>> it is crunch time. germany's highest court is set this week to rule on key changes to the way the eurozone is -- one politician is trying to delay the verdict. but he has asked the constitutional court to -- >> he has asked the constitutional court to delay its decision. >> these new tools were championed by the german chancellor herself. >> the court is reviewing its request that it review its long- awaited ruling on whether to let it bailout fund pass into law. peter gauweiler file the request in light of the central bank's announcement that it will buy unlimited amounts of bonds from troubled eurozone countries. for the far left, too, it is
reason for a rethink. >> if the european central bank goes this way, we will not need a bailout mechanism. the bank itself will do the bailing out. it will not have to consult any parliament. >> the ecb's decision to buy barnes has raised fears that national parliaments -- buy bonds has raised fears that national parliaments will be sidelined. the president of the german parliament try to ease those fears. >> whatever justifiable objections may be raised regarding individual measures, what is certain is that it will definitely remain subject to parliamentary debate and consideration. >> germany's opposition has defended the bank's decision. they say chancellor merkel failed to contain the crisis by acting too slowly. for them, peter gauweiler's appeal is an indictment of his own coalition government. >> he should be attacking merkel, saying that she should put a proper system in place.
>> a more effective system is what everyone in the german parliament is calling for to resolve the euro crisis. only, there is no agreement as to what that might be. >> we have been following the story from parliament here in berlin. we asked whether peter gauweiler's last minute legal challenge is likely to succeed. >> the government does not seem to think the chances are very high. it believes the court will rule on time on wednesday and in favor of the bailout mechanism's constitutionality. most legal experts seem to agree with that, largely because come in the past, the court has endeavored not to obstruct political -- because, in the past, the court hasn't ever not to obstruct political decisions about the euro or to stand -- has endeavored not to obstruct political decisions about the euro or to stand in the wake of bundestag policies. they will buy up the bonds for
indebted countries to apply for assistance from essentially undercutting parliament's budgetary rights. parliament did confirm the bailout mechanism in a parliamentary vote this summer. will the high court by that argument? we will know for sure tomorrow. the court is sitting right now, trying to decide whether the argument has enough weight to delay its decision on wednesday. >> we will bring you that decision when it comes out on tuesday morning. in the first-strike two for -- >> first strike two for greece. >> a senior greek official says inspectors have also rejected public-sector costs, demanding a bolder plan -- public-sector cuts, demanding a bolder
plan. this in a country where workers cannot be fired by the cost -- where, by the constitution, workers cannot be fired. >> the greek government hopes that proposals are enough to convince its international creditors that the country is doing enough to sort out its problems. >> we submitted our proposal for the 11.5 billion euros to the troika. the measures are being assessed. it is a difficult discussion because the measures are difficult. we are trying to convince than that our program is the correct one. -- condense them that our program is the correct one. -- convince them that our program is that correct one. >> the greek government wants more employees sacked from the public sector. until agreement is reached, we will not get the money they need to keep from going bankrupt. >> now to our man in athens.
can the government deliver the goods on the troika's demands? >> as you mentioned in your report, the finance minister has said the negotiations are very difficult. the sticking points seem to be that the -- be the two members of the left-wing coalition government are very opposed to new cuts hitting pensioners and people who they say are least likely to be able to cope with any new austerity measures. also, one in four greeks are employed in the civil service. both of those parties also believe there should be no more firing of civil servants. >> because of that disunity within the coalition, is there a risk it could fall apart? >> hanging over all of these negotiations is the question -- if the government does come up with a series of measures that they say that -- that the
troika says yes, then they have to get those measures through parliament. it has been very interesting the last couple of days. the opinion polls have shown that all three members of the coalition government have lost support. at the moment, i think you are getting a lot of political posturing going on, if you like, a people -- politicians saying they oppose the measures. >> just very briefly give me a comment on this other story this week -- the german court that is handing down its decision on the esm. >> the court's's decision will not have a direct impact on the greek bailout -- the court's decision will not have a direct impact on the greek bailout. if the court rules that the bailout fund will go ahead, then the greeks will see that as a sign that european leaders want greece to stay in the e.u.
it is against them, greece will see that the pot of money that is going to be available -- if it is against them, greece will see that the pot of money that is going to be available will be less. >> stocks in europe took a breather on monday after a big rally at the end of last week. our correspondent has more from frankfurt. >> people on the floor were nervous and optimistic at the same time. share prices went this way and that way. in the end, there was not much movement in the dax. at the same time, there was optimism -- optimism on the promise of a european central bank to buy lots of government bonds of countries. above all, the optimism, the hope that the csn would be given the go-ahead -- the esm would be given the go-ahead by the constitutional court on wednesday by germany. what would happen if there was a no from the constitutional court judges -- people would rather
not think about that. probably it would come to a severe downward correction, a severe slide that nobody really knows about ahead of time. >> let's get a closer look at the numbers. in frankfurt, the dax is not doing a lot on the day. unchanged. similar story for the euro stoxx 50, seven at 2528. in new york, the dow jones industrial is down just fractionally, 13,290. euro-dollar is trading $1.2759. >> we cannot go away from business. french president francois hollande says he has a plan to turn around the country's economy in the next two years. >> outlined the details of the plan, which includes a major hike for the country's rich. he wants a 75% tax rate for those making more than 1 million euros per year. >> french's resist -- france's
biggest man is -- france's richest man is being accused of leaving to pay fewer taxes. >> he became the richest man in france by selling luxury. then he caused a stir by making a decision that not all french could understand. he said he wanted to become belgian. >> yes, indeed. he has applied for national belgian -- for belgian nationality. >> he apparently bought a house in this wealthy neighborhood of brussels. he refuses to disclose the address. rumors flew that the biggest -- the business magnate was fleeing his homeland because of the new tax on the rich. france's opposition had a field day. >> despite the uproar,
presient francois hollande insists he is going through with it. >> this tax is an important part of measures to address the nation's finances. once those are successful, it can be abolished. >> for his part, he has denied he is becoming a tax exile. he insists he will remain a resident of france and fulfill this fiscal oblations -- obligations, like all french people, rich or poor. >> we will be asking young people what europe means to them. first, let's get you up-to-date on this story -- the most expensive bailout of the american financial crisis seems to be nearing an end. the white house announced it will sell stock and aig to the tune of $18 billion -- sell stock in aig to the tune of $18 billion. the sale will bring the government's stake in the insurer down to 20%. aig still owes u.s. taxpayers about $23 billion. >> he has already said he only
has a slight chance of doing any better than his predecessor. lack gardini -- lackdar brahimi has begun his job. the veteran algerian diplomat has reached -- has worked for peace in numerous crisis areas. this will probably be his hardest assignment. >> for many, he represents a last chance for peace. he is in cairo, talking to the arab league. most delegates agreed that the bloodshed must be stopped. but everyone is acutely aware of how little power the arab league has to intervene. syrian activists in cairo say that is just not good enough. for seven days, they have been
on a hunger strike. they say they are prepared to keep going. >> we are waiting for action. we have had enough of diplomatic rhetoric. we need action. >> but for now, international intervention looks highly unlikely. brahimi says no miracles can be expected. >> it is a tough mission, but i have to try to help the syrian people. i will travel to damascus in a few days to start a dialogue with all sides. >> stronger words came in geneva, where the un secretary general ban ki-moon demanded justice be delivered against any war criminals or human rights violators on either side of the conflict. fighting continues across syria. the rhetoric of the diplomat, so far, has not made any impact. >> london has officially capped off its summer of sport with a spectacular closing ceremony for the paralympics. >> we'll have more on that later in the show. first, some other stories making
news. iraq's vice president said he will not return home until he is guaranteed security and a fair trial. tareq al-hashemi is currently in exile in turkey. he was sentenced to death on sunday 40 the politically- motivated murders. iraq -- on sunday for two politically-motivated murders. >> in south africa, thousands of miners remain on strike, despite the deadline to return to work. workers are demanding wage increases and better working conditions. labor unrest is posing an increasingly serious challenge to the african national congress power in south africa. >> in rome, police have broken up a demonstration after several protesters threw bottles and fireworks at officers. several people were injured. the demonstration was organized by alcoa workers who want the government to say they're threatened aluminum plant. the shutdown would put around -- to save their threatened
>> welcome back. we start this half of the show in kosovo. they have taken another important step toward independence. >> they have cut the cord formally ending its mandate to monitor the albanian majority's protection of minority rights. >> some will stay on to keep and lead on ethnic violence -- keep a lid on ethnic violence. >> there are still parts of the north that continue to be propped up by syria. >> on monday, the young republic of kosovo made the transition
from partial to full sovereignty. the former president of finland flew in for the ceremony. the prime minister of kosovo, hashim thaci, greeted the 30- person delegation. he said this was a historic moment and his country had made a great deal of progress. in 1999, a different story. kosovo was racked by war and ethnic cleansing. the catalyst was years of oppression of the albanian majority by the serbian authorities. after the 11-week kosovo war in 1999, nato took control of kosovo, which was a province of serbia. in 2008, kosovo declared independence. the border between syria and kosovo was secured by international troops. outbreaks of violence were common, even against the peacekeeping force. a german general has taken command of the k4 mission.
the troops are about to be beefed up. a former commander use this development with mixed feelings -- commander views this development with mixed feelings. >> things are relatively calm. >> punato peacekeepers and polie will remain in the country until protection can be ensured. >> the ongoing eurozone debt crisis has started to reveal a growing divide between its member states, with more and more question in the european single currency -- question in the european single currency -- questioning the european single currency. there are those who dare to hope the crisis could lead to more unity in the end. here is more. >> nothing symbolizes the dream
of european unity more than the euro. but the currency is coming under increasing pressure from the financial markets. is the euro really doomed? or is there hope? >> money is always a combination of hope and fear. right now, fear is gaining the upper hand. we have asked why people are scared. it's because they keep getting told they have a bad currency. but the currency is strong. >> the euro has lived up to the promises made for it at the start. the exchange rate remained stable and inflation is low, despite the crisis. the euro has boosted international trade, benefiting strong exporters like germany. >> it has boosted the european economy for nearly seven, 88 years -- 7, 8 years. euro helped tackle the financial crisis. and this is not about a currency
crisis. it is about instability in the political system which is weakening the currency. that is why we need political union -- to remove this instability. >> that would mean making more decisions at the european level. it would mean giving more power to the european parliament and turning the commission into a real european government with an elected president. many are saying that more democratic institutions and more centralized power or what europe needs for the future. >> can i guarantee my children the same standard of living that i have today? that is my vision. but we will not get that if we split into 27 individual units. we need a strong, unified political union. >> the world of tomorrow is not 198 member states, nation states. a number of big nations and empires. china, india, brazil, the u.s.,
japan. if we want to play a role in the new world order, it is only by creating a federal union. >> many in the european parliament believe the current crisis will be a catalyst for change. instead of the eu breaking apart, they want it to grow closer together -- a more integrated, a political union. >> the crisis has put europe on the spot. revealing flaws in the union and questions about its future stability. what does europe's younger generation make of it all? what does europe mean to them? >> here are some opinions we heard on the streets of madrid, brussels, and berlin. >> ♪ berlin berlin >> europe is my home. it is an opportunity to be part of many different cultures in a single region. >> peace.
>> for me, it means a lot. i am a student and i realize that after i'm finished, i can travel in any part of europe by what do. >> i feel more european than german. europe is a good thing. >> we are all in it together. that is not always easy. >> i feel that europe is the most important step spain has taken in a long time. >> a single currency -- >> europe is very important and crucial in the long term. disaster in the short term. >> opportunity, jobs.
europe is a very advanced continent. the living standards, in general, are higher than in spain. >> i would like to see the european union for their united. spain could learn a lot from europe. i hope we continue to develop -- further united. spain could learn a lot from europe. i hope we continue to develop. >> ♪ >> europe is a good idea. right now, there are too many differences and misunderstandings between eu countries. >> europe is pretty near dead right now, but it will revive. we must remain united. we all share a cultural identity. dam it europe has grown into a single entity. that is our strength -- >> europe has grown into a single entity. that is our strength. >> it is up to grow our future -- up to us to grow our future. >> now a perfect ending to a perfect summer -- london is
looking back at a sporting event of the century. tens of thousands of fans took to the streets to celebrate their wins. great britain's: pecans paralympic athletes bring with pride -- great britain's olympic and paralympic athletes brimming with pride. >> a crowd of 80,000 spectators joined athletes for the closing ceremony. it was an emotional and fitting close to a successful paralympics that saw unprecedented crowds. >> these have been, quite simply, amazing paralympic games. without doubt, in my mind, it was the greatest ever. >> there was a high standard of sporting excellence. richard thrilled the crowd with his 200-meter world record.
a driver of italy claimed gold twice in hand cycling. an australian has a stunning eight gold medals. there was a gold in the 100 meters, though the race was overshadowed by his teammate accusing him of cheating. there were similar problems after the 200-meter race. oscar pistorious suffered a shocking loss and claimed that his opponent's blades were too long. the paralympic committee will have to address some of the issues over the rules before the next games. the closing ceremony featured a performance from coldplay, rihanna, and jay-z. london has taken its final bout. the spotlight now moves to rio de janeiro.
rio may have its work cut out outshine london. -- cut out to outshine london. >> one of our correspondence is joining us in the studio. as far as the -- one of our correspondents is joining us in the studio. as far as the paralympics go, was this a coming of age for the event? >> they have numbers to back them up. there were 2.7 million tickets sold. that is a new record. 11 million people in britain tune in for the opening ceremony, shattering the old record. london has done a great job. there is much more interest than there has ever been in the past. >> we have to talk about the controversy. there was some about the rule -- about the technology. >> the story that grab the most people's attention was oscar
pistorious, the sprinter who claimed that one of his competitors' blades were too long. the first case of "blade envy" in the event. it highlighted that technology is playing more of a role in sports. one thing that has captivated people about these games, you really got to see things that were out of the ordinary and unusual. you could not believe that people were doing these things. i think that is good for everyone in society -- to talk about these issues. >> thank you 3 much for joining us. -- thank you very much for joining us. we will be backed with more -- back with more news. >> see you next time.