tv Venture Capital RT December 29, 2013 3:29pm-3:45pm EST
it's big. so we're going to check in with our correspondents in washington. mall twenty thirteen another says he has check in with period during his in washington for us a pan tell us twenty thirty. because it is definitely the financial winner in the united states started the year at about thirteen dollars and peaked at twelve hundred additionally congress held hearings on virtual currencies last month where federal regulatory officials recognized the benefits of big coin closing the year on a very positive note anyone invested in the virtual currency did very well and twenty thirteen the biggest loser this year is the middle class this year alone at their quantitative easing the federal reserve spent about a trillion dollars in bond purchases which is devaluing the u.s. dollar and of course it's also hundreds the country's reputation on the world stage and helped lead to the talks of a possible debt default during the partial government shutdown anyone on
a fixed income has been negatively affected by the feds and placed unary policies kind keep area in washington for us to not get across the pond and check in with mr p. to all of european correspondent to tell us how his twenty treaty age you're looking at the dates if the business at the end of twenty thirteen in the eurozone and things can look quite russi it. all does appear to be across all of the nations in the monetary union however when you look at it of a nation by nation basis you see that's not the case that is clear when is unclear looses when it comes to which is that you know for the right here in germany both large and small scale manufacturers have seen increases in the old and the old as they're receiving particular when it comes to the old to most of industry dumps go but for asian markets they've been targeting particularly hard when you look at the loses though just across the border into france the eurozone second biggest the cold. well they've seen steady contraction of the business say this of the mature
to be a worry heading into twenty fourteen and on to the still serious economic problems in countries like greece spain and portugal and the end of year report really reads good work germany but the rest of you need to do better oh new year warning there from mr page to all of our reporting from just so let's now go next door on the map and join alexy our chef ski he's been covering the events in kiev the trade will situation ever since alexei twenty thirteen has seen ukraine pushed into the global spotlight but for all the wrong ways as could you summarize the country's situation they see it for us. well in a van burnam early december it seemed that ukraine would be a big time loser this economic li the country's economy was in a pre default state trade relations with russia folded which seriously affected the economic situation in the country all add that to
a huge external debt of more than one hundred thirty six billion dollars it was cited as the main reason why give did not sign the eurozone station deal fearing that their country's economy might bludgeon to further abyss all that caused the massive unrest the blockade of governmental buildings and that's why the budget for twenty fourteen could not have been passed for a some time but two weeks before new year the president to call which went to moscow and signed several agreements moscow promised to invest fifteen billion dollars into ukrainian bonds and eventually the budget has been passed and we can say that at the end of the year ukraine might eventually turn out to be winners economically especially comparing to the situation in september and in the summer alexei yes yes the report saying in kiev for us rocking out twenty thirteen for ukraine look at them now arrived back in moscow eagle is to tell us what russia has achieved and what the country didn't manage to achieve in twenty thirteen eagle far away. well it's been
a year of broken illusions for russia sort of with optimism though with the government talking about an annual growth rate of five percent but then it was taken down to just one point four percent this year so what went wrong was simply russia is no longer immune to the global slow which means there is a weaker demand for russian export or domestic demand has been weak as well and investment recovery hasn't happened while promises for an infrastructure overall remain just that promises but it's not all that bad all the positive side rushes campaign against corruption has made progress in an effort to tackle offshore accounts bureaucrats were banned from possessing bank accounts of broad also the government is talking about introducing stricter penalties for firms of voiding domestic taxes thirty russian banks were shut down since they couldn't meet their new quality standards so an overall growth has been the loser but the winner has been russia's ongoing campaign against corruption you go there reporting it from
moscow as you can see just outside the kremlin and saying with russia that the biggest winner personified for twenty thirty was mikhail khodorkovsky once russia's richest man he was pardoned by president vladimir putin now the oil tycoon the former ucas oil company chief is spent ten years in prison for economic crimes including oil embezzlement but was freed on humanitarian reasons as his mother and this was putin's final much in twenty thirteen to improve the investment climate in russia the theme of anti corruption greed of law ongoing now moving on the saxo bank house released its annual outrageous predictions. and these are the ones that i think the most outrageous because there were ten inches or so i've picked five out so wealth tax harold to return a soviet style a cut of a us the first one so with growth still pretty flat well taxes have paid. people
with savings over one hundred thousand euros will be in force in a move towards equality for all the e.u. alliance will become the largest group in parliament yeah so well you don't need me to tell you that this would mean that political and economic turmoil and perhaps the end of the union. is the tx fact five wake up to a nasty hangover in twenty four t. so with the huge wealth of amazon netflix twitter pandora media yelp could this be said to her. friend crude drops to a c dollars a barrel that produces a fail to respond this would be a disaster for russia now all things to the non-conventional methods and increased saudi arabian as well and then the fifth one i chose i'm probably in my opinion is the most outrageous i was most shocked by this one in particular so you're
a powerhouse germany in recession what yet shocking stuff by let's get straight to saxo bank chief economist right now stephen jacobson to shed some light on these scenarios and i want to start and ask you about the e.u. a wealth tax what's that all about also likelihood of this happening. thing is very likely it's already been tabled by the i.m.s. as an indication of what is needed in europe europe needs of course as we also saw with the bangin deal this week is to secure a certain amount of funds that can be used to recapitalize the banking system and overall support do we get nations so mean the european economy has moved pretty much to almost to a soviet style me with planned economy and i think this will be the final straw confiscating wealth from europeans so if you've got money high debt and moving on
and c.e.o. alliance will become the largest group in parliament now this is that kids and the union completely. yes was what you probably noticed is that in the in england in the u.k. the u.k.i.p. party you can independent party is now bigger than the tories exactly to this european parliamentary election similar in france movie le pen is having strong we need to have cells and the far right in holland which also represent d.n.a. he's also doing his two year old son in polls so by end of may we could have a situation potentially where the biggest or the second biggest fraction of the european parliament would lead the n.t.e.u. vote which runs contrary to what the e.u. commission and most of the politicians once of course because they want more europe not less but it seems like the voters one is exactly the opposite to certainly one less europe not more people who got the text back five wake up to not stay hangover
in twenty forty because i've had a great year. yeah they had a phenomenal year and it's what is interesting is that we're not actually saying the technology is expensive where we are saying is that these names which is household names the names that people recognize the people use are the ones are the bigger risk of the bigger risk comes from the fact that when they buy technology they tend to buy what they do know and that's for sure trying to point out so take amazon the c.e.o. basis may be the most brilliant businessman in the world but they do not justify that you prefer a hundred dollars for every one dollar of a profit the the company generates is simply got to expenses or in the language of language you just used to fat. and listen this was particularly worrying the next one the eighty out dollars a barrel for the crude oil because obviously i'm talking to you from moscow here and he dependent stocks people could be sweating all over the place what's going to
happen that's quite worrying. it is but if you think about it it's actually cried laci gold because already right now in the w t i the u.s. space production easy extremely cheap and trading at a discount of fifteen to twenty dollars from the brenda oil but if we look at the brendel itself of course the biggest risk or the positive risk if you think it geopolitical is that the rain comes on line in terms of production again on top of that you have libya you have a some a number of the other countries that or the past couple of years has seen a much smaller production relatively if they do come on line and that the same time as i do expect a slightly we get global growth if you have almost a perfect storm in terms of the price and as you correctly say there will be a challenge to not only russia but certainly to most of the middle east absolutely what's in that month or so now this one for may was my personal most outrageous one
. in recess and what's out because they've done very well this is the powerhouse of year out that's scary. it is but it is again i don't think is that farfetched do not forget that the reason why you're a bad certainly germany did so well fearing through this crisis is the simple fact that the merchant decided should ramp up their investments all the way up to a significant part of the g.d.p. so they overly invested a lot of that investment they do do of course is german costs german production and then at the same time at home you now have minimum wage you have the most expensive electricity in the world you have seven million working poor so germany looks better on the surface than it does on the nice and i think that is what is coming to to the to the coming into full light in terms of twenty fourteen germany is already slowing down on the need but right now all of the reporting top line very
well staying jacobs and that joining us from sachs a bank told him to ask about the outrageous projections for twenty fourteen which apparently also outrageous all feels the levy thank you for joining me is indeed the last twenty thirty minutes while we see you next to. the burley in social science center just published a study suggesting that two thirds of muslims in western europe hold their religious rules to the laws of the countries that believe if you read the bible if you if you go into christianity you find the sentence that you should obey god more than. religious will one or two. more convincing those of the spirits of the very same thing that is now referred to
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such a pall mall of the twenty fourteen olympics what's this place like and the law is so special as the russian resort prepares to welcome the world power of the games shaping the city's present and future life so it will bring you this is the moment they're reporting from a very cold snowy windy mountainous stuff yet beyond the olympics but come on say. on our team.
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