and italy will play out italy says the blocks fiscal rules are counterproductive economists are concerned. that the current proposed budget is not in line with the e.u. requirements on the fiscal deficit and saw. european commission has asked its a lead to revise its budget downwards of the revise the deficit don't reduce a deficit. and i think it has done so in a pretty strong way. the conflict is escalating and there's no solution in sight. the owners of this stone masonry business also complain about all the new taxes. the brother and sister who run the family owned business or worried about the ongoing budgetary fight. they are forcing europe on us it's an impossible since some of them were happy to stay together but only up to a certain point. i don't think it's so great but actually leave the e.u. i don't know about that. the firm sells marble and granite a lot of the work is done by hand and its troubles to compete on price. the glass is need to buy new machines but can't afford to do so. do the right. we used to make enough profit to be able to invest in materials and staff and th

and italy will play out italy says the blocks fiscal rules are counterproductive economists are concerned. that the current proposed budget is not in line with the e.u. requirements on the fiscal deficit and saw the commission has asked italy to revise its budget downwards of the revise the deficit down would reduce the deficit . and i think it has done so in a pretty strong way. the conflict is escalating and there's no solution in sight. the owners of this stone masonry business also complain about all the new taxes. down brother and sister who run the family owned business are worried about the on . during budgetary fight. they are forcing europe on us it's only possible. we're happy to stay together but only up to a certain point. i don't think it's so great but actually leave the e.u. i don't know about that. the firm sells marble and granite a lot of the work is done by hand and its troubles to compete on price. but glasses need to buy new machines but can't afford to do so. i do the right. we used to make enough profit to be able to invest in materials and staff and then going to t

recession in italy with negative consequences for for employment and for for jobs in italy. so the conflict is scaring off investors. and the frustration in italy grows and grows some rebellious minds are saying it's no longer just about taxes and that italy's radical coalition government which they once supported is no longer radical enough. the owner of this restaurant for instance wants venice to become an independent republic one that doesn't tax its citizens at all. we have nothing to do with the italian state. the combination of economic problems under spark of rebellion in italy could prove to be an explosive mix. there in germany average city dwellers are increasingly fed up with frequent and steep rent hikes real estate investors are feeling drawn to places like berlin like bass or honey after buying and renovating buildings they often jack up the rents for long term residents in the process as a result many renters feel they're being driven from the city but rebellion is in the teds i'm not going quietly. i moved to berlin five years ago the city's image then was p

recession in italy with negative consequences for for employment and for for jobs in italy. so the conflict is scaring off investors. and the frustration in italy grows and grows some rebellious minds of say it's no longer just about taxes and that italy's radical coalition government which they once supported is no longer radical enough. the owner of this restaurant for instance wants venice to become an independent republic one that doesn't tax its citizens at all. we have nothing to do with the italian state. the combination of economic problems under spark of rebellion in italy could prove to be an explosive mix. here in germany average city dwellers are increasingly fed up with frequent and steep rent hikes real estate investors are feeling drawn to places like berlin like bass or honey after buying and renovating buildings they often jack up the rents for long term residents in the process as a result many renters feel they're being driven from the city but rebellion is india the tenants are not going quietly. i moved to berlin five years ago the city's image then was

and italy will play out italy says the blocks fiscal rules are counterproductive economists are concerned. that the current proposed budget is not in line with the e.u. requirements on the fiscal deficit and saw. the commission has asked italy to revise its budget our words of the revised the deficit down would reduce the deficit. and i think it has done so in a pretty strong way. the conflict is escalating and there is no solution in sight. the owners of this stone masonry business also complain about all the new taxes. now and the brother and sister who run the family owned business or worried about the ongoing budgetary fight. they are forcing europe on us it's only some of them were happy to stay together but only up to a certain point. i don't think it's so great but actually leave the e.u. i don't know about that. the farm sells marble and granite a lot of the work is done by hand and it struggles to compete on price. but glass is need to buy new machines but can't afford to do so. although my did. we used to make enough profit to be able to invest in materials and staff and in goin

and italy will play out italy says the block's fiscal rules are counterproductive economists are concerned. that the current proposed budget is not in line with the u. requirements on the fiscal deficit and saw the european commission has asked italy to revise its budget downgrades of the revised the deficit don't reduce a deficit. and i think it has done so in a pretty strong way. the conflict is escalating and there's no solution in sight. the owners of this stone masonry business also complain about all the new taxes. the way they don't with their brother and sister who run the family owned business are worried about the ongoing budgetary fight. they're forcing europe on us it's an impossible since i want to give anything we're happy to stay together but only up to a certain point. i don't think it's so great but actually leave the e.u. i don't know about that. part of the firm sells marble and granite a lot of the work is done by hand and it struggles to compete on price. the glasses need to buy new machines but can't afford to do so. we used to make enough profit to be able to invest

the big story is italy. some headlines in terms of the eu holding off on italy sanctions procedure over the budget. rallyingssets strongly today. tom: the new low rate regime is something. right now your first word news. >> a victory for president trump. has to a measure to overhaul sentencing guidelines. it will curtail sentences for some nonviolent offenders. the president had lobbied for the bill. senate republicans are trying to avert a shutdown and delay the fight over the border wall until february. they are considering a spending bill that would finance the government until february 8. theresa may has put the u.k. on high alert. more than 150 companies obtain personal data. , netflix and spotify could read users private messages. facebook saying it found no abuse by any of those partners. global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. tom: thank you. equities, bonds, currencies, commodities, o

what you have in italy is a government that is determined to get growth going again, because italy -- that's been italy's big problem it had terribly low growth during its membership of the euro but it has a huge debt to worry about. if the markets lose faith in italy, you could have a euro crisis >> how ugly or how rosy are your predictions for brexit >> messy in almost any scenario you can imagine you get a situation where very few people are actually happy with what happens. even under a brexit that happens relatively smoothly. the recriminations will set in this is not brexit the brexiteers wanted. remainders would be unhappy by definition if and when we leave the european union it's not a cheerful outlook. i think it's not a settled outlook. almost whatever happens the arguments and the negotiations will carry on. >> now, we have been putting a lot of focus on the euro group meeting, talking about the different forces at play in the european union president macron an france being one of those who has been super charging further integration of the european union bearing in mind br

election in march and even more insecurity for italy citizens. here paean parliament has approved an agreement with japan that has been called the world's biggest trade deal that establishes trade guidelines for a third of the world's agreement g.d.p. the. it will go into effect in february that you and japan have been working on the deal since for thirteen you terrace and japanese cars will be abolished as well japanese tariffs on european cheeses and whites european companies will also have benefits to public than hers in japan some leaders even see the deal with tokyo as a possible labile for future relations with britain after it leaves the bloc. though we asked. at the kiel institute for the world economy what this deal means in these challenging times for free trade agreements. it definitely would be better to have a multilateral agreement but that's out of the question the g twenty summit in buenos aires declared it dead so we have to rely on large bilateral agreements and japan is a good start it's also a signal to the entire internationa

after eight months reuben's return to italy. as his reputation continued to grow so did his personal wealth. and. you need to keep in mind that rubens was a relatively well situated man when he was in italy he wasn't that young a penniless painter willing to starve for his art he was actually a wealthy man who travelled with companions and servants and who to the envy of some italian painters had ridden through rome on an equal footing with other noblemen give him the. rubens position gave him access to the leading art collections in italy. the rich and powerful furnished their residences with magnificent galleries like the tree in the zero feet see. contemporary art was displayed alongside works of antiquity. in his later paintings rubens would reference the pose of the famous medic venus. part of his unparalleled skill in his ability to transform a vast variety of stylistic influences from classical to contemporary into a personal style that was new and original. the influence of the moves if you it's hard to overstate the inf

the drain get outcomes from the village and family clans of culebra southern italy it's considered at least most powerful mafia organization in recent years it's managed to surpass other mafia families by dominating drug trafficking trades into europe according to prosecutors it's the only italian organized crime syndicate operating on all continents in germany alone there are thought to be about three hundred known drawing get to members the head of germany's federal police said the arrests should take a considerable toll on their operations. to the international cooperation we managed to hit that. very purposefully and despite the adverse circumstances and conspiratorial forces working against us we have landed them a sensitive blow at least for the time being. according to officials the operations these groups were running are now closed how long they will stay that way however is anyone's guess. in the talk about this i'm joined at the big table now by julian or bear who was working with the german anti-mafia movement mafia nine dunker mafia no think. it's active in the fight agai

election in march and even more insecurity for italy citizens. here pm parliament has approved an agreement with japan that has been called the world's biggest trade deal that establishes trade guidelines for a third of the world's g.d.p. their women. it will go into effect in february that you and japan have been working on the deal since for thirteen you terrorists and japanese cars will be abolished as well japanese tariffs on european cheeses and whites european companies will also have benefits to public lenders in japan some leaders even see the deal with tokyo as a possible lawful for future relations with britain after it leaves the bloc. so we asked. at the kiel institute for the world economy what this deal means in these challenging times for free trade agreements. it definitely would be better to have a multilateral agreement but that's out of the question the g twenty summit in buenos aires declared it dead so we have to rely on large bilateral agreements and japan is a good start it's also a signal to the entire international commun

after eight months reuben's return to italy. as his reputation continued to grow so did his personal wealth. you need to keep in mind that rubens was a relatively well situated man when he was in italy he wasn't that young a penniless painter willing to starve for his art but that he was actually a wealthy man who travelled with companions and servants and who to the envy of some italian painters had ridden through rome on an equal footing with other noblemen. ruben's position gave him access to the leading art collections in italy. the rich and powerful furnished their residences with magnificent galleries like the trigona in the a feat see. contemporary art was displayed alongside works of antiquity. in his later paintings rubens would reference the pose of the famous medic venus. part of his unparalleled skill and his ability to transform a vast variety of stylistic influences from classical to contemporary into a personal style that was new and original. the influence of the moves if you have it's hard to overstate the influ

on the program italy makes concessions to the e.u. on its twenty nine thousand budget but will they be enough to convince brussels will analyze this latest proposal. and a german company seals the deal to get access to the world's largest lithium reserve in bolivia we'll tell you why the move could be crucial for the german economy. it's time for business on the w m how you know to get us welcome to the program shares in china's largest music streaming service tense and rose on their first day of trade on the new york stock exchange the company's i.p.o. of eighty two million shares priced at thirteen dollars a share at the opening bell but they surged more than ten percent before settling slightly lower the i.p.o. raised more than a billion dollars one of the largest by a chinese company. our financial correspondent has been following of course this i.p.o. for us yes it's good to see you so what do we make of this first day does it mean good times to come for ten cent. well it was the solace was not a stellar start into trading here a

also on the program italy makes concessions to the e.u. on its twenty nine thousand budget but will they be enough to convince brussels will analyze the sceptic on this latest proposal. and a german company seals the deal to get access to the world's largest lithium reserve in bolivia we'll tell you why the move could be crucial for the german economy. it's for business on the w.b. and how you know to get us welcome to the program shares in china's largest music streaming service tense and rose on their first day of trade on the new york stock exchange the company's i.p.o. of eighty two million shares priced at thirteen dollars a share at the opening bell but they surged more than ten percent before settling slightly lower the i.p.o. raised more than a billion dollars one of the largest by a chinese company. our financial correspondent has been following of course this i.p.o. for us yes it's good to see you so what do we make of this first day does it mean good times to come for ten cent. well it was his soul it was not a stellar start int

threatened to finance for violating fiscal rules italy's public debt now stands at more than one hundred thirty percent of g.d.p. that's more than double of what's allowed under e.u. rules another thing that will need to be talked about it's going to do much has you standing by in brussels for a scaled hours and hours of negotiations there but not really much of a result when you say. ben are just full of the joint press conference of lemaire the french finance minister and his german counterparts all of schultz and i have to say for finance ministers they were just upbeat they were positively ecstatic about what has been achieved speaking about giant leaps forwards that were made and draw understand that you have to see where they come from many ideas were thought to be debt in the water and now they are back on the table less ambitious maybe but take the european stability mechanism for instance it has new responsibilities the firefighters as those ministers explained it has a better tool box to fight a potential debt crisis and from their perspective it's positive news for the eurozon

as tensions rise with brussels over italy's budget businesses say they're worried about the government's ability to keep the economy afloat. and it's one of thailand's most popular sports kickboxing also gives four children a shot at a better life the doctors are warning that young people are paying too high a price to succeed we visit a gym to see how dangerous the sport is for you. or. i'm sumi so much going to thank you for joining us the french government will reportedly suspend an unpopular tax on fuel that's supposed to go into effect next month and unnamed government source says the announcement will be made later today now that. comes in response to violent protests that have shut down central paris officials are trying to quell on rest that was sparked by president nikon's policies and economic conditions the so-called gallow vast protests began in mid november and have since appalled into a wider revolt against michael demonstrators accuse them of favoring the elite three people have been killed in the violence. let's bring in correspondent and elizabeth matteo in paris for mor

he decided to remain nevertheless and would never return to italy. his brother introduced him to a young woman and rubens fell in love. in a portrait ruben's painted shortly after their wedding the couple holds hands and appears almost relaxed their gaze alert. the painting lacks the formality of the stiff portraits of men and women common at the time this is a young couple looking to the future with self confidence and optimism. it was a time of fresh hope an end to our third catholic spanish netherlands had agreed a ceasefire with the northern provinces the royal couple the archduchess isabella and archduke albert had heard of ruben success and asked him to enter their service as court painter. ruben's agree but exercising the leverage of a rising star he negotiated special conditions. he insisted on remaining in antwerp rather than moving to the court in brussels and ensured that he would be able to continue working for other patrons. the catholic church commissioned an altar painting that today is located in antwerp cathedral of our lady. reuben

after eight months reuben's return to italy. as his reputation continued to grow so did his personal wealth. and. you need to keep in mind that rubens was a relatively well situated man when he was in italy he wasn't that young penniless painter willing to starve for his art that he was actually a wealthy man who travelled with companions and servants and who to the envy of some italian painters had ridden through rome on an equal footing with other noblemen get. ruben's position gave him access to the leading our collections in italy. the rich and powerful furnished their residences with magnificent galleries like the trigona in the zero feet see. contemporary art was displayed alongside works of antiquity. in his later paintings rubens would reference the pose of the famous venus. part of his unparalleled skill and his ability to transform a vast variety of stylistic influences from classical to contemporary into a personal style that was new and original. the influence the moves if you have it's hard to overstate the influenc

we see lower volatility in meet italy -- in italy, but i can remember the french german thread at 100 basis points. there's more volatility in the 1990's compared to now. anna: many peripheral europeans eurozone economies benefiting from cheaper borrowing costs. that has been a major advantage, i suppose. alan: it has. it means right now at the front end, you've got negative yields virtually everywhere. you wouldn't have seen that in the 1990's. i'm quite sure that the likes of france, italy circa .5, would have been much higher in the 1990's. it's made cheaper financing. i have to say, despite that, the likes of italy had disappointing economic growth over that period. inflationa big tick, rates low five. anna: on that story, mario draghi pointing out there was a generation that only knows the euro. he said during that time, the ecb delivered on its task of maintaining price stability. let's look back at that over 20 years. the few thousand -- the 2000s, very much so. then volatility at the 2008-2009 financial crisis. generally, it's been kept in a range that would seem well controll

is not a lake of death of a lake of deficit it is not the problem of italy if a lack of chess. means increasing there is increasing deficit with so if they tell you problems it's warm so how serious a crisis is this for three years requires a serious presence but i think markets will tell them you will not get finance if you if you have a huge deficit and you want to impress greece example i hope this situation is serious so you commission is doing so right drop in this well you tell us have said we are not giving in not let's wait let's wait and if they don't give in and there's no result we will see we will see i will not speculate but we will see i want to be done and i don't like to people like me i never like to people like mad for lead to trades i want to vomit to talk briefly about saudi arabia germany's decision to suspend arms to riyadh after the murder of the journalist jamal khashoggi. i was out on the lateral is ex excuse me not member of government i am president of the bundestag federal parliament. to list appropriate eyes duress like myself to commend any decisio

after eight months reuben's return to italy. as his reputation continued to grow so did his personal wealth. you need to keep in mind that rubens was a relatively well situated man when he was in italy he wasn't that young a penniless painter willing to starve for his art he was actually a wealthy man who travelled with companions and servants and who to the envy of some italian painters had ridden through rome on an equal footing with other noblemen giving. ruben's position gave him access to the leading art collections in italy. the rich and powerful furnished their residences with magnificent galleries like the trigona in the a feat see. contemporary art was displayed alongside works of antiquity. in his later paintings rubens would reference the pose of the famous medic civitas . part of his unparalleled skill lay in his ability to transform a vast variety of stylistic influences from classical to contemporary into a personal style that was new and original. the influence the moves if it's hard to overstate the influence of

in italy i saw work is exploited in africa farmers facing growing. for the past two years i've been collecting source's juices soups concentrates peel tomatoes and catch up from around the world the story i'm going to tell you is not simply about the canned food it's a story about the sometimes absurd nature of our globalized world. it's witness. and its losers the women than men who feed us all without ever seeing the fruits of their labor. running orders are orders. to discover how china produces its tomatoes i have to go on a long journey. three thousand kilometers from beijing in the west of china. to she . added. the province was incorporated into china in one nine hundred forty nine and was long inaccessible to foreigners. it is home to a muslim group or eagles who today are a minority in xing john. over time the region became populated by millions of han chinese the country's largest ethnic group. all at the initiative of beijing. it is a journey back in time. here many crops are still harvested by hand as was common in europe decades ago. you

martin, can we focus on italy? jonathan was making the case in terms of solving your debt problem, i'm just going to redraft that chart. the economy in italy is stagnating. it just agreed to .04% funding for the year in terms of the buffet jeff is it -- buffet -- budget deficit. what is that they to the european story yet the >> the good news is -- what does that do to the european story? >> italian stability is critically important. interesteddy that is in investing in italy. foreign investment money into purchasing bad loans. getting political stability back, getting the budget done, that's it -- that should see further inflow. getting european stability for the rest of the next 12 months, that will be the next step. that will depend on decisions that are made from across berlin, i'm across brussels, and in london. little more fiscal latitude may be the driver of 2019 versus 2018. you mentioned berlin. reflects a dax and an autode angst. six years of a winning streak has been busted. germany is under pressure. --

is not a lake of death of a lack of deficit it is not the problem of italy if a lack of this. means increasing there is increasing deficit would source it tell your problems it's warm so how serious a crisis is this for two years as well as a serious but i think markets will tell. you it will not get financed if you if you have a huge difference it and you want to increase your use to fix it you always have to find someone who is if your credit you have to pay a price and you see you can seize a spreads are increasing the space for i hope this situation is serious so you commission is doing so right job in this valley entirely and have said we are not giving in we're not going to be let's wait let's wait and if they don't give in and there's no result we will see i will not speculate but we will see i want to be done and i don't like to people like me i never like to people like mad for lead to raise i want if i may to talk briefly about saudi arabia germany's decision to suspend arms to riyadh after the murder of the journalist jamal khashoggi. i am not on the lateral is x. y

of a leg of deficit that is not the problem of italy if a lack of this. means increasing increasing deficit with sarsi tell you the problems. say how serious a crisis is this really is requires a serious but there's a but i think markets will tell. you will not get financed if you if you have a huge deficit and you want to increase your use to fix it you always have to find someone who is give you credit you have to pay a price and you see you can seize a spreads are increasing the spread so i agree zinc therefore i hope this situation is serious so you commission is doing so right job in this when the intelligence have said we are not giving in we're not swayed let's wait and see let's wait and if they don't give in and there's no result we will see i will not speculate but we will see. i want to be done and i don't like to people like me i never like to people like mad for lead to raise i want if i may to talk briefly about saudi arabia germany's decision to suspend arms sales to riyadh after the murder of the journalist jamal khashoggi. i was out on th

is not a lake of death of a leg of deficit it is not the bottom of italy if a leg of this. means increasing there's increasing deficit with source italian problems. so how serious a crisis is this for two years as well as a serious process like but i think markets will tell them you will not get financed if you if you have a huge defeat it and you want to increase your use to fix it you always have to find someone who is if your credit you have to pay a price and you see you can seize a spreads are increasing the spread so i agree zinc therefore i hope this situation is serious so you commission is doing so right job in this valley italians have said we are not giving in we are not maybe let's wait and see let's wait and if they don't give in and there's no result we will see i will not speculate but we will see i want to be done and i don't like to people like me i would never like to be blackmailed for luxuries i want if i may to talk briefly about saudi arabia germany's decision to suspend arms sales to riyadh after the murder of the journalist jamal khashoggi. i was out

the prime minister country men can do something good for italy. good bad they would be bad. but if the budget plan is not approved and italy is sanctioned by brussels that could trigger an early election in march investors believe that just might lead to a more stable government and italy's bond yields fell or early in the day as a result. now staying in europe a german firm has one access to the world's largest reserves of lithium the company a.c.i. systems will mind fifty thousand tons of lithium hydroxide a year from the uni soft and bolivia that's enough to fit one million cars with electric batteries the seventy year contract will be a partnership with the live in state owned company y l b and it's scheduled to begin in two thousand and twenty one less than one percent of the sol flat will be industrialised that's still around forty square kilometers spectacular landscape is already a huge tourist attraction and a major source of income for bolivia. over to india which has a new central bank chief shakti confidant has been appointed to the top job at the reserve bank of

it shows that italy is outperforming by quite a wide margin. this is bloomberg. ♪ anna: welcome back to the european open, we are 45 minutes into the trading day. oil is struggling to recover from the biggest three-day slump since 2016. annmarie hordern has got some charts for you to focus on. >> i have two charts that i think are very important. the first is looking at the oversold market. 7% yesterday, today falling below $47 a barrel. but it is in oversold territory, so why aren't we seeing a rebound? maybe it will remain in oversold for the whole month, that's one of the big questions we are looking at. the other one i want to talk about is the price of oil in the heart of the permian basin. it is trading below $40 a barrel , it has not been that low since 2015 when prices collapsed. money,roducers can make but when you are looking at the heart of the permian low 40, it is starting to get a bit troublesome if you are sitting in houston. matt: thanks very much. anna marie with a quick check on the disastrous price problem in the oil patch,

after eight months reuben's return to italy. as his reputation continued to grow so did his personal wealth. you need to keep in mind that rubens was a relatively well situated man when he was in italy he wasn't that young penniless painter willing to starve for his art that he was actually a wealthy man who travelled with companions and servants and who to the envy of some italian painters had ridden through rome on an equal footing with other noblemen get. ruben's position gave him access to the leading art collections in italy. the rich and powerful furnished their residences with magnificent galleries like the trigona in the a feat see. contemporary art was displayed alongside works of antiquity. in his later paintings rubens would reference the pose of the famous medic venus. part of his unparalleled skill in his ability to transform a vast variety of stylistic influences from classical to contemporary into a personal style that was new and original. the influence the moves if it's hard to overstate the influence of it earl

election in march and even more insecurity in italy citizens. and france of course of a compromise is in his government and the e.u. seems to be on the horizon that's good news for the euro is it not. it is absolutely good news for the euro and it's also good for italy's reputation on the financial markets you know get hard when we talk about italy and its debt the focus is always on lost spread that's what italians call the spread between the yield on italian government bonds and on german government bonds and this spread has narrowed significantly the yield on italian government bonds has come down significantly due to this perspective on a compromise clearly investors seeing a less of a risk in investing in italian assets. talking about the euro the e.c.b. is expected to end its super lose monetary policy today or the announcing that they will end the markets prepared for that. yes they are the talk about this has been going on for a very very long time and you know. the e.c.b. is not ending its super lose one of terry policy in one moment it

after eight months reuben's return to italy. as his reputation continued to grow so did his personal wealth. you need to keep in mind that rubens was a relatively well situated man when he was in italy he wasn't that young a penniless painter willing to starve for his art he was actually a wealthy man who travelled with companions and servants and who to the envy of some italian painters had ridden through rome on an equal footing with other noblemen giving. ruben's position gave him access to the leading art collections in italy. the rich and powerful furnished their residences with magnificent galleries like the tree in the feet see. contemporary art was displayed alongside works of antiquity. in his later paintings rubens would reference the pose of the famous medics civitas. part of his own parallel skill in his ability to transform a vast variety of stylistic influences from classical to contemporary into a personal style that was new and original. the influence of the moves if you it's hard to overstate the influence of it

italy has seen a building italy's future. italy has seen a surge building italy's future. italy has seen a surge in racist attacks since the far rightly, an antiestablishment five star movement took office in april. sergio mattarella's league party has increased in popularity. some argue his tough stand on immigration has also fuelled anti—migrant hostility. translation: these latest policy changes in italy generate more discrimination, distress, and difficulties. while we believe we can come exist with all those who wa nt can come exist with all those who want a better life, a better world, whatever their colour or origin. translation: we did not come here just to walk around, but because we have raged within us, rage for socialjustice, first for social justice. that is why we are in rome, to say no to these racist policies. in recent weeks italy passed the new law making it easier to deport migrants and stripped them of italian citizenship. legislation the united nations refugee agency warns does not provide adequate guarantees, particularly when it comes to vulnerable

election in march and even more insecurity in italy citizens. in frankfurt court of a compromise is in his government and the e.u. seems to be on the horizon that's good news for the euro is it not it is absolutely good news for the euro and it's also good for italy's reputation on the financial markets you know get hot when we talk about italy added stet the focus is always on last spread that's what italians call the spread between the yield on italian government bonds and on german government bonds and this spread has narrowed significantly the yield on italian government bonds has come down significantly due to this perspective on a compromise clearly investors seeing a less of a risk in investing in italian assets. talking about the euro the e.c.b. is expected to end its super lose monetary policy today or at least announcing that they will end the markets prepared for that. yes they are the talk about this has been going on for a look very very long time and you know get hot the e.c.b. is not ending its super lose one of terry policy in on

is not a lake of death of a lake of deficit it is not support of italy if a lack of this. means increasing there is increasing deficit with source italian problems. say how serious a crisis is this requires a serious presence but i think markets will tell. you it will not get financed if you if you have a huge deficit and you want to increase your use to fix it you always have to find someone who is give you credit you have to pay a price and you see you can seize or spreads are increasing the spreads greece example i hope this situation is serious so you commission is doing so right job in this when the intelligence have said we are not giving in not be let's wait and see let's wait and if they don't give in and there's no result we will see i will not speculate but we will see i want to be done and i don't like to people like me i would never like to be blackmailed for lead to raise i want if i may to talk briefly about saudi arabia germany's decision to suspend arms to riyadh after the murder of the journalist jamal khashoggi. i was out on the lateral is x. years me and

in 1417, the papacy has been split between france and italy for 40 years. but after the devastation of the plague pope martin v reunites the church and begins to rebuild the once-great institution in the once-thriving city of rome. >> it was with the return of the papacy to rome that its heart began to beat again and it started to grow and to function as the center of the western church. and that was when the renaissance really kicked in. >> very gradually as europe climbs back into economic activity, you start to see a class emerge within w enough money to have aspirations to buy things. luxury comes back on the scene. >> narrator: as a merchant class begins to rise, europe ushers in an era of evolutionary advancements in art and science. explorers set out in search of new lands. the first mechanical clock and the guttenberg printing press are invented. >> and on the walls of the churches, you start see for the first time that when human beings appear, they're not just tiny. man is standing a little closer next to god. >> narrator: and the man closest to g

brent: do you see italy having a special responsibility here? we are always talked about the mafia coming from italy. is that an accurate depiction? giulia: i wouldn't say so, first of all because some of these people were born in germany, so the we are talking about second or third generation germans. and also because germany host the responsibility in a sense to improve -- i would not see it as a national oriented thing, is more opportunity. brent: guilia norberti, we appreciate your time tonight. here are some of the other stories making headlines around the world. the french government is facing more protests across the country. students are due to demonstrate on thuhuday. the government tonight responded to the nationwide unrest by abandoning a fuel tax increasase it had previously only suspended the e hike for six months. been tomorrow may spend a second day debating from mr. theresa may's exit plan. european union officials say therere can be no significacant changeges to the deal l they hae already approved. mais government has finally p

but it's not just italy. it is what is going on in france and in germany i think this as we move into these elections, you're right. we're likely to see a lot more anti-brussels establishment rhetoric i'm not sure that markets are going to just look through that. i think we have to price in something for an outcome which might be more hostile than we're used to. >> switching gears to the uk your base case scenario continues to be that we'll see resolution eventually. what does this mean for rates and sterling for 2019 given we're now looking at a situation where the uncertainty may continue well into q-2 of next year at the very earliest? >> it's true i think one helpful way of thinking about this is to think about what would you be doing if you were sitting on the mpc of the bank of england? not that i will ever be. >> there's your pitch. >> exactly what would they be thinking? the answer is assume that we get withdrawal agreement which is fairly smooth. then we're a bit behind with rate hikes the uk economy

budget deficit limits next yaz president has to finance his promises to the yellow vests italy appears to be. making a deal with brussels. and flying cars are becoming a thing yes really to combat gridlock in cities the idea is slowly gaining in currency and fund. this is eat up your business i'm getting out of his welcome the corruption scandal surrounding the state fund one m.g.b. continues to intensify malaysia said on monday it has filed criminal charges against us investment bank goldman sachs and to former employees goldman has been under scrutiny for its role in helping raise six point five billion dollars in three bond offerings for one malaysia development and giving kickbacks to malaysian officials in total almost half of the money is said to have been embezzled from the from. i'll talk into underwear hang in singapore our correspondent there malaysia see small than three billion dollars in criminal fines that's a loss even for a player like goldman sachs but how big is the reputational damage. well this damage is rather extensive this is going to hit capital markets and acco

is not a lake of death of a lake of deficit it is not the problem of italy if a lack of this. means increasing there is increasing diffuse it would source it tell you of problems. so how serious a crisis is this for three years requires a serious but i say but i think markets will tell. you it will not get financed if you if you have a huge deficit and you want to increase your you'd still visit you always have to find someone who is give you credit you have to pay a price and you see you can seize a spreads are increasing the spreads grazing therefore i hope this situation is serious so you commission is doing so right job in this when you have said we are not giving in we are not swayed let's wait and see let's wait and if they don't give in and there is no result we will see i will not speculate but we will see i want to be done and i don't like to people like me i never like to people like mad for lead to raise i want if i may to talk briefly about saudi arabia and germany's decision to suspend arms sales to riyadh after the murder of the journalist jamal khashoggi. i was

is not a lake of death of a lake of deficit it is not the problem of italy if a lack of this. means increasing there is increasing deficit with source italian problems. so how serious a crisis is this for three years requires a serious process like but i think markets will tell. you it will not get financed if you if you have a huge deficit and you want to increase your you'd still visit you always have to find someone who is give you credit you have to pay a price and you see you can see the spreads are increasing the spread so i agree zinc therefore i hope this situation is serious so you commission is doing so right drop in this when you tell us have said we are not giving in we're not maybe let's wait and let's wait and if they don't give in and there's no result we will see we will see i will not speculate but we will see i want to be done and i don't like to people like me i would never like to people like me for luxuries i want if i may to talk briefly about saudi arabia germany's decision to suspend arms sales to riyadh after the murder of the journalist jamal khashogg

the worst case should not you know i think is a disintegration of europe italy the economy. companies need europe more europe not less money. but also more conserve about we need to manage it we can reduce the problem. and just north of penance interviews where the region's largest companies operate it seems the bigger the business the bigger the warri. go who runs a packaging company says entrepreneurs here have lost faith in italy as political leaders across party lines. to people who i think we all have the same concern. this is a government that governs badly. they would bring prosperity they were to increase productivity. psagot believes both governing parties are more interested in their own political q just and success at the ballot box and the country's economy. this government has no ideas and has no long term objectives. there are only focused on the here and now and increasing the support. for. the net as businesses are hoping an agreement can be reached one that satisfies both rome and brussels and is effective in boosting economic growth for the sake of italy's

election in march and even more insecurity in italy citizens. in frankfurt a compromise is in his government and the e.u. seems to be on the horizon that's good news for the euro is it not it is absolutely good news for the euro and it's also good for italy's reputation on the financial markets you know get hard when we talk about italy added stet the focus is always on last spread that's what italians call the spread between the yield on italian government bonds and on german government bonds and this spread has narrowed significantly the yield on italian government bonds has come down significantly due to this perspective on a compromise clearly investors seeing a less of a risk in investing in italian assets. talking about the euro the e.c.b. is expected to end its super loose monetary policy today or at least announcing that they will end the markets prepared for that. yes they are the talk about this has been going on for a very very long time and you know get hot the e.c.b. is not ending its super lose want to terry policy in one moment it

in italy i saw work is exploited in africa pharmacies facing growing. for the past two years i've been collecting sources juices soups concentrates peel tomatoes and catch up from around the world the story i'm going to tell you is not simply about the canned food it's a story about the sometimes absurd nature of aa globalized world. it's witness. and it's loses the women than men who feed us all without ever seeing the fruits of their labor. or. to discover how china produces its tomatoes i have to go on a long journey. three thousand kilometers from beijing in the west of china. to she . learned. the province was incorporated into china in one nine hundred forty nine and was long inaccessible to foreigners. it is home to a muslim group or eagles who today are a minority. over time the region became populated by millions of han chinese the country's largest ethnic group. all at the initiative of beijing. it is a journey back in time. here many crops are still harvested by hand as was common in europe decades ago. you know. there are no was. no you. do.

is not a lake of death of a lake of deficit it is not the problem of italy if a lack of this. means increasing there is increasing difference it would source it tell you the problems. say how serious a crisis is this was a serious but but i think markets will tell them you will not get finance if you if you have a huge deficit and you want to increase your use to fix it you always have to find someone who is if your credit you have to pay a price and you see you can seize a spreads are increasing the spreads i agree six or four i hope this situation is serious so you commission is doing so right job in this when the intelligence have said we are not giving in we are not swayed let's wait and see let's wait and if they don't give in and there's no result we will see i will not speculate but we will see i want to be done and i don't like to people like me i would never like to people like mitt led to raise i want if i may to talk briefly about saudi arabia and germany his decision to suspend arms sales to riyadh after the murder of the journalist jamal khashoggi. i was out on th

of a lack of deficit is not the problem of italy if a lack of yes as i said means increasing there is increasing deficit with source italian problems. so how serious a crisis is this for two years as well as a serious process like but i think markets will tell them you will not get financed if you if you have a huge deficit and you want to increase your you'd still visit you always have to find someone who is give you credit you have to pay a price and you see you can see spreads are increasing the spend greece example i hope this situation is serious so you commission is doing so right drop in this when the intelligence have said we are not giving in we are not going to be let's wait and see let's wait and if they don't give in and there is no result we will see i will not speculate but we will say. i want to be done and i don't like to people like me i would never like to be blackmailed for lead to raise i want to vomit to talk briefly about saudi arabia germany's decision to suspend arms sales to riyadh after the murder of the journalist jamal khashoggi. i was out on the lateral is

these seem to gratian of europe italy the economy the. companies need europe more europe not less money. but also more server about we need to manage it we need to reduce the problem. and just north of tennis interviews own where the region's largest companies operate it seems the bigger the business the bigger the warri. go who runs a packaging company says entrepreneurs here have lost faith in italy's political leaders across party lines. to people i think we all have the same concern. this is a government that governs badly. they would bring prosperity they were to increase productivity. psagot believes both governing parties are more interested in their own political future and success at the ballot box than the country's economy. this government has no clear ideas and has no long term objectives. there are only focused on the here and now and increasing the support. for. the net as businesses are hoping and agreement can be reached one that satisfies both rome and brussels and is effective in boosting economic growth for the sake of

prime minister country men could do something good for italy. good bad they were going to die. but if the budget plan is not approved and italy is sanctioned by processes that could trigger an early election in march investors believe that just might lead to a more stable government and italy's barn year old fellow early in the day as a result. let's go to south asia now and india has a new central bank chief shakti confidant has been appointed to the top job at the reserve bank of india that after the abrupt departure of patel on monday patel cited personal reasons but his resignation follows serious disagreements with the government over monetary policy now that's part of a trend that has economists worried as an increasing number of governments the world over interfere with their central banks which are supposed to be independent of the us federal reserve the bank of england the european central bank the world of central banks are some of the most powerful institutions there all snow allowing them to adjust interest rates inflation print money i'm sure up the economy they us

i think italy is in recession, even if just technical. as much as everyone has been focused on the deficit, growth is just as important. if italy is not growing, it's debt burden is unsustainable. even though the government has caved, it remains a risk. we have some sense of how this government will respond to pressure, which is it will of thethe greek example government pushing to the edge and capitulating when they have to. i do not think this is the last time markets will put pressure on italy. francine: we are seeing the prime minister still speaking where he is taking questions on the tax. what is the prescription for the economy? likely it could fall into recession. what do they need? unfortunately, i think there have been labor market reforms but they have not gone far enough in terms of liberalizing the labor market. am -- trying to free those up to help the economy. those are not short-term issues. i think the economy is in for a rough ride if you consider the rest of europe is slowing down. the ecb is no longer buying up assets.

in italy, you ask that question. we still see concerns in italy, mainly that growth is not strong enough. -- 0.6% growth next year, significantly lower than what the italian government is assuming. near-term in italy, things will improve towards the second half of next year. matt: steven, thanks so much for your time. really appreciate it. steven coming to us on a day where we see some pretty extreme market moves. let's continue to talk about what's going on in paris. let's go to greg viscusi there, our reporter on the bound -- on the ground. what is the next step to quell these protests? will it have to meet demands? greg: that's the big question. with the prime minister's doing today, he's meeting with all the parties. he will be talking about what they suggest. then he's supposed to meet the leaders of the yellow vest movement. the problem is, there are no leaders. every attempt to create some kind of a committee to sort of bring some structure to the other vest movement gets rejected by part of the base. there ar