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tv   Business - News  Deutsche Welle  August 21, 2018 3:02am-3:15am CEST

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and then israel is creates a new battle hyperinflation which could reach one million this year now the government's lot five zero of its fast appreciating current. and a new era for greece that's how the government is selling its bailout exit in eight years of austerity hurts and it's not over yet. this is your business update on how at home free in berlin good to have you with us the venezuelan government's radical new plan to combat spiraling hyperinflation has left businesses and consumers confused and anxious caracas is issuing new bank notes off to slashing five zeroes off the been a good ball of our brochures like these explain how the new system is supposed to work but uncertainty over how goods will be priced is pushed many very venezuelans to stock up ahead of time the government also announced a massive minimum wage hike unlikely to be affordable for many businesses already
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struggling. a drastic policy change is a likely to wason venezuela's economic problems. this cafe in the venezuelan capital caracas doesn't accept cash neither does this bar what they do take is cryptocurrency as it's a response to the country's out of control inflation which has left ordinary venezuelans in a desperate situation a lot of it in there with a lot of money with that cash venezuelans can either emigres or they can look for alternatives one of these alternatives is using cryptic currencies with a look at the money entrepreneurs like mario. believe daily life in venezuela can only continue if people are offered a range of payment options at a kiosk customers can use dash and as well as most popular cryptocurrency to pay for their coffee and snacks. the rise of crypto currency has not escaped the attention of venezuela's government as part of its plan to tackle the country's
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economic crisis it's launched a new currency it will be tied to the petro a crypto currency that's been banned by the united states the petro is valued at around sixty dollars roughly equivalent to a barrel of oil but some digital currency experts like robert appear skeptical. just like every other crypto currency depends on people's confidence and it if people don't trust their currency it's not much use to them because nobody will accept it. one reason that dash has taken off in venezuela is that it enables transactions to be completed quickly with inflation rising at an extraordinary rate an increasing number of companies in the country have embraced the digital currency but economists are warning that crypto currency is won't put the brakes on hyper inflation and say they offer no more than a practical payment option there on signing him on the can we have nothing no these days christa currencies are widespread and it's a good thing if there's
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a government body specialized in them and the public authorities need to work with society to stop this law its rules and guidelines that will benefit the economy we need to take a proactive approach to create a currency is that us ahead when we also see is a lack of the money. analysts believe venezuela's inflation rate could hit one million percent by the end of the year action is therefore desperately needed but as long as the petro isn't accepted on international markets the prospects of a new currency tied to it don't appear to mosey either. shows an electric car make a test or fell sharply early in the session following reports that the major backa seeking the company private was pulling out the saudi arabian sovereign wealth fund the chief executive you know last has said it could help fund a privatization deal is now in talks to invest in rival lucent notice she has rebounded later on monday but a still down more than twenty percent since musk tweeted his plans two weeks ago
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saying he has secured funding u.s. securities regulators reportedly probing the veracity of that and other claims last time check in with our financial correspondent sophie szymanski she's on wall street for us sophie seems like investors have lost faith in the latest. all these have been too tough we've the plan was to make everything is their protest such a take away the pressure of being a publicly listed company judged by quarterly earnings short term profits numbers improvements in the performance as an automaker while for a month it is more about the future and about changing it it's about the vision the expensive fortune and so it's not easy to find investors who stick with you while your company is still not making any profits at all so now you want to into all private but people start to believe that he doesn't have the money to do that the saudi arabian front seems to be looking into
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a competitor as we just heard and then investors are also on top of that concern for mark felt he tweeted something as late at night this weekend and the board seems to be thinking of a number two to help him out and then huffington post for honorary and i have friends who tweeted he should get some sleep and mark replied very passive aggressively. so you see a note of the news we're hearing that pepsi eight is set to take over soda stream i mean i hate to sound harsh allness one but why many people sort of thought a soda stream was rather outdated company these days. yeah i thought the same thing had been out at pepsi co as two major reasons for this takeover first of all consumers don't want to drink sugary beverages and anymore not as much as they used to and they want to live healthier so soda stream with a soda stream they can basically extend their portfolio buy
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a drink with less sugar and then the second reason is less plastic so pepsico wants to limit the use of plastic bottles yet this sort of thing bottles can be reused right to get some sleep and don't want to drink sugary drinks all lessons from safety szymanski this evening thank you so. lights at the end of a long tunnel for greece as it emerges from the last of its three bailout programs that means that athens is no longer dependent on aid from the european union european central bank and the international monetary fund the loans amounted to two hundred sixty billion euro. finally no more aid packages and no funding requirements but the last eight years have been tough for greece and brought stress to cost cutting measures many greeks lost their jobs and their homes on average income has fallen by a third but taxes remain high and now for most people it will be a long time before the situation improves and some are very skeptical about the future like this silversmith because of the god given the personally for me in the
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coming years i don't see any hope everything looks bleak to me. the middle of the crisis brought me and thousands of people in my position to a low point in business my company closed but in a dignified way without owing money to the state or pension funds and we could open in this cafeteria and many market. he hopes he'll soon go in a foothold again a lot of people try to fight their way through like that. got to go you can see my hopes on something better even if we leave the bailout program i believe measures have been taken and we greeks will be paying for years to come but we all hope for something better. there's cautious optimism at the european commission in brussels . greece's transformative reforms have laid the foundations for a sustainable recovery putting in place the fundamental conditions need for
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sustained growth for drug creation and for sound public finances indeed used to come. but a mountain of debt remains three hundred fifty billion euros and unemployment is still high although for the first time in years it's dropped below twenty percent it's still the highest in europe. well much strategy gregg's it greece exiting the euro zone was a voted in while greece will now stand again on its feet financially speaking he still faces a major hurdles before it its economy can be called healthy he is of austerity have left their mark especially on the greek health sector a pharmacy in a typical athens neighborhood most of those who live here belong to the middle class costas antonopoulos has known many of his customers for years. it used to be rare that someone had a problem paying but that's changed with cuts to pension benefits and the rise in
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drug co-pays things have gotten tighter for more customers if you've got money then we have to have money. or in my head they didn't know what they think they were there. i feel like giving you good medicine maybe you come by with money with of them don't come to her with the money. three kilometers away on land that once belonged to an airport is the headline a con clinic people can come here when they don't have enough money for their medicine when the clinic was founded in two thousand and eleven it was intended to help the thousands who had lost their health insurance when they lost their jobs but today it sees more pensioners and the chronically ill this man has diabetes. but even then if. i get die again as usual i don't have enough money to live and now i need very specific drugs automatic but i can't pay for that no no no an
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examination room is available for the most important cases now in august it's filled with medicines to be distributed donations right here daily from across europe. from cancer medicine to baby food. everything needs to be sorted and labeled more than one hundred doctors pharmacists psychologist and twice as many other volunteers keep the doors open unpaid giorgos fee just blame spending cuts above all for the desolate situation but also insufficient government planning. all these years we still don't have a map for health care we have to know what will be needed where and how we can ensure medical services only then can the health system guarded on the right path and says this was the moves. the clinic was supposed to close in june but following international protests it will stay open and everyone will still be needed.
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that's what you are say with the latest from the wild of business thanks for your company and.
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