that may not happen in turkey because turkey is a polarized landscape. i consider turkish president erdogan to be a prototype of populist leaders globally. what that means is for the last 16 years he has been ping turkish society. he has built a base that loves and adores him and that buys iinto his narrative that out to make turkey great again. the base will buy into his new narrative that the sanctions represent an economic attack against turkey, that washington wants erdogan to fail because turk w's adversaries do nt turkey to become great. , partsnately for turk of the population are not necessarily buying into what seality is, but what reality made for them by their populist leader. erdogan's -- sanctions might hurt the economy but they might strengthen his base and power.e rajini: is they way forward to make relations between the two countries improve?t soner: absdrew brunson's release, i don't see how trump will have an agreeable rkeation with tagain. he might push for sanctions until he secures the release of the pastor. rajini: thanks for coming

i want to turn finally to turkey. there are a number of issues with turkey that i know the state department is very concerned about. one of those is there continued pursuance of the s 400 air defense system from russia. obviously, it would be in violation of half the law. can you talk about what the administration is doing on that front and if turkey does except delivery of that system, when would we invoke sanctions? >> thank you for that question. i have been very engaged with the turks on this. it is a very serious matter. we have been clear in all of our communications with the turkish government that acquisition of the s 400, which we would assess to have occurred when there is an actual delivery of the technology, we have been clear on multiple occasions with the highest level of the turkish government that there will be consequences. we will abide by the rules and when we determine a transaction has been made, we will impose sanctions. we have also been very clear that across-the- board, an acquisition of as/40

, that washington wants erdogan to fail because turkey's adversaries do not want turkey to beme great. unfortunately for turkey, parts notthe population ar necessarily buying into what reality is, but what reality is made for them by theer populist le erdogan's -- sanctions might t hu economy but they might strengthen his base and power. rajini: is there any way forware to maktions between the two countries improve? t ner: absent andrew brunson's release, i don'e how trump will have an agreeable relation with turkey again. he might push for sanctions until he secures the release of the pastor. rajini: thanks for coming . soner: my pleasure. rajini: president trump has called for nfl players who kneel o ring the national anthem suspended without pay. in a tweethe said footballers they should "be happy and cool w and find anoth to protest." it is the latest in an ongoing row between the president and many nfl stars. on thursday night my number of players raised a fist before preseason game as a way of bprotesting leatality towards african-americans and to highlight racial inequities. th

turkey's government violates human rights turkey has arrested german citizens turkey. has scorched earth as we heard. has. prevented german parliamentarians from visiting troops in the field serving for nato in turkey and you'll saying there should be a softly softly approach and also for the sanctions on took as i understand it -- yes i am firstly the softly softly approach. seems to work princes with my colleague dennis you showed was imprisoned on trumped up charges -- no pun intended -- accused of spying simply for doing his job when there are hundreds of others did in prison who don't have a german passport possible is that is did. and and and you know i mean it's it's it's it's it's horrible but i still think. arm that -- we have to somehow at the same time is helping them economic helping turkey economically which important country mustn't break down. and is another reason for this and when a country goes into economic downturns by like in venezuela revolution doesn't happen. that's when people are so busy scrambling for about politics and changing regime it's w

but recent events have put the brakes on turkey's economy. turkish banks and companies have accumulated four hundred seventy billion dollars the foreign desk and just the value of the lira plummets it's getting ever harder to repay those loans. turkish president recha type eridu one has ignored calls for interest rate hikes and rejected any notion of a bailout from the international monetary fund. experts say a multi-pronged approach is needed to tackle the country's economic problems. turkish business and investment in the environment need structural reforms labor market reform fiscal reform education reform all of the forms that are this is a city to cope with the challenges of the twenty first century in the digital age so they have to be priority. ordinary turks are ready feeling that pain prices are rising rapidly and there are fears that a slowdown in business could trigger massive job cuts. in germany some politicians have raised the prospect of offering turkey financial aid but economists say such a move wouldn't get to the core of tu

turkey or would it would it have further consequences. so it is no exaggeration that turkey is moving towards a financial collapse because it's a tragedy how can an economy stabilize the exchange rate and the current account by keeping this high growth rate so there is no signal that there is a political will to reduce its kinds onsen based growth rates at the same time if this collapse comes of course we have a large amount of loans in italy and we know at the same time that italian banks have been in troubles for months or just remember after the elections how critical the situation was in europe and if turkey the financial system collapse in turkey the central bank in europe has also again to bail out italian banks and that will trigger a political conflict again and europe so in this bigger picture. destabilizing turkey is not in the interest of the european union i don't they are saying thank you very much for this analysis. and iran demand remains high for stay healthy on industrial equipment but a growing number of companies and po

for tourists these days turkey is a shopping paradise. the fall of the turkish lira so prices tumble. that is if you're paying in europe or dollars. there are long lines in front of luxury stores like this one. but for how much longer. this steel plant in eastern germany exports ten percent of its output to the united states the high end material produced here is used in the oil and chemical industries. so far u.s. president donald trump's tariffs have had little effect on the company's sales in the u.s. that's because the special i still made here is hard to come by on the american market but the twenty five percent levy has had a major impact on prices when. we have no alternative but to keep passing on the cost of the twenty five percent punitive tariff to our customers. i know it kind of it's because our american buyers can't source what they need on their domestic market. they have no choice but to absorb the increases. so e.u. firms producing niche products remain in a relatively comfortable position it's a different story for compa

and turkey. president ever to one and the turkish government i have a message on behalf of the president of the united states of america release pastor andrew bronson now or be prepared to face the consequences of approaching us with this kind of threatening language will not benefit anyone it is not suitable to use such language against a country like turkey which is still cooperating with nato to the highest level but we have learned a lot of problems with the and there are americans and turkey. made this brownson issue will be tribal issue an american strike to oppress turkey you know to the other teams this is a speck out of the hell out of the problems with the in america and turkey especially footlocker more money and all sorts of. fighters in syria why does the passer bronson is a very important for americans and we cannot understand that maybe because this is related to. american elections coming elections in november but india and turkey you know were accept any interests from any countr

we are very focused on turkey. we are flirting with the flatline on the dollar against the turkish lira. we have a little bit of a boost yesterday from some more of the conversation with the finance minister. although some financers remain skeptical as to the steps turkey is going to take to secure its economy. steven mnuchin and sing more measures will be taken against -- steven mnuchin saying more measures will be taken against turkey. what do you see in the bond markets? nejra: the turkey treasury yield not doing much in the markets. the yield curve is below 25 basis points. the curve hit a fresh cycle though, heading the 23 handle at one point this week. the 10 year treasury yields are steady. in terms of how european bonds might move, we have the cash opening happening right now. at the opening at least it looks like we will be fairly steady on bonds and oat's in france. let's get the first word news with juliette saly. the u.s. a treasury secretary has said washington is ready to hit turkey with more sanction

that turkey has basically. the means in line to be very successful and to create a boom and what you saw at the beginning of this of the century it was that turkey came out of crisis what with hyper inflation which you don't see right now and after that had a decade of brilliant growth so that there's a lot that still speaks for turkey as you point out what needs to be billed as the trust of the trust and for rockets into turkey it's basically basically that frank kaiser the german chamber of commerce in turkey giving us the insight thank you very much thank you very much. and before we go as more and more countries decriminalize the use and possession of marijuana the market for legal cannabis is growing and the industry has just seen its biggest investment yet u.s. wine and beer maker constellation bought shares worth four billion dollars in pot producer canopy growth the company is based in china where we'd will be legal as of october spending on legal count of his worldwide is expected to more than double t

their popular turkey the most sold small foods in the country. but president wretched tired added one is calling on his people to boycott american brands and switch to others instead. all over the world. on the streets many seem to think that a boycott of u.s. brands is easier said than done it with the government would have to stop apple products from entering the country and banned their sale how's that supposed to work you can't just make the i phone disappear from turkey. and if it deliver the reason android phone at home which will use i support that way costs if. i have to use the product that fits my needs i'm not having anyone tell me what to do. and with an economic crisis gripping the country many turks aren't exactly in a position to buy a new phone many turks appear willing to take part in the board called president out on his calling for ready to throw their merican phones with the south korean model in this one but the problem is if you're on a minimum wage it would take you four months to paid off that might be a price too high for

than turkey is dependent and then we depend on turkey's well being of course we depend on it but we have the better carts and that should be the condition for a fair deal that we are aware of our possibilities and our influence and how much do one needs europe and the west to modernize turkey to stabilize turkey and to get sea economy going again and then these are the conditions for a fair deal and turkish would be interested in it we should be interested in it but we shouldn't make a shift to cheap the of from our actually a good time to to help turkey to get back on the democracy trappy ya first on the economic stability track and then of course. democracy how it works in germany and france i don't think it's realistic to expect that this is the way turkish democracy will look like on the other one in the next years i mean he just it's a country he's a new assault on he's he's almost an autocratic leader said. is no longer going to be honest not all this talk of pious conditionality is not going to be listening he's going to be looking the other way no no he is listening and you

this is news coming to you live from berlin turkey's president raises the stakes in the showdown with the united states the president says his country's financial system is under attack by the central bank promises do little can just leave but it's unclear if the measures will be enough to stop the slide also coming up. this german student who was sent home from china off to making a film the botched human rights advocates we asked given by beijing's crackdown on dissidents. and officials convoyed in mali's presidential election runoff president. is the favorite to win in a poll of modern but it's free mr tress. although i'm on the thought you might get to have your company. turkey central bank says it's rage a tick all necessary measures to shore up the country's currency deliver the announcement comes after the leader tumble to a new low against the dollar and fears grew that the crisis could spread to other markets the currency has nosedived over worries about the turkish president's increasing control over the economy and as a diplomatic dispute escalates between turkey and the un

is turkey's largest trading partner by far and the biggest investor as well so a recession in turkey would be bad news for many european businesses. european banks especially those in france italy and spain would be hit hard if texas businesses couldn't pay back loans denominated in euro's dollars. that the economic trouble in turkey could also have serious political consequences some experts predict a new set in refugees and warn that domestic extremist groups could try to take advantage of the economic and political turmoil. that the president added one keeps blaming the west for his problems he threatened to turn toward authoritarian states like china and russia turkey might even decide to leave nato. what does economic and political instability in tefillin mean for the rest of the wild. how dangerous is an unstable turkey's i think it's very dangerous i agree the first to lose would be turkey true but maybe the second to lose would be europe it's very close we have to think geographically. there are three point five million syrian refugees in turkey turkish government as a swarm

with erdogan's turkey. this is a country which -- it is not overstated when we say it is a key country in the region. it is a key strateeic ally. ally. big u.s. base and has taken anddmore than 3 million syrian refugees, basically saving urope from migration problem. is seen assexterrally geopolitically important. at the same time, we have had the situation geooolitically -- we have had erdogan strengthening his grip, becoming more aathoritarian, coming basically castigattd for human journalists, cracking down on civil society, and any form of dissent. there has been that fault line for while. now, you have the personalities of donald trump and recep tayyip they have massive egos. they are both very thhn-skinned. they are both ultranationalist in their own countriess and they are both men who are not known for either apologizing for aaything aad giving themselves blame, and ever for backing down. we haveea class of titanic egos, they clash of leaders which was an accident waiting to happen. so already a fra

turmoil in turkey. each day brings new twists as investors looked on with alarm. >> the market reaction tells a powerful story as to the insufficiency of the latest move. >> turkey is trying to rewrite the practice management chapter in the playbook for emerging markets. >> the u.s. and china resume talking about trade talks. cryptocurrencies go on another white knuckle ride and elon tesla plan to take private puzzles the market. >> the sec is taking this to the next level. it has become a more serious investigation. >> tencent and walmart lead a parade of earnings reports. >> we are seeing this first profit drop in a decade send shockwaves. >> this is likely the earnings peak in retail earnings. >> the challenge of getting excited about equities, all the investing in e-commerce. >> it is all straight ahead on "bloomberg best." welcome. i am david westin and this is "bloomberg best," your weekly review of the most important business news from bloomberg television around the world. in the market -- momen

turkey, signs of more pain ahead. those remain highlighting the fragility of the economy after years of growth at all costs policy. as you can see in the chart, the yield curve inversion continues and the two year is rising faster than the 10 year notes. that is something to look at when it comes to more signs of pain ahead. haidi: thank you. we will take a look at turkey. and spreading in the longer term to the rest of the em space. theed by investor, cofounder of mobius capital. great to have you, mark. the problems facing turkey, they are fairly contained. are we starting to see a turnaround in the asian session today, a recognition of that? -- in recognition of that? >> yes, i think turkey has a small part of the index, in regard to index you are looking at. so the good news is that the etf's are not forced to sell down because of the decline in the turkish market, the lira. that is the good news. the bad news is if turkey is forced to close the exchange window, for the foreign investors, so they cannot get out, t

he is under house detention in turkey. turkey said he had links to a 2016 coups. this follows the sanctioning of other officials. the u.s. is ready to escalate situation. an appeal court is ready this week which could lead to a de-escalation. yvonne: the you see this latest diplomatic spat affecting other foreign-policy issues? >> absolutely. i think it already has some ways. turkey's president said he will seek to forge other alliances amidst this bat with the u.s. -- with the u.s. he reached out to the french president and angela merkel. they will not comply with u.s. sanctions on iran that supplies oil to the country. turkey is a nato member. it is astounding that there is this risk. -- rift. we already see the shifting alliances are you this will only further that. yvonne: thank you. let's bring back oliver. is it time to move on from watching turkey when it comes to the em? it iso not know whether time to move on, but it will take longer to lay out. the question is how does europe behave? will they counter the u.s.? i think that is doubtful because they are t

the trade war and turkey. the only one-two punch, stocks closed off the lows but boy, they were down. 10 cent, tech stocks were the lowest. the s&p 500 again down for a fifth out of six sessions. let's go to the commodity story. the bears in control. g.t.e., copper and commodities as a whole tumbling amid the trade woes and the big movers. tesla sexilet subpoena worries the least down stock of the bunch. macy's as mentioned, getting hit hard excite the fact it beat -- despite the fact it beat earnings. ten cent off its low. and micron, the chip sector getting hit hard. a lot to do with the fact we had a lot hedge funds dumping micron. let's go back into the bloomberg real quick, g.t. effort. retail sales were jumping more than forecasts. didn't matter, stocks were in selloff mold, joining the rest of the world at a better than one-month low. haidi: we have earnings coming through on the bloomberg here in australia. australia's biggest global insurance company reporting a first-half cash profit of $385 million.

that doesn't impress the ratings agencies they're downgrading turkey ever further making it harder for the country to raise new money. independent observers say the economy's biggest problem is the president himself. they're predicting a hard landing for ankara. and while at the moment people are only affected by rising prices. a wave of bankruptcies could soon roll across the country plunging many families into poverty. fresh out of the a.t.m. minus five zeros in the state's battle against hyper inflation and looming sovereign default the machines will only supply ten new ball of us at a time right now. with. the dumpling already cost twenty shoes eighteen hundred supposed to work. no more plastic bags bursting with banknotes anymore no seven digit prices for vegetables and fruit or two million for a bottle of water vanishing zeros out the only angle and you have all of our also sees the minimum wage balloon by three thousand five hundred percent with wages prices and the ball of our exchange rate all pegged to the states all backed cryptocurrency the petro economists and business fro

it's not just about turkey. what is consuming more of the market is this slowdown in economic activity, particularly investment in china, where we saw fixed investment dropping to an increase only 5.5% year on year, the lowest since 1999. that is what is driving the prices. i don't think it is over. alix: a lot of it was blamed on the dollar. we have a chart that shows the negative correlation between copper and the dollar versus a emerging market equities and copper. really, the negative correlation with the dollar isn't that it's like, .3, negative three which supports your point that it's potentially a slowdown. >> i think the dollar obviously is playing a role. there are other factors and suppliers. you look at copper, fiat had a strike in one of the world's largest copper mines in chile. there are some factors related to the dollar. there is the supply factor. i think the economic slowdown in emerging markets is what is really concerning to the market. because of previous crises, particularly 20 years ago,

well turkey has condemned the u.s. decision to impose sanctions on two of its senior ministers is the latest effort by the trumpet ministration to get istanbul to release an american pastime under brunson was detained in twenty sixteen accused of helping the group the turkish government says were behind a failed coup attempt alan fischer has the latest from washington d.c. . angry words have been exchanged between the u.s. and turkey over possible sanctions no the u.s. has decided to act at the president's direction the department of treasury is sanctioning turkey's minister of justice and minister of interior both of whom played a leading roles in the arrest and detention of pastor brunson the two ministers targeted a senior figures in the turkish government still a man so i loue is the interior minister abdul hamad google is the justice minister the u.s. says they are involved in organizations responsible for the continued detention of this man american pastor andrew bronson the taxi he's a spy who was involved in th

turkey's president. at rest this large rally.

turkey's president calls for a boycott on u.s. electronics even as the lire studies. decades of sexual abuse by priests is revealed in the u.s. state of pennsylvania investigators believe the victims could be in the thousands. and police in london investigating a suspected terror incident after a car drives into pedestrians outside. parliament. rescue workers in italy are searching for survivors in the wreckage of a highway bridge that collapsed in the city of genoa at least twenty five people were killed and many others injured when the miranda bridge came down these are live pictures coming to us here from the scene where the accident happened during heavy rains sending vehicles plunging to the ground it's in an industrial area on a main highway that connects italy to france the reports. from the air the scale of the devastation is clear huge section of genoa is miranda breach simply govern. the bridge collapsed on tuesday morning during the storm sending vehicles on his motorway plunging to the ground. level of i heard a loud rumble and i went flying i flew about t

deal with turkey all of. this is. to say because it's a german way of looking at things that somehow people states and leaders of states are rational actors they're not look at putin look at trump. look at some of the things our own leadership has done look at greece i mean you know. look at venezuela look at mr maduro rationality does not impinge on politics especially not on autocrats therefore if turkey goes down the drain just turkey the this is will not mean the end of mr i don't just give him an opportunity to ramp up his his autocratic way of dealing with society that everyone i mean it's. people in times of stress people to dictators when they feel a little better they think about democracy that's the way things go and this idea that we're all rational actors is just not borne out by reality so the point is now we are interested that turkey doesn't go down the drain economically that's a prime interest because if it does go down the drain economic everything else goes down the drain now if we help them will th

in recent years turkey has been attractive for foreign investors not least two to low wages and strong economic growth. capital flowed into companies and infrastructure there. but the government's transformation into a more authoritarian state has scared many investors are inflation has escalated the turkish lira has fallen foreign capital has pulled out if you're caught out turkey has lived beyond its means for years the boom of the end of one era was dependent on credit and that was fine as long as turkey had a sound economic policy and an independent central bank that guaranteed the value of the currency. but that's no longer the case so of course foreign investors aren't willing to finance this boom anymore as they were before. if investors don't get the returns they want in one country they simply move their money elsewhere. if the feel was cause there's a lot of uncertainty in turkey it'll cause the economy to slow down significantly and maybe even slip into a recession. in twenty seventeen most foreign capital was directly invested in asia around four hundred seventy billion us

turkey and the u.s. go head to head on trade the result turkey's currency is in freefall and the us president is promising more tariffs just around the corner i'm sorry harmon in berlin this is the day. if there is anyone who has dollars euros gold under that pillows. they should go exchange it for turkish lira our banks. i have just authorized a doubling of terrorists on steel and aluminum with respect to turkey as their currency the turkish lira slides rapidly don't work against our very strong dollar . this is a national domestic bottle. this will be my people's response to those who would waste an economic war against us. let's look to. our relation to turkey are not good at this time. also coming up why no pilot striking across europe they want better pay and conditions at the budget airline. when there was the respective sort of movies we talked to all of the pilots and even the old school for discovering truth. and stories coming up but first it's always awkward when your friends fight but when th

henry: the real question in my mind is thinking about turkey g8 -- turkey geo strategically. it puts turkey in an important point from a western standpoint. you have seen it back off from nato and is turkey's overtures toward russia, arms purchases come a step in that direction or is it going to remain western focused? marcus: turkish lira gaining ground. authorities making it more difficult for banks to shore the currency. they have done a de facto rate hike, but gone around it by making it more expensive to borrow against the lira. if they did hike interest rates properly, it would be a major step forward for turkey and we would see a wider e.m. rebound. scarlet: u.s. stocks on a broad-based selloff domineering declines around the globe, commodities as well. materials and energy stocks are the worst performers because we are seeing weakness and metals. romaine: when you look a lot of the base metals, copper and even the precious metals space in gold, you have to wonder what it is telling you about the economic picture globally, particularly in emerging markets nations and i

he implied that turkey is ready to go to war even with critics in his own country. social media use it in the there are economic terrorists on social media the judiciary has taken measures we are pushing them with the capital market support and we'll impose the necessary punishment once we seize them they are all traders most. everyone is also warning turkish business owners not to declare bankruptcy but many businesses still have to shut their doors closed shops like this one have become common places across many parts of istanbul finding a new tenant will not be easy despair is mounting as turks wait for their government to introduce confidence building measures and stabilize the currency in freefall room aside instead making the rounds that uncorrupt will put the brakes on currency exchanges all freeze private this adds uncertainty looms over the streets here and panic isn't so far away economist mustafa's in mess thinks the government should step in immediately and increase interest rates. the country has to pay up to two hundred thirty billion dollars in foreig

turkey and china. as you say rightly. in normal day on the non-turkey influence day week. shortest, thinnest of harris, kelly scrape this one because she told me something i did not know. day for china becoming the world biggest oil and gas importer. it was wonderfully presented. kellyl feel guilty but did not get the victory so i vow that every time she is on for the next 20 years, she will win. this is bloomberg. ♪ mark: this is the european close on bloomberg markets. is due to holda an option shortly as a central bank interest rate by five .ercentage points, 245% it is the highest in the world. the secretary and central-bank ex-president will come to new york to meet with investors and a dress the current economic situation. joining us with more is -- from buenos aires. a much to do have with some events in turkey and concern over that as it does with what is going on in argentina. >> yes. argentina has been in the limelight for investors for a few moments since it has had its emerging route. the one that pushed to seek help from the national monetary fund, each gave

turkey has intergrated with the west despite the rhetoric coming out of turkey. they are looking for a solution that is based on europe and ultimately the united states. europe has significant grievances and even if the pastor is released, 15-20 other americans that are being held in turkey on trumped-up charges, there are a whole lot of other challenges that turkey presents to the united states. ramy: on the other hand, turkey and the government there, they say that they are going to try to keep things afloat but not by normal means, not by rate hikes. it is just too little right now. do you think the president has a reason, an argument for this case by not going the normal way? >> the president has unorthodox views of the economy. he believes that high interest rates cause inflation. the turks are trying to deal with this problem with fiscal policies rather than monetary policies. it is hard for the president of turkey to concede that the central bank to raise interest rates to the extent that most people believe they need to be raised. the president of turkey,

never had turkey's vow to retaliate against the u.s. after washington imposed sanctions on two officials at ankara over the detention of an american pastor but turkey rejected an earlier request by the us that i don't return to his homeland brunson is currently under house arrest turkish president says the u.s. is being disrespectful. we've shown patience but the step america has taken does not fit a step taken towards a strategic partner in america has shown serious disrespect towards turkey. on wednesday the trumpet ministrations slaps economic sanctions on two senior turkish officials and said any property they have in the us will be blocked turkey responded by saying it will introduce sanctions of its own they froze the assets of the us officials in the country ankara says those targeted would also be prevented from doing business with turkey and the pastor of the center of the dispute was the tamed back in twenty sixteen in connection with an attempted coup against the government is accused of espionage and assisting terrorist grou

and turkey exporting companies feel the pinch their country's economy is thrust into the global limelight. it's. welcome to do business and we start with italy where the government is considering different options to fine infrastructure group atlanta the company that operates the motorway on which a bridge in genoa collapsed the of this week investors have already punished the company bringing shares down over twenty percent after they suspended trading this morning is the parent company alpha out there which some are blaming for the disaster the italian government has threatened the company with heavy fines and is demanding it contribute to the bridges reconstruction stratus says it conducted regular safety checks investigators have not yet to stop established the course of the collapse. so clearly when it comes to who is at fault the verdict is still out but a tragedy like that raises a lot of questions of course and for more let's cross over to already bought saw financial correspondent of the from fred stock exchange early if the collapse was caused by negligence on part of the operat

into turkey turkish lira in order to help the country. people on the markets to not really believe that the government wants to cooperate capital controls is something they reckon with and also of course people are talking that the international monetary fund might have to step in their markets are rattled by a nosedive by the turkish lira reporting from frankfurt thank you. it's at the peak of the holiday season ryanair pilots are ramping up the pressure on their employer pilots in germany sweden ireland belgium and the netherlands went on a twenty four hour strike on friday forcing europe's largest low cost carrier to axe about one sixth of its scheduled flights after ryanair has recognized unions for the first time and in its thirty year history it has been unable to quell rising protests over slow progress in negotiating collective labor agreements. it's the biggest industrial action ever to hit europe's biggest budget airline the effect is visible here at frankfurt airport where checking deaths are unstaffed and passengers nowhere to