above germany's. but the rules were never enforced. by 2007, you had ten of the -- seven of the original 12 members officer over the debt limit. by 2010, it was ten of the members. what had happened was weak governments had used massive borrowing to offer their citizens a standard of living, their productivity could not deliver. and so now what you have when this crisis started in greece in 2009, greece just denounced our deficits, two times what we told you a few months ago. and the markets recognized there was a problem. what should have hand two years ago is greece should have defaulted on the debt and the other countries should have just tightened up their budgets. the fundamental problem in europe, really, is european policymakers don't understand the markets and don't like markets and think they can dominate markets and that's why you've seen a mess over the last two to three years. the inability of europe to address its crisis stems from a fundamental disagreement over the responsibilities of m

i spoke already too much on germany about germany. but the first question brings us to germany again. i am sorry. if europe has the model of a social market economy and if i say there would be a heavier government in brussels for europe, how will this resonate with the republicans in congress and the u.s.? an eminent journalist is inclined to sharpening views than in the following sophisticated ifs and buts. but the social market economy contains the market for many of our countries in europe before the full impact of european integration. what you're really brings is much more pro market orientation. most of all in the network industries and they have been achieved because of europe. so europe has been a powerful sector for liberalizing the e.u. economy. speaking about the social market economy is done in the appropriate context that is not underlying the socially sizing effect of european integration. on the contrary. equally for the government of europe by justices, some functions will have to go out to brussels that can be brought

first question comes from germany. it comes from anna. >> translator: you talked a lot about sustainable policy, coordination, coordination of the economic policies, but in the last ten years, the unbalance got worse between member states. don't you think that maybe we should tell the germans to work a little bit less, to export less and through the coordination to be a little bit more like the south europeans? >> translator: so pushing southwards. so do you think that we should go more towards the north or more towards the south? no. first, in the stability pact we talked about the unbalance between member states. the question is when we have the same currency, should we see each country individually? when we all have a single currency. the answer is no. in germany, we have never said ah, well, the bavarians have more money, in bremen they have less, so let's all do like the people in bremen to rebalance the whole thing. no. in germany, people who give the funds don't have to be more like the people who receive the fu

how does germany get a new president? >> it is interesting because the german constitution says that as soon as the office of president is vacated, in what has been put in place within 30 days. the clock is ticking. the race is on to name new candidates who can go before what they call the federal assembly, which is a group of more than 1200 delegates from the federal states who will gather in berlin sometime in the next four weeks and decide who will be president. >> were the likely candidates? >> right now, no names have been put out in the field officially, but there is already a great deal of speculation, as you might imagine. the first name on the list is the candidate who was put up a year-and-a-half ago. there he is in the tie. but at -- put up a year-and-a- half ago by social democrats and greens. he is a civil rights activist, a protestant pastor, not a member of any political party, but he enjoys great popularity in germany. the current president of the german bundestag, a member of chancellor merkel's conservat

germany has not. decided that it wants to reconstitute the dodge martin get out they're going to be blocking the black holes. with no money either. by the c b or gallon the loans from the german taxpayer greece is neither here nor there it is not significant or important enough to worry about the state of the of its marker accounting national accounting or indeed or that he will call me on it. so should greece have ever taken that first i.m.f. loan bailout package i made myself credibly an ocular in this country when in april and may two thousand and ten i was i would gauging taking the bailout loan was the equivalent of collective suicide and is would constitute one of those instances in world economic history that would be taught and of example to be avoided in economic developments for the next hundred years how about the. oil iran or oil embargo going to greece the same like really another for us mistake or what are your thoughts alice the greek prime minister of a year or two years ago mr george

you have, indeed, god germany. but, most of all, you have greek's own politicians. >> what is going on in brussels? what is the general mood among greeks? is there hope that these talks will actually improve people's lives? >> i think most greeks are expecting another shoe to fall, because the full details of these new austerity measures from of the last week have not been fully revealed to greeks. so i think they are preparing themselves for more austerity, even above what they're dealing with at the moment. >> ok, thank you so much for that update from athens. >> more consequences from the standoff in the persian gulf. the price of crude oil has surged to a new nine-month high after iran's move to shut off deliveries to france and britain. a barrel of benchmark north sea crude now cost $120. tehran is threatening to cut off oil to the entire european union and less economic sanctions are lifted. a europe -- european oil companies say they will be able to make up for any halt in iranian supplies. iran currently su

germany has not. decided that it wants to reconstitute the dodge martin get out they're going to be blocking the black holes. with no money either. by the sea or gallon loans from the german taxpayer greece is neither here nor there it is not significant or important enough to worry about the state of its of its micro accounting national accounting or indeed or that he will call me on it. so should greece have ever taken that first i.m.f. loan bailout package i made myself in credibly an ocular in this country when even april to may two thousand and ten i was i would gauging taking the bailout loan was the equivalent of collective suicide and these would constitute one of those instances in world economic history that would be taught and of example to be avoided in economics departments for the next hundred years how about the air race and. there's an oil iran oil embargo going into greece the same like really another for us for us take away your thoughts alice the greek prime minister of a year or tw

is ready to let the eurozone go germany has not. decided that it wants to reconstitute the dodge martin get out they're going to be blocking the black holes. with more money either meet it by the e.c. b. or gallon the loans from the german taxpayer greece is neither here nor there it is not significant or important enough to worry about the state of its of its micro counting national accounting or indeed of the real commie of the. so should greece have ever taken their first i.m.f. loan bailout package or less i've made myself in credibly in this country when in even april to me two thousand and ten i was i would gauging taking the bailout loan was the equivalent of collective suicide and is would constitute one of those instances in world economic history that would be taught and of example to be avoided in humans for the next hundred years how about the. oil iran or oil embargo going to greece the same like really another for us mistake or what are your thoughts alice the prime minister of a year or two years ago mr george papandr

-- and we have more in the gold rush here and in germany. that is coming up in a few moments. >> dozens of been killed and hundreds more wounded in a series of bombings and shootings in iraq. violence in iraq has increased sharply since u.s. troops pulled out of the country in december. >> all in the same day, u.s. president barack obama offered a personal apology to the afghan people. at least five individuals were reported killed in a fresh round of riots inspired by the burning of the karan near a u.s. air base. -- the burning of the koran near a u.s. airbase. >> the first talks after the death of kim jong-il in december. the two countries have been negotiating about pyongyang's nuclear program. >> a memorial service has been held at the cathedral in when a star is honoring the victims of yesterday's rail disaster. 1500 were killed and more than 650 injured. is believed to brake failure was the cause of the accident. >> prince daniel has announced that crown princess victoria has given birth to a girl. the new princess was 51 centimeters

it wants support from germany for arab league and it -- a initiatives, and once germany and europe to get on the same page in terms of sanctions on syria. germany is raising the prospect of further sanctions. chancellor merkel mentioned that today in her press conference with the general secretary. so we can expect germany to go along with the rest of europe and probably oppose further sanctions on syrian banks operating in eu and possibly on syrian commercial flights to and from the he you. the arab league is clearly looking for germany's support on at the diplomatic front. >> syria was not the only item on the agenda today between the two. there were also talking about one or two other things. >> we do not know exactly what was talked about in the meeting today. we have to keep in mind that the arab league is a rather mixed bag diplomatically, representing 22 different member states there. arab league representing the palestinians importantly and germany having close ties with both the israelis and palestinians to some degree. so we can at least hope that the two were talking today

germany's security interests now extend far beyond its borders. to keep in step, he is trying to turn germany into a professional force capable of rapid overseas deployment. >> the reorganization of the german army will make it more capable than it is now. whether we use that capability is a political question. >> last year, germany ended conscription for the armed services. the new professional force will be 1/3 smaller and have fewer bases. critics of the reforms in germany is in danger of losing its international standing. >> at the end of this reform process, the german army will have less money, less equipment, and less staff. we are very concerned that europe's most populous country will not have a military strong enough to exert any influence. >> but what sort of influence does germany what? the sweeping changes in the arab world have shifted berlin's priority towards a more common european diplomacy, but a joint security policy would be of more value, something germany's defense minister says is still in its early days. >> the structures e

germany is admired in many countries, but in many other places people resent germany. what can we do? you said earlier we have to learn from each other, but germany already did its homework. so don't you think that the rest of europe has to catch up? and that doesn't give you a very good image. >> translator: well, first, i have talked about a european public. the crisis started that now we tend to talk about them, the germans, the french, the spaniards, the greeks and so on. we have germans that are active. we have lazy. we have germans on the right and left. we have germans who like to visit museums like this one, others who don't. it's the same in every country. and the big achievement in europe was that we had stopped saying that whether somebody showed their passport, we knew exactly it was a french person. and i'm completely against that. the germans, the germans, they are federal minded and the french, oh, the french. everything is in the center. they're centralists. that is exactly what europe should take us away from. in greece, they are people who did not alw

germany is admired in many countries, but in many other places people resent germany. what can we do? you said earlier we have to learn from each other, but germany already did its homework. so don't you think that the rest of europe has to catch up? and that doesn't give you a very good image. >> translator: well, first i've talked about a european public. i have noticed the crisis started that now we tend to talk about them, the germans, the french, the spaniards, the greeks, and so on. well, we have germans who are very active, others that are very lazy. we have germans on the right, germans on the left. we have germans who like to visit museums, like this one, others who don't. it's the same in every country. and the big achievement in europe was that we had stopped saying that. when somebody showed their passport, ah, we knew exactly who he was. ah, it's a french person. and i'm completely against that. ah, the germans. the germans, they are federal-minded, and the french, ah, the french, everything is in the center, they have centralists. that is exactly what eur

-- to curb right wing violence in germany? >> the most important function of the committee is that it has a symbolic effect. it is supported across parliament by all parties from the left to the right. that is very unusual, as you know, for a parliamentary commission. in this particular case, the political establishment is saying, "we take the threat of nazi violence seriously, and we need to do something about it." >> john, thank you very much. >> kazakhstan's president is in berlin for talks with the german chancellor. angela merkel has called for a wider investigation into a police crackdown ordered by his government in december, but despite human rights concerns in the former soviet republic, they have agreed to tighter economic ties. >> the strategic deal worth 3 billion euros was signed in the chancellor's office. the agreement will allow german companies to search for raw materials in the mineral-rich central asian nation. merkel said the cooperation did not only benefit german industry. >> we will not just profit from

germany has not been france in nearly 25 years. >> staying with sports, a final bout for germany's most popular female sporting stars. she is gearing up to compete in her last ever by avalon world championships. >> she retires in three weeks' time, but she's not planning and coasting her way to the end of her career. we see her in training. >> moggy elena, germany's best medal chance that the by at the law and world championships. for the past 10 days, she and her teammates have been making their final preparations in austria. intensive training and she hopes will pay off in the big event. >> i am excited about this. it will be a great atmosphere and the stadium, and there will be so many people. >> she will be starting in four individual races and two relays. she hopes to win a medal in each event. her confidence is high after a world cup season that delivered eight victories. >> i have been working hard. i have a good mental coach and a good sporting courage to give me optimal support. it is a great combination right now. >> it could be the final entry in a long list of achievements.

and iran which way will germany swing well carthage is the answer again curfew. must be destroyed now many romans went and fought all these punic wars they fought as valiant soldiers dedicating their patriotic fervor to rome their lands were stolen they paid the price so that carthage was destroyed they themselves were the victims this is part of carthage this is part of iran being destroyed must be wiped off the face of the earth forever standing up to the empire that they could control the straits of hormuz based on a paper currency that is being diluted and the best into oblivion sure but it's a great deal in the world to get that we all know it's a currency that is worth nothing imagine if you came up with this fabric of paper here and i had to give you all my labor for that for just because you said it also still this is focused on this piece of paper and is a movie going to trade at a premium to every other currency out there on the globe well this sort of mentality of course trickles down even critics of safety net increasingly depend on it so this is an a

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more indeed leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyper inflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because there is no. the tolerance for that in germany they don't like inflation the member why more republic they're anti inflation so they will continue to run the entire game with they own all the pieces on the board in the europe zone and when the dollar crashes then germany's going to own the dollar as well germany is the true superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold rel

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more indeed leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyper inflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because there is no. the tolerance for that in germany they don't like inflation the member why more republic there are anti inflation so they will continue to run the entire game with the they hold all the pieces home of board in the europe zone and when the dollar crashes then germany's going to own the dollar as well germany is the crew superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of

brings in several hundred thousand more jews into germany. and hitler's anti-semitic policies are beginning to spill over into other countries where there are many more jews than germany, like poland, which had over 3 million jews. after his re-election, for the first time, you get a new roosevelt on the jewish issue. he does begin to do things. doesn't get up there and make big speeches about hitler, but he does finally loosen the restrictions for immigration after his re-election. so that the quota of 26,000 plus a couple thousand for austria does get filled during his second term. and his biggest initiative relates to his belief that you've got to extract the jews from germany, and perhaps extract the jews from other parts of europe as well. that he comes around to the belief during his second term, freed of re-election pressures, that the only solution to the problem of the persecution of jews in germany, and as it's spreading more broadly in europe, is to get them out. there's nothing you can do to stop hitler and like-minded dictators f

above germany's. but the rules were never enforced. by 2007, you had ten of the -- seven of the original 12 members over the debt limit by 2010, it was ten of the members. what had happened was weak governments had used massive borrowing to offer their citizens a standard of living, their productivity could not deliver. and so now what you have when this crisis started in greece in 2009, greece just denounced our deficits two times is what we had told you a few months ago and the market recognize there was a problem. what should have hand two years ago is greece should have defaulted on the debt and the other countries should have just tightened up their budgets. the fundamental problem in europe, really, is european policymakers don't understand the markets and don't like markets and think they can dominate markets and that's why you've seen a mess over the last two to three years. the inability of europe to address its crisis stems from a fundamental disagreement over the responsibilities of members

and his script from which he has to decide his lines was written by germany germany has effectively subcontract of the half and mr johnson in particular the task of imposing onto greece these days the measures the brilliant example but the i.m.f. doesn't believe it is the state's measures so this is christine lagarde is making some quite notable and interesting speeches that are going against the kind of medicine the police is applying to the patient and his mrs domes and between those two. places the hers mindsets one is out of it of his bosses in washington and the other is with the german leaders which is contracted mrs domes to effect policies of this of dom's nose are quite poisonous not only for greece but more generally floor of the global economy ok now this is that are saying they other bureaucrats in brussels have just found another fifteen billion euro black hole greece. this seems to be a recurring theme how many more black holes do you expect to be found in great financial universe before it's all over it really depends on whether germany is ready to let the eurozone go germany has

germany and france in the names of francois mitterrand. and also john chancellor kohl knew the project was incomplete and they expected that those who would follow them will complete the project but what do instead is the development of tremendous imbalances between the into the eurozone countries you does not possible to expect the german you will always have a surplus unless of the counter is such as greece and portugal have deficits ok and therefore this is how we've created the let me growth pattern let me jump. in here i mean people i mean we just heard that other countries would follow the it would follow the political union thing but people didn't vote for that i find that inherently undemocratic and that giving people a choice ok i mean what what happens on the net when the next congress comes in in greece are they going to vote against the the this austerity package they are bred of course they are and not only in greece we already hear echoes of this and france this is where francois hollande the leading member of the opposition

above germany's. but the rules were never enforced. by 2007, you had ten of the -- seven of the original 12 members over the debt limit. by 2010, it was ten of the members. what had happened was weak governments had used massive borrowing to offer their citizens a standard of living, their productivity could not deliver. and so now what you have when this crisis started in greece in 2009, greece just denounced our deficits, two times what we told you a few months ago. and the markets recognized there was a problem. what should have happened two years ago is greece should have defaulted on the debt and the other countries should have just tightened up their budgets. the fundamental problem in europe, really, is european policymakers don't understand the markets and don't like markets and think they can dominate markets and that's why you've seen a mess over the last two to three years. the inability of europe to address its crisis stems from a fundamental disagreement over the responsibilities of membe

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more indeed leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyperinflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because there is no tolerance for that in germany they don't like inflation the member wymore republic they're anti inflation so they will continue to run the entire game. they hold all the pieces on the board in the europe zone and when the dollar crashes then germany's going to own the dollar as well germany is the true superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold relative to th

germany has not. decided that it wants to reconstitute the doj mark and get out they're going to be blocking the black holes. with no money either. by the c b or gallon the loans from the german taxpayer greece is neither here nor there it is not significant or important enough to worry about the state of its of its marker accounting national accounting or indeed or that he will call me on it. so should greece have ever taken their first i.m.f. loan bailout package i have made myself in credibly in this country when in april to may two thousand and ten i was i would gauging taking the bailout loan was the equivalent of collective suicide and his would constitute one of those instances in world economic history that would be taught and of example to be avoided in economic developments for the next hundred years how about the air race so this. is an oil i rarely oil embargo going to greece the same like really another for us for us take away your thoughts alice the greek prime minister of a year or two

germany and france in the names of francois mitterrand. and also john chancellor kohl knew the project was incomplete and they expected that those who would follow them will complete the project but what do instead we saw is the development of tremendous imbalances between the into the eurozone countries you does not possible to expect the german you will always have a surplus unless of the counters such as greece and portugal have deficits ok and therefore this is how we created the let me growth padron let me jump. in here i mean people i mean we just heard that other countries would follow the it would follow the political union thing but people didn't vote for that i find that inherently undemocratic and that giving people a choice ok i mean what happens when they go in the next going comes in greece are they going to vote against the the this austerity package right if they are go ahead of course they are and not only in greece we already hear echoes of this in france this is where francois hollande the leading member of the oppositio

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more indeed leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyperinflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because there is no tolerance for that in germany they don't like inflation the member why more republic there are anti inflation so they will continue to run the entire game with they own all the pieces upon the board in the europe zone and when the dollar crashes then germany's going to own them. dollars well germany is the true superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold relat

max keiser this is the ca's a report let's look again at what's happening in germany and athens. max kaiser germany's carthaginian terms for greece now ambrose evans pritchard of the telegraph says the last time germany needed a bailout from world creditors it secured better terms than shattered greece last week so nine hundred fifty three we call there was a london debt agreement whereby creditors for all of germany's debt agreed to take a fifty percent haircut on german debt quote statesmanship prevailed the finance ministers of the day agreed to overlook the moral origins of that debt and the moral hazard of rewarding a country that had so disturbed the european order yeah well this is interesting isn't it of a double standard here the germans got a huge break on the debt back in one nine hundred fifty three other countries rallied to give them a break because they felt that it was in everyone's best interests now here we are twenty twelve and germany's in a position to return the favor but they saw well exactly as ambrose evans pritchard uses the term carthaginian carthage pi

and iran which way will germany swaying well carthage is the answer again curfew. must be destroyed now many romans went and fought all these punic wars they fought as valiant soldiers dedicating their patriotic fervor to rome their lands were stolen they paid the price so that carthage was destroyed they themselves were the victims this is part of carthage this is part of iran being destroyed must be wiped off the face of the earth forever standing up to the empire that they could control the straits of hormuz based on a paper currency that is being diluted and the based into oblivion sure but it's a great deal in the world to get that we all know it's a currency that's worth nothing imagine if you came up with this fabric of paper here and i had to give you all my labor for that for just because you said it also still this is focused on this piece of paper and as a movie going to trade out of premium to every other currency out there on the globe well this sort of mentality of course trickles down even critics of safety net increasingly depend on it so this is an

and when the dollar crashes then germany's going to own the dollar as well but germany is the true superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold relative to their income so they'll be happy in spain in greece in the u.k. in ireland the citizen formally known as the citizen now known as the consumer they have a lot of debt. what chinese people are unruly that's not going to serve them well in the currency wars their government is going to have their hands full but remember going forward that real burden of debt in a deflationary environment the burden goes up so all of these debtor nations isn't going to get worse now you and i have been to athens and we've seen that those people you know you can talk all you want about germany and how herad they are but they've got to contend with those greeks and we saw those greeks and. i have to say

germany has not. decided that it wants to reconstitute the dodge martin get out they're going to be blocking the black holes. with no money either. by the e.c. b. or gallon the loans from the german taxpayer greece is neither here nor there it is not significantly important enough to worry about the speed of it of its marker accounting national accounting or indeed or that he will call me on it. so should greece have ever taken their first i.m.f. loan bailout package alice i've made myself in credibly an ocular in this country when in even april to may two thousand and ten i was out of a gauging taking the bailout loan was the equivalent of collective suicide and his would constitute one of those instances in world economic history that would be thought of example to be avoided in economic developments for the next hundred years how about the air race and. there's an oil i rarely oil embargo going to greece the same as like really another for us mistake but what are your thoughts alice the prime minis

first question comes from germany. it comes from anna. >> translator: you talked a lot about sustainable policy, coordination, coordination of the economic policies, but in the last ten years, the unbalance got worse between member states. don't you think that maybe we should tell the germans to work a little bit less, to export less and through the coordination to be a little bit more like the south europeans? >> translator: so pushing southwards. so do you think that we should go more towards the north or more towards the south? no. first, in the stability pact we talked about the unbalance between member states. the question is when we have the same currency, should we see each country individually? when we all have a single currency. the answer is no. in germany, we have never said ah, well, the bavarians have more money, in bremen they have less, so let's all do like the people in bremen to rebalance the whole thing. no.

the way germany is treating the greeks is intolerable. we're slaves. young students ask which flag should be torn down now. i say it is the flag of slavery. we supplied the flag of sovereignty and freedom. >> greece has been a proud member of the european union for over 30 years. things like this are emerging in newspapers a sign of how the economic crisis is beginning to change the nation in a profound and worrying way. there is another side to the story, the thousands of greeks relocating to germany to escape the financial woes. he finishes his packing before moving to hamburg. greeks immigrating to germany soared by 80% last year. >> i like them. they're nice people, very friendly very kind. we do not have to blame germany for what is happening in greece. we have to plan our politicians and ourselves. everybody knew what was happening increase for the last 40 years. it is not germany's fault. >> a country dependent on tourism, greece is well known for the hospitality of its people. in hard times, those who suffer often turn anchor on t

because they're totally corrupt and this leaves only germany if at the end of the day. finally this hour after decades of drilling russian scientists and antartica have uncovered a rare natural wonder an ancient lake buried fountains of feet under ice artie's sean thomas toward the frozen continent exactly a year ago and explains what this discovery could signify. vostok research base in antarctica it is the coldest place on earth and the deepest drilling location on the continent the main research was to drill the great your eyes as deep as possible to get these tiny bubbles off they are before brazil for about. four hundred thousand years at a certain point researchers made a new discovery lake vostok a team of russian scientists have drilled more than two miles into the ice and have reached the surface of the subway szell lake itself excited about the possibility of discovering life while the drilling project at legg is exciting for scientists and promising in terms of finding a new life form here on earth there are some who are thought of the project should continue

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more indeed leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyper inflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because there is no. the tolerance for that in germany they don't like inflation the member wymore republic their anti inflation so they will continue to run the entire game with they own all the pieces home of board in the europe zone and when the dollar crashes then germany's going to own the dollar as well germany is the true superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold relati

and iran which way will germany swing well carthage is the answer again curfew. this must be destroyed now many romans went and fought all these punic wars they fought as valiant soldiers dedicating their patriotic fervor to rome their lands were stolen they paid the price so that carthage was destroyed they themselves were the victims this is part of carthage this is part of iran being destroyed must be wiped off the face of the earth forever standing up to the empire that they could control the straits of hormuz based on a paper currency that is being diluted based into oblivion sure but it's a great deal in the world to get that we all know it's a currency that is worth nothing imagine if you came up with this fabric of paper here and i had to give you all my labor for that for just because you said it also stole this is focused on this piece of paper and it's a movie going to trade out a premium to every other currency out there on the globe well this sort of a mentality of course trickles down even critics of safety net increasingly depend on it so this is a

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more indeed leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyper inflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because. there is no tolerance for that in germany they don't like inflation the member wymore republic their anti inflation so they will continue to run the entire game with they own all the pieces on the board in the europe zone and when the dollar crashes then germany's going to own the dollar as well germany is the true superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold relative to

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more indeed leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyper inflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because there is no. the tolerance for that in germany they don't like inflation the member wymore republic there are anti inflation so they will continue to run the entire game with they own all the pieces on the board in the europe zone and when the dollar crashes then germany's going to own the dollar as well germany is the true superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold rel

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more indeed leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyper inflation massive deflation which is used to keep interest rates at zero percent william place and come along though because there is no tolerance for that in germany they don't like inflation the member why more republic their anti inflation so they will continue to run the entire game with the they own all the pieces on the board in the europe zone and when the dollar crashes then germany's going to own that dollar as well germany is the crew superpower here not china china is apple's keep manufacturing hub it's not a power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many. chinese have a lot of

what about germany? >> germany has not. i am sure there is a coordinated policy within the european union. foreign ministers of european union countries have definitely been discussing it. it is not uncommon in a crisis situation when eu foreign ministers are recalled by their countries, either because the situation is too dangerous or as a diplomatic protest, but one senior diplomat is left in order to cover the interest of the european union in that fluid situation. >> thanks for the analysis. >> all right, some business news now. shares in german carmaker diamond shot up today. it is announced been -- german carmaker daimler. >> record sales were announced it. >> some of the best results in the company's history. last year, it sold over 2 million vehicles, 11 percent more than in 2010. profits hit record levels. >> we definitely see mercedes growing more than this 4%, and with very heavy investments into the future for our portfolio expansion co2 reductions, we intend to maintain the record level profitability we accompl

germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyperinflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because there is no. the tolerance for that in germany they don't like inflation the member wymore republic their anti inflation so they will continue to run the entire game with they hold all the pieces on the board in the europe zone and when the dollar crashes then germany's going to own the dollar as well germany is the crew superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold relative to th