the imf has really started putting the pressure on the eurozone. >> a political tug-of-war. the head of the imf, christine lagarde, made a raft of calls in berlin, including further increasing the newly bolstered bailout fund. she said without more action on the eurozone debt crisis from politicians, the world faces a 1930's style depression. but chancellor angela merkel is against christine lagarde's proposals, and she is not alone. >> on a visit to germany, the new prime minister of belgium give his support to german chancellor angela merkel. they both think europe should first get measures in place that have already been agreed before bringing in new ones. angela merkel is firmly against boosting the new rescue fund right now. >> i do not think it is right to introduce new measures before we have even implemented at the last decisions we made. we need to get the european stability mechanism going, and that will be on the agenda next week. >> but imf managing director christine lagarde says she wants to see extra funding for the esm before it is introduced in mid- 2012. >>

at 7:00 in the evening the imf told us what we should do. they said this, we do not think that fiscal consolidation adds to the problem. fiscal consolidation is part of resolving the problem facing the u.k. economy. [shouting] that is the truth, mr. speaker. there are two parties in this country taking responsibility for clearing up the mess. there is one party refusing to take responsibility for causing the mass. [shouting] >> david rutley. [inaudible] has recently been censured in their report into the shambles. can the prime minister tell the house when the forfeiture committee will be sitting to consider stripping this man of his ill deserved -- >> the forfeiture committee will be meeting as i understand this week. and it would be considering all of the evidence including as i've said before the financial services authority report into rbs and what went wrong and who is responsible for what went wrong. [inaudible] does the premise agree that in scotland the people are sovereign and, therefore, for improvement have the right to determine

at 7:00 in the evening the imf told us what we should do. they said this, we do not think that fiscal consolidation adds to the problem. fiscal consolidation is part of resolving the problem facing the u.k. economy. [shouting] that is the truth, mr. speaker. there are two parties in this country taking responsibility for clearing up the mess. there is one party refusing to take responsibility for causing the mass. [shouting] >> david rutley. [inaudible] has recently been censured in their report into the shambles. can the prime minister tell the house when the forfeiture committee will be sitting to consider stripping this man of his ill deserved -- >> the forfeiture committee will be meeting as i understand this week. and it would be considering all of the evidence including as i've said before the financial services authority report into rbs and what went wrong and who is responsible for what went wrong. [inaudible] does the premise agree that in scotland the people are sovereign and, therefore, for improvement have the right to determine

the imf would probably agree. it the euro zone crisis continues to fester, the shadow hanging over the economy will not be lifting any time soon. >> syria has agreed to extend the arab league monitoring mission by another month. five more states have pulled out of the mission. greece and france and germany are working on it resolutions put before the security council condemned syria for its violent oppression of protesters. >> activist outside u.n. headquarters demand the security council intervened to stop the violence in syria. the deeply divided council has been sitting on its hands, is the message. syria and russia have blood on theirs. more and more attention is shifting to the security council. the arab league has acted to support a peace plan for syria. the observer mission in syria is collapsing. the question is what the council will do now. the air of monitoring team was supported by all members of the security council. that was the bare minimum on which they could agree. it is not clear if this will expa

at 7:00 in the evening the imf told us what we should do. they said this, we do not think that fiscal consolidation adds to the problem. fiscal conlidation is part of resolving the proble facing the u.k. economy. [shouting] that is the truth, mr. speaker. the are two parties in this country taking responsibility for clearing up the mess. there is one party refusing to take responsibility for causing the mass. [shouting] >> david rutley. [inaudible] has recently been censured in their report into the shambles. can the prime minister tell the house when the forfeiture committee will be sitting to consider stripping this man of his ill deserved -- >> the forfeiture committee will be meeting as i understand this week. and it would be considering all of the evidence including as i've said before the financial services authority report into rbs and what went wrong and who is responsible for what went wrong. [inaudible] does the premise agree that in scotland the people are sovereign and, therefore, for improvement have the right to determine their

a very stark warning for the eurozone out with the imf. >> the threat of a major recession. if the situation gets worse, the bloc could see a 4% contraction in gdp over the last two years. -- over the next two years. >> in its revised global outlook, the imf says gdp will grow even slower than initially forecast. incites the eurozone and sovereign debt crisis as a major factor in says the recession is on the brink of a mild recession. >> the world recovery, which was weak in the first place, it is in danger of stalling. the center of the danger is europe. the rest of the world is increasingly affected. >> the imf was less competitive states like greece, italy, and spain to press on with reforms, and to make sure struggling economies are adequately protected, it is calling for europe to boost the size of the pending rescue fund. >> the larger rescue fund will generate confidence. when people have confidence, interest rates fall and reforms can have a positive midterm effect on growth. >> the imf also wants europe to continue tackling national debt burdens. it does not want to

a very stark warning for the eurozone out with the2 imf. >> the threat of a major recession. if the situation gets worse, the bloc could see a 4% contraction in gdp over the last two years. -- over the next two years. >> in its revised global outlook, the imf says gdp will grow even slower than initially forecast. incites the eurozone and sovereign debt crisis as a major factorn says the recession is on the brink of a mild recession. >> the world recovery, which was weak in the first place, it is in danger of stalling. the center of the danger is europe. the rest of the world is increasingly affected. >> the imf was less competitive states like greece, italy, and spain to press on with reforms, and to make sure struggling economies are adequately protected, it is calling for europe to boost the size of the pending rescue fund. >> the larger rescue fund will generate confidence. when people have confidence, interest rates fall and reforms can have a positive midterm effect on growth. >> the imf also wants europe to continue tackling national debt burdens. it does not want to p

recently the european union had pledged about $200 billion to the imf. the organization hopes to boost the funds available for any market contingencies as the euro debt crisis grows and as the outlook for the world economy may get worse. attention is now on whether japan and emerging economies, including china, will contribute. the g-20 financial ministers and central bank governors are expected to discuss the imf move at a meeting in mexico in late february. >>> the u.s. treasury department said on wednesday that the imf can play an important role in europe, but only as a supplement to the region's own efforts. it also said that the u.s. had told its international partners that it has no intention of seeking extra resources for the imf. >>> france has unveiled a $550 million plan to improve the country's job situation. french president nicolas sarkozy made the announcement after meeting labor union and business leaders on wednesday. he said they agreed to provide job training to those who had been unemployed for at least two years. the plan also include

>> well, the imf -- the united states is the largest shareholder to the imf and that's still certainly a consideration all the way up to the new president, christine lagarde, talks about the united states as being her primary constituent in terms of the contribution of the united states effectively gives it a veto over any major decision that the fund will take. so we certainly play the preeminent role. i call it the preeminent legislature, and i think that's why it's really important to look at our congress. not just because our institutions are divided differently or that we don't have a parliamentary system of government, but it's very important to look at our congress because it does donate -- i don't want to say donate, but it provides so many of the resources that these organizations have. >> finally, what do you see is the future of the relationship between the united states and the global organizations? >> well, just like the rest of the future when it comes to banking and economic relations, the future is uncertain. because the problem i see ahead is that the old resolution to

. >>> $1 trillion, the imf puts a price on fixing the world's finances. >>> political turmoil brings economic hardship in syria. we speak to the people who are feeling the pain. >> and the captain of the capsized cruise ship in italy reportedly says that he abandoned ship after tripping and falling into a life boat. >>> first up, though, the imf says it needs more money to safeguard the euro zone and the wider global economy. but in order to keep a large chunk of the developed world affront, it seems as though developing world countries will be footing much of the bill here. the imf is hoping to raise an extra $500 million in the short term and may double that over the next few years to come. $200 million has been pledged by eu nations but with washington refusing to prop up the euro zone and, of course, uk wavering on its own contribution, the lenders calls could yet go unanswered and the trouble with europe could potentially deepen, andrew. >> that's right, nina. the heart of the trouble obviously as we've been reporting is greece. there's still no resolution on lightening athens d

i should say about the imf imf, more than the other global institutions they have begun to recognize this and it is striking the imf and chief economies are criticizing europe for carrying out those policies that they advocate. europe is in a recession carrying out austerity policies which is the worst thing to do in a recession and the imf counsels them not to do that but we try to stimulate the economy. it is not pretty but they are coming out of the background tradition which to is rooted right here and economic planning and policies which had pretty ugly consequences over a decade those that have been casting them aside sometimes beginning to prosper that is why latin america has had substantial improvements over the last decade. it is significant but it is not ischium by any means. >> if you have not been down to occupy wall street please go down and say hello. [laughter] -- . [applause] by the greed should support them however we can. >> the way we continue to fight our wars has a devastating effect on who we are fighting with members of the military are coming home what do we

the latest imf forecast for spain, italy, portugal. these countries will contract more than was in the original budget plan, which means their budget situation will get worse not better. >> oh, it is. it's that imbalance between these very high interest rates on the debt and, therefore, your interest burden is growing and your economy is not. the economy is the way to pay that interest burden. i think you have it right, ross. there's this imbalance out there that will persist over time and we try to keep on catching up all the time but we're getting into this crisis fatigue in the marketplace and that's why i think an investor looking at this says, heck, the euro is going to weaken. interest rates in europe are going up. i want to be some place else. i'll be in emerging markets. i'll be in the u.s. equity market. i just want to avoid europe right now because of the fatigue in terms of crisis. >> john, hi, this is christine here in asia. we've heard the imf say they are resilient. how resilient is the u.s. economy to what's happening ov

. >>> by 2016, according to the imf, the world's leading economy will be a economistic dictatorship. that's in five year's time. think about that. if the imf who is elected next november will be the last to preside over the united states -- >> columnist and author mark steyn has published five books. he writes the happy warrior column and is a frequent guest host on rush limbaugh's radio show. and live sunday your chance to call, e-mail and tweet with your questions live at noon eastern on book tv on c-span 2. >>> it would be intolerable if a handful of violent people, and that is what it is, just a handful, could harden us against needed change. i've seen an uglier violence, too. it perverts the very spirit of america. i saw it at the republican convention in 1964 when governor rockefeller was shouted down. i saw it in minneapolis, when governor wallace, a man with whom i disagree was heckled into silence. and it happened to me in philadelphia. we must give notice to this violent few. there are millions of decent americans who are willing to sacrifice for change. but they want to do

the -- the imf is seeking more funds. >> yes, a lot more money. $500 billion. it could help countries in the eurozone that is struggling to pay off their debt. who would provide the extra money? >> what is not clear at this stage is that. what we do know is that it will not be the united states. the treasury put out a statement this afternoon saying that it has no intention to ask congress for any extra money to go to the imf to help bail out struggling countries. even if it wanted to, it is highly unlikely that congress would allow it appeared there in the process of trying to clear their money back from an emergency donation for imf donations back in 2009. it is not coming from here -- europe has already put up two hundred billion dollars u.s. thd. so it is likely to come from emerging market economies, china, india, brazil, and russia. >> absolutely, from the emerging market economies. the likes of the united states are hemorrhaging money and a lot of countries right now, particularly developed economies, have budget deficits and basically their growth is ex

it is imf money and very likely and german money. the one under 30 billion-euro rescue package -- 130 billion- year-old mr. package depends on athens making the agreement. listen to this. >> the hedge funds and even mainstream banks are holding insurance against default. they are secretly hoping that things will fall apart, there will be a disorderly default, and they can collect the insurance claim on the of all, basically. -- on the default, basically did european union officials and the imf are trying to cover that situation. >> if they don't reach an agreement, everybody says that greece is likely to default on 18.5 billion. >> see you back here again. >> probably tomorrow. >> emergency crews have resumcud some passengers from the italy cruise ship nine days after it crashed off italy's coast. the number of debt has risen to 13 after divers found another body. we get the latest on the questions of those passengers. >> we have a number of questions on unregistered passengers. a hunk and family -- hungarian family had rung the auth

the imf kept the outlook for the u.s. economic growth unchanged at 1.8% and downgraded its forecast for the eurozone by 1.6 percentage points to minus 0.5%. the outlook for the japanese economy was downgraded to 1.7%, which is a drop of 0.6 percentage points. among emerging economies, the growth outlook for china was revised down by 0.8 percentage points to 8.2%. the imf also downgraded its outlook for the global economy in 2013. that's to 9%. this is also down 0.6 percentage points from the previous forecast. >>> the european union is considering imposing sanctions on hungary for failing to take appropriate measures to cut its budget deficit. eu finance ministers agreed at a meeting that hungary has failed to comply with an eu recommendation to bring its deficit below 3% of gdp. regulations introduced last month allow the eu to punish member nations for violations of fiscal discipline. the eu is likely to suspend grants and impose other sanctions if hungary does not change its budget policy. hungarian finance minister gy

reach the government's target, and the situation could worsen unless the government talks with the imf and eu. >> thanks. the czech republic has granted political asylum to the husband of the former ukrainian prime minister who was jailed last year for abuse of office. a lawyer said alexander, in the pictures coming up here, had asked for asylum because the government in kiev have launched a criminal probe against him in order to pressure her. both the eu and united states say her conviction was politically motivated. turkish police have arrested a former head of the military in connection with an alleged plot to destabilize the government. the general is being held after several hours of questioning last night. prosecutors allege that he was part of a plot by the military to fund and internet campaign aimed at discrediting the government have the time the -- the government of the prime minister. several suspects including senior generals and admirals, have already been charged in the case. it is one of the oldest acquires in the world, and no doubt, johann sebastian bach' would be pro

are germany and the imf still fully behind greece? >> certainly, they are. chancellor merkel has repeated that, of course, she does not want greece to lead the eurozone. she wants to see that country, you know, moving forward and strengthening its economy. but she has reiterated that greece must do more to implement the reforms, the fiscal reforms, that it has agreed to before support money can be paid across. there is 130 billion euros up european support money that has been waiting to go to greece since december. she said the catalytic a when there are real signs that greece is implementing the necessary reforms. one other thing that the private investors, people who have lent money to greece, they want to know the details of the restructuring of the debt, the 50% write-down they have been asked to agree to. until they know what the terms are, they are unlikely to agree. so the pressure remains on those talks continue. simon, thank you so very much for now. let's go over to steve. a very different story for france, which has hurt some reassurances today. >

are germany and the imf still fully behind greece? >> certainly, they are. chancellor merkel has repeated that, of course, she does not want greece to lead the eurozone. she wants to see that country, you know, moving forward and strengthening its economy. but she has reiterated that greece must do more to implement the reforms, the fiscal reforms, that it has agreed to before support money can be paid across. there is 130 billion euros up european support money that has been waiting to go to greece since december. she said the catalytic a when there are real signs that greece is implementing the necessary reforms. one other thing that the private investors, people who have lent money to greece, they want to know the details of the restructuring of the debt, the 50% write-down they have been asked to agree to. until they know what the terms are, they are unlikely to agree. so the pressure remains on greece tonight. >> as those talks continue. simon, thank you so very much for now. let's go over to steve. a very different story for france, which has hurt some

i know the imf had concern about a downgrade. >> our forecast was 3.7%. imf came out with 3.3%. this kind of difference doesn't make much sense. >> the other thing i wanted to talk to you about, how much foreign direct investment is being withheld because i know you don't have clarity of putin 2.0. also the protests that we saw at the end of the year, people woke up and said i didn't realize it. it almost seems like arab spring ii. how would you explain what we see on the ground? >> in russia it's a completely different story. it's the active middle class which has grown greatly. no one predicted that growth. we now have almost 30% of people which are middle class. >> they're not happy though, you know this? >> they are not happy. >> educated population. >> absolutely. >> what's the problem? what's the disconnect here? >> the problem is that we grow too fast. we grow too fast in economy, democracy. we learn. what is going now, our political system is getting more mature, you know. that's what's going on. just to remind you, comparing to the soviet union 20 years ago, it's a comp

the imf say oil rich nations are expected to grow about 4% this year. this growth could be hammered by a global economic downturn and the eu debt crisis. it is the oil importers who are suffering the most. two nearby yeah's economy is expected to grow 3.9% following zero growth last year. egypt's economy is expected to grow 1.8% this year, a dramatic fall compared to 5.8% in 2010. >>> middle east and capital partners, which is a private capital firm, i spoke with them about what's going on with the arab spring and when he thinks the economy will regain momentum. >> my view of the arab spring and the opportunities that it presents is, number one, very favorable. i believe that these opportunities will become available in the next 18 months. i am a firm believer to be a leader rather than a follow lower. i think a lot of institutional money may come much, much later. i think those that are savvy investors, those that are focused, those that work in partnership with these governments i believe they have a huge potential opportunity in front of them. >> on

a deal would open the way for more funds from the imf and the eu. they would also calm market fears of contagion. what ever happens, there's a lot at stake for the banks. >> as of the end of october, commerzbank was carrying 1.4 billion euros in greek sovereign debt on its books. analysts think a further write- down of the greek debt is unavoidable. negotiations to join the greek government and private sector lenders over voluntary writedowns have been stalled for months. at the crisis summit in october, european leaders agreed that banks and insurance companies would have to write down the greek government bonds they hold by 50%. that would relieve greece of some 100 billion euros of debt burden. if the talks fail, default for greece would loom. and it that would mean an even larger hole in, or its bank's capital reserves. >> to last year's last year's biggest banks -- bankruptcy and germany, the maker of printing presses will now be broken up. officials have agreed to its biggest plant going to a conglomerate. two smaller plants said to be restruc

the imf refused to grant a hungry anymore loans on last they abandon their reforms. on to the swedish furniture giant, ikea. have posted a record profit of nearly 3 billion euro, 10% up from the previous year. the best performing markets include germany, the u.s., russia, and china. despite increases in raw materials, they managed to lower prices for consumers. that's something you did not hear very often. ikea only operates 300 stores worldwide, but they have announced major investments saying warner stores and factories are on the way. europe's biggest drug store chain has gone bust. schlecker has filed for bankruptcy protection after a long battle with finances. they have shut down hundreds of their shops, but that obviously was not enough. 13,000 jobs are now on the line. >> the announcement comes as hundreds of stores undergo modernization, but the chain has long been on shaky footing. it also runs five times as many shops as its rivals. schlecker earns 500 million euro, and the average other shots and bring in 3.5 6 million euro on average. industry analysts sa

criticism from the imf, the u.n., and the european union has not altered the progress of legislation. they began talks on a 20 billion euro imf and european the loan to tide over the economy. >> live from singapore and london. still to come, republican hopefuls get ready for their first test, the iowa caucus. >> preparing for the indian ocean. reports on an anti-private -- piracy project in the philippines. police have named four people found dead at a formal -- a former mining village. it is understood he was licensed to own six firearms. three people managed to escape. >> it was a shocking sight for neighbors this morning, four killings on the street where they live. there could have been more. three people managed to escape and a police are now hoping to establish what happened. >> our information is that several people had been shot. the police were dispatched to the scene and, shortly after midnight, officers entered the house and it was discovered that a man and three women were dead in the house. >> what we know about the people living there? michael after 10 and susan -- ather

you have the imf and the eu making sure agrees is doing what is supposed to be doing. greece is the word once again. >> yes, eu and the imf are on the ground today in athens making sure they are sticking to those austerity measures. here is the problem, george. greece's future financial future depends on all these people who hold greek debt. the problem is, those talks have fallen apart. needless to say, this week is very important for greece. here is why. >> they are trying to get the deal in place for the restructuring ahead of the ministers of finance meetings next week. the real deadline is coming up sometime in march, where greece has to roll over about $14 billion of existing debt -- rol. >> that's the key question once again. we will be sitting here tomorrow, wednesday, thursday, and friday talking about this. >> thank you. british scientist in antarctica are preparing to drill into an underground lake two miles beyond the ice. they will send a probe into lake ellsworth to uncover what they hope will contain new forms of life and clues about climate change. >> t

the imf said last week from washington that they will not do anything without eu approval. the hon gary and government -- the hungarian government has to convince the eu and somehow win back its credibility within the eu. >> it does seem as though some sort of resolution will be found. >> thank you very much for the update. >> thank you. the five remaining contenders from the republicans to face president obama have squared off in south carolina. there were repeated attacks on the favorite, mitt romney, who has the trees in iowa and new hampshire. he still holds a healthy lead in the polls. from washington, here is steve kingstone. >> then there were five. mitt romney wins again on saturday and the republican race will be all but over. his rivals attacked him here on deficit reform. >> mitt romney's plan is not bold. we have deficits now in social security and medicare. he wants to say we will not touch anyone now. >> and on his reluctance to release tax returns. >> we need for you to release your income taxes, so people of this country can see how you make your money. i th

the euro zone and imf and germany are saying we don't accept that. we will only approve athens to pay around 3.5% in terms of the interest rate that is the sticking point. that's about half percent. to make it precise. the euro zone wants it below 4%. the euro zone finance ministers are telling greece that it has to make an agreement in a few days or you will not get the $130 billion bailout. they could default. >> marvelous. >> i don't know about that. >> irony. it all comes down to jobs. >> international labor, it's not a rosy picture. there's a global reports that says the situation -- the global labor market is worsening. they are very worried. 600 million jobs need to be created over the next 10 years. we have 1.1 billion people in this world without a job or in poverty. one out of three and a workforce don't have a job in the moment -- at the moment. it is a major concern. in about 17 minutes i will talk a little about irony. >> thanks for joining us. you're watching bbc world news. the defending australian open tennis champion knocks out the w

in fact, it's kind of striking that the imf, chief economists have been criticizing europe for carrying out the kind of policies that they've advocated. europe's if a, you know, recession, and it's carrying out austerity policies which is the worst possible thing to do in a recession. and the imf has actually counseled them not to do that and to turn towards trying to stimulate the economy which we should be doing too. so it's not a pretty story, but, you know, they're not just devils, and they're coming out of a background tradition which is rooted right here mostly in economic planning and economic policies which have had pretty ugly consequences over decades. the countries that have been casting them aside and pulling themselves out of it are sometimes beginning to prosper. that's one of the reasons why latin america has had a substantial improvement over the past decade. also moves towards independence that's significant. but it's not a scam by any means. [laughter] >> i'd like to say before anymore questions if you haven't been down to wall street, the occupy wall street, please, g

. >> we think it is important to reach an agreement with the imf and the eu. we want to move towards a deal. we are ready to n negotte without preconditions, and we are ready to discuss everything at the negotiating table. >> the hungarian currency slumumped new lows this week. that, plus the new higher cost of borrowing, has put pressure on the government to make a deal. many analysts say that market confidence in theovernment has now hit rock bobottom that is reflected in the the minister value of the currency against the europe. and the increased value of default insurance for government bonds. an auction this week failed to reach the government's target, and thee situation could worsen unless the government talks with the imf and eu. >> thanks. the czech republic has granted political asylum to the husband of the former ukrainian prime minister who was jailed last year for abuse of office. a lawyer s said alexander, in te pictures coming up here, had asked for asylum because the government in kiev have launched a criminal probe against him in order to pres

>>> nina, the imf chief christine lagarde is a long way from europe. she's on a trip to south africa. europe's troubles were never far from her mind even as she tried to put a positive spin on that. robin kerno sat down with the imf chief. >> reporter: we start off the year and it seems as if all those problems with the eurozone are back to bear. >> we need to be very taenttive to what is being done and effectively delivered in europe. if you look at what has taken place in the last 12 months, significant progress has been made in terms of bailout mechanism, in terms of acceleration of stability funds such as the european stability mechanism, in terms of collective determination to have common fiscal policies and sanctions and disciplines when it is not happening. so a lot is happening, and there is a slight tendency to sort of downplay and downgrade anything that is being done at the european level because it happens more slowly than what markets would expect. >> do you agree with most people in the financial markets that really it's only the ecb, the

unless workers accept major wage cuts, athens may not receive its next round up eight from the eu and imf. the connecticut face in the fall as soon as march without the funding. >> the greek government will need 17 billion euros of eu bailout funds in the month of march alone. but strict conditions have been linked to getting that cash. next week, representatives from the trick of the european commission, the europeans a dropping, and the international monetary fund are due to visit athens to assess whether those conditions, which include spending cuts, are being met. greek prime minister lucas papademos has fallen trade union executives to support moves to cut labor costs, a plea they rejected. >> regarding the national collective labor agreement and the minimum wage of the low-wage workers, we say we're not willing to take a single step back. >> greece has been in recession since 2008, and the eu commission does not expect the greek economy to grow again until 2013, and even then only at a very slow pace. greece has been frozen out of the capital markets since 2010, with private investo

but for the imf to get involved, it has to go to its main sta stakeholders, that is the united states. a new source of capital would have to be china. do you think they would go for a solution like this? do you think that the chinese are in the mood to contemplate some greater kind of global responsibilities? because after all, if what niall is describing happens, it's terrible for everybody, including the chinese economy. >> i'll give a two-part answer. the first part clearly china, india, the rest of asia does not want to see europe go over the cliff. because as you said, nobody knows. what's going to happen. if the eurozone cracks up, nobody knows what's going to happen to the global economy. nobody wants that to happen. so as you saw in the london summit when they had to inject new money into imf, china came up with money, in that kind of scenario where you're at the edge of the cliff, everybody else is putting their share in, i think china will put their share in proportionally. but back to the answer which is far more important is the long-term solution for europe is to go to wh

actually there is not enough money in europe to do a prob proper bail-out, and you need to get the imf involved, but for the imf to raise capital, it has to go to its main stake holders, that is the united states, but the principal soarings of new capital would, of course, have to be china. do you think the europeans would go for a solution like this, but do you think that the chinese are in the mood to contemplate some greater kind of global responsibilities because after all, if what neil is describing happens, it's terrible for everybody, including the chinese economy. >> well, i would give a two-part answer. the first part clearly china, india, the rest of asia does not want to see europe go over the cliff because, as you said, nobody knows what's going to happen. if the euro zone cracks up, all bets are off. nobody wants that scenario to happen. as you saw in the london summit when they had to inject new money to imf, china came up with $50 million where everyone else, and that scenario where you are at the edge of the cliff, everybody else is putting -- i think china, other asian

neil, the or else is, according to the head of the imf, facing a 1930s-like moment. what exactly does that mean for us? >> what he's saying in regard to the former finance minister is saying if europe doesn't get its act together, it could tumble into a depression. that is not a stretch. if things are going as they're going now, greece's debt is on the verge of being downgraded yet again today, it could easily be a house of collapsing cards here which he is saying is that if europe doesn't get ahead of this, they're going to be consumed by this. the question is, how do you deal with it? what she seems to be hinting at is budget cuts, that sort of thing, can only go so far, raising taxes can only go so far, and that's their dilemma. but it does serve as a reminder here ahead of the president's speech tonight, jenna, that there's only so much you can do in terms of raising taxes on the upper income, whatever the policy du jour will be tonight to get out of the mess here. what the imf chief is saying that particular genius has run out of particular tricks ask cures. jen

while we're here quibbling about a greek deal and it now seems to have come down to the imf needs to be squabbling over whether maybe the ecb or some public body needs to take a hit on their holdings. >> it's ridiculous. i remember being in washington in september. then it was hoped that europe would come out with this big bazooka of such that the imf might come in to help. at that time it was talked about this firewall needing to be about 2 trillion or 3 trillion euros. we didn't see any comprehensive action then. politicians have been very slow. they've neither been comprehensive or fast enough for the markets and the challenge, and this was highlighted when chancellor merkel spoke in davos the other day, they're talking regionally but acting nationally. they're saying the right thing but then they don't actually do it because they're playing to their domestic audiences. i don't think greece can survive and the markets will then worry about what will happen next. >> this is christine. just to follow up on the exact point you were making about greece not surviving in the eurozone. a

it lends money to the imf. the world of modernity that inspired the architect of brazil may look a little out of date. brazil is very much a modern nation. >> among brazil's most precious natural resources is the amazon rain forest. important expanses of the earth's surface are being destroyed. in 2005, the government reported that 1/6 had been cleared by deforestation. >> in a sleepy town on the edge of the amazon, officers found the brazilian environment agency 3 lacks in the minutes before a jumble rate. relax ine in the -- the minutes before a? a jungle raid. >> he says there is nothing to worry about. >> for years, before its frontier was out of control. in 2004, an average of 20,000 square kilometers of flores was lost every year. -- forest. was lost every year. what has changed is the attitude of the. discovered -- brazilian government. 8 years ago, brazil realized it had a unique opportunity. it could go green, cut carbon emissions by just stopping the destruction of the forest. it would barely affect e

imf toward three polling place in manchester, new hampshire. how is the turn out so far? >> very good. nice and steady. >> it started it 6:00 a.m.? >> 6:00 a.m., and the poles will stay open until 7:00 p.m.. ifclassify an undeclared war and want to vote for republican candidate, what do i do? >> you walk up to a ballot instructor and will be given a piece of paper that says you must declare one party or the other. you'll also get a piece of paper that will let you change back to undeclared after you submit your vote. >> i can become a republican just for the election? >> that is correct. >> that is unusual? >> live free or die in new hampshire, but it is a federal law. >> new hampshire people love that. >> absolutely. >> bill gardner is estimating a turnout of about two hundred 50,000 people. is that what you are seeing here? >> i would say that is probably about right. he would no more than me. i'm just a moderator. >> you are doing a great job. thank you for talking to us. i will give you the numbers according to the director of the polls. mitt romney is that 37%. ron p

it lends money to the imf. the world of modernity that inspired the architect of brazil may look a little out of date. brazil is very much a modern nation. >> among brazil's most precious natural resources is the amazon rain forest. important expanses of the earth's surface are being destroyed. in 2005, the government reported that 1/6 had been cleared by deforestation. >> in a sleepy town on the edge of the amazon, officers found the brazilian environment agency 3 lacks in the minutes before a jumble rate. relax ine in the -- the minutes before a? a jungle raid. >> he says there is nothing to worry about. >> for years, before its frontier was out of control. in 2004, an average of 20,000 square kilometers of flores was lost every year. -- forest. was lost every year. what has changed is the attitude of the. discovered -- brazilian government. 8 years ago, brazil realized it had a unique opportunity. it could go green, cut carbon emissions by just stopping the destruction of the forest. it would barely affect e