coming to you from dw in berlin. here are our top stories. francois hollande makes his debut, at a showdown with germany could be on the cards. >> and a historic day as egyptians go to the polls to elect a president. >> talks in baghdad on iran's nuclear program. can they end the standoff. well, it is being called the summit for growth, and it could turn into a showdown between france and germany with france's new president, francois hollande pushing for a shift from austerity to growth as the way out of the crisis.
>> that it's against angela merkel, who has been the strongest supporter of austerity. them at the idea is to pool debt between all the eurozone's member states. it is a proposal that has come up many times over the past couple of years. >> francois hollande says it is time to get eurobonds' back on the table. >> this is the first eu summit for france's newly elected president, francois hollande. since his win on a campaign, focus has shifted to restoring growth in europe. hollande says eurobonds are one way to prevent further recession. >> the question is -- what are the best instruments and means to promote growth? eurobonds are part of this discussion. >> hollande's decision has the backing of seven nations, but german chancellor angela merkel insists eurobonds are not the answer, and not just
because they would violate eu treaties. >> eurobonds will not contribute to growth in the eurozone. it was a similar interest rates we had for many years that led to the severe problems we are having to deal with now. i'll be putting forward proposals that have already outlined. >> merkel's ideas include greater label market mobility and additions to combat high youth unemployment. she is in favor boosting growth, but without running of new debt. one observer has dismissed this as a showdown between merkel and hollande. >> these silly little games, sandbox fights -- they do not interest me in the least. >> it will not be clear which can prevails until strategies are put to a vote at the annual june summit. >> let's cross street over to brussels. first of all, let's talk about eurobonds.
obviously a big issue tonight. are we really expecting this to be a genuine showdown between paris and berlin, or do you think hollande is using this as a bargaining chip? >> the french call for eurobonds has been and is very loud clear the problem is that francois hollande, the new french president, has not release said what he means when he calls for eurobonds. are they really, in debts, or are they project-related bonds you can take out for a certain time? he has not said that, and he has to make that clear to his colleagues tonight. angela merkel has been saying she has not changed her position, she still stands where she is, that she wants to focus on consolidating countries' budgets. the positions seem to be opposed, but they are fighting for the same thing. but the focus of the attention is shifting, and hollande is getting more focus for his position, but maybe that is because he has not said what he means.
>> whatever eurobonds maybe, there are a lot of other issues at stake tonight, especially things that can promote growth in the eurozone, and certainly, hollande will want to take some victories home after his first summit. >> it is important to keep in mind that this is an informal working dinner. there were never any decisions expected. it is an open exchange of ideas. there are plenty of ideas on the table, and some issues are a little bit easier. take the project bonds, for example. these are mechanisms with the european interest bank gives out money to finance infrastructure project. there seems to be an agreement that the european investment bank needs more money. these are all things that francoise hollande can take home with him, and, of course, the general feeling that the focus of the debate is shifting away from austerity towards growth. >> thanks for that. we will be coming back to you later on in the night.
>> the contrasting fortunes of eurozone countries has again been highlighted on financial markets. while some are seeing borrowing costs soar, germany's are hitting record lows. >> today, germany issued billions of euros that bonds at virtually zero interest. despite that measly rate, the offer was actually oversubscribed. >> investors snapped up the 4.5 billion euros, even though they will not receive any interest on their investment. they think the german government is a safer bet than leaving their money in the bank or lending it to other european countries. spanish bonds currently yield 4.3%. portuguese bonds, a massive 12.9%. italian -- 3.6%. the european debt crisis means investors think germany is the last safe haven in the eurozone. they evidently think that even if the your breaks up, money will be safe i've invested with
the german government. insurers and pension funds have to invest a certain amount in securities considered safe, even profit. >> taking a closer look at the markets today, which have been reacting to news, european markets were under tremendous pressure on wednesday, due to the increased fears that greece may leave the eurozone. markets finished solidly in negative territory. banks also fear heavy losses. >> the mood worsened sharply. the dax made heavy losses because traders to prepare for the case of emergency, the case that raese might leave the eurozone. there was talk that a you're working group urged each country to prepare a national emergency plan for the scenario. when the news was published, the euro came heavily under pressure and fell to the lowest
level in almost two years. bank managers are also getting nervous, but german banks have not so much to fear than french banks. the have to fear heavy losses caused by its greek parents. >> let's take a look at the latest market numbers. the dax ended the day down more than 2%. the your stocks 50 close over 2.5% down here in new york, the dow jones is currently going down 175%. the euro is trading for $1.2572. more trouble for facebook. just days after shares hit the stock market, investors have filed a class-action lawsuit, claiming they were misled by the company and its investment bankers. regulators are examining reports that morgan stanley withheld a negative financial report on facebook from investors. shares have lost around 15% of their value since they went on
sale last week. egyptians have been voting in their first presidential elections since hosni mubarak was overthrown. the voting is taking place over the next two days at some 1300 police stations in the country. >> there have been massive queues in some areas, and authorities responded by keeping pulling books open an extra hour. and at a historic election. this is the first time egyptians have been allowed to pick their own president. it comes more than a year after the uprising that ousted hosni mubarak, ending three decades of authoritarian rule. 50 million people are eligible to vote. many are eager to exercise their new-found freedom. an independent islamist candidate is among the front runners. >> of course we will stand behind any president who is selected on the condition that
there is no drinking of any kind -- no rigging of any kind. >> but he faces challenges from the man who served as prime minister under mubarak. >> we will not accept anyone from the old, corrupt ousted regime to return an attempt to influence the people. after more than a year street protests and political struggles, voters held the election will secure egypt's place as a pioneer of democracy in the arab world. >> we have a choice, and i hope that this choice is going to reflect what we really need for the upcoming few years, and we can only hope for the best. them and none of the candidates is expected to win an outright majority in the first round. a runoff vote is expected in
mid-june. >> we spoke earlier to our correspondent in cairo. he described the mood and with the egyptian people are looking for in a president. >> the move has been quite good, and the atmosphere in cairo has been quite relaxed. the people we spoke to at the polling stations were quite happy that these elections are taking place now, and they were happy that they can be part of this historic moment for egypt also, but obviously, those are only the people who actually went to vote. from what it looks like so far, turnout seems to be quite low. this can change tomorrow because there is another day of voting, but it could also be a sign for a certain disappointment in the people because they have a new parliament since january, and nothing has really happened to address the main problems the country is facing, which are a poor economy, property, the deteriorating security situation, and corruption, and
those are the issues that people really have at heart, and those are the problems that they want tackled, and that is also what they expect from their new president. >> we will have an in-depth analysis of what this election means for egypt later on in this bulletin. >> 120 girls have been poisoned at a school in northern afghanistan. police suspect the attack is the work of the taliban who oppose women's education. police say the attackers release an unidentified toxic powder into the air at the school. they say the taliban want to intimidate families into keeping their children away from school. it is the third poison attack at an afghan school this month. >> world powers and iranian negotiators have been meeting in baghdad today about tehran's nuclear program. iran's chief negotiator met a foreign-policy chief from the european union, who is
representing six world powers. western countries suspect iran of trying to develop nuclear weapons and want to run to stop high-grade uranium enrichment. iran, for its part, is demanding that sanctions against it east. >> for more on this, we are joined by a new lease analyst. thanks for joining us. first of all, let's look at the point of these talks. are they likely to find a long- term solution, or are they more about trying to find a short- term problem? >> at this time, that is especially the american government that does not want to seek confrontation ahead of the presidential elections, said the issue will continue to linger. that israel has already expressed skepticism about his legacy asians. is it likely that it will take the outcome seriously? >> the israeli government has
indicated that it is not willing to accept any bargaining on the iranian nuclear program, suggesting iran should be forbidden from any nuclear enrichment, and this, of course, is beyond international law. the iranians to have the right to enrich uranium. the question is to what percentage they should be allowed to do so, and what control mechanism should be involved. in other words, there will not be a solution to the issue. western states will said they found a viable solution for the next weeks to come, and this release will say it is not enough for the security needs, and they're going to see some in the weeks ahead. >> let's pull back a little bit. what do you think iran's overall strategic objective is? >> iran definitely does not wish to attack israel, regardless of the unbearable rhetoric of its president. there is no indication whatsoever that the iranian leadership is suicidal, so the whole issue -- and this makes it
so dangerous -- is really not only about the nuclear program of iran but about the very fact that iran is a major player in the middle east, and they are willing to except iran as a strong power in the region. >> thanks very much for joining us here in the studio. >> last year, germany announced plans to close all its nuclear reactors over the next decade, but many problems still need to be ironed out before that can happen. >> today, chancellor angela merkel has been discussing those issues with the leaders of the country's 16 federal states. they have been talking about the investment needed to build infrastructure and how to improve energy efficiency. we will be back in just a minute's time with a lot more on the situation in egypt as the people there go to vote a new president. >> do stay with us.
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>> as we heard earlier, people of egypt have been choosing their president, a historic day for more than 50 million voters exercising their democratic rights. >> but it is just one step in a long and bumpy transition, and things could yet take a turn for the worse. many of the secular activists who were behind the revolution last year are worried. >> this includes people like this representative of the social democratic party in parliament. today's election. >> the egyptian revolution is far from over, and presidential elections will not change anything. since january, he has been a member of the new parliament, and he is convinced that the balance of power in egypt cannot be changed at the ballot box.
the military council is battling for power with the muslim brotherhood, which has the parliamentary majority. it has nothing to do with democratic processes. both of them want to inherit the old regime and use its instruments to take power. neither wants real democratic change. on the way to his party headquarters, he passes tahrir square, the birthplace of the revolution. he was part of the movement and considers the muslim brotherhood to be jumping on their bandwagon. he says the group only made it into parliament because of the efforts of those who risked their lives by standing their ground here every day. >> it was on tahrir square that we glimpsed the egypt of our dreams. there was no difference between rich and poor, no discrimination according to sex, color, or
religion. we live the dream on the square, and some time it will become reality. but it is also the place where i have lost many of my friends. i saw people dying here so we could have the freedom that we all dream of. egypt may be getting a democratically elected president, but he says that is not enough. he wants to see more changes made to the old power structures. then the people are electing a president who will govern over them without any constitutional restrictions. we will have a president whose authorit >> please stand by. >> please stand by.
gerous? >> well, the president has still the prerogatives of the old constitution, which are massive. this is why so many people are concerned about who will get elected because you think that this person is going to have lots of power in his hands until a new constitution is endorsed. >> whoever wins the presidency, what will be his most urgent priorities? the economy is struggling, of course. >> the economy. the security. if you are secure on the street, you cannot enhance your economy. >> many thanks for joining us on election day in egypt.
in a minute, we will be taking a look about a big new exhibition on a giant of the renaissance. >> but first, some other stories making news around the world. saudi arabia has pledged $3.75 billion to help its struggling neighbor, yemen. they said the money will help you may contain a growing al qaeda threat and tackle poverty. the pledge came at an international donors' meeting in the saudi capital and complements saudi arabia's ongoing contributions of oil and military supplies to yemen. >> the world health organization says spikes in radiation levels in japan after the fukushima disaster were too low to cause cancer -- in most parts of the country, that is. a town 20 miles from the reactors as residence that you appear to be at a high risk of developing thyroid cancer. >> thousands of people have
taken to the streets of burma's biggest city to protest against our cuts. burma exports a large portion of its energy to china, leaving nearly 3/4 of its population without a stable electricity supply. and to sports now. two weeks to kick off at the euro 2012 football championship. time to continue our series on the teams taking part. group b has been dubbed the group of death. long the alliance -- alongside germany, the netherlands, and denmark, portugal. >> portugal had come within reach of international glory in the past, but they are still looking for that elusive first trophy. >> the closest portugal had ever come to a major title was at euro 2004. playing at home, they lost in the final to greece. it was a huge disappointment, but will they get another shot at glory this time?
they have world class players in the squat like rinaldo, but they lack consistency and tend to rely too heavily on their star players, and they will have to battle through a tough group with a shaky defense. then the defense of mistakes can always happen, and sometimes, we do not sort of front -- >> defensive mistakes can always happen, and sometimes we do not soar upfront. >> we want to be a competitive and organized team and to make the most of our opportunities. we know that the first game will determine how we get on in the rest of the tournament. >> that first game is against
one of the tournament favorites -- germany. three out of 6 is our score for portugal. them ok, from sports to the world of arnel, and one of the greatest figures of the renaissance, albrecht durer. born in nuremberg. by his 20's, his reputation has spread across europe. >> a new exhibition is representing 120 of his early works. >> his self portrait shows him as a somber 20-year-old. over the next two decades, he turned himself into an artist famous across europe. a new exhibition examines the artist's early work. a highlight is "the adoration of the match i -- magi, which shows his incredible attention to detail.
shell also focuses on his relationship with nuremberg, where he was born, died, and spent much of his life. >> you can see for the first time what made durer who he was. we want to see him from the perspective of his own time, not through the lens of the romantic genius called, and above all, we want to show what is special about his art. we see him as a landscape painter. he was one of the first people in europe to pay natural landscapes in watercolors. other pictures show his skill at drawing and his mastery of the proportions of the human body. some of his charcoal drawings reveal a lot about the artist. it is believed he used himself as a model for this picture of the dead jesus. >> we go back to sports. thousands of people have turned out on the streets of sweden in southern england to see didier drogba carry the olympic torch.
he scored the winning penalty for chelsea in saturday's champions league final against bayern munich. >> yesterday he made the bombshell announcement that he is leaving chelsea. some say he is now heading to china. the torch is traveling around britain before arriving in london for the opening of the olympics coming up on july 27. that is it from us for now. of course we have more news for you at the top of the hour, and you can find out more on our website, www.dw.de. >> thanks for watching. we will see you again soon. captioned by the national captioning institute --www.ncicap.org--