is europe so fragile?” governments. are you serious about that? is europe so fragile? i think the post—world war ii order was put into question and we are going through a loss of turbulence and i think that brexit is 1 of the symptoms —— lot of. other problems europe is going through. and there are quitea europe is going through. and there are quite a pupil at egel parties on the european continent whose political agenda is to leave the european union is make quite a lot of political parties will stop when we are having a conversation about anti—semitism and you choose to alight on politics and you make reference to a particular phenomenon in the united kingdom we know as brexit, surely you are making a very dangerous and unwarranted association between a political movement, which, you know, is driven toa movement, which, you know, is driven to a certain extent by a form of nationalism, and then, at the other end of your spectrum, anti—semitism. and you clearly associate the 2 things or is it not extremely serious in its own way? nationalism does not always b

dk it for closer ties with europe, andi dk it for closer ties with europe, and i have to say actually it has got lots of different articles throughout the paper. —— softer brexit, closer ties with europe. yesterday, when i was at westminster, people were telling me that the plan was rejected this week was possibly the hardest... since we're talking about brexit, we just lost about half a million viewers. cani lost about half a million viewers. can ijust lost about half a million viewers. can i just be lost about half a million viewers. can ijust be the

is this is about europe do you pull a logic on a me out of europe a major political player out of europe europe's weaker so this is why if we can find a way and there's a letter recently from german politicians that was actually very helpful very sensible letter. signed by you know the leaders of some of the main parties in germany this is this is what we need to do we need to realise both of us europeans british our future should be together. and that was the former prime minister of britain tony blair speaking earlier to detail these been physical and in davos so the business world is watching what's happening at davos let's go to our correspondent yes korda in new york where markets are reacting in part to news from that meeting and talking of course about the i.m.f. lowering its growth projection and warning of a slowdown how are markets reacting to this news from the i.m.f. well we certainly is soul wall street trading lower on huge because of the martin luther king day holiday on monday wall street to catch up with the reason news flow and that the i.m.f. is lowering the projection

all of the different realities of europe and pushing it in the same direction. in the franco german history quite often there have been well. conflicts this irritation. was one of the neighbors of the french and the german particularly the smaller ones suffer it a lot. but the prospect that this will never happen again gives the necessary karma. and rest from the continent for it to flourish and so on franco german french it is the guarantor of the peaceful future of europe and when the french and the germans share this friendship as they do with that. as long live franco german friendship thank you thank you very much of a b. . b. thank you younger european commission president praising the course work what it's been doing for people of europe are necessary as this is the there appears special coverage of the signing of the new treaty and as it's been called when france and germany deepening a friendship. the two countries and making for a number of new policy inroads in the areas especially security and foreign banks. and we have our correspondents on site the

europe is floundering. while some americans seem to delight in this prospect it is, in fact, bad for america, bad for its interests, bad for its values. for more go to cnn.com/fareed and read my washington post column this week. let's get started. let's now focus in on brexit and its implications. we have a special guest, tony blair. mr. blair served for more than years as prime minister of the united kingdom. he's been an outspoken critic. he joins me from london. tony, pleasure to have you on. >> thanks. >> refrom the start you've been opposed to it. let am ask you just at the fundamental level, your case for it because it does seem to subvert the democratic process, doesn't it? the electorate had a chance to vote on brexit and there wasn't meant to be a do-over. >> that's correct. we've had 30 months of negotiation. the deal the government has been presented has been voted down heavily. parliament is gridlocked. there are many different versions of brexit. frankly, our knowledge of what brexit really mea

trust in europe's politicians. remains unwavering even if i can see that they're struggling for the for europe's future i am worried that fewer and fewer people understand the idea of european integration which was to rescue the nation state in europe rather than destroyed the image. for the future of europe i hope that's as good europeans will succeed in joining forces with and see that they will only find international recognition as one. that. many thanks to my pleasure. and that's this week's sunday night's. visit with the legendary ladies' man the casanova newseum in venice. ten with the fuckings demands a page of sides and down the back of. a day the oldest restaurant in the world the sabrina to the teen imagery. your mother's next on the d w. cover. this time sours it up on the jimmy cuban music legend idol better the other but this. can reveal is why he doesn't really like salsa another secrets on. school dug. out of. discover a good concept discover it with the bulk. of school. budget off to one hundred ye

all i see is division in europe and i cannot rememberwho division in europe and i cannot remember who penned that expression, i'io remember who penned that expression, no system are —— narcissism of small differences. i'm quite as mystic i'iow. differences. i'm quite as mystic now. brexit isjust one of many problems that britain and europe, i do not think the should to sing wish them, we are all in this together. if the picture agnes paints but europe is right, if i was an mp that would strengthen my resolve to leave the european union and stay with brexit because in the end muddling through as britain might be the most sta ble through as britain might be the most stable country in this turmoil. looking at the timetable to remember that the negotiation of the relationship that the uk will have with europe lies ahead. there is ple nty of with europe lies ahead. there is plenty of flexible tea in that and that negotiations is going to take place during the period when europe is being recast eyes on elections. it isa is being recast eyes on elections. it is a moving target, indeed. w

nationalist parties in europe we have in fall month a very important in action in europe for the usual european parliament and probably with a stronger for coming from the right wing parties and the is also just at the moment when kountry of the european union great britain is about to leave. european union at the moment where they are a lot. forces in the european union. criticizing quite strongly europe that dare is also another muslim moralist that two countries can have very tense relations and. able to make proposals for the future of the european union you know you mentioned britain and its departure. it doesn't create an existential crisis for the e.u. but it does have major military consequences this take a listen to what german chancellor angela merkel said about that today i ended with the nuns we combine them as part of our joint system of collective security we germany and france pledge in the event of an attack on our respective territories to give each other all the help and support we can. and that includes military assistance of youth maybe table should i mean that remi

that cold air will filter to south—east europe. for now, high pressure keeping that fun away from the uk and we have got a cold and frosty start on wednesday. most areas will have some sunshine. but this cloud coming down the north sea could produce some showers across lincolnshire and norfolk. but it should be largely dry. temperatures between three and seven celsius. heading into wednesday night, we are going to keep the clear conditions across most parts and with the winds staying light it is the recipe for a sharp frost. in the countryside it could be down to minus eight degrees. in towns and cities minus fourin degrees. in towns and cities minus four in aberdeen and newcastle. 0ur weather isn't going to change much over the next few days. the reason is the jet stream is taking this large pattern and when we get these big waves in the jet stream, they don't move very far and we get the weather stuck near the earth's surface and the high pressure we have won't shift around any time $0011. have won't shift around any time soon. s

of his proposals for europe couldn't be. couldn't because with the resistance of germany and merkel is. and the phase of his power probably but she's still the republican and afterwards after america yeah. to find your allies it's difficult where should eat find east europe probably not in the cells. spain maybe. but it's it's something of course a for and traditional agenda live but i think it would it would also work after malcolm ok our chief political correspondent in a grain and with a rodeo fronts it's not there now to both of you thank you thank. the british and broadcasting royalty were on stage today in davos switzerland at the world economic forum before a standing room only crowd the duke of cambridge interviewed veteran broadcaster sir david attenborough the topic of humanity's threat to the climate to the planet and to itself david recently your opponent is very powerful of the un climate change conference that sort of how urgent is that crisis now. it's difficult to overstate it. we know soon numerous so. so wi

above all i would say that i learned that viewed from outside of europe you know europe seems to be much more of an entity. from the chinese perspective europeans are relevant as the e.u. but otherwise they're small fry to be dealt with if necessary but not because their respective. the same is true for the middle eastern perspective. and i was in my israeli classes i had students from the economics department of the foreign office who know everything about the e.u.'s external trade policy but not much about the logic behind political integration. nor could they answer this question which is also very difficult for europeans. how can very different states with a different past and different historical baggage to tie their political fates together and conduct politics on a daily basis and. put it take mom. you would rise politicians and economists you can follow the thought patterns advise them in conflict resolution why do you not become a politician yourself with. being a politician and advising politicians are two very different thanks. voters have to give politicians a mandate well ad

those polls are expected to see a further rise of the populist right across europe an angle americal is set to feel those effects back home. here in germany the f.t. publicly closed ranks with a rightwing extremist during street protests in the eastern city of candidates last summer united by a determination to end the magical era the populist movement in germany make gain new momentum. with three eastern states going to the polls this coming all term the f.t. will have to prove whether it can become the strongest political force in any of these states. if the far right are targeted for germany manages to replicate its general election results from twenty seventeen it could become the strongest political force in saxony a defeat for the c.d.u. and yet more state elections would also be seen as a rebuke for chancellor merkel's leadership. all of those factors will also play a role in the half time assessment of the coalition partner of angle america's government the social democrats wrote an exit clause into their coalition deal if they trigger that anger machall could crash out of he

europe isn't america the interests of the anti establishment parties in europe quite divergence the panel will not succeed in food being an alliance of the like minded for the european elections same with the last segment of the czech president your i we didn't want to live in a club is a worldwide club it is true that the first battle grant of first but the ground will be will be europe where the battle is being conducted and i want to tell you. i'm afraid that you're information or data that you know for one very important thing because it's true that poland came with was this because they didn't know exactly what was the movement but i can tell you meantime we are so many meetings from people with the it's a question of time before they will come of it to the meeting means that there's not a that's a good sales technique no no that's certainly a man it's only a matter of time you don't know you got what i thought about the last segment he turned useful down flat. with mr simmons the project for the czech president the problem is that it focused immediately on a totally different issue

europe migration. to have with us on our top stories the u.s. president has visited the country's southern border in a bid to drum up support for his proposed war with mexico. five point seven billion dollars for the war has led to a partial government shutdown for almost three weeks. but u.s. secretary of state has called on the arab world against obama speaking and he blames the obama administration for much of the region's troubles. and the influential catholic church and democratic republic of congo says the official presidential election results don't match the tallies of thousands of observers the national electoral commission has declared opposition candidates feeling the one. it is one hundred days and. was murdered in the kingdom's consulate in istanbul people have been gathering outside the mission to remember him and continue to ask questions about the murda child reports from istanbul. video just a few seconds long yes it's helped uncover a murder prompts hatched by one of the world's richest governments one hundred days have passed

we have the rise of the fascist and neofascist right wing right across europe. we have austria, italy, and neofascist running their governments now. our appeal to our european counterparts was austerity, which is crippling the whole of europe including britain, needs to be changed, otherwise people will look for... if you are suggesting that the political colour of the eu is increasingly right and centre right and antipathetic to the interests of the labour movement and you are also telling me that you see no sign of the eu prepared to take on what you would regard as necessary reform , we come back to this point, and jeremy corbyn put it in a guardian interview recently where he said "i do not want to be told by somebody else," meaning the eu, "that we can not use state aid in order to develop industry in this country." so why not be honest and say you know what? we are done with the eu. it is overfor us. obviously we have had a referendum result that tells us we are done with the eu and we are coming out from it. we very rarely have referendums. referendums ar

above all i would say that i learned that viewed from outside of europe of europe seems to be much more of an entity. from the chinese perspective europeans are relevant as the e.u. but otherwise they're small fry to be dealt with if necessary but not because they're respected at the same is true for the middle eastern perspective. and i was in my israeli classes i had students from the economics department of the foreign office who know everything about the e.u.'s external trade policy but not much about the logic behind political integration. nor could they answer this question you know which is also very difficult for europeans can tip how can very different states with a different past and different historical baggage to tie their political fates together and conduct politics on a daily basis and. put it to mom. you would vice politicians and economists you can follow the thought patterns advise them in conflict resolution what do you not become a politician yourself. think about it being a politician and advising politicians are two very different things. voters have to give politi

it is notjust single men like zakariya leaving europe. it is families with young children, some of them born in germany. i wondered why they had decided to take a child to a war zone. mohammed has just arrived from germany with his pregnant wife and seven children. zakariya and the other syrians now face a five—hourjourney up to the border. it's the last stop before they cross on foot out of europe and into turkey. i'm really surprised to see just how many syrians are making this journey. this bus is completely packed with people and families, and i have spoken to some of them who are too afraid to speak on camera. they are going back for many reasons, some of them because they cannot bring theirfamilies over, some of them who are really disappointed with europe and so afraid of raising their children in a foreign land. spending time with the families on this coach, i begin to understand that not everyone was unhappy in europe. some just wanted to be reunited with theirfamilies, no matter what the risk. under the cover of darkness, the

by passing the law has helped europe move its most southern border right into africa. in return for managing migration new share is rewarded by europe with lots of development aid and if successful this is a model that could be exported to other countries around the world so we've come here to find out how it works. for centuries the city of ideas has been the gateway into the sun harra. caravans departed from here and the one nine hundred eighty s. saw a boom in tourism until a series of travel the belgians turned the region into a no go area. with the so-called migrant crisis in twenty fifteen are there started making global headlines once more three quarters of all migrants and asylum seekers who reach detail in coastline made the journey from the share. desperate to stem the flow to europe struck a deal with libya's coast guard to deter migrants from going to sea. with the introduction of the new jerry an anti trafficking law migrants and refugees was stopped even further away from europe shores. we have come to see more about me more subtle to find out what effect

meanwhile in europe, ibm helped to wake europe's slumbering corporate bond market. the region's biggest sales since march. the company sold its largest eurobond deal ever. and spain got record orders, about $53 billion in the 10-year sovereign bond sale. investors clamoring for that extra yield by periphery euro area debt. while i am at the desk in new york this week, of course, jonathan ferro, he was out with tom keene at the world economic forum in davos, switzerland. they caught up with guggenheim's cio scott minard to ask him about the leveraged loan market in 2019. scott: i think it gets even worse. when you look at last year and you see the incremental issuance of new leveraged loans versus the incremental issuance of clo's, they basically, all the new incremental supply of loans, clo's, those people in many cases have sold the risk away. so, all they are looking for is to get the assets so they can charge -- just said there was a 2007, 2008 memory. they sold the risk away. are you suggesting we will fold ourselves into another 2008, 2009 set of events, nonseq

in europe. and i believe it's a very ill—judged attempt and is not going to bring anything positive. because what is the point of having a middle east summit in warsaw without the european union and without the main, major european countries? what's the answer that question? i get the impression that the polls would rather they have the summit somewhere else. they are more worried about russia than they are about iran. poland would rather have the summit somewhere else. they want the americans to build a big military base on polish soil. but, yes, i mean, we're at the third birthday of the nuclear deal. it took ten years to negotiate. america has been out of it now for a year. the whole thing is on life support, a lot of european companies have been leaving in droves, there are still a few hanging in there. but if you're told by trump, you ain't going to do business with the us if you do business with iran, of course you're going to go. they are trying to split up european partners and it is r

but what it is the rest of europe and looking at this what do we make of it really understand the know what's going on are they just exasperated or would be really late so in claim to wards of the range i don't i think you really should ask mr barney a and the european to go see mr young i think they are sensible people but mr by only for example the french cost brought up in a pretty hard political school commission says if only they would tell us what they want it's the nearest i've ever seen to that particular political inclination come to almost compassion. but please go to the state is actually feeling a bit sorry for the british to go shit i think he's in ash moment of nash is becoming a moment of nash. no embarrassments the failure to grab a key here and position i said that's why i supported mrs may's deal i mean she struck a deal with europe she went back to her party which refused to back it and now what we're seeing is a very. desperate last minute attempt to to reach some form of some of the some way of resolving it within the conservative party the underlying threat is and

strong words on brags that from one of europe's top business leaders their bus c.e.o. tom enders lashes out of breath the tears he says are threatening thousands of air bus jobs in britain ender's says there are plenty of other countries who want to be build aircraft components. and slumping economies an ongoing trade dispute and don't forget brags that the global elite and davos may want to talk about the economy of tomorrow but the problems of right now keep getting in the way. i'm stephen beard's in berlin thanks for joining us airbus boss tom enders had strong words today about what britain's divorce from the e.u. could do to his firm that in a video message to employees and are said that if the two sides can't come to terms that is if a no deal brags it does take place the aircraft manufacturer could withdraw its operations from great britain have a listen. brics it is frightening to destroy a century of development based on education research and human capital it was a no deal breaker we have there both will have to make potentially very harmful decisions for u.k

approach which was to support a united europe because of course a lot of u.s. blood and treasure has been spent fighting wars in europe to try and settle differences there and that the long the long game has always been from washington to try and keep europe united and david we've got about twenty seconds i have to ask you do you. to resume a g going to let this vote on the brakes with your plane take place in parliament later this month. yes press. has to take place this month and it just in a couple of weeks i think it's be politically extremely damaging to delay it yet again last time it nearly cost her her job of course although she is nominally safe for another year having lost having one no confidence vote it would it would be politically the end of her if she's not able to bring her deal to parliament now we think that she will probably lose but she's trying to narrow that loss and perhaps bring it back again if she does lose in a slightly moderated form you know well we would have was you would have a bit of will we not but sure david jordan joining us

europe isn't america the interests of the anti establishment parties in europe are quite divergent as the panel will not succeed in food being an alliance of the like minded for the european elections same with the last segment of the czech presently i we didn't want to live in a club is a worldwide club it is true that the first battleground of first but the ground will be will be europe where the battle is being conducted and i want to tell you. i'm afraid that you're information or data you know for one very important thing it's true that poland came with was this because they didn't know exactly what was the movement but i can tell you meantime we're so many meetings from people with the it's a question of time before they will come to the meeting means that there's not a that's a good sales technique no no that's only a monk it's only a matter of time you don't know you got what i thought about the last segment he turned useful down flat didn't he was medicine man the project for the czech president the problem is that it focused immediately on a totally different issue from from

in europe, not only was there the physical damage from world war ii still remaining, but europe went through a couple of the worst winters in record. and people were -- there were a lot of people who were starving in europe. but there was a lot of political unrest as well. so the fear became, in the united states, on the part of the truman administration, the fear became we have to do something to help europe out, help these countries of europe out, so that they don't fall to the threat of political instability or communism. the truman administration response to the challenges in europe really took two forms. it became the policy of the government to support countries that were having difficulties and that started with what we call the truman doctrine. it was based on a speech that truman gave in 1947. >> if we fumble in our leadership, we may endanger the peace of the world. and we shall surely endanger the welfare of this nation. great responsibilities have been placed upon us by the swift movement of events. i am confident that the congress will face these responsibilities squarel

while in europe obviously there's a close finish the between china and europe but i think that the pace of innovation in china is something that europe is very aware of and sixty one percent of european companies point to the innovation in china is something that they're concerned about not necessarily the slowing down of the chinese economy why concerted i mean are the chinese going to be setting the standard soon well i think when you look at the world of artificial intelligence in the world of innovation china has some differentiating factors it has no shortage of capital it hasn't a homogeneous and extremely young population and a willingness to try technology at levels that perhaps we're not so open to in the west but they're still coming up against some hurdles the how to make a while way for example is having a terrible time right now to put it plainly and yes i mean i think all companies all of us have to understand that no matter what economy we operate in no matter what jurisdiction we operate in we have to operate within the let's just framework of that environment in order t

europe's most popular country still. far out in front of these frogs finest places the most beautiful region called in all its many faces. of europe presenting this week. on. your. moments on asked w. o five. hang in there is more surveys in india is in the convent he said is running out of breath the glance in recent years has created the most a crisis the city needs sustainable solutions and money. to resign and ancient tradition. with. sixty minutes on g.w. . county to. discover your concept discover it with powerhouse. school. after one hundred gives the ideals of the bomb house more relevant today than they were the. years ago. shapes seems to calm the ball of people in as a way of shaping society. with ideas. powerhouse world this week on t w. what about the. are there welcome so off i know you're a mix special of the week we've been showcasing europe's top tourist destinations and today we're off to explore france is what's coming up.

ibm with in europe, europe's corporate bond market with the region's biggest sales since march. the compass on its largest europe bond deal ever. aboutw record quarter is $53 billion in the tenure sovereign bond sale. investors clamoring for that extra yield offered by periphery. and while i man the desk in new york, jon ferro, he was out at the world economic forum in davos, switzerland. they caught up with guggenheim partners scott and ask him about the leveraged loan market in 2019. >> i think it gets even worse. when you look at last year and you see the incremental insurance -- issuance of versus the incremental issuance of -- thoseey basically people in many cases have sold the risk away. all they are looking for is to get the assets. 7 on you just said is a note oh -- is an 07 08 river ridge. -- are yougests suggesting we are going to phone ourselves into a nonsequential, nonlinear event like we did then? >> i think so. i think it will be hopefully not nearly as extreme but let's be careful relative to the subprime markets, the seal a is much smaller and it's largely -- >

what is the view of europe? it is one of sadness and exasperation but also deep concern as time goes by and the deadline comes. i want to ask isabel, the only brit around the table. we have the last—minute campaign by the prime minister, we have some of her cabinet ministers talking about a surge of far right extremism if the bill does not go through. is that a fear or a sensible reminder of the least worst option? if you remember some weeks ago we had a people's march of 700,000 i want to ask isabel, the only brit around the table. we have the last—minute campaign by the prime minister, we have some of her cabinet ministers talking about a surge of far right extremism if the bill does not go through. is that a fear or a sensible reminder of the least worst option? if you remember some weeks ago we had a people's march of 700,000 people and we had a brexit march of 2500. the far right does not have the numbers and i think it is disgraceful to see cabinet ministers saying we will break your windows if you do

approach which was to support a united europe because of course a lot of u.s. blood and treasure has been spent fighting wars in europe to try and settle differences there and that the long the long game has always been from washington to try and keep europe united and david we've got about twenty seconds i have to ask you do you. to resume a g going to what this vote on the bridge withdrawal plan take place in parliament later this month. yes breath. has to take place. this month and it just in a couple of weeks i think it's be politically extremely damaging to delay it and yet again last time it nearly cost her her job of course although she is nominally safe for another year having lost having one no confidence vote it would it would be politically the end of her if she's not able to bring her deal to parliament now we think that she will probably lose but she's trying to narrow that loss and perhaps bring it back again if she does lose in a slightly moderated form you know well you would have was you would have a bit of little bit for sure david jordan join

located in the heart of europe you are connected to the whole world. experience outstanding shopping and dining offers and try our services. be our guest at frankfurt airport city managed by from. but a bit of. this is news live from. the german bund as top honors the victims of the nazi regime. in a ceremony featuring music banned by the nazis lawmakers heard an emotional keynote address from a holocaust survivor and his story and friedlander he warned against surgeons of anti semitism and asks germans to remain vigilant.

any enthusiasm for europe's we are in tears for europe and also for standing up for europe and working for you in view of the long period of rivalry and enmity between. two countries it is not a matter of course that we come here together on this occasion and that is something that we ought to remember every time when the horrors of the national socialism brought. war over the whole here and later on there was a friendship reconciliation found it something that has taken deep roots in the societies of two countries history took a turn that could not have been happy for us as a nation we remember the far sightedness and also the determination in our shadow cool and cannot add now they pushed this momentum forward by signing the illicit treaty and we remember many other courageous politicians and those who were thinking ahead and who stood up resolutely for franco german and french. mention valley she's got it. and actually like to mention but a few but even more important and just as important as the many mayors and the many who are responsible for the academic. exchange programs the ei

cooperationsis for with germany and europe, but there are also specific interests within europe, within germany. energy supply is one of these issues. 2 also know that nord stream has a political component. because of that, it is very important that we look at the security interests of the thatne and eastern europe, we take his concerns seriously and take them into consideration. all the same, you didn't quite answer. america is talking about sanctions against german people who could be involved in the. do you think that is correct? >> i think that the manner in which the american administration conducts its politics with a great deal of with leaving a number of international agreements, that this is not a good way of working with others. many think that we have achieved in the past based on the fact that they carry that negotiations. it meant that we found a rules thatand set up everybody adheres to. it is very difficult if one of the partners is now saying these roles no longer apply and leaving the agreement makes it more difficult to work together in the world. ist is why chancellor

what's your reaction to europe paying russia? does that not make europe more vulnerable to russian aggression? >> nato has 29 allies from both sides of the atlantic with different parties and different culture. some neighbors,'s of russia, some are not. there are disagreements. but, the strength of nato is despite the differences, on this pipeline from russia, we have always been able to unite around our core task. one for all and all for one. again, this is good for europe but also for the united states. now the united states is focused on china. in china's big economically and technologically. also when it comes to increasing military capacities. if you have europe, then we are close to 1 billion people. we are 50% of the world's economic. compared china with the whole of nato, then actually we are big. nato is good also for the united states. >> a special thanks to the nato secretary-general. coming up my sit down with the ceo. ♪ ♪ you got a side that wants more space, ♪ ♪ 'cause every day starts like a race. ♪ ♪ y

is this is about europe to you pull a large economy out of europe a major political player out of europe europe's weaker so this is why if we can find a way and you know there's a letter recently from german politicians that was actually very helpful very sensible letter. signed by you know the leaders of some of the main parties in germany this is this is what we need to do we need to realise both of us europeans british our future should be together. and that was the former prime minister of britain tony blair speaking earlier to detail he's been physical and in davos so the business world is watching what's happening at davos let's go to our correspondent yes korda in new york where markets are reacting in part to news from that meeting and talking of course about the i.m.f. lowering its growth projection and warning of a slowdown yes how are markets reacting to this news from the i.m.f. well we certainly is soul wall street trading lower on huge because of the martin luther king day holiday on monday wall street to catch up with the reason news flow and that the i.m.f. is lowering th

is this is about europe to you pull a logic on a me out of europe a major political player out of europe europe's weaker so this is why if we can find a way and you know there's a letter recently from german politicians that was actually very helpful very sensible letter. signed by you know the leaders of some of the main parties in germany this is this is what we need to do we need to realise both of us europeans british our future should be together. and that was the former prime minister of britain tony blair speaking earlier to detail he's been physical and in davos so the business world is watching what's happening at davos let's go to our correspondent yes korda in new york where markets are reacting in part to news from that meeting and talking of course about the i.m.f. lowering its growth projection and warning of a slowdown yes how are markets reacting to this news from the i.m.f. well we certainly is sold wall street trading lower on houston because of the martin luther king day holiday on monday wall street to catch up with the reason news flow and that the i.m.f. is lowering

4 1/2 decades in europe. we've been part of the single market, trading relationships have grown up on the basis of we're part of that unique european system. you either stay close to that in which case you're going to keep to europe's rules, in which case people are going to say why are you doing this brexit? or you say we're going to make our own rules, we're going to break free from europe altogether but in which case it's going to costuts short-term and economically long-term painful damage. so that's the problem with brexit. and the negotiation by the way over these last 30 months has been an attempt by the prime minister and the government of finding a way of having our cake and eating it, of being part of the european trading system without keeping to its rules. that was never going to become possible. that's finally become apparent. and so you either choose a brexit that's partial or painless. >> what do you say to these people that feel they're emmeshed in a system of which they don't have much contro

what is the view of europe? it is one of sadness and exasperation but also deep concern as time goes by and the deadline comes. i want to ask isabel, the only brit around the table. we have the last—minute campaign by the prime minister, we have some of her cabinet ministers talking about a surge of far right extremism if the bill does not go through. is that a new project fear or a sensible reminder of the least worst option? if you remember some weeks ago we had a people's march of 700,000 people and we had a brexit march of 2500. the far right does not have the numbers and i think it is disgraceful to see cabinet ministers saying we will break your windows if you do not deliver. that is the kind of message of what they are saying and it is absolutely disgraceful, and we have a government that can not deliver its project. we are beginning to see that parliament cannot deliver this project and i think the next step, if we are thinking strategically, is going back and having another vote. there is nothing unde

europe isn't america the interests of the anti establishment parties in europe are quite divergent as the panel will not succeed in food being an alliance of the like minded for the european elections same with me last segment check presently i we didn't want to live in a club is a worldwide club it is true that the first battle grant will first but the ground will be will be europe where the battle is being conducted and i want to tell you. i'm afraid that you are your information or data you know for one very important thing because it's true that golan came was with this team because they didn't know exactly what was the movement but i can tell you meantime we have so many meetings from people with the it's a question of time before they will come to the meeting means that there's not a good sales technique no no that's only a month it's only a matter of time you don't know you got what i thought about the last segment he turned useful down flat. with mr simmons the project for the czech president the problem is that it's focused immediately on a totally different issue from from e

europe isn't america the interests of the anti establishment parties in europe quite divergent mr bannon will not succeed in food being an alliance of the like minded for the european elections same with the last segment of the czech presently i we didn't want to live in you. i'm afraid that you're information or data that you know for one very important say it's true that poland came with with this because they didn't know exactly what was the movement but i can tell you meantime we have so many meetings from people with the question of time before they will come to the meeting means that there is not a that's a good sales technique no no that's only a month it's only a matter of time you don't know you got what i got on the last segment he turned useful down flat. with mr simmons the project for the czech president the problem is that it focused immediately on a totally different issue from from europe and sovereign isn't popular it's focused i mean the meeting focused on the relation with china and you know that battle and america are fighting hard chinese imperialism why some countri

europe isn't america the interests of the anti establishment parties in europe are quite divergent as the panel will not succeed in food chain and alliance of the like minded for the european elections same with the last segment of the czech presently i we didn't want to live in a club is a worldwide club it is true that the first battleground of first but the ground will be will be europe where the battle is being come but i want to tell you. i'm afraid that you are your information or data that you know for one very important thing because it's true that poland came with with this because they didn't know exactly what was the movement but i can tell you meantime we have so many meetings from people with the question of time before they will come to the meeting means that there's not a that's a good sales technique no no that's only a month it's only a matter of time you don't know you got what i got on the last segment he turned useful down flat didn't he was medicine man the project for the czech president the problem is that it focused immediately on a totally different issue from

or continents like europe i wanted to get your reaction to that. first of all let me say that look i've been i've been involved in mid-season a regional that was across the continent from do not see the southeast where also the diaspora would are close to the world speaking on africa are missing a few thousand that were on one thing different he comes across there's a sense of neocolonial easy to do very much in africa and you biggest representation of nuclear on the andes in africa life for us so we no doubt there is nothing new that being said by the italian prime minister may be the only new thing is that this is coming from the from the prime minister you can be maybe forty thousand listening to the media is also quite interesting that he's speaking even you know because france has always done these over the years but because he can eat up he's beginning to feel the impact of the some of the consequences of france's presence in africa going to need to run some economies very very much involved in the political and economic on sometimes it will

markets watch this space where we're told that europe will defend the interests of little ireland. i suspect strongly and has been mooted last week through social democratic lines that can the leader of the irish labor party said that he had heard rumblings that europe was preparing to ditch the irish position the backstop and all of that watch this space where the little irish economy becomes so insignificant if it's stopping a deal between britain and europe both of whom need each other because there are so many synergies in their economy that ireland's issues will be. overlapping as then the border where you live for the border i think the reality is. i predicted non profit that i predict that there's going to be a really hard crash here because there is no logical way out of this because the interests are mutually. incompatible we will have a crash. there will be. a border that will be maintained by the british on one side and possibly the europeans on the other side we will have a border that never existed before because even in the twenty's we had bilateral agreements that me

meanwhile in europe, ibm helped to wake europe's slumbering corporate bond market. the region's biggest sales since the company sold its largest march. eurobond deal ever. and spain got record orders, about $53 billion in the 10-year sovereign bond sale. investors clamoring for that extra yield by periphery euro area debt. while i am at the desk in new york this week of course, , jonathan ferro, he was out with tom keene at the world economic forum in davos, switzerland. they caught up with guggenheim's cio scott minard to ask him about the leveraged loan market in 2019. scott: i think it gets even worse. when you look at last year and you see the incremental issuance of new leveraged loans versus the incremental issuance of clo's, they basically, all the new incremental supply of loans, clo's, those people in many cases have sold the risk away. so all they are looking for it -- is to get the assets so they can charge -- tom: you said there was a 2007 , 2008 memory. they sold the risk away. are you suggesting we will find 2008,ves into another 2009 set of events, no

above all i would say that i learned that viewed from outside of europe of europe seems to be much more of an entity. from the chinese perspective europeans are relevant as the e.u. but otherwise they're small fry to be dealt with if necessary but not because that respected. the same is true for middle eastern perspective. and i was in my israeli classes i had students from the economics department of the foreign office who know everything about the e.u.'s external trade policy but not much about the logic behind political integration. nor could they answer this question you which is also very difficult for europeans can do. how can very different states with a different past and different historical baggage to tie their political fates together and conduct politics on a daily basis and. put it take mom. vies politicians and economists you can follow the thought patterns advise them in conflict resolution why did you not become a politician yourself. up pretty ticked up according to my husband's by being a politician and advising politicians are two very different things and voters have

disagrees with the insurgents the council of europe and the human rights commission who complained in his report earlier this year that things with regard to access to information are not going well the government is not implementing the recommendations of the commissioner for information of public importance and the parliament is not discussing his reports you want to continue down this road because they're not buying your denials of this. i'm not saying that these are denials the. so much work to be done and i'm saying gus said i said yesterday. at the conference of konrad adenauer stiffed them i think if we look at our you integration in three key pillars economy public administration rule of law by far the most was done in the economy i would say in terms of structural reforms eighty five percent of the job has been done which is shown in the numbers that serbia has right now our g.d.p. growth in this year was four point five percent our unemployment coughed are. we are the world leaders in the eye of traction in terms of public administration reform public pub probably fifty perc

it when our europe is being disrupted by painful bricks it thank you and when our europe is rocked by international changes france and germany must take responsibility and show the way. well for more on today's signing of the treaty of iraq and i'm joined here by our chief political correspondent belinda crane and to melinda's right is pascal t.-bo the germany correspondent for audio front into you know both of you welcome melinda let me start with you today signing it took place at the same time the u.k. is battling itself over bricks that is this treaty is an answer to that it's an answer to rex about not only to rex it is an answer to the euro skepticism across the european union and it's an answer to rising nationalism to populism it's an attempt to really press that famous restart button for the european union bearing in mind that that original treaty that you mention it was signed fifty six years ago really was the abolition foundation of a franco german partnership that became a real motor for what for further european integration but the european union today is very different

those polls are expected to see a further rise of the populist right across europe an angle americal is set to feel those effects back home. here in germany the f.t. publicly closed ranks with a rightwing extremist during street protests in the eastern city of candidates last summer united by a determination to end the magical era the populist movement in germany make gain new momentum. with three eastern states going to the polls this coming all to the a if t. will have to prove whether it can become the strongest political force in any of these states. if the far right are targeted for germany manages to replicate its general election results from twenty seventeen it could become the strongest political force in saxony a defeat for the c.d.u. and yet more state elections would also be seen as a rebuke for chancellor merkel's leadership. all of those factors will also play a role in the half time assessment of the coalition partner of anglo medical's government the social democrats wrote an exit clause into their coalition deal if they trigger that anger machall could crash out of h

is europe so fragile? i think the post—world war ii order was put into question and we're going through a lot of turbulence and i think that brexit is one of the symptoms of the problems europe is going through. and there are quite a few political parties on the european continent whose political agenda is to leave the european union. yeah, but hang on, when we are having a conversation about anti—semitism and then you choose to alight on politics and you make reference to a particular phenomenon in the united kingdom we know as brexit, surely you're making a very dangerous and unwarranted association between a political movement, which is, you know, is driven to a certain extent by a form of nationalism, and then, at the other end of your spectrum, anti—semitism. and you clearly associate those two things or is that not extremely dangerous in its own way? nationalism does not always bring with it anti—semitism. but nationalism can be a positive force and is has been a positive force in many politi

stay close to europe. norway broke free from europe trade agreement with canada. no deal. a bad idea. her deal or another referendum. the only way of resolving this is to lay it out for people, explain the options. they are all clear in their representations by the way. then allow parliament to decide. tat's the only way you can resolve this. run a set of votes. in the end parliament has to make up its mind. that's what it will do, by the way. in the end i think it will come to another referendum because the alternatives are all unpalatable. the thing about this is all the way people thought of this as a negotiation and it's really a choice in the he said. britain has to choose which future it wants. what this negotiation taught us is what those futures really look like. the only sensible is to have mps decide it. if they can't decide it, the people. >> you said no sensible people can get behind a no deal. these are people, they make up from what i gather about 15% of the relevant people, the sort of hard-liners in the torey party. this prime minister apparently doesn't wa