things come into europe as climate changes. you had hippopotamuses in the thames 100,000 years ago, you know, and those changes will continue. but the thing that worries me is the crops. you look at what's happened in northern germany with extreme weather events and the impact on crops, and you see it around the world. i mean, ourfood security is at stake here, and our political stability. your book illustrates very intriguingly some of that bestiary that existed in europe a few millennia ago, and there are still those connections. the pig—nosed and other turtles in australia were once living here in europe. you have supported the woolly mammoth revival project that could revive the mammoth on this continent. why? i'm an adventurer. i think this is a wonderful adventure to be on. but even more than the woolly mammoth, the thing i would love to see back here is the straight—tusked elephant. you know, because the european straight—tusked elephant, basically it's a hybrid. but its ancestral species still exists in west afric

particular into 1000 of 121314 with the hundreds of thousands of people crossing into europe now europe is not the same you have breaks it and you have that the rise of the populists of the far west and we're talking about the need to fix the problem of migrants when you have could not be the same again isn't this something this is going to definitely have an. impact on the issue of migrants in the near future. well firstly i don't think we should talk about the problem of migrants because the real crisis within europe is the demographic crisis and if europe doesn't actually accept new populations it really will have problems and that is true for every country in europe even those that are most fervently against accepting new populations so i think what we've seen is that the extreme right has been able to exploit the situation that was provoked by the conflict in syria which led to quite a large number of people seeking protection in europe however even during that situation in 2015 the numbers of people arriving in europe were far less than the numbers seeking protection in other coun

and europe and. europe and the united states. in this case is much more the responsibility of united states i think if i can say they'd leader she would decide. that europe is becoming the united states. ask you one more question about values because it's very interesting to me you've been very supportive of president micron's call to build a new european raney. would say that you have to kind of put your own house in order before embarking on such grandiose plans when it comes to values what do you make of handling of the discontent was it in keeping with the. discontent of the. discontent as i missed blows in the media class from my point of view big mistake of managing a measured decision about the taxation i'm specifically asking about street action because when you have people that are breaking up destroying everything on the other hand also have the use of explosive grenades and. mains and kills people we are not seeing that even in authoritarian societies these. are not seen in the. at least 10 fatalities and several 1000

particular into 1000 of 121314 with the hundreds of thousands of people crossing into europe now europe is not the same you have breaks it and you have that the rise of the populists and the far west and we're talking about the need to fix the problem of migrants when you have could not be the same again isn't this something this is going to definitely have been a huge impact on the issue of migrants in the near future. well firstly i don't think we should talk about the problem of migrants because the real crisis within europe is the demographic crisis and if europe doesn't actually accept new populations it really will have problems and that is true for every country in europe even those that are most fervently against accepting new populations so i think what we've seen is that the extreme right has been able to exploit the situation that was provoked by the conflict in syria which led to quite a large number of people seeking protection in europe however even during that situation in 2015 the numbers of people arriving in europe were far less than the numbers seeking protection in o

in regard to the round deal that europe continues to abide by surely one that you get out of well we didn't walk out of it the president had states at that time barack obama entered into that agreement. over the objection of a lot of us it did not have the things in it that it needed to have and it was very weak it did indeed address one issue but i viewed the iran. deal as a deal to try to discipline a bad boy in the classroom that was doing 5 bad things they dressed one of them but they're interested a big one didn't they dressed one of them a big one they addressed one of them ben rhodes in the short time that we have left let's look ahead to the next presidential election next year. what kind of democratic party do you think is going to be capable of beating donald trump with his massive following his dominance of the airwaves his dominance of social media which proved so devastating in the last presidential election what kind of democratic vote is going to be able to i think under the current of the massive following is 40 percent he is the most unpopular us president to run for

are both stepping up their military presence in the region but europe or at least continental europe is refusing to get on board of the u.s. led naval mission and is instead continuing to put its face in the nuclear deal struck with iran in 2015 which president trump withdrew america from last year. so our question this week here on quadriga is iran crisis europe on the sidelines and to discuss that question i'm joined here in the studio by early for toller nature of the middle east expert with think tanks like the brookings institution and the german council on foreign relations argues that the big challenge is to transcend to equally simplistic perceptions of the islamic republic europe's tendency towards glorification of washington's palm shoulder full demonetization also with us is alan posner a regular commentator for the bergen based daily. he believes that europe is on the front line of iran's aggression if we choose appeasement he says we will pay dearly for cowardice and a very warm welcome to america how a man who's a business journalist with another berlin daily to target

across europe. to take. people off neoliberal economic perspective have been in power for quite some time everyone has to take responsibility in this very challenging time and of course there is a demand in our society due to the be good the normal that we are leaving and the fact that the gist of the deepest economic and financial crisis yes we. are going much more coming back on the show at least 6 in the. but we came out that we dealt a measure of these 2 options in any case when he was saying that the many of them only say no and. the magic example and the message they can buy all the property the so for example. they say no for 3 they do not succeed. and you see that from one e r. or the. police and the. right wing parties are still despite. in power in italy in hungary in austria in poland there. in france it is expected that there are going to consolidate their presence in. the may elections. what is it in the policies of the. driving the support. i am asking you to be critical. because you are ultima

house of europe look. generally speaking. this this conflict started when when the british seized in the iranian tank off civil war 2 it was down to syria syria is has been the object of a range and aggression they basically occupy the country their own. country and we've seen one result in a huge wave of refugees so we are on the front line of iranian aggression in that respect also we are though we in germany are more dependent on russia russian oil than we are on oil from the persian gulf with europe as a whole is much more dependent on oil from that region than for instance the united states which is not an oil import it's not export so we should be taught we in europe should be much more worried about what iran is doing than for instance america needs to be and and we talk about this as if it were a conflict between you know from the ayatollahs but in fact donald trump has no interest whatsoever in you've said it i'm not going to you know grip it all the reasons he would be scared stiff many good reas

the auction over in europe. that is coming up next. this is bloomberg. ♪ jonathan: i'm jonathan ferro. this is bloomberg "real yield." in europe, where investors offered to buy almost twice the amount of 10 year bonds the german treasury sold at auction. below the ecb key deposit rate or the first time. boeingunited states, selling $5.5 billion worth of in its largest ever dollar-denominated offering. in its largest ever dollar-denominated offering. a third and final issue, daimler getting more than 6.5 billion in its second multi-tranche offering of the year. pricing tightening at least 10 basis points on all the tranches. staying in europe, the in its sd multi-tranche offering of the year. battle between the weaker fundamentals and qb continues. skye bridge has a warning for investors. >> putting the fed or central bank has been a losing battle post crisis. every short position you have had including lower quality deteriorating fundamental credits has worked against you. 2011, 2015, q4, fundamentals matter. since the start of this

in europe. nato continues to aspire for a construct a relationship with russia when russia else actions make that possible. pompei used to eat at the end of a historic agreement struck between the u.s. and the soviet union presidents mikhail gorbachev and ronald reagan signed the treaty in 1987 a change of course have to decades of cold war you pay attention. the root of the tension was this the soviet s s 20 missiles a nuclear warhead that could strike western europe at short notice. the u.s. deployed its own mid-range missiles in europe leading to protests across the west. the i.n.f. treaty resulted from widespread popular demand for deescalation when the cold war ended so did the fear of nuclear armageddon but with the end of the ins the specter of nuclear confrontation looms again. it was earning me now here on the set this is dan c. hall founder and executive board member of the international campaign to abolish nuclear weapons or i can in short right here in germany and some of you might r

in more regard to the round deal that europe continues to abide by surely one that you get out of well we didn't walk out of it the president states at that time barack obama entered into that agreement. over the objection of a lot of us it did not have the things in it that it needed to have and it was very weak it did indeed address one issue but i viewed the iran. deal as a deal to try to discipline a bad boy in the classroom that was doing 5 bad things they addressed one of them but they're interested a big one didn't they dress one of them a big one they addressed one of them ben rhodes in the short time that we have left let's look ahead to the next presidential election next year. what kind of democratic party do you think is going to be capable of beating donald trump with his massive following his dominance of the airwaves is dominance of social media which proved so devastating in the last presidential election what kind of democratic vote is going to be able to i think under the current but the massive following is 40 percent he is the most unpopular us president to run for

you describe europe not so 313 pages. you describe europe not so much as a continent but as an appendixjutting so much as a continent but as an appendix jutting out into the atla ntic appendix jutting out into the atlantic ocean. yet, from what you say, it is an appendix with quite a lot in it of learning for us now. what is it about europe's experience and its experience of climate change, dramatic payment change before, that informs your thinking now? well, look, europe has been a crossroads of the world. it has been where asia, africa and north america have met over the millennia. it has a lwa ys have met over the millennia. it has always been invigorated by things from outside coming in. it's climate has changed dramatically over time, but what we see in the current era is that we are seeing a change of such a large scale it is hard to find an analogy to it in the previous fossil record, and of such speed. it is happening 30 times faster than the melting of the ice at the end of the last ice age. so in any agenda or a

are both stepping up their military presence in the region but europe or at least continental europe is refusing to get on board of the u.s. that naval mission and is instead continuing to put its face in the nuclear deal struck with iran in 2015 which president trump withdrew america from last year. so our question this week here on quadriga is iran crisis europe on the sidelines and to discuss that question i'm joined here in the studio by ali for toller nature . middle east expert with think tanks like the brookings institution and the german council on foreign relations old news that's the big challenge is to transcend to equally simplistic perceptions of the islamic republic europe's tendency towards glorification of washington's palm schol full demonising. also with us is alan posner a regular commentator for the bergen based daily. he believes that europe is on the front line of iran's aggression if we choose appeasement he says we will pay dearly for cowardice and a very warm welcome to to order him to have a man who is a business journalist with another berlin daily to targe

things come into europe as climates change. you had hippopotamuses in the thames 100,000 years ago, you know, and those changes will continue. but the thing that worries me is the crops. you look at what's happened in northern germany with extreme weather events and the impact on crops, you see it around the world. i mean, ourfood security is at stake here, and our political stability. your book illustrates very intriguingly some of that bestiary that existed in europe a few millennia ago, and there are still those connections. the pig—nosed and other turtles in australia were once living here in the uk. you have supported the woolly mammoth revival project that could revive the mammoth on this continent. why? i'm an adventurer. i think this is a wonderful adventure to be on. but even more than the woolly mammoth, the thing i would love to see back here is the straight—tusked elephant. you know, because the european straight—tusked elephant, basically it's a hybrid. but its ancestral species still exists in west africa, t

awaking all across europe. means white that that's why i said we are meeting was to protect the european identity the european christina roots for example the european culture detail and culture but it is you that is giving to this identity. the. arrest of the blow up and that's not the demeaning in any way that the league and our representatives are doing so we want to protect the cultural roots the christian roots of europe it's not hard to work out what you go around saying muslims equal threat was an equal threat over and over and that now some of the analog some people are going to react badly and some people are going to turn violent we want to treat the german germination they don't even the european union but we're talking about germany here we don't want to have that a muslim country we accept muslims there are lots of muslims who are well integrated into our society who take place no problem everything's fine but what we do not want to accept is that islam is starting to have an impact on our social l

is washing into europ europe >> and commodity complexes have come under pressure in light of the market price action we've had, are you forecasting a rebound in the second half of the year assuming that the trade talk narrative stabilizes? >> we're bearish we are going through a major risk off exercise that is hitting all of the risk assets and commodities. we think it's too early to talk about trade resolution we think it's more likely to happen next year, the election year in the u.s. so the answer is no. we're particularly bearish on copper and iron ore for the second half. >> okay. excellent. very directional view there. thank you very much for coming in >> thank you >>> coming up on the show, we'll talk about fixed income. ten-year bund yields fall deeper into negative territory but how much lower can european sovereign bonds go mi unee scuss that and mor congp xt standard of care. it's how we care for our patients- like job. his team at ctca treated his cancer and side effects. so job can stay strong for his family. cancer treatment centers of america. appointments available now.

that in europe? oksana: they have divorced each other completely. there is no relationship between fundamentals and prices in credit in europe, which is why we have essentially stayed out of it. but that is what happens when the european central bank provides an inordinate amount of demand for the credit market. you have high-yield names, junk rated names trading at negative yield. it is really unclear what puts a stop to this. but in the meantime, how do you analyze something that is a junk rated name and is showing a negative yield? what is the opportunities? jonathan: we've got to talk about the investment-grade names. this is really difficult. let's have one example in the auto sector. you saw the daimler issue. big demand for that daimler issue. there is a company that has had profit warning after profit warning through 2019. if you take it as a sector not to pick on daimler, but euro denominated auto issuers right now up until this week, those spreads were tightening. they were not widening. wh

are both stepping up their military presence in the region but europe or at least continental europe is refusing to get on board the u.s. live naval mission and is instead continuing to put its face in the nuclear deal struck with iran in 2015 which president trump withdrew america from last year. so our question this week here on quadriga is iran crisis europe on the sidelines and to discuss that question i'm joined here in the studio by early for told on the job a middle east expert with think tanks like the brookings institution and the german council on foreign relations see argues that the big challenge is to transcends 2 equally simplistic perceptions of the islamic republic europe's tendency towards glorification of washington's problem showing full demonize. also with us is alan posner a regular commentator for the berlin based think. he believes that europe is on the front line of iran's aggression if we choose a peace been too serious we will pay dearly for cowardice and a very warm welcome to a drink i had a man who's a business journalist with another berlin daily the tar

and europe >> sure. banks make a lot of money from net interest income, which gets driven by the yield curve. as rates go down, it's harder for banks to make money. they lose less money because you have fewer loan losses, but generally low but steady level of interest rates are good rates in japan and the eurozone negative this is a major head wind for bank earnings. >> what is more important, the absolute level of yields or the yield curve, the spread between the two-year and ten-year? this is an important point, if we are in a situation where the ecb all of a sudden doesn't have a lower balance, they can keep cutting the negative as long as the curve stays steep. that shouldn't be as bad for the banking system, should it? >> what matters for the banking system is the level of the short end of the yield curve but also the level of the slope and the growth if the yield curve is steep because of growth, that's good for banks. what's bad is if the yield curve is sloped and no growth. >> what about all the

particular into 1000 of 121314 with the hundreds of thousands of people crossing into europe now europe is not the same you have breaks it and you have that the rise of the populists of the far west and we're talking about the need to fix the problem of migrants when you love could not be the same again isn't this something this is going to definitely have been a huge impact on the issue of migrants in the near future. well firstly i don't think we should talk about the problem of migrants because the real crisis within europe is the demographic crisis and if europe doesn't actually accept new populations it really will have problems and that is true for every country in europe even those that are most fervently against accepting new populations so i think what we've seen is that the extreme right has been able to exploit the situation that was provoked by the conflict in syria which led to quite a large number of people seeking protection in europe however even during that situation in 2015 the numbers of people arriving in europe were far less than the numbers seeking protection in ot

in europe and the united states. in this case is much more the responsibility of united states i think if i can say they did. she would decide. that europe is becoming the worst enemy if united states. can be ask you one more question about values because it's very interesting to me you've been very supportive of president call build a new european. would say that you have to kind of. own house in order before embarking on such grandiose plans when it comes to values what do you make. that wasn't in. keeping with. the middle class from my point of view big mistake of managing a major decision about taxation on them specifically asking about. you when you have people that. destroying everything on the other hand also have the use of explosive grenades and. mains and kills people we are not seeing that even in authoritarian societies. not seen in the. least. several 1000. and people losing eyes people losing their limbs. you know. to defend that it's fake news i mean. you know. those protesters have been have a hand th

the news from europe was disastrous, almost all of europe was under the nazi jackboot and we were alone in the battle of britain, we were absolutely alone. i wrote a book called a few about the 11 americans who flew in the battle of britain in thesummer of 1940 . so churchill liked to be naked a lot, even around his underlings that were around him, his secretaries and his son and one day in may 1940 he was shaving and his son was talking to him and he was completely naked. i'd let you guys imagine what that was like . and he threw his razor into the sink and his son was there and churchill said i've got it. it wasn't a drink, he got an idea and his son said what have you got? avand he said i've worked out how we're going to win the war. the son said how mark and he said we're going to drag the united states in so from the very first day that winston churchill was in power as prime minister, he did everything i, bag, borrow, there was nothing he wouldn't do to bring you guys into the war because if we didn't do that, it was done, we had no chance so everything was about that. he was cele

things come into europe as climate changes. you had hippopotamuses in the thames 100,000 years ago, you know, and those changes will continue. but the thing that worries me is the crops. you look at what's happened in northern germany with extreme weather events and the impact on crops, and you see it around the world. i mean, ourfood security is at stake here, and our political stability. your book illustrates very intriguingly some of that bestiary that existed in europe a few millennia ago, and there are still those connections. the pig—nosed and side—necked turtles in australia were once living here in europe. you have supported the woolly mammoth revival project that could revive the mammoth on this continent. why? i'm an adventurer. and i think this is a wonderful adventure to be on. but even more than the woolly mammoth, the thing i would love to see back here is the straight—tusked elephant. you know, because the european straight—tusked elephant, basically it's a hybrid. but its ancestral species still exists i

and europe and turkey . in europe and the united states. in this case is much more the responsibility of united states i think if i can say they'd yacking leaders you would decide. that europe is becoming the worst enemy if united states senator kerry ask you one more question about values because it's very interesting to me you've been very supportive of president call build a new european. would say that you have to kind of your own house in order before embarking on such grandiose plans when it comes to values what do you make off. wasn't in. keeping with. some discontent in the middle class from my point of view big mistake of managing a major decision about taxation on them specifically asking about. you when you have people that are breaking out destroying everything on the other hand also have the use of explosive grenades and. mains and kills people we are not seeing that even in authoritarian societies. not seen in the. at least 10 fatalities and several 1000 injured. and people losing eyes people losing their limbs. you know. but

and europe and. europe and the united states. in this case is much more the responsibility of united states i think if i can say they'd been leader she would decide. that europe is becoming the united states. ask you one more question about values because it's very interesting to me you've been very supportive of president micron's call to build a new european. would say that you have to kind of put your own house in order before embarking on such grandiose plans when it comes to values what do you make of. that wasn't in keeping with the values. the. the weather. in the middle class from my point of view big mistake of managing a measured decision about the taxation i'm specifically asking about street action because when you have people that are breaking out destroying everything on the other hand also have the use of explosive grenades and. mains and kills people we are not seeing that even in authoritarian societies these. are not seen in the. at least 10 fatalities and several 1000 injured. and people losing eyes people losi

but i think that europe. is not the western world where we are report of the western world and europe should reconsider the concept of its sort of vanity it has its allies. and in the world. what we see in this world today that's the world we're. in western hegemony is under question and europe needs to play it smart so bad why the dialogue between europe and russia is the necessary things so that your opinion viewing in the crude. habits way again could play a substantial a part in the world today so we all need this of course we can result average thing . in one day but we're going to work on a in the future. 7 well there is no 7. how can we go back to that doesn't exist i mean today's g 7 but we cannot go back to g 8 because g 8 doesn't exist. there's no g 8 as for g 8 well we never say no. it was russia's turn to host to its. and our partners didn't come well they're welcome any time please. while they can come even as g 7 but there are other organisations in international institutions that ply a signific

europe, i'm very proud to be european but we need a different europe >> very proud to be european but we need a different europe the biggest risk to europe today is not nationalism it's the lack of vision. at the end of the day, how can you have the growth and stability pack if you have no growth the lack of growth will lead to instability so perhaps in the future you may be looking at a broader europe that's focus will be primarily on reinvigorating european growth and that could bring a little bit more stability to the block as a whole. >>> days after a controversial decision to end parliament he has instructed his team twice a week in the run up to the european summit. while i have been encouraged with my discussions with eu leaders that there's a willingness to talk about it it's now time for both sides to step up the tempo. meanwhile opposition labor leader jeremy corbyn vowed to bring forward it as soon as they return from recess next eek. >>> we are going to try to politically stop him on tuesday in order to legislate to prevent a no deal brexit and also try to prevent him shut

are both stepping up their military presence in the region but europe or at least continental europe is refusing to get on board the u.s. naval mission and is instead continuing to put its face in the nuclear deal struck with iran in 2015 which president trump withdrew america from last year. so our question this week here on quadriga is iran crisis europe on the sidelines and to discuss that question i'm joined here in the studio by early for tolling the . middle east expert with think tanks like the brookings institution and the german council on foreign relations he argues that the big challenge is to transcends 2 equally simplistic perceptions of the islamic republic europe's tendency towards glorification of washington's polish all full demonetization and also with us is alan posner regular commentator for the bergen based elite team felt he believes that europe is on the front line of iran's aggression if we choose appeasement he says we will pay dearly for cow. in vegas and a very warm welcome to 2 already had a man who's a business journalist with another berlin daily the tim

europe? oksana: they have divorced each other completely. there is no relationship between fundamentals and prices in credit in europe, which is why we have stayed out of it. that is what happens when the european central bank provides an inordinate amount of demand for the credit market. you have high-yield names, junk rated names trading at negative yield. it is really unclear what puts a stop to this. in the meantime, how do you analyze something that is a junk rated name and is showing a negative yield? what is the opportunities? jonathan: have to talk about the investment-grade names. let's have one example in the auto sector. you saw the daimler issue. big demand for that daimler issue. a company that has had profit warning after profit warning. if you take it as a sector not to pick on daimler, but euro denominated auto issuers right now, up to this week, those spreads were tightening. they were not widening. fundamentals suggest they should be wider. can you make sense of that? robert

things come into europe as climate change. you had hippopotamuses in the thames 100,000 years ago, you know? and those changes will continue. but the thing that worries me is the crops. you look at what has happened in northern germany with extreme weather events and the impact on crops, and you see it around the world. i mean, ourfood security is at stake here, and a political stability. your book illustrates very intriguingly some of that bestiary that existed in europe a few millennia ago, and there are still those connections, the pig nosed and other turtles in australia were once living here in the you have supported the woolly mammoth revival project that could revive the mammoth on this continent. why? i'm an adventurer. i think this is a wonderful adventure to be on. but even more than the woolly mammoth, the thing i would love to see back here is the straight task elephant. to see back here is the straight tusked elephant. you know, because the european straight tusked elephant, basically it is a hybrid, but its ances

and china let's not forget europe. europe are very much at the heart of this as well. one of the reasons why some of the european sectors got hit is because of anticipation of potential paris coming on to europe as well from the u.s. but we did get some mildly encouraging comments over the weekend saying that he does see prospects. how much of a relief does that give to europe especially coming at a time when there's a lot of noise about the weakness of the data >> you have to take any particular comment by president trump with a huge pinch of salt. i don't think that's a big relief the problem german exporters are having is not because of direct tariffs or fierce of tariffs it's exports that are nearly half of gdp so four times exposes the united states for example and it's exposed in the auto sector and machinery and equipment so they're particularly cyclical and also worried about a no deal brexit. >> so even when we do see a thawing of relations between china and the u.s., the damage is done when you think about global trade volumes and because of that europe is at

particular into 1000 of 121314 with the hundreds of thousands of people crossing into europe now europe is not the same you have breaks it and you have that the rise of the populists of the far west and we're talking about the need to fix the problem of migrants when you have could not be the same again isn't this something this is going to definitely have been a huge impact on the issue of migrants in the near future. well firstly i don't think we should talk about the problem of migrants because the real crisis within europe is the demographic crisis and if europe doesn't actually accept new populations it really will have problems and that is true for every country in europe even those that are most fervently against accepting new populations so i think what we've seen is that the extreme right has been able to exploit the situation that was provoked by the conflict in syria which led to quite a large number of people seeking protection in europe however even during that situation in 2015 the numbers of people arriving in europe were far less than the numbers seeking protection in ot

are both stepping up their military presence in the region but europe or at least continental europe is refusing to get on board the u.s. live naval mission and is instead continuing support its faith in the nuclear deal struck with iran in 2015 which president trump withdrew america from last year. so our question this week here on quadriga is iran crisis europe on the sidelines and to discuss that question i'm joined here in the studio by early for told on the job a middle east expert with think tanks like the brookings institution and the german council on foreign relations seat argues that the big challenge is to transcend to equally simplistic perceptions of the islamic republic europe's tendency towards glorification of washington's poem showing full demonising. also with us is alan posner a regular commentator for the bergen based think. he believes that europe is on the front line of iran's aggression if we choose appeasement he says we will pay dearly for how wanted. and a very warm welcome to touring to have a man who's a business journalist with another berlin daily the to

one of the most diverse herb gardens in europe. some parts of the manor house are open to the public. along with the estate vincent all but inherited the title of sin you're a feudal the island is officially ruled by any of the but the 2nd not in her capacity as queen of the united kingdom but as head of the duchy of normandy jersey is actually independent of which in a complicated situation historically has been your enjoyed some unusual hereditary privilege aids. i used to have the right to shoot rabbits. regions. my wife if she. had a child had the right to be taken to church for a touching ceremony. on a horse to be provided by the priest all these things are very obscure but the rights and privileges that were attached to the mother the island is lush and green thanks to frequent rain but the climate is mild an ideal combination for passionate gardeners like judith to have a. good night's chaos is how she describes her garden which is open to visitors. are trying to make the garden very natural and so that we're very much thin

and in europe. without that sense that people need to go out and spend on projects today because if you don't, it is going to be more expensive tomorrow, it is very hard for value to rally. the project of reigniting inflation, of all the things globally in the world that look most at risk, that is probably the one. if we slip into a deflationary ofle, if hsbc's concept there being no inflation is correct, that spiral becomes really dangerous. guy: how does europe get a steeper curve? if i may corporate and i'm looking at a negative curve, my cost of capital, the numbers i would normally work with are just thrown out the window and i'm trying to figure out why invest, none of the normal things i would do as a cfo or ceo work. what do we need to do in europe? what do european companies and european equities need to start to get valuations moving in the right direction? jimmy: it is not just that. the paradox of negative rates seems to make people more defensive and safe more. guy: it is logical, and a

and we have no intention to deploy the new land based nuclear me sides in europe. nato continues to aspire for a construct a relationship with russia when russia was actions make that possible. pompei used to eat at the end of a historic agreement struck between the us under soviet union presidents mikhail gorbachev and ronald reagan signed the treaty in 1987 a change of course after decades of cold war knew the attention. the root of the tension was this the soviet s s 20 missile a nuclear warhead that could strike western europe at short notice. that worried eastern european countries in the soviet occupied bloc they were well within the missiles reach of 5 and a half 1000 kilometers. the us deployed its own mid range missiles in europe leading to protests across the west. the i.n.f. treaty resulted from widespread popular demand for deescalation when the cold war ended so did the fear of nuclear armageddon but with the end of the ins the specter of nuclear confrontation looms again. and to talk more about the end of this i and if you have with me let's go at it.

the negative yield of interest rates in europe. german rates just hit an all-time low and the 30-year bond in japan also hit a negative yield. i think this is the most underreported but most important story of the day because we in america, this is my opinion, larry, don't we have to match those lower rates from over there, or at least reduce our rates so we fall in line with them? >> well, i know at some point, being the great reporter you are, we will get to the strong jobs report and wages but we will put that aside. stuart: this is more important, larry. the world has never seen this before, ever in human history and it's happening right now. >> well, you're the anchor and i got to go with you, buddy. i think rates in europe are low and negative, i think that is quite unusual. i think to a large extent, stu, it's a function of their terrible economy. nobody is growing in europe today and in fact, there's evidence of a spreading recession. so that's point number one. real interest rates have collapsed. second point, european cen

down some people in europe you know. bring everybody back and i guess i don't accept my leaving me with.

it's no secret that europe's populist and nationalist parties are gearing up to try and make a splash at the coming european elections but who's helping them we are nationalist we are separate so we leave all our members all on with their own vision and principle in respect of all what this except you know use comfortable phrases like it's a club meant for the exchange of ideas from nationalist populist movements across you're talking strategy for bang and it's far more combative than that isn't it he called it gumming up the e.u. parliament in other words blocking your purposes essentially destructive isn't a no it's to review not building you know you're breaking we are just now we are we are reinforcing and rebuilding the preeminence of national what does he say he said the beating heart of the globalist project is in brussels if i drive the stake through the vampire the whole thing will start and dissipate will produce self-important play we don't think we have we we analyze the situation in the sense that the e.u. system like the us ultimately ends up as imperialism a kind of imp

brent: we know she is a household name in europe. she has had a large impact in europe. what about the united states? she is a new face there. >> you're absolutely right. what is surprising to me is how, in europe, the name is well known. in the u.s., just talking to people in battery park in new york city, a lot of people asked me why there were summary people down here recording or filming. i said, explaining what it was. young people did know who she was. they are clued in on what's going on. many people have been following her trip online. you could follow her across the atlantic. people were very expectant because she had to go through immigration here. it hasn't had the coverage in the u.s. media as it has had any other parts of the world. >> we are watching these live pictures. she is on the stage there. she has gone up to speed -- speak. we are waiting for that. her activism does have its critics. what two people say who are negative about her. -- what do people say about her? >> criticism has been based on the fact that she has traveled across the atlantic, but

the mood in europe is not so pretty with most majors trading in negative territory. overnight, in addition to the news about the tariffs being postponed until december, we had weak data coming out of china. that is affecting some sentiment in europe, even before we got that second quarter gdp printout of germany all eyes on the german index the xetra dax is down 0.3% second quarter gdp came in at negative 0.1%. on the back of that, autos, basic resources are coming under selling pressure this morning which explains why there is red on the board the ftse mib is down 0.66%. it looks like the no confidence vote will go on september 16th let's turn and talk about the price action in asia here you have two stories playing out. you have the relatively good news, that the tariffs on some parts of chinese exports will be delayed until december that was a positive boost for wall street and some particular sectors in china we also had weak macro data overnight. industrial production came in at a 17-year low. fixed asset investment weaker than expectations. retail sales also we

the pressure will be on europe. if i look at the two economies, which one needs a more weaker euro, it is the euro area. euro, this will matter when those elections have a date. we will have to hedge our currency risk. you will see fx options start to price in a higher risk premium. around the same time as brexit. if you see the league partner up with a far right ring and have a coalition like that, the euro will not be able to go higher. matt: you see pressure on the euro as opposed to dollar. i'm looking at euro versus pound. i have taken a long view, going back to before the euro even existed. it was still a concept. faster sincembing the financial crisis? >> you put a long-term chart up. the u.k. has a higher inflation rate. over time, the euro gets stronger than the pound. that is a long-term trend that your plotting their. when it comes to the short-term recent moves, it is because the u.k. is suffering even more than the eurozone when it comes to the growth data. suggestsng, the data we should cut interest ra

the future of europe starts september 2nd on d w. police in hong kong have again fire tear gas at pro-democracy protesters hundreds of demonstrators gathered outside a police station the latest clashes followed 2 days of protests at hong kong's international airport that at times turned violent beijing has condemned the unrest calling it terrorists like. tens of thousands of women have taken to the streets of brazil's capital to denounce president jar your balls from. the march of the marker .

they are worried about the rest of the world, about europe and the japanification of europe and the europeification of the united states, if that is a word. the market has painted itself into a quarter of expecting between -- into a corner of expecting between four and five cuts. guy: i've heard the definition of insanity is doing the same thing over and over and expecting different results. that encapsulates monetary policy. you highlighted one reason for that. what will it take for them to say politicians, we have done everything, this is it. you've given us the mandate. it is not working anymore. we pushed monetary policy as far as it will go, to the point where it is having no effect and could be doing something bad to the economy. when does that point come? are we there in europe? are we there in japan? when we get to that point? bhanu: to be fair to central bankers, and policy always fights the last crisis. inflation target was set up post 1970's oil shocks were inflation was a problem. we are in an opposite world where globalization has led to a collapse in inflation but we are still targeti

, the invasion of europe. so eisenhower goes to england to be planning the invasion of europe and the cross-channel attack and he writes his first letter to marshall. eisenhower will write 108 letters to marshall throughout the war. in fact, marshall never really bothers to write him back very often and it's not like they corresponded and it's eisenhower letting marshall know what's going on. here's what we're planning and here are some of the issues with the commanders and here's what's going on. marshall is to simply support eisenhower in everything that he did. hey, i just want you to know you've got our support and you're doing a great job. keep it up. by the way, have you thought about doing this? it's more of a guiding hand than a superior talking to a junior officer. so i began to plan the invasion of france and it soon became clear, frustratingly, that the british were right. we are not ready for a cross-channel attack in 1942. so here's the cross-channel attack in 1944. we simply didn't have any of th

row because we see that we have a lot of discussion and dispute in europe and we have the chance for a restart in this year after the european election of a new positions on the nominated and defined and it's something like a restart and i think it's the best we can do it to stick to europe and to make clear that this is our main focus and most important bases for economic and political influence in the world on the other hand it's quite clear that we have to work together with all the partners we have. to to go ahead with the trade negotiation with the united states and europe is at stake because france the french government has different perception on that than the german one and have it to come together china is really a difficult story it's not really market economy it's looking on economic and military and political terms on their own so there is no easy. terms have on the table we have to work to do it here richard thank you very much the work of. changing tack around the world scientists working to find ways to lower carbon dioxide levels in our planet's atmosphere one of the