so i think indeed this shows that people in europe really want more flexibility there's all of europe more demand for. basically having more control over one's own fate i would say that's why we see all these populist movements in europe that are from the left or the right this is what they sort of having common they feel they're losing control over their own fate and indeed also the cuttle on the scottish independence movements they of course have always existed but in the last ten years they have become much more popular and again if we wonder how to deal with that i think we have to look at switzerland sicilian as a country where there's a lot of decentralization we're the decentralized entities the continents can decide it's over taxation policy too much larger extent than was the case elsewhere so and this really helps to keep switzerland together nobody in switzerland wants to wants to sort of secede from the country because the country allows a lot of flexibility people are generally happy with how swiss run this so if the e.u. is wondering how can we become more stable they ha

rather than with more europe. when hungary was a candidate for the europe, a lot of people invested and got credit in euro currency and then had problems paying back their mortgage. he won a lot of votes and won the latest election. a group of core european countries will create the kind of extreme where others will follow or we had a situation where for a long time we have different speeds. of differentidea speeds has been debated for really be can there different speeds on immigration? the european court of justice, for example, has just rejected a challenge from hungary and on quarters. if austria tries to balk at taking more refugees, might it also wind up getting a reprimand? withe: yes, but i agree matthew. i think the issue is decided in the sense that no country in all of e europe wants to take more refugees. any european country no matter which does not want to have more integration towards europe. that is even true of germany and also of the netherlands, of belgium. what will happen is, of course, the on

signing in europe you know in one club from europe. here's the question it was with the sixteen yeah. with the national team and now it's the second. place on the first plane in europe from the top you know but use the sec as a sort of. mini seems happy and i bet you were given time to adapt is making good money and his chance of playing in their own growth. following our free time bane yeah looks like it was the right. down. to just a game so i knew paul. was i. going to miss. beard as a little sister is just a definite as a father. just . couldn't it was other than. football is loved in africa. breaks players have come from the continent and their success will everywhere they go while the african coaches in europe's top leagues we ask are they simply not given the chance. just to get the record there is a lot more coming up you look at an african coach puts his team through its paces this is forty. a traditional club in the dutch second division sunday only say is one of the first football players from africa to turn coach in the eur

oh across europe fourteen e.u. states impose sanctions on austria now there is barely a peep and in fact we hear of the the social democrats in austria have not ruled out themselves entering a coalition with the freedom party what's going on i have feeling that the freedom party moved more to the center they tried to. get rid of people and positions extremists and far right of course there was a few arguments and t.v. discussions also were anti-semitism was lying under the surface but i think they're eager to to leave it there and not bring it up like before that's one point the other thing if i may i would like to come back to you how men who just this is our last chance in europe i disagree i think this is the biggest chance for what europe has now to to change the system to change the bloc towards more integration towards more europe with these societies and these countries that want to move forward ok let's come back to that in just a moment i saw him shaking her head rather vigorously and i went it's not true

it looks very much in line with the rest of europe. the front of center story for us in europe. as matt already indicated, it will get more complicated as we work our way through the next 90 minutes. we have under 90 minutes until we have catalonia making that decision, the spanish government have given the catalonian president until time a.m. -- time.a.m. local this is what the -- matt was talking about. if that were to happen then that hashen charles puigdemont been pushed to say we will unambiguously declare independence. how do we think the next few minutes are going to go, what can we expect over the next hour or so? headlines,re getting the president saying if our economy gets -- if we get suspended -- this kid make it more -- could make it more complicated. if the economy gets suspended and there is a unilateral republic he declared. something that he is doing and puttingimself time and rajoy under pressure. hashas promised -- rajoy calmest they will take over the region if they do not scale back to -- scale back. this has never been done before but right now it would be

is europe the e.u. is europe much broader i think it's very important in a way to clarify who to sort this out you know because usually when we mention europe people consider that it is only e.u. so the twenty eight order twenty seven if you consider that the u.k. still out but is only as a way to look at what europe means and as you may know you know my last job. before creating the global com past was as a director of education and you said the council of europe and the council of europe comprise. seven countries and member states including russia including turkey including. crane and many other countries that are not part of the e.u. are well aware mr buswell let me add them and they're all my question because when we talk about the european identity or the european values which by the way while we're at the center of the ukrainian kong for a conflict i think we in russia at least we mean first and foremost the european union and the values the so-called european values that it sets out to promote yo

all across europe fourteen e.u. states impose sanctions on austria now there is barely a peep and in fact we hear of the social democrats in austria have not ruled out themselves entering a coalition with the freedom party what's going on i have feeling that the freedom party moved more to the center they tried to. get rid of people and positions extremists and far right of course there was a few arguments and t.v. discussions also were anti-semitism was lying under the surface but i think they're eager to to leave it there and not bring it up like before that's one point the other thing if i may i would like to come back to it how many witches this is our last chance in europe i disagree i think this is the biggest chance for what europe has now to to change the system to change the bloc towards more integration towards more europe with these societies and these countries that want to move forward ok let's come back to that in just a moment i saw him shaking her head rather vigorously there and i have a way that it

is europe the e.u. is europe much broader i think it's very important in a way to clarify you have to sort this out you know because usually when we mention europe people consider that it is only e.u. so the twenty eight or the twenty seven if you consider that the u.k. still out but is only as a way to look at what europe means and as you may know you know my last job. before creating the global com past was as a director of phage occasion and you said the council of europe and the council of europe. comprise forty seven countries and member states including russia including turkey including. crane and many other counties that are not part of the e.u. well aware mr buswell let me have them and they're all my question because when we talk about the european identity or the european values reach by the way while we're at the center of the ukrainian kong for a conflict i think we in russia at least we mean first and foremost the european union and the values the so-called european values that it sets out

last but not least a quick jump to europe's most successful club. reporter is still tracking the world's biggest star thomas chasing c r seven. i'm still wiling at the real madrid training ground on my hunt for christiane when i. where will he leave from. a local cameramen if i'm on. ok i need to get past these roundabouts to the gate which the players usually past when they don't take the secret and. fortunately i meet some kids on the way there to experts in getting players to stop for autographs they know all the tricks. they've even managed to get christiane or not i'm impressed. i have. now says i'm not. a lot. like. how can you keep track i recall a scene in the bio pic. while watching it i remember thinking christiana really has a thing for costs. now. then towards. well it's all to. get. there by a very bright very bright. now. in the winter. oh. yes. they all start trickling in and i pick up some tricks from the time group. but it's done by you also won't even stop is there any chance that cristiana would follow you. know. my talk about the

all across europe fourteen e.u. states impose sanctions on austria now there's barely a peep and in fact we hear the social democrats in austria have not ruled out themselves entering a coalition with the freedom party what's going on i have feeling that the freedom party moved more to the center they tried to. get rid of people and positions extremists and far right of course there was a few arguments and t.v. discussions also were anti-semitism was lying under the surface but i think that you've got to to leave it there and not bring it up like before that's one point the other thing if i may i would like to come back to that how men who just this is our last chance in europe i disagree i think this is the biggest chance for what europe has now to to change the system to change the bloc towards more integration towards more europe with these societies and these countries that want to move forward ok let's come back to that in just a moment i saw him shaking her head rather vigorously and i went it's not true that

all across europe fourteen e.u. states impose sanctions on austria now there is barely a peep and in fact we hear the the social democrats in austria have not ruled out themselves entering a coalition with the freedom party what's going on i have feeling that the freedom party moved more to the center they tried to. get rid of people and positions extremists and far right of course there was a few arguments and t.v. discussions also were anti-semitism was lying under the surface but i think that you've got to to leave it there and not bring it up like before that's one point the other thing if i may i would like to come back to that how many witches this is our last chance in europe i disagree i think this is the biggest chance for what europe has now to to change the system to change the block towards more integration towards more europe with these societies and these countries that want to move forward ok let's come back to that in just a moment i saw him shaking her head rather vigorously there and i went it's no

is europe the e.u. is europe much broader i think it's very important in a way to clarify who to sort this out you know because usually when we mention europe people consider that it is only e.u. so the twenty eight order twenty seven if you consider that the u.k. still out. there is only as a way to look at what europe means and as you may know you know my last job. before creating the global com past was as a director of education and you said the council of europe and the council of europe. comprise forty seven countries and member states including russia including turkey including. crain and many other countries that are not part of the e.u. well aware mr buswell let me have them and they're all my question because when we talk about the european identity or the european values which by the way while we're at the center of the ukrainian calling for a conflict i think we in russia at least we mean first and foremost the european union and the values the so-called european values that it sets out to p

sure so i think indeed this shows that people in europe really want more flexibility there's all of europe more demand for. basically having more control over one's own fate i would say that's why we see all this populist movement in europe from the left or the right this is what they sort of having common they feel they're losing control over their own fate and indeed also the cuttle on the scottish independence movements they of course have always existed but in the last ten years they have become much more popular and again if we wonder how to deal with that i think we have to look at switzerland cicerone as a country where there's a lot of decentralization we're the decentralized entities the continents can decide it's over taxation policy too much larger extent than was the case elsewhere so and this really helps to keep switzerland together nobody in switzerland wants to wants to sort of secede from the country because the country allows a lot of flexibility people are generally happy with how swiss run this so if the e.u. is wondering how can we become more stable they have to look

rather than with more europe. when hungary was a candidate for the europe, a lot of people invested and got credit in euro currency and then had problems paying back their mortgage. he won a lot of votes and won the latest election. a group of core european countries will create the kind of extreme where others will follow or we had a situation where for a long time we have different speeds. of differentidea speeds has been debated for really be can there different speeds on immigration? the european court of justice, for example, has just rejected a challenge from hungary and on quarters. if austria tries to balk at taking more refugees, might it also wind up getting a reprimand? withe: yes, but i agree matthew. i think the issue is decided in the sense that no c cntry in all of europe e wants to take more refugees. any european country no matter which does not want to have more integration towards europe. that is even true of germany and also of the netherlands, of belgium. what will happen is, of course, the on

do you support the idea of two speed europe to support what. is proposing right now that those who want to move faster should move faster and have different type of economic zone and then those who want to stay where they are you know then stay in a different kind of this is the present situation of the treaties that you came. hoped for more cooperation or you can be a normal member and i'm sure that in some areas there will be much more engagement for instance in energy policy or indeed. cooperation to could be much more either we do it would to gevo or some moving faster than the race but i think if some are really trying to go ahead i'm sure most of the countries will forward so the idea of maque always not so much to divide to split europe but to give a wake up call to those who are a little bit more reluctant and that in most of the member states will come along. i want to hear your opinion on what the polish president andre do dat said recently he actually said that turning into a class society with some countries becoming second class me

so i think indeed this shows that people in europe really want more flexibility there's all of europe more demand for. basically having more control over one's own fate i would say that's why we see all this populist movement in europe ordered from the left or the right this is what they sort of having common they feel they're losing control over their own fate and indeed also the cuttle on the scottish independence movements they of course have always existed but in the last ten years they have become much more popular and again if we wonder how to deal with that i think we have to look at switzerland cicerone as a country where there's a lot of decentralization we're the decentralized entities the continents can decide it's over taxation policy to much larger extent than was the case elsewhere so and this really helps to keep switzerland together nobody in switzerland wants to wants to sort of secede from the country because the country allows a lot of flexibility people are generally happy with how swiss run this so if the e.u. is wondering how can we become more stable they have t

in europe, it's time for a show of confidence. only a courageous performance on the world's stage will persuade those hesitating within the e.u. who will do a better job. she or he -- one way or the other, this election will decide the course europe takes. damien: here in berlin you can really feel that an eltions about to happen. on the streets, there are more political rallies than ever. but what is the mood like in the rest of the country? we have been to the north german coast. because of the geographical location, it is one of the smallest constituencies in germany, the issues being discussed a there are very different to those in the rest of the cntry. >> lgeness is e of the lligen, 10mallslan off the north a cot. it's home to more ws than people. everything locals need is brought here by ship, including the ballot cards for the upcoming election. the polling station is the local school, which is attended by 19 children. the mayor is setting up the ballot box. not many politicians bother campaigning here. >> astrid damerow w

is europe the e.u. is europe much broader i think it's very important in a way to clarify who to sort this out you know because usually when we mention europe people consider that it is only e.u. so the twenty eight order twenty seven if you consider that the u.k. still out but is only as a way to look at what europe means and as you may know you know my last job. before creating the global com past was as a director of education and you said the council of europe and the council of europe. comprise forty seven countries and member states including russia including turkey including. crane and many other counties that are not part of the e.u. well aware mr buswell let me have them and they're all my question because when we talk about the european identity or the european values which by the way while we're at the center of the ukrainian calling for a conflict i think we in russia at least we mean first and foremost the european union and the values the so-called european values that it sets out to promo

would be far harder to govern asa europe would be far harder to govern as a europe of regions. on balance, they have more to lose. it is a developing story. trade between —— trade talks between britain and the eu are not happening. it won't happen until the eu side backs down on theirs, or britain on theirs. the eu has started to talk among themselves about trade with britain. they are always the imac also looking down under to forge closer ties with australia and new zealand. and eu trade deal with new zealand and australia will be in place by the end of his term in 2019, and this week, the eu side said talks are ready to move on to the next stage. the uk won't be able to open talks with australia and new zealand until it leaves the eu in march 2019, but the prime minister remains optimistic about reaching a deal, because these countries are part of the commonwealth, and they have historic ties to britain. the final eu trade deal with australia and new zealand will be carefully scrutinised by eu and uk representatives, because it could be viewed as a litmus test for the ty

tells us that earnings are soaring and the german airline is using its might to go on a buying spree in europe. going to be telling you all about it when we are back the face on is up next with the latest business news and one and i'll be back at the top of the hour. every journey begins with the first step and every language with the first word belief in the. eco is in germany to learn german why not learn a simple online on your mobile and free stuff from d w z learning course nikos big german made easy. g w true diversity. where the world of science is at home in many languages. on for thought of programming go in there you know may show you that you can show them with us our innovations magazine for in asia the us from every week and always looking to the future fund d w dot com science and research for asia. at. flying high tons of posts impressive numbers cashed up carrier pushes on with it's called. solid asian dr. that life is a debate drags on as a u. member states wrangle over a weed killer and saudi arabia reveals plans to build a mega city on stand. by benefits all in let's do busi

i don't think that europe or the e.u. is trying to impose its values it is indeed trying to promote its own set of values and i think it is important you know way to bring together and to create this esprit de corps among europeans and the way i think europeans can be proud of some specific and important achievement by the e.u. if you take for instance the leading role of the u.s. played for instance in the paris agreement on climate change i think you know there are a few specific positioning on global issues where europe is trying to come up with a set of common values and i don't see we can say we should say that it is trying to impose whatever minister but i agree with your point that there have been many achievements by the european countries and there are many values that people are quite naturally and genuinely are aspiring to but i think you would also agree with me that the european countries on a number of occasions joint military interventions to protect quote unquote democratic values that was perhaps not they

there are expectations for more europe, but also a different europe. the challenges —— the challenges that we face of the continent are bigger than what can be addressed by single member states, be it migrations or climate change, terrorism, trade competition... all these challenges you to be addressed at the european level. and there is a high expectation from the citizens to have a more efficient, more active, more dynamic europe. do you think there is a desire from the people of europe for, it too use your phrase, more europe? if you look at the polls, it shows more and more expectation about europe. which does not mean more trust about the way the european union functions at the time being. there is our lot of expectations, but it is also demanding attitude to saving be more efficient and do more. never mind the polls, look at reality. you know what happened in britain. you know, friendly, looking at germany, that there is now a significant proportion of the population in germany who are prepared to vote for an extremely eurosceptic and far rig

is europe the e.u. is europe much broader i think it's very important in a way to clarify who to sort this out you know because usually when we mention europe people consider that it is only e.u. so the twenty eight order twenty seven if you consider that the u.k. still although out but there's one knows a way to look at what europe means and as you may know you know my last job. before creating the global com past was as a director of phage occasion and you said the council of europe and the council of europe. comprise forty seven countries and member states including russia including turkey including. crane and many other counties that are not part of the e.u. well aware mr buswell let me have them and they're all my question because when we talk about the european identity or the european values reach by the way while we're at the center of the ukrainian kong for a conflict i think we in russia at least we mean first and foremost the european union and the values the so-called european values that it

i think europe is at least or some european countries are at least trying to face the end deal with the consequences of all of their own actions the united states. it was also a major player off of that intervention and yet we know that the trumpet ministration has just recently decided to cut the refugee selling at forty five thousand for the fiscal year of two thousand and eighteen reaches five thousand last done a year before and represents an new record low for the united states what do you make of that do you take it as an anomaly of the trumpet ministration or is it perhaps the continuation of a long a longer term trend i think that certainly mr trump has sort of created an alternative world when it comes to refugees and the numbers and where they're coming from and their requirements that they must meet etc etc and that alternative is cutting more than by half the numbers that mr obama had promised and the united states has always big on back and forth on this matters but lever to the degree that the trumpet ministration. has brought in terms of the numbers so clearly we have

there are expectations for more europe, but also a different europe. the challenges challenges that we face of the continent are all bigger than what can be addressed by a single member state, be it migrations or climate change, terrorism, trade competition, all these challenges you to be addressed at the european level. and there is a very high expectation from the citizens to have a more efficient, more active, more dynamic europe. do you think there is a desire from the people of europe for, to use your phrase, "more europe"? if you look at the polls, eurobarometer, it shows more and more expectation about europe. which does not mean more trust about the way the european union functions at the time being. there is a lot of expectations, but it's also a demanding attitude to, say, be more efficient, do more. but minister, never mind the polls, just look at reality. i mean, you know what happened in britain. you know, friendly, looking at germany, that there is now a significant proportion of the population in germany who are prepared to vote for an e

blackrock dominating the etf market in europe. you control five times the assets of your nearest rival. do you expect more competition? does that concern you at all? and do you think it will be across all etf asset classes? stephen: it does not concern us. i think we will see more people looking at the etf market as it grows. and i think probably, what we think, anyone who was looking at the etf market can play a positive role in driving a greater adoption. ultimately, i think this is an industry where you have large players and niche players. that is what you are seeing in the u.s., and i think that is what we will it evolved to in europe. nejra: you said that even though mifid ii could be a positive boost for the etf industry but it could take a while for this to translate into something tangible. how long are you thinking it could take and why exactly? is it about the fragmentation of the european market or something else? stephen: i think when you look at the rules, there are certain rules that can have an immediate impact. th

in particular europe and london. nejra: with all this regulation on the cards other than mifid ii, what does the buy side look like after it has absorbed all this legislation? >> it is a good question. i think that once we get through mifid ii and it is digested, the ultimate look of the asset management industry is it will be more transparent than it was before. it is probably going to see pressure on fees that it hasn't seen before. i think there will be more competition around, for investors and that will be a good thing. nejra: sean, thank you so much. head of market and regulatory intelligence, great to have you on the program. coming up, we talk cryptocurrency, bitcoin soared above $5,000 for the first time. we get the latest from washington. this is bloomberg. ♪ ♪ nejra: welcome back to bloomberg markets, rules and returns. there are two side to do introducing new regulation. on the one hand, regulation builds credibility and confidence in the marketplace. when the rules are not clear it creates uncertaint

in europe, it's time for a show of confidence. only a courageous performance on the world's stage will persuade those hesitating within the e.u. who will do a better job. she or he -- one way or the other, this election will decide the course europe takes. damien: here in berlin you can really feel that an election is about to happen. on the streets, there are more political rallies than ever. but what is the mood like in the rest of the country? we have been to the north german coast. because of the geographical location, it is one of the smallest constituencies in germany, the issues being discussed a there are very different to those in the rest of the country. >> langeness is one of the halligen, 10 small islands off the north sea coast. it's home to more cows than people. everything locals need is brought here by ship, including the ballot cards for the upcoming election. the polling station is the local school, which is attended by 19 children. the mayor is setting up the ballot box. not many politicians bother campaigning h

you joined is a valid europe anymore you say your government now apparently sees itself as protector of european values your prime minister said twenty seven years ago here in central europe we believe that europe was our future today we feel that we are the future so why do such as you what you've suggested here this from a man who boasted in twenty four to you know what i mean a real king with the dogmas and ideologies that have been adopted by your question suggested something which is completely untrue. we are not breaking away from the european values and the perception we had we stick to it and that's the difference others are trying to make is something different we have agreed to you believe that you are the future of europe we believe that that hundred that's quite a tall order for one goal geopolitical but hungary is not standing alone i mean if you take a look as for the past especially two years what are the bad boys in the european union you can name that better let's let's talk serious the central european country is eventually more than ten years after their accession

those who have to rights to stay in europe that were. granted asylum. or i was will will be for me perry in the reasons except it as residents of the european countries they have to be integrated and this is not of one way street. the the governments regional governments local governments have to offer the opportunities for integration but people has also be ready for integration we have in austria just in our piece discussion because some radical islamic movements are against the integration of. muslims who came to australia i was i'm favor i was i helping i was i want to be integrated so. it is also a cutie of migrants and refugees to contribute to the only to gratian learning the language of the country where they live accepting their way of living living in this country is accepting equal rights for men and women for example there's a clear request but what do you think is going to happen to those tens of thousands of people who god even are they going to end up settling in ghettos like in paris and other major cities no one should one should try to

let me turn to europe a bit. i understand what strategic autonomy anyones in the french sense, the nuclear deterrent and ability for full spectrum. the european union is using that term now, that term has been adopted in the groel strategy, strategic autonomy. i'm having a hard time understand what strategic autonomy means wind their european union setting. does this mean the eu can act independently from nato, from the u.s., at counter-purposes? i put that as a reflex because i think many in washington didn't fully appreciate after the horrible terrorist attacks in paris, president oland invoked article 42.7. never been invoked about the eu defense. did that do what the french president wanted to it do? a message of solidarity? did it put in your word that european intervention -- did it put eu defense into the mix? help us understand that. i think that's confusion. >> well, first of all, for the time being, there is a growing conscious within the european member states that their security is at stake. it's not

sign him in europe you know in one club from europe . here's the press it was with the sixteen yeah. with the national team and now it's the second. place on the press plane in europe from a top you know but he was the sec is a sort of. the new seems happy and scandal beo were given time to adapt he's making good money and his chance of playing in their own party wrote. the following offering to obtain yeah looks like it was the right. just again so i thought. i was i. going to miss. beard as a little sister's just a definitive as a father. just . couldn't it was over and. football is loved in africa. break players have come from the continent and they're successful everywhere they go but while the african coaches in europe's top leagues we ask are they simply not given the chance. very good job to go down to come on come on. look at an african coach puts his team through its paces this is forty. a traditional club in the dutch second division sunday only say is one of the first football players from africa to turn coach in the european

i think europe is at least or some european countries are at least trying to face the end deal with the consequences of all of their own actions the united see. it was also a major player off of that intervention and yet we know that the trumpet ministration has just recently decided to cut the refugee selling at forty five thousand for the fiscal year of two thousand and eighteen which is five thousand last done a year before and represents annual record low for the united states what do you make of that do you take it as an anomaly of the trumpet ministration or is it perhaps the continuation of a long a longer term trend i think that certainly mr trump has sort of created an alternative world when it comes to refugees and the numbers and where they're coming from and their requirements that they must meet etc etc and that alternative is cutting more than by half the numbers that mr obama promised in the united states has always begun back and forth from these matters but lever to the degree that the trumpet ministration. has brought in terms of the numbers so clearly we have a ne

the boy had a point about this is that you don't feel that the europe you joined is a valid europe any more you say your government now apparently sees itself as protector of european values your prime minister said twenty seven years ago here in central europe we believe that europe was our future today we feel that we are the future so why do such as you what you suggested here this from a man who boasted in twenty fourteen i want to enter breaking with the dogmas and ideologies that have been adopted by all question suggested something which is completely untrue. we are not breaking away from european values and the perception we had we stick to it and that's the difference others are trying to make is something different we have agreed to you believe that you are the future of europe we believe that that hundred that's quite a tall order for one goal jairzinho yes sure but hungary is not standing alone i mean if you take a look as for the past especially two years what are the bad boys in the european union you can name them better let's let's talk serious the central european coun

i think europe is at least or some european countries are at least trying to face the end deal with the consequences of all of their own actions the united states was also a major player off of that intervention and yet we know that the trumpet ministration has just recently decided to cut the refugee selling at forty five thousand for the fiscal year of two thousand and eighteen which is five thousand last days. the year before and represents and new record low for the united states what do you make of that do you take it as an anomaly of the trumpet ministration or is it perhaps the continuation of a long a longer term trend i think that certainly mr trump has sort of created an alternative world when it comes to refugees and the numbers and where they're coming from and the requirements that they must meet etc etc and that alternative is cutting more than by half the numbers that mr obama had promised and the united states has always big on back and forth on this matters but never to the degree that the trumpet ministration has has brought in in terms of the numbers so clearly we

open borders is about people coming from outside of europe and within europe i think on the continent there isn't all that much objection with internal eu migration in the way that there was here in the country here because i think that will be solved. lots of that will be very confused anyway. all of those outside europe people arriving in germany would come through the borders and have come to us, it was a much more anti—muslim, to put it crudely, feeling than it was really anti—polish or east european. crudely, feeling than it was really anti—polish or east europeanlj think anti—polish or east european.” think i agree with stephanie that the danger is not so much that the far right parties will take power because their rhetoric and thinking seeps into what used to be the centre—right parties and move the whole spectrum to the right. and i think that is happening and in europe we also have two very right wing governments, hungary, poland, czech republic, and so the issue is how to manage this so that it doesn't infect the whole system but i also don't think it is about i

they want like everybody else in europe to live in peace and to decide on their own. affairs so compromise should people feasible and i call upon to both sides to be ready to such a dialogue you know in carrying down and the united kingdom central government allowed secession referendums tribute them whether respect and personated people to state peacefully why didn't the same happen in spain. just to just to declare it's illegal is this not enough of it is of course not in accordance with the spanish constitution so. the musicians of the. constitutional court then the bill but. the this is the cut alone people should have to opportunity to express their opinion and i'm not sure that on the peaceful conditions there would be a majority for independence. but you're right the spanish government should be ready to accept the referendum with. full information of the people what does it mean what it means independence what it means and hence autonomy so and the question perhaps should not be only yes and no to independence by those zero option enhanced autonomy for catalon

you don't feel that the europe you joined is a valid europe any more you say your government now apparently sees itself as protector of european values your prime minister said twenty seven years ago here in central europe we believe that europe was our future today we feel that we are the future so why do such as you what you suggested here this from a man who boasted in twenty fourteen i want to enter breaking with the dogmas and ideologies that have been adopted by all question suggested something which is completely untrue. we are not breaking away from the european values and the perception we had we stick to it and that's the difference others are trying to make is something different we have agreed to you believe that you are the future of europe we believe that that hunger that's quite a tall order for one goal geopolitical but hunger is not standing alone i mean if you take a look as for the past especially two years what are the bad boys in the european union you can name them better let's let's talk serious the central european country is eventually more than ten years after thei

i came from eastern europe and now in europe and for many years in europe, the bad guys was churchill. and the british manipulating the situation in europe and there were a lot of people that were faithful to -- they wrote extensively on this. kind of leaves a question as to who interest, england just like germany operated through the 20th century. and raises also the issue of maybe that has a lot to do with why now, a lot of people are saying good riddance to england coming out of the eu even though it may hurt them economically. i wonder if you would comment with this act and the anti-english feeling that is so prominent in york particularly related to the world war ii in particular because no one is left to remember world war i. :>> where were you during world war ii? :>> i was a child in eastern europe. :>> where in eastern europe? >> when mcgovern had bombed -- in romania. they were told to drop the leftover bombs in the field so that they can get across the mediterranean but they decided that it would be a shame to do that so they dropped it on the capital city of romania which

macron who put forth his grand vision for europe? that might be hampered by the inflexibility of angela merkel and her coalition talks. what do you make of mr. macron his popularity ratings have fallen somewhat. the honeymoon period is over somewhat do you think he has what it takes to integrate further. >> i think macron's speech last week was a very, very pro european concise, strong message full of hope and full of realism. very pragmatic and full of hope. i think the couple, macron and merkel, if this couple works in an inclusive way, including italy, spain, other founding fathers of the european union, if they work to avoid in an exclusive way, i'm optimistic for the future of europe i think they can have the strength and what jlegitimacy merkel is in her fourth term she knows she has to leave a legacy, and macron is strong in france with a large, clear majority what is very important, macron had a strong pro european mandate because the voters in france, in the second turn of elections against marine le pen, they voted for macr

let me turn to europe a bit. and i understand what strategic autonomy means in the french sense of the nuclear deterrent and your ability for full spectrum. we now -- the european union is using that term now, that term has been adopted in the global strategy, strategic you a on the mow. and coleman mentioned those in his speech. but i'm having trouble understanding what youautonomou deterrent means in the european union. can it detract from the nato and theous as counter-purposes? i put that question to you because i don't think many in u.s. didn't appreciate under the horrific terrorist attacks in paris, president holland didn't invoke article 47. invoking that did it do what the french government wanted it to do, it was a message of solidarity. in your words. a european initiative, did it put the eu defense into the mix? help us understand. i think there is confusion. >> first of all, today, for the time being, there is a growing conscious within the european member state that's -- their security is at stake i

how is their integration going those who have to rights to stay in europe that. granted asylum. or i was will will be for me perry in the reasons except it as residents of the european countries they have to be integrated and this is not of one way street. the governments regional governments local governments have to offer the opportunities for integration but people has also be ready for integration we have in austria just in our piece discussion because some radical islamic movements are against the integration of. muslims who came to australia i was i'm favor i was i helping i was i want to be integrated so. it is also a cutie of migrants and refugees. to contribute to the only to gratian learning the language of the country where they live accepting their way of living living in this country is accepting equal rights for men and women for example there's a clear request well what do you think is going to happen to those tens of thousands of people who got eighteen are they going to end up settling in ghettos like in paris and other major cities. no one shoul

it looks very much in line with the rest of europe. the front of center story for us in europe. as matt already indicated, it will get more complicated as we work our way through the next 90 minutes. we have under 90 minutes until we have catalonia making that decision, the spanish government have given the catalonian president until time a.m. -- time.a.m. local this is what the -- matt was talking about. if that were to happen then that hashen charles puigdemont been pushed to say we will unambiguously declare independence.

to europe where a lot of money like. you're like hundreds of thousands of others the brothers hamas and trying to reach europe since the beginning of two thousand and fourteen at least two hundred thousand unaccompanied child migrants have managed to cross europe's borders but according to the authorities at least ten thousand of these children have. vanished on route and one estimate of unreported cases puts the figure at twice even three times that . who are these children and how did they manage to make themselves invisible we followed their trail from spain italy and greece across europe and often found ourselves straying into dangerous parallel worlds. you're. malaya the spanish enclave on the coast of north africa which shares a border with morocco. there are around three hundred unaccompanied child migrants here at the moment. we start our search in a place where we can be sure of finding some lab is a reception center for boys traveling alone most american and only come here occasionally in the evenings they pref

we believe that europe was our future today we feel that we are the future so why do such as you what you've suggested here this from a man who boasted in twenty four to you know what i mean a real king with the dogmas and ideologies that have been adopted by your question suggested something which is completely untrue. we are not breaking away from the european values and the perception we had we stick to it and that's the difference others are trying to make is something different we have agreed to you believe that you are the future of europe we believe that that hundred that's quite a tall order for one goal jairzinho yes sure but hungary is not standing alone i mean if you take a look as for the past special two years what are the bad boys in the european union you can name that better let's let's talk serious the central european country is eventually more than ten years after their accession to the european union has come to their. full fledged perception of how they believe the opinion should be working and i believe this is something new there are some european powers divest

long mexico and short core europe. that is one way to play it. jonathan: you want to be short duration and long yen? cufflink, do you agree with -- kathleen, do you agree with that? kathleen: i like long. i would not go short duration. that is a huge give up. currency is the key in the market. jonathan: kathleen gaffney, sticking with us along with joern wasmund and jack flaherty. coming up on this program, stranger things happening in the auction block this week. some really interesting supply coming to the market, including netflix. we will get to that in a moment. from new york, this is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." i want to head to the auction block. netflix is burning through cash as it invests billions in programming. to invest those billions, they needed to raise the money in the debt market. they sold $1.6 billion in bonds, the largest dollar denominated sale ever to help produce that content. junk rated notes yielded 4.875%. over in sovereigns, a few notable offerings in a

>> i came to europe by lampedusa. >> lampedusa. >> yes lampedusa. ,reporter: the outcome of the questioning will determine whether the man is sent back to austria. only if he names credible reasons for seeking asylum can he apply to stay in germany. it takes about three hours for officers to determine whether his fingerprints have already been taken elsewhere in europe. but ultimately, it's the questioning that determines his fate. >> he said life in italy did not meet his expectations, and that is why he came to germany. but that is not a legitimate reason for seeking asylum, so he will be sent back. reporter: the stowaway will be sent to austria and from there most likely to italy. e.u. law requires refugees to seek asylum in the first country they reach. for now at least, his dream of reaching germany is over. brian: poland is among the worst countries to live in for europe's homosexuals. now, that's according to the rainbow poll from last year, evaluating gay life across the european union. under poland's national conservative law and justice pa