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tv   NEWSHOUR  Al Jazeera  December 28, 2018 5:00am-6:01am +03

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the very earliest mesopotamian scriptures that we have are actually debts and products calculating who owes what to whom in temples and other large bureaucratic systems. so what you have actually your credit systems are in mesopotamia they don't have. private data has always existed but government data first emerged in italy in the major trading cities during the late middle ages. florence jenner and venice were constantly at war which cost them dearly. to pay for those sovereigns borrowed from prominent family first government bonds were traded paying interest. those prominence creditor families founded the first italian banks that started lending
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a lot of money to european markets who were caught up in endless wars. most often the bankers were worried by the warlike rulers an easy way of getting rid of debt one that would be used for centuries. at the time governments had power over creditors only much later would that balance of power be reversed. after the second world war in one nine hundred forty five america's marshall plan granted thirteen billion u.s. dollars in aid to europe's industrialized countries exceptional growth followed and the thirty years after the war were good. so good that they were known as the economic miracle in germany and the glorious thirty and france business was brisk
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industry was in full swing and the growth of consumption was spectacular. she declined the ballot on the news you didn't go has basically put it to school august and certificate you molly movie year presumably dyslexia will be on course so much from your machine and if we were to do our off a component on value of film and or goes to show it would really phenomenal in bungay us you did resign i wanted barry was that i was phenomenal cause it's all in there on time the b.b. was an image will be a few miles of iraq good will be vivid. in croissants. by the end of the post-war boom in the early one nine hundred seventy s. government debt in europe was
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a great called lows thanks to growth and inflation but the economic machine would soon be upset by two major events. good evening on august fifteenth one thousand nine hundred seventy one richard nixon the president of the united states his coffers had been emptied of their gold reserves by the vietnam war announced a staggering measure that would drastically change the world economy. and the dollar against the speculators. i directed secretary connally to suspend temporarily the combat ability of the dollar into gold or other reserve assets except in amounts and conditions determined to be in the interest of monitoring ability and in the best interest of the united states. but it was not a temporary measure at all the u.s. president definitively kept the fixed relationship between the dollar and gold. the
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donor became a floating currency like every other currency a round the world. all the currencies of the world that were either tied to the u.s. dollar of the british pound by one nine hundred seventy one we're now pure fee at currencies they're not backed by anything they're just backed by the confidence that people have in those currencies. abandonment of the gold standard kid the way for significant currency market speculation. the free circulation of capital on international markets intensified it was the beginning of a period of great financial instability. yet. two years later in one nine hundred seventy three another major event occurred the first oil crisis. in one year the price of crude oil soared
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going from two to six dollars about my. normal necessity to be going to meet. the dude who could be carter or to dinner sometimes i could use a swiss on this subject don't include the absolute perfect the minute you go to miter and see like democracy it would set up a financial support him and no one knows i'm on but the knowledge will not suddenly produce be colored boozer. comedy block long and pretty exact monem shoes put it to . a sudden increase in the price of oil weighed heavily on the world economy. it put the brakes on growth. production costs went up prices went up. inflation is skyrocketing.
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high inflation has a major drawback it impoverishes savers and investors since their money depreciates . for government inflation became a new enemy to be defeated at all cost. after removal going on would have wrestled a brief federal sat at all those are the federal reserve there is to slow yeah follow easy late class will this no see you for valley going to me community really classy going to the andris around you cause i said i used to our classic good stock of israel if i was eagleman and gone by gar on credit during the debate you feel silly it put you to such an icon by the convo oppa like you they are year to dish while much other fast your much of the money for today are see. predicted do the kills you simply did before i logged on it can go years it is on top when i
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recall some of the if there are so many to not occur before or is it an economy to defeat it on a cyclical season was when to go to make it up it will moan that it is always under an economy with a monitor fault which is additional lies of trying to put in for a job has got to be that the developer is a suck to good at it can do pretty good continue that. noble. i don't know not honestly yelling. completely ga. that he knows will be sold on. twenty that it be weeks on a back to the out of pocket would be he kimosabe on the day. if you didn't know but starting in the one nine hundred eighty s. the industrialized countries began to borrow heavily on the international market after which their public debts would never stop increasing.
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margaret thatcher became prime minister in the u.k. and ronald reagan president and the united states it was the advent of neo liberalism and economic doctrine that also spread throughout europe. governments everywhere were lowering taxes privatizing public assets these would be the years of easy money. stock markets expanded wall street in new york the city in london. on both sides of the atlantic governments deregulated bank credit unchecked capital flows moved through markets worldwide. by deregulating and liberalizing those governments became dependent on financial markets which by then were an inescapable part of the economic system.
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the debt machine was taking shape nearly everyone went into debt governments businesses and individuals. the economic system had turned into a machine for creating debt. and the banks got rich on the interest paid by borrowed. credits became the primary fuel for growth but how does created work. banks possess only a small amount of the money they lend money is created by private banks on a simple request for credit and a promise of repayment. the sum is raised as soon as the loan is repaid that is a huge thing and it's. how we've always created money from the beginning and it's a wonderful thing if you have a banking system that can create credit like that is a very good thing. because it means you can create finance in a crisis you can bail out
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a id you could finance climate change you could you can finance a war and that's how we've always done this the public hasn't understood that the public thinks that money comes from me working hard if you know for as you know a day in the soil working hard and at the end of the month i earn some money. a lot wrong the bali bomb of it so the it that i'm going to be also the renewably a lot of them to come leftovers dear is going to bury the view of a little. void that would be in people raleigh i believe it lives that i'm a lawyer for me to do it because there are no border little laws rocky did the new york city lit up usually some of it well the order of a new limply with the clear body belongs to a body present on the go on piece also to know the all is a source on this persona for example if it is another one in detail and it's only
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going to make a lovely pop go to to put to the put it document utility economy manassas on if you lost it going to tell you going to the central bank produced five percent of the credit in the world the private banks produce or create art of the net ninety five percent of the credit in the world and they have no virtually no regulation over that now what kay has argued in the one nine hundred thirty s. was we must manage this process it can create vast bubbles of debt it can go out of control. the nine hundred twenty nine wall street crash in the united states prompted the british economist john maynard keynes to warn politicians. the credit machine needs to be controlled to benefit all of society not just speculators. when we managed the financial system between one thousand nine hundred five and one
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nine hundred seventy one there was not a single financial crisis anywhere in the world and then in one nine hundred seventy one the bank has lobbied and they said no no no we don't need controls you know the market will discipline us we will blah blah blah and we began to lift all these regulations and crises began one after the other first at the periphery and then in a coup. one thousand nine hundred nine saw the birth of the euro and the european central bank had been created to ensure its stability. at the time global growth was strong the level of public debt was starting to decline europe was breathing easy.
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confident financial markets lent generously to governments and the weakest economies spain greece italy portugal suddenly had access to loans a very low interest rates close to those available to germany. that low cost financial windfall was an economic boost all was well fall out. meanwhile in the united states america's housing bubble was expanding and in two thousand and seven the subprime crisis struck thousands of homeowners lost their
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homes they had taken out loans with interest rates that rose sharply and they found themselves unable to make their mortgage payments. many banks were in danger. on september fifteenth two thousand and eight lehman brothers one of the largest u.s. investment banks collapsed because that in one was our supply. of an immense because it is seven months because the bonzi presented itself so that your couscous a posse of honestly didn't want was there to give you the presumption to be wrong don't join the focuses them continue across the uk if a few more on to feel humble see debt good particularly the presumption the currency get on play. is just good as can you are clearly for it could be done you can't use fondly the nichols's diskeeper properly it is surprise to us that in a while that was done ok bob almost did on his own may only have it the coming every other time is over develop of wa but also man of all illnesses because of
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a busy ok probably also on our ration the bones equal is commercial good i took up so i did a fade to distribute he got on the shoes with his own did suggest that the other animals. after the fall of lehman brothers european banks with close links to american banks risked bankruptcy in turn. governments only just managed to save them in order to avoid the collapse of the whole system. not on an officer who you want to switch on that are keeping your bond to god you have to prove the devil rip it is actually take you on to the proof if. proof dog preaches three hundred preform food new proven food in a prison guards in prison going to prison on a system hostile if this was just.
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in spain and in ireland after the advent of the euro and thanks to loans from german french and british private banks developers invested heavily in real estate . and a big don't need to back order to the good meaty danny and the rest buy new market is a or both back to on your longer. than yours morgan old labour's one. speaker live on a enough in to do blair in gabby douglas the shift to new york on the one dot. com you're allowed like we're going to you guardedly booklet when i know the book where bad not bad why are. it in sybil eight let the ski said cadre back their best course salad bar. the movie yet you see it lit it
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up. daughters want to get in front of why do so potty also called it a sector if you know you don't do you want to last minute nodded from our gas i got at the hallmark to clip it at subi but maybe on bach if you know he also confers a cost that he been did indeed p.v. equals don't leave or do convert a mass that you can often do not get people to. step into the unknown with central america's first ever theatrical production by actors with down syndrome. a life journey illuminated on stage each performer transformed with the raise of a curtain. witness time to love a backstage tale. on
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a jazzy oh. i may have it every week a new cycle brings a series of flaking stories to tell you they're listening post as we turn the cameras on the media and focus on how they report on the stories that matter the most on al-jazeera. and taylor nanda with the top stories are now jazeera saudi arabia's king has announced a major government reshuffle as the kingdom struggles to contain the political fallout following the murder of. a series of royal decrees king soundman announced changes to key national security posts including the demotion of high profile saudi
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foreign minister and bear to minister of state for foreign affairs in jordan has more now on what the reshuffle could mean for us saudi relations it's likely not to the have much of an impression on. members of congress either in the senate or in the house there is widespread discussed still with the saudi crown prince mohammed bin psalm on whom both republicans and democrats have said that they believe was responsible for the murder of jamal back on october second and in fact they are citing the cia's investigation and conclusions that this murder would not have happened without the direct involvement of the saudi crown prince and because this cabinet shuffle does not involve him directly the reaction we couldn't to supply a would be well really what difference does it make the united arab emirates has
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reopened its embassy in the syrian capital damascus it was closed for nearly seventy is the iraqi flag was raised again during a ceremony attended by diplomats and journalists the u.a.e. broke ties with syria in february twenty twelve and was one of several regional states which was backing groups fighting government forces. tensions a high head of sunday's long delayed presidential election in the democratic republic of congo riot police have fired shots to disperse protesters in the eastern opposition stronghold of benny voting has been delayed until march the government says the move is necessary to contain the a bone outbreak which has killed more than three hundred fifty people. indonesia has raised the danger level for the and that krakatau volcano that erupted last saturday causing a tsunami that killed four hundred thirty people experts and widened the no go zone around the volcano to five kilometer radius as they fear another eruption residents
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have also been warned to stay away from the coastline. as the headlines do stay without his or that machine continues next morning after that. the democratic republic of congo is finally heading to the polls after a two year delay do we announce the winner of this already controversial presidential election join us for special coverage of the osses election on al-jazeera. the two thousand and eight financial crisis threaten to completely disrupt the global financial system governments made the choice to bail out big banks and to rescue troubled economies. so that they bark. see some really striking b. pascoe seat and safe and well as old granddaughter. a model economy.
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extraordinary extraordinary. defeat. anybody feel see if you flew the pity and empathy do you. have a good talks are about some who are both. good sun up of approved. school have the best little dogs attack as you know x. how the nebraska pizza guy faster. to come into. him she'd be a. little. you could see people a communal. busk you call it a says do p.c. signals c c c that is milby really label q.q.
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pretty. lawyer because if you do see if you can roll a new will fix human will close to the donkey populace you couldn't. if governments had to bail out the banks it was because they could not be allowed to fail since those banks are us they are the accounts of millions of citizens we are caught in the debt machine. the economic crisis and the government bailouts of the banks led to a spectacular increase in public debt in iraq the deck machine spiraled out of control. the first country to declare bankruptcy was greece in november two thousand and nine the newly elected prime minister george papandreou revealed the real figures
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that had been hidden by the previous governments greek public debt had reached one hundred twenty nine percent of g.d.p. well above the sixty percent threshold set by the masters cittie. he asked for help from europe. now you do some a good to see most our bodies are dead most in iraq. in that it will be easy to miss and his most epic says well you know. that announcement was like a bolt of lightning striking. the german chancellor weighed in on the question of did in my. day off we did so called and all. of those are my words and so i've learned to get in line for a long long view of so-called end for tots like the common theme is not with the
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mothers of the movies i lump all of them all on their list even. him and him of you don't he. was commonly used as an r.v. . in one thousand nine hundred two the master treaty set out the terms for e.u. integration it forbade the european central bank from bailing out indebted countries would european governments respect these terms with a guaranteed leases debt should part of it be restructured or cancelled or should they help greece pay its creditors the heads of state could not reach an agreement as europe hesitated and markets speculated on the greek debt confidence collapse the fear was that if greece restructured its debt. might the markets pullback from spain from italy from la belle frost
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and might not europe bring upon itself the catastrophe that it so wished to avoid and therefore the argument was it is far better to give greece all the money it needs to repay its indebtedness than to run the risk that the market would perceive a sovereign restructuring in europe. as infectious as contagious . only after six long months of crisis europe finally decide its bite resistance from germany to lend greece enough to pay its creditors. a smaller one of it has you broke a new dog today on duty like i said a baton a lot less honorable. overpass and cement and as i fell on i could problem in europe i would eclipse drop it off because it you know pretty near by you comment unless it be your bell on this you did this looking as you know we don't listen as
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we know it would dislocate if not it is that last year it appeared out of baghdad not for call me you know number one our data to all basket one copy just a glare a book to do or dip in it immediately. said brought it out i get it off it just go say so they did that or via keep the soups they do at a kiosk the p.v. booth. as you say if you ask about it not one euro of debt has been written down in these years what has changed is the identity of the creditor so money was owed to bondholders in two thousand and ten it's now owed to the i.m.f. in the e.u. . if you can solve a debt crisis simply by changing the identity of the creditor and then this one is solved. being in debt isn't only about owing money it's also about
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being in the wrong there is the financial data but also a psychological debt that weighs just as heavily on the inhabitants of the indebted country. debt and. kind of double jeopardy. or did you it by secret insult to decrease your. oh not days to finish joe bus. says if one day i want to keep ability economy. just because i happen to live in greece somehow i'm a sinner i'm a bad person because of some political acts done by political representatives of one kind or another. therefore it's ok for people to have their lives destroyed
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it's ok for people to have to pick through garbage and not have anything to eat it's ok for cancer patients to be denied medicine if we're ever going to have morality in the world we need to absolutely reject that logic if there's individuals responsible hold them responsible but don't hold a college to very responsible for the deeds of. to resolve the greek debt crisis the e.u. granted financial assistance in exchange it imposed a draconian austerity programme the country was placed under stewardship and last part of that sovereignty it was placed under surveillance by the troika the three delegates of the european commission the european central bank and the international monetary fund. other over indebted countries in the euro
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zone will be controlled by the troika in turn and subjected to similar was thirty five which. which. was. the sound of those protests reached all the way to brussels the troika had become a thorn so much so that the european parliament held a special session about the troika exactions national and european m.p.'s questioned european leaders use us they cannot be many ups you may be years. to program others will be violent as the lover but i love that other stuff we give a shit that i asked them oh yeah it could guess i'm sure there's the degrees. yet if you asked again i got the stare you said that there said arthur oh yeah yeah.
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the troika is the lover there matey the more you know me more p.c. care for. yet the method. valid only mazzy we have here upon this you stop probably my two heroes here to promote the cause then i want to go. parliament in portuguese in parliament in spanish in parliament in evolution parliament even it's not so and above i don't want to go for mining and demagoguery surely you do much your own guns the needs. of the program a d.v.r. . and all of the guns under fire go. up that's a decent programme in quotes was the language the valan. that's a lobed i am absolutely confident sure that if greek did not implement the program the situation will be much worse today i am convinced of that you have
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these experiences to try to fit in since no we cease to sense what. it means look stuff up reasons that the us yes could get a woman to susan. is the deficit because well it is the. gov contrails. it was a lot but if area nor. north i want to go mia. you open it up to predict which of. you is a disappointment the austerity programs were poorly implemented and poorly explained people came to resent you would start to look like an uncompassionate taskmaster
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all over the continent there was increasing support for nationalist parties anti finance and euro skeptic parties were gaining ground in reality asking relative to their own of their asking for i'll be very happy back to that event you are gone alan liberated europe from the monster of brussels knew long and who meant we should and. we can see reaction to the liberalization of fright finance just as we saw it in the one nine hundred twenty s. and it's going to be ugly it will ready is ugly it's ugly in greece it's ugly in france it's ugly you know in many parts of the world where people are saying if my government went look after my interests if my government will not arrange for my young people to have employment then i will look for a strong man who will do that for me who will give me security and give my children employment security and i don't care what sort of strong manatees if he's
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a fascist i don't care if he promises to secure the stability of my life and my people i will vote for him i think that's where we are heading and i don't think our leaders have the vision to understand that the threat that we face. what are the solutions have. curd europe curve the death machine what mechanisms can it use . could it play on inflation as other countries do. little as you know jamie almost without it jimmy are probably almost out of it somehow always has little war on the for want of us here i think you better that out for me said without it don't go best is cool with it would be obvious that they saw it would you. call me said and i'm sure as best adora do now at the base here. should i get your misandry programs likely to make a fortune for the price coffee yet as you know that a book
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a minute then i guess that your duty as it were to charge the poor of alberta for the number two place and a capacity you know the horses that it. following world war two french and german debt was two to three times higher than it is today but inflation literally absorbed it. only but the delmarva little girl openly party job. do system the key until this was all that it was just in them and they would be. eliminated week almost one year old as you know and. don't know the war but harmony come on the first and the first i want to know is that would. you put on more do so legally ma. this is your strawman twenty seconds from polluting.
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your dogs in the school madonna hardware on the doj mark so experts here know we homeschool soft as ice under linux. on this week committee politicked are in league and in order to understand we are only. needed someone so on the server i'm sure and so into naman i meant to have three to sign with an outdoor highs dustier span is a dimension of going to his gate sint does it end in via tut on the alkie a guilt ridden oil wife must all be mousing rehat there must be mention are on this condition of coverage of politics one mention arms of mom. tilt to the bank named to see the hologram and emerald number. less a closer look at the euro money. the strong euro benefits the countries of northern europe but penalizes those of
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the south. is the european union going to fall apart would gross return in reverse the trend. is for it has i heard at least two chua go. really exhaust as you format the police officers the dead download it off it was also v.n. cisco f. it said on the nanny who are in close contact with i had to do pull saw or that you saw they did look at the preuss don't see maggi name good i think i cross off of our head you elected office and i've explored all across all of us on the docket don't so much but i must point because if you know suppose go on. ski fulfill all of the phone says give full when you want within a sleeze up to do because you just did but i don't suppose you did go over an illiterate in that sleazy focus. this was on paul saul so as to do it all more and
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to live in gritty. but do gay bullied gleg siebold is a moment to skew that as was on pause on sil book obama said dude little hope gandhi said the new food lepage if you need there's a limit. to have a monetary union work effectively. what happens is that the more efficient regions or in the case of the eurozone countries become even more efficient and wealthier the poorer regions or less efficient regions become poorer and less efficient. italy south was industrializing until the country unified and in the in the eight hundred sixty s. and seventy's and once that happened if you were an italian investor in the south why would you invest money in the south when you could earn more money by putting your savings in milan or investing it in the north of italy so the south became
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steadily poorer so what are the italians have to do they had to get always and they still doing it had to send money to the south regularly not lend money but give gramps. and then the old days they had the big gossip areally metal door the funds for southern italy which paid out tens of billions of dollars over a century i mean of endless payments that are beneath the wealthier provinces have to send money to the poor provinces not lend money send it. but there is a catch the master treaty stipulates that each country must manage its debt. europe is far from being a case of union. and yet in two thousand and twelve for the first time the president of the european central bank the e.c.b.
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took action. the euro is irreversible we will do whatever it takes we lean our monday night within our mandate to have a single monetary policy in your area and to maintain price the million euro area and to preserve the. i don't indeed need to lose or as you know who niggas get he will prove it and i have the new plan lebanese you eva dia equity in exist apart the push to be did dissociate with the gift khamenei libby lesser know more but torn that being so high up in gesture they act to not be there as will geddes with our situation lifting or small maximum to keep precisely what i don't know even exist about me as you all talk about what i most want hi all been did you feel lost on her litany left one man to move the men do not hit it
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when it bad really matters if you know the dentist in atlanta if you're more on talk about sato a band. what about simply writing off the debt. cancellation can be done to preserve the social order because we don't transform it most revolutions involve cancellation of doubts ironically german prosperity now is based on the cancellation of german that's after world war two it seems very ironic that the german public is absolutely unwilling to even renegotiate debts of countries like greece calling them that centers when in fact all debts were cancelled after world war two and it was that freedom. which actually made the german economic boom. the recovery let it sit on their hands any political one. because if it landed
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a dead gerbil let their head via a surrogate is riki bet as you will that you're about to be one or will be is what we had this was about one global act cruelly though so i thought maybe i will do my go to again is obvious what i said but he did i say go up a thought as a hobby or said van thank the so my go divorce not as a hobby and it was i preach but said. listen i it has free will check any good ass have at it established ascii art that look it was wow look at it as having a dog who did it go look at it he lost it so i vaguely audibles get this like it was on people it like that be so heavily bad and i posted about he was a member of let me get rid. of a known six and you still have to search for the pussy be
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a leg i suppose and do not of all the legs it is due to be president who as it could have a truly good can but he is going to use them physically like me but i have a you can travel to nameless if you want to be public noble and support him six from all that i guess two thirds of us are. good men best cure is you she. is wrong we dont fall over years from part of illusion as you need to be gone all in wont for serves no to move along look see his leg and eyes to see you there was just him he used it just any i was passed on about on and don't encode initial fiscal cliff vote and they get the constants you know dimity the. damage done is what he put it quote. the least person is one of. the e.u. has long been powerless against tax evasion switzerland austria and luxemburg have always championed bank secrecy the e.u. has taken action requiring increased transparency. if you know.
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what that's. you know. that's what i'm at a few also someone young and objective. will form the well water the good is going to go and garlic welcome the don't disturb the body don't teach to be all failing this she did love an illness joyce on his own for me domicile took on an i don't know it more bottles. on the monitor that mischa all of newmont but it will do is do no good so we're going to cause we mara we're told are going to make it in molly extra nor. will i do it to market if you see the view that he had claimed you don't look at p. diddy's it plant of your own and she said paul's forcing off on it when the other room is a real good on clip ons for cars puppets where there's all to do are to do what you want to keep ability to you know that you don't of well such as you're going to miss a conclusion is it to do so should. today date the economy and finance
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an ever present global reality we are all caught in the debt machine the debt its grip and its dictates have insinuated themselves into our work our relationships and our lives. only time will tell if we can actually afford this must a seventh relationship today. hello again it's good to have you back. well there's our do want to start down here in
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australia we have been dealing with a heat wave across much of the continent well we're going to be seeing some improving conditions with this area of clouds that is begin to push through the bite this is a cold front and that means anything on the western side of the cold front is going to begin to cool off so here you attempt is right now as we go towards friday high of thirty nine degrees expected in adelaide but as we go towards saturday and that front pushes through notice the big change of temperatures as we get some cooler fresher air coming in from the south there appear to towards the east though we're going to seeing city still a warm day for you at thirty four degrees alice springs forty three degrees is going to be your high or here towards the north and south island of new zealand things are looking too bad we are going to see maybe a standard shower to appear towards auckland here on friday but that's really not going to be of much consequence one of the afternoon type there with a temperature of about twenty two degrees down towards christ church fire looks quite nice but by the time we get to saturday it's going to be more clouds and a little windy for you with the temperature warming up to about twenty five degrees
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and then very quickly appear towards japan plenty of snow is going to be in the forecast for much of the country anywhere from sapporo all the way down here towards a sucka with tokyo a mostly cloudy day for you in a temperature of eight. the marshall islands holds a toxic legacy from years of u.s. military nuclear testing. as the sea levels rise one on one east investigates the threats this fallout poser's on al-jazeera hoping for better living standards and more security the people of bangladesh will cost their votes in a general election with special coverage from across the country we'll assess what direction the nation could take. bangladesh elections on outages iraq. for afghans with ties to international organizations. this rate has never been
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greater. left exposed by the withdrawal of foreign troops. exile may be the only path to safety. but alienation makes hole in feel ever farther away . bill part of the viewfinder is a series on al-jazeera. that. was. this is zero. and zero on this is the al jazeera news hour live from london coming up. adele to bear is demoted from the role of saudi foreign minister in
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a political shake up ordered by king solomon. anger in the democratic republic of congo and the decision to exclude opposition areas from voting in sunday's presidential elections. indonesia's volcano alert level is big state of affairs that and that krakatau could erupt again and trigger a second tsunami. we visit the gotta modern town where residents of taking up paint brushes to unify their homes and their community. in sport a champion for ball was hit with another racism control the city. not only senegalese to fun but color dooku the ball is targeted with racist abuse by in samoan funds. in a series of royal decrees saudi arabia's king solomon has announced a major government reshuffle the most notable of all the changes the demotion of
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one of the most high profile faces of the saudi government foreign minister bear this is the kingdom struggles to contain the political fallout following the murder of journalist. charlotte ballasts reports. adel al zubayr a former advisor to the late king abdullah a former ambassador to the united states and now former foreign minister he was only the second saadi to be appointed foreign minister outside the royal family. during the gulf cooperation summit of regional leaders earlier this month again defended the suspected involvement of the saudi crown prince in the murder of. with regards to issuing an arrest warrant we don't extradite our citizens i believe turkey's constitution prohibits the extradition of turkish citizen is dubious demotion follows months of questions controversy in denials about the killing of the saudi journalist and the saudi consulate in istanbul it also follows widespread
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condemnation of the kingdom including the us congressional resolution which said mohammed bin some man was responsible for the killing of his critic. while donald trump repeatedly maintained to support for the crown prince seen as has called for an end to u.s. support for the war in yemen jubail was appointed foreign minister by king some man in twenty fifteen a month after saudi arabia went to war in yemen is strikes were launched with the yang of quickly crippling hooty rebels backed by iran and stage the war has dragged on for almost four years killing at least sixty thousand yemenis millions face starvation and what's called the world's worst humanitarian crisis dubious final months as minister have been marked by turmoil within the g.c.c. including saudi laid air sea and land blockade of qatar for the past eighteen months it's unclear two beers fall from grace in riyadh is a way to make him
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a scapegoat facility policies attracting global condemnation the king is now taking a step back. instead of. who wasn't in the first place the first choice of the king anyway because he was very close to king couple or to think of saudi arabia rather than to king so much so now by having brought him loss of who was an old school he's a veteran he served as a minister of finance for twenty years from one nine hundred ninety six and two thousand and sixteen so now he's having come as a foreign minister in order to give that the message that now we are back to the vision on foreign policy. dubious successor is abraham a former finance minister he was one of the many saudi power brokers arrested in last year's perch his imprisonment in the ritz carlton hotel in riyadh was part of what the crown prince calls his crackdown on corruption now saudi arabia's new foreign minister will inherit not only the controversy that continues to dog his
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captor the crown prince but the human war crisis that has proven difficult to. charlotte ballasts. rather than door on the u.s. reaction to the saudi cabinet reshuffle. the cabinet shakeup in saudi arabia may not do go far enough towards rehabilitating the country's image at least with members of the u.s. congress just before they broke for the holiday session the members in the senate took two key votes they voted to pull the u.s. the support for the saudi military as it continues its military operations in the yemeni civil war and all of the members of the u.s. senate uniformly endorsed a resolution accusing mohammed bin solemn on the saudi crown prince of orchestrating the murder on october second of jamal khashoggi the exile journalist who had gone to the consulate in istanbul to get papers in order to get married
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this is a situation where both republicans and democrats believe that the saudi crown prince who is widely expected to succeed his father king solomon is not running the country in a way that comports with us values respecting human rights allowing political expression endorsing and upholding political liberalization and supporting women's rights they believe that because of evidence that they have now been given a or presented by the cia director gina housefull that there was really no way that mr kushal she could have been murdered without this being orchestrated by the saudi crown prince senators and members of the house of representatives both think that there should be someone else in weight to succeed king solomon they are questioning the u.s. continued close relationship with saudi arabia and they have already indicated that when the new congress convenes in the first week of january twenty ninth teen both
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the senate and the house are going to be taking a very close look at the relationship between the two countries and this is going to be really on the onus of the saudis to prove. the fact are worthy of having close ties with the united states in this case according to congress it doesn't really matter what the us president donald trump thinks about the relationship during this you get to discuss this further is that middle east analyst below thanks for coming in so what's your main interpretation of what's happened with this political riff and what they're trying to do well look i think for me the big takeaway is less of because of his background he was involved i am more with the world bank he has a very good reputation in the western financial community this is important because i think that what moments on mon and king someone want to do is to restore the very damaged credibility that saudi arabia has what's happened is that western business
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has looked askance at what's been going on it's not just the murder of her show she it's also the many. blunders that mom is home on has conducted before the first and most obvious being the terror war ne'eman but we recall it back in november when he rounded up over two hundred senior members of the ruling family and business people these were all people with a very good connections to western business the very people that he actually needs to get western investment coming in so so even at last that is in fact a statement to say look ok we've we've made a mistake here but we we need your investment so the past is the past let's move forward. and he'll be the new foreign minister and do what you think it will have an effect on foreign policy well that's the big question i think it's going to be there's a long road back for saudi arabia because of course there's the whole situation with the senate and congress this really remarkable vote against my own because i'm
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on saying look you are the one responsible for the murder you're not going to get away with this so there's that issue there's also as i said western business is still holding back you have the issue of many wealthy saudis have been getting money out. saudi arabia because of their concerns about the stability of been summoned and so i think there's a long long way to go before there's going to be any any significant improvement and the price of oil is sitting at about fifty dollars a barrel now the saudis need over seventy dollars a barrel he needs a bargain someone needs this foreign investment in order to get his is a remake of a saudi economy and the society society of vision twenty thirty kickstart again it's really stuttering along so it's important for him so you mention in passing that the crackdown of some of the people who actually go to new jobs were people who were arrested in the crackdown against corruption what's the message being sent with that do you think is that is that a kind of that actually the recognition of the crown prince may have overstepped in
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that instance or what is that yeah i think i think that is a part it's a reprimand in a way that he had gone too far and this is this again is that was a rowing back and if you look at people like it dramatic stuff and others who were arrested i mean he got away he went up not being charged but yeah it's clearly a statement that this was a mistake and we don't want it to happen again and there's a sense of we want to safe pair of hands here he is sixty nine years old he's not thirty three as it's being in some honest being billed as kings island we shuffle but in the end how does it affect the power of mohammed when someone is he still is powerful as he was in spite of all this these chess being into i think i think that his power is damaged i think this is this is an attempt to give him some breathing space to recover some of his lost prestige if you will i think the jury's still out about whether or not this is going to work because the key for me is are you going
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to get foreign investment coming into saudi arabia to support the vision twenty thirty which is his flagship program if that doesn't work then he remains in a very difficult place and thank you very much indeed bill always good to your nicest thank you. now the united arab emirates has reopened its embassy in the syrian capital damascus after being closed for nearly seven years. the flag was raised again during a ceremony attended by diplomats and journalists the u.a.e. broke ties with syria in for every twenty twelve and it was one of several regional states which was backing groups fighting government forces. and jews it has received its first direct syrian airways flight from damascus international airport is the first time in eight years that there's been a direct flight between two countries after a full of president. diplomatic relations with a syrian government that the plane is thought to been carrying around one hundred fifty syrian tourists who will come to the airport with crowds waving the syrian
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flag. but in most of the head in the news hour including. what donald trump is being criticized over that unannounced visit to u.s. troops in iraq. reciprocal move the palestinian authority says it will back all imports of israeli vegetables fruit and poultry. and in sports roger federer lands his first big prize of the new tennis season. the president of the democratic public of congo joseph kabila has told that recent election violence is just politics but tensions are running high across the country ahead of sunday's presidential vote receive used live ammunition and to gas on protesters after a decision to delay some voting in opposition strongholds until march malcolm webb has more from control.


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