what a europe to grow. what a europe to grow up in. a black market where even pride was for sale to the highest bidder. a europe that drew the end of self-respect and human values hearkened back to the jungle. but, in order that the wheels could turn again, some had to put their faith in others. they had to trust and sit around the same tables defined the means of putting europe and the whole world to right. it was evident the europe of 1939 was gone forever. the annexation of the baltic states, the huge advances of the red army placed enormous areas of eastern europe under soviet domination. he agreed on free elections. amid the ruin of countries such as poland, they were held. they were was a matter of opinion. with communists already in key posts, it was no surprise things what their way. if anything else was needed to make the victory certain, there was always the presence of the secret police and a number of soldiers of the occupying red army. and peoples exhausted by war or hardly likely to resist such coercion. for all their ene

in europe? >> absolutely. and i think -- successive leaderers in germany have shied away from the fact that german voters who have to pay more if they want this kind of -- more unified europe. they're going to have to pay out of their own pockets for countries like greece if they're going to stay in the euro zone and things not to fall apart. but this s has been shied away from. it's been con speckiusly avoided by german leaders one after another since helmut kohl. >> not always were -- the strongest power was in europe economic -- economically seen. if you just look at the first years after the currency union and the single currency, you see that germany was the sick man of europe. so that was a completely different talk then. melinda: because those were also the first years followingn unification. let us now, however, turn to the present. in the past few years, it has looked as though helmut kohl might live long enough to see the house that he had built shaken absolutely to its foundations. let's look at a f

in europe? >> absolutely. and i think -- successive leaderers in germany have shied away from the fact that german voters who have to pay more if they want this kind of -- more unified europe. they're going to have to pay out of their own pockets for countries like greece if they're going to stay in the euro zone and things not to fall apart. but this s has been shied away from. it's been con speckiusly avoided by german leaders one after another since helmut kohl. >> not always were -- the strongest power was in europe economic -- economically seen. if you just look at the first years after the currency union and the single currency, you see that germany was the sick man of europe. so that was a completely different talk then. melinda: because those were also the first years following unification. let us now, however, turn to the present. in the past few years, it has looked as though helmut kohl might live long enough to see the house that he had built shaken absolutely to its foundations. let's look at a fe

in europe? >> absolutely. and i think -- successive leaders in germany have shied away from the fact that german voters who have to pay more if they want this kind of -- more unified europe. they're going to have to pay out of their own pockets for countries like greece if they're going to stay in the euro zone and things not to fall apart. but this has been shied away from. it's been con speckiusly avoided by german leaders one after another since helmut kohl. >> not always were -- the strongest power was in europe economic -- economically seen. if you just look at the first years after the currency union and the single currency, you see that germany was the sick man of europe. so that was a completely different talk then. melinda: because those were also the first years following unification. let us now, however, turn to the present. in the past few years, it has looked as though helmut kohl might live long enough to see the house that he had built shaken absolutely to its foundations. let's look at a few of

code yes, across europe, this wall will fall. for it cannot withstand faith, it cannot withstand truth. the wall cannot withstand freedom. and i would like, before i close, to say one word. i have read, and i have been questioned since i've been here about certain demonstrations against my coming. and i would like to say just one thing, and to those who demonstrate so. i wonder if they have ever asked themselves that if they should have the kind of government they apparently seek, no one would ever be able to do what they're doing again. [applause] [loud cheers] pres. reagan: thank you and god bless you all. [applause] you. reagan: thank [applause] reporter: the president has concluded his speech and is being joined by chancellor kohl. he will be departing soon for aa, where he has planned birthday party in celebration of the 750th anniversary of the city and we will return you to our studio. [applause] >> thank you very much. as you mentioned, the president is joined now for a photo opportunity with the mayor and chancellor kohl

the unification of europe and the unification of germany. she has seen much of the aftermath of that. she has had to deal with a lot of the fallout that was caused by decisions that he pushed. pushing for the introduction of the euro despite the fact that the composition of the eurozone was not such that the economists said at the time an ideal place for the experiment. christopher: many thanks for that. you are watching dw news. stayay with us. plenty more to come. christopher: welcome back. you are with a dw news in berlin. our top story, germany's former chancellor helmut kohl has died at the age of 87. when the berlin wall came down, he was the man who united germany. now kohl's role in unifying germany was without doubt his greatest achievement. the toppling of the communist regime was not initially aimed at creating a unified german states. kohl was convinced about the two germany's simply belonged together. >> in mid-1989, the first tear appeared in the berlin wall. the news spread like wildfire, east german citizens headed to budapes

europe gave birth to us we come from europe. why have all of the things that we have taken from europe, why can't europe learn from the united states on how people who come? we are an immigrant country. everybody has come from all over the world to make us who we are today. why cannot europeans who have been around many more centuries thanwe have, learn that simple lesson? >> one of things that we did not carry with us one came from europe is religious discrimination. that is why we enshrine, in the and the endment, castration itself no religious test does . the religious acceptance and unique.ion was it is 90 we borrowed from europe. they have never had that kind of openness from all religious faith that the united states have. i'm ronot trying to say this in embarrassment, armstrong, i would agree that the incidence in terrorism by immigrants are and those who are muslim are far less than in europe. that does not relate whether it's by vehicle orterrorism or terrorism by guns. that is, as you say, even if there are incidences

the unification of europe and the unification of germany. she has seen much of the aftermath of that. she has had to deal with a lot of the fallout that was caused by decisions that he pushed. pushing for the introduction of the euro despite the fact that the composition of the eurozone was not such that the economists said at the time an ideal place for the experiment. christopher: many thanks for that. you are watching dw news. stay with us. plenty more to come. christopher: welcome back. you are with a dw news in berlin. our top story, germany's former chancellor helmut kohl has died at the age of 87. when the berlin wall came down, he was the man who united germany. now kohl's role in unifying germany was without doubt his greatest achievement. the toppling of the communist regime was not initially aimed at creating a unified german states. kohl was convinced about the two germany's simply belonged together. >> in mid-1989, the first tear appeared in the berlin wall. the news spread like wildfire, east german citizens headed to budapest

one long line of with -- what a europe to grow. what a europe to grow up in. pridek market or even was for sale to the highest bidder. iraqi and of self-respect and human values hearkened back to the jungle. but it order that the wheels could turn again, some had to put their faith in others. they had to trust and sit around the same tables defined the means of putting europe and the whole world to right. it was evident the europe of 1939 was gone forever. the annexation of the baltic states, the huge advances of the red army place enormous areas of eastern europe under soviet domination. marshal stalin was probably the midi yield over a table that which he had seized in battle. nevertheless he agreed on free elections. amid the ruin of countries such as poland, they were held. belfry they were was a matter of opinion. with communists already in key posts, it was no surprise things what their way. if anything else was needed to make the victory certain, there was always the presence of the secret police and a number of soldiers of occupying red army. war orles

we did it in the 1920's, and it resulted in turning away many jews that tried to flee europe. not a very proud moment in our history. >> i have a natural empathy for people who have been persecuted. it's the reason i came to the u.s. and the reason i lost my parents, had to do with persecution. >> one really positive thing the refugees bring to the united states is an opportunity to interact with the countries overseas from which they come, where there are a lot of misconceptions about the united states, what our intentions are in the region, what we are trying to do, what freedom of states is an opportunity to religion we have here, are we are to persecute muslims and other religious minorities, and the reality of religious freedom in the united states really does change minds, both in the united states and overseas. >> safety is important, but right now, we need to make a choice. should we bar people out for a fear of terrorism, or should we welcome them in with open arms? we think the question congress should be asking is not whether we help refugees, but how can we help th

he was a unifier of germany and europe. theheir he did not start reunification, thehe people of eastst germany started the procs in g g did not complete the unification but nevertheless, he was an extremely important element in the processes. >> you experienced in close-up on many occasions. what kind of a man was he? >> he had a lot of different sides. he could be very friendly but he to waslso be very brutal the people around him. as a journalist, i experienced all of that close-up. this is also part of his legacy. >> allen, what is your strongest memory of helmut kohl? give us something that tells us the most about who he was? >> i remember on the night the wall came down for the night after that when he flew from berlin.imberland -- to there was an assembly in front of the town hall where john f. kennedy had his speech. the mayor of west berlin was there. there was a crowd of people who were jubilant at the fall of the wall and helmut kohl starts to sing the german national anthem. you can hear, they are all out of tune

there is up 40 basis points negative cap a rate in europe. -- depot rate in europe. people are taking it, taking it, taking it. you get a bit of a spread there as well. what they need to do is change their mandate. if i offered you a 30 year in italy with a 3.5% coupon come is that something you would be interested in? give me a thesis around the career death in europe right now. unless i was an insurance company and i needed coupon income to hedge my liabilities. the european economy is starting to improve, and ecb at some point we'll have to start to normalize rates. i'm not saying today or tomorrow, but you are loin your money for 30 years with some credit risks. the only reason that would work as you have some big geopolitical issue or massive correction in equities markets that people want that duration, but that is a hard call if that will happen. jonathan: where in europe in the fixed income space, and you can go anywhere, are you constructed anywhere? would you get long anything? >> europe is really difficult for us. as mentioned earlier, rates at the short e

europe and the capacity to integrate. the refugees at the same time we cannot accept everybody that comes to or come from countries all countries have the control of their borders looks all countries so europe also as the rights to control its borders. let's talk about blackness and the blues of being black. and always well in a big house down at least that's what i've been told but it was simply that we in remains as such because we simply forgot. the scene we've allowed them to rearrange paint you've told us the sickness of trusting our enemy we came to face. that's what i call a lack of blackness or understand in the blues a being black. sheep the blues of being black should mandate that we attack knowing how when and what to do to come is simple in his natural as be beck is simply tat the feeling is black and blue. a tough week for the british prime minister as she faces calls the resign over a. take to the streets. from washington over. to the country as potential targets. and in the full. time in the final football

. -- in europe her changes are 80%.than cancer -- nearly one out of four with it in europe die. .he united kingdom there's single-payer system is not doing well. republican.d, go ahead. tost: the 40 start, i want refer our viewers to the website for infections. hospital infections.org. reduces you can take to the risk of infection. caller: there are machines that help radiate better. excuse for's no these hospital infections and i must say the federal government must really be behind the curve in addressing this. i'm hope -- hoping president trump will take this on. we did it on housing and just about will up the financial system. now, we have a health care program. we're just not talking about they'reting conditions, -- ng i have works in research. -- work and research. guest: i don't want americans to be scared about health reform because this medicaid reform is needed. the information i tried to convey is that medicaid reform is essential to ensure the safety net is there for those who need it most. if you look at the numbers, medicaid reform will be good thing for people who have needu

>> europe is really difficult for us. as mentioned earlier, rates at the short end are negative, so every bond issued out of germany is a zero coupon, so you are guaranteed to lose money if you hold to maturity unless you pick up investment grade corporates. it is difficult in europe to find via you unless you go down the credit curve, but the risk is the further down you go, the harder it is. we find more if i you and parts of the u.s. jonathan: we will get to the u.s. shortly. you are sticking with us. a check on the market and bonds, grinding higher wi-fi basis points on the two-year and 10 year, up six basis points on the 30 year the final spread, the wake ahead, a rate decision, including the fed. you are watching "bloomberg real yield." ♪ ♪ jonathan: from the city of london, i am jonathan ferro. this is "bloomberg real yield." it is time for the final spread. outside the french parliamentary elections, a wave of central-bank decisions. a hung parliament, prime minister may hangi onto power. confirming right now

when they discovered foreign-born inmates there, they paupers back to europe. >> who supported these measures? hidetaka: the nativisits. middle-class people detested the poverty and catholicism of the irish immigrants, and working-class people as well didn't like immigrants because they thought they were job competitors for americans. just like today's undocumented immigrants were accused of lowering wage standards for americans, working-class americans believed that irish immigrants would take away their jobs. >> were there any legal protections for the irish immigrants? hidetaka: yes. the biggest protection is citizenship. after all, irish immigrants were white, so they could become citizens through naturalization if they lived in the u.s. for 5 years. technically, deportation law only applied to noncitizens. if you become a citizen through naturalization that would exempt , you from deportation. >> does the 14th amendment affect the status of these immigrant groups? hidetaka: yes. 14th amendment is very important. to start with, it provided for the first time the definition of u.s

army film from 1964 documenting the destruction in europe following world war ii, ongoing clashes between communists and non-communist forces, the creation of the marshall plan, in the formation

nowhere in europe has the division of germany and europe more clearly evident than here. the longingels also for freedom and togetherness. here, the necessity of dialogue and cooperation behind -- beyond borders becomes clear. this wall stands between the hopes and wishes of the people. for that reason, it has no future. [applause] must become less impenetrable. it must be overcome. berlin once -- wants a symbol of freedom and dialogue amongst the people. policy like that is naturally based on reality, but also based on the expectation of changes that do not demand too much of anyone. cord -- inin aco accord with agreement. applied and fully exhausted, because this is where the opportunity that lies or berlin is in all directions. we berliners demand that all opportunities -- in the center of europe, and berlin is the heart of europe. -- and we cooperation are ready for it. it is based on a constructive climate and is a reasonable alternative. here, everyone can see that -- being reduced, realities do not only depend on -- any policy requires credible, confident measures.

today we honor a partnership dedicated to building the 21st century europe that can preserve the freedom and peace and find genuine unity for the first time. today we honor those leader whose values and vision have made that possible. in 1991 the world is very different the berlin wall had come down but a gulf separated the eastern half of your proof to from the most affluent neighbors on the west everyone agreed something had to be done to bring europe together but not everybody had a clear idea what that something should be. some people thought nato should go the way of the warsaw pact and in its place we have to build something new and untested and unproven a community that embraced with no true obligations imposed on anyone but others felt the challenges of eastern germany and europe had plenty of advice to open the institutions that they thought of as distant and foreign but helmut kohl understood backed by a blue print grounded of the institution for so long. he said your all called upon the new architecture and consider a splendid house and has risen. germany is united nato has th

from europe to asia, to our own north american home. long-standing that have formed the bedrock of our security and prosperity for generations are being tested. despite the climate change, first among them a call for a new uncommon result. we must think carefully and deeply about what is happening and find a way forward. by definition, the path weey choose must be one that serves the interests of all canadians and upholds are probably held national values. to preserve and nurture canadian prosperity in our collective goal of a better, safer, more just, more prosperous and sustainable world. one we can pass on to her children and grandchildren with a sense of having done the right thing. this is no small ordinance. it is what i like to spend a few minutes talking about today. >> they had been deeply engaged in and greatly enjoyed the benefit of the global order based on rules.iples an these are principles and standards that were applied by certainly the vast majority of the democratic state. but not all times by all statesr human rights,

he was a unifier of germany and europe. theirgh he did not start unificatio the people of east germany started the process in g did not complete the unification but nevertheless, he was an extremely important element in the processes. >> you experienced in close-up on many occasions. what kind of a man was he? >> he had a lot of different sides. he could be very friendly but he to waslso be very brutal the people around him. as a journalist, i experienced all of that close-up. this is also part of his legacy. >> allen, what is your strongest memory of helmut kohl? give us something that tells us the most about who he was? >> i remember on the night the wall came down for the night after that when he flew from berlin.imberland -- to there was an assembly in front of the town hall where john f. kennedy had his speech. the mayor of west berlin was there. there was a crowd of people who were jubilant at the fall of the wall and helmut kohl starts to sing the german national anthem. you can hear, they are all out of tune. yellin

the changing face of europe. aidnations receiving dollars have their counterpart funds to good work. hydroelectrics, plants. factories there was ever-growing roar and bustle, the marshall plan was reconstruction. nato was the shield. now they were working for peace. working for themselves and working for tomorrow. the council of europe was meeting and at their conference there were many european nations. discussing the future of their countries. the council had not accepted their powers and could only advise the government on their power. it was at least a common meeting place where europe could be me that scene. a start that was a long way to go. the arteries of the continent might be throbbing with , there were still age-old barriers. seemed atomic bombs would shift towards rubberstamps, towards the roman cathedrals. yet the solution was is you that anyone had mentioned. unity the needs of trade would push down the walls. once the coal mines of the czars with the crucible of war. haveut them war would resorted

let's wrap things up with a look at europe. the economy looks stable. i just wonder what that means for the bond market when the only thing that matters is the ecb. >> the growth is better. we think the growth will be durably better. you are seeing the lending markets improves, you are seeing consumption and employment has picked up. core inflation is not picking up fast enough for the ecb. you have got a dynamic where growth is good and you have a central banks that is going to be accommodated for a longer time. it's a pretty good environment. that's why you described people coming into europe. that is a good combination. jonathan: this is a recipe for steeper curves? the ecb is not a rush to go anywhere. >> it should be when the markets have the ability to start pricing that in. with the ecb pressures downward on interest rates and the persistent pushing out of expectations around when that balance sheet turn may occur, that helps to limit that effect. when we are talking about balance sheet normalization, that is your recipe for a steeper yield curve

global south this exodus which is just the start has already created the greatest refugee crisis in europe since world war two there are profound political ramifications caused by climate change extremist right wing parties here and in europe conflate migrants with terrorism they twist the ecological crisis into a clash of civilizations xenophobia and hate crimes are on the rise borders are militarized walls are built police the border police and the immigration and customs enforcement carry out reigns of terror against those who lack legal documents r t correspondent on your profile looks at how climate change is increasing tensions between the global north and the global sell. and climate change to be an issue of national security even according to our military the answer is yes of course never mind the fact the pentagon itself is actually the largest polluter in the united states that's because wherever our military and multinational corporations go environmental devastation follows what have we pushed the global underclass too far the nine hundred ninety nine protest against the world

when forces in europe were waning, these folks are going to europe and purchasing fabulous collections of art and other aspects of european culture which they are sort of appropriating into their own lifestyles, but it left us with carnegie libraries over all the country. it left us with most of the collections of places like the metropolitan museum of art. while they were very much living high for themselves and their own reputations and interests, they also left legacies. and to have a mansion, an estate like this, to see the architecture of the period in most cases pretty well preserved, allows us to see the material culture of that period. we have them to thank. mrs. mills died in 1920. all of the entertaining comes to an end. mr. mills continues to come to the estate because, while her passion is the entertaining and the parties on weekend, his passion is the working farm across the street. he continues to come here until 1929 when he passes. it becomes a state historic site in the 1970's. then a professional museum functioning for tours and programs for the public in the 1980's.

europe has the capacity to integrate. the refugees at the same time we cannot accept everybody that comes to all come from countries all countries have the control of their board looks all come from so you it also has the rights to control its borders. to add value while the other budget below you know how to be agile. of a lot of. our own so nerd golden families will lead to a record deal tomorrow just all good their balls are going to be thrown over. the crowded coffee up there with nobody i go there often is that there are the delegate. all media. is the target everybody wants school and the people here living here are treated just like all books. money affair feels responsible that three of her sons got hooked on drugs. one is in rehab while another is in juvenile detention after being caught. she says joel is the most violent and blames him for her miscarriage and his younger sisters that . have been there my mustache meaning will we have told me you know this is it possible to have you back. you know i'm just not th

far more prevalent in europe. is that because there were larger groups of unassimilated muslims that tend to become so isolated that that isolation can sometimes breed anger? >> they have very open borders there. there is not the vetting in those countries that we have here. obviously the president rightfully has asked for more stringent vetting to make sure this country is protected. when europe is suffering as a result of politically correct policies because they were concerned about protecting their people. assimilation is important. you go to a country, you have to respect the culture of that country, respect their laws, respect their traditions and values. that doesn't mean the people of that country will not respect yours. but when you move into a nation you have to learn how to live under the laws of that nation. that's where assimilation comes in we do it better here than they do it there. our intelligence agencies no doubt in my mind have prevented a lot of attacks because of the work they have done in th

they didn't want to see a europe that was dictating a lot. they didn't want to see environmental policies that effected jobs. they certainly didn't want to see the type of global trade was happening and he's following through on that agenda and certainly we can't argue with the fact that the economy certainly at this point is continuing to do wrel. >> making the base happy then the president feels as though he's doing the right thing. >> eric shiver of representation management consultants. thank you so much for joining us. we having me. >> former secretary of state hillary clinton was greeted by a standing oafertion. she talked about her new illustrated children's book it takes a village. remember it was inspired by her book from 1996 that was the same title. she says it will give readers a sense of what it's really like to run for president. >> not just hair and makeup, but ultimately it's about resilience , how to get back up after a loss n. applause) and i think that's something we can all relate to mrs. clinton's book comes out in septem

is an important part of europe. it is a regional player in the scope of europe's business in general. they are insulated from that. it concern you as an investor if these banks have to suddenly move offices are is that not a big enough expense to bother you? william: it depends on how much you are in we are talking about the london move, i guess, and it depends how much operations, they have to move. thatour opinion is a sense london is a financial center, and the primacy as a financial center predates the industrial revolution. regimes.rvived many english-speaking, common law tradition some of these kind of things. very good institutions and a clustering of associated services that is not replicated anywhere else. new york seems to be the plausibl place for forle -- plausible ways businesses to flee. with regards to europe specifically, a lot of them were troubled banks are mainly domestically focused -- the more troubled banks are mainly domestically focused. that will be hopeful on the nonperforming loan situatio

europe is the best and worst example. many cases these individuals left european union under the rad radar. they don't know if they have spent the last two or three in syria and iraq and they are returning under the radar. there's no indication in many cases that the individual is now a combat hardened individual and is now returning. we see them urning everywhere. in a few places there's fairly radical individuals, places of worship there. we are seeing individuals leave and return to the caribbean. that's pretty close to home. think tourism. think cruise ships. we have seen them returning to australia, singapore, indonesia. the good news is it is being redu reduced. can the advantage is they have planted a flag and said this is ours. they are going back as little cancer cells back into society and we really have to be very very careful. >> and tsa, a lot of people think all they doo is screen at the airports. the other side is prevents people and bad things from get sbo ing into the united states. can you talk about the

europe even at war was an inside destination for the young men of the peace country. but there was more to it than a young man's thirst for adventure. my grandfather was of the generation of canadians who intuitively understood the connection between their life and those of the people they had never met. there is a speech they could not comprehend, the lives so far away. that generation was the greatest generation. recall the not for good reason. they have survived the great depression. they were born in the aftermath of the first world war. they appreciated that a world without exporters for most of the global economy was a world of poverty.they sought to prevent that from ever happening again. that is why they risked their lives and gave them to fight in the european war. that is why, when they came home they cheerfully contributed to the great project of rebuilding europe and creating a postwar world order. that is why they counted themselves lucky to be able to do so. for our parents, our grandparents and great grandparents.but it paled in comparison with - to use

how is that working in europe as well? thank you. >> are less question and then we will answer all three. >> before i asked a question, i i have seen the culture there. in egypt we have wii versus that as well between egyptians. we have we versus them. i figure the culture itself became more aggressive. the religious dialect became a cultural practice. how can we as policymakersra change that? people by nature became religiously radicalized. so how can we change the dialect in the middle east? >> all right. we will just go straight down, and to whichever part of the three questions you would like. >> thank you. relating to the radicalism i think it will be a waste of resources. and much more important, the question of the eu, i already touched on relation. i said then and i repeat it now, we have learned our lesson. you may criticize the eu.. you may criticize the netherlands but we in the last two years tremendously improvey our information change through europol with regard to law enforcement, the so-called counterterror

joined by europe's biggest hotel operator from paris. good afternoon. so what are you doing -- what are you looking to invest in? i want people to understand what is going on around them. me and iem to meet want to be fond of it. >> what did he tell you and what do you think of the business environment he's trying to create? lot.think it means a this is friends. we are welcoming a lot of people to be part of it. some pride here. a lot of respect so there is something that i call energy. >> you think -- >> at the end of the day, i will never be against someone. we have a new french president and a new french government. there is something here. without thinking it will be at it ispense of someone, going to be good in the u.k.. it is the third largest country. >> tenure tells more about this and what you will do question it is over 1000 hotels in 20 countries. with come to invite long-term investors. -- a bigemain endeavor. it is something that is good and something that will go further. >> some reported you have those buyers. you confirm these? all the m

conventional arms control in europe is deadlock at least 2002. efforts by the obama administration to revive it have failed largely because at the time the russians had completely lost interest and, however, today conventional arms control is perhaps even more needed than ever. so what i would like to do is let -- we look at the three levels. the first level i would term the strategic balance. one of the true concerns of the russian military today is still the conventional superiority of the combined force of nato and that, of course, includes the forces of the united states. if we go down one level, we come to the regional balance. there the russian superiority in eastern europe is very strong concern for nato and the country's concern for the region. if we go one level below that to the sub regional level, here russia is concerned about the security. as much as we talked every day about the russians with all the stuff there, they are concerned about open conflict with nato. so think of this whole approach or this whole situation as a russian, y

clearly, it was identified as a fertile ground in europe. radical jihadist out of libya and syria were in the soft underbelly into europe. it was a prime target. bill: it was a physical movement then? it wasn't just internet talk that you get in much of the time? >> our apologies there. hang with us. pete hoekstra the republican from michigan, if you get the line reestablished, let me know. it's a very important stuff when we think about the study and what he went to find. this is one of his conclusions. put it on the screen. in europe he talks about the increase of tax over the next 18-24 months, he also talks about in africa the terror expanding geographically all according to the study they were doing a year ago. in the middle east they will target jordan, saudi arabia and they may have caught them after a moment ago. can you put that mac back up your if we bring the former congressman into the conversation again when you look at this map the thing that is striking to me is what's happening in western europe -- >> it really is. the polici

global south this exodus which is just the start has already created the greatest refugee crisis in europe since world war two there are profound political ramifications caused by climate change extremist right wing parties here and in europe conflate migrants with terrorism they twist the ecological crisis into a clash of civilizations xenophobia. and hate crimes are on the rise borders are militarized walls are built police the border police and the immigration and customs enforcement carry out reigns of terror against those who lack legal documents are key correspondent on your power bill looks at how climate change is increasing tensions between the global north and the global sell. and climate change be an issue of national security even according to our military the answer is yes of course never mind the fact the pentagon itself is actually the largest polluter in the united states that's because wherever our military and multinational corporations go environmental devastation follows but have we pushed the global underclass too far the nine hundred ninety nine protest against the wo

when forces in europe were these folks are going to europe and purchasing fabulous collections of art and of europeans culture which they are sort of appropriating into their own lifestyles, but it left us with carnegie libraries over all the country. it left us with most of the collections of places like them metropolitan museum of art. while they were very much living high for themselves and their own reputations and interests, they also left legacies. estatehave a mansion, an like this, to see the architecture of the period in most cases pretty well preserved, allows us to see the material culture of that period. we have them to thank. 1920.ills died in all of entertaining comes to an end. mr. mills continues to come to the estate because while her passion is the entertaining and the parties on weekend, his passion is the working farm across the street. he continues to come here until 1929 when he passes. it becomes a state historic site in the 1970's. then a professional museum functioning for tours and programs for the public in the 1980's. twin daughter who gives the house as a

for europe? as opposed to going into units? >> so, i think it initially, yes, it will go towards the abcts there in europe. i'll get you probably need to look a little deeper into that before to give you a more complete answer, but right now i know that's where the priority is. >> so this will be your last question. >> okay. yes, sir. >> could you talk a little bit about what was the bill -- what's the 18 budget to grow? the congress directed to grow by 50,000, i guess. 26. what's the bill this year? and what's the bill in the fib? dollar for dollar -- i mean, how much more does the army have to get to sustain the growth in this year? >> so to grow the army from -- as you're well aware, we were in a pretty -- well, we were going down to 450, 476 and so right now fully burden cost we're projected to be about $2.8 billion for the entire 26,000 that you're referring to. that includes the training money, the instillation support and the -- that was what we costed that out to be. >> and is that going

in europe, there are not many places to go. >> you are right. rates -- like you said, to get any income, they have to take more risk and the question is thomas risk are they taking to get that additional income. what investors have to remember is these are but unlike instruments that trade like equity. they can be quite volatile so in a way euro must doubling up investment if you want equities as well as cocoa's. unfortunately when there is a run on a bank, you get put in the wrong time. can big advice you about is be careful and understand what you're investing in before you go in for the coupon income. jonathan: we can paint a fairer picture quite easily. given how highs creditors. >> it is the punch from the ecb. the punch bowl is full and not thened out anytime you investor behavior that is consistent with lying higher-yielding securities -- substitution effect of selling bonds to buy ag higher assets and that is being promoted to the ecb. it is not surprise me that we are not seeing contingent in the market because everything else is so eff

fundamental discussions about the more europe or less europe we have to be pragmatic. there are areas where we need more integration there are areas where probably we could reverse some of delicious leisure that sometimes appears to intrusive but frankly i don't think it is always helpful to have discussions of ideological philosophical debates about more or less europe because based on my experience of leading u.p.a. and commission ten years what i have seen was that even in times of crisis the moon is too cute financial and suffering that because we have it in europe at least since the second world war it was possible for you pinion to make progress for instance you have now some elements of a banking union with a common supervisory mechanisms common resolution mechanism that will be considered unthinkable before the crisis so for instance for the countries want to have a common currency definitely it's needed more integration so yeah let's talk about the concrete steps because i know that british thing and here are being touted by politicians which would mean that t

by organized crime and cyber criminal syndicates in the former eastern europe. the fact that ukraine was targeted and the fact that it's being monetize. allows me to suggest that this could very well be part of some cyber criminal group that sometimes acts as a cyber militia. of for russia in fact that they were targeting ukraine at this level we kind and said that they thought the attack originated in russia but he did also affect russian entities that it did and you know once you set. a forest fire you never know where it's going to burn and that the fact that so much infrastructure in ukraine was targeted a through accounting software. that was levers specific to that environment specific to that language and specific to. file sharing that allow it to traverse infrastructure as a whole i leads me to believe that this was far more than just a. criminal conspiracy they took great crave money are monetize of prospects why is it that companies and entities is still vulnerable to this attack when that they know that this malware exists so microsoft from a good job

how is that working in europe as well? thank you. >> are less question and then we will answer all three. >> before i asked a question, i was raised in egypt and i have seen the culture there. in egypt we have this as well between injections. even they are to muslims but we have we versus them. the culture itself is more aggressive. the religious dialect a culture of practice. how can we as policymakers change that? because people by nature became religiously radicalized. so how can we change the dialect of religion in the middle east? >> all right. we will just go straight down and answer whatever parts of the three questions you would like. >> thank you. about undercover agents relating to the radicalism i think it will be a waste of resources. and much more important to transport the question of the eu, i have already touched on this. and i said and i will repeat it now, we have learned our lesson. so you can criticize the eu. you may criticize but we in the last two years tremendously improve our information through la

europe has been leading. what about banning the apps that provide the encryption of starting the ball rolling. we are at war and all of these experts that claim first amendment rights don't really care until someone who they know is killed by a terrorist attack, but what about tanning these. number two, the united states government has been extraordinarily weak in holding silicon valley accountable for videos that are insightful and inspiring radicalization. today i uploaded to youtube video that was posted yesterday training people how to develop a suicide vest. on my website there is a youtube video. it shows you that no matter what is happening, silicon valley is so far behind trying to combat online extremism, i'm wondering if any of you have anything to comment on as well as the encryption issue. >> i almost forgot encryption. it means that we don't ban encryption because we think in the end, the freedom of speech is more important than what can be used by everybody, not just our trusted intelligence. we

[laughter] >> europe is really difficult for us. as mentioned earlier, rates at the short end are negative, so every bond issued out of germany is a zero coupon and is a capital price above par. so you are guaranteed to lose money if you hold to maturity unless you go down the credit curve and pick up investment grade corporates. they are not very high in yield. so, it is very difficult in europe to find value unless you go down the credit curve, but the risk is the further down you go, the harder it is. we find more value in asia and australia and parts of the u.s. jonathan: guys we will get to , the u.s. shortly. you are all going to stick with me. we are going to get on the check on the market. yields grinding higher on basis points on the two-year and 10 year, up six basis points on the 30 year the final spread, the wake ahead, a rate decision, -- the week ahead -- a rate decision, including the fed. you are watching "bloomberg real yield." ♪ ♪ from the city of london, i am jonathan ferro. this is "bloomberg real yield." a b

and western europe. but we recognize that the global balance of power has hanged greatly since then. and recognize that we increasingly within reach of all and as canadians, let us be agents of that change. [applause] let us seize the great opportunity we have now to help the people of the world's fastest growing country join the global middle class and the multilateral system that supports it. peace and prosperity are every person's birth right. the second great challenge is an exhaustion in the west of the belief among working people , the middle class, that the global system can help them better their lives. this is an enormous crisis of confidence. it has the potential, if we let it, to undermine global prosperity. at root of this anxiety around the world is a pervasive sense that too many people have been left behind, betrayed by a system they were promised would make them better off but hasn't. here's the key. it's true that the system is flawed. but international trade is the wrong target. the rea