the european central bank lowered interest rates to an all-time low. china cut several key interest rates for the second time in a month. and the bank of england held its rates steady, but said it will pump billions of dollars into its economy through a new round of bond buying. here in the u.s., some hopeful signs for the weak job market. private employers added 176,000 new workers to their payrolls in june, stronger than the previous month. and the labor department said the number of people filing for

the head of the european central bank says he'll do whatever it takes to boost the euro-zone. that lifts stocks around the globe. >> tom: that and more tonight on nbr! >> susie: facebook lost face with investors today-- its first earnings report as a public company failed to impress. after the market close, the social network posted profits of 12 cents per share, excluding a charge for employee option grants. the results were right in line with analyst estimates. revenues were a bit better than expected at $1.18 billion. but disappointed investors dumped the shares in after-hours trading. facebook fell as much as 9% to $24. erika miller reports. >> mobile is a huge opportunity for facebook. our goal is to connect everyone in the world. and over the next five years, we expect four billion or five billion people to have smart phones. >> reporter: finally, investors got a chance to hear facebook c.e.o. mark zuckerberg discuss his company's business strategy. he told investors that the social network now has 955 million users, a near-30% increase in just one year. facebook's bigge

. >>> the european central bank is expected to cut the region's interest rates to a record low. the move is seen as essential in easing the euro zone's debt crisis. >> moody's downgraded barclay's credit rating to negative.

fund, the european commission, and the european central bank. >> the greek prime minister told parliament that some foreign officials are predicting that greece will fail, thereby undermining the country's efforts. he says he is confident his country can trim 12 billion euros from its budget and stay in the eurozone. >> we will prove that greece can pleasantly surprised both friends and opponents and even itself -- pleasantly surprise both friends and opponents and even itself. >> on tuesday, civil servants and pensioners were again out on the streets protesting. inspectors from the eu, imf, and european central bank are currently in greece to discuss those measures with the central government and will recommend whether athens should receive further assistance or not. >> another negative headline for europe's economic engine. >> debt troubles have caused a sharp drop in factory output. >> the economy has contracted at its fastest pace in more than three years with the service sector shrinking as well as manufacturing. >> the slowdown in german industrial activity came as a surprise to man

from wednesday, officials from the eu, international monetary fund, and european central bank will be checking how far greece has enacted reforms in the past three months. ahead of the talks, the ecb said greece had no alternative but to stick to its austerity program, no matter how painful. >> so my point is this, the new government should not lose time looking to avoid or losing the program. it should instead focus on how to maximize the effectiveness of reforms. >> these so-called troika will decide whether to release the next installment of aid money based on the country's performance. greece desperately needs the infusion to avert bankruptcy. >> one big reform to come out of europe's debt crisis is under question. here in germany, the fiscal pact that was championed by german chancellor angela merkel. >> germany's constitutional court is looking into whether it is legal to put the pact into law in germany. it can be ratified if the court upholds a number of constitutional complaints against it. >> the constitutional judges will have to decide whether parliament has surrendered to

they're looking towards the european central bank, its meeting this coming thursday in frankfurt. the hope is that they will be ready to announce some kind of bond purchase program that would ease the tension in the financial markets and the bond market, especially help spain and the investors here as well. there are a lot of people on the floor of those who were also uneasy about this type of thinking, saying this is just kicking the can down the street instead of making hard decisions that are necessary. but europe-wide, bancshares profited. in germany, the deutsche bank and commerzbank among the day's best. >> we stick in frankfurt were the blue-chip dax was higher on the day, 1.25% higher. it was a similar story for the euro stoxx 50. in new york, trading is still under way for the dow jones industrial average, currently little change. for the euro against the dollar, declining, $1.2260. british bank hsbc says it is expecting a $2 billion hit from scandals over money laundering and miss selling of investment products, but that is not putting that much of the debt in the firm's

investors are waiting on key meetings at the federal reserve and european central bank. >> tom: i'm tom hudson. this week we're looking at regional banks. why smaller bank stocks are out- perfoming their bigger competitors. >> susie: and what's it going to take to make a new generation of innovators? we visit a camp teaching teenage girls about engineering. >> tom: that and more tonight on "n.b.r.!" >> tom: there are high expectations this week economic leaders in the u.s. and europe will take action to help their struggling economies. beginning tomorrow, federal reserve policymakers hold a two- day meeting in washington. central bankers in europe meet on thursday. and the important u.s. july jobs report is released on friday. the hope is policymakers will announce new ways to get the world economy growing. darren gersh reports. >> reporter: on wednesday, the federal reserve may give investors a new date to mark on their calendars-- 2015. chairman ben bernanke and his colleagues had promised to keep rates exceptionally low through late 2014. >> i think it would be natural, ven that the

investors are waiting on key meetings at the federal reserve and european central bank. >> tom: i'm tom hudson. this week we're looking at regional banks. why smaller bank stocks are out- perfoming their bigger competitors. >> susie: and what's it going to take to make a new generation of innovators? we visit a camp teaching teenage girls about engineering. >> tom: that and more tonight on "n.b.r.!" >> tom: there are high expectations this week economic leaders in the u.s. and europe will take action to help their struggling economies. beginning tomorrow, federal reserve policymakers hold a two- day meeting in washington. central bankers in europe meet on thursday. and the important u.s. july jobs report is released on friday. the hope is policymakers will announce new ways to get the world economy growing. darren gersh reports. >> reporter: on wednesday, the federal reserve may give investors a new date to mark on their calendars-- 2015. chairman ben bernanke and his colleagues had promised to keep rates exceptionally low through late 2014. >> i think it would be natural, given that th

by the way, european central bank meets on thursday. incredibly bullish for a whole in market, not to mention a stable euro, see more rallies like today. friday, big number, nonfarm payrolls comes out f this number is weak, we are going to hear a lot of calls for action by the fed. i don't think the fed can do much at this point. plus, already spoken on wednesday, for heaven's sake. i do not expect a great number. do you know all these weak numbers have caused selloffs? let's do this rallying into friday because of the european central bank meeting goes well, federal reserve meeting goes well, sell some stock thursday morning. others might anticipate this move, you won't get whacked if job creation continues to be stymied. bottom line, it was just fabulous couple of days. remember, just three really down 100 days. don't get too euphoric. still very much hostage to europe. if the european central bank falters next thursday or lousy employment point next friday, all the points in the world won't stop from giving up the gains we had the la

to stop buying government bonds again what else could all should the european central bank do. christine legarde is french they've always wanted a more activist central bank the germans have always been much more reluctant and know what i'd be looking for if i was looking for these to act and how to you're a mortgage market a mortgage you want your debt to be inflated away so you'd like the e.c.b. to be buying as many brands as possible doing everything to try and get inflation up. trouble is that while my will which also reflects spain's position and they would point out the germans the germans don't have so much debts they've got a lot more savings they don't want to inflation and this is telling the e.c.b. to be much more cautious than what the i.m.f. suggesting so let's broaden itself lonely war could the euro be done to help it i mean what is outside the european central bank's hand but what else could be done by powers in brussels for example to save what is what is really worrying situation . you've you've got two or three options the german solution is that everybody is

. >> central banks continue to flood the market with cheap money -- not only the european central bank lowering the interest rate, but also the chinese central bank and the bank of england pumping funds and directly into the market. how bad is the economy worldwide? the debt crisis is by all means the worst for the eurozone, but the ecb is running out of means slowly. vw shareholders had reason to celebrate. the takeover will increase profits considerably. >> let's take a closer look at the closing members. the dax trading lower on thursday -- 0.5% lower there. euro stocks 50 also down on the day. in new york, trading still under way for the dow jones industrial average, also retreating from the biggest three-day rally of the year as investors wait to see the results of a key jobs report coming out on friday. the euro declining against the dollar, trading for $1.2386. >> stick around. we will be back in a minute's time with an update from japan and the stricken fukushima power plant. >> i feel like animated films, we have a piece on a new exhibit that shows how you can get inside how t

by the way, european central bank meets on thursday. incredibly bullish for a whole market, not to mention a stable euro, see more rallies like today. friday, big number, july nonfarm payrolls comes out f this number is weak, we are going to hear a lot of calls for action by the fed. i don't think the fed can do much at this point. plus, already spoken on wednesday, for heaven's sake. i do not expect a great number. do you know all these weak numbers have caused selloffs? let's do this. rallying into friday because of the european central bank meeting goes well, federal reserve meeting goes well, sell some stock thursday morning. others might anticipate this move, you won't get whacked if job creation continues to be stymied. bottom line, it was just fabulous couple of days. remember, just three really down 100 days. don't get too euphoric. still very much hostage to europe. if the european central bank falters next thursday or lousy employment report next friday, all the positive reports in the world won't stop from giving up the gains

the european lender and european central bank, and the international monetary fund. he is trying to persuade them to cut greece some slack. samaras met with the delegation in athens. few details have emerged. the participants are believed to have discuss aid greek request to ease austerity measures. in exchange for a bailout from the eu and imf. samaras and his cabinet want to push back the deadline for the cuts by two years. the finance minister said the parliamentary elections in may and june delayed the implementation of fiscal reforms. there is still a lot of work to do. some insist the government must do more to carry out the reforms. the european central bank will further cut its benchmark interest rate to ease concerns about the debt crisis and boost its sagging economy. policymakers at the bank's board meeting in frankfurt agreed to cut the key interest rate from 1% to a record low of 0.75%. >>> in particular tensions in some euro sovereign debt markets and their impact on credit conditions and high unemployment are expected to weigh on the underlying growth

. >> pressure is rising on the european central bank to address the crisis. a sign of how widespread the concern is, today the u.s. treasury secretary timothy geithner made an unexpected visit to his german counterpart while she was on holiday and issued this statement expressing confidence in the efforts to support the euro. here is our correspondent. >> a quiet hotel on the north sea island might seem like an unlikely venue for the meeting of two policymakers, but these are unusual times. u.s. treasury secretary timothy geithner, concerned about the euro zone crisis, sought a meeting with the german minister on his holiday. in a statement, they said there was a need for global cooperation to resolve debt problems. momentum is building, possibly to be unveiled at the european central bank on thursday. its chief promised last week to do whatever it takes to preserve the euro. investors took that to mean that ecb would help countries like spain by buying up their iou'e and government bonds. they purchased bonds for 2010, but that seems to be reluctant to do it

their response followed the dramatic pledge yesterday by mario draghi, the european central bank chief. "we will do whatever it takes to preserve the bureau," he said, "and believe me, it will be enough." >> traders drew one key conclusion -- the european central bank was ready to start intervening on a large scale by buying of spanish and other government bonds, having previously been very reluctant to do so. >> markets are reacting positively. they do think this could be a turning point in this crisis. if the ecb puts up more funds to support the markets, this could be the end of the market panic. >> but that still leaves the greek problem. international investors are pressuring governments to stick to their austerity plans. there is growing speculation the greek government cannot or will not deliver, which leaves a greek exit still very much on the cards. >> it might be bad news on the economy, but it is very good news here in london with the olympics ceremony well under way in the stadium right behind me. among them, those who are most excited tonight at the ceremonies are some of

the european central bank meets next week to discuss monetary policy, but instead of providing any new economic intervention, what today's comments may have done is give political leaders of european union member states more time to take the tough action needed on government spending. >> at every juncture in this crisis, the ecb has extracted some form of concession from a member state. at no point has intervention been unconditional. that's not the position of the bank. politics of the governing council don't allow its interventions to be unconditional, and i think that's the same point we're at today. >> intervention on the part of banks next week. what happens if there isn't any, and the ecb wants to buy time? >> i think that's exactly whoo we saw today is the ecb buying more time, d the 10th or 20th time that somebody at the ecb or one of the politicians in europe tried to give more breathing spice to the euro and add to the structural impediments theor trying to overcome, that's what theor trying to do, and the fed has a different set of objectives, s and thel ookt accordingly. an

there is growing speculation the european central bank could begin buying up the bonds of highly indebted eu economies. the french prime minister supports such a move. >> i am sure that would help calm the markets and lead to lower interest rates for spain and italy. >> but german lawmakers are not thrilled about that kind of rescue initiative. merkel's conservatives and the opposition fear the consequences. >> we stress the importance of the ecb not buying up other nations' debts on a large scale. we have no control over the ecb. it acts independently. i say it is unaccountable, and they have no requirements for the individual countries. >> the ecb board meets next thursday, and it is hoped the poutcome will bring more clarity to the overall effort to rescue the euro. >> let's check out what the markets were thinking this friday. the dax the dishing up the week -- finishing up the week on a positive note, getting close to the 7000-mark. the europe stoxx, 5321, the closing number. the dow jones also trading in positive territory. the euro not back up where it was, but a three-week high. $

the european central bank meets next week to discuss monetary policy, but instead of providing any new economic intervention, what today's comments may have done is give political leaders of european union member states more time to take the tough action needed on government spending. >> at every juncture in this crisis, the ecb has extracted some form of concession from a member state. at no point has intervention been unconditional. that's not the position of the bank. politics of the governing council don't allow its interventions to be unconditional, and i think that's the same point we're at today. >> intervention on the part of banks next week. what happens if there isn't any, and the ecb wants to buy time? >> i think that's exactly whoo we saw today is the ecb buying more time, and the 10th or 20th time that somebody at the ecb or one of the politicians in europe tried to give more breathing spice to the euro and add to the structural impediments theor trying to overcome, that's what theor trying to do, and the fed has a different set of objectives, s and thel ookt accordingly.

the european central bank meets next week to discuss monetary policy, but instead of providing any new economic intervention, what today's comments may have done is give political leaders of european union member states more time to take the tough action needed government spenng. >> at every juncture in this crisis, the ecb has extracted some form of concession from a member state. at no point has intervention been unconditional. that's not the position of the bank. politics of the governing council don't allow its interventions to be unconditional, and i think that's the same point we're at today. >> intervention on the part of banks next week. what happens if there isn't any, and the ecb wants to buy time? >> i think that's exactly whoo we saw today is the ecb buying more time, and the 10th or 20th time that somebody at the ecb or one of the politicians in europe tried to give more breathing spice to the euro and add to the structural impediments theor trying to overcome, that's what theor trying to do, and the fed has a different set of objectives, s and thel ookt accordingly. and t

the european central bank lowered interest rates to an all-time low. china cut several key interest rates for the second time in a month. and the bank of england held its rates steady, but said it will pump billions of dollars into its economy through a new round of bond buying. here in the u.s., some hopeful signs for the weak job market. private employers added 176,000 new workers to their payrolls in june, stronger than the previous month. and the labor department said the number of people filing for unemployment benefits dropped by 14,000 in the past week. both reports bode well for tomorrow's monthly employment report. and many economists raised their estimates on the number of people getting new jobs in june. despite these positive developments, stock markets were mixed. european markets closed lower, and here on wall street, investors held off from making any big commitments. the dow fell 47 points, the nasdaq barely budged, and the s&p lost six points. "nightly business report" is brought to you by: captioning sponsored by wpbt >> tom: more now

their response followed the dramatic pledge yesterday by mario draghi, the european central bank chief. "we will do whatever it takes to preserve the bureau," he said, "and believe me, it will be enough." >> traders drew one key conclusion -- the european central bank was ready to start intervening on a large scale by buying of spanish and other government bonds, having previously been very reluctant to do so. >> markets are reacting positively. they do think this could be a turning point in this crisis. if the ecb puts up more funds to support the markets, this could be the end of the market panic. >> but that still leaves the greek problem. international investors are pressuring governments to stick to their austerity plans. there is growing specution the greek government cannot or will not deliver, which leaves a greek exit still very much on the cards. >> it might be bad news on the economy, but it is very good news here in london with the olympics ceremony well under way in the stadium right behind me. among them, those who are most excited tonight at the ceremonies are some of th

central bank as we mentioned. ms proed last week, he would do whatever it takes to protect the euro. is he going to be able to deliver on that promise? >> i tell you, at this point, susie, it's hard to see how he could deliver on what are elevated market expectations for fairly dramatic action from the ecb. and i also note that the federal reserve faces challenges meeting expectations after the run ups we've had in stocks. >> susie: going back to europe and the central bank, start there. what can the ecb do or say that will be meaningful to solving the financial problems of the euro sown? >> they've got to focus on the sovereign debt of privy country, , spain, portugal and italy. interest rates have skyrocketed to over 6 and 7%. levels that are unsustainable to remain in the euro. the ecb has to focus on getting interest rates down by buying debt on the open market to soak up some of the supply the market is bringing out there to bring the interest rates lower. >> susie: and what about in the u.s. with the federal

there is growing speculation the european central bank could begin buying up the bonds of highly indebted eu economies. the french prime minister supports such a move. >> i am sure that would help calm the markets and lead to lower interest rates for spain and italy. >> but german lawmakers are not thrilled about that kind of rescue initiative. merkel's conservatives and the opposition fear the consequences. >> we stress the importance of the ecb not buying up other nations' debts on a large scale. we have no control over the ecb. it acts independently. i say it is unaccountable and they have no requirements for the individual countries. >> the ecb board meets next thursday, and it is hoped the poutcome will bring more clarity to the overall effort to rescue the euro. >> let's check out what the markets were thinking this friday. the dax the dishing up the week -- finishing up the week on a positive note, getting close to the 7000-mark. the europe stoxx 5321, the closing number. the dow jones also trading in positive territory. the euro not back up where it was, but a three-week high. $1.

plus, chinese, british and european central banks and european central banks eased, the dow shrugged. will tomorrow's jobs numbers make the fed ease, too? >>> and why is mitt romney flip-flopping on the obama care tax? jack welsh and rupert murdoch are telling mitt romney, fire your staff. "the kudlow report" moments away. >>> you just got a dose of discipline that i think is going to save and make you a lot of money. don't ignore it. remember discipline. that's your only friend in a tough time. i'm jim cramer. i'll see you tomorrow. >>> why are rupert murdoch and jack walsh calling for mitt romney to fire his top campaign staff? good evening, everybody. i'm larry kudlow, back and rearing to go. this is "the kudlow report." our top story tonight, fire the staff. rupert murdoch, jack welch, the biggest names in business are saying that romney is not tough enough and he lacks the stomach to take on president obama. and by the way, why in the world did mitt romney flip-flop on the obama care tax hike? why did he do it? >>> also this evening, why have ceos lost confidence in the american

the european central bank will cut its benchmark interest rate to help the europe debt crisis and boost its sagging economy. the reduction is the first in seven months. the record low 0.75%. >> in particular tensions in some euro area sovereign debt markets and their impact on credit conditions and high unemployment are expected to wait on the underlying growth momentum. >> he pointed out at a repea press conference that serious concerns remain about the future of the euro zone economy. meanwhile, china's central bank also cut its key interest rate for a second straight month. this indicates that the government is stepping up measures in its monetary easing actions. the people's bank of china said the bench mash lending rate will be lowered by 0.31 percentage points to 6%. the deposit rate will be cut by a quarter of a percentage point to 3%. the new rates will become effective friday. china's economic outlook is becoming uncertain because of sluggish exports to european countries as a result of the region's debt crisis. europe is china's biggest trading partner. china's consumption als

banks because the european central bank well first of all they're taking a firm stand when it comes to greece listen to this. the european central bank has told greece not to waste time trying to renegotiate its international bailout to water down we'll stay with the measures demanded that investors reform why is that could this be because the e.c.b. is too overworked its personnel at least to deal with proposals for renegotiating because according to a new e.c.b. staff will eighty point one percent of employees complain of a heavy workload seventy seven percent said they were working longer hours with no extra pay nearly sixteen percent of the seven hundred staff polled said their workload was having a serious effect on their private life and or health i mean i guess it's just hard work going to put an extra hours manipulating interest rates and and these guys a little tinkers in the economy and you guys are wimps these guys are wimps had i had an opportunity to turn. in brussels at the e.c.b. it and take it i didn't take it but i was i was i was offered while i'm at work and they

the european central banks stopped paying money on unused deposits. why doesn't the fed? >> the problem with the banks is you have a regulatory onslaught. the fed of course taking volatility out of the market, lower the long end hurts net interest margins. a lot of things are just beyond the rate of excess interest paid on reserves holding us back. it's really much more regulatory than anything on the monetary policy front which i wish the fed appreciated more. >> it's not as much of ap issue. talking to my european banking friends they are envious because they think it is a good deal on regulation which is scary. >> bank loans are growing. >> most are student loans. >> i hear that we are not going into recession by the skinny skin skin of our teeth. david goldman, joe lavornia and diane swonk, thank you. coming up, is the stock market rigged against the little guy? the shocking lead story in the new york times reveals top hedge fund managers may get inside information from big brokerage firms. we'll talk to gret then morgenson and later president obama managed to insult

european central bank in the next six months. off err negative interest rates, not very popular. cut the refi rate, 43%, getting up there. additional ltos and purchased additional sovereign debt. 89% expects the central bank to purchase more sovereign debt in the next six months. what's happening? more and more default in march. the probability placed by respondents on these country js, ireland, italy, spain, portugal and greece. it has gone down for ireland, had a successful bond issue and remained good. down for portugal, shown progress and 80% just about now believe there could be a second greek default. we specified that in the question. how about the outlook for the european monetary union, would they stay together? now just 11% think they will stay together. take a look how much it's gone up here. 82% of our respondents believe in the next five years, one or more countries will leave the european monetary union. biggest threats to the u.s. economy. it's not inflation, not high gas prices, they went away with the last survey

the european central bank lowered interest rates to an all-time low. china cut several key interest rates for the second time in a month. and the bank of england held its rates steady, but said it will pump billions of dollars into its economy through a new round of bond buying. here in the u.s., some hopeful signs for the weak job market. private employers added 176,000 new workers to their payrolls in june, stronger than the previous month. and the labor department said the mber of people filing for unemployment benefits dropped by 14,000 in the past week. both reports bode well for tomorrow's monthly employment report. and many economists raised their estimates on the number of people getting new jobs in june. despite these positive developments, stock markets were mixed. european markets closed lower, and here on wall street, investors held off from making any big commitments. the dow fell 47 points, the nasdaq barely budged, and the s&p lost six points. "nightly business report" is brought to you by: captioning sponsored by wpbt >> tom: more now o

central bank's meeting well yes the e.c.b. the interest rates to store it all of the zero point seven five percent a little less than an hour ago the move comes amid fresh signs that europe's strongest economy germany has actually hit the down hit the valen turn and charles roberts of the capital in moscow told us the european central bank should have done that a long time ago. it's not going to make much difference it's a psychological boost if anything but the markets of pretty well priced in a twenty five basis point rate cut now. i would have thought they should have already last month and then followed up with another cup this month. and let's now check out the equity markets let's see europe first and as you can see it's actually gaining doing quite well the footsie is higher after the bank of england pumped an additional fifteen billion pounds into the economy and has completed its takeover of porcher which is driving volts wagon shares higher and moody's warning that it can downgrade barclays following the rates scanda

central bank says that the euro zone will remain intact but i want to talk about something else because a b.p. has finally seems to put a lid on its of course or the disaster in mexico and we know that it has come close to finalizing a seven billion euro deal with the u.s. authorities to basically end all the civil and criminal claims and a bushel takes a look at how that might not be enough to settle all the differences of this natural disaster. this is turning into a huge costly concern for the industry scientists here at the institute of oil are trying to find a way to contain what's become an ecological unpublicized. russia spill six b.p. disasters a year from it says one report that's more than any other country even volatile nigeria the african superpowers just point show for its biggest. two years after the world's longest of chill disaster b.p. is nearing a deal to settle all outstanding claims but fishermen affected say it's impossible to count how much and how long their lawyer will continue to be hit fish of the coast of louisiana being born with disease and missing movements

those were the comments that by the head of the president of the european central bank move on and take a look at markets in the russia there of course following suit tracking gains overseas also stronger crude prices are helping and also in the open up side information here we know that russian carmaker after us help around the sun make four million euros in profit in the first half of two thousand and twelve move on to asia it's still trading and there we also have a positive sides and that's been boosted by record profit results off south korean tech giant and i'm talking about samson electronics as we can see both the day and the hindsight are added i'm saying now over two percent in the politeness our quick look at currencies the euro is again and against the euro as dollars you can see there and the ruble is extending its gains against both major currencies now want to stay with the euro zone though and so more about they say when the british prime minister david cameron hopes of the olympic games will help the u.k. get back on track however historically they almost always leave t

the european central bank pledged that the eurozone will remain intact and also in south korea big giant there and i'm told that samsung electronics is helping suppose said cement after adding quite significantly let's move on to currencies and see what the euro dollar ruvell are telling us this hour when it comes to the euro it's a flat against the u.s. dollar and when it comes to the ruble game begins both major currencies that was on thursday will give you updated figures when the russian markets will open which is in about two hours from now but let's take a look at thursday session before the minutes gains both the r.t.s. and the mindsets or the ideas that are almost two and a half percent and that's a stark contrast to what we saw in the beginning of the week which was so steep losses across the board and of course a stronger crude prices are helping because russian economy is very energy dependent all right all the news let's focus and go back to europe to the u.k. which has now topped the list of countries exposed to that crisis in europe and new research says it relies too much