tv Dw News LINKTV August 14, 2015 2:00pm-2:31pm PDT
>> this is dw news live from berlin. greece is rescued again. eurozone finance ministers approved the latest bailout. the ministers meeting in brussels have approved the first 26 billion euros of the bailout package to help build greases shattered economy. the move saves greece from a possible default. after more than a century --
after more than half a century, the stars and flying again in cuba. the flag was raised that a symbolic ceremony in cuba with u.s. secretary of state john kerry in attendance. and japan's prime minister expresses profound grief or his country's actions in the second world war, but he stopped short of making a fresh apology. welcome to the show. eurozone finance ministers say they have approved a third bailout package for greece for a further 86 billion euros in exchange for tax increases and spending cuts. the agreement comes after six hours of talks in brussels. ahead of the summit, the german finance minister said he wanted clear confirmation that the international monetary fund board for a new deal.
the imf had expressed concerns about greece's mounting debts. >> it's an ambitious reform package. it addresses the main challenges both on reaching south public finances and to return to growth but also structural policy frameworks to enhance competitiveness, and finally, it safeguards financial stability and deals with the issues and the banks. anchor: for more, let's cross over to our bureau chief in brussels, max hoffman. the eurogroup has backed the bailout deal, as expected. what is next? max: in some countries, the parliaments still have to approve the deal. among them, germany, and it will have to be quick because the european stability mechanism who owns most of those funds and disperses them wants to disperse a first tranche of about 13 billion euros early on august
20, which is important because that is the day when greece has to pay back part of its debt. there will be more disbursements in september and october, but they will be connected closely, linked to prior actions by the government, meaning reforms, so the government will be monitored, basically, every step of the way. anchor: is the international monetary fund onboard? it has expressed reservations in recent days. max: the president of the european stability mechanism seemed optimistic that the imf would be on board and it is a condition of the germans to participate in the program that the imf be part of it, but the problem here is that the imf wants some serious debt restructuring or even a haircut because they think, as many others do, that greek debt is not sustainable. the estimate is 200% of gdp in
the next kid of years. the germans have ruled out any kind of real, nominal haircut, so they will have to figure out a way of doing something about the greek debt without calling in a haircut. there are ways and means of doing that, for example, extending debt maturity, and that is probably what happened come all. anchor: will this latest bailout helped greece? max: we have been here before. what we heard most this evening was if the government does implement these reforms, and there's a lot of political uncertainty, so everybody is hoping for the best in brussels, but one thing's for sure -- if these reforms really are implemented, it will be difficult times for the greek people before it gets better. anchor: thanks so much for joining us on the program. a short while ago, u.s. secretary of state john kerry officially reopened the american embassy in cuba after more than
84 years. it marks the latest step in a process that began late last year when barack obama and president raul castro announced the countries with seek to normalize relations -- would seek to normalize relations. >> the streets were packed for friday's ceremony. ordinary cubans flocked to the seafront, eager to see. it showed how important this moment is for many on the island. also present for the ceremony worth three men who played their own part in history. 54 years ago as young marines, they took down the stars and stripes outside this building as the u.s. shut down its embassy. at the key symbolic moment, they handed over the flag to the next generation.
as the u.s. secretary of state, john kerry looked on. the flag was hoisted once again. the stars and stripes on the havana seafront. this was a site many americans and cubans thought they would never see again. looking back on the decades of tension between the two countries, john kerry said the thawing of relations was a courageous move. he said both countries stand to benefit, but key differences remain. john kerry: we remain convinced the people would be best served
by democracy were the people remain free to express their ideas, practice their faith with a committed to economic and social justice, where institutions are answerable to those they serve and where civil society is independent and allowed to flourish. reporter: these are not the issues proving devices -- these are not the only issues proving devices -- divisive. many want to keep in place washington's embargo. many plead with u.s. congress to end the blockade. for many people from both nations, this is an occasion to celebrate. >> it's a lot of work to produce -- a lot of work to do. i can imagine myself as an older man being able to integrate those parts of myself and not feeling like i have to integrate one or the other or that cannot do both at the same time. reporter: ordinary business can
now begin. staff will help establish direct flights and mail links. measures like these will surely see havana and washington inch closer together. anchor: we're now joined by a cuban professor and author who has written memoirs on the subject. you were airlifted out of cuba in the 1960's as a child. what does this historic day mean for you? >> it does not really make anything different for me, and it is a very sad day for me. nothing of substance has changed in cuba. nothing of substance is going to change as a result of what happened today. it's a purely symbolic but very empty exercise. anchor: not a happy day for you. there is still the contentious issue of the trade embargo that cuba wants lifted. what are the chances of that happening any time soon?
>> congress has to improve -- approve the lifting of the embargo, but in fact, there has not been a real embargo for many years. the u.s. is cuba spit largest trading partner, and they buy most of their food from the united states -- the u.s. is cuba's fifth largest trading partner. cuba has a long record of never paying its debt. russia recently for gave $19 billion in debt. the embargo has not really hurt the cuban economy. what has hurt the cuban economy is the castro regime. cuba has been buying things and food from the united states and the rest of the world for many years. the embargo means giving credit to cuba and for the castro regime to be able to default on everything.
anchor: thank you so much for joining us on the program today. >> thank you for having me on the program. anchor: china's foreign ministry has called on japan to make a sincere apology for its actions in world war ii, following a statement by the japanese prime minister marking the 70th anniversary of the end of the war. shinzo abe expressed his profound grief but did not offer his own apology. he also said future generations should not have to say sorry anymore. reporter: a day of close scrutiny for the japanese prime minister, even as he visited his father's grave. if and how he should apologize for japan's wartime actions has been a subject of much debate. then came the words many were waiting to hear. abe: our country inflicted immeasurable damage and suffering upon innocent people.
history is harsh. what is done cannot be undone. we must not let our children, grandchildren, and future generations to come, who have nothing to do with that war, be predestined to apologize. anchor: the u.s. dropping of atomic bombs on hiroshima and nagasaki led to the end of the second world war in the artiste. it also -- in the far east. it also ended japan's ambitions. tokyo's aggression cost an estimated 24 million lives. on august 15, 19 45, a message recorded by the emperor a day early -- a day earlier announced the country cost surrender to a sided -- on august 15, 1945, a
message recorded by the emperor a day earlier announced the country cost surrender -- the country's surrender. china and south korea suffered under japan's colonial rule. in beijing, people say abe did not go far enough. >> he should have apologized earlier. we've been waiting for it. what he should do now is improve communication and cooperation between china and japan. reporter: protesters made their feelings known in front of the japanese consulate in hong kong. they say words are not enough and are demanding action. >> the japanese army converted everyone's money in hong kong into military currency. they surrendered and left in 1945, but to this day, people have not been able to reclaim their money. reporter: activists say people
are owed millions by tokyo. japan wants more than ever to be seen as a peaceful nation, but it could soon be undertaking its first overseas combat missions in the postwar era alongside the united states. anchor: one of the world's leading experts on japan and the author of several books joins us now via skype from boston university. welcome now. abe has said generations born after the second world war should not have to apologize. how do you think that will go down in japan? >> i think lots of people in japan feel the same sentiment, that they have an apologizing for many decades and would like to see better relations -- that they have been apologizing for many decades. there is concern about his stance on nationalist issues, and they are concerned he will needlessly provoke japan's neighbors, especially china and
south korea, countries they need to get along with, so i think there's a lot of concern. anchor: you mentioned japan's neighbors. how did they receive the speech? >> they are waiting to see. they had a chance to prepare. they know something along this line was coming because of other speeches he gave an the united states and australia. they knew he was going to try to give a kind of ambivalent apology. he accepts the apologies that early japanese governments gave, and he says japan has an issue to recognize history and a sick, but they also knew he would in many ways invade or a void -- evade or avoid direct responsibility. the chinese and south korean governments have been critical. they wish he had been more
anchor: hello again. you are with dw news. eurozone finance ministers have approved the latest bailout for greece, giving the go-ahead for the first 26 billion euros of the new bailout package to help rebuild greece's shattered economy. the world is facing its worst refugee crisis since the second world war according to eu possible -- eu's migration
commissioner as more and more people try to reach the eu from africa and the middle east. but how that is the problem really? let's take a closer look at the situation european countries are facing. >> a large number of migrants come to greece through turkey. on this greek island, people are still holding out in the heat. many of them have been here for two weeks. the local population on the island is around just 30,000. they wait an hour long queues in anticipation of travel documents. many want to continue to central europe. however, other eu countries are also having to handle an influx of migrants in search of a better life. in germany, many refugees are temporarily housed in tens without a proper roof over their heads because of a lack of
accommodation. the german interior minister is now considering supporting asylum seekers with goods instead of cash. the idea is to make the country less attractive to refugees, especially those coming from the balkans. >> the situation for migrants in northern france continues to be difficult. in calais, around 3000 people are living in a refugee camp known as the jungle desperately hoping to get to britain. to this end, they are willing to risk jumping onto trains or trucks. as a consequence, britain and france have further blocked the entrance to the euro tunnel. on a much larger scale, hungary is also taking similar action. after italy and greece, hungary has become one of the main transit points for migrants.
35 thousand people have arrived here in the past month alone. despite international criticism, hungary, more than any other european state, is attempting to stop the stream of people onto its territory. it's building a 174 kilometer-long sense -- febcnce along with serbia along its border. >> i was in the eurozone. germany and spain are keeping eurozone growth in the black. second quarter statistics have revealed that growth on the whole is continuing to creep up. average gdp for all of the countries in the common currency zone rose .3% in the second quarter of 2015 compared to the previous quarter, but some countries, of course, fared better than others. spain was close to the front of the pack, jumping a full percentage point. the best you could say about italy was his stayed in positive
territory, but it saw sluggish growth, only .2%, but even that managed to outstrip the dutch, where gdp rose by just .1%. the eurozone's two biggest economies -- have a fair -- how did they fare? let's have a look. >> once again posting lackluster results, the french are sitting on what money they have instead of spending it. all in all, there's a distinct lack of short of eve -- distinct lack of joie de vivre. next door in germany, things are still ticking along. the economy grew almost .5% quarter on quarter. german exporters profited from cheap oil and the cheaper euro, and domestic consumption was strong, boosted by rock-bottom
interest rates and low unemployment. germans are building and buying. but not everything is rosy in germany, either. growth continues to drop off in china, the most important trading partner in asia for many german companies. it could soon make a dent in the bottom lines. >> we just heard in the report that german companies may be affected by the economic downturn or slowdown in china, but how about the u.s.? will u.s. companies also likely take a hit? >> for searching, there are a couple of u.s. corporations who will see a little setback with their earnings, for instance, in the near future on one side. there are those expectations that the chinese economy is still slowing, so that might affect some of the fast food chains. for example, yum brands, just to
name one company, having chains like talk about -- tocco bell -- taco bell for kentucky fried chicken. then again, we also should not forget that the u.s. does not just import to china or produce certain goods over there, but they also import quite a bit from china, and the weaker yuan might actually be positive for those corporations. >> if you look at the market, for example, it was not a positive week, but if i look at the dow, it is a different picture. why? >> we definitely had quite a turnaround starting during the trading session on wednesday. for once, more experts are saying they understand what china is trying to achieve with the depreciation of their currency. the problem was the timing and that it was not really communicated to a lot of
investors, especially, who got hit by a surprise. we did see a lot of u.s. operations buying back their own shares, and that did help to stabilize the market quite a bit . for the week, the dow jones industrial average even went up by a good .5%, but all those worries about the chinese economy did also affect commodity prices. oil for the week was down by a good 3%, meaning that just within the past four weeks, oil prices plunged by a good 20%. >> thank you so much. frankfurt prosecutors have charged seven current and one former deutsche bank employee over a scheme to help a lender and clients evade taxes on carbon emissions trade. bank sources have stressed that no one on the management board is implicated, but the indictment is yet another hit to the thanks already damaged
reputation -- another hit to the bank's already damaged reputation. >> in recent years, the bank has faced a number of allegations of wrongdoing. some critics joke if you add bars to the windows, the headquarters could become germany's biggest jail. germany's biggest bank are sky high. they become one of the highest expenses for the bank since 2012. back then, legal fees just over 2.6 billion euros for the whole year. and just the first six months of the year, they surpassed 2.7 billion euros. scandals are continuing to rock the bank. the most recent allegations regard russia. the bank is accused of helping russian customers to launder money and tunnel capital out of the country -- funneled capital out of the country, a direct violation of u.s. sanctions.
investigations are just beginning. >> that's it from the business desk at the moment. anchor: with the football season slowly getting under way, teams across the globe are revealing their new kits. manchester united have a new megabucks deal with adidas. most kids looked very similar to last year, but some take a little getting used to. >> football clubs have a long history of color for kitsap sometimes dubious taste. over time, sponsorship deals have started playing a major role, possibly too big a role, producing some of the most eye-catching shirts fans have ever seen. this one a huge global following after being named worlds ugliest uniform last year -- this won a huge global following.
they have orders from every part of the world, not only spain. brazil and other countries like mexico also called. also other teams want them to make something similar with local, typical products. now a spanish team have gone one better. this sliced solano ham outfit is the real deal, proving that fashion is a question of taste. anchor: as we all know, there are kisses and there are cases, the kind that make history -- there are kisses and there are kisses, the kind that make history, like this one on vj day. hundreds have flocked to new york city to re-create this image. the iconic image of a sailor sharing a joyous moment with a
nurse appeared on the cover of "time" magazine. eurozone finance ministers have approved the latest bailout for greece, giving the go-ahead for the first 26 billion euros of the new bailout package to help build reese -- help rebuild greece's shattered economy. a highly symbolic ceremony marking the first step normalizing ties between cuba and the united states. secretary of state john kerry was in havana for the official reopening of the ceremony and used the occasion to call for genuine democracy in the country . don't forget, you can always get tw news on the go -- just download our brand-new app from google play or the apple store -- you can always get dw news on the go. i'll see you again at the top of the hour. bye.
host: welcome back to "live from paris here code let's look at the headlines. violence -- "live from paris." let's look at the headlines. violence erupts on the streets .f sao paulo china defends firefighters after , massive explosion in tianjin fanning accusations that their actions made things worse.