our top stories this hour -- french prime minister announced he is quitting to run for president. he insists he is the man to unite the french left. president asks matteo renzi to hold off on resigning. court --in's highest in order to leave the european union. prime minister theresa may is seeking to overturn the decision.
the front -- the french prime announcedanuel valls he will be competing that he ill be -- he would not stand against thousand in that announcement. >> i want to fight during this campaign against the right. program withs, is its old recipes from the 1980's, which they represent as progress. when in fact it is regression. i don't want civil servants to work more to earn less.
want them reimbursing drugs. i don't want schools to have less teachers. towns andt want our cities to be deprived of law enforcement officers. down onwant to break social security. waitor workers who have to -- l 70 years old risks being tainted by his disastrous low approval rating. -- rancis prime minister many critics dragged the socialist party to the right certainhth of
authoritarian touch with a certain authoritarian flair. they went on to post through controversial working reforms without consent from parliament the bikini ban on right-wing districts. he may have soft in his hard-line attitude but he is famously pro-business and is opposed to francis 35 hour work week. he was earn -- he earned the nickname the sarkozy of the left. >> it is not up to us to work for these people, it is to integrate over there. reporter: he became a naturalized french citizen 20 years later. entered politics early, becoming a member of the socialist party when he was 17.
valls has had presidential nominations in the past. bonddorsed france while on -- francois holland and became his campaign spokesperson. >> earlier on in his speech he said he had warm feelings. he said he made a decision in deciding not to run for a second term. through they have been some tough moments working together but he respected him massively. one word he kept repeatedly is unity. he needs the left to unite behind him. and then the president selection next may, he said one thing that was unacceptable for him is any notions the left could be disqualified, he said it was an appalling idea.
francois fillon could go up against another right-wing candidates in the second round of the elections. a to stop that from happening and defend france's social model, he says the left needs to unite and hopefully will unite behind him. anchor: now he is actively disliked by the west wing -- by the left wing of his own party. how is he going to overcome that? valls has a difficult job. --is seen as to pro-business too pro-business. i spoke to a few locals in the tower where he was mayor. he was an extremely popular mayor. since he has become prime minister he has drifted too far to the right. that is something he is really
going to have to work on. he's going to have to persuade people like that he is a true left-wing candidate and values left wing values. he is up against several other candidates. there are candidates who are taking part in the january primary. it is an uncertain moment for italy, where prime minister matteo renzi says he is stepping down after he lost a referendum on constitutional reform. the country's youngest ever leader stated his political future on winning the referendum. the voters chose to deny, granting him more powers. ar more i am joined by -- orian at royal matteo renzi referred to himself as the demolish her.
why did the people vote against him so overwhelmingly? there has been a miss understanding and over exaggeration of the meaning of this referendum. this is our referendum, a no vote led by opposition forces, especially some extreme populist party. we shouldn't for get -- shouldn't forget 56 of the main scholars rejected this referendum. basically they lost this referendum because it did and appeal to people. many people believing italy has some major problems.
the institutional asset of the country. it is not just referendum itself. >> you would say this referendum does not fit into the current trend of antiestablishment moves like the brexit and the election of donald trump. you think this is more specific to italy. >> despite the fact that -- and these extreme right-wing movements across europe, it is part of this trend we have seen with brexit and with the move rising across europe. the referendum was against all the others. they even tried to borrow some of them of some of the
politicians like trump. there is something specific to italy. there are major problems like corruption. and cyanide could change this. >> some deep-seated systemic problems as you mentioned there. an election in 2017 or 2018. is there a risk that one of the most populous extremist parties they can exploit that and get into power themselves. even fear is the movement, if they were winning the
referendum. the huge risk is the victory of the referendum was perceived as a sort of victory in the next election. , evene seen these trends as they have reached society. trump and brexit are an eastern part from east to west. my point is unless mainstream forces start doing something different in terms of the distance between elite and common people, probably lashing some of the austerity, probably lashing some of the new policies, it might not. is a huge problem we are probably unable to see or culturally unprepared to be with.
>> thank you very much indeed. government has been trying to convince judges to overturn a move on brexit. prime mr.ourt ruled theresa may could not trigger article 50 of the european constitution without first getting parliamentary approval. the government argues that could slow down or even stop britain from leaving the eu. >> protesters on both sides of the brexit debate arriving to see the start of the biggest constitutional case in decades. -- supremes court court is deciding how the u.k. leaves the european union. brexit remains and emotive issue in the u.k.. cases would consider the from a legal perspective. >> this appeal is concerned with
and our duty is to consider those issues impartially and to decide the case according to the law. that is what we will do. brought by has been the government. monday was the government's term to -- governments turn to present its case. bestowed on the monarchy to start the leading process. >> we say you set the prerogative in the circumstances would not only be lawful, but only -- but fully supported by our constitutional settlement. >> but the government's by -- will say --
only parliament has the power to remove. itshe government wins appeal it can continue its plans to invoke article 50 by the end of march. but if it loses parliament could in theory delay or even block theresa may's brexit plans. days,ses due to last four with a vertical expected in january. anchor: prosecutors have begun their closing arguments at the war crimes trial of -- the 74-year-old racist charges of genocide and crimes against humanity for his roles in the bosnian conflict in the early 1990's. the court heard how he led a buddy -- led a bloody campaign. >> the man known as the butcher of bosnia, former serbian commander of the did capture for before eventually being arrested in 2011.
now he is on trial for two counts of genocide, war crimes, and crimes against humanity. >> the campaign tore apart andlies and communities left behind destroyed mosques and catholic churches. and mass graves full of victims. being that of leading a vicious campaign, their thought to play a major role where 8000 muslim when -- muslim men and boys were murdered. >> that military result is the realization of the strategy to create a factual situation that could not be reversed. a reconfiguration of bosnian demographics at the international community as well
as muslims would have to accept as permanent. >> a verdict is due to be announced next year. 83 individuals from both sides had been convicted. anchor: two forces have seized more territory from aleppo. it has urged families to return to their homes for tens of thousands of -- to their homes, but tens of thousands of civilians remain trapped. catherine has more. neworces tightening the rebel fighters in aleppo, moscow says it will hold talks with washington on a total rebel withdrawal from the city. russian foreign minister sir gay
minister- foreign lavrov -- if they insist on remaining and continuing armed fighting we will treat them as terrorist extremists and will support syria's operation against those criminal squads. alsossia's top if you matt criticized u.n. efforts to institute an immediate cease-fire, calling the measure counterproductive area -- counterproductive. the syrian government has made sweeping advances in its efforts to retake aleppo. now it is hoping to press that advantage. stayed put andve found to keep fighting.
shelling areas of western aleppo under government control and government forces carrying out more aerial bombardment in the east. lose controlbels of aleppo, it will mark their biggest defeat yet in the country's five year civil war. scandal --e ongoing lawmakers have been grilling the heads of major corporations to find out about donations to groups that backed policy decisions. these hearings continued all week and parks could be impeached as early as friday. of ther: at the heart political scandal, a series of hearings. she conceded she would be willing to step down. >> i will leave it up to parliament to decide my future, including the shortening of my
term. reporter: if she is impeached by parliament she will be the first korean leader not to serve a full term in office. her role was first revealed in october 25 by korean media. saying she has been manipulate by a close friend into sharing secret government information, having previously denied allegations of corruption. >> i am sorry i have caused concern to the people and caused alarm and heart ache. i deeply apologize to our nation. >> as the magnitude of the scandal grew, mass protests broke out around korea. 4, facing calls for
her resignation, park agreed to be formally investigated. if needed i will faithfully cooperate with the prosecutor's investigation. accept an also investigation by a special prosecutor's team. corrects the parliamentary decision on whether to impeach park or not will be taken this friday. no one expects her to remain in power but there still could be twists. >> the socialist party primary contest -- he insisted today he is the man to unite the french left. italy's prime minster has renzi isatteo renzi -- quitting after he lost a referendum on constitutional reform.
court hasn's highest been hearing the government's argument for bypassing leave the in order to european union. prime mister theresa may is looking to overturn last month's decision from the high court. we are starting with reaction to the no vote in italy, what have the market been doing? market reaction has not been as bad as we had expected. markets had factored that result in already. stocks initially recovered. institutions will not change and that means less surprises for investors. all the markets closed up in europe. and in milan as uncertainty continues. the dow opened at an all-time high and is on track for a record close.
goldman sachs and j.p. morgan have been particularly strong over the last few weeks, following donald trump's victory in anticipation of deregulation in the financial sector. in italy, what would happen to italy's banking sector? the sector is crippled by a burden of bad debt in urgent need of recapitalization. in of the largest banks is particular trouble. a multibillion euro rescue deal is hanging by a thread. bank is ind's oldest big trouble. after a bad year where shares it needs 580%, billion euros to recapitalize. it had hoped to get that from a consortium of investors. but uncertainty caused by the referendum result may change
that. crisis talks are hinging on the biggest investor, the qatari investment authority. if they backed out, others would likely follow. then the government could be forced to nationalize the bank. and aould be unpopular blow to the economy, already struggling with low gdp growth, along with the second-highest government debt. there are also fears that the banks may follow. plagued by sector is 3 billion in nonperforming loans. could get is a lot of italian people having a run on the banks, going to the banks and withdrawing their money. the already fragile italian banking sector. could have another big problem in trying to buy out an italian bank.
>> eyes are turning to matteo renzi who resigned following the referendum. >> the euro group discussed a further bailout for greece. finance ministers approved short-term mergers that failed -- most notably on debt relief. fullpushes the question of imf participation in the program to 2017. major differences remain between governments as a key point, such as how long greece should have to maintain 3.5% surplus target after its program ends in 2018, making a broader deal impossible today. let's hear what the eu commissioner had to say. medium-term fiscal trajectory will need to be in line with the fiscal framework. but the targets will need to be defined at a later stage. so we will continue discussions over the coming weeks with a view toward taking for this
program to a successful conclusion and building on the efforts made by the great -- made by the greek people so far, which are starting to pay off and we need to safeguard. >> this monday was also the official launch of a new trading link in china. the stock exchanges are officially linked together now. sides ending the session in negative territory. the link allows foreigners to buy shares in 800 chinese firms while giving mainland chinese firms more access to hong kong companies. his scheme is touted as china's latest effort to prove markets are gradually opening. let's take a look at other business stories. europe will have a new airline. that is the airline set out by
-- that is operated by the world's largest [indiscernible] scotland will pay up to 800 million pounds to settle claims from shareholders that they were misled during the cache12 billion pound copy of the bank has reached agreement with three out of five groups. volkswagen is looking to take on uber. the german auto group has launched an auto company that aims to enter the on demand transport margate -- transport market. multi-passenger shuttle services , as automakers try to invest in transportation models that go beyond individual client shares. and amazon is launching a supermarket without check out.
amazon go will open in seattle in 2017 and allow customers to check-in and checkout with goods with an app. the move follows the opening of a brick and mortar bookshop by the retail giant last year. finally, going a for dinner, needing a backpack of cash. the imf has estimated inflation will surpass 2000% next year. that inflation means the largest note is worth just teed up u.s. sent -- just two u.s. cents. the largest of the new bills will be just under five euros. the rate of inflation is staggering. we will be back with you for in it -- with you in a few minutes for more.
12/05/16 12/05/16 [captioning made possible by democracy now!] amy: from pacifica, this is democracy now! >> we are slowly getting there, winning this thing, but there are going to be a few battles we have to go through. amy: historic win for the standing rock sioux in north dakota and the environment. the army corps of engineers has denied a permit for the dakota access pipeline to drill below the missouri river. officially faulting instruction. but the company behind the pipeline has