i don't see italy leading such a coalition. i see italy becoming part of a bigger group if a bigger group is to reform somehow. >> what does this caretaker regime made for the government's ability to take on new initiatives? for example, italy is the biggest recipient of the eu's covert recovery funds, but seeing is that money is tied to certain reforms that italy must take, do you think that italians might lose out on the next installment? >> no, i don't think so. the current government can carry on with normal processes. i do not think the money is at risk. of course there will be a new government. that government will decide what to do with the recovery funds. my view is maybe very different from what you may have heard. the money we get from the european union -- first of all, it is money that ultimately comes from the financial market. the european union raises funds in the market but then passes part of the money back to member states, so the ultimate investors are the financial markets, like happens normally. the europea

could that be a possibility for italy? mister miss maloney, for her part has been very triumphant with this suggestion of possible election saying that the will of the people will be expressed by voting. now it's interesting to note that these 3 parties that did not that bought that. so this result of a resignation of mr. druggie, all the 3 parties that mr. druggie wanted to and be a part of the coalition. they were in the past, very much allied with me put in, i mean mister bell is going for his spot vacation to the former with the russian leader. mister v neopost e u. sanction and on when crimea with an axe and mister county from the fight double. when didn't want it's lead to said military 8 to ukraine. it's interesting to note that that is very much in contract with mister drug was very much in support of the ukrainians in that bull. thank you for that same a gutter in rome. so let's see how this lady stepped out of turmoil in italian politics is being viewed in the holes of the european union. welcome jack. power coul

how did you get in italy? well, i was talking about how the figures speak. i just mentioned that you cannot call anemic, done until you have already done the procedure to interview and identify the person. so it reach back to my country in 2001 i completed my results of that and that creating all the way through the northern doctor. and i found myself in maybe because the given situation and the countries where i had to cross was not to bring. so i have to to constantly migrate. ready and leave of the day, what i find upon my arrival of media was only my natural job exclusions made. and all of the system was being found that european under italian government. and when i tried to grow this d, i was supposed to been late or intercepted and pushed back to detention centers. these only happened not once or twice and with all these in the continuous experience of human nature. but i have to do or, and seeing loved ones drawn to see my friends and the people that i loved. the just got there resorted to the official and informal detention center all which is fully

and now italy has been looking at ways to invested that money. and let me tell you as a professor of finance, this is exactly the thing that my students, if they do that they will fail. they called all fine. and so $1.00 to $1.00 in the 1st year. you do the other way around, you 1st to least the projects you rank them according to the highest the return or you see how much money you need. you cut alignment to the projects a day to do not to go over a certain hard though, right? right, look at the, how much money you need and then you go and borrow it. so this recovery plan that actually needs to be re looked at the 2 because it's very inefficient. it say that that which is certain and returns that are very uncertain. and even draggy with his own signature admitted that these has a fiscal multiply or 0.9. so basically borrow, do round numbers 200, but we get the sake of time, let me jump in there because i suppose the question that i have now for a giovanni and then i'll come over to eleanora, is that, do you think that the, the giovanni 1st to yo

once again at the center of a political tussle in italy. the interior ministry says more than $39000.00 asylum seekers arrive by boat this year. that's 10000 more than in the same period in 2021, most migrants and refugees trying to reach europe undertake the perilous journey across the mediterranean. the small italian island of land producer is one of the closest stops on the route from north africa. it's reception center can't handle the number of arrivals and is more than 500 percent over capacity for politicians seized on the influx ahead of the snap election in september, former interior minister mattie rosaline, who's on trial for blocking boat arrivals in 2019, says italy has failed to defend its borders as haskin. i'm now reports from number 2, so the aquamarine waters of the mediterranean, surrounded by craggy cliffs, keep luring tourists to these cones. however, vacationers aren't the reason. the small italian island has made headlines in recent years. in 2013368 migrants and refugees died. when an overcrowded boat capsized dear l

we've seen in italy some pro draggy protest. people are on the streets, obviously here in brussels, in the european union institutions they cannot say. or they cannot make comments on the, the sort of machinations of national politics. but i think it's understood that he was seen as a pro european somebody who understood the workings and also on many of the big relevant issues in brussels. he was on the same page as many of the leaders on in other capital, specifically, france and berlin. now, italy is an important you member state, it shapes european policy on ukraine and russia dragging himself made a high profile visit to kia not long ago. could italy's position on the war now change under a new government? yes, i think that's very likely, especially when you look at the positions of the tennessee that you know, the league party the far right party, they have a very different position. you're right. he was a really strong proponent of ukraine and especially when it comes to the u. accession process. he was one of the 1st lead

back to within italy, m. we have this content to growing only 2 weeks ago we had the massive taxi drivers. crowd tested, a pretty much block to the whole center aroma, with tori stir in our getting into cale, sir. we have the people who complain still about the way that the government to del to we the lockdown. they call the crisis center for georgia moloney almost the respective all her views are, are irrespective of the convent just being in your position almost gives you 5 to 10 percent point to just for not being in the government or giovanni. is that how you see things? i mean this, this, this leader of the right wing party, the brother is of it's in the maloney a. she's her party is accused of attracting the support of neo fascist. she holds nationalist views on migration social as well as cultural issues. does she appeal to the italian voters, giovanni? i think, i mean, you can, i was right sir, but i would qualify some of the things that you were saying in italy, either right in country and the con, t

my northern italy depends on the poll river. it's 650 kilometers, span the country from west to east. it is a source of life for all around it, but water levels have been dropping continuously over the last few years. so this summer, large parts of ellis, longest river essentially are looking like this. i'm walking on what used to be the pose river bed. and if you have a close look here, you can see the bottom is actually covered in what is see shells, right? and this is dramatic for a number of reasons. some the people here in the region depend on this one for drinking water purposes to create energy and also for agriculture. areas are now competing for the remaining water. a state of emergency has been declared and many reaches experts say the situation is likely to occur again, but there are certain precautions that can be taken to alleviate future drought. it boats as they might be there, is focus on increasing the water storage capacities. the vase, meaning we're storing walter in winter while in big or small reservoirs in

how did you get into italy? well, i was talking about how the figures to speak, i just mentioned that you cannot call person anemic. done until you have already done the procedure to interview and identify the person or if they reach back to my country in 2001 i completed my results so that and that rating all the way through the northern to dr. jobs and i found myself in maybe because to give it a situation in the country, it's why i had to cross was not rain. so i had to to constantly migrate and leave of the day. what i find upon my arrival of media was only my natural job exclusions mates, and all of these 15 was being fun that european monday, talent government. and when i tried to grow this d, i was supposed to been late or intercepted and pushed back to detention centers. these only happened not once or twice and with all the, the continuous experience of human nature. but i have to do or, and they're seeing loved ones drawn to see my friends and the people that i loved just got there resorted to the offi

all the other chaos going on in italy. in a broader sense, not only do you have very high debt levels in developing economies, but they took on debt in the wake of a global financial crisis, doubled down in a financial crisis, and the intervene a bit. now, they have to counter any time fed moves interest rates, with interest rates of their own. sri lanka is the extremist example. it is a cautionary tale. had to default on their debt as they try to subsidize food and energy. another aspect that is very important is that many of these emerging markets, the debt issued is sitting on their commercial bank balance sheet. that creates a doom loop. if they were to default on their debt, they are also defaulting to their own commercial banks, which could cause another credit seizure. we have already learned there is no las vegas in the global economy. what happens abroad washes up on our own sure. that is the aspect of it that makes it a bit of a tight rope walk for the fed, even though they are committed to raising rates. kriti:

yeah, i made dick crossing into italy on the 21st of june. and it was a very enjoyable journey because i was asking for regular roads that enter on, but i was denied access even by that she didn't are part of the wrong one. i was just telling lydia being persecuted by the libyan, that storage is on. it's many just trying to speak about what was happening. so i had to hop on on the door and into boat, which was a sudden and unworthy for the sea journey, but likely admitted to italy is still a good match with the different challenges. because has he said before we were being called enabled before we even landed in today. and terry, don't andrea, you've heard david younger david oliver's story there. this is a failure of policy almost on every single level. surely just explains what those failures might be. well, actually this is a long story. italy has been struggling with migrations phenomenon for 4 years now . so you cannot really call it a sort of emergency right now, if you have politicians trying to figure out a crisis, because that is act

and now italy has been looking at ways to invested that money. and let me tell you, professor of finance. this is exactly the thing that my students, if they do that they will fail, can all finance, so one to one in the 1st year. you do the other way around, you 1st, it least the, the projects you rank them according to the highest the return or you see how much money you need. you cut alignment to the projects a day to do not to go over a certain hard though, right? right, look at the how much money you need and then you go and borrow to. so this recovery plan that actually needs to be re looked at the 2 because it's very inefficient. it's a debt which is certain and returns that are very uncertain and even draggy with his own signature admitted that these has a fiscal multiply or 0.9. so basically borrow, do round numbers 200 and we get the sake of time, let me jump in there because i suppose the question that i have now for a giovanni and, and then i'll come over to eleanora. is that, do you think that would be the giovanni 1st to you? is this

as the also justine in the video from, from italy. not saying that there is a consequence eminent, but we do see how it directly thomas and livelihoods of being affected and in regions. but this is all people can differ from. of course this needs to very, very existential conflicts. and that's something we need to be very, very about. what can the world do to assure that water continues flowing, where it's needed? well 1st and foremost, and it's most important on so we need to address things with climate change and we need to reach global and your mission as soon as possible in line, mr. goodman, that's our best chance to limit the future. we are concerned about drugs to be experiencing today at $1.00 degrees of warming, pre industrial levels. we can extrapolate how much work the situations would, could be potentially if the bed crossing 2 degrees. and of course, essentially limiting want me to 1.5. basically, avoiding diversity picked up lot of changes of paramount importance to the wants of resources in the next that we also regiona

so that is the potential of tpi if a country like italy, if the idea was not to support italy i don't think they would have done this instrument. i think they want to be flexible enough in order to support the markets they are going to support. it is whatever it takes. that is the way i take it. tom: i probably predict the answer to this question, but around the debt burden of italy and the ability to refinance, presumably you are relaxed about that ability, but when does not become a problem? what metrics are you looking at that would be a red flag for you to say, ok, this now becomes an issue? marina: i think it is a combination of instruments which must be considered -- we have to see what happens in the next few hours. i think italy is going to have a shorter -- if we go for snap elections then we are going to have a shorter period of volatility, because in this particular time there may be, i think all parties will need to say what they want to do, and nobody is going to safety nrrp. there will be answers regarding what sort of instruments they want to apply, what measures, what

could that be a possibility for italy? mister miss maloney, for her part has been very triumphant with this suggestion of possible election saying that the will of the people will be expressed by voting. now it's interesting to note that these 3 parties that did not that, that so this result of a resignation of mr. druggie. all the 3 parties that missed the drug. you want it to be a part of the coalition. they were in the past, very much allied with vladimir putin. i mean mister bell is scone for his spot vacation to the former with the russian leader. mister v neopost e u. sanction in on, when crimea with an axe and mister county from the fight double. when didn't want it's lead to said military a to ukraine. it's interesting to note that that is very much in contrast with mister drug was very much in support of the ukrainians in that bull. thank you for that. seem a gutter in rome. now brussels correspondent jack pero told me how the use seize mister jackie's resignation. while it's it will be a huge headache to see a le

back to within italy, m. we ever this content to growing only 2 weeks ago we had the massive taxi drivers crowd tested a pretty much blocked or the whole center aroma with tourist or you know, getting into cale, sir. we have the people who complain still about the way that the government a bell to we the lock down at the college crisis center for georgia moloney. almost irrespective all her views are, are irrespective of the convent just being in your position almost gives you 5 to 10 percent point to just for not being in the government or giovanni. is that how you see things? i mean this, this, this leader of the right wing party, the brothers of it's in the maloney, she's her party is accused of attracting the support of neo fascist. she holds nationalist views on migration social as well as cultural issues. does she appeal to the italian voters, giovanni? i think, i mean, you can, i was right sir, but i would qualify some of the things that he will say in italy, in the writing country and the con there, i

looking at italy, it's unlikely italy it will be able to do that if it has an election. tom: what is so important to me, i go to the great roman new york university, the high ground of the find mathematics every hedge. if they institute a fragmentation program, they have to re-hedge or restructured somewhere. how do they do that? how do you actually set a fragmentation tool, the second, third or fourth time around down the time continuum? megan: that's the trick. the idea as investors or to test is inevitably, try to figure out what the trigger points are and how much tech intervention there is. it needs to be complicated so investors can't work that out so they will not constantly tested. i don't see them pulling this off. as the story is they don't have all the details working out -- worked out which makes sense because they've only been working on it for a couple of weeks. but a soft launch is not going to work today given what is going on in italy and the concerns about russia turning gas off. it seems like nord stream one already had some gas moving through it, a te

can the ecb do to help italy but not enable italy? carlo: in terms of spending money, i think during the last 18 months the money we received from the european union was spent on all of the targets, that were met one by one. what the ecb should do, i don't know, honestly. it is a very difficult spot, because they need to announce something that is sufficiently strong to essentially prevent an attack. it is not -- without conditions attached to it. in 2012 mario draghi managed to do this because he announced something which allowed essentially infinite support as large as needed in support of a single country. but that required conditionality's to a program of european stability. nobody at the ecb now is proposing the country goes to the esm in the current situation. so they will have to announce something strong, or announce something week. anna: where would you suggest that the ecb --we will not hear this from the ecb, they will not want to talk about the level of spread that will get them involved in the market, but do you have any

we now have fragmentation in the form of prices in italy. is this the kind of thing the ecb is there to tackle and how do they navigate this? >> i think it is difficult for them in some ways officially this is not want to tackle. in reality this is what they're here to tackle. europe will never have a policy. in the end it's always the ecb that has to bail out italy in some way. they will have to come up with a fragmentation plan that will be strong to calm the markets down in this situation. they for big part next week. if they don't announce something big. alix: some are talking about heather needs to be conditions attached to any kind of money or bond buying and transmission protection mechanism. i've heard that before. if you like we've heard we will help you but there will be conditions but can italy survive something like that with those conditions? will that do the job? saadia: i think the market -- bilal: i think the market would not like it if there were conditions attached. they haven't really used that since sin -- covid introduce

the latest out of italy. the italian president has rejected nejra -- mario draghi's resignation offer after the five-star movement went ahead with threats to boycott a confidence vote on the government. the italian president did not have to accept the offer. he has other options. he could ask for mario draghi to create a new government, perhaps, one without the coalition. asking for support from other allies. also perhaps what this means in terms of elections in the fall. remember, a collapse of the coalition does not really serve anyone in the italian political space. we will keep you apprised of the market reaction. we know that on headlines of mario submitting the resignation, yields are getting higher. a key sticking point in europe at the moment. a key sticking point in the middle east comes down to the energy picture. that's where president biden is visiting now. with that update is bloomberg's annmarie hordern. give us the latest. annmarie: today in israel the focus was on israel and making sure the pr

could that be a possibility for italy? mister miss maloney, for her part has been very triumphant with this suggestion of possible election saying that the will of the people will be expressed by voting. now it's interesting to note that these 3 parties that did not that bought that. so this result of a resignation of mr. druggie, all the 3 parties that missed the drug. you want it to be a part of the coalition. they were in the past, very much allied with vladimir putin. i mean, mister bell is scone for his spot vacation to the former with the russian leader. mister albini, a post e u. sanction and on when crimea with an axe and mister county from the 5 double when didn't want it's lead to said military 8 to ukraine. it's interesting to know that that is very much in contrast with mister drug was very much in support of the ukrainians in that bull. thank you for that same a gutter in rome. and brussels correspondent jack pero told me how the a you see many drug use resignation. well, it's, it will be a huge headache to se

in italy. it is a beautiful palace not far from here. this is where the president of the republic lives. we were expecting a resignation speech from mario draghi at 8:00 london time, we did not get that. he said he would make his way to tender his resignation, we think, or there is an agreement between him and the president. despite this confusion, speaking to insiders close to the president and the prime minister, it seems base case, elections in october. mario draghi will probably no longer be prime minister after that. tom: a couple more hours of uncertainty as we wait for that meeting, or that meeting continues. in terms of how things are playing out across equity markets, we bring you to the italian equities and sectors, but the banking sector in italy is feeling the pain. the italian index is down 1.4%. across the benchmark, losses of 0.2% as we await the decision from the ecb. will they go 50 or 25 basis points? the dax is down 0.2%. the ftse 100 down 0.3%. we have two contenders as they

ah ah ah ah, this is data we news line from berlin, italy enters a new period of political instability. the president dissolves parliament paving the way for early elections as follows. the resignation of prime minister and mario drago after his national unity government collapsed. also on the program, more civilians are killed, as russian forces shall ukraine's 2nd city car. keith missiles heads a busy market, and jem and a residential building. as ukraine appears, as russia amusing cluster bombs plus and famous for as logs. but for years, the sydney opera house was notorious for its bad acoustics. enter a team of german engineers who brought the sound up to scratch ah, ah, i'm not really. it's good to have you with us. italy's president has dissolved parliament paving the way for early elections. the smallest the resignation of prime minister mario drago, after the collapse of his national unity government. the president has asked mister drago to remain in post as caretaker liter analysts say. his departure could not have come at a worse time for italy and for europe. drag is trip to

on top of that you have the political issues in italy, of course. flit the political issues in italy, of course-— the political issues in italy, of course._ they | the political issues in italy, - of course._ they give of course. of course. they give ou of course. of course. they give you your _ of course. of course. they give you your time _ of course. of course. they give you your time today. _ of course. of course. they give you your time today. you - of course. of course. they give you your time today. you are i you your time today. you are welcome. to china now — where weeks of covid lockdowns in major cities have taken their toll on the world's second biggest economy. the rate of gdp growth slumped in the three months tojune — much more than expected — to an annual rate ofjust 0.4%. and china's economy actually shrank 2.5% compared with the previous quarter. it puts a serious question mark over the government's target of 5.5% for this year. joining me now is iris pang, chief economist for greater china at ing in hong kong. retail sales, a critical gauge of sentiment in t

what is the talk and italy? the ecb is about to unveil a program that is essentially designed to deal with fragmentation. you have to wonder whether that fragmentation tool is the correct one to apply if italy has political problems. what is the italian perspective on this? >> you are right. tackling fragmentation makes sense as long as there is someone in the room and rome. if that person in the room is no longer there then insulating italy can be counterproductive because there is no incentive to do reforms. guy: great stuff, thank you very much indeed. joe biden deplaning off air force one. he is in the kingdom in saudi arabia. we think we are not going to get a deal on oil out of this trip. that has been the bloomberg reporting so far over the last few hours. we will watch this trip very carefully. we will continue to bring you the pictures as the president arrives in saudi arabia. this is bloomberg. ♪ >> strong balance sheets and a strong financial system banks are in a good shape. the nonbanking financia

italy enters a new period of political instability. the president dissolves parliament paving the way for early elections. as follows, the resignation of prime minister mario dragging after his national unity government collapsed and the turmoil hence as italy, struggles with its worst drought and 70 years for rice farmers in the north, the climate crisis could mean financial ruin. also coming up europe, breathe as a sigh of relief as russia resumes gas deliveries through the north stream. one pipeline. but a top german officials as his country is still at rush as mercy and more civilians are killed. as russian forces shell ukraine, 2nd city, her keith missiles, rain down on other cities across ukraine, south and east destroying schools, and burring people beneath the rubble. ah, uncle frilly has got to have you with us. italy's president has dissolved parliament paving the way for early elections that follows the resignation of prime minister mario druggie after the collapse of his national unity government. the president has asked mi

we'll, italy is among both countries. it has the 2nd highest debt burden in euro's own, and raising interest rates too quickly could high comp italy's debt and make it harder for it to pay. it comes to the country, faces political uncertainty. after the resignation of prime minister, mario rocky will get more into the details on how the t p i works, which we told you about in a few moments. but 1st, let's hear how some italians, a coping. can i sell it for, for euros? what i was selling too, before you know what they tell me here to close. so all of these price increases are paid for by us. the small medium business owners going on, i'm anxious, but if you try to not turn on, the air conditioning take the car last but the still anxiety because you have to think twice about doing things that were normal before. so we simply need to pay more attention and we have up here, it's impossible to get ahead this way between tax bills and everything else. it's impossible to get ahead. i walked in the morning until late more than 10

how would you rate his performance in italy so far? >> first of all, it is difficult for everybody even when you are mario draghi the optimism there was misplaced. especially with the parliament we have. at the end of the day, italy is a parliamentary democracy. you have to go through parliament to get things done. you look at the people in the parliament and that was a concern. on top of this, mario draghi had to deal with the pandemic until very recently. if we are looking at the inflation rates in italy now 54,000 people per day. nobody wants to hear about that. nobody want to talk about covid. look at september and october. and what is missing so far is the measure to promote economic growth in the long run that is missing in the facility plans. there is not much about increasing productivity and that is a challenge of the economy. i think the record is mixed. draghi now is at the end of his parliamentary term the political back drop is weakening. it will be more and more difficult for him to get things done once we get closer to t

political crisis continues in italy. mario draghi wins a confidence motion but three boycott the vote. the new president of sri lanka appeals for unity. welcome to world news america on pbs in the u.k. and around the globe. while wildfires rage across europe, and the u.s. one third of the country is sweltering unr a heat dome that spans 28 states. president biden announced he will use executive powers to address the climate crisis. he called it a clear and present danger and says it must be treated that way but stop short of declaring an emergency. >> when it comes to fighting climate change, i will not take no for an answer. i would everything in my power to clean our air and water, protect people's health, to win a clean energy future. our children and grandchildren are counting ons. it's not a joke. we don't keep to 1.5 degrees centigrade, we lose it all. we don't get to turn around and the world is counting on us. >> for more on the speech, i am joined by samantha who is the director of the energy security and climat

political crisis continues in italy. mario draghi wins a confidence motion but three boycott the vote. the new president of sri lanka appeals for unity. welcome to world news america on pbs in the u.k. and around the globe. while wildfires rage across europe, and the u.s. one third of the country is sweltering under a heat dome that spans 28 states. president biden announced he will use executive powers to address the climate crisis. he called it a clear and present danger and says it must be treated that way but stop short of declaring an emergency. >> when it comes to fighting climate change, i will not take no for an answer. i would everything in my power to clean our air and water, protect people's health, to win a clean energy future. our children and grandchildren are counting ons. it's not a joke. we don't keep to 1.5 degrees centigrade, we lose it all. we don't get to turn around and the world is counting on us. >> for more on the speech, i am joined by samantha who is the director of the energy security and clim

this is a critical moment for italy as well? it a critical moment for italy as well? , ., a critical moment for italy as well? , . . a critical moment for italy as well? , ., . ., well? it is a critical moment for italy the _ well? it is a critical moment for italy the prime - well? it is a critical moment for italy the prime list - well? it is a critical moment for italy the prime list has l for italy the prime list has done good things in terms of implementing structural reforms in making italy more stable, but if we were to see him stepping down on the back of this vote, then we could also get more attention in financial markets. the prime minister has bought stability for the country in financial markets, if we went into new elections we could possibly see a small euro crisis widening to spread to europe in coming months. thank you for your perspective. next spring and craig earle and senior analyst. next spring and craig earle and senioranalyst. parity, next spring and craig earle and senior analyst. parity, the eurodollar it was a big moment, and listening to wh

give me a sense of what italy needs now. the school of thought says we do need election so it legitimizes the government, even if it risks having absent -- password, shut up. francine: there's going to be that pressure to give that stability, particularly in the near term is those rates come off the floor in europe. as long as they can give that near-term of reassurance to markets, they're going to have the ice cream -- ice stable, i'm thinking in the short terms has to keep doing all the fundamental reforms in order to get their growth up, which is one of the main challenges, particularly with grades rising in the fragmentation risk to the euro area. tom: let's talk about that, you've got politics and the germans, the dutch as well as of others in the north of europe likely to push back on the use of the anti-fragmentation tool if it is threatening political risk. how much more complex does it make it. what are you looking for that we expected to be delivered tomorrow. francine: i think in terms of that tool, it is going to

italy enters a new period of political instability. the president dissolved parliament, paving the way for early elections following the resignation of prime minister mario draghi after his national unity government collapsed. also on the program, the ecb increases interest rates for the first time in 11 years, hoping to put the brakes on inflation in the euro zone. today's increase is just the start. europe breathes a sigh of relief as pressure resumes gas deliveries through the nord stream one pipeline but a top official says germany is still at russia's mercy. more civilians are killed as russian forces shall ukraine's second city, kharkiv, and also raining down across ukraine's southeast, destroying schools and burying people underneath rubble. ♪ i am nicole frolich. tar viewers on pbs in the united states and around the world, welcome. italy's president has dissolved parliament, paving the way for early elections following the resignation of the prime minister after the collapse of his national unity government. the president ha

what does it mean to have a political crisis in italy at this time? well, what it does me, i mean, introduces a lot of uncertainty when italians like most of the rest of your parents, are looking for more certainty this, this war raging and ukraine farming crisis, a drought that hasn't been seen in 70 years, a level drop that is in northern italy, a lot of people are concerned about their future. there's inflation, yours is across most of the world right now. and a lot of people came out and actually protested in plaza across italy, over the past few days, saying they wanted drag you to stay. they saw him with a secure hand. there were some 2000 mayors who signed a supporting pledge of but are you saying, please don't go, we need you to make sure we can get budget past the national level this year. we need you to help pass reforms that will allow tens of billions of years from the c u recovery fun to be injected into the china economy. now that said, opponents of money that you say they can do that just as well as he can. i just spoke recently before

whether italy fits criteria is a different topic. let's see how things are playing out given what we saw yesterday on wall street. there were concerns around economic data. jobless claims came in higher than some expected. factory orders looking softer stateside, underscoring some concerns around the recessionary risks for that economy. futures, when it comes to the nasdaq, pointing lower by 0.7%, digesting those very bad results from snap. euro-dollar, 1.02. the dollar is bid. not a lot of movement, but you did see a rally in yield yesterday that came off toward the end of the session as investors digested implementation and implications of that anti-fragmentation talk. brent up to 105. let's get back to the ecb. that is doubling the expected size of its first expected rate hike in a decade, saying it will determine the size of future moves. >> we expect inflation to remain undesirably high for some time. owing to continue pressure from energy and food prices and pipeline pressures in the pricing chain. >> for more, we are joined by

one day the city of — to italy and the uk. one day the city of mariupol- to italy and the uk. one day the city of mariupol will- to italy and the uk. one day| the city of mariupol will need to rebuild. will your company, metinvest, be around to help reconstruction effort? definitely. we have already announced, ourshareholders, announced, our shareholders, that once announced, ourshareholders, that once mariupol is back into ukraine, we will be working on rebuilding the city. keeping women safe is now at the heart of the world's largest dating app tinder — this is according to their first female ceo. renate nyborg has been speaking to the bbc�*s shiona mccallum about the company's new partnership with domestic violence charity no more, and says that safety measures they want people to know about will be part of the app. i met my future husband non—tender. i was on tender six non—tender. ! was on tender six years— non—tender. ! was on tender six years ago— non—tender. i was on tender six years ago until i met my boyfriend in 2017. as years ago until i met my boyf

we'll, italy is among both countries. it has the 2nd highest debt burden in euro's own, and raising interest rates too quickly could high comp italy's debt and make it harder for it to pay. it comes to the country faces, political uncertainty of the resignation of prime minister mario rocky will get more into the details on how the t p i works, which we told you about in a few moments. but 1st, let's hear how some italians, a coping. can i sell it for? for euro's what i was selling to before, you know what they tell me here to close. so all of these price increases are paid for by of the small, medium business owners going on. i'm anxious if you try to not turn on the air conditioning take the car less, but the still anxiety because you have to think twice about doing things that were normal before. so we simply need to pay more attention than we have up here. it's impossible to get ahead this way between tax bills and everything else. it's impossible to get ahead. i walked in the morning until late, more than 10 hours an

, she would not even say italy. when we look at the framework that they laid out, there are different frameworks. what is your take on how it will qualify? >> if you look at the details, at the moment, it has to be compliant. the point is, going forward, how will this play out? when it comes to politics, there are situations and how this could play out. you could assume there is no change. [indiscernible] on the other, you look at the history. that could be very interesting. dani: assuming we do get a new political equilibrium, what could that look like? especially in terms of how that applies to the fiscal landscape? fabio: it is within the center, the main policies in italy. it is very difficult. it may be strong enough for the majority in parliament. it could be key for the formation of the next government. let's assume they would not be able to have that. then we can assume there is a sort of draghi leadership. . dani: some potential outcomes there. what is that mean the fact that these elections are taking plac

plus italy grapples with its worst drought in 70 years. water levels drops your record lows. farmers are desperate and meteorologists are warning. this is just the beginning. ah. hello, i'm clear. richardson, thanks so much for joining us. we're just prime minister boris johnson is clinging to power after 2 of his most senior ministers of resigned casting fresh doubt on his integrity. finance minister richie sooner has gone saying the public expects government to be conducted properly, competently and seriously help miss minister, sasha javin has also quit concluding that he can no longer serve in good conscience . worse, johnson has faced a series of scandals over parties held at his official residence during the national cove at 19 lockdown. his latest troubles are over the appointment of a senior party official accused of sexual misconduct and now admits that was an error of judgement. yes, i think it was a mistake and i apologize for for it. i've been in hindsight it was the wrong thing to do. i apologize. everybody's been badly affect

plus italy grapples with its worst drought in 70 years. water levels have dropped to record of lows. farmers are sounding the alarm and meteorologists morning. this is just the beginning. ah. hello, i'm clear. richardson, thanks for joining us. british prime minister boris johnson is clinging to power after the shock resignations of 2 of his most senior ministers finance minister richey soon act has gone, saying the public expects government to be conducted properly, competently and seriously. help minister. i did it. sergeant job, meanwhile, has also quit, including that he can no longer serve in good conscience. no more. it has faced a series of scandals over parties held at his official residence during the national cove at 19 lockdown. his latest troubles are over the appointment of a senior party official accused of sexual misconduct. johnson now admits that was an error of judgement. yes, i think it was a mistake and i apologize for, for it. i think in hindsight it was the wrong thing to do apologize to everybody who's been badly aff

leaders in italy to back sanctions i leaders in italy to back sanctions because — leaders in italy to back sanctions because itaty— leaders in italy to back sanctions because italy political _ leaders in italy to back sanctions because italy political cloud... . leaders in italy to back sanctions . because italy political cloud... and imagined. — because italy political cloud... and imagined. atso _ because italy political cloud... and imagined, also in _ because italy political cloud... and imagined, also in france _ because italy political cloud... and imagined, also in france as- because italy political cloud... and imagined, also in france as you i because italy political cloud... and i imagined, also in france as you say, president _ imagined, also in france as you say, president emmanuel— imagined, also in france as you say, president emmanuel macron - imagined, also in france as you say, i president emmanuel macron doesn't have the _ president emmanuel macron doesn't have the absolute _ president emmanuel macron doesn't have the absolute majority _ president emmanuel macr

he joins me from northern italy, alexander, it's good to have you with us. do you see any relief in the forecast, especially for these parts of italy that are coping with this horrific drought and the same laws because the amount of rain since december 2021 until now has been lost. 15 years with the month of march, the worst it has ring a bit since june. this hasn't really had an impact on the drought. also may and june have been warmer and more. and i think that it won't really rain next 14 days . so the situation only get worse, i mean what we hear in a description of the drought of the century flood of the century is, is this a 500 year drought that italy is now experiencing if that one way to characterize it? it's really dramatic and alarming at the moment did result of the shorts of rain. a test is that the accumulated volume water in the big makes like, and make my jaw and a coma is less than 50 percent when compared to the average of the last 15 years. moreover, the snowfall has also been always recorded in the last 15 years impacting to vote, the ice

spain is 15 basis points lower italy is down 9 basis points today. not keeping up with the move in 10-yo 10-year bund on a spread. it is a bit wider. >>> turning to earnings now. posted record results for the second quarter nor norsk it nearly doubled on the year to 11.6 billion norwegian crowns. i have to say the cfo is joining us on the show just talk us through some of the tailwinds you have seen and the reason the catalyst for you posting such strong results this quarter. >> strong results this quarter and the fifth consecutive quarter with record results. the big driver is the aluminum price and premium on the aluminum prices. we are benefitting from the markets in the second quarter. we are the norwegian producer and benefitting from the appreciation of the dollar this combined with the strong earnings in recycling and greener products and high energy prices benefitting our results >> can i just ask you one of the major themes for companies last quarter, but more this quarter, is that of rising costs. how have you had to adapt to rising input c

italy is facing its worst drought in decades. the government has announced funds of over 35 million euros to address water shortages. and the state of emergency that makes it easier to access them. the emergency also allows authorities to declare water rationing. many don't see why this is necessary. >> it is a good idea to save water, gas and electricity. >> we are trying to get our children to pay attention to the importance of saving water. >> other cities are set to turn off their water fountains. the drought has hit the agriculture the hardest with water levels dropping 85% below normal. agriculture experts say the drought threatens a third of national food production. >> we have a ventilation system to help them cope better with the temperatures. >> for this artist, the battle has provided an opportunity to deliver an important message. one that the government as well as the people of italy seem to be heating. question earlier, i asked alexander dumais if he expects any relief from this drought anytime soon. >> i am afraid

one that the government, as well as the people of italy, seemed to be heating. earlier i asked me the urologist, alexander de mae in northern italy, if he expects any relief from this drought any time soon on the same laws because the amount of rain since december 2021 until now has been lost. 15 years with the month of march, the worst it has ring a bit since june. this hasn't really had an impact on the drought. also may and june had been warmer than normal. and i think that it won't be rain the next 14 days. so the situation only get worse, i mean what we hear in a description of the drought of the century flood of the century is, is this a 500 year drought that italy is now experiencing? is that one way to characterize it? it's really dramatic and alarming at the moment did result of the shorts of rain. a test is that the accumulated volume of water in the big makes like and make my jaw and in a coma is less than 50 percent when compared to the average of the last 15 years. moreover, the snowfall has also been always recorded in the last 15 years impacting t

we'll, italy is among those countries. it has the 2nd highest debt burden in euro's own, and raising interest rates too quickly could high capitalized debt and make it harder for it to pay. it comes to the country faces, political uncertainty of the resignation of prime minister mario rocky will get more into the details on how the t p i works, which we told you about in a few moments. but 1st, let's hear how some italians, a coping. can i sell it for, for euros? what i was selling too, before you know what they tell me here to close. so all of these price increases are paid for by us. the small medium business owners going on, i'm anxious, but if you try to not turn on the air conditioning take a car less, but the still anxiety because you have to think twice about doing things that were normal before. so we simply need to pay more attention than we have up here. it's impossible to get ahead this way between tax bills and everything else. it's impossible to get ahead. i walked in the morning until late more than 10 hours

even for italy the political drama has been staggering. he tried to fight to convinces right—wing coalition parties he should stay on but they have left him with few options. the prime minister mario draghi may end up resigning twice in one week. the stand—off had been brewing for some time. came to hit last week the prime list enters right—wing partners decided to see who would blink first. the populist 5—star movement had pulled out of a confidence vote on a multibillion—dollar euro package forfamilies multibillion—dollar euro package for families and businesses, events took off for them and mario draghi walked to them and mario draghi walked to the presidential palace and tendered his resignation. but the president rejected it and several protests erupted, mario draghi agreed to calls from the public were too strong and he had to carry on. on wednesday look like he would survive, the situation seemed positive until he caught impact and a vote of confidence in the senate. irate confidence in the senate. we need a new— confi

a drug is highly regarded in italy and abroad. he's seen as a safe pair of hands. why did he lose the support he needs in parliament to run the country? well essentially you have to remember that when he came into this role from 17 months ago, he was given this mandate to lead a unity government, a national coalition involving the right the left the populace. so it was a really large group of people who are very deferring ideas. and what we saw happen in that vote of confidence in the upper house of parliament in the senate on wednesday. is that the for say, the right we sent to right party as well as the far right lead party. and the popular fight movement essentially snubbed that vote the boy cost of it altogether . and so they made their decisions for different reasons. the 5 star movement, feeling that bull months, their priorities will being ignored. the push for things like a basic income at a minimum salary that they wanted to see continue. these think they felt among other things, were not being listened to. for foresight, kahlia and the lead part, the, the

and italy grappling with its worst route in 70 years. water levels have dropped to record lows. farmers are desperate and meteorologist a warning. this is just the beginning. ah, i'm bring. gov is good to have you with this on this tuesday and we begin in britain where prime minister boys johnson is clinging to power after 2 of his most senior ministers resigned today, casting no doubt on his integrity, finance minister re she soon act has gone saying the public expects government to be conducted and i'm quoting here, properly, competently and seriously. and the health minister sonjee job, it has also quit concluding that he can no longer serve boys. johnson, in good coach, of the prime minister has seized a series of scandals over parties held in his official residence during the national coven 19 locked down. his latest troubles are over. the appointment of a senior party official accused of sexual misconduct. the prime minister now admits that was an error of judgement. yes, i think it was a mistake and i apologize for, for it. i thin

ah ah, this is dw news live from berlin. italy enters the new period of political instability. the president dissolves parliament paving the way for early elections . it follows the resignation of prime minister mario druggie after his national unity government collapsed, also coming up to lumpkin. security forces de smelled, dismantled. the main protest can be in the capital, colombo, tensions remain high after the countries. warren, a new president with close ties to the nations, all stood former leader. and more civilians are killed as russian forces shall ukraine, 2nd city. hark missiles hit a busy market, a gym and a residential building. as ukraine accuses russia of using cluster bombs. ah, hello there, i'm really mohammed. italy's president has dissolved parliament paving the way for early elections. it follows the resignation of prime minister mario druggie after the collapse of his national unity government. the president has asked mister druggie to remain in post as care, take a leader, and as say, his departure could not have come at a worse time for italy and for eu