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tv   Journal  PBS  December 9, 2011 6:00pm-6:30pm PST

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>> hello and welcome to the "journal" on dw-tv. i am meggin lee. eu member states agree to pursue a bigger -- greater fiscal union, the british opt out. a hospital fire in the city of calcutta. the deadline change for the climate treaty draws near. most bets are for no deal. eu leaders have agreed to a plan to save the euro and end the debt crisis in europe, but it
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comes at a price, that is the isolation of britain. all members of the eu, except the u.k., are open to the new treaty. british prime minister david cameron said it was on in the interest of his people. despite this, german and french leaders -- said it was not in the interest of his people. despite this, german and french leaders said they were satisfied with the outcome of the summit. >> he was the first to leave the summit, without leaving a word -- saying a word to the reporters. it had been a long night and a long day. the meetings have left britain isolated, outside the deal in that reenforcing budget discipline. all other 26 member states have signaled willingness to sign up to the agreement, which foresees changes to eu treaties and closer economic integration. >> record and said very clearly that, if treaties were to be changed -- great britain said
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very clearly that, if treaties were to be changed, they wanted their own changes as well. we could not accept those conditions. other countries have not done that. in that sense, there was a difference. >> london rejected tighter rules on the financial markets, fearing their impact on the london stock exchange. call the rest of the you ceremoniously welcomed croatia as -- while the rest of the eu ceremonies we welcomed croatia as its newest member, britain seemed to be sidelined. the eu institutions are currently bound only by the lisbon treaty. e leaders remain optimistic. >> i used the word, the beginning of the end of the crisis. we have strengthen the credibility of our future economic policy. >> but it will be the markets that make the final judgment on
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this latest plan. it is the eighth rescue deal footboard by eu -- put forward by eu leaders this year alone. >> i asked our correspondent in brussels what it would mean for britain to not be in the room anymore when a big financial decisions are made. >> it basically means that britain, which is a little bit sidelined, is totally sidelined. it is a catastrophic mistake in strategy by david cameron. i think everyone accepts that. he gambled on being able to convince germany and france to give him concessions under a new changed treaty, so that britain would not suffer any extra economic finance regulations imposed by brussels. it did not work. chancellor kohl and -- chancellor merkel and president sarkozy did not blink, as it were. he is stouck. everyone has the greatest -- has
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to create this new architecture. there is a new fiscal code book, if you like, and britain is actually on its loan. it is a disastrous choice. -- on its own. it is a bizarre situation. i do not know if britain can claw its way back from this. this is a bit of a fisher -- fissure opening up in the european union. it changes things drastically. it is not what this was about. it was about bailouts for indebted countries to reinsure markets -- reassure markets. >> is this the beginning of the end of the bureau -- euro debt crisis? >> you cannot expect a big bang solution. we know now that will not happen. we have had eight summits like this already this year. this is incremental.
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this is a piece of the jigsaw. chancellor kohl has said she hopes the market than other people are noticing that -- chancellor kmerkel has said that she hopes the market and other people are noticing that it is coming together. markets will decide on monday how important this was. it is hard to know. it seems to have been more an internal wrangle about the treaty than an effort to save the euro, really. >> is the last -- is it allows emergency summit we will c4 while? -- is it the last emergency summit we will see for a while? >> i do not think so. there is a lot to sort out, not least the new architecture they have created today are done virtually nothing. >> we will be keeping up-to-date with you on these developments. thank you very much. going into the summit, the german chancellor angela merkel
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was under a lot of pressure, both at home and abroad, for her handling of the euro crisis. in our next report, we take every -- a look at her performance and how it was viewed this time in germany. angela merkel is not even back in the chancellery at, -- yet, but her coalition partners are talking about it already. >> this path to stability union is irreversible. it will strengthen the trust of the people and the markets in our common currency, the euro. >> but the opposition is more critical. social democrat leaders -- the social democrat leader says what your needs is a clear senate -- clear signal from member states -- what the euro needs is a clear signal from member states. instead of finally correcting the mistakes made when the eu was founded, many the lack of a joint economic and fiscal
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policy, the chancellor has instituted budgetary consolidation and limits on that. it is not enough -- limits on debt, which is not enough. >> merkel's position in germany will only be strengthened if the debt crisis shows signs of easing. >> what have the leaders agreed to? >> it is a chance for a new beginning. we will see. a white house spokesman referred to this as moving -- as a sign of progress, but said that more needs to be done. the deal is being referred to as "a fiscal union." it is controversial because it would exist outside of the treaties which bind the european union members and include new responsibilities for members >> the european union is made up of 27 member nations -- for members. >> the european union is made up of 27 member nations. those who share the currency are
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called the eurozone. they would be joined by nine others to form that this union. participating countries will be bound to adopt that as it rolls in their constitutions, limiting their overall debt levels -- to adopt the deficit rules in their constitutions, limiting their overall debt levels. the country's budget -- countries' budgets would be subjected to oversight. the eu leaders are discussing more immediate measures to manage the debt crisis affecting several member states. they include moving implementation of the permanent bailout rescue funds forward to july 2012 -- july, 2012, one year earlier than originally planned. private creditors will not be forced to take losses if a country goes bankrupt. the imf will help bolster the eurozone's firewall with a 200 billion euro loan.
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the hope is that these measures will be enough to restore faith among investors around the world. >> our correspondents as the news was greeted positively by traders on the floor -- our correspondent said the news was greeted positively by traders on the floor. >> a greater involvement of the international monetary fund. the fact that the private sector will not get very involved, in case another eurozone state budget passed be bailed out. the increase of the german stock index also had other reasons. china is expected to loosen its monetary policy again. china is expected to invest some of its huge currency holdings into european assets. >> the week has ended with big gains for markets across europe. the dax set a good example, finishing up by almost 2%. eurozone -- the euro stocks
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blue-chip index gained some weight. the dow industrials are up by about 1.5%. the euro is trading for $1.3370. the head of the u.s. tax agency has been -- the head of a tax agency has been wounded by an anarchist bomb. they said the bomb to the head of deutsche bank -- they sent a bomb to the head of deutsche bank and warned of two more bombs. >> thanks for that. the interior ministers of germany's 16 federal states are launching a new attempt to ban the far right npd party. this comes as reports that the neo-nazi group is accused of carrying out 10 murders -- this comes as reports of the neo-nazi group, accused of carrying out and murders, it i-- 10 murders -
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>> the spd led some of their concerts -- accused some of their colleagues of blocking the ban. all 16 states agreed to efforts to block the far-right party. >> until now, it was thought that we would be unsuccessful. we hope the latest information and assessments will be enough to achieve our goal. >> that new intermission include revelations about this man, a former npd functionary, now accused in involvement in a series of murders. it is a legend that the group has but or contact with extremists -- alleged that the group has much more contact with extremist than previously thought -- extremists than previously thought.
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>> we will have to see to what extent we can cut length with informants inside the group to ensure that we do not have any contaminated material. >> in other words, evidence that would not stand up in court. the interior ministers know they cannot afford to make any mistakes on this closely-watched issue. >> human rights activists in syria say at least 15 people have been killed by security forces at anti-government demonstrations after friday prayers. deaths were reported from dara, douma, and homs, where security forces opened fire on demonstrators. regime forces and militiamen had encircled the city of homs. violence comes a day after a major oil pipeline serving the hom's area was blown up. at least 89 people have died in a fire that broke out in a
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hospital in the eastern indian city of calcutta. most of the victims were patients who were trapped by the flames and inhaled smoke. >> there were dramatic scenes at the hospital. rescue workers struggled to reach the upper floors to save patients trapped in an orthopedic ward. for many, help came too late. this man says, "there are no lights in the building. the doors are closed. everything is full of smoke." officials said the death toll could rise. the fire was the second in three years at the hospital. angry relatives blamed emergency services, saying they arrived too late and were poorly equipped. the police defended the rescue effort. >> the police, the rescue authorities arrived immediately on the scene, he says. it is still not clear what started the fire in the hospital's basement.
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authorities have promised a full investigation. >> the u.n. climate change conference in durban, south africa, is set to go into overtime as delegates scramble to reach some sort of agreement on tackling global warming. the eu and many developing countries want a road map that would eventually lead to an accord binding all nations to reduce greenhouse gas emissions. china, the u.s., and india, the world's biggest polluters, reject the time line towards an agreement on global warming. activist accused of the countries of dragging their feet and are urging delegates -- activists accuse the wealthy countries of dragging their feet and are urging the delegates to take decisive action. i asked our correspondent what chance there is that the delegates will get over their main sticking points. >> there is still a chance. the package on the negotiating table is clear-cut. the eu is prepared to continue with the protocol -- the kyoto protocol beyond 2012.
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even the entire reduction targets, but only if other big e mentors that are not bound by the kyoto protocol as of right now -- emitters that are not bound by the kyoto protocol as of right now also agreed to reduce their emissions, not immediately, but within a reasonable time frame and ia legally-binding manner. has made it quite clear eyou a aico. the well, throu wh
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ea odengr s eupeanar in 1982, it became the european union. leaders sne a treaty authorizing the introduction of a commt. years later, euro coins and
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bisenin circulation in 12 countries, the eurozone. it became more cumbersome -- as th eucontinued to expand, it became more cumbersome. it allowed some decisions be made by mory, included requiring met -- requiring support. voters in fnce and the netherlands rejected the first official draft version.a wateres adopted in 2007, the treaty of sb. >> this treaty is for the future to make european development more efficient and more mod >> despite the reforms, the conflictingatnainres of member states remained an issue. europeancoin t hard over every decision. >> that has cin been the case regarding the eurondts
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ture. eu leaderseed come up with a concrete plan to restore confidence in them bc a -- the bloc and calm investors' fears. they are hinth he colied that with this plan to implement stricter budget rules and punishment for those wh fail. britain has rus t galg. >> the leaders may look to be unedorheameras bendhescenes, there are deep divisions over the continent's future. one of the major players is going its own way aerefin to go along with a closer as a union. british prime minister david cameron faedoonncis partners that london deserve the not-out -- deserved an opt- out. he said the planned financial tax would hurt london's ta
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bain industry. >> i said before cino brussels that if i could not get adequate safeguards for britain in n european treaty, that i would not agree to it. atsn fes not in britain's interest, so i did not agreto i let me explain why this matter is. of crs w want -- this matters. of course, we want the eurozone countries to come to gather and solve their pbls, b we should only happen -- allow that to happen inside the treaties if there are proper protection for the single market and other key british interests. >> other eu members were wiinto make special exceptions for britain. the financial-services sector. frch president nicolas sarkozy said that the demands were unacceptable. the german chancellor said that, "if the british were not wli tooehe line, the you will move forward without them." -- the euwill move forward
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without them." >> people will see that we have learned from our mistakes. credibility ithtoprri. european institutions, like the commission and the european court, will be given more influence and have more leverage to ensure that nabors states -- member states get their financing in order. >> the eu parliament president said the deal underscored the you determination to tackle the debt crisis -0-u determination to tackle the debt crisis. >> we have results from a very good, 26 vs. 1. are uniting the european union. >> david pearman seems to have isolated britain within europ -- david cameron seems to have isolated britain within europe. investors will be watching to seifhi sea. >> for more analysis on the outcome in brussels, i am joined in the studio by our political
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correspondent. thk y f joining me. we know that chancellor angela merkel had a lot riding on this. do you think she got what she wanted? >>t victory at a high price. she gained, of course, an agreement to her plan from 26 membertas, but at the cost of excluding britain. there is a second point. th i oy a framework for fiscal union. i'd think it is very likely tha w'llee some tough negotiating as member states fight for their national interests. thirdly, this treaty that has been talked about has been questioned already by european lawyers, who think that it may not be legal. in thatas o course, it could lead, in the most dramatic scenario, to the european union being dissolved in its present form and being reconstituted
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around britain. >> that sounds extremely radical. i do not think we're quite there. it seems as if there was an appeal to germany's constitutional court. will that happenga? >> it is possible. the constitutional court has come in each of those cases, all the strength in hand of the rm plien-- the constitutional court has come in each of those cases, put all the strengthen the hand of the rman parliament. on the other hand, chancellor merkel does have a mandate from the german parliament' with broad, cross-rty support for her plan. the main criticism is that it does not go far enough. basically, there is support for her. >> thereas been some mixed reaction towards the chancellor angela merkel. how will this affect her political future?
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buif the posive economic data that is currently -- >> if the positive economic data that is currently coming out firms up and we see something like sustainable, economic recovery in southern europe, the reduction of the sovereign-debt crisis, then, of course, merkel will be credited with having resolved the eurozone debt crisis. that will give her enormous prestige. i think we will probably strengthen her chances of being reelected chancellor in 2013. >> will more european countries have to become more german in their policy? >> it will certainly have to become more frugal. they were not always the most frugal. certainly, germany has a stronger voice. >> thank you very much for your insights. with that, we wrap up the journal " -- "journal."
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i am meggin lee. thank you for joining us. stay tuned.
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