tv Business - News Deutsche Welle August 20, 2018 7:15pm-7:27pm CEST
preparing for a tournament in melbourne and there are plans afoot to establish a league for local schools. this year sees e-sports featured as an exhibition event in the asian games currently underway here in jakarta with the next generation of competitors training hard in the city it's the perfect time for them to be here now . up next with the business that lies at the top of the hour. there's no. managers. the banks. and the language of the bank. speaking the truth global news that matters g.w. made for mines quadriga international talk show its military muscle to is weak in german politics than europe resolved bitter divisions over migration to the government it is said stead into the abyss could friendly fire from president trump
to defeat one of the strongest military alliances in history point out all my guests have to say on quadriga. margarita on d w. i knew we were of a greece that's how the government sells today's bailout exit but eight years of austerity hurts and it's not over yet. and when inflation goes into hyperspeed just knock a few zeros off the currency that's the venezuelan solution. i've been fizzling but still business greece's bailouts are over but there's a lot of money to pay back and the austerity continues taxes squeezing the great
many of them have never paid anything and unemployment remains stubbornly high. finally no more aid packages and no more funding requirements but the last eight years have been tough for greece and brought drastic cost cutting measures many greeks lost their jobs and their homes income is fallen by a third on average the taxes however remained high for most people it will be a long time before the situation improves and some people don't even believe it's possible like this silversmith but i still think i am personally for me in the coming years i don't see any hope everything looks bleak to me. because he sees the middle of the greek crisis brought down me and thousands of people in my position women weren't interested in buying our clothes anymore and as a result my manufacturing company closed we started this combined cafeteria and many market he hopes he'll soon gain a foothold again many people in greece are trying to fight their way through. it
because like i pin my hopes on something better even if we've left the bailout program i believe me greeks will be paying for years to come but we all hope for something better hope dies last and the government knows there's still plenty to do even with all the loans paid off but as the going to get more needs to be done starting with the tax system which isn't business friendly right now the justice system must deliver decisions faster that will have a direct influence on attracting investments on the whole thing should become more european the state should provide key services greece still has a huge mountain of debt to the tune of three hundred fifty billion euros they'll be dealing with that for a long time to come. european commission for economic affairs pm muscovy says greece's reforms laid the foundations for a sustainable recovery you know he's brussels bureau chief caught up with him.
commissioner now the commission says this is a new chapter for greece but it seems like for regular people in greece it's more of the same high unemployment high taxes bad pensions would you agree no i don't i think that we are really opening a new chapter to this situation greece has already improved a lot including unemployment which has diminished from twenty seven percent to less than twenty percent i know that these still high it's much too high but i think that now the. structures that we have built in greece make this country capable to recover attractiveness to attract investors to be competitive and to create a lot of jobs and that's what i expect that the now the people in greece will really see that the efforts to have been taking bear fruit let's not be mistaken it's not because there was austerity that there is a crisis in greece it's because there has been terrible crises that we need to have a more solid structures for economy and society in greece but you've hinted in the
past that maybe there was too much austerity is that the biggest mistake that the e.u. made something that should not be repeated let's say for italy i think that what the biggest mistake is what we underestimated the depth of the crisis we thought that the you wards were solid and they were really very fragile and yes at some moments we were tough on austerity when you finally i think found the right balance . well let let let let's say that if we could have balance better or sunny very t. an effort but well all in all i'm convinced that we made the right decisions and that was the right track for greece to reform and for us to agree through a program which represents still two hundred and seventy three billion euros which proves that we weare alongside the greek people and some people say italy is going to be the next release. they have
a huge mountain of debt do you feel like the new italian government is up to the task to prevent anything like happen in greece from happening in italy the situation is of course very different to the founding member of europe it's also there in the eurozone from the start that doesn't make them immune to all the problems it's just third largest country in the eurozone and the sort of largest g.d.p. . it's a very creative economy and the debt is in the pocket of the italian people for quite a lot but still we need to be very careful about the level of public debt one hundred thirty percent this has to be here really money to control and this is why we need twelve still sound public finances need to lead and we'll have to discuss with the italian government in the european semester the draft dodger to plan by october in a very serious way and i'm ready to do that that's a huge date coming up there but again let me repeat the question do you think that
the current italian government is up to the task of preventing a catastrophe from happening in italy like in greece i know that. or are you telling governments they finally will find the way they will miles of through and the fact will be in the budget i cannot judge on programs i don't want to judge on words i want to judge on. the facts they can facts to give some gallants or comment on the bailout a success they allowed a six seventy twenty it doesn't sound like there's going to cuts and so if you want all these plant all these bands turning to turning to. that money with that date. i think action extort but economists are when a practical payment it's a good thing if there's a lot of rules and the currency is that that as you heard when you also see is here
completely exposed. each time we're on line we need behind traces which say loss about our lives. and i was plenty to advertise this is there any escape. tomorrow to the next. germany state by state. the most colorful. a lot. of the most traditional. minded all the time. check in with a web special. take a tour of germany state by state on d w dot com.
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