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Jun 5, 2012
06/12
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so is europe history now? we don't know but we know one thing, that the experiment has failed in the sense that the wonderful dream of the 50s, up up and away has collided with the nasty reality of the nation-state. that will not fade away. and if truth be told, how many french germans and poles etc. will want to part with 2000 years of history? let me conclude if i may end this audience that has given victory to hitchens when they talked about god. let me conclude with a prayer nonetheless. let's pray that the inevitable crash of europe, the most ambitious part of the experiment will not very the rest and let's plead with zeus to save europa from the addressee's in the cozy little harbor because europe, one more sentence, europe cannot conquer the sea of that is the nation-state but if she drowns, canada and the united states will not flourish. amen. thank you. [applause] >> so, time now for our final debater, speaking against the motion, lord peter mandelson. sir, you have six minutes. [applause] >> thank yo
so is europe history now? we don't know but we know one thing, that the experiment has failed in the sense that the wonderful dream of the 50s, up up and away has collided with the nasty reality of the nation-state. that will not fade away. and if truth be told, how many french germans and poles etc. will want to part with 2000 years of history? let me conclude if i may end this audience that has given victory to hitchens when they talked about god. let me conclude with a prayer nonetheless....
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greeks are somewhere else than the crisis but europe is in the crisis but europe is not falling apart and they are scenarios of what might happen i mean one of the scenarios which is widely discussed in europe is a change of the euro zone i mean greece will leave the euro zone but poland will become the member of the euro zone a stone member of this or a zone sweden will enter the results of the no catastrophe i think will happen the problem is that the aura zone will change and greece will leave and the south some countries will also maybe have problems and staying there or a zones like italy spain and portugal we will deal with a different europe we are you talking about greece leaving the euro zone is something normal but many other people including financial risk would say this is cast this this is the end of the euro well there are already troubles and i and the markets today here you don't see it as a comparative i mean not you personally but german the germany in general greece makes two percent of the european economy. greece will not suffer badly if they go out of the euro of
greeks are somewhere else than the crisis but europe is in the crisis but europe is not falling apart and they are scenarios of what might happen i mean one of the scenarios which is widely discussed in europe is a change of the euro zone i mean greece will leave the euro zone but poland will become the member of the euro zone a stone member of this or a zone sweden will enter the results of the no catastrophe i think will happen the problem is that the aura zone will change and greece will...
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Jun 6, 2012
06/12
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CSPAN3
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so has europe failed? i would say it is just too soon to know. could europe fail? of course it could. but must europe fail? absolutely not. thank you very much. >> well done, gentlemen. a very strong opening to the debate. and i think you've flushed something out which is important which is how this audience chooses to define the european experiment. is it the euro? is it a larger civilizational project? that's going to be up to you to decide when you pick up your second ballot at the end of tonight and for those of you voting online right now. our next phase of this debate is to have these debaters engage each other directly. neil, you were the first to speak, so i'm going to come to you. what have you heard from the opposing sid here that you just fundamentally disagree with, that you think they've got wrong from a to z, and then i'll have them rebutt. >> exactly as i predicted, he fell into the trap of contributing the peace to the process of european integration. he did it in an emotive way which has played well for him since 1968. it didn't work for me when i
so has europe failed? i would say it is just too soon to know. could europe fail? of course it could. but must europe fail? absolutely not. thank you very much. >> well done, gentlemen. a very strong opening to the debate. and i think you've flushed something out which is important which is how this audience chooses to define the european experiment. is it the euro? is it a larger civilizational project? that's going to be up to you to decide when you pick up your second ballot at the end...
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Jun 8, 2012
06/12
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KCSM
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finally, let's go over to europe. we have a stationary low sitting over the british isles producing stormy weather. we have wind warnings in place in the southern portion of the uk. conditions will finally improve over the weekend. the associated front will move quickly over the western continent and head into central europe. we can see pink showing up. that means heavy rain will target parts of poland and austria in the next 24 hours. as for the highs, central europe, temperatures are on the warmer side. 24 in berlin and 27 degrees expected in vienna. out toward the east, looking mild in moscow with a high of 21 degrees and 23 in warsaw. here's your extended forecast. >>> our lead story this hour. japanese prime minister yoshihiko noda is making another push to restart a nuclear plant. he'll speak to the public later in the day. all of the country's0 reactors are now offline. noda will stress that the ohi plant in western japan is safe and he'll tell people that companies need it as a source of power. noda needs the
finally, let's go over to europe. we have a stationary low sitting over the british isles producing stormy weather. we have wind warnings in place in the southern portion of the uk. conditions will finally improve over the weekend. the associated front will move quickly over the western continent and head into central europe. we can see pink showing up. that means heavy rain will target parts of poland and austria in the next 24 hours. as for the highs, central europe, temperatures are on the...
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something like a socialist europe or europe of so you dirty of corporation or banking system it's probably to our energy system it's probably better is democracy and one of the countries of course at this crossroads having to make a choice is greece you talked in your book about a lot of the myths surrounding greece why do you think it's the misrepresent that if you have to look at. figures. and everyone can see that. the. greek people are working. more than two thousand and one dollar a year and that is for example more than six six hundred hours a year more than that in germany more than five hundred dollars a year more than in belgium so dismissive of the lazy greeks it doesn't exists and so i was asking myself why why are they telling such things on mainstream media. in germany in. belgium and i think it's very easy to understand because the. establishment who has the most. profit from this story since ten years that is the german establishment and the dutch establishment and so in creating this false conception of the greek people you can say but no it's no it's not a problem of econo
something like a socialist europe or europe of so you dirty of corporation or banking system it's probably to our energy system it's probably better is democracy and one of the countries of course at this crossroads having to make a choice is greece you talked in your book about a lot of the myths surrounding greece why do you think it's the misrepresent that if you have to look at. figures. and everyone can see that. the. greek people are working. more than two thousand and one dollar a year...
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ok we'll talk about the democracy deficit in europe later keep going i mean the solution for europe is quick and radical action pain so it would abandon finally from. virtual worlds of talks and negotiations and get back to reality. ok if i can go to you do you want to see you. leaders rushing the something like the year we had a presidential candidate that said. russia should join the euro. while i think i would have a discussion in russia to thrash better relationships with the european union and then i heard a loud crash joining me to go there i don't think anybody wants to join me at all that you have no option like i don't examine let clearly if. you will get away i'm going to jump and there are several countries that actually are now still the wanting to go on the euro one of them is poland and i thought today not today exactly what we need to fix the euro for us but how do you fix it so i mean only to i think we've had about this topic how do you fix it jacob has the idea but i don't know if it's politically feasible so i think we will start from another place i think we will st
ok we'll talk about the democracy deficit in europe later keep going i mean the solution for europe is quick and radical action pain so it would abandon finally from. virtual worlds of talks and negotiations and get back to reality. ok if i can go to you do you want to see you. leaders rushing the something like the year we had a presidential candidate that said. russia should join the euro. while i think i would have a discussion in russia to thrash better relationships with the european union...
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Jun 19, 2012
06/12
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CNBC
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stop trying to game europe. i know it's super important which is i'm giving you apprised of situation over there. there's nothing to do about it as an investor unless you aavoid in entirely and focus on domestic winners, not international losers. that's why i'm always looking for stories regardless of what goes dune in the european union. i have a terrific one tonight. i talk about how to profit from the ultra low price of natural gas here until the u.s. we know who the losers are from cheap natural gas. all the companies that find and produce the stuff, the ones that come up to me at jim cramer say, why are these down? there are a ton of nat gas winners that we don't talk about, mainly all the companies that need to buy natural gas as a larger input cost other than labor. last quarter we got terrific results from owens, illinois. ppg, that was fantastic, sherwin williams. they consume huge quantities of natural gas, and the natural gas winner trade is still on especially with the chemical companies. lately ther
stop trying to game europe. i know it's super important which is i'm giving you apprised of situation over there. there's nothing to do about it as an investor unless you aavoid in entirely and focus on domestic winners, not international losers. that's why i'm always looking for stories regardless of what goes dune in the european union. i have a terrific one tonight. i talk about how to profit from the ultra low price of natural gas here until the u.s. we know who the losers are from cheap...
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growing i don't want to live in a europe of bureaucracy i want to live in a europe of democracy while said real quick before we go in may addressing european parliament you said you feared this project could cause the rise of national socialism in europe now after two rounds of greek elections we have. neo nazis in parliament how much worse do you fear this could get politically in terms of fracturing and the division into extreme politics. if you take away from people their right to determine their own future is to live under their own rules to take away from them that i should say. that you risk doing something that we stupidly did back in nineteen twenty with yugoslavia where we took diverse different balkan states we forced them together against their will under a new identity and you and i both know since ninety ninety the awful things that have happened as those countries afford to get back their independence so determination democracy and freedom we mustn't allow the european union to make those same mistakes. you heard of mr nigel farage later of u.k. independence party. let's
growing i don't want to live in a europe of bureaucracy i want to live in a europe of democracy while said real quick before we go in may addressing european parliament you said you feared this project could cause the rise of national socialism in europe now after two rounds of greek elections we have. neo nazis in parliament how much worse do you fear this could get politically in terms of fracturing and the division into extreme politics. if you take away from people their right to determine...
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Jun 7, 2012
06/12
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KCSMMHZ
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and for this reason, they are forced to go to europe. and europe is a little bit between the united states and i would say other countries. >> reporter: tjia says timing might be right for european businesses to pursue opportunities in the north. china has been a manufacturing hub for europe. but chinese labor costs are rising. north korea's labor costs are about half of china's. tjia recently explained other pros and cons of doing business in north korea to european textile industry officials. 30 people attended the closed door session. he is optimistic that business conditions will get better over time. >> i'm maybe more positive about a new leadership than others. so my personal belief is that under the new leadership, we will see more improvements in both business and economic development. >> earlier my colleague shery ahn got some insights into new business tie-ups between europe and north korea. >> europe and north korea are both geographically and culturally quite distant. it is interest ing ing to hear european businesses want to
and for this reason, they are forced to go to europe. and europe is a little bit between the united states and i would say other countries. >> reporter: tjia says timing might be right for european businesses to pursue opportunities in the north. china has been a manufacturing hub for europe. but chinese labor costs are rising. north korea's labor costs are about half of china's. tjia recently explained other pros and cons of doing business in north korea to european textile industry...
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perhaps it was a big mistake you know to introduce to europe before there was. a better form of a political system within the year. but i'm not so sure i mean very by nationality you know you're a skeptic the angles next few of you will be the skeptic what you found we are ok. it's just always always like there's a problem in europe of that when you have any problems i mean we're suffering out of a high level and in germany you know that just asking about is working and everything is working and it would be have less growth i mean i see this painting greece but also suffering greece at a very high level when thirty percent you coming from a level twenty years ago it's unbelievable how wealthy with this we come after them big gains i mean so i don't think there's a problem and i think the solution is very simple once you have the fiscal pact the e.c.v. becomes a lead no means for that or you wouldn't have just governments and leaders meet in maastricht again and say this is what we do sign the papers and we have a fiscal union is that what the europeans want is n
perhaps it was a big mistake you know to introduce to europe before there was. a better form of a political system within the year. but i'm not so sure i mean very by nationality you know you're a skeptic the angles next few of you will be the skeptic what you found we are ok. it's just always always like there's a problem in europe of that when you have any problems i mean we're suffering out of a high level and in germany you know that just asking about is working and everything is working...
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Jun 11, 2012
06/12
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CNBC
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obama's big issue now is europe. but europe could damage the re-election. it's here at home and i think he has to solve our fiscal problems and show leadership so the economy won't really tank. anyway, sam, tony and jennifer, thanks, everybody. coming up on "the kudlow report," the ral loin spain's big bailout was very brief. stocks wound up sinking triple digits. more jitters of contagion and a greek exit that could stabilize the world's economy. the architect of the greek debt deal is waiting in the wings. later on, a defining moment for president obama that will haunt him through november. maybe cost him his own re-election. don't forget. free market capitalism is the best path to prosperity. it's true for europe and the united states. we just don't have enough of it right now in either place. tdd# 1-800-345-2550 let's talk about the personal attention tdd# 1-800-345-2550 you and your money deserve. tdd# 1-800-345-2550 at charles schwab, that means taking a close look at you tdd# 1-800-345-2550 as well as your portfolio. tdd# 1-800-345-2550 we ask the ri
obama's big issue now is europe. but europe could damage the re-election. it's here at home and i think he has to solve our fiscal problems and show leadership so the economy won't really tank. anyway, sam, tony and jennifer, thanks, everybody. coming up on "the kudlow report," the ral loin spain's big bailout was very brief. stocks wound up sinking triple digits. more jitters of contagion and a greek exit that could stabilize the world's economy. the architect of the greek debt deal...
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Jun 18, 2012
06/12
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CNBC
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>> with respect to europe or ourselves? >> actually, both. i'm looking at europe. i'm worried about the united states. >> first of all, it's interesting for me to hear steve forbes argue in favor of stimulus. that may be a separate discussion. but in terms of your question -- >> tax cuts. >> i think everyone in a position of knowledge and responsibility has argued for that. mrs. merkel has, the imf has. geithner, everyone has been clear europe has to engage in structural reforms. >> look. i don't understand why we keep raising taxes. to steve's point. take greece, italy. they want to raise the value added tax. they don't make money but it does cause prices to go up. it has a depressing effect on the economy. way why wouldn't you go for pro growth supply side tax growth? >> the european, southern tier european countries are in an unsustainable position. spain's interest rates are over 7%. they don't have an option not to close the budget deficit gap. you can argue about doing it on the spending side but they will not allow them to continue to operate with deficits o
>> with respect to europe or ourselves? >> actually, both. i'm looking at europe. i'm worried about the united states. >> first of all, it's interesting for me to hear steve forbes argue in favor of stimulus. that may be a separate discussion. but in terms of your question -- >> tax cuts. >> i think everyone in a position of knowledge and responsibility has argued for that. mrs. merkel has, the imf has. geithner, everyone has been clear europe has to engage in...
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two three or four europe's. strong states. in the. one hand middle states like france belgium and luxembourg on the other hand and then the so-called states but it's nationalism again and we'll have a conflict in europe and then there is a tertiary in my opinion that is the rate that give the people's right the most movements or strong and if they find political translation it's will be possible to go to. something like a socialist europe or a group of so you dirty of corporation or banking system it's public to our energy system you're probably right it is democracy and one of the countries of course at this crossroads having to make a choice is greece you talked in your book about a lot of the myths surrounding greece why do you think it's needed misrepresent that if you have to official figures everyone can live them up and everyone can see that. the. greek people are working. more than two thousand and one dollar a year and that is for example more than six six hundred i would say year more than that in germany more than five hund
two three or four europe's. strong states. in the. one hand middle states like france belgium and luxembourg on the other hand and then the so-called states but it's nationalism again and we'll have a conflict in europe and then there is a tertiary in my opinion that is the rate that give the people's right the most movements or strong and if they find political translation it's will be possible to go to. something like a socialist europe or a group of so you dirty of corporation or banking...
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Jun 8, 2012
06/12
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KRCB
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>> europe is troubling right now. unfortunately europe has a bigger hangover affect arm the world. i use a couple key words. in the u.s. we've had ceos and businesses resilient but the overhang is putting a dampening effect. the second thing is variablity. >> where you seeing the strongest area of business especially when it comes to possible future hiring? >> we'll we've done a survey the strongest hiring was around the area of technology, health care services, professional services and communication. those were the big industry trends where they'll be hiring on a global basis looking ahead. that's probably waned because of the overhang but that's what ceos were telling us. >> a little financial literacy with robert morett chairman of pwc. >> thanks, tom. >> tom: after a morning sell- off, we saw steady buying into today's closing bell. the low of the day was hit in the first 20 minutes of the session with the s&p 500 slowly climbing from there. the index was able to end close to its highest price of the day, helping make this the best week for the index this year. volume was very
>> europe is troubling right now. unfortunately europe has a bigger hangover affect arm the world. i use a couple key words. in the u.s. we've had ceos and businesses resilient but the overhang is putting a dampening effect. the second thing is variablity. >> where you seeing the strongest area of business especially when it comes to possible future hiring? >> we'll we've done a survey the strongest hiring was around the area of technology, health care services, professional...
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loans are in europe and so the u.s. treasury department will defer to europe for matters that are focused on europe but in the rest of the world in all the developing world where the u.s. still where the i.m.f. still makes loans it's the u.s. decided so they control both really of the mess in the world bank which is two out of the three international institutions that have any power the third one is the security council and there they have the veto as well so this is this is the world after world war two and the global governance is not changed that's one of the reasons they created the g twenty but it's still the g. seven making all the solutions because in mainly the g one you know here in washington because that's who has power in these institutions of international governance that actually have power you don't see that changing and not only when it comes to voting rights but the policies of these international. organizations are talking about the i.m.f. and the world bank now there is change it's slow change it's de
loans are in europe and so the u.s. treasury department will defer to europe for matters that are focused on europe but in the rest of the world in all the developing world where the u.s. still where the i.m.f. still makes loans it's the u.s. decided so they control both really of the mess in the world bank which is two out of the three international institutions that have any power the third one is the security council and there they have the veto as well so this is this is the world after...
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Jun 18, 2012
06/12
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CNBC
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you did keep one eye on europe. consider again the notion of the need for yield nd n a low growth environment. from companies that cannot only pay higher dividends but boost them. who fits that depiction in the dow? how about intel? that yielded a year ago. both of the companies have far more exposure to emerging markets than europe. both have amazing balance sheets. they were in a fantastic position to raise dividends. how did they do? second best performer in the dow was intel. microsoft was up. what else may have appealed to us with one eye on europe? how about walt disney? there is a euro disney but the main drivers are the american television networks, movies, theme parks, espn. is there any real wonder that disney rallied 24%. the dow's best performer. i think one eye on europe would have spotted disney simply by not having it over there. seven of the top ten performers in the dow were available. i don't think the one eye prism would have produced the others. all three have substantial businesses in europe. on
you did keep one eye on europe. consider again the notion of the need for yield nd n a low growth environment. from companies that cannot only pay higher dividends but boost them. who fits that depiction in the dow? how about intel? that yielded a year ago. both of the companies have far more exposure to emerging markets than europe. both have amazing balance sheets. they were in a fantastic position to raise dividends. how did they do? second best performer in the dow was intel. microsoft was...
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who runs europe well i think there's a finance minister is going to be. thinking is going to look all right all right fine you know we didn't you know what i'm talking ok i mean we're is the very who leads here because what over the last two years we've seen eleven twelve governments in europe fail these people don't have the answer apparently ok and we have flip flops we have going to the left going to the right the way i think that's the difference between in the germany for example this change foreign minister it's a stuff that could tear the sites of these in place for twenty years and read the same policy does not i was and how up in front i think ok only matters that mattered merkel said. chancellor merkel. that's who counts but when michael and and seconds we work together now that i can no longer agree to increase the capital of the european vestment bank and that increasing capital can go to major infrastructure projects if you look at for example. you know high speed rail connections in europe they don't exist in most. we did this better than sa
who runs europe well i think there's a finance minister is going to be. thinking is going to look all right all right fine you know we didn't you know what i'm talking ok i mean we're is the very who leads here because what over the last two years we've seen eleven twelve governments in europe fail these people don't have the answer apparently ok and we have flip flops we have going to the left going to the right the way i think that's the difference between in the germany for example this...
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Jun 19, 2012
06/12
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FOXNEWS
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and europe is pushing back. europe is saying that the u.s. has to make sure that they keep spending here so that europe doesn't go into a great big recession. at the end of the day, it's a lot of push me, pull you, it's not clear if any of these words are going to amount to action. >> shepard: should europe be telling washington, i don't know, what to do? they seem preteshed with us. >> yes. they are not happy with us. they think it's our policies that got them into trouble. when you look how much debt europe has. those european countries are in more trouble than we do. ireland g.d.p. 113%. mortgage 112. italy 124. greece is 153. ours 107. at the end of the day we have less debt than many of these countries in trouble. it's arguable that our policies are what caused these country in decline. >> certainly arguable at least. >> let's bring in wendell goler. jonathan hunt at the united nations here in new york. we will, of course, talk about what the president is about to say and the situation with europe. but i think it's important that we give
and europe is pushing back. europe is saying that the u.s. has to make sure that they keep spending here so that europe doesn't go into a great big recession. at the end of the day, it's a lot of push me, pull you, it's not clear if any of these words are going to amount to action. >> shepard: should europe be telling washington, i don't know, what to do? they seem preteshed with us. >> yes. they are not happy with us. they think it's our policies that got them into trouble. when...
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Jun 28, 2012
06/12
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CSPAN3
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if europe were at 2%, 3%, europe wouldn't have a problem. what are the difficulties? you can trace almost the price of bonds in germany depending on, and italy depending on the progress of monti, who is a very free market guy, had a competition in the commission, you could trace the prices almost in tandem with progress or lack thereof of getting his reform program through the italian parliament. now what to me is the key to all this? i asked this rhetorical question, sort of a trick question when i first went to europe in january of 2006, who was, how many people know this, who was the sick man of europe when i first got there? what? germany, yes, germany's growth was slower than greece, spain, italy, ireland, whatever, and what happened? what did they do? well, they did the so-called hearts reforming under schroeder. he never really benefited from it, chancellor merkel has had a huge benefit from it. this is not the first time, president bush 41 cleaned up the banking system, lost in part because of it and clinton had a great run, you know? but that's life, that's j
if europe were at 2%, 3%, europe wouldn't have a problem. what are the difficulties? you can trace almost the price of bonds in germany depending on, and italy depending on the progress of monti, who is a very free market guy, had a competition in the commission, you could trace the prices almost in tandem with progress or lack thereof of getting his reform program through the italian parliament. now what to me is the key to all this? i asked this rhetorical question, sort of a trick question...
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Jun 5, 2012
06/12
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CNBC
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the issue in europe is an issue of growth. it's an issue of how to allocate burdens and the disagreements among them. i think it's an issue here ultimately of what the region is going to look like politically. and injecting u.s. money into that is not going to solve any of those problems and in some cases could actually make it worse. >> steve, it could make it worse. what do you think? >> am i visibly bleeding from the arrows that have been shot my way, sue, suince i brought u this idea? >> you should be. you look good so far. you should be. they were flinging a lot of arrows. >> i am pointing out the incremental approach of praising the small increments of european progress and kind of being quiet about it. we should step up. ramp up the rhetoric. create a pot of money that is about a third of what the europeans put up as incentive to bring them together. as i think about the politics, i do not believe europe is going to come together on its own. i agree with bruce the idea of growth is important. but i think, bruce, in the
the issue in europe is an issue of growth. it's an issue of how to allocate burdens and the disagreements among them. i think it's an issue here ultimately of what the region is going to look like politically. and injecting u.s. money into that is not going to solve any of those problems and in some cases could actually make it worse. >> steve, it could make it worse. what do you think? >> am i visibly bleeding from the arrows that have been shot my way, sue, suince i brought u this...
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Jun 8, 2012
06/12
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CSPAN3
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and that's the pattern that europe is in danger of getting into. you know, some countries in europe right now have an unemployment rate of 15%, 20%. if you are engaging in too much austerity too quickly and that unemployment rate goes up to 20% or 25%, then that actually makes it harder to then pay off your debts. and the markets, by the way, respond in -- you know, when they see this kind of downward spiral happening. they start making a calculation, well, if you're not growing at all, if you're contracting, you may end up having more trouble paying us off so we're going to charge you even more. your interest rates will go up. and it makes it that much tougher. so, you know, i think that what we want both for ourselves but what we've advised in europe, as well, is a strategy that says let's do everything we can to grow now even as we lock in
and that's the pattern that europe is in danger of getting into. you know, some countries in europe right now have an unemployment rate of 15%, 20%. if you are engaging in too much austerity too quickly and that unemployment rate goes up to 20% or 25%, then that actually makes it harder to then pay off your debts. and the markets, by the way, respond in -- you know, when they see this kind of downward spiral happening. they start making a calculation, well, if you're not growing at all, if...
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Jun 5, 2012
06/12
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how does europe and the thread of a weakening europe factor in? >> it provides a terrific opportunity for us to invest at a give away price. europe is on sale in a couple of ways. the brands that identify with europe nestle products, those brands are coveted in the emerging and developing markets. our businesses are charged with the responsibility of investing against those brands to have them available. the right outlets for the economies as they develop in advance. those profits for the development come back to europe overtime in stronger currencies. at the moment it's basically europe is on sale and the aspects that we look for within the companies are the assets growing in the parts of the world that should grow for a long time. >> when you are in europe obviously everybody is worried about the euro disappearing. you have grown nestle stock in. how goudo you think about that? >> the profit stream from the businesses we own in europe will be more heavily skewed to the parts that are growing. with the growth in those parts of the world, i think
how does europe and the thread of a weakening europe factor in? >> it provides a terrific opportunity for us to invest at a give away price. europe is on sale in a couple of ways. the brands that identify with europe nestle products, those brands are coveted in the emerging and developing markets. our businesses are charged with the responsibility of investing against those brands to have them available. the right outlets for the economies as they develop in advance. those profits for the...
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Jun 8, 2012
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and europe. one is exports to europe. the good news is at the national level they're actually not that big. we only export 2% of our gdp to europe, basically. to the yurdz. compare that with 70% of the economy, this consumer spending. so it's fairly small. that's one link. the other is the banking system. here the vulnerability is a little bit bigger. any kind of pullback by european banks or credit tightening in europe could have global ramifications including for u.s. banks. again good news is u.s. banks are reducing their vulnerability to europe and the european credit situation. but still that vulnerable is there. >> brown: drew greenblatt are you in the business, you make the linkment how specifically dot economic trouble notice europe affect your company? >> it's to the good. when the europeans are slowing down that means they're buying less. and that's to the good for us in terms of growing our business and hiring more people. however, south america, canada, mexico, asia is still plugging away. the american economy
and europe. one is exports to europe. the good news is at the national level they're actually not that big. we only export 2% of our gdp to europe, basically. to the yurdz. compare that with 70% of the economy, this consumer spending. so it's fairly small. that's one link. the other is the banking system. here the vulnerability is a little bit bigger. any kind of pullback by european banks or credit tightening in europe could have global ramifications including for u.s. banks. again good news...
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Jun 18, 2012
06/12
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>> well, i think the question is, is how long is europe going to back spain. they're effectively getting money under the table from the european central bank through this complex mechanism that essentially allows this central bank of spain to borrow from the central bank of germany under the table through the european central bank. but that can't go on forever because the germans have caught on to that. they say wait, there's got to be a limit to this. and chancellor merkel says look, we are willing to put a lot of money in but we want to see some reform. we want to see movement towards political union. that was promised us. we want to see regulatory union, and countries like france, the other big partner here they don't want to. they have been pulling back in their vote so there's a real doesel going on. it's about much more than greece. i wouldn't assume it will fall apart. i would not assume that but you would have to take a huge leap towards coming together or fall apart. >> susie: you've been going back and forth to europe, and talking to a lot of the key
>> well, i think the question is, is how long is europe going to back spain. they're effectively getting money under the table from the european central bank through this complex mechanism that essentially allows this central bank of spain to borrow from the central bank of germany under the table through the european central bank. but that can't go on forever because the germans have caught on to that. they say wait, there's got to be a limit to this. and chancellor merkel says look, we...
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Jun 3, 2012
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northern europe, northwestern europe over the course of the 1700's and then further over the course of the 1800's, started to dominate the globe. the pendulum swung from asia and the mesopotamia valley north and west to europe and that spread across the atlantic to north america. and for the last 200 years, that zone, north america and in partnership with western europe, has been at the front of history. it has enjoyed ideological dominance, material dominance and it was able to send out its tentacles to most of the world by the end of the 19th century. 90% of the world was either a european colony or a former european colony. so there really was a period in which one relatively small zone of the world was able to extend its dominance and its ideological privacy to other parts of the world. what i would like to argue with that long run, that 200-year period of western hegemony is starting to and. it's not over yet. the west still represents 50% of lowball gdp. it used to be 75% so it has come down several notches but it will continue to come down. and what i would like to argue tonight
northern europe, northwestern europe over the course of the 1700's and then further over the course of the 1800's, started to dominate the globe. the pendulum swung from asia and the mesopotamia valley north and west to europe and that spread across the atlantic to north america. and for the last 200 years, that zone, north america and in partnership with western europe, has been at the front of history. it has enjoyed ideological dominance, material dominance and it was able to send out its...
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Jun 28, 2012
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unemployment across europe. -- on measures to cut youth unemployment across europe. >> we are relying on this government and on you, chancellor, to insure that our agreement is reflected in the outcome sent to the european council. that is the only way you will see 8 2/3 majority. >> but among german voters, merkel's tough stance is popular. opinion polls show the majority reject evermore rescue efforts. >> i think the chancellor is doing the right thing. because she is being tough. >> angela merkel is doing a good job. i think the way she stands her ground is good as well. i really support her. >> angela merkel, the iron chancellor or the euro terminator, as she was recently depicted by a british news magazine, just hours after addressing the bundestahg. agee's back to berlin for a crucial vote on friday. merkel is fighting on all fronts. >> the chancellor is now in paris to try to agree on a common line with the french president at the eu summit. it is her first visit to the french capital since he took office. >> merkel said the summit would be addressing the future of the european
unemployment across europe. -- on measures to cut youth unemployment across europe. >> we are relying on this government and on you, chancellor, to insure that our agreement is reflected in the outcome sent to the european council. that is the only way you will see 8 2/3 majority. >> but among german voters, merkel's tough stance is popular. opinion polls show the majority reject evermore rescue efforts. >> i think the chancellor is doing the right thing. because she is being...
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Jun 5, 2012
06/12
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he did discuss europe. this was one of his most important issues. >> the weakness in stocks is attributable to what is going on in europe. is it something to be bought or do you avoid it? we have one strategist going all in here. plus, the emergency talks on europe as concerns grow that the debt crisis could spiral quickly out of control. one official was quoted today assaying it's not a matter of weeks on the spanish bank issue. it's a matter of days that they come up for a solution for that. the market is holding up. >> ready in days, not in weeks. breaking it down with courtney reagan, a portfolio asset management. lee, let me kick this off with you. europe is really dictating the markets in the united states. how do you make money on the european situation, if at all? >> you know, i would say the first thing to do is don't buy anything in europe. if anything, i would look at germany as far as the index of germany. i think it's going to be closer to the end of the year, mere yeah, before that country is
he did discuss europe. this was one of his most important issues. >> the weakness in stocks is attributable to what is going on in europe. is it something to be bought or do you avoid it? we have one strategist going all in here. plus, the emergency talks on europe as concerns grow that the debt crisis could spiral quickly out of control. one official was quoted today assaying it's not a matter of weeks on the spanish bank issue. it's a matter of days that they come up for a solution for...
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now while europe is the u.s. is the largest trading partner he pointed out there to detailing the threats posed from the trouble brewing across the atlantic but is the euro zone crisis also helping the u.s. perversely we'll explain finally from bunker timeshare plans to deflation to customers down under from m.f. global australia we'll hear from our viewers all around the world and respond in your feedback let's get to today's capital account. let's see what's new in the eurozone crisis saga. spain needs a bailout the country may ask for one as early as tomorrow now there are conflicting reports and comments coming from spanish officials some refuting that spain will ask for a bailout or when but come on trouble is brewing and different estimates put the money needed for a spanish bank bailout recapitalization whatever you want to call it from twenty seven billion to one hundred billion euros overnight the head of the eurozone finance ministers commented on it said spain will get the green light to listen. spend
now while europe is the u.s. is the largest trading partner he pointed out there to detailing the threats posed from the trouble brewing across the atlantic but is the euro zone crisis also helping the u.s. perversely we'll explain finally from bunker timeshare plans to deflation to customers down under from m.f. global australia we'll hear from our viewers all around the world and respond in your feedback let's get to today's capital account. let's see what's new in the eurozone crisis saga....
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Jun 7, 2012
06/12
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CNBC
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don't forget, 20% of their exports go to europe. europe is much more important. they are more intertwined than we are. >> the timing, jim, was interesting, too. because headlines that the sovereign wealth fund is backing away from european assets and the rate cut lowers borrowing costs and the one-year deposit. if you wanted to read into it a little bit, they said we are backing away from holding the assets but we're in it to help the global economy. >> i think china is the key. we are not the key. we are okay. we are not great. again, the employment numbers are okay. not great. but what is good is corporate profits and anything that makes you feel that the third quarter -- the second quarter is not going to be so hot. the third quarter is going to be better because china is going to not sell it, buy alcoa, you take your life in your hand any time i mention alcoa. that makes me think people will not sell the stocks that went up yesterday. >> let me ask you this. because between lululemon and man smuckers, it has not been a good week. >> lululemon blowout the numb
don't forget, 20% of their exports go to europe. europe is much more important. they are more intertwined than we are. >> the timing, jim, was interesting, too. because headlines that the sovereign wealth fund is backing away from european assets and the rate cut lowers borrowing costs and the one-year deposit. if you wanted to read into it a little bit, they said we are backing away from holding the assets but we're in it to help the global economy. >> i think china is the key. we...
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Jun 4, 2012
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a do hope europe continues to do -- i do hope europe continues to do relatively well. europe is in a recession, but it is not a collapsed yet. -- it is not a collapse yet the bank i do not think that we see a tsunami in the global economy, but it is true that global growth is here. it will be somewhat lower. it will stay on a relatively good level, i would said. -- i would say. the last three or four years, i've got 90% of the time, questions about the euro or the debt crisis to bank it is somewhat sustainable -- debt crisis. it is somewhat sustainable. i have always said, if you are short, you lose a lot of money. i think many have said over and over that we are wrong and you were right. i should say that. but i know there is a tremendous impatience about the european response, and as you rightly said, is germany willing to do more than the $211 billion? which they have said is the absolute cap? 10% of the federal budget. if it comes to the question of do we have to do a bit more, or substantially more, or see the collapse, which will have a negative impact on our soc
a do hope europe continues to do -- i do hope europe continues to do relatively well. europe is in a recession, but it is not a collapsed yet. -- it is not a collapse yet the bank i do not think that we see a tsunami in the global economy, but it is true that global growth is here. it will be somewhat lower. it will stay on a relatively good level, i would said. -- i would say. the last three or four years, i've got 90% of the time, questions about the euro or the debt crisis to bank it is...
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much higher well i mean europe europe they historically have ten percent unemployment there's europe out austerity is not we're going to fall and i think you're saying there's some sort of correlation between public workers and fewer public workers and that creates a private sector boom but the point is nobody's hiring in the private sector the pro. sector right now is dying and no matter what we're session whenever we've been in the same situation from roosevelt following the great depression or in the great depression to reagan in his recession to bush in his recession they've all picked up some slack by hiring public sector workers by putting people to work to get money in their pocket in stimulate the economy and that's not happening right now well i understand but i don't think i think there's several reasons for that one is for the private sector to grow they need a sense of stability both in their tax code their regulatory burdens and this administration you mean anything by the george i think what they need is the possibility of selling products making it making a profit whic
much higher well i mean europe europe they historically have ten percent unemployment there's europe out austerity is not we're going to fall and i think you're saying there's some sort of correlation between public workers and fewer public workers and that creates a private sector boom but the point is nobody's hiring in the private sector the pro. sector right now is dying and no matter what we're session whenever we've been in the same situation from roosevelt following the great depression...
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Jun 11, 2012
06/12
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by these means, we seek to increase the safety of europe and all the world. but, we must remember a crucial fact. east and west do not mistrust each other because we're armed. we're armed because we mistrust each other. [ applause ] and our differences are not about weapons but about liberty. when president kennedy spoke at the city hall those 24 years ago, freedom was encircled. berlin was under siege. and today, despite all the pressures upon this city, berlin stands secure in its liberty and freedom itself is transforming the globe. in the philippines, in south and central america, democracy has been given a rebirth. throughout the pacific, free markets are working miracle after miracle of economic growth. in the industrialized nations, a technological revolution is taking place. a revolution marked by rapid, dramatic advances in computers and telecommunications. in europe, only one nation and those it controls refuse to join the community of freedom. yet, in this age of redoubled economic growth, of information and innovation, the soviet union faces a cho
by these means, we seek to increase the safety of europe and all the world. but, we must remember a crucial fact. east and west do not mistrust each other because we're armed. we're armed because we mistrust each other. [ applause ] and our differences are not about weapons but about liberty. when president kennedy spoke at the city hall those 24 years ago, freedom was encircled. berlin was under siege. and today, despite all the pressures upon this city, berlin stands secure in its liberty and...
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Jun 23, 2012
06/12
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and europe prevent economic disaster? i'm john harwood sitting in tonight for gwen ifill on "washington week." >> i will priorityites efforts that strenten legal immigration and make it easier. we may not always agree but when i make a promise to you, i will keep it. >> your speaker from yesterday has a different view. in a speech he said that when he makes a promise to you, he'll keep it. well, he has promised to veto the dream act and we should take him at his word and i believe that would be a tragic mistake. john: dueling philosophies and dueling pitches to latino voters. did president obama's bold move settle the fight or convince hispanics that romney has a better plan m the ayes have it and a contempt order is ordered to the house. joongs a -- john: a showdown between house republicans and eric holder. and the countries of the euro zonal keep struggling to resolve their debt crisis. >> because of the crisis in europe and the softness you're seeing in growth outside europe that means that in the u.s. we're not growi
and europe prevent economic disaster? i'm john harwood sitting in tonight for gwen ifill on "washington week." >> i will priorityites efforts that strenten legal immigration and make it easier. we may not always agree but when i make a promise to you, i will keep it. >> your speaker from yesterday has a different view. in a speech he said that when he makes a promise to you, he'll keep it. well, he has promised to veto the dream act and we should take him at his word and i...
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moved to europe they would move in to europe and from europe and only businessman who followed the law of the jordan liston citizens they are the ones who suffer a whole want to have personal relations with their. relatives and their close friends and such a partner so i hope it will go on we're moving towards what the first question was . and was with already are your answers this question i can say once again i think that today you direct negotiations between the commission of their joint economic space from the national express and european commission that are. going to have to take place because a number of first just were transferred to national body and now even if we want to do it we cannot do you're in. the negotiation process with the european union with the.
moved to europe they would move in to europe and from europe and only businessman who followed the law of the jordan liston citizens they are the ones who suffer a whole want to have personal relations with their. relatives and their close friends and such a partner so i hope it will go on we're moving towards what the first question was . and was with already are your answers this question i can say once again i think that today you direct negotiations between the commission of their joint...
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welcome back before the break we were talking about europe let's talk about responses to europe from u.s. presidential candidates or their proxies mitt romney's economic adviser recently wrote an op ed in a german newspaper applauding germany's austerity measures advising germany not to bail out greece and on the other side larry summers who worked for the obama administration was one of obama's advisers in that his presidency early on in response are not exactly in response but in similar timing in the washington post wrote his own op ed proposing of course the opposite a bailout and massive spending plan for europe so is this at the end of the day just political election year strategy disguised as economic analysis and economic advice and what does that do for the presidential hopefuls we're going to talk about it also while we're on them we know that mitt romney is a little weird we know that maybe americans have a hard time relating to him for evidence just look at his saturday night live version of his son's let's watch that. well we connect with the younger voters are over thir
welcome back before the break we were talking about europe let's talk about responses to europe from u.s. presidential candidates or their proxies mitt romney's economic adviser recently wrote an op ed in a german newspaper applauding germany's austerity measures advising germany not to bail out greece and on the other side larry summers who worked for the obama administration was one of obama's advisers in that his presidency early on in response are not exactly in response but in similar...