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tv   Journal  PBS  January 22, 2015 6:00pm-6:31pm PST

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>> welcome to the journal coming to you live from dw here in berlin. i'm brian thomas. wax on monika jones. here are our top stories. the euro gambit. it the european central bank announces a controversial asset purchasing program as a last effort to stimulate the economy. >> 13 civilians are killed in eastern ukraine. hours after peace talks in berlin fall -- call for a cease-fire. >> a new film reopens an ugly chapter of antiforeigner violence. germany struggles with growing anti-immigration sentiment. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit]
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>> welcome to the program. in the face of europe's record low interest rates and deflation, european central bank has pulled out its biggest weapon. >> it comes from harsh criticism from germany. mario draghi says it will buy up to 60 billion euros worth of date bonds a month. >> this policy known as quantitative easing has already been tried in the u.s. and japan and eurozone policymakers remain highly skeptical. >> people were out doing their shopping. it's a great time to buy things in germany. prices are cheap and inflation is almost nonexistent. but the banks president mario draghi says this is dangerous. he says there is danger of
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deflation in the eurozone. his remedy is massive purchase of bonds. >> it maintains control over the design features of the program. the ecb will coordinate the purchases, thereby guarding the single nest of the euro systems monetary policy. >> the bank will buy 60 billion euros worth of bonds every month until september of 2016. that is more than he suggested. >> he has been preparing for this day. now he has followed through. he has shown he has prepared to take action despite the warnings and skepticism from some quarters. >> many of the governing council see it as their duty to stimulate the eurozone economy. >> what they can do is create a basis for growth. but for growth to pick up you
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need investment. for investment, you need confidence. and for confidence, you need structural reforms. >> it was not a unanimous decision. germany has opposed as quantitative easing because it could reduce the pressure on states to reform their economy. he agrees it would be a big mistake. >> this is being called -- it failed in japan and had mixed results in the u.s.. if it in europe? >> facing problems getting their budget in line. these countries now know that
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when they put out bonds someone will buy them and it's a secure way to get money and an easy way to get money. it's one of the big dangers being voiced in this whole debate. with this bond buying program, the pressure on those countries of getting their budgets in line actually decreases. if you look at the economic impact, there will be corporations. it is likely to go further down with the bond buying program which will make european made products cheaper in the world. >> germany was fiercely opposed. >> the members that sit in the 25, they fiercely oppose this program.
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it is a democratic decision. they had a large majority. we can assume that the german numbers -- members were still opposing it. >> who is on the line. who pays? >> it is a good and interesting question. it can be seen as a concession. >> 20% of the losses will be distributed among other euro zone countries. but let's face it. if a eurozone country goes bust, the overall economic all-out
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would be much bigger than those 20%. >> the moral hazard has been limited. thanks for breaking that down for us. >> european markets surged, expecting much of the new cash to be flowing into equities. the euro, as we just heard, moved south. and we hear more about how the news went down in frankfurt. >> mario draghi did it again. he surprised the market. it is larger than expected and can be extended in the worst case. when the news was out, tension fell and after markets rallied. they do also note that it might be a flash in the pan. it fell like a stone and affect that the ecb also intended. >> here is a quick look at the
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numbers for you now. the dax ended the day up 1.32%. the eurozone even higher gaining 1.66%. the dow jones industrial also well in positive territory up almost 1% right now. and the euro falling like a stone, currently trading for one dollar 30 -- $1.1377. >> a big announcement on the mind of the german chancellor, commenting on the move. they say it will not ease the pressure on european leadership for economic reforms.
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a european free trade agreements with the united states, canada and japan. weighing heavily on the eurozone, the country is heading are a crucial general election on hyundai. the opposition is leading in the polls. -- on sunday. the opposition is leading in the polls. >> in today's report, as part we accompany a young woman struggling to get by. >> she is starting with the basics, peeling and shopping. it's a big change before the recession. -- it's a big change.
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before the recession, her parents were wealthy. she had to bury her hopes of a highflying international career for now, at least. learning culinary skills has given the 20-year-old a new inspiration. >> are a food is a great asset for marketing our country. it is definitely a huge resource . when it comes to boosting our economy, it is something that greece should promote because we have food. it's just up to us to promote it in the right way. >> she is part of a young generation of new people that bears little relation to the most successful country their parents once knew. she lives at home with her mother who is now divorced. she also works as a chef at a local embassy. it's a tough job, she says. not one that she would've chosen for her daughter.
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>> this generation is being forced to have a more realistic view of the world. maybe that is why they are prepared to take steps that my generation is not courageous enough to take. >> she finds new ways out of the crisis. that is why she will be voting for the opposition party. she is confident they will do the best job. >> i think it is because we want new people, younger people on the political scene. we want to see something different. it doesn't matter if it's left or if it's right. it's just different. it we want something different. >> it is a private school. it costs money and the u.s. wants to be sure -- and she wants to be sure that she's
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investing properly. >> young people don't have that kind of patients. i can't really blame them. >> she certainly doesn't want to wait 10 years. she's signed up for courses to improve her career prospects. she works as a waitress. she has learned to be disciplined and ambitious. she's hoping for a change of government. >> asking the international coalition fighting the islamic state for more weapons to battle. >> the iraqi prime minister said of the coalition air campaign they stepped up its effectiveness.
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u.s. secretary of state john kerry said the isn iraq and syria was a global problem that required a court needed response. >> what has come out of these talks? >> these talks were about closer coordination. the so-called steering group, 20 countries also. what they were saying was this was to cut off the terrorists funding. as you mentioned it was an opportunity to ask for more support.
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he did ask and they were receptive. >> they said the army is not prepared to take on i asked and it needs 80,000 more well-trained troops to do so. >> it was very much about how to present the success of the coalition. 50% of the terrorist command structure, how he had been eliminated. he very much wanted to present it as a success story so far but no denial that there is, as he said, a long way to go.
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there are no shortcuts. that is what he said. >> thanks so much for now. >> the president of yemen and his government -- >> the parliament has rejected it. they took control of the palace and are calling for the establishment. >> going to a short break. and also violent clashes they will be talking to our correspondent there. don't go away.
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>> it has been one of the bloodiest days yet in eastern ukraine. >> both sides sides in the conflict have been accusing each other with separatists saying that the forensics teams blaming rebel forces. they came up with a plan for easing tensions and after they pulled back. >> 15 kilometers away from the fighting it dropped into a neighborhood that had been relatively peaceful until now. buildings nearby were shattered by the force of the blast.
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>> we went out when we heard something. it all exploded. there were probably three blast. >> the blame game began immediately. it is a monstrous crime and the responsibility lay with key of. russia must take responsibility. they reacted violently to the accusations from key of.
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just a few hours earlier, the foreign ministers had met in berlin and had a again agreed for all heavy weaponry to be withdrawn from the front lines. the recent escalation of violence seems no closer to letting up. >> saudi arabia has postponed the public flogging of a blogger accused of insulting islam for a second week running. >> he has been last 50 times about two weeks ago. he has been sentenced to 1000 lashes and 10 years in jail for internet postings resulting in islam. protesters in berlin have also been calling for the immediate and unconditional release. the u.n. secretary-general ban
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ki-moon is issuing restraint after deadly protest and clashes in the democratic republic of the congo. >> at least 42 people have been killed this week. it would extend the president possibly rule. the country's parliament is expected to vote on the legislation on friday. and joining us on the line, she is in the east of the democratic republic of the congo. how is the situation there this evening? >> it looked like the aftermath. the demonstration this morning on university. the tear gas and rubber bullets.
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coming out and [indiscernible] over a dozen injuries. >> are these protests having any chance of success? >> it is not nearly around the opposition. as for the young man they have a job. it was very hopeless. many were frustrated and using
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the opportunity for aggression and protesting against the government. >> the east of the democratic republic of the congo. >> the anti-islam movement saw fewer people than organizers expected at a rally in the eastern city. >> 15,000 supporters marched to the city, less than half of the 40,000 predicted. counterdemonstrators also turned out. they resigned after pictures posing as hitler were made public. a film that has just opened in german cinemas probes a moment.
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housing asylum seekers. >> here is more. >> two years after the fall of the berlin wall. in the midst of recession and high unemployment an angry mob gathered outside a home for asylums acres. they spent two years doing research before making his film on the 1992 immigration riots. >> we started to work on the project because we noticed the events were getting to slip into the collective subconscious. we thought this was scandalous.
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>> it led to the riots offering different perspectives. the frightened the enemy's restaurants -- the enemy's residence. -- vietnamese residents. and a group of young people with no job prospects that ended up finding meaning in right wing extremism. >> this time tomorrow, it will be free of foreigners. >> the home for asylum went up in flames. it was the largest mob attack. pausing -- thousands of onlookers applauded.
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>> the rest came from the center of society. we wanted to convey this scary truth. >> it is a poignant reminder of the past and very relevant today. >> american and cuban officials have a second day of groundbreaking talks. five decades of entity. >> president barack obama and his cuban counterpart announced the thaw in relations and both sides have described the talks as constructive. >> they described the first day
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of talks as constructive. the foreign accuses washington of causing a brain drain by allowing them -- they say it recruits cuban doctors working abroad. >> we reject the policy of encouraging cuban health officials and technicians to abandon their posts and third-party countries. >> it is a reprehensible practice of stealing human capital. >> there is optimism on both sides.
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president obama says he wants in and to the long-standing u.s. economic sanctions on cuba including the trade embargo. >> simon schempp has taken a second victory in the biathlon world cup. >> a 10 kilometer sprint, they had a perfect score hitting all targets and coming in 14 seconds ahead of second-place. after winning the world championships in freestyle skiing. >> this is the second time the german skier has taken the slope style title. it comes in second with sue's on a of slovakia taking the bronze
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medal. a reminder of the top story this hour, the ecb has announced a controversial one trillion euro bond buying program to kickstart struggling eurozone economies.
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all street's number one economist ed hyman and global chief investment officer mr. kim. next on consuelo mack wealthtrack. ♪
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