europe was either occupied or had been conquered, and every country in europe needed resources -- it needed to restock, it needed food. and of course, it had to be reconstructed. we were the only country that had the real resources to spare for that. and of course, you'd have to buy these resources with the dollar. schoumacher: so bretton woods provided a framework for the rebuilding of europe. and the united states played the key role in financing europe's recovery. the marshall plan, created in 1947, gave millions of dollars to europe. this flow of dollars and goods was soon supplemented by loans and private investments from the united states. the american economy reaped immediate benefits from europe's rebuilding. as fast as the dollars were pumped overseas, they flowed back here to pay for american machinery and goods. in the decade following the war, europe imported billions of dollars worth of products from the united states. but by the mid-'50s, european economies were no longer so dependent upon american goods. by the 1960s, our payments abroad for imports, investments, and f

and deep of course into historic russia as long as europe continues that geopolitical program. this. these problems will continue these tensions will continue and of course they will particularly continue in ukraine ukraine is the biggest prize but it's also the most difficult prize other countries smaller countries like georgia and so on a fairly fairly easy to take over so as long as europe continues with its march to the into the east i think these tensions will continue on the other hand it's not clear for how long europe will be able to continue to exercise this fascination as it undoubtedly does in certain parts of the ukraine because everybody knows that the european model itself is in deep crisis. everybody knows that in southern europe from where i'm speaking now the euro has inflicted terrible economic damage youth unemployment is over fifty percent in spain and so on so europe will i think cease to have to vittie increasingly so at least for people who look at things factually rather than with emotion as many people are doing right and that's their return to the e.u.

what is your of europe is all. the old system that gave us the renaissance and it gave us the biggest achievements. in the judea christian civilization and i am behind this but each time it comes every in a while in the century to the crisis then there is a formal way to go for the goods on the other side my problem a little bit problem in founders of understanding this if the current the present. administration with a president is one hundred percent decided not to go to europe as that as they said it i don't know if this is sincere act of mr what is it you know the cards or what is it they were in practice in fact negotiating trying to get more from europe but the point is they will never get money from europe because europe cannot give them nothing they are likely to have money and now the question who has the money and they will all know that russia has the money because our side has the sources in say b. area which they don't have for whom napoleon was kind of coming and trying to get it he too was trying to g

compare that to europe. you're not really seen it in europe. i am cautious because at the start of the year, the view of how they should treat to the banks. that is something to look at. however, you have seen in the last four years -- >> very quickly. we have to take a break. >> you have seen a huge amount of money flowing through bonds. not just one year of trade. so much.you we'll come back to you after the break. up? else is coming sachs wilson of goldman will join us later in the hour. we will be discussing prophetic taper. and his outlook for 2014. ♪ >> welcome to "on the move." we are getting pictures as angela merkel is worn in for a third term this morning. it's what happened in berlin. seeing pictures of purchase a couple of minutes ago. she is there mingling with parliamentarians. this is two days before the leaders meet in brussels. we will monitor and get back to them as soon as something exciting happens. from london, this is "on the move" on bloomberg.com. dixons, largest retailer in the in., posted the first profit 10 years. m

that's the prospect of the deal he had with europe. yes, it was going to require transition but it offered the prospect and lots of research has shown that it offered the sustainable growth and jobs over time and he has been weighing off the short-term costs and pushing away--pushing back on exactly that fear of having to take painful decisions which would have come in the context of a deal with the international monetary fund, higher energy prices. >> katherine stoner, you wanted to say? >> yes, the other issue, too, well looking at the european union, which has its problems, the irarussian economy has its problems as well. they believe that it has reached its maximum productive output. it has gone from growing 8% to 10% a year between 2001 and 2008 to growing about 1.4% by the end of this year. russia has obviously some big things to offer in particular ukraine's gas supply. and it's not afraid to turn the gas supply off. it has done that in the past with ukraine. it could also jack up those gas prices. so here we are in the middle o

in the banking system in europe. banning u n has nothing to do with the subprime study it and i can do. it was a classic it was the fate of the banking system means i get to slp cos the teacher has nothing to do with the big crises we are suffering above the big crises from the us welcomed the funding crises in denying that god raised children when we look at a few cares about unemployment since two thousand and ten. now we need even more cool. and that goal in the eurozone and the number has been kept in the european union for the site they're going to leave it there because reptile how much of that is due to financial sector as well but i will both have to leave it there are not all that said i wanted. thank you one thing was that the suspect who i wanna thank those looking to make for being with us from berlin thank you for joining us here in the last time. i know room. from there. and. i can in. the it is. and yours geelong business. state of tennessee italian politicians or chicken. all right and some change the

and our strategy behind europe whole and free. i'm the executive vice president here at the atlantic council. we have a few minutes to have a conversation about your trip and the remarks you just delivered. you are free to tweet, #acukraine. senator, you have laid out six principles to guide our way forward as we think about ukraine. you offered broader remarks about russia, about russia's strategy, about u.s. and european strategy, and the eastern partnership in general. we have many ambassadors, representatives from those countries here today. let me bring you back to your trip here you spend some time with president -- your trip. you spent some time with president yanukovych and senator murphy. what did you take away from your conversation in terms of his motivation and goals? president yanukovych was preparing his own country over two years for this process -- this agreement with the eu, only to surprise them with this turnaround before the end. how did your conversation lead you in terms of understanding where do you think he

members of the oist see between russia and europe maybe growing divide and i wonder if there. warthe called thracian in the title of your organization is still fitting because it seems like there are more disagreements more rivalries than actually you know those countries working together well competition these are the same the metal but also the gold and we want to work through to see more cooperation in future and that this is always be from the origin in a way from the c.s.c. one of the key the key elements there was no corporation in the beginning but the name was still there so we we are moving and we keep moving in the same direction well mr vanier thank you very much for your time i really appreciate your perspective and chair of yours if you like the show please join us again same place same time here on worlds apart. what defines a country's success. faceless figures of economic growth. or standard of living. if. live. play. live. in effect that means you can jump in anytime you want. to. believe. her. face the economic ups and downs in the final. day but the deal san

members of the always see between russia and europe maybe growing divide and i wonder if there. warrant called thracian in the title of your organization is still fitting because it seems like there are more disagreements more rivalries than actually you know those countries working together well competition these are the same the metal but also the goal and we want to work through to see more cooperation in future and that this is always be from from the origin in away from the the c.s.c. one of the key the key elements there was no corporation in the beginning but the name was still there so we we are moving and we keep moving in the said direction while mr senator thank you very much for your time i really appreciate your perspective and chair of yours if you like the show please join us again same place same time here on worlds apart. ily. ily. ily. you. wealthy british. it's time to. go. to. market. find out what's really happening to the global economy for a no holds barred look at the global financial headlines to cause a report on. time magazine's person of the year fran

in europe. the german high command new the time was up. what they hope to do was win the war before the american forces arrived. once the american forces were coming in increasing numbers, it was the end for germany. host: what countries that we have been talking about in europe and russia were democracies? guest: it depends what you mean by democracy. all by 1914 had some form of constitutional government, even russia, which had traditionally been seen as the most backward of all the great powers. but it now had a constitution and a parliament, and ahead local assembly. russia was moving down the road. it was by no means a full democracy. britain was a parliamentary democracy, although not everyone in britain had the right to vote. women did not. germany in some ways was democratic. in some ways it was not. the parliament for the whole of germany was elected by universal male suffrage. all men had the vote. but prussia the biggest part of germany had a restricted franchise. it was undemocratic

right in europe which is a very. general issue very broad issue and on the one hand it includes you know fair treatment nondiscriminatory treatment of individuals which everybody supports but on the other hand it may also include. total bridges the nation of the poor social institution which is marriage and many people strongly oppose that but then europe many governments took the route of. pushing for these legislative changes from top down and for many here in the new europe that's not democratic that's plain authoritarian many of established democracies would still insist on that i wonder how we can really come to a place when everybody's opinion the with with comment equally rather than some having more entitle them to democracy than others. still a think the us c. is based on a. principle which is very very strongly held in the organization which is the principle consensus so we do not agree on many thing unless and until everybody feels comfortable with it so the issue you mention of the b.p. well there is a ge

money coming into europe. from the clients that you talk to, from the flow of money that you see, is that just getting going? >> absolutely. this is the first trickle of rotation from fixed income into equity. we have seen a lot of hedge funds have interest in european stocks. state.st see a binary either europe is in a crisis or it is recovering. now it is flipped from crisis to recovering. they're looking to invest in those cyclically exposed the names in europe. we have seen these flows, we have also seen flows out of the core inequities. germany, we have seen outflows. that is where we see the greatest upside. >> do you buy spain and italy? >> definitely. the greatest opportunities will be there in the peripheral equity markets. if you look at that, i expect further compression which will lead to bond spreads tightening too. >> eying italy bonds,'s banished bonds -- spanish bonds and selling german bonds. we have this stability fund or the shaping of a banking union. does that change the landscape in terms

. >> so i think europe next year, northern europe, will be sort of flat, up 1%, which is fine for what you -- what we want to do. and i think on the equities side, i think you'd rather be in sort of southern europe, because there you have much more room to grow. >> let me ask you -- >> plus, it's a tale of two different types of investments, right? >> right. >> equity investors want higher returns, but you have a constituent audience of investors that is looking to replace the shortage of yield availability -- >> correct. >> -- if fixed income markets, and when you compare and contrast the types of fixed income investments you're making in europe versus the high-yield market here in the u.s. >> well, you sort of look at it, in europe today, you can lend out on a senior secured basis, and you can probably make around sort of a 10%, 11% return -- >> mm mm. >> -- and it's a floating rate instrument, and making 10%, 11%, and the high-yield market around 6%, 7%. and not everything is senior and secured. so you're getting massively overpaid for that risk. and if you could end up making a loa

in europe. he wants to go into the u.s., asia. that is why they are opening some 15 stores this year. international sales are up some 29%. they do seem to be convincing the analysts, the investors. expectations finally rising again, up 15%. he is pushing hard. he has a long way to prove. less thanprice is half of where it was back in its peak last year. still, needing to harness the growth of mulberry that he needs expand beyond the u.k. borders. >> thank you so much, caroline hyde with a look at west elm and .ulberry anotherre looking at u.s. company increasing its presence in europe. >> we are talking about cars. up for theg hearing narrow streets of europe for the first time ever. the american car will go on sale in this region. my colleague mark barton spoke president. he joins us now to talk us through the big day. you know what really surprised me? this is the mustang. >> he wasn't jumping up and down. he was calm. 50 years old next year. >> him or the car? >> good question. probably around 50, but it is 50 .ext year in 2014

serbia is placed in southeast europe. and becoming a member of european union. makes a lot of limits in production. makes you developed as much as they want gives you a chance to have access to the great phones the question is how much you get and how much you lose i think because to become a european union member it's very expensive first serbia and i don't think if i was the president i would never go this way they go but what i chose to survey had to think you can survive on your own why not you can survive over the best how customer survived next america and still are still doing well and still even alive why not if you become. and then another question is when you become european union does it understand but i don't say becoming a native. i think it's it's compatible it's a lot of money understand the other and this is then the biggest bigger mess i would say in which show i would be playing militarily and economically a country which could combine the two worlds if i look. if i look czech republic except today of all these old houses i don't think the life

administration with the president is one hundred percent decided not to go to europe as the as they said it i don't know if this is sincere act of mr what is it you know the cards or what is it they were interacting fact negotiating trying to get more from europe but the point is they will never get money from you because europe cannot give them i think they are letting them have money and now the question who has the money and they will all know that russia has the money because our side has the sources in say b. area which they don't have for whom napoleon was kind of coming and trying to get it hitler was trying to get it. and even medling already said that it's unfair if such a small number of people living as a second a territory she was in fact thinking that your gas your oil and all the minerals and all the stuff that you have over there it's unfairly not shared with them but what do you think about the people who are on the my don square when you think of them they look well it's very frozen they are like many other but i think that you believe in their sincere wish to be integra

used to you or europe or huge. so european politicians taking part in antigovernment protests in another country will take on this. first and foremost i don't know if those politicians for of from poland the right to speak on behalf of poland and on behalf of the polish authorities because as far as i know no one neither the president neither the prime minister have entitled them to speak and voice the polish. polish of the sole opinion about the events in kiev second i don't know if mr prout i shave each had the right to speak on behalf of european parliament because i asked for as i know european parliament has also not voted for any let's say one sided resolution which would be in support of excuse me of those protesting now on the square of independence so i think this is rather a kind of private or individual initiative of some of the polish politicians we also know that the leader of the biggest opposition party from poland kaczynski the leader of law and justice party also visited kiev those days so i think

outfit to mom's for ukraine's president of government to resign and the decision to turn away from europe. my siblings and evidence points to war crimes committed by the syrian government tonight government has ordered police to remain barricades outside government and police headquarters and two and i'll protest is in sorry. this takes the sense that the government wanted to avoid any type of confrontation and finance the phrase panties in banco pay for the weekend and on monday. anti government protest is trying to still the official buildings. thai prime minister has rejected demands that she step down unit to watchers said it could be unconstitutional that she is a pain to make a ca shoes . despite freezing temperatures thousands of printer you demonstrate is that kept up their demands for ukraine's president viktor yanukovich to resign they appeared to be instead on by the solidarity between guy that supposition eat this kind of bond that snaked out during the weekend scott says the edited photo who we call for the impeachment of the president for the resignation of the government's

it is europe again. she is the european summit in brussels and she will be looking at banking union. >> thank you so much. david tweed with the latest from berlin. we will be looking and continue to look at these live pictures out of berlin. debate onne to the how to fix overcapacity issues at one of the biggest airline hubs in the world. the u.k.'s airport commission study is out with its list of recommendations. on the list is the idea of expanding heathrow. caroline hine has been following the story. walk us through the key proposals. they have come up with three proposals on the shortlist. we do not need one by 2030, but two new runways in the united kingdom. where are they can that be? one option is gatwick airport. the other two options focus on heathrow. one brand-new one way there or extend one that already exists. that would enable that to operate as two independent runways. estuary three -- thames is going to be reassessed come the first half of 2014. not on the list is birmingham airport. it i

the key variable here is what is going to happen in europe. right now, the ecb has been shrinking its balance sheets. in other words, the ecb has been withdrawing from the special monetary measures just like the fed, but the markets never really noticed. whys has the market not noticed? right across europe, particularly the funds, they're actually increasing their weight toes fixed income. my sense is that trend we've seen in the latter part of 2013 will continue in 2014. why? because when yields go higher, it means they want to lock into those better rates. we don't see that trend in the u.s. my sense, therefore, is we could see an outperformance of fixed european income over the early part of next year. >> which is kind of interesting. is there a point? if u.s. yields rise further or quicker, will that be more on destabilizing? is it going to rise gradually? >> if that were to be the case, we would have seen yields a lot more volatile in the second half of 2013 and they weren't. my sense is probably around april or may, that was the fiscal p

he became one of the most respected ambassadors in europe, diplomats in europe. he was, in fact, eventually shot by a woman, but it didn't have anything -- [laughter] it didn't have anything to do with that. it was a fascist who hated him, and she shot him on one of the bridges in paris, and he lived. he lies today in a cemetery in paris beside his wife and among his lafayette ancestors, many of whom had died within a stone's throw of the guillotine during the french revolution. entertaining here in another massachusetts -- and in other massachusetts avenue houses had public receptions in the private houses. more for lack of space, i think, than anything else. they were crammed and rented houses, just townhouses with a double parlor here in the dining room. and people would come, public receptions, they'd just run 'em through and run 'em out the back because they were so crowded. a public reception was literally that, often advertised by notice in the post or evening star. some hostesses announced weekly, announced themselves weekly during the social season. most

europe is certainly bottomed economically. the case that europe is st. louis a couple years behind the u.s., as far as use of social networking, facebook is one of the few companies that offers a critical mass for advertisers. this is an advertising business. 90% of its sales is done through advertising networks. in the case of q4, for example, expectations they're going to grow sales 16% sequentially, up from 13% expected growth just two months ago. i think they'll upside q4 and upside 2014. 20 times, yes, it's expensive, not a cheap stock. don't care -- none of the stocks are supercheap, not looked at by value buyers. for the growth rate, we like facebook quite a bit. >> got it. thanks for joining us. happy new year. top picks google, facebook, priceline. could you buy any of those stocks? >> disney's kind of interesting. but i do worry about the networks of the stocks that they mentioned because you've got such a competition now for cable, networks, facebook, with google, with all of these companies, not to mention amazon, netflixes. facebook, i'm not

you're talking about the fact political europe is not one europe. real estate markets are very different compared to the country where you are in. is there too much of a two speeds economy in europe or even three speeds and do you see that in real estate prices? >> when you look at america for areple, cities, some cities doing better than others and some are going bust. you have situations where some cities in europe have public transportation, universities, growth and some are missing the point of the transformation. howc are you going to spend the money you're getting fromarrefour? are you going on the acquisitive trail? klepierre t is for to reach its strategic goal. it was our main target and we have achieved it could we are happy with that because it is going to dramatically improve the financial profile ofklepierre. and will allow it to get better access. willnk we believe that it be of the utmost importance to have a strong balance sheet in the current environment. i hope you come to the studios here in london so that we can continue the conv

people are against the level of integration that we have or where we stand in our relationship with europe at the moment. that's not to say that the russian now oh for why people are accepting that integration is the same it has changed over time we joined the european union as a country whose level of income was below the european average despite everything that's happened we're now at least in line with our average and ahead of us in some cases in terms of your specific question regarding banking desmet that's a very very controversial question in our politics let alone european politics. but i think there's a number of facts that we have to lay alongside us the first one is the. irish decision to put in place a banking guarantee that happened at a time of a global orthodoxy regarding how failing banks needed to be supported. so to see incurring bank purely as a result of our relationship our membership of the european union is an analysis that i would i would challenge absolutely and the you mentioned these prevailing arthur the exit and i think one country that was sort of subjected to

if you are bored of europe and we will support you reverse. you know. you can here to support your dream your striving towards the european union to support your march march towards but i know that there are forces in ukraine who think different. and of course how events in kiev will turn now to lou time will tell but at this point we are like more and more people to coming out to support the protesters and you have central independence square. and we asked the school skate director of the european center of her political analysis whether it's acceptable for punish politicians to chairperson asses in ukraine. as far as i know no one knew that the president either the prime minister has entitled them to speak and avoids the polish. polish official opinion about the events in kiev. i don't know if mr protege vetoed the right to speak on behalf of european parliament i think they're trying to get some more political out and sooner rather here in poland for the polish public opinion done to earn some points on the into and they are enough so i didn't really

had previously the reigning nuclear issue was one of the main reasons why the military defense scene europe was being deployed now we see that clear issue has been always being sold to the missile defense is still being deployed they like to underline that russia is ready to work with all the partners based on reasonable principles of it into business security. and nonproliferation regime to batter drug trafficking and terrorism and we will talk about that. with the g. eight former. we'll be guided by these principles when we prepare for the bricks in the shanghai cooperation organization sun that circuit russia will host in two thousand and fifteen. and we are now allies in our agreements with the eurasian economic union and by the first of june two thousand ford she will finalize the draft of the text of the agreement and will be submitted to the parliaments of bear the risk because the standard russia like to urge him to consider it took a minute to approve it. and there are media darling the. year customs union and of course as we get more members other countries will be more interested

. >> so david, tell us why europe? we still see headlines out of europe making investors concerned. why do you think it is where we can have the best opportunities? >> well, of course, that is the case, the best time to invest is when people are really worried. and people are still worried about europe, they have an unemployment in the eurozone of 12.1%. they are gradually pulling out of the long series of recessions that they have had. and if they could just get back to normal, even if it took a number of years, i mean, normal for europe would be a 7 or 6% unemployment rate, pretty much the same as here. but we're quite close to that. they're not. so over a number of years if they can get back to full employment it means a lot of economic growth and stock market appreciation, so there is just a lot of room for them to improve. >> and we're hearing from a lot of experts that the merging markets are making a comeback, they had a really bad 2013. what do you think? >> will, there are a lot of minefields, i think as an investor you have to have a lot of merging markets in your portfoli

europe is germany. really productive and to be good to pose with germany to be able to adapt to the media or or. speaking to the region the whole reason that is going to a big trade is. so well in germany is ukraine you say has greece and spain italy so many other every piece. in reach the who bring siemens they could bring their bearings they could extend their liver one million people come to. a month of. secret lover touring each year mccurry was able to build a new most sophisticated robot which fortunately doesn't give a darn about anything tunes mission to teach music creation and why it should care about humans in the world this is why you should care watch only on the. ukraine cease clarification from the e.u. after our european commissioner says trade deal talks with the country and now want to hold all this made nonstop anti-government protests in the capital that are being cheered on by politicians from the west. it is the protest about protests a rally in spain tones ugly during a campaign a

but the point is they will never get money from europe because europe cannot give them i think they are letting them have money and now the question who has the money and they will all know that russia has the money because our side has the sources in say b. area which they don't have for whom napoleon was kind coming and trying to get it hitler was trying to get it and even meddling all right said the.

want and ask for europe how much is there willing to give to keep the u.k. happy if at all. this is a council in dallas texas has introduced a new law pushing the brakes on the fracking industry it essentially means the trading a wells will move will be more and will move rather far from residential areas the move comes after texans with major concerns that show gas trading is putting biased them in their homes a tryst to stay as it is shaken by a string of us quakes in the past few months with scientists suggesting nearby a training might have caused a seismic activity environmentalist mogs out of you mccord was a big council meeting and agrees fracking should not take place anyway near population centers. they weren't drilling in our densely populated urban areas they were drilling out in remote areas with low population where they weren't doing any damage or destruction to anything when you start coming into an area with that dense the population bringing in all that truck traffic all those chemicals to be exposed into the air in the water in the soil where people are har

in europe. wealthy british style sign. on. market why not. find out what's really happening to the global economy. the global financial headlines tune in to cause a report on. an e.u. commissioner tweeted integration talks with ukraine have been put on hold but he wants official confirmation meanwhile there are still thousands of pro and anti-government protesters on the streets of the ukrainian capital. the american people want to react. to support the people of ukraine. and u.s. senator john mccain joins other american and e.u. politicians who are putting their full support behind the ukrainian opposition. also this week syria shaken by another wave of atrocities islamist rebel forces are said to massacre dozens of civilians in the latest in a series of attacks. designed and is set to exit its three year long bailout.

economy now has one of the highest levels of private sector job creation of any country within europe and we also have a large number of people abroad that are interested to coming back home to ireland to see how they can accelerate that level of job creation and that level of company and technological creation but why does unemployment down. fall saw slowly i mean as far as i understand it only went down by less than one percent if you say that there is such a fast you know speed of creating jobs in the private sector and indeed but i think that's an amazingly. one sided interpretation to take of what's happened in ireland across the knuckles last two years because of course you're right to say the level of unemployment has come slowly many economists are now saying down in our land what we have achieved over the last year is doubt we have achieved growth for this job creation as opposed to the other way around which is what normally happens. and we're now seeing our economy generate jobs at around three thousand new jobs promote. after going for many years and losing them by eight t

. >> angela merkel outlines her new policy on europe. what will it mean for the eurozone debt crisis? we speak with our political correspondent. >> and it looks like a new head coach for the world's current number two. some of russia's best-known prisoners, including the two jailed pussy riot members and 30 greenpeace activists could be freed after the country passed a wide-ranging amnesty bill. >> pregnant women, mothers, veterans, and those with disabilities are also set to be released from prison. >> thousands of people will be freed to mark the 20th anniversary of russia's post- soviet constitution. will talk more about this with a russian journalist. first, here is this report. >> it did not take long to rubber stamp the kremlin-backed amnesty law. thousands may now walked out of jail including prominent putin critics like the two pussy riot activists locked up for a protest in a russian church. this amnesty is the most wide- ranging in years. it could lead to the release of high-profile western detainees the kremlin might like to s

amnesty says europe isn't doing enough. he had bought a bunch we met with jim and i think the tools and other european countries to take in you'll see the wiki tools. thanks and i had to take effect the article weekend and will mean that in attendance. he keeps me on up the un estimates cost nine million students have been driven from their homes. and most remain inside the country's borders. increasing the sea and effigies of finding get on with contents in countries like egypt points on ten people there are already struggling with political instability and economic hard times. they see the new refugees as competitors for scarce jobs resourced already having meals everything in their homeland. secondly i think is the now struggling to make ends meet. now the coding practice on the outskirts of cairo the syrian refugees trying to teach this to some muhammad on the price to its wholesale and affection around the corner which eden's cells causing motorists. the scheme and cindy couldn't defeat the news today. getting enough t

but then europe -- for them, europe is a long way away. i do understand western ukrainians. europe is on their doorstep, and they see you can earn good money there. so they want europe. but for us, our neighbor is russia. we are-off sloss. we are one nation. >> a clock on the wall indicates moscow time. some stopped to watch the president give a tv interview justifying his pro-russian choice. >> basically i think he has done the right thing in this situation. as to what might happen in the future, we will have to see. >> such uncertainty about the future and mistrust seemed to trump both pro european and pro russian sentiments here. >> i say both sides have their pluses and minuses. it is a tough choice. >> the country's economy is in dire straits, but it is not only the current government's fault. >> others note that initially doing the i, they had two years to repair the economy. >> what did you do for two years? the industrialist union, the directors of the factories, what have you been doing for the past two years? >> while europe have ambitious modernization plans,gzw/

be ever have a nation is europe still going to want a partnership what this new unstable ukraine. well i believe. it's very much like the case of children and the war with russia in two thousand and eight when nato was thinking considering why not it why not accept the georgian bid for a nato membership now it's very much the same with the ukraine and its. association deal with the e.u. i think they are going to suspended for a while but i believe they are waiting to see a new leader which will be more flexible in terms of whether to partner with russia are all with you and then the will have him sit down at the table of negotiations and they will i will want to that's what i think political analyst and xander said about the thank you very much indeed for your time and sound. and here's why the ukrainian government is under pressure now thousands of protesters as well as the opposition parliament want to move the country towards europe but the government things that's premature saying brussels is not offering parks like membership and the privileges was to europeans enjoy that. th

won't let you crane profit from europe's economy as european union officials and has a few rypien states try to explain the advantages of european membership to the ukrainian population they couldn't name even a few ukrainian products that would be able to penetrate the european market and there is only one explanation for that is that there would be none indeed the european market is very protected market and it is actually the ukrainian market that europe needs particularly in this time of economic crisis so it is ukraine is viewed as an extension of the european market. the protesters weren't impressed by the ukrainians president promised to restart discussions on the e.u. trade deal which lies at the root of the unrest let's take a look at how the situation has unfolded over the past couple of weeks well it all began in kiev on november the twenty first soon after the government said it was suspending that major trade deal with the e.u. rallies on the capital's independence square last in another week with several thousand demonstrators and police occasionally engaging in scuffles on

and almost all of them have to work abroad and might sound nice to be able to work in europe but the reality is that ukrainians will probably be paid even less than bulgarians rumanians to clean toilets in london ukrainian nationalists don't have to like russia or join the customs union or join any bloc of countries but advocating a future for themselves the e.u. seems absolutely backwards at least to me but that's just my opinion. hello and welcome to worlds apart for years israel has used the believe tour and rhetoric over tammy's to justify its own military actions a policy that was recently dealt a blow iran's switch from accusations to negotiations securing a lot of market nuclear deal isn't it time for.

that's it from london and europe. let's go back to dough happen. >> a special panel investigating the n.s.a. has recommended it should have powers restrict. this tools allegations the n.s.a. collected records of billions of phone calls including those of fortune politicians. we report. >> the head of many of america's big tech companies were at the white house on tuesday, they want urgent reform of the n.s.a. and its data gathering operation. it looks like they may get their wish and a lot quicker than expected. a surveillance lee view board reported was due to be published next year but pushed out by the white house. it makes more than 40 recommendations, the n.s.a. will no longer keep a a foreign database. it will be held by the phone companies or third party. they can no longer ask for companies to build a back door in their software. the n.s.a. should not spy on non-u.s. citizens outside of the u.s. because of religion or political views. >> the scope of the surveillance program was revealed by edward snowden, the

in europe it was a good year. the ukay's ftse up 15%, the cac up, the german dax rose to a record up more than 25%. none of those held to the s&p 500. the broad market here, of course, you got a gain of 29% on the stop 500. on the stop 600 in europe you're up 17%. quite an underperformance there. dominic chu, is europe an opportunity or drag next year? >> it could be an opportunity, especially if you look at other places. you're always going to hear about what you said, the uk's footsy, germany's dax. what about the other market indic indic indices? they've had dekreents years. the hardest hit countries during the european debt crisis. italy's mib up in 2013. spain's ibex 35 up around we'll call it 21% in that time. and then greece's athens stock exchange composite index up 28%. one of the stories that hasn't been getting a ton of attention is ireland, the index is up a whopping look at this 34% in 2014. beating the german dax and the s&p 500 in the u.s. some investors who made those bets in those peripheral europ

we see that the slavic part of it is flooding western europe. looking for work i have many relatives from the slavic part of the e.u. and almost all of them have to work abroad and might sound nice to be able to work in europe but the reality is that ukrainians will probably be paid even less than bulgarians rumanians to clean toilets in london ukrainian nationalists don't have to like russia or join the customs union or join any bloc of countries but advocating a future for themselves the e.u. seems absolutely backwards at least to me the fascists my point. i have to get up at seven in the morning school i go to school go out easy do my homework in. my work and finish at eight o'clock and then i do the same thing the next day. as time goes by and we see the crisis getting worse those who have a job have to hang on to it. because it's not easy to find another. i don't think it's full of people my age of the responsibility of things like this . if i'm going to. like school. i'm not going to do well at school because i'm on a tight. here in the co

to that some corruption is going toward it into west europe so i think this is a big problem i don't think that ukrainians are going to receive much in the way of benefit from further partnership if again and referring to the if they don't have more control over how that partnership is shaped and i think what's happened is that that people in ukraine are very very frustrated with high levels of corruption in their government but high levels of dysfunctionality with the excessively high rates of inequality and so of course they aspire to west european standards of living of but also reduced corruption i think if they don't see is that west europe with its current kind of the film liberal trajectory is moving away from those previous and of social democratic norms of low corruption low levels of inequality and so they really are kind of moving away from from that model jeffrey great to talk to you thank you very much indeed for joining us live jeffrey summers associate professor of political economy and public policy in wisconsin working and i thank you very much and they went across a

the message is clear politically speaking europe doesn't have the will or desire to make sure member states respect a fundamental right the right to a childhood. i when autumn arrives in the fall garion village of writable get to know her and parents are back at work on the last stage after the harvest packing but dried tobacco. you're you happy. has she been working hard no not really. they're only interested in money these kids and who have just had the tobacco for you this year put it. into what else in the world yes i'm satisfied they do work hard they listen to me they do what they're told and they also study. just like the guys that offs the whole village is getting ready for the big tobacco sale. so when do the buyers arrive we have to bring our tobacco to a designated area. is you know then it's they are the ones who decide they organize the sale. they fix the price oh yes in half an hour and isn't it possible to negotiate no. i don't think the price for tobacco is fair but it depends on the buyer. anyhow the prices in bulgaria are always low because there aren't any subsidie

won't let you crane profit from europe's economy. as european union officials and heads of hew rypien states try to explain the advantage yourself european membership. in. the. even a few ukrainian products there would be able to penetrate the european market and there is only one explanation for that that there would be none indeed the european market is a very protected market and it is actually the ukrainian market that europe needs particularly in the time off in the economic crisis so it is ukraine is viewed as an extension of the european market. protests in kiev began november the twenty first soon after the government said it was suspending a major trade deal with the e.u. rallies on the company as independence square lasted another week with several thousand demonstrators and police occasionally engaging in scuffles on friday night however security forces ran out of patience and raided the camp using sheer force to despise the crowd of sorties were quick to ban any process in central kiev but this has only served to encourag

other feel the corrupting influencing of europe. ukraine is facing a political and religious struggle. >> robin are more people expected to turn out in the square in the hours and days ahead? >> yes, there are plans for big rallies again this weekend, both on behalf of the opposition movement here, we have seen buses coming in particularly from the west where the pro european movement strongest. and also the government is going to be holding a progovernment rally. there will be a lot of people coming in from areas where russian is more approved of. and this is all taking face against the backdrop of more talks with europeans about possibly signing this important trade agreement that would help with its modernizing and reforms, and the prospects of presidenti yanukovych to go to russia to have a meeting with the kremlin on a way to pull this country out of the economic struggles they are having. and there could be problems when these two groups converge, because these two rallies will be taking place very close to each other, and the

. >> how much is europe? >> europe lad a lousy close. look at the s&p, the market stabilized as soon as europe closed. there was selling pressure in europe. rolled over into here. and we've stabilized. let's take up kenny's point. lack of buying interest. number two, put the vix up. at the highest level since mid-october. been up three days in a row, there's what i'm talking about, the highest since october. we see also generally markets near the top and i see poor breath here, three to two, two to one decline to advancing stock. all tells me given the markets we've got, looks like some people are trying to look in a little gains on the year. come up up 26%. >> up 26%. >> this is not crazy idea to do this. >> a smart thing to do. if you're a hedge fund guy and close your books before the end of the year and had a good year -- >> you might as well. i mean the chance you take in the next three weeks is the market going to go up 10% or could it, in fact, sell off a little bit, right. chances are it's going to -- you're going to make a bet b

ultimately he will help liver ukraine to europe. was the endaid that goal, but the and now seems farther out. >> ok, senator murphy. thank you for joining us. u.s. officials have confirmed an indian and one that was strip searched in new york after being arrested. the indian government is shocked and appalled. the incidence came after she was taken into custody after allegations that she lied in her visa application. politicians have snubbed a visiting european delegation in response. a short time ago i spoke to our correspondent at the united nations in new york. >> let's start at the beginning. what happened to this diplomat? was arrestedmat last thursday. according to press reports in india, she was handcuffed. she was taking her child to school. that is when she was arrested. she was taken into custody where she was held in a cell and also rip searched. indiansthe thing the regard as so humiliating. there are reports in the media -- they have not been confirmed by the state department or the diplomat's lawyer -- but they were co