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tv   Business  Deutsche Welle  June 14, 2019 10:30am-10:46am CEST

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really the history of. those who know about secret things have a house like this. those are the key to actually reading. music and. russian cultural heritage foundation. links treasure trove our to push. starts june 21st on d w. will the eurozone finally get a real budget germany has always been opposed to the use finance ministers now say yes at least in principle many questions remain unanswered most importantly who will pay how much. also on the busy show bitcoin is back after crushing
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spectacularly last year the virtual currency has surged to dizzying heights once again it is now safe to. give business i'm in berlin even finance ministers have created the outlines of a euro zone budgets and what they say is a breakthrough by creating an operational budget the ministers hope to help member states that have the euro as their currency to move together economically and become more competitive the big question though how large will the actual budget be and crucially where will the money come from and exact some is yet to be determined the agreement is a watered down version of from french president the man will mark hall's vision for europe who has called for a multi-billion e.u. budget almost 2 years ago but have been met with strong opposition a long way. now a lot that's your correspondent barbara visible from luxembourg and our financial
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correspondent on the boss in frankfurt barbara let's start with you there's been a talk about this budget for years is that now finally it. so there is some sort of budget but it is maybe even below a compromise ministers this morning in their 1st press conference couldn't even agree if their glasses warehouse full or if they just were just a few drops of water in them because there is going to be what they call a budgetary instrument but it is more or less an empty vessel because the main points of contention where will go and how will the money be raised that is supposed to fill this vessel and who is going to control it and what is it for these main points of contention haven't been so ministers said at the table last night for 12 hours and in the end they emerged pale and didn't really have anything concrete to offer to the waiting press so this means now it is hardly a face saving compromise for president mike wrong there has been
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a tiny bit of movement by did nothing really yet that would push the eurozone fall it's. only coming to a barber just called an empty vessel i don't suppose there's been a huge reaction on the markets. you know that's not an issue for the people in the market here of course the people are registering at and are following that but they see it as a long term project and nowhere near completion as barbara has also just confirmed from luxembourg but people are of course looking at financial policy and monetary policy in the eurozone is key to what is happening here in the markets and there most people are quite glad that there's someone who's in the driving seat in the captain seat and that's mario draghi of the european central bank it's a controversial role but the c.d.s. done is controversial but even critics would agree that it helped stabilize the eurozone and is let's say these single functioning financial policy making policy
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decision maker in the euro zone people are glad about. in that respect they're more eager to learn what is going to be the successor to mario draghi when he leaves the office and october. above all come back to germany was against the budget for a long time now has given up resistance why it's it all turned politically from berlin and of course there are several aspects to it one is that merkel felt that she had to give something to president they can't just sit there and say no new and new to everything he comes up with also there was a realisation that of course not enough was done after the last big euro zone crisis after the financial crisis in 2008. in the reforms in the euro zone is moving was the pace of this nail on the value so what could you do in that situation at least they want to appear as move to move forwards and that is really
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behind this change in attitude and this whole fight last night in luxembourg was based on a french german paper and the 2 finance ministers and now going to appear together and try to defend me get results barbara in luxembourg and only in frankfurt thank you. and now to some of the other business stories making headlines this morning all prices have risen further on friday continuing thursday's trend brant crude saw a temporary increase of nearly one percent but has flattened it since the days of peak oil prices have surged by as much as 4 percent thursday following an alleged attack on 2 oil tankers in the strategically important strait of hormuz. german chemicals make a bio will invest billions to develop an alternative to glad to say the key ingredient in its controversial we kill around up over the next 10 years the company wants to create a more sustainable product by a has been seeded it needs to make changes but insists life that is harmless if
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used correctly. remember bit coins in its search to dizzying heights of around 20000 dollars last year only to crash spectacularly at the end many investors got burned and turned away for good but cryptocurrency is had a remarkable start to the year the original and most valuable among them is bitcoin more than doubled in the may surging to preach the $8000.00 mark leading analysts to wonder if it could eventually hit $10000.00 soon although it's leveled off somewhat since then at the 1st as the 1st and most widely used crypto currency bitcoin has become the standard for digital currencies its so-called blocked chain technology that is decentralized peer to peer network has become the backbone of a host of other cryptocurrency is such as light coin theory and zack cash and dash many experts say block share based currencies and other financial products are the
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future some say they could even make banks completely obsolete or small some major corporate players have said they're interested in introducing their own currencies facebook is expected to launch one soon and u.s. bank j.p. morgan has come up with something called j.p.n. coin. process of the products already on the market there's no doubt that bitcoin is leading the way with its increasingly being used in the same breath as more traditional currencies if you watch all ticket here on the screen you see you see bitcoin a moment of the other currencies like the dollar and the euro for some time now so where to go with bitcoin is a just a toy for adrenaline junkie trade us as here is disruptive to the way we do business let's bring in someone who knows a thing or 2 about bitcoin. she's the head of strategy development at casa crypto security company and i welcome to d.w.
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1st of all very briefly what does cause i do that provides security services and advisory software and hardware a complete package for people who wish to invest in bitcoin and feel secure ok bitcoin why is it so takes is it taking so long for bitcoin to to get a stop list i don't think it takes a long it's only been 10 years and we have roughly well that's of office nation about a 100000000 users our own there's at least. and when you compare these clinton early internet or early computers right in the sixty's who had computers i.b.m. and they filled entire rooms and then in the early eighty's how many of our friends had computers so it tooky you know at least 30 years for the technology to get adopted and i think compared to that big clean is doing much much better much faster but when will it ever be mainstream when one bullet safe ordinary investors
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oh well ordinary investors need to know that they only invest the amount of money that they can afford to lose or that they don't need immediately right whenever you invest you take a certain bet a certain risk and that comes with the yield. although clean is volatile it's a gray. or to 90 because no other assets. but it has to be a risk investors want to be able to manage their risk and this is a more difficult with a big con then with them and other and you combine your investment portfolio you don't put so all the your eggs into one nest right so you take a person to each think is fair and want to bet on the different strategies but how can you predict where bitcoin is going to go i mean if you look at for example the oil price what's going on in the strait of hormuz at the moment has an influence on the old presidents very easy to understand what influence is bitcoin scarcity so
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there is there's only ever going to be 21000000 coin in the circulation which makes it way more stars than gold and way better than any other government issued currency if you compare it to currency and it doesn't suffer the inflation that all the other. money suffers. you're going for crypto security for bitcoin is often associated with criminals with money laundering with fraud with buying drugs. why is because so interesting for these shady circles i don't think it is. i think. it is not autonomy. which means and it's very open and quite traceable now so until we have privacy by default implement in the between system it's pretty fairly traceable so criminal groups are more likely to use the banking system such as you
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know the downstream bank recently longer one off is that longer $230000000000.00 so that's a much larger trees and that's why the key y.c. and mail measures are in place for the banking and are not so much. for debates going to space very briefly where will big congo how how far will it go. this guy still inmates people said $400000.00 that was one of the predictions one of the one of the most conservative was $80000.00. you know i'm terrible at for the thing i thought because it will be 2000 last year in the way way higher so please don't ask me there's people who are. estimates $100000.00 mark by next year because of the whole thing that's that's coming. from i thank you very much for coming to the studio thank you as well. switzerland is bracing for
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a massive strike on friday as women that plan to walk out of the month equal pay for female and male workers protest events are scheduled across the country as unions plan to strive for mandatory wage comparisons between with women and men sholto waiting working hours to make time for childcare on average swiss women 18 percent less than men according to most recent official statistics some companies and public authorities are supporting the movement giving women time off to say policy in the protests. and that's it for me and the business team a burly man for more news on background stories check out the davido call slash business stay tune to us and culture is next right after this quick look at global markets.
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her 1st day of school in the jungle. first listen. then doris green the moment arrives. join the ranks. tang on her journey back to freedom. in our interactive documentary. to bring
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a tame returns home on t w dot com bring it tangs. what secrets lie behind the small. find him and most of experience and explore pass an aging boomers cultural heritage science. d w world heritage 360 get down. hi there and welcome to news from arts and culture and we'll start off with a look at what's up for grabs at the art basel the world's premier art fair on until sunday in switzerland and also coming up.
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is a virtue also a violinist from germany who's equally at home with classical or jazz and that is thanks to team roots. and see trekking is a way to explore the world's wildest coastlines and feel quite literally at one with the elements. is only a handful of living artists whose works command tens of millions of euros jeff koons is one of them and if you have that kind of couse you can actually buy one of his pieces at the art basel and what's the world's premier art fair that just opened its doors on thursday where 290 galleries from 34 countries are peddling their wares and sales from last year tell us that the global art market is booming so for serious collectors it's the place to be. come to art basel with a suitcase full of cash.


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