that makes it tough going for angela merkel. we have an election coming up next year. maybe that is one reason why today she was out launching a new campaign called "i want europe," supposed to be talking up membership in the eu, and that could prove very important for angela merkel in the coming months. >> thanks so very much. things may be looking bleak for the eurozone as a whole, but german tax revenues are surging. berlin's public finances are back in the black in the first six months of this year. >> that is even as europe's biggest economy begins to feel the effects of the debt crisis. new figures showed germany's budget surplus of over 8 billion euros. >> while other euro countries struggle with huge deficits, the money is pouring into germany treasury. in the first half of the year, the government took in more money than it spent. the surplus was due to a strong labor market and steady consumer spending. payments into the retirement and unemployment entrance programs were especially strong. after seeing a budget surplus in the year 2000, germany's fiscal situa

angela merkel is a tougher nut. elections are coming up next year in germany. support for bailouts is dwindling. angela merkel risks losing votes, so she is in a difficult position becto go on a 90-minutl roller coaster ride every week, to suffer extremes of disappointment and elation. one has achieved cult status for the way he has coached back-to- back bundesliga titles. one of just 23 coaches to win titles so far. here is the league trophy eight times in bayern-munich. a legend in the early years, winning the league wants with cologne and three times with another team, whose new coach learned a thing or two from the old master. >> i got to know him when he was coaching grasshoppers are, and i was playing for geneva. i was in close touch with him. >> some club coaches go to even higher things after successful stints in the bundesliga. the new season kicks off on friday, and you can bet that coaches are looking forward to the right -- ride. >> and the fans as well. if you had just joined us, you are watching the "journal." >> a surprisingly high number of priv

angela merkel is a tougher nut. elections are coming up next year in germany. support for bailouts is dwindling. angela merkel risks losing votes, so she is in a difficult position because she does not want to lose support at home, nd at the same time, she does not want to be blamed for being the one who kick degrees out of the eurozone. -- who kicked grease out of the eurozone. >> thank you for that. -- who kicked greece out of the eurozone. >> there are growing concerns of the spillover of fighting in syria into neighboring lebanon. signs of street fighting were visible in tripoli wednesday. the day after there was renewed fighting between supporters and critics of the syrian regime. least eight people have died and 75 were injured. >> reports coming in from syria say the government has stepped up attacks against rebel groups. >> this amateur footage is said to show a government attack west of a lot of -- a lack of -- the lack of -- aleppo. many civilians are wounded, traumatized. all have lost their homes in the violence. these images claim to show a helicop

merkel. >>> angela merkel and hold delivered strong words to greece after meeting in berlin on thursday. the leaders insist the country must stand by its commitments. today merkel is set to meet with the greek prime minister antonis samaras. he's expected to push for concessions having claimed the economy needs room to breathe. joining us now from athens is president at ef consulting. thanks very much indeed for joining us. antonis samaras is pushing for concessions, they want an extension to the time they need to payback. is he pursuing the right objectives? >> i don't think so. an extension would just add to the debt burden and for long the uncertainty as to whether greece will stay in the eurozone or not. i think what he should be asking instead is for official debt relief because even after the debt exchange that took place earlier this year, greece's debt burden will still be 165% of gdp by the end of this year. >> so -- i mean there are policemen of people saying this is what you do need in greece. many others saying german banks need to bite the bullet on this. how much debt reli

the tete a tete with angela merkel and said that this offensive reflects partly domestic pressure as monti's popularity has slumped above seventy percent to around thirty five percent due to public anger that there has been no reward for a debt cutting sacrifices that have worsened a deep recession well hey whoa whoa whoa listen the point of appointing a technocrat because they were above having to answer to public opinion because they weren't an elected politician that was worried about reelection whatever happened to that well let's bring constantine back in to answer that he's economist and co-author of the book what if ireland defaults and i guess i just want your take on this you know what i just said about people saying that montes recent efforts are because of public opinion i thought that was the whole point of having a technocrat does that to show that nobody can be above public pressure or does this particular analyst have it wrong. well no i think there is a combination of two things first of all there is very complex italian politics which are at play and italy is is on t

the tete a tete with angela merkel and said that this offensive reflects partly domestic pressure as monti's popularity has slumped above seventy percent to around thirty five percent due to public anger that there has been no reward for debt cutting sacrifices that have worsened a deep recession well hey whoa whoa whoa listen the point of appointing a technocrat because they were above having to answer to public opinion because they weren't an elected politician that was worried about reelection whatever happened to that well let's bring constantine back in to answer that he's economist and co-author of the book what if ireland defaults and i guess i just want your take on this you know what i just said about people saying that montes recent efforts are because of public opinion i thought that was the whole point of having a technocrat does that just show that nobody can be above public pressure or does this particular analyst have it wrong. well no i think there is a combination of two things first of all there is very complex italian politics which are at play and entirely is desi

impressive and full of hope -- that is how angela merkel described italy's reform efforts. the german chancellor even went as far as to say that she is personally convinced that the italian government's austerity drive will bear fruit, but then she went on to dash the hopes of italy's prime minister on at least one important front -- she said no to handing them a basting -- a banking licence to help boost firepower. >> german chancellor angela merkel and italian prime minister mario monti had a wide- ranging agenda for their meeting. in a press conference afterward, the two stressed their points of agreement. merkel praised monti's leadership and said that italy's reforms were improving europe's competitiveness. >> italy's comprehensive budget tightening and reform agenda is impressive. it is moving forward, step-by- step, and being implemented. >> the two differ over the role of the european stability mechanism. merkel said the fund should not be allowed to borrow directly from the european central bank, but that is an option that monti supports, and he praised the virtue

angela merkel and mario draghi, i think they -- we've had the script. we've had it from others last week. stick to the reform process. we must push for more europe and we're determined to defend euro and everybody who's in it. is that really new? no. >> thanks for that. >> we're getting reports now that water has flowed over the top of a flood defense in southeast louisiana early today when hurricane isaac caused huge rains. brian shactman, our very own brian shactman is in the middle of the storm at port of new orleans. >> very wisely we've chosen a hat to protect the hair, brian. looks pretty rough there. >> reporter: i know, i know. it's much worse when we went to bed last night. my first hurricane. definitely feels like a hurricane now. reports of levee breach at plaquemine's parish. that's not in new orleans. in term of the oil and gas stuff i've been covering, 93% of the entire gulf is shut to oil production, including everything, even the texas coast -- wow. in terms of gas it's a little less. a lot of the gas rigs can get up and move out of harm

angela merkel has asked for everyone to weigh their words carefully. after potentially inflammatory comments from germany's top policymakers over the weekend. in an interview, ecb bond buying covey late rules. today german finance minister meets his french counterparts in berlin. let's get out to patricia in tranquilize further. it looks like this war of words, even within germany just continuing over the weekend. >> reporter: especially within germany and, becky, to be honest with you it may heat up going forward which can be dangerous for the eurozone because remember in a about a year's time we do have elections coming through here in germany so the making greece and to the possibility of greece leaving the eurozone an issue for an election next year is definitely very dangerous indeed. interesting to see, of course, that meeting between them today ahead of jackson hole on friday. one thing to come out, we know where both are standing because france has been adamant about saying we need greece to stay in the why are you something that was expressed

the tete a tete with angela merkel and said that this offensive reflects partly domestic pressure as monti's popularity has slumped above seventy percent to around thirty five percent due to public anger that there has been no reward for debt cutting sacrifices that have worsened a deep recession well hey whoa whoa whoa listen the point of appointing a technocrat because they were above having to answer to public opinion because they weren't an elected politician that was worried about reelection whatever happened to that well let's bring constantine back in to answer that he's economist and co-author of the book what if ireland defaults and i guess i just want your take on this you know what i just said about people saying that montes recent efforts are because of public opinion i thought that was the whole point of having a technocrat does that just show that nobody can be above public pressure or does this particular analyst have it wrong. well no i think there is a combination of two things first of all there is very complex italian politics which are at play and entirely is isn'

we've moved away a lot more from that 7% mark on those comments out of angela merkel. ten year bund yields up. as far as currency markets, euro/dollar 1.2349. pretty steady. we did get a rally in the euro overnight. dollar/yen up to 79.37. aussie/dollar is down. so let's get over to singapore. >> thanks, ross. asian markets mostly finished higher. merkel backing ecb calmed market jitters. many expect easing measures. the shanghai comp gained. gains in banking shares on the back of those were offset by losses in developers and consumer stocks. hong kong shares fared better. shar nikkei climbed to close out its three month high. exporters extended gains on the weaker yen. the economy is facing some headwinds. in south korea ship builders with europe's exposure talk about merkels remarks. we'll get a bit more. aussie market added 0.9% led by energy and banking stocks. lastly india's sensex up by .1%. >>> with an interview with cnbc this morning, a member played down newspaper reports that finland is preparing for a euro breakup. they said it had to be prepared for the wor

why has angela merkel hit the top spot yet again? >> she has been number one on our list for six out of the past several years. now, more than ever, her political and policy decisions are influencing the state of year, and with the precarious euro zone, her decisions, what she does will impact not only europe but the rest of the world, so her power is greater than ever before. >> but how do you generally define a powerful woman, because although you have got hillary clinton at the number two spot, you have got lady gaga popping up at no. 14. >> we have taken a more expansive view on power. it is not just the traditional roles of c.e.o. where head of state, but it is people who have power in the form of influence, transformative figures who are influencing culture, who are setting the agenda on topics that matter the most common to people across the world, and it includes people like lady gaga and women who are not in traditional power roles, so we talk about power and influence. >> you have got a new category, and this is the first t

last year german chancellor angela merkel took the prize. two years ago it was michelle ambassad obama. last year hillary clinton was just edged out. who would you name as the world's most powerful woman? brian has tweeted in to say, no one has unseeded angela merkel. the ir get in touch with us at e-mail or tweet us @cnbcwex or reach us individually. especially if you want to comment on the cowboy hat look that ross has gone with this morning. >> do i wear it in the right -- i want to know if you're from texas, was i wearing it right? probably wasn't enough gallon in that hat. probably a five gallon. i probably need the ten gallon. i'm presuming the gallon applies to the -- >> the size. >> -- the height of the bit in the middle. >> we'll have to find out. >> the crown. let us know. . meanwhile, more evidence of pressure facing global minors. from bhp billiton, the stock down 1.16%. they've been suffering from chinese key attributes like iron ore. bhp saying they're going to delay expansion of olympic dam. now also going to -- there's no dec

also jetted off to berlin for talks with angela merkel, who he hopes is upbeat after her holiday. but creditor nations in the north are a lot cooler on the idea. the german mp from angela merkel's gdu hinted that germany was throwing good money after bad by lending money to greece. what is the point of german taxpayers getting if you's if the desert cannot or will not pay? so why give greece more time when it has barely started to make the structural changes it agreed to? >> the economy is still in a tailspin. there is a recognition that there is a need to provide additional relief for a couple of years so that the new government can meet its fiscal target, and that, of course, creates additional financing, which is a difficult competition amongst creditor countries. >> meanwhile, something big is in the offing in frankfurt. home to the european central bank. it looks like a final use the biggest arsenal in its arsenal for a program of unemployment -- unlimited bond buying here that means the ecb will effectively go to war with the markets and buy up government bonds of weaker cou

angela merkel will have trouble domestically. sandra: thank you for joining us. areas the government program to let you say what the major news will be. it is calls crowd surfing predictions. it was a weird slip up. how accurate is it? one of these production projects, raja charles is a research professor at george mason university. thank you for joining us. so how exactly did these work? >> two parts to crowd sourcing. one with a lot of people have heard of thanks to a popular book is the wisdom of the crowds where if you have to forecast something in the future or estimates the wake of an office, if you average the estimates from a large number of people that average is likely to be as good or better than the best single estimate. the second part which we are looking into at george mason is if you don't take a simple average but you ask the mathematics of markets to it then you give people an incentive to make a stronger estimate when they really do no more or are more confident and leave the question alone when they don't have any extra information. sandra: th

merkel, who is currently on holiday. germany so far has been firmly opposed to the idea of providing the esm with a banking license. >> let's take a closer look at this idea. >> the whole point would be to give more firepower to the fund. with a banking license, it could borrow huge amounts of money from the european central bank and use it to buy more bonds from the likes of italy and spain. >> but as we heard in the report, the idea is very controversial in germany. in madrid, it seems a step that could make a big difference. >> the summer has not eased the eurozone's woes, especially not in spain. last week, spanish bond yields soared to about 7%, a level that many analysts say is unsustainable in the long run, but that is where the european stability mechanism is supposed to come in. some southern european -- some southern european eurozone members are pushing to boost its firepower. they envision the esm as a bank that could buy bonds from dead- ridden governments -- debt- ridden governments. the ec would not be dir

why has angela merkel hit the top spot yet again? >> she has been number one on our list for six out of the past several years. now, more than ever, her political and policy decisions are influencing the state of year, and with the precarious euro zone, her decisions, what she does will impact not only europe but the rest of the world, so her power is greater than ever before. >> but how do you generally define a powerful woman, because although you have got hillary clinton at the number two spot, you have got lady gaga popping up at no. 14. >> we have taken a more expansive view on power. it is not just the traditional roles of c.e. where head of state, but it is people who have power in the form of influence, transformative figures who are influencing culture, who are setting the agenda on topics that matter the most common to people across the world, and it includes people like lady gaga and women who are not in traditional power roles, so we talk about power and influence. >> you have got a new category, and this is the first tim

investors can thank germany's angela merkel for today's market rally. speaking in canada, the german chancellor said she's committed to defending the euro. her comments come just two weeks after european central bank president mario draghi said he'd do whatever it takes to preserve the euro. merkel repeated that commitment, saying, "we feel committed to do everything we can in order to maintain the common currency." she went on to say that draghi's promises "are completely in line with what we've said all along." investors were encouraged, and stocks rose in europe and here in the u.s. the dow gained 85 points, the nasdaq added 31, and the s&p up about ten points. joining us now, david kelly, chief market strategist at j.p. morgan funds. so david, investors are really counting on central bankers in europe and in the united states to do something to rescue the global economy. realistically what should they be expecting to happen? >> i don't really think that's quite the way to frame it i think what we're seeing particularly in europe, we believe the euro

on wednesday, angela merkel meets francois hollande, the french leader. then sam ross and merkel the day after that. on saturday, saros -- antonis samaras in paris. so the leaders are meeting this week. not sure it is the make or break week some have suggested. it all hinges on the cerrito report which is still a couple weeks away. if greece is going to be ousted from the eurozone, as many people guess it might ultimately be, nobody wants to be seen as the prime mover, not least germany. there are people are behind the scenes hoping that the troika will give greece a poor record in terms of its efforts to introduce austerity. then they could possibly show greece the door, saying it is those anonymous follows from the troika to represent the european union, imf, and european central bank, they are to blame and not us but i should add that it is eurozone policy to keep greece in the club at the moment. that is planned a. a lot of people are talking about plan b. >> of course, the markets will be watching the situation in greece very closely this week. here

investors can thank germany's angela merkel for today's market rally. speaking in canada, the german chancellor said she's committed to defending the euro. her comments come just two weeks after european central bank president mario draghi said he'd do whatever it takes to preserve the euro. merkel repeated that commitment, saying, "we feel committed to do everything we can in order to maintain the common currency." she went on to say that draghi's promises "are completely in line with what we've said all along." investors we encouraged, and stocks rose inurope d here in the u.s. e dow ined 85 ints, the nasdaq added 31, and the s&p up about ten points. joining us now, david kelly, chief market strategist at j.p. morgan funds. so david, investors are really counting on central bankers in europe and in the united states to do something to rescue the global economy. realistically what should they be expecting to happen? >> i don't really think that's quite the way to frame it i think what we're seeing particularly in europe, we believe the european central

investors can thank germany's angela merkel for today's market rally. speaking in canada, the german chancellor said she's committed to defending the euro. her comments come just two weeks after european central bank president mario draghi said he'd do whatever it takes to preserve the euro. merkel repeated that commitment, saying, "we feel committed to do everything we can in order to maintain the common currency." she went on to say that draghi's promises "are completely in line with what we've said all a investors were encouraged, and stocks rose in europe and here in the u.s.inepoth, w gaed 85 pe nasdaq added 31, and the s&p up about ten points. joining us now, david kelly, chief market strategist at j.p. morgan funds. so david, investors are really counting on central bankers in europe and in the united states to do something to rescue the global economy. realistically what should they be expecting to happen? >> i don't really think that's quite the way to frame it i think what we're seeing particularly in europe, we believe the european central ba

german chancellor angela merkel in china to drum up business and convince beijing that the euro is on the road to recovery says we. need to impose further. reforms. it's a billboard in half an hour's time for now though that the people and hated by their banks. max kaiser this is the kaiser report yeah now i know i jamie diamond doesn't come on the show stacey max the first headline might have something to do with that economist appearing on max keiser show forced to resign this is on forbes magazine max and in an email confirming the action sandeep jaitley explained to me apparently they don't want to burn bridges at the gold standard institute and i take this to mean bridges with large benefactors and partners however jaitley is unfazed and values to continue his work including a ph d. acceptance speech on the lewd big split from carl manga and eugene vaughan bone by a work regarding certain aspects of interest rate theory but. you say i figured out that the whole mazes institute was populated with dangerous ideologues and that these guys formed the basis for the corruption on wall

german chancellor angela merkel is on a visit to china at the moment hoping to tap into the country's military muscle to help pull europe out of its downward spiral she's seeking to boost the flow of investment from beijing into the european stability fund. financial trouble that the summit worked hard to create however hands the money from the european council on foreign relations says the chinese are in no hurry to lend a hand to berlin. the big hope in europe is that the chinese would invest in some of the new. vehicles that have been crazy like the european stability mechanism. the chinese. offering lots of words of support today and yesterday but not much in the way of concrete promises to buy bonds in any case the chinese don't tend to make their bond purchases public so we don't know for example how much the chinese invested in european bones in the last two years since the euro crisis began anyway and we probably won't know so there's a lot of there's a lot of uncertainty about in the case of a bus obviously this is a european company and so it would benefit not just germany b

merkel has been meeting technocrat prime minister mario monti monti is seeking help to help. costs he's also praised germany for improving governance in the eurozone but more may be on the cards. spain's leader is waiting for action from europe central bank before deciding whether to ask for help or one of its regions catalonia as meanwhile run out of money. and i.m.f. inspectors are in portugal to rule if the country has tightened its belt enough to receive more cash in may when it was forced into asking for seventy eight billion euros worth of rescue. our deficits targets our. targets will not be achieved and for a very simple reason that the medicine that. we have given to the party is the economy is soft if you take the economy is contracting so there is much less tax collection than what we had before so mainly because of a huge gout on tax collection the portuguese government is again. and balanced budget which was after all the main point of having the money from that from the troika i think that there is an invasion on part of mainly berlin and barriers to have greece

merkel has been meeting technocrat prime minister mario monti seeking to help curb soaring costs he's also praised germany for improving governments in the eurozone but more bailouts may be on the cards spain's leader is waiting for action from europe central bank before deciding whether to ask for help but one of those regions that have catalonia has already run out of money. and i.m.f. inspectors are in portugal to rule if that country has tightened its belt enough to receive yet more cash in may lisbon was forced into asking for seventy eight billion euros worth of rescue. our deficits targets our target targets will not be achieved and for a very simple reason that the medicine that. we have given to the party is the economy is self-defeating the economy is contracting so there is much less tax collection than what we had before mainly because of a huge crowd on tax collection the portuguese government is again. and balanced budget which was after all the main point of having the money from the from the truck and i think that there is an invasion on part of mainly berlin and barri

german politicians state their claim ahead of a key meeting between angela merkel and antonis samaras. >> the ecb is considering setting a trigger for sovereign bond purchases. >> the former wife has a suspended sentence. >> london shares are under pressure, workers told to return at south african mine or face dismissals. there's a $1 billion rights issue pure speculation. >> okay. welcome to the show. i was a little lonely on friday. >> how did it go? >> i was lonely. dublin was good? >> i was not lonely. >> no. >> you'll have time at the end of this week and a little bit next week. we'll have to make the most of it while we're together. >> for the next three days. let's tell you what's coming up. celebration is over for europe's top politician. leaders of germany, france and freese will hold a series of meetings this week. on friday the greek prime minister, antonis samaras is expected to ask for more lenient bailout terms when he meets both those leaders. top politicians refused to grant athens any further concessions. ahead of that the german foreign minister is holding a conferen

pero además de la presidenta muy arriba hay otras latinoamericanas >>> la canciller federal alemana angela merkel está de visita en china y su agenda no se detiene y eso ha influido para ser la mujer más influyente del momento,la siguen la secretaria de estado hillary clinton y en el tercer lugar la presidenta de brasil, dilma rousseff, que saltando del puesto 95 hace dos años pasa a estar en las 3 grandes, los cargos son cada vez de más responsabilidad. >>> creo que es una sorpresa para el género masculino que en menos de 100 años se haya volteado la tortilla. >>> estas mujeres están cambianod el planeta, así lo dijo moira forbes. >>> dilma roussef no es la única que está en la lista, la presidenta de argentina, cristina fernández de kirchner está también, sofía vergara, que con su sentido del humor está en el puesto 75 y la espectacular modelo brasileña gisele ... está entre las mujeres mejor pagadas de las pasarelas, esto viene por su participación en las redes sociales, jennifer lópez tiene 10 millones , shakira sobre 18 millones, cuál es el reto para las mujeres de

liz: do you think angela merkel will come around? she has held off because she has a constituency that is very much against spending its country's money on these other countries which have not been as austere or at least responsible? >> i think not. i'm afraid she's not. the best thing would be if you change her mind and be much more pro-european and much more pro euro. i'm afraid she is following slavishly the political currents of her own country and she is going to stay a local politician rather than a promoter of european unity. david: got to leave it at that. nicholas, great to have your views. thank you for coming on. please come back. liz: thank you. >> thank you. david: also drought conditions leaving dozens of barges stranded along the mississippi. we saw this before with jeff flock. he is a little more stable. not moving as fast as he was yesterday. where are you now, jeff? what is the latest. >> we'll get to the that. we're in clinton, iowa. we're at ad. in, archer daniels midland. the barges are ready now that it is open

yesterday angela merkel emerged from the witness protection program. she was dressed in her fairy godmother outfit so everyone felt better about that. we got another leg-up in this rally. there was a remarkable lack of detail, however. and i think that's why people will tiptoe into the weekend. >> if you look at what draghi said two weeks ago, it was obvious he was going to keep the germs on board. that's why he was announcing the process that spain and italy had to ask for the bailout. you could have predicted the germans would be on board. >> well, verbally they're on board. i think -- we don't have the detail yet. spain hasn't said, i admit it, i need a helping hand. that hasn't happened. so, again, i would suggest to you, simon, that we're lacking the details, which has been a problem in this all the way through. >> but technically speaking from the market standpoint, you mentioned the push higher, the leveling out and then the push higher again. technically speaking, isn't that a good move for the markets to 4 1/2-year highs on the dow. 20 points

last year, german chancellor angela merkel was tops followed by hick and then president of brazil. last year cheryl sandberg of facebook was fifth and google's was 16th. hard to imagine facebook will do well this year and hard to imagine angela merkel will fall from number one. most of europe is depending on that woman. i imagine she will stay in the top five. >> good guess. thank you very much. >> let's check in with a woman who is at the top of our list, christina loren. good morning. >> the dog house list. good morning. we got a great looking day shaping up. you want to get outdoors today. one of those days where you'll be treated with just the perfect element especially in san jose. 77 degrees. gentle breeze off the pacific. this evening 86 degrees in places like livermore and concord. need a jacket for first part of the day but the sun will be out between 12:00 and 3:00. let's check out on that drive. here's mike inouye. >> heading over the richmond bridge, a truck fire reported on the lower deck that eastbound from sanofil. we'll follow this as the bridge crew gets there and

all eyes will be on angela merkel as she meets with the greek prime minister tomorrow. our europe and reports. >> from chancellor merkel's office, she can see a country that has largely been isolated from the eurozone crisis. even the german economy is slowing. when the french president goes into berlin tonight, greece top the agenda. the greeks are seeking extra time. chancellor merkel was clear, commitments made had to be honored. >> it is important for me that we all stick to our commitments. i would incur decreased to continue along its path which has demanded a lot of the greek people. >> the french president was careful to insure that his message chime with that of the german chancellor. >> the what agrees to stay in the euro. it is up to grease to make the necessary efforts. >> neither addressed whether greece should be given more time. over the summer, the mood has hardened against recession. this business makes heating systems. you can help greece but at some stage it becomes a bottomless pit. let them leave the euro, and we will see how they do. and his views

coming up in a bit, angry words from angela merkel. a woman you don't want to get angry. we'll look at that coming up. >> thanks so much. we'll look forward to that. also starting the work week. >> oh, yeah. i know i'm supereager. >> it's not going to be bad, to make everything a littleç b easier. if it means walking to the car. temperatures are not that cold out there. 59 degrees in oakland. at 59 in san francisco, and even the chilly spot on the map, santa rosa, 47 degrees is not too bad especially by your standards in wine country. we head throughout the day today, we're going to get treated with some of the best weather across the nation. area of low pressure sits and spins off the coast in the pacific northwest as we head throughout this week. that's going to usher in a nice comfortable on shore flow each day and temperatures are going to be perfect.ç we're going to get a stretch of weather that is down rightç comfortable. cool at the coast with fog each morning, but really getting traditional weather for this time of year holding on to the norms as we head int

radicals light nicholke nicolasy and angela merkel have a tax on currency transactions that would bring in $350 billion a year. some of my heroes are the nurses of this country. national nurses united heal america. tax-loss >>> there are a slew -- tax on wall street. there are a slew of good things that 1%ers are for. >> he is not really offering of a lot. >> he is talking about being taxed less than his assistant. there is a group of patriotic millionaires. it is the belief that you owe backe to a country that has helped to make you what you are. steve jobs -- we had a tough column in the last issue. it was tough not about apple labor practices in china. here you had a man of great wealth was talking about cutting taxes and never really gave of his philanthropic wealth. poor bill gates, he gets nailed for being so square. you can disagree with some things. but he is out there. >> all of them out there now came a little late to the party. they got very rich, very young. i wanted to leave some time for audience questions. i have not read more questions from the audience because they are

but it is the question of making the currency union work angela merkel said that in europe collapses europe will collapse. what chance do you think these collapse may take are we talking about a full blown catastrophe or just some sort of political divorce she said. while cord and or will power so best translation of their child would be a sin is to feed it so she says if the euro fails to europe we have failed and this is the political threat and the entity is a means. to get people and political parties and their turn over. the public to agree to the kind of policy but. one has to ask what that means. to what is europe. to europe is first and foremost. a continent which the thread should from. the good part try to work out the rule isn't much more of a currency union. and in addition. to europe is a cultural idea and it kids as far as their european union is consarned it. it is the economic union and nothing of this does fail. to take your fields because. of the success story of your pin community was written between nineteen forty five and nine hundred ninety nine this. but i don'

merkel meet with the chinese leadership there have been some claims from german companies that there has been political interference while they're working with in china also some of the companies claiming that has been intellectual property violations from their chinese partners so will be the eurozone crisis on increasing economic ties that will top the bill when it comes to anglo merkel talking to the chinese leadership what will be underlining the meeting is the cruel fact that germany needs china far more right now than china needs germany. all right well for more on the subject of marco's visit to china we can now talk to professor simon chan from of hong kong city university thanks very much for being with us here in the program sorry now where joe has and number of goals in china of course among them attracting investment and convincing beijing that the debt crisis in the eurozone is under control so what are you saying needs who more in this relationship. basically to both sides. the germans wish to companies to shine is to support the eurozone to buy some of the bones of the

still, the european aerospace company is perhaps the real winner of chancellor angela merkel's visit to china. chinese representatives are set to buy 50 of airbus' aircraft, but there were rumors that china wanted to buy 100 of the new passenger jets. the deal also seized airbus' only production facility outside the eu. the new agreements will net airbus more than 4 billion euros in total, but the agreement is not just profitable -- it is politically important as well. chinese airlines refuse to pay environmental protection taxes required by the eu, and china recently canceled a similar deal due to a spat with regulators. business leaders from both countries also agreed to expand the chinese telecom network, and volkswagen ag aims to expand its chinese operations. local consumers buy more volkswagen product than germans do, and the german company has long seen china as a key market. vw produces cars and components in 11 chinese factories, and has plans to build a new plant. groundbreaking is scheduled for friday, and chancellor merkel will be in attendance. >> moving on to other inte

. >> here in germany, chancellor angela merkel has praised canada from actually in canada for its policy of not running up a large federal debt. >> the canadian prime ministers praised germany's resolve in seeking solutions to the european debt crisis. these are not the pictures i wanted to show you. this is obviously not canada. canada and the european union working on free trade agreements. when germany tells southern europe countries to push through tough reforms, it is speaking from experience. it was a decade ago that the government began some of the biggest changes to its social welfare programs. >> today, many economists say they helped prepare germany for the fiscal challenges of today. at the time, the which became synonymous with tough cuts that hurt the little man. -- the words became synonymous with tough cuts. >> we have shape of the future 4 2 million unemployed here. i wish you and all of us every success in implementing it. >> they fare -- the on a planned program requires the jobless to take on low-paid work or retrained. anyone refusing to do so is liable to refuse bene

ashley webster standing by with everything going on with angela merkel. she gets around, this lady. >> she certainly does. she basically went in there with all the massive government debt, how are you going to put that into a nice package? just make sure the chinese are willing to buy chinese bonds, which they say they are, but unwilling to do any full-blown bailout. meanwhile back in angela merkel's home country, germany's unemployment rate holding steady below the number of people out of work hitting 9000 more in august. that is not a good sign, but the market themselves had a rough day. more a sense ben bernanke will not say anything earth shattering. cheryl: honestly i consumer ben bernanke wouldn't do stimulus. there are lots of mario's. >> the ecb meeting in frankfurt, taught that they will meet for the german called, for their decision on the 12th of september regarding the constitutional legality of having full-blown bailout in germany, but what will the ecb do? a lot of hopes they will announce the bond programs this time around. cheryl: tracy by

what do angela merkel, hillary clinton and lady gaga run the world? you may think so. they are topping the forbes list of the world's 100 most powerful women. the brand new list of female elite released this morning and will appear in the september issue of "forbes" magazine. to talk more about this i'm joined now by mora forbes. she is vice president and publisher of "forbes" woman. it's great to have you here. as we take a look at the cover for everybody we're going to show brazilian president roussef. number one on the list for the second year in a row is german chancellor angela merkel. obviously the eurozone crisis earns her this spot. does she effectively continue to hold the world economy in her hands? >> she definitely wields extraordinary power. not only is she at the helm of the fourth largest country in terms of gdp but the eurozone in a tenuous situation that it is impacts the economies of the rest of the world. if she lets europe tank each country, all of us are going to suffer. >> as we start to look domestically at the list hillary rodham clinton ranks n