>> europe needs russian gas. russia needs europe. russia is supplying gas to japan, china, but europe is an essential client so they are tied together. the future has problems with the co2 signature taxation coming into effect in europe and eu saying they will oppose any kind of extraction of gas or oil in the arctic, which russia rejects. so there are serious problems now and in the future of how russia will be seen and interact with europe in supplying gas, oil, fertilizer, and other commodities. so russia and europe have to work together but right now there are a lot of problems and misunderstandings. it is complex and dangerous. >> [indiscernible] do you think bringing non-russian oil to the european market will be easy, looking for alternatives? is this feasible short-term? >> we already see energy from other parts of the world to come to europe. we have pipelines coming from the mediterranean, from north africa through the mediterranean. but if you look at libya and algeria, there are also geopolitical tensions. so europe will

for germany and for europe. well, it's interesting that every member of the upcoming new government announces that we need to radical changes when it comes to climate change. and they are all pushing for renewables that more needs to be done more than what the previous government has done. and given that we've seen the rising gas prices that could potentially be leveraged on the stand, that it's now high time. and we shouldn't discuss the nitty gritty is of how it is turned is when mail next to a building or all the reasons why it didn't meet the targets that have been defined before. so there are certainly a push coming from the current what was described as a perfect storm that we'll see more efforts and more investment in renewables and decreases the cio strategic dependency from russia. pulses. this is a crisis moment. everybody's looking for leverage. oh, it comes to ukrainian the seem to be pretty much excited about the potential. what might happens next, particularly because they are now going to be part

incent europe not to intervene and do any kind of where ups that could happen in eastern europe. cornelia, you have winter and you have energy crisis. how are we to blame? is it the post pandemic recovery? is it russia or is it weather related events, particularly last winter? it is the perfect storm you had last winter. you had such a cold winter that star was on plenty shed and i have some sympathy for gas brom again for 1st filling their own storage because they had a cold winter to. so dare storage shoe. it was, was deplete that to, for 1st you know, you 1st look after your own people and then then you go further. so, so that's one thing. then we have obviously the competition as was mentioned between them, asia and europe. for l n g, we're big because china is importing more and more l n g. this year china will become the largest import, the globally of l. n. she, it will, it will supercede japan in that position. and so, so we have, and obviously we have some geopolitical tensions. but, but, but mainly it's the perfect storm of supply and demand. and when it comes to price, yes, obv

than in other parts of europe. and you're showing images of vaccination rates of fully vaccinated people, you see the gradient here. and of course that explains part of it. tom: that explains part of it. how are the health care systems holding up in these countries? >> again, that's quite different, in part because the organization of healthcare is quite different. so for instance in my country, it has been quite tight, we don't have much spare capacity and that is a problem in a crisis like. this when you just need more capacity. so that's one factor. plus the duration of the pandemic is bearing down on health care workers. we see quite a few people leaving their jobs, the amount of capacity, the flexibility of the system is further reduced by that. tom: the burn utah of medical professionals, facing and fighting this pandemic is evident. in terms of efficacy of of lockdowns at this stage, do lockdowns -- can they still work and can they prove a catalyst to boost vaccination rates? are we seeing evidence of that?

incent europe not to intervene or any kind of where ups that could happen in eastern europe. cornelia, you have winter and you have energy crisis. how are we to blame? is it the post pandemic recovery? is it russia or is it weather related events, particularly last winter? it is the perfect storm you had last winter. you had such a cold winter that starch was on plenty shed, and i have some sympathy for gas brom again for 1st filling their own storage because they had a cold winter to. so dare, storage shoe, it was, was deplete that to, for 1st you know, you 1st look after your own people and then then you go further. so, so that's one thing. then we have obviously the competition as was mentioned between them, asia and europe for l. n. g, big because china is importing more and more l n g this year, china will become the largest import, the globally of l. n. she, it will, it will supercede japan in that position. and so, so we have another cbs, some geopolitical tensions, but, but, but mainly it's the perfect storm of supply and demand. and when he comes to price, yes, obviously the

. 50. pressure on health care systems across europe.— across europe. so, do you think government _ across europe. so, do you think government messaging - across europe. so, do you think government messaging shouldl across europe. so, do you think- government messaging should change, when it comes to wearing facemasks? because any body who goes out and about at the moment, we'll see decreasing number of people wearing facemasks, certainly on public transport here in the south—east of england, what is your view of that? i think we should do as much as possible to encourage people. it is difficult because when you release restrictions, the genie is out of the bottle and getting people to comply is tricky. we have seen real—world evidence in a study looking at 30 different studies around the world showing that facemasks are really effective and can reduce infection and the spread of infection by over 50%, so they do work. i think it is encouraging people to think about themselves and others in the way that facemasks can help along with the vaccines. va

of europe, because we see something _ rest of europe, because we see something similar— rest of europe, because we see something similar to— rest of europe, because we see something similar to what - rest of europe, because we see something similar to what we l something similar to what we witnessed _ something similar to what we witnessed in _ something similar to what we witnessed in the _ something similar to what we witnessed in the channel, - something similar to what we i witnessed in the channel, we've something similar to what we - witnessed in the channel, we've seen in the _ witnessed in the channel, we've seen in the mediterranean _ witnessed in the channel, we've seen in the mediterranean since _ witnessed in the channel, we've seen in the mediterranean since at - in the mediterranean since at least last year. — in the mediterranean since at least last year. since _ in the mediterranean since at least last year, since 2015. _ in the mediterranean since at least last year, since 2015. and - in the mediterranean since at least last year, since 2015. and until- last year,

and europe. markets have understood that since a few weeks already, so i think it is very important in terms of communication for both institutions that they understand very well the different relative situations, and communication will be extremely important for markets. so what will be the difference remains to be seen, but some of the exceptional measures in europe will be terminated in march of next year, so two months from now. but in these three months, a lot can happen. i think we are going to see all these messages in the u.s., and probably, because of the covid infection rate you see now, we will probably get some dovish signals in europe. so financial markets may be quite volatile. guy: we've got a significant cheaper euro. using the ecb will welcome that? you talk about -- do you think the ecb will welcome that? you talk about the end of pepp. i wonder if what we are seeing with covid cases now, if that will mean the reforms to the other programs are more likely to have a dovish tilt t

they've got a pretty positive call on europe as well. peter oppenheimer, goldman sachs chief equity strategist, joining us now. great to see you. people are looking into next year, trying to figure out exact aware stocks will go. you guys a read 5100 for the s&p. what gets us to 5100 by year-end 2022? peter: i think there are a couple of things that are still supporting a positive view on equities. one of them is that the economic cycle is still intact. it is slimming from the pace this year globally. gdp this year was around 6%. we are expecting 4.5% in 2022, so still not above the long-term trend growth rate. even at around 3.5%, it is 2023. so as long as the economic cycle continues to expand, we will expect profits to be growing, and that is the printable driver of returns in equities. but the other important point is that inflation is picking up. policy rates remain at all-time record lows. real interest rates are negative. that is pushing investors understandably into real assets. bear in mind that the dividend yield on equities is

we are done in europe. europe certainly hit by some of the stocks we've been talking about or affected by some of the stocks we've been talking about over the last few minutes. richemont giving the luxury sector a massive boost. that is help the cac 40 out. these are the final numbers. the ftse 100 being hit pretty hard by astrazeneca. you get a day like today where astra is under significant pressure. down we go. alix: also we are talking about the last day of cop 26 and are lots of questions as to did it work? did anything come of it? currently delegates in scotland are hustling over the temperature, the carbon tax, that is all in the cards. we will talk more about this after the break. dan jorgensen's denmark minister of climate and energy. he joins us next from scotland. this is bloomberg. ♪ ritika: this is the european close. you're looking alive, the prince will room. coming up, liz shuler, vfl cio president -- the afl cio president at 12:30 in new york. this is bloomberg. let's check in on the bloo

and we're in a vacuum in europe failed to protect europe. so it shouldn't be about emma, they monopoly. it should be about the board fully, all different, extreme technologist, including russian machines, chinese vaccines, other machines from britain, astrazeneca is very good, and all this report folio different vaccines, can countries themselves a renewed pandemic clamp town across much of western europe has sparked wide spread straight on rust on places with police, however, the european union is distancing itself from the tough security response, saying that's purely a matter for national government. oh hm. with that since the european commission was not present at the scene of the riots, and it's not a police organization, it is not in the best position to comment on the actions of the police of the u states. the maintenance of public order is strictly within the scope of the national forties of the you states and is supervised by the national courts. and the european commission is not in the best position to make specific comments. wile

peter: i think it is clear we cannot beat cancer if we don't cooperate in europe and if europe does not do its bit. but also the figures show we need efforts by the national government and regional governments. everybody has to do their bit. europe has to concentrate on those areas where we need cross-border cooperation. for example, joint procurement for early detection, that is a good point where we can join forces like we did with the vaccine against covid. join forces in every european should have access to this equipment. here, europe can help, but there will be issues the member states continue to have to deal with it. manuel: the european approach is the solidarity principle. we must add to budgets the support from the european union, to target very specific measures that can make the difference. if we can use the best experiences of some european member states in the early screening of cancer to all of the european member states, we are going to get a huge advantage in fighting against cancer. i think this is the idea of the plan. catherine: if we look at w whats in the plan, it

next, "bloomberg europe." -- bloomberg markets europe. ♪ this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimited possibilities. ♪ anna: good morning. welcome to "bloomberg markets: europe." mark cudmore, our markets live managing editor, joins us from singapore to take us through all of the market action this hour. here are your top headlines. german covid cases hit a new high. the government announces no restrictions for the unvaccinated. powell or reynard -- brainard? joe

internationally the worst current is in europe and asia. this fall we've seen a demand for natural gas company and crude oil surged across global markets leading to higher electricity prices. this is like to curbs on the electricity use in china come protest in spain and bankruptcies of small power companies and chatting about intensive factors in uk. in time it's been reported coal production was rapidly expanded and in an attempt to meet electricity needs with the new slogan of guarantee to supply. the energy supply crunch and high prices are of concern since global economies are increasingly dependent on a u.s. supplies primarily natural gas and we're not -- insulated as we once were. we see our natural gas prices increased to over five dollars per million btu, the highest level in seven years. that's a fraction of what they are paying in europe but still a big increase for us in the u.s. i understand there are number of factors contributing to this situation but a primary cause in the demand is generally from rapidly recovering economy

like many countries in europe, the netherlands has seen a sharp rise in covid cases. in austria, a 20—day lockdown will start this monday. people will be asked to work from home and non—essential shops will close. in february, covid vaccinations will become compulsory. what we experience in austria right now is, in my view, an unfortunate collusion of the fact that we have a fairly low vaccination rate in the population and that the waning of immunity an unfortunate collusion of the fact that we have a fairly low vaccination rate in the population and that the waning of immunity hits austria now, six months after we started our vaccination programme, and that is unfortunately right at the beginning of the winter season, where people are moving indoors. in germany, covid cases are also rising sharply. the government is set to introduce restrictions for unvaccinated people in areas where hospital admissions exceed a certain level. as for the prospect of a full lockdown, the german government says nothing has been ruled out. in the uk yesterday, just over a4,000 new

what you europe's strategy be -- what should europe's strategy be? min. blumel: it is a double-edged situation. we have to ensure co2 emissions are going down, which is mainly done by emissions, which means increasing prices on energy. on fossil fuels. to a certain extent, states are driving those costs. on the others, we have to ensure people can afford heating in winter. when i take a look over the european development of energy prices, i can see in some countries like spain or france, there is still a highly regulated energy market of price. in austria it is rising, but it is not a big problem at the moment. what we have done is to implement in our co2 pricing scheme and inflation break, meaning if energy prices are rising over a certain percentage , then we will not implement the full increase of pricing for the next year. also if energy prices are falling, we will increase the co2 pricing. to make sure there is some kind of an inflation break on energy prices. alix: thanks a lot. gernot blumel, austria's finance minister, pleasure to speak with you.

>> the countdown is on in europe this is -- is on in europe. this is "bloomberg markets: european close," with guy johnson and alix steel. ♪ guy: what do you need to know about the market action we are seeing in europe? negative is the main story. you see red across the main european continent. the driver of this is what is happening in place is like austria and germany. the austrian index down by 3.2%. germany down by 0.5%. austria is the epicenter of the action right now, as we see a lockdown being imposed there, and talks that germany could follow. the ibex down by 1.8%. the u.k. down by about 0.5%. broadly, the stoxx 600, after peaking midweek, looks like it is going to have a negative close on the week. it is going to be a really tight call. we will check in 30 minutes as we get it to the close. alix: volume pretty solid in europe, as well as in the u.s. a negative day for some equity market. s&p energies off free .5%. exxon having a huge gap down as you have oil really falling out of bed. part of that is definitely lockdowns in europe.

europe provides a study for what not to do. millions of europeans are facing the prospect of a cold winter without enough affordable energy to heat their homes. fertilizer plants are closing because of the high energy prices and the price hikes are caused by underinvestment due to aggressive decarbonization second they are caused by overinvestment and whether the dependent renewables with has led it vulnerable to the drafts just yesterday and britain exceeded $4,000 per megawatt hour due to the low wind speed. third europe is shuttering its nuclear plants and finally it's relying heavily the natural gas especially the working poor. the effects could last for months or even years. fertilizer made from the hydrocarbon is the food of food. numerous food fertilizer plants are shutting down because of high gas prices that would mean less food production and therefore higher prices would lead to additional inflation. the united states must not emulate the disastrous energy blueprint about 60% of the electricity supplies the u.s. toda

europe. it seems the positivity around the u.s. data picture and european earnings is overcoming our fears this morning. we are think the for the u.s. data -- thankful for the u.s. data. here in europe, we have had better earnings coming through. the euro is probably a dollar negative story, the dollar down after four days of strength. we do not have treasury markets open today, so we will see what happens when they reopen. i have put in here the hungarian currency. we have south korea hiking rates overnight. we have the hungarians increasing interest rates more than expected for the third time in two weeks, and underlying illustration of what kind of move we are seeing in terms of central banks' interest rates. it is taking other emerging markets in europe with it as well. let's take a look at the day ahead, plenty to talk about this morning. we have a few items on the agenda to keep in mind despite it being thanksgiving. the ecb legal conference begins. the ecb president is due to speak at

. _ sitting across europe? we are definitely worried. of - sitting across europe? we are definitely worried. of the - sitting across europe? we are | definitely worried. of the good sitting across europe? we are - definitely worried. of the good news is, we know what to do. let's look at the positive side. portugal, spain, recently they're implementing what i call a vaccination plus spot. they are vaccinating their boosting, and also implementing the basic measures like masks, average 40% of the european population is wearing a mask indoor and evening percentage above that will have an immediate effect, much more attention will be paid to ventilation and finally, to new treatment protocols which will have to be standardised.— have to be standardised. austria wants to make _ have to be standardised. austria wants to make vaccinations - wants to make vaccinations mandatory. how wise is that we are already seeing people on the streets protesting about the new lockdown severe imposing?— severe imposing? confidence complacency _ severe imposing? confidence complacen

.— the places in europe. there is talk of this fourth _ the places in europe. there is talk of this fourth wave, _ the places in europe. there is talk of this fourth wave, we _ the places in europe. there is talk of this fourth wave, we should - of this fourth wave, we should be all right to the winter period? tt we compare it to places like germany, we know that they've had strict regime of trying to control the virus and coming into the winter months, they had much lower levels of virus circulated in the population. and because we haven't, you can criticise whether we have or haven't irv that's the right approach, irrespective of that argument, with that has done is put reasonable levels of it will be short—term immunity to those vulnerable people are particularly those younger people who have been a hotbed for virus circulation and of course, overtime, hotbed for virus circulation and of course, over time, that immunity will wane and therefore, we won't see cases significantly full but i don't anticipate

europe. or us or canada- — where do you want to go? europe. or us or canada- it _ where do you want to go? europe. or us or canada. it don't _ where do you want to go? europe. or us or canada. it don't matter. - where do you want to go? europe. or us or canada. it don't matter. go i us or canada. it don't matter. go back, go back! belarussian police are trying to keep order. but there has been a delivery of humanitarian aid. this is what happens when you are hungry and cold. well, this is the chaos of the migrant camp. aid is being distributed. in this case, blankets and clothes and people are desperate to receive it by the police are struggling to maintain control. they are telling people to get down while the aid is being given out. for these people, at this moment, their priority is not europe. it is survival. steve rosenberg, bbc news, on the border with poland. a doctors' group in sudan says security forces have killed five protesters attending mass pro—democracy demonstrations. these are the latest pictures. tens of thousands of people

europe doesnt you have been paying for? europe doesn't see _ you have been paying for? europe doesn't see alexander _ you have been paying for? europe| doesn't see alexander lukashenko you have been paying for? europe . doesn't see alexander lukashenko as a legitimate president. he claims not to care. a pariah in the west he knows there is also vladimir putin's russia to fall back on. the brexit minister david frost says significant gaps remain across most issues relating to the northern ireland protocol, that's the part of the brexit deal designed to avoid a hard border on the island of ireland. the uk and the european union have been holding talks to try to ease the row about trading arrangements for northern ireland, with european from brussels, jessica parker reports. the uk may have left the eu, but britain is still here talking. morning, everybody. because of issues with the treaty that both sides signed up to. our preference is to see if we can find a negotiated way through this problem. if we can't, article 16 remains on the table. that means potentially suspend

on that front, europe has done quite well. we have over 70% of the adult population that is completely vaccinated in the euro area, and some countries are in excess of 80%. that has been a significant boost for growth and has helped governments not go back to these stringent containment measures we had seen previously. david: during covid, were you working remotely, running the bank from one of your homes or from a home somewhere, or were you going into the office? ms. lagarde: i spent quite a few weeks stuck in my frankfurt department during the first wave of covid. the very sizable package we put together for monetary policy purposes was engineered around my kitchen table. subsequently, when things were more flexible and we could move out, i went to the office a bit. but the by default solution is remote working still today, and probably until the end of january, and then we will see. david: you should take that kitchen table and move it to your office. it was very productive, right? post-covid, do you expect europeans will

europe has done well. we have more than 70% of the adult population completely vaccinated in the euro-area. that has been a significant boost for growth, and it has helped governments not go back to the stringent containment measures that we had seen previously. david: during covid were you running the european central bank from one of your homes or from a home somewhere or were you going into the office? christine: i spent quite a few weeks stuck in my frankfurt apartment during the first wave of covid. actually the very sizable package we put together for monetary policy purposes was engineered around my kitchen table. when traveling was more flexible and we could go out i went to the office a bit, but the by default solution is remote working still today, and and probably will be until the end of january. then we will see. david: you should take that kitchen table and move it to your office! obviously it was very productive. [laughter] david: post-covid do you expect europeans will go back to work five

on that front, europe has done quite well. we have over 70% of the adult population that is completely vaccinated in the euro area, and some countries are in excess of 80%. that has been a significant boost from growth and it has helped governments not go back to the stringent containment measures that we have seen previously. david: during covid, or you working remotely? or you running the european central bank from one of your homes or from my home somewhere, or were you going into the office? ms. lagarde: i spent quite a few weeks stock in my frankfurt apartment during the first wave of covid. and actually the very sizable package that we put together for monetary policy purposes was engineered around my kitchen table. subsequently when funding was more flexible, and we could move out, i went to the office a bit. but the by default solution is remote working still today. and probably until the end of january, and then we will see. david: well, you should take that kitchen table and move it to your office, obviously it was v

also coming up. war and europe's border could become unavoidable ones. the president, batteries, if the you weren't accept the migrants on poland frontier, if you're, if his prime minister says he'll lead from the front line promising to join his army in its battle against to ground forces. and a jury is asked to way up, murder or self defense. closing arguments are made in the latest trial that centers on racism in america. ah. hello people in austria, can't go shopping, eat at restaurants, or get their hair cut for the next 10 days. as the country becomes the 1st in western europe to re impose a national lockdown, a korean of ours wave is surging through the continent. overwhelming hospitals as governments plead for more people to get vaccinated. for these nations, with the highest average daily infection rates, not just in europe, but across the globe. so vacuum tops the list followed by slovenia, austria, and the czech republic. a decimal, kevin 19 or climbing the most in the east. take a look at bulgaria with the highest death rate in the entire wor

a lot of governments in europe and the u.s. have not much leeway to develop measures, creating lockdowns, then affecting dramatically the economic activity. also because of the population now vaccinated much broadly than any time before. they lockdown will probably not be needed. tom: how does a view on rate hikes for 2022 inform your sector bias? is it in the mix when you look at higher rates? what do you do with technology? >> i would say two points. as you know, diversification is key. this is why you like to adopt a balanced approach within markets. i liquidity or -- to create a balanced approach. due to the risks and uncertainties, we have around us, including covid. diversification. second, due to the inflationary pressure, increasing the production costs. one of the key themes we save for this year, and probably in the next future, is pricing power. companies aiding pricing power are able to reflect on sets, rising into the setting prices. in that case, they will protect at a high level as we are in the corporate margins

the rate in eastern europe is far lower. the eu is considering vaccinations for children over the age of five. it approved vaccines for over 12 in may. the economic effect of covid as rising gas prices, people say they are in need of seasonal cheer, so no government wants to be seen to canceling christmas. they say that is why they are taking these measures now. but the measures vary from country to country and region to region. bavaria has canceled the christmas market. brussels giving it a go. the european commission has nothing to say, because when it comes to health, each member state decides for themselves. this weekend, protests, some violent, against covid restrictions in austria, the netherlands, croatia and belgium. pressure mounting in europe on health services as well as the streets. the world health organization warns there could be have a million more deaths here by springtime and less effective -- unless effective measures are taken. anchor: our correspondent has more on how things got so bad foeurope. reporter

it is a problem of scale all around europe. what could we be doing that might work, that might create an environment in which the people smugglers no longer had a business? well, i think by opening legal routes and safe i routes for asylum seekers who claim asylum. - the french government, - we've learned this afternoon that the french government has proposed to have british - officials processing asylum applications in france. - |this is what happens in severalj european countries that receive all of a sudden a whole wave of asylum seekers. - so they send their own police officers and home office - ministers and officials to process the asylum applications. this has to happen, - but there has to be a really honest conversation - about the politics of asylum. i think, for instance, _ in the case of this row between france and and united kingdom, there has to be a conversation. i is it really reasonable - to expect france to be policing at the cost of the french taxpayer, because it's. france who mostly pays - for the policing o

it's business news from eastern europe, eurasia. the middle east africa always applies to have been on the show ban awhile back. sim x, last cuts are all righty. so the natural gas crisis in europe, let's talk about that. everyone has an opinion or an accusation on who's to blame. what's going on? what are your thoughts on this? i, i think it's certain there's, there's been a perfect storm and everybody's been accusing russia carrying the gas in order to use it as a weapon against specifically ukraine. but the, you, in general, however, most of what's happened with spiky prices can be put down to market force. and it's kind of complicated. i mean, it's one packet. in 2000 times there was very warm wind. and at the same time, russia. ready was in an argument with you kind of a gas transit and so builds up massive storage and the price is plummets as a result of that. but then the following year in 2021 that was extremely cold and it went on in the spring. and so everybody used up their gas and then suddenly realize they hadn't got en

and that will eventually move into the rest of europe. but the mean time each just quarter, whether we've had that cold or pushed before that effect is spain. so max of 70 madrid, warnings us. so this no, potentially in the northeast of spain and our old friend the bore that when that comes out of croatia down the coast gussie, up to 100120 calories surprise, you can see it's potentially dangerous. that is significant. rain continues and focuses. i think the ne, a, spain, or southern france and at some point because it will go across into those after once again on tuesday, morocco, wednesday property adria with one of the fastest growing nations in the money needed land development school track, international shipping company to become a p, middle east, and tough, or trade and money skillfully knocked down 3 key areas of develop oh, filling a promise of connecting the world, connecting the future. ronnie, cato cutters, gateway to whoa trade. there were says i was a little boy in india. my dream was to make bollywood fence. so finally i wa

the focus is on europe. lisa: very much so. austria announcing a lockdown and restriction in movement. you are seeing german cases sore and this is bleeding into euro weakness and frankly oil weakness as well as people recalibrate the global economy. jonathan: euro-dollar 1.13 and bravely with a 1.12 handle. restrictions and austria and may be more out of germany. matt miller commodore thoughts? matt: my thoughts are you see a real safe haven bid. the strength of the dollar caught my eye, but then i saw the yen is strengthening even more. investors are looking for safety. they are buying bonds and selling stocks. it is not a huge move in risk assets outside of the fx world but it is a concern. 400 cases for every 100,000 people in germany. 1000 new cases for every 100,000 people in austria. jonathan: italian bonds are curious. yields lower in italy into the ecb. that decision a month away. lisa: this ties the hands of the ecb to talk about any purchasing or and dave thereupon purchasing early. the worst you get from a pandemic

the solution is easy. europe cannot delegate the task of welcoming migrants to certain states. europe must assume as responsibilities more should be done, but the question is, what does europe not want to tackle the issue of migration? there is no strategy to keep migrants away. it doesn't exist because margaret would bypass the obstacle and was still come to italy, even pussy. it was to control boulders would be useless, their laws and documents that should be respected and that europe itself does not respect. there is no end to all this. the situation is always the same, nothing has changed. here in lamp inducer, there are no places to welcome every one. we have more than 300 and aged children who do not know where to send our reception, sensory suffering. there are too many people. the politicians are not thinking about it right now. we are collapsing, we can't go on like this. from the you. we have received only indifference and from the italian government also indifference that we seemed to spend half our lives these days online, constantly sharing our personal info with banks an

neither does the rest of europe. pushing people back out to sea would be a violation of international law. even if these people had a legitimate case for asylum it most likely will not be heard. the family with the baby who was just five months old is somali. mohammed says the greeks beat them and knocked him into the water. we requested a response from greece on this specific incident, provided the coordinates from the fax they sent to the turks but received no reply. >> take over the boat. >> reporter: he worked construction in somalia with a football player and district team manager. he says the chair group -- accused him of working with the government. >> okay, i kill you. >> reporter: turkey is rescuing them out of the water but president erdogan says turkey will no longer be the dumping ground for migrants and refugees. come legally the west says, but the system is slow, broken, how are you to apply from a country where death threats are at your door? habibi was a military pilot in afghanistan. the sea route wa

but it did resolve europe's problem. okay. and, but they are not willing to accord the same kind of policy towards the very reasons the market says that explained to us go ahead months, right. i agree, and i will also add to that perhaps that i think kind of a me term challenge here is that, well, the rules may be kind of turn into what d p r k is for china. you know, when you put too much pressure on kim and refusal kind of neat options for negotiation that may, that may play you out. you know, north korea as a strategic leverage for china against regional rival, but also and beat pain in the neck. which i think if the current policy is word spell the risk continue, then russia would have to support, shall go on. a number of things that may not necessarily be in russia is own interests. but because you don't really have a better option than you have like even longer problem on your hands. but also as i mentioned before, europeans kind of far from the truth. the role here on the one hand to complain about their security. on th

and we're in a vacuum in europe failed to protect europe. so it shouldn't be about em. are they monopoly? it should be about portfolios of different extent acknowledges including the russian vaccines, chinese vaccines, other vaccines from britain astrazeneca, very good and all this report folio different vaccines. can countries themselves a thing with higher fed check president mueller salmon, who recently tested positive for corona virus, for if we're in the kind of see the new prime minister behind a loft green on sunday of them and had previously spent 6 weeks, a hospital friend on related illness, he, i'm kill to fiala will lead a block of 5, a center. i'm center right. opposition. parties that came to power back in october, a renewed pandemic, clumped down across much of western europe. how sparked widespread street unrest on classes with police? however, the european union is distancing itself from the top security response thing that's purely a matter for national governments. ah hm. with that, since the european commission was not present at the scene of the rio

on that front, europe has done quite well. we have more than 70% of the adult population that is completely vaccinated in the euro area, and some countries are in excess of 80%. -- some countries are doing better than that, in excess of 80%. that has been a significant boost for growth and has helped governments not go back to the stringent containment measures that we had seen previously. david: during covid, were you working remotely? i mean where you running the bank from one of your homes or from a home somewhere, or were you going into the office? ms. lagarde: i spent quite a few weeks stuck in my frankfurt apartment during the first wave of covid. actually, the package we put together for monetary policy purposes was engineered around my kitchen table. subsequently when funding was more flexible, and we could move out, i went to the office a bit. the by default motivation -- solution is remote working still today, and probably until the end of january, and then we will see. david: well, you should take that kitchen table

it is a typical work -- case, an example of what is going on europe. people being criminalized for doing the right thing. helping people in need, helping refugees and migrants in need. they must drop the charges and let these people carry on with their lives. >> we will begin our discussion in a moment, but first let's go to john in athens. how do the greek people react to this particular trial. >> >> at the moment this is not well-publicized. the news is not widespread. there are other things like coronavirus claiming the limelight. but this has -- is a story that has been ongoing since september 2018 when the indictment took place. there is high awareness among the humanitarian committee -- community and the community, and the reactions are people are appalled because the emergency response center was an aid group working very closely with authorities, including the hellenic coast guard, local authorities almost post, the government, they had cleared all of the hurdles in terms of registration with the government and following the regulations and the

we feel particularly europe is very _ in europe? we feel particularly europe is very well _ in europe? we feel particularly europe is very well ahead, - in europe? we feel particularly europe is very well ahead, and | in europe? we feel particularly i europe is very well ahead, and if in europe? we feel particularly - europe is very well ahead, and if we look at the comparison to renewables, renewables are now cheaper than gas. so clearly you can get by with renewables. we are basking by there are some system issues where you need some reliability, some back—up, well, that's a transitory and very marginal in its role. so that clearly seems overstated. there is a new alliance — clearly seems overstated. there is a new alliance such _ clearly seems overstated. there is a new alliance such as _ clearly seems overstated. there is a new alliance such as farm _ clearly seems overstated. there is a new alliance such as farm today - new alliance such as farm today beyond oil and gas alliance, denmark costa rica are driving at. then make

one of many interesting — europe. exactly. one of many interesting issues _ europe. exactly. one of many interesting issues raised - europe. exactly. one of many interesting issues raised by i europe. exactly. one of many i interesting issues raised by this europe. exactly. one of many - interesting issues raised by this is that the _ interesting issues raised by this is that the key relationship for britain _ that the key relationship for britain is actually not america, it is with— britain is actually not america, it is with france, and it is disastrous at the _ is with france, and it is disastrous at the moment for the relationship, but this— at the moment for the relationship, but this is— at the moment for the relationship, but this is the geographical neighbour to the uk. this is the country— neighbour to the uk. this is the country with many common interests in terms _ country with many common interests in terms of— country with many common interests in terms of security, similar size, economy, — in terms of security, similar size, economy, etc. and yet the

it's business news from eastern europe, eurasia. the middle east africa always applies to have been on the show ban awhile back. is sim x. last sketchup, all righty. so the natural gas crisis in europe, let's talk about that. everyone has an opinion or an accusation on who's to blame. what's going on? what are your thoughts on this? i, i think it's certain there's, there's been a perfect storm and everybody's been accusing russia carrying the gas in order to use it as a weapon against specifically ukraine. but the, you, in general, however, most of what's happened with spiky prices can be put down to market force. and it's kind of complicated. i mean, it's one packet. in 2000 times there was very warm wind. and at the same time, russia. ready was in an argument with you kind of a gas transit and so builds up massive storage and the price is plummets as a result of that. but then the following year in 2021 that was extremely cold and it went on in the spring. and so everybody used up their gas and then suddenly realize they hadn't go

europe not to intervene and do any kind of where ups that could happen in eastern europe. cornelia, you have winter and you have energy crisis. how are we to blame? is it the post pandemic recovery? is it russia or is it weather related events, particularly last winter? it is the perfect storm you had last winter. you had such a cold winter that starch was on plenty shed, and i have some sympathy for gas brom again for 1st filling their own storage because they had a cold winter too. so dare, storage shoe, it was, was deplete that to, for 1st you know, you 1st look after your own people and then then you go further. so, so that's one thing. then we have obviously the competition as was mentioned between them, asia and europe for l. n. g, big because china is importing more and more l n g this year, china will become the largest import, the globally of l. n. she, it will, it will supercede japan in that position. and so, so we have another see, we have some geopolitical tensions, but bed bed mainly it's the perfect storm of supply and demand. and when he comes to price, yes, obviousl

but, you know, the top teams in europe. but, you know. come _ the top teams in europe. but, you know, come here _ the top teams in europe. but, you know, come here in _ the top teams in europe. but, you know, come here in old _ the top teams in europe. but, you know, come here in old trafford, | the top teams in europe. but, you i know, come here in old trafford, our rivals_ know, come here in old trafford, our rivals of— know, come here in old trafford, our rivals of the _ know, come here in old trafford, our rivals of the city and our neighbours and play the way we played — neighbours and play the way we played and it was really good. in played and it was really good. in manchester, the derby mean so much. for one coach, it may yet decide his future, but these were two teams from one city in very different places. joe lynsky, bbc news. city's win closes the gap on chelsea to three points. the leaders were left to rue a number of missed chances — as they were held at home to burnley. the game finished 1—1 at stamford bridge. matej vydra with burnley�*s equali

it is a problem of scale all around europe. what could we be doing that might work, that might create an environment in which the people smugglers no longer had a business? well, i think by opening legal routes and safe routes - for asylum seekers who claim asylum. | the french government — i we've learned this afternoon that the french government has proposed to have british - officials processing asylum applications in france. - |this is what happens in severalj european countries that receive all of a sudden a whole i wave of asylum seekers. so they send their own police officers and home office - ministers and officials to process the asylum applications. this has to happen, - but there has to be a really honest conversation - about the politics of asylum. i think, for instance, i in the case of this row between france and and i united kingdom, there has to be a conversation. is it really reasonable - to expect france to be policing at the cost of - the french taxpayer? because it's francel who mostly pays for the policin

it is a problem of scale all around europe. what could we be doing that might work, that might create an environment in which the people smugglers no longer had a business? well, i think by opening legal routes and safe routes - for asylum seekers who claim asylum. the french government, we've learned this - afternoon that the french government has proposed to have british officials processing asylum j applications in france. |this is what happens in severalj european countries that receive all of a sudden a whole wave of asylum seekers. - so they send their own police - officers and home office ministers and officials to process. the asylum applications. this has to happen, - but there has to be a really honest conversation - about the politics of asylum. i think, for instance, in the case of this row between france - and and united kingdom, - there has to be a conversation. | is it really reasonable to expect| france to be policing at the cost of the french taxpayer, because it's france who mostly pays for the policing of the

biggest economy in europe, the engine of europe's economy in germany, is christine lagarde going to have to rethink tapering of that bond buying program? jonathan: you don't enjoy those ecb presses? does that not do it for you? matt: no. i've gone to way too many. ever since the woman poured pink powder all over mario draghi -- jonathan: i remember. matt: they've increased security to the point where it is not fun. jonathan: i think it was confetti. 1.1280 nine on euro-dollar. euro weakness. good morning. romaine: whatever the ecb and other central banks decide, investors have decided l to airlines setting up for a fourth straight day of declines. we've seen weakness all week long in travel stocks in the united states while the lockdown chatter is still over in europe. there is concerned it could feed into the u.s. markets. zoom, pellets on, netflix -- peloton, netflix all higher as people bet as we head deeper into the winter season we could be hunkering down. zoom shares up 2% on the day. got to applied material earnings. the ceo talking about supply chain issues and quantified the imp

in the transformation in europe, at the end of the spiking ventures who managed to engage and set them out stretching out north north sea and the coastline of the british isle and really significant way in 1795. [inaudible]. on the english coast and really the beginning of the viking proper. within down along the coast to northern france, spain, through the straight and deep into the mediterranean. as far as italy and also swedish inventors unable to take their ships down the river, the deep river and all of the way to the roxie and then half of the eastern - becomes vulnerable to viking attack during this two other years the marked the heyday of the viking. now, that is the part of the viking story that we tend to run into and discuss in the history books of course is another chapter to this book, chapter and usually andch on which is te expansion and expression of the norwegian viking adventures into the atlantic ocean. and to iceland and greenland and then t finally finally by the yr 1000, to the shores of north america. so that's the usual information we have with the viking age in

and this is now being abused by autocrats at europe's borders. and there are several ways of trying to deal with that. one of it is what denmark and united kingdom are not trying to do which is to, to sort of our source solemn processing. it's very hard, but i think if the whole, if this would be taken up at the u level, than the id to sort of allow people to apply for asylum in the region. and then one that when they get the yes they, they can, they can come to europe. if not, they are, you know, repair traded from europe to, to death reception center. i mean, that kind of a system could indeed settle the situation, but you've opened up all about taking it up your words. we're taking it up to the level. going to come back to you in a moment about that. but before we go that far, wanted to bring in the liana and ask this question. who's winning the game so far? liliana? well, i would say to right now the commission is white, the table phone has been laid out. very nice. so we are able to manage it on our own, but you know, maybe if you truly will

we start off with the covid-19 crisis in europe. in response to skyrocketing cases, austria has gone back into full lockdown, the first country in europe to reimpose a nationwide shutdown as a surge in coronavirus infections hits the continent. for the next 10 days, people can only leave their home to work, exercise, or shop for essential items. >> traditional shopping has been out the window in downtown vienna, making windowshopping for some a second best alternative. it is the fourth wave of the pandemic in austria. most people understand the need for nationwide restrictions, but it does not mean they trust the government to lead them through the crisis. some say false hopes were raised too often during the pandemic only to be dashe shortly afterwardsd. >> we have had all these promises broken, one after the other. we don't have a government that we can rely on. >>>> reporter: politicians are asleep at the wheel and there is no consequences if, the doctor makes a mistake, they probably can't work again, but a politician can do wha