the justice of the european parliament these are mostly already closed issues between the the european commission and the so. in general brad wrestles have lots of demands when it comes to hungary and there you know actually saying that if hungary doesn't meet those demands whether it's judiciary or frame or pratt or immigration they're actually saying that well may not find you in the next year budget so here's i think it's only that whatever you give the only makes up six percent of your budget first of all is it worth it is is that money worth doing everything they want you to do because i know that mr a bank has said you know we don't have to live off german money anyways well you know hunger is interest is european union to be strong because we. a strong conquering needs a strong european union because we have a very open economy and seventy nine percent of our exports goes to the european union we have an export over g.d.p. ratio around ninety percent so you can imagine how significant for us it is the european union to be stronger and european union to have a competitive economy

european union is a uni and that crosses state boundaries and that's like a core principle of european union and european union is based on principles of liberalism your country is and nation based conservative country which is not a good thing or a bad thing russia is the same way so. on the ideological level there are like just so many differences in the basis it's not about economics like why do you want to be part of the union so much that opposes everything that you guys stand for where the chile. is not everything is opposed the very things you know if you know if you look at the statistics for example how many infringement procedures are going on against us and others you will see that we are some they are in the middle so there is nothing extraordinary in this regard yeah we we have definitely debates based on ideology as well for example you know when it comes to the fact that when. and the election is not won by the liberals then the system is immediately goes to a does not a democracy which is totally unacceptable if the liberals do what we need to be a democracy of course s

into something like the european monetary fund so additional safeguards that no mention of a european finance minister that is something i'm unaware mccall certainly wanted and the big question for me he is still is how much money will be backing this in the end and i think this is what they talked about when they say that they will work out more details clearly this is a position here that they want to have something to bargain with when the end to those crucial talks at the e.u. summit coming up in just under two weeks time or in some broad strokes as you're seeing there michelle are coming to you simon because you know this comes at a time where migration is such a big issue here in germany and we understand that the interior minister who has been putting the chancellor under pressure to find a solution on migration in two weeks' time that he is also there and made the book . indeed we just saw his motorcade arriving here about fifteen minutes ago during while that press conference is going on just around the corner and of course the this meeting here a meeting not just of the t. h

as a step in the right direction but european council president. it will be difficult to implement even if they may be announcements of libya's coast guard said one hundred more migrants afia dead after their boat capsized in the mediterranean also on the program. second chances the football world cup in russia is down to the final sixteen. to take the top spot in croup she will bring you the highlights of. the group's other. i'm phil gale welcome to the program a huge lead is a celebrating reaching a tentative deal to migration but the signatures have barely dried but more news emerged of migrants risking their lives at sea to reach european shows the libyan coast guard says it rescued three hundred people from several boats and run into difficulties off the country's kunst in a separate incident on the same coast about one hundred people are believed to have drowned after their boat capsized. the e.u. migration plan is ambitious though lacking anything in the way of detail european council president donald tusk admits that it was too early to cla

the the reflex position of european leaders which is to say that we need a european solution to this problem is precisely wrong it is precisely the fact that we have a european union with a borderless internal space the showing an area which has caused the migration problem in the first place i first visited the song at camp near cali in the late one nine hundred ninety s. the migration crisis that we're talking about now didn't start in two thousand and fifteen it started in the one nine hundred ninety s. when italy joined the schengen zone and from that moment onwards the borders of the mediterranean were on the english channel yeah and it's there is a direct relation of cause and effect and what we saw in two thousand and sixteen after hungary and creation and the other countries built fences to close off the balkan route is that national solutions are the ones that solve this problem not european ones and we are now i hope seeing the same result with the italians who are taking matters into their own hands nationally defending their national territory and it's only by doing that

a european level or through bilateral agreements. there is. essentially the option of doing this in accordance with european law to turn away i'm done contented to sign seekers at the border then that would be wonderful and we certainly wish the chancellor every success in achieving us that we remain clearly getting with the position that if this doesn't succeed that we want to say to ensure that it is possible to turn away this loophole at the border now from after it is in for. the original decision to do this immediately i wanted to make this a little bit more specific as soon as i'm back and berlin well it's well those border. the german border police. turn away anyone who has a ban on entering germany or who does not have a residence permit and in germany on the goods they will be turned away at the borders immediately. this will not take place today both of may not. and in cuba. my recent time in my position i have found out that this isn't being done i cannot explain why we are not turning away people who are around only enter

i don't find any particular surprising our heard a lot of europeans suggest that the trouble. ministration is already actively undermining european interest by for example walking out of the j.c. ferry which present a security threat by raising the specter of another war plus it comes with the fragile secondary sanctions which of these two do you think is more dangerous or more threatening to european interests at this point of deduces really dangerous this is threatening our economic and political interests that think we should stand up against. pinsky's because you to absolutely eakins the international law that this was just to be around the green in these notes i literally lose my two lives to literally freeman based on this here on the united nations security council resolution binding resolution twenty two thirty one and the c b two withdrawal from d.c. cream it is a violation of international chancellor with all due respect how do exact quest to end up to that because your trade with the united states is i think in the range of six hundred billion dollars are you ready

who wants to find a european solution. so with fear is spreading that the deadlock could bring down the german government has no denying it he's trying to split the conservative block he said this to the built newspaper nobody in the c.s.u. is interested in toppling the child dissolving the conservative palm tree group or breaking up the coalition. bring in our chief political correspondent linda crane melinda we now have apparently the interior minister hall seeable for softening his position somewhat is this the beginning of a compromise between him and chancellor merkel hard to say for sure because we are also seeing reports this morning that he told a circle of the the bavarian conservative party's leadership that's the c.s.u. party that's at the heart of this whole dispute he told them apparently i can't work with that woman anymore be firming the two chancellor merkel so that makes it sound as if he is still seeing this as an absolute head to head power struggle but he did go on in the quote that he that you gave us

solutions and cooperation for my part time fighting for european solutions and european cooperation. million year old son dishing good. as things stand that seems a distant prospect the rescue ship lifeline is just the latest in a strange deeply divided only after days sailing round the mediterranean has the vessel been allowed to dock in malta. italy's prime minister qantas said to confront merkel at the summit he is adamant he will not be talked into letting migrants back in come to run through form the dublin agreement specifically that the country where refugees first the rise should no longer be responsible for them . is crucial we're expecting action not just talk to. within the e.u. hungary takes a hard line on migration its prime minister favors a populist approach why fuel migrants have come to europe in recent years he's sticking to his policy of no tolerance. i think the people request to sing so first is new migrants maureen was told them and the second is. to bring back so that's what the people we all saw i think we. will do to restore the utopian democracy we have to m

union what do you see is the solution as to how the how the european union can overcome these risks to the union stability especially in the face of nationalist populism. i mean my answer that question is proactivity you know if we try to just maintain the status quo but to allow populists to promise the world even though they counter liveris to create fears on the back of you know genuine concerns around people security and terrorism and radicalization and so on if we allow that type of populism to take hold well then managing a politically is going to be very very difficult in the future for the european union so this is the time for the center to stand up in terms of politics to build narratives and visions that can excite people in terms of what the european union could together as a collective can do as a power. the force not only for our improving quality of life across the european union but also to impact positively in other parts of the world that are going to impact on europe in the future if we don't become more proactive that is why in my view the european union establis

euro the european level for walk life balance. for protecting gender equality in the labor market for making sure that we can build up eleven playfields for european workers etc well making sure that all these can be achieved before the european elections that will take place in one ear time and i think the government or board or not on this the months will be very crucial for us you know eight zero is one of the most most relevant economies in europe but also one of the most relevant countries it depends on them if they want really to have a role in this discussion or not if they have to be power if they want to be powerful or. they want to be completely ruled out from the discussion and from the decision making process so we are really facing a crucial and very enigmatic moment it will be very important and interesting for us to understand what they are going to do in this respect this our priorities and we are going to discuss with them if they will be able to listen to us of course look of isn't easy the general secretary of t

one issue, more than any other, is polarising european politics and dividing the european union — migration. in germany it threatens angela merkel‘s grip on power. from italy to austria, to hungary and poland, it is driving policies and threatened to smash continental consensus. my guest karin kneissl is the foreign minister in austria's right—wing nationalist coalition government. are europeans finding their authentic voice or is a dangerous brand of populism poisoning politics? karin kneissl, welcome to hardtalk. thank you for the invitation. thank you forjoining us from vienna. i think we have to begin with migration. opinion surveys across europe show it is now the european public‘s number one concern. they appear to be apprehensive, they appear to be frightened about immigration. and, yet, the numbers of immigrants coming into europe year on year, right now, are actually going down. so how can you explain the rising apprehension? well, we have seen the year 2015, and i think one of the main reasons why british voters voted to say yes to brexit was because there was a sensation of

has with regard to the european union. in your daynow that job, besides working with republicans overseas, you are involved in the financial sector . that means you are involved in cross-border financial flows. are you not concerned that the risks of this action could be a lot greater than the potential gains? we are talking about only an overall difference of 1.7%, is it really worth risking a trade war? ralph: first of all, no, it's not. i don't see a trade war, first of all. second, i want to add something to the figure. i have figured the trade could be up to 2.5%, but let's put it 2%.een 1.7% and there is still quite a difference referring to the volume of trade, first of all. melinda: referring to duties. to actual tariffs as they stand on a broad range of products -- ralph: and it was at one point negotiated. absolute correct. at one point, trades developed in moore, so there is an imbalance, in a think it needs to be fixed. i think it was a very mild shock , and i think we should now go into talks. just like as you

which are dependent on european steel. high-quality steel, and those consumers can now hopefully ask for exemptions for the steel products they need. really appreciate your time this morning. thanks for joining us. axel eggert is the director of europe for the european steel association. we will bring you our exclusive interview later on today with the u.k. chancellor philip u.k.nd at four clock p.m. time. we will get his take on the tariff situation, the eu situation, and on brexit. it is an interview you don't want to miss. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: the european open." day. an incredibly busy 14 minutes to go till the open of stock trading. heading for ais defeat in a vote of no-confidence. the parliament will vote and opposition parties are joining forces against him. the prime minister has said he won't resign. the economic to , joining us from barcelona. thank you for your time, antonio. the first question i have for you as a spokesperson is why isn't albert rivera taking power h

the west european economies and initially it expensive states but overall everybody benefited now trump is saying it has to be a cost benefit analysis on that basis and putting america first means america has to come out on top and of course in schools the serious problems to european industries in finance in general because something that the united states is sort of spent most of the works at all since their actions against iran do sanctions on russia and so on which have a big effect and then also try. to kill a it's a view of the world which the your people and which simply repeated media regards with horns court record so there's a problem and then supposedly even with the british are supposed to so much united states they find themselves challenge to economically and also challenge to some extent on what is probably perceptible here trying to. couldn't go on tweeting about. going to. it if i could stay with they would be the british isles here. the issue the very top of this we have the iran deal with the us withdrew from but it seems to me that that is an archetype of the problem

sovereignty i'd like to talk a little bit about energy as well but i mean the europeans are being asked to go against their best interests and almost every single way and this is causing a great deal of tension go ahead in london. i think you know you've summarized the position in some respects but i do not think that is a kind of fundamental breach i think the europeans are clearly unhappy the one major diplomatic success if you like they can claim was the iran nuclear agreement and they're very upset at the united states withdrawal from it but on the other hand their ideas about iran and iran's regional power and it politico missile testing they don't differ very much so i think they they would appear to be a big tactical difference here. and so i would have what i would argue is that at the at the core of transatlantic relations from the very beginning i don't think there was ever any altruism involved there was always a position of power and a negotiation about power and power distribution so i think what the situation is now is that it's changed and to some extent there's a. negoti

cheema the european union is set to deliver its response to u.s. targets knocked into effect today the u.s. has new duties and still not a minium from the european union canada and mexico after weeks of negotiations to avert them live to an announcement but the e.u. create commission. in brussels in just a bit but first a look at what many fear is the start of a trade war. european leaders responded to the reality of new tariffs with frustration and even exhaustion still we're angry concerned outraged because we've been in talks with the americans for months now they don't listen and they think they can belittle us but that's not possible. and the europeans are allies and that's not how allies treat each other. this finish. behind the frustrations or concerns over industry a glut of metal with nowhere to go means falling prices which could in turn threaten european jobs that would have broader consequences to the economies of european member states. the e.u. says it has no choice but to retaliate with proportional penalties on u.s. products like mo

cordons with the european spirit but to something accordance with the european spirit to engage and to debate and to give the solution an opportunity. through the. decision. to give an opportunity to the all for solution entire democratic world to hold our friends partners and purchase. the green movement by which both countries leave the past behind and go for the future and when everybody thought that there is no we. have taken the car in china have me. dear friends. very grateful to you and to the minister to minister could see is for your virtues for your courage. to commit yourself together with this historic and a lasting solution i know it hasn't been easy for you to. have. had the right side of history. i would like to also express my sincere appreciation to ambassador murphy. as the personal envoy of the united nations. secretary-general he. has. three kids so his life. is something that demands that. and the least we can do today is to celebrate his birthday together with celebrating this our final agreement and i should also like to express my appreciation to the european re

percent on aluminum the european reaction is clear. it is unfortunate because this is further weakening the transatlantic relations and it also increases the risk of severe turbulence is in the markets globally protectionism can never be a solution and this will hurt jobs here in the european union but also in the u.s. the e.u. has launched an official complaint at the world trade organization. they want to introduce countermeasures like tariffs on u.s. products for example bourbon whiskey motorcycles and jeans worth some two point eight billion euros e.u. member states are meeting next week to decide on the exact list many economists agree with the measure europe as a very big economy and a very important market for u.s. products has a lot of influence that's why it's right to show the u.s. that they can't just do whatever they want the e.u. must use countermeasures to steer the process in the right direction. but it's those who are affected most who are speaking out against new e.u. tariffs on u.s. products or taking other measures t

solutions and cooperation for my part i'm fighting for european solutions and european cooperation. going you'll be in the sound of. as things stand that seems a distant prospect the rescue ship lifeline is just the latest illustration of how deeply divided only after days sailing round the mediterranean has the vessel been allowed to dock in malta. italy's prime minister qantas said to confront merkel at the summit he is adamant he will not be talked into letting migrants back and come to once to reform the dublin agreement specifically that the country refugee flows the rise should no longer be responsible for them. may's crucial we're expecting action not just talk fuck to within the e.u. hungary takes a hard line on migration its prime minister favors a populist approach why fuel migrants have come to europe in recent years he's sticking to his policy of no tolerance. i think the people request two things first is no migrants maureen will stop them and the second is those who are in bring back so that's what the people we all saw i think we. are in order to restore the european

we support any european solution and if we attempt to find a european solution in its way and we have never. had any doubts around this for many of the political decisions made in europe many that have divided europe we are not responsible for these we are not responsible for the decision the divisions in europe. and we certainly would support chancellor's efforts to achieve by latter agreements when it comes to. accepting people who do not get so if the asylum here in germany and also around the us during the council president seem the chancellor has explained to me in prison over and then that the austrians will be focusing on protecting your ex there in a way borders with the ex expanding the role that the border protection company frontex place and the special zone in africa will be strengthened as well in order to. deport refugees in safe areas. and of course we've also looked at the whole question of border control is because of public and turning away people at the border. common instruments we agreed entirely with the fact that it's turning away as rights asylum seekers at the

the the reflex position of european leaders which is to say that we need to european solution to this problem is precisely wrong it is precisely the fact that we have a european union with a borderless internal space the showing an area which has caused the migration problem in the first place i first visited the song at camp near cali in the late one nine hundred ninety s. the migration crisis that we're talking about now didn't start in two thousand and fifteen it started in the one nine hundred ninety s. when italy joined the schengen zone and from that moment onwards the borders of the mediterranean were on the english channel. yeah and it's there is a direct relation of cause and effect and what we saw in two thousand and sixteen after hungary and creation and the other countries built fences to close off the balkan route is that national solutions are the ones that solve this problem not european ones and we are now i hope seeing the same result with the italians who are taking matters into their own hands nationally defending their national territory and it's only by doing that

percent on aluminum the european reaction is clear. it is unfortunate because this is further weakening the transatlantic relations and it also increases the risk of severe turbulence is in the markets globally protectionism can never be a solution and this will hurt jobs here in the european union but also in the u.s. the e.u. has launched an official complaint at the world trade organization. they want to introduce countermeasures like tariffs on u.s. products for example bourbon whiskey motorcycles and jeans worth some two point eight billion euros e.u. member states are meeting next week to decide on the exact list many economists agree with the measure europe as a very big economy and a very important market for u.s. products has a lot of influence that's why it's right to show the u.s. that they can't just do whatever they want the e.u. must use countermeasures to steer the process in the right direction. but it's those who are affected most who are speaking out against new e.u. tariffs on u.s. products or taking other measures t

ns within the european union and this need for case. has the final word within the structure of the e.u. it's the european council it has the final decision making powers to seem to the heads of government to the not so nice thoughts of the heads of state governments of the member states see and that's the contradiction common european policy has developed and decided on by the leaders of nation states review. we've got to get away from that if we want to see a european republic. most of the officials in the european commission are highly qualified they speak several languages they studied to top universities and they came to brussels out of idealism because they want to work on the european project who really are very qualified and they come up with sensible policies that come as i'm going to they're blocked by the heads of state and their national self-interest this bright us and the european council to say officials draft intelligent policies commission insiders call these draft sacrificial offerings because when they were sent to th

we have already been raised with european partners whether the european council in june should look not to the sanctions in relation to the crime era -- crimea and other agreements. there are some issues arising in relation to crimea where we should be looking for for the sanctions on. >> the government impact assessment confirms even the biggest and boldest trade deals only 0.1u.s. would add and 0.3 gpa to our economy. have these figures been revisited since the g7 and implementation of tariffs and how far does the government believe a free trade deal with the u.s. will go towards offsetting the 2% and a pretend -- 8% loss that he might have with you in the future. ms. may: if we are intending to already arend we negotiating about the trade deal is good for us here in the u.k., i think it will also be good for the european union. toch ensures we are able continue to trade well with the european union. we talk about a trade deal with america or any country around the world replacing the ability to trade on a good basis with the european union. it is in addition to trade on the good basi

use the european union losing its grip . on. delancey let me pass that question right on to you coupled with coming back to what you said earlier you see a potential for divisions particularly even within between france and germany if this trade war or trade conflict does heat up so perhaps you can say something about that as well i see two scenarios one is trumps over all actions are playing into the hands of the populous in europe it could serve to energize them which would further divide the european union and you know protectionism which is what donald trump is pursuing right now is something that would also be pursued by the populace into for countries that kind of feeds into that but at the same time you also see people coming together so the question is going to be you know france and germany are playing basically one role right now in rushing up the pressure on the united states but which of these will prevail in the end that it's too soon to tell laura daniels donald trump as we said sees himself as a deal maker in the

that europeans have outsmarted us. we are paying for their defense and they get two months vacation and we get one week. so speak to that resentment, because it will help us viewers millions of people felt that way and voted for trump. it was not that the soviet union was gone. it was resentment, not independence. ambassador araud: i share your view 100%. am convinced when people say that a large part of the americs approve the imposed tariffs. to try to understand the .mericans when i travel the country, nobody is talking about president trump's. -- president trump. everybody is talking about the economic euphoria. the economic situation is really great. suddenly you realize that the front page of the washington post that you are reading every morning, most of the americans don't care. so i am aware of the system. after the end of the mandates from president trump, i do not think that the transatlantic relationship will come back to a normalcy. it is easy to impose tariffs, it is difficult to leave them. because you t

germany's foreign minister has called on the european union to become more independent and to prepare countermeasures for when the united states crosses red lines it is the latest sign that germany seventy year old alliance with the u.s. is no longer unconditional listen into what he said donald trump. politics america first. donald trump egotistical policy of america first russia's attacks on international law and state sovereignty and the expansion of the china and china to the global order that we knew and the one that we have got used to and maybe grown a little comfortable with it does not exist anymore. long term reliable partners are crumbling into new crises and decades old alliances are being questioned a tweet at a time. let's get more now on that statement from germany's foreign minister heiko moss we're joined here in the studio by our chief political correspondent melinda crane welcome to you melinda what exactly does he mean here is the transatlantic alliance of course one of the world's strongest alliances not strong enough to withstand some tweets from donald trump wel

and the cpu has a strong european tradition. a strong european tradition. makes sense strong european members will stick to what they have agreed. you mention a strong transition team. what about members like hungry and poland? will they stick to these quotas they have been assigned? problem of a sanctioning. figures are circulating how much each country should take. this is not implemented to some extent. the e.u. is working on this. ther eis ongoing work. it depends on if the glass is half full or half empty. has been promising a european solution and on that symbolism, she has brought back something. matt: urika, thank you. we are talking about the deal that was struck in brussels and how that will affect negotiations in berlin. let's look at the stock of the hour. we have chosen fiat-chrysler. it is doing quite well in today's session. , and i will report say those reports are not from , the "asia-times" is reporting hyundai interest in fiat chrysler. and -- theyto try are going to try and deal with this carmaker after making it much bigger. there was a

deal on migration the french president emanuel not prong is hailing the agreement as a victory for european cooperation but will it be enough to diffuse angela merkel's crisis at home and what will it mean for the migrants themselves. also coming up a deadly attack on journalists in the united states a gunman kills five people at a maryland newspaper police have the suspect in custody and say that the attack was targeted and is no more second chances we are down to the final sixteen at the football world cup in russia belgium beat england to take the top spot in the street and we'll bring you all the highlights of that match and talk about all the world cup news that have either of you sports team oh. i'm sorry kelly welcome to the program. diplomats describe the talks as tense and tortured but after working through the night a leaders say that they have reached a deal on migration italy had threatened to veto an earlier statement but now says that it feels demands have been met and the german chancellor angela merkel also called the agreement a positive signal but she conceded that a lot o

you talk about european union. migration is certainly an issue where all you see is european disunity. if you go back to 2015, eu countries couldn't fast enough slam the doors on each other to stop those migrants coming into their country. now, again, you see the countries bickering in amongst each other. what i would say tojulia there, as regards to people who want to leave the eu, this is an issue that tears the eu apart, but when you ask, at the moment, opinion polls in most of the eu, it's not that people want to leave the european union, but they want it reformed, they want it massively reformed, and migration is front and centre in one of the top priority lists. right. well, listen, that's very interesting, isn't it, in terms of whether it has provoked anti—eu sentiment, which it clearly has, to some extent, but not so much that people are saying, "we want out." do you agree with that? it's fuelled parties that are more eurosceptic. so if you look at the md in germany, if you look at the freedom party in au

. >> european stocks chase u.s. markets higher after the dow reclaims the 25,000 level but the ftse is delayed with it set to open now. >>> retaliation time the eu vows to launch tariffs against the u.s. in july as larry kudlow says that president trump is not solely responsible for rising tensions. >> don't blame trump blame the nations that have broken away from those conditions very important point all right? trump's trying to fix this broken system. >>> and the shares fall as the drink maker's flat dividends disappoints investors although cognac sales help. >>> warren buffett and jamie dimon are teaming up in a tv first, our u.s. colleagues will speak to the sage of omaha and jamie at 12:00 p.m >>> good morning, again. welcome to "street signs." we were just talking about the delayed open of the ftse 100 you can see it's just opening up behind me about 40 points higher, about 0.5% roughly we have got a bunch of stocks going -- so that's taking off about ten points from the overall composite. but as you can see,

and european union leaders in brussels have wrapped up an emergency summit on migration without any concrete decisions chancellor angela merkel says there is good will toward finding ways to stem the flow of migrants to europe. and the goals just cape cup kept coming in sunday's world's a cop action. after england seven goal thriller colombia following suit the south americans hit the street past poland knocking the european side out of the competition and boosting their own hopes of reaching the knockout stages of the tournament. i'm sorry kelly welcome to the program thank you so much for joining us. we begin in turkey where after sunday's presidential election wretched tayyip arawak has consolidated and extended his power let's have a closer look at those results now because we know that he is headed for another five year term as president turkey's state news agency puts heir to one at just under fifty three percent his main challenger into of the secular c.h.p. the republican people's party received around thirty one percent of the vote while sela had seen demo tosh of the pro critters h

the european challenges require european solutions. other countries will challenge them by building fences. i support the former approach. movingwhite house is forward with plans to limit chinese investments, and has decided against invoking a rarely used law. president trump, embraced stronger scrutiny of intellectual property rights. advisertop economic later said china's responses to u.s. trade demands have so far been not satisfactory and the in ministration is not retreating. moneyeen is making more from the uk's offshore industries. the crown has said the company that generates income for queen elizabeth reported a 32% increase in earnings from clean energy technology. the u.k. has more turbines in the sea than any other nation, and install an average of one new machine every day. has broughte crown least 29million -- at million pounds to the treasury, some of which is used to maintain the balance -- palace. and the number one fee for rate team at germany has been knocked out of the world cup. a defeat at the hands of south korea

the end they went along with iraq it is this a turning point here because i don't i hear this from europeans all the time but it never nothing changes you know it is but my point of view is that it's very dangerous for europe because if we continue in a disease first we go against our interests which is bad for our companies of europe and companies are he is about forward population that is about for europe because some countries you know eat an easy example we can go out of this agreement generally in europe so europe can explode when they if we not so it is public i seems a president michel as an historic or opportunity you know is the goal is to a deuced this book to say stop the constant let me go to you because i think it's really interesting and when we look at a greater eurasia political economic and trade space is this a duplications of western institutions that were put into place after the second world war i think of the i.m.f. bretton woods and these kinds of institutions are there's a there's a interesting. literature about the world beyond the west or parallel to the west is thi

and the european union, that the european union is not being flexible enough, that was the criticism. nothing has changed. we are not expecting any announcements today. staying up late for us, really appreciate that, maria. head of fxnow is the commodities and rates at j.p. morgan private bank. good to see you. i want to take you to a chart showing the migration fear index. what this tracks is the amount of times the world migration and fear appear in newspapers. it measures that across all articles and shows this has steepened more in germany than france. when you look at how you react to this from an investment perspective, is this going to be expressed in the euro or the bond markets as well? mainly in the fx markets first. that is through the political risk premium we have seen added into the euro. if you think about what we have had over the last few weeks, we had the italian elections, which saw political risk being added back into the eurozone. we saw a resolution, that came out of the price. rallied, and that is the back of the markets overseeing. if we get a resolution, does

european union cannot. react to that we've called that you kind of reaction so really you need to introduce a set of a dispute. on the on the w t o level untrue the knowledge in this covering horse called the by the similar measures the e.u. countries impart duties on u.s. products such as motorcycles bourbon cranberries and oranges mexico is also contemplating counter-measures. well today germany's chancellor called the trump illegal and the american also warning that the terrorists could touch off a spiral of retaliatory moves leading to a global trade war german economics minister peter auld wired called the american decision wrong and harmful to both the u.s. and europe he said e.u. countries would take appropriate action and he did not rule out counter measures germany's foreign minister i call moss also criticised drugs decision. this thing and i call it off america the right answer to america first is you know european ited this didn't catch us by surprise at the same time we don't think it makes sen

many europeans obviously were surprised and worried about trump's victory, but many europeans decided that they needed, obviously, to work with the president of the united states, the most powerful leader in the whole world. and many over the last 18 months have done as much as they can to accommodate the president's policies, to put on a charm offensive. i think of prime minister trudeau, i think of president macron and many others who have done that, but it seems that it doesn't matter. the president will nonetheless roll over allies, not to mention adversaries, but certainly allies, and it's been stated you and europe actually have to engage in this battle now in case the international rules of the road are simply replaced by raw power. do you ascribe to that? >> yes. we do. and it is obvious that we want to engage with the u.s. it is what the american people, for them to choose their president and we have full respect of that, and whoever sits in the white house is a person who we want to work with. eu -- the european union, europe as a whole and the united states we are friends.

want to have a european. agency that works in harmony where all member states are we have also strengthened our determination to be strengthening solidarity and responsibility within the european union or with the registration of the arriving and also a quick examination of the asylum request and also a firm stance on those who have a not received any right to stay and we want to discuss this in concrete terms at the coming european cars. summit the one to review of the dublin regulation which is also a project on which we have common view was. far as this issue is concerned meaning need to certainly have more sovereignty we need to have more capacity to protect our common border lines but we need also a mechanism of solidarity outside our borders and also inside our borders and that's what i mean this is exactly the same philosophy that has a perforated of our discussions when it comes to economy looking at the euro zone economy well what's missing is solid dairy and. we are pushed around by the decisions bu

also be taught to recognize the european flag and the anthem the ode to joy. it's a national movement to have it we need to learn our previous we have to sing is a must say yes' but the nasa has a need there is no need to know anything about the so-called european on scene you know that's probably is a mr mark or smith owed to give you something or lead but our viewers around it forces you to accept something else in your ear when you're not call friends is too small for him is a citizen of the world. a big fan of globalism it's a big mistake and it's a very old fish and i didn't. mean with time where it was shia in the united states in italia in slovenia in austria in sweden france now shown a national id is back when i was down to the last sixteen of the world cup for updates on the tournament after this short break to stay with us. you know world of big partisan movie lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bac

hopes to be elected one day to the european parliament well while we have you. listening to donald tusk just then what do you see as the biggest difficult tasks that remain unresolved since there's been no progress on breaks at a summit and has been progress for months because the main outstanding issues that we knew about six months ago or twelve months ago still unresolved the biggest of those is the irish border issue no one knows how to for the brits to bret's it and keep the irish border open there are also outstanding issues to do with contributions to the you budget and citizens' rights so essentially you could pose that question the other way around essentially saying actually have we made any progress towards a breakthrough deal at all and actually in the last few months we've not moved on in what in any of the significant areas and the e.u. i think is as a great p.r. job here of standing around saying and pretending to all appearing giving the appearance of being open honest and waiting for britain to just sort itself out but there are there are two pa

summit was crucial for german chancellor i'm going to back all she needed a viable european solution to the migration issue to head off a revolt in her own coalition government the chancellor has been under pressure from interior minister jose hoffa of the conservative varian c.s.u. he threatened to defy her and introduce border controls in germany if she didn't get a deal at the european level the c.s.u. has given chancellor merkel until this weekend to secure such a do. is given from political correspondent report to read about welcome rupert so is this summit enough to save america. well at least anglo-american health thinks that she has reason to be optimistic and so far what we have heard from her conservative bloc of c.d.u. and sees you these two parties which have been so much at odds during the last two weeks she's quite rightly to do so. both parties seem to have chosen to pick whatever they need to most of the sees you the strong critics of anglo markel say that only the pressure that they have applied to the chancellor and to the government has made this outcome possible t