i think europe and. you know something that can still get there and keep us together along with being here in each other what centuries and now we have a you know we have common programs we have a common politics 25 year old friedrich continues his european journey in an easterly direction. to trist from 6 just 6. is on route to slovenia one of the e.u.'s newest member states it was once part of the communist yugoslavia. as the train heads for the italian slovenian border he makes friends with a reason man ferrari who comes from the region. of my family tells me stories about when. there was a. there were differences may vary from st e s. . day people in europe can again travel freely. if you've been to slovenia yet but. after 3 hours the train reaches the mediterranean city and soon arrives at the slovenian border. there's no border guard in sight just a train conductor. for over 11 years this is been an open border. it's really interesting when people talk about the past it's incredible freedom to just

europe is growing in terms of before thegs since financial crisis have hardly grown in europe as they have expanded rapidly in the u.s. that reflects the different growth rate, different topline growth, margin growth, sector exposure with the u.s. with lots of technology companies. europe with lots of banks, companies like the autos which we discussed before. i don't think there is a huge gap between the u.s. and europe. it is literally a difference in earnings growth and sector. anna: nice segue into our next conversation around growth. sharon bell goldman sachs managing director european equity stategy. when we come back, we will talk more about the growth story in europe. french growth, underperforming. gdp numbers this morning came in below estimates. could this be the first european data disappointment of the week? should we prepare for more? this is bloomberg. ♪ matt: welcome back to "bloomberg markets: the european open." 20 minutes into the session and a mixed trade with gains in london and losses on the continent in terms of equity indexes. french economic growth came in we

so could we say that europe is actually polarizing itself. i am fly cattle railways and experience economy class like never before qatar airways going places together. he lived in brazil's largest favela. one day the police came for. like thousands of others he disappeared. witness follows a family's epic struggle for justice which became a national cause and sent shock waves through the upper echelons of the political establishment in the shadow of the hill on al-jazeera. i also see arrivals the opportunity to understand a very different way where there before it happens you don't leave out. bang. bang. peter over here in doha the top stories from al jazeera china's foreign ministry is demanding the united states immediately cancels a potential sale of arms to taiwan the u.s. state department approve the deal worth more than 2000000000 dollars doesn't accept taiwan's independence and argues it's a breakaway province if i don't have the u.s. selling of arms to taiwan is a serious violation of international law and the norms of international r

the europe has experienced an increase in the popularity of right wing groups in recent years much of their rhetoric is based around national populism and attacks on migrants and muslims and they've gained more ground with the rise of far right political parties in european parliament's right wing movements have held protests against immigration and slam in several parts of europe and violent attacks have been carried out by far right activists including near nazis and white supremacists germany's domestic intelligence agency the b f v says there are more than 24000 far right extremists in the country and believes almost half are potentially violent in france 10 people suspected of planning attacks on mosques muslim leaders and women wearing veils were arrested last year and in the u.k. the european union's law enforcement agency europol says 5 right wing terror plots were recorded in 2017. let's bring in our guest now to talk more about this in pescado italy via skype we have italian journalist stephano veggie in lisbon we have michelle believe it is the chair at the center for resea

particularly in europe. jonathan: still with us are lisa hornby, gershon distenfeld, and noelle corum. this relentless rally in europe on the periphery and in credit. what is your exposure right now and how are you managing it? noelle: we like europe right now, not only is there value still left in asset prices, but you could also make money on the hedge, when you hedge it back from the euro to the dollar. we like investment grade a in europe a little bit at the , periphery. for right now, staying away from italy. jonathan: look at the nominal yield that you pick up in italy. 50 basis points. fewer than 50 basis points on investment grade in europe. is that sustainable? gershon: the fed has not cut yet. it is still 300 basis points. so to the u.s. investor it looks , good. the economy is weaker, but remember, what causes problems is not just economic weakness, it is leverage. on average, european companies have less leverage on the balance sheets than their u.s. companies. jonathan: that is a really interest

and historic day for europe because of her the german conservative politician ursula from the line has been elected president of the european commission the 1st woman to hold the european union's top job and she wasn't the 1st or 2nd choice among europe's leaders her win tonight suggests that in european politics the 3rd time can be a chore i bring in berlin this is the day. and you'll follow the chops to place to meet. the trust you placed in me. confidence you placed in europe will also have underlined is a christian democrat she's a genuine european. you know she didn't have her do a good job and germany and why should i expect that she will do a good job vs the commissions present the higher european politics our domestic politics. so. it was a lot of fun to line his clothes jobs in germany about harriet ministration of the office and the defense ministry she wants to build a centralized undemocratic update seems full of communism. and coming up later tonight we take you to the launch pad where 50 years ago today she man of these greatest journey began. to. walk upright. army. on t

know because possibly europe smokes in a full the arctic. and the turk largest in the hungary and parliament would be sure . to let us know when you meet the little one that i was there many people you are going to going to say something about me when i was there that talk i got actually settled which was a lot going to look at me. so was it i'm going to get you any. the uk or something new. and like most of europe so far right alongside their intolerance of foreigners france promises of economic protection. after 26 years of transition from communism hungary remains one of the poorest countries of the e.u. . there are still nearly 1000000 people living in homes without electricity and heating. in your books young leader goblet of war no nor stammering. so that we are one and only one woman i could ask one or 2 for you are on the critical shell of a plea because a ship has a lot of locals actually cause more than you got to shag she got a leash for sure any. time you got the to get your mouth but i'm going to be nice to get some out of my do

focus on europe on t.w. . 6 1st day in school. the 1st climbing lesson of the doors grandma with her arrives in the joy in your ranting on her journey back to freedom. in our interactive documentary during an orangutan returns home on t w dot com a tank. coupe. welcome to the girl max you tube channel. a goldmine of stood. with exclusives. must see concerning 4 times culture in europe. a place to be full curious minds. do it yourself networkers. so subscribe don't miss out. frank food. international gateway to the best connections self road and trail. located in the heart of europe you are connected to the whole world. experience outstanding shopping and dining offers and try our services. biala guest transfer. managed by from. this is g.w. news live from berlin tonight history in the making as the european union gets a new commission president a madam president the european parliament elects the german conservative politician ursula from the alliance making her the 1st woman to hold europe's top job she says fighting climate chan

i europe, it was 52%. i have a problem. lam europe, it was 52%. i have a problem. i am conflicted about the notion that the country has spoken, therefore the politicians have to do... 48% need to be conciliated. there is a deep divide in britain, and continuation of the negotiations might, in the end, mean and the end there will have to be a public vote. i would be all in favour of it. what iam i would be all in favour of it. what i am getting at is, what it the rest of europe feel about the desirability of such a public vote, oi’ desirability of such a public vote, or more, you know, of the kinds of considerations thatjeff is talking about? or is there so much impatience in europe know that they would say october the 31st is it? there is impatience but a great deal of sadness, in berlin in particular, which was always sworn by the closeness with britain which was our most important allies in the debate on free trade and protectionism and so on free trade and protectionism and so forth. we would not mind if britain were to consider, reconsider its decision. europ

fortunately, one of the upsides in europe is valuations are -- the earnings growth gap between europe and the u.s. has narrowed. the negative spin is it has narrowed because the u.s. this slowing rather than the eu is accelerating. the opportunity in europe is while europe is probably a lower quality market than the u.s., there are some attractive companies that stock pickers can identify. many of these companies are trading on significantly lower valuation multiples. nejra: have you fallen into the draw that some have had towards the bond properties in europe or are you being even more selective than that? marcus: i can see the attraction to that, particular when investors struggle to get a return in the fixed income market in europe. if you look at the top three performing sectors in europe over the past year, it is many of those. the health care sector, insurance sector and consumer staples. the challenge for us is most of that has been driven by multiple rewriting. it off theave taken table and look to harvest that yield. at a time when people are relatively cautious on the wider

so could we say that europe is actually polarizing itself. the term pre-crime comes from this movie minority report in which a prediction is being made about something an individual has not yet done but is going to do and a preemptive arrest is made of someone before they perform that act if you would have asked me 37 years ago if we would have gunshot detection or video cameras in neighborhoods or be able to predict what crimes occur i would have said you're crazy pre-crime coming soon on al-jazeera every weekly nice cycle brings a series of breaking stories join the listening post as we tend the cameras on the media and focus on how they were caught on the stories that matter the most on al-jazeera. he lived in brazil's largest favela. one day the police came for. like thousands of others he disappeared. witness follows a family's epic struggle for justice which became a national cause and sent shock waves through the upper echelons of the political establishment in the shadow of the hill on al-jazeera. i'm come out on summary with another

teletext awaking all across europe. means white person that that's why i said we are meeting was to protest the european identity the european roots for example the european culture detail and culture but it is you that is giving to this identity and project the. arrest of the blow up and that's not the meaning in any way that the league and our representatives are doing so we want to protect the cultural roots the christian roots of europe is not hard to work with you go around saying muslims equal threat was in a single thread over and over again that not only i'm a logger some people are going to react badly and some people are going to turn violent we want to treat the german germination they don't even the european union but we're talking about germany here we don't want to have that a muslim country we accept muslims there are lots of muslims who are well integrated into our society who take place no problem everything's fine but what we do not want to accept is that islam is starting to have an impact on our soci

your confidence in the united and a strong europe from east to west from south to north. as a german a woman and a close ally of angle a merkel on the line will be seen as an extension of the chancellor's dominant role in european politics she owes her career to merkel and like merkel she's a political conservative and a passionate supporter of european integration. but big spending promises designed to sway down to any peace are a departure and may prove hard to fulfill we must take bold steps to get mrs ford a lion is indebted for their support to opposing quarters from the socialists to the nationalists which means someone will have to be disappointed supporters in the heavyweight center right european peoples party bloc to which belongs brush those concerns aside she managed to get the support of $27.00 out of $28.00 heads of government in the european union so western europeans eastern europeans were supporting her representatives from a different political families and what she also managed to do is together with voters to bring france and germany closer back togeth

and europe. the economic trend is going to continue. for the central bank to maintain softer monetary policy than growth, modest inflation upside. we've obviously lower for longer monetary policy. emerging-market debt, credit, fixed income markets overall will continue to perform real or real -- continue to perform rather well. they are performing quite well your to date, and i believe it is the way to go for the second part of the year, without taking too bold a risk in equity markets. anna: all right, and what is your assessment of what has been driving up equity markets lately? some suggest the bond markets and equity markets are telling us a different thing, that equity markets are ignoring a global deterioration in the economy, whereas bond markets are acknowledging that and predicting worse to come. we look at equity markets, it is a very good question. one might wonder, what has driven this market your to date? this is a topic which is usually debated in industry as well. across seen outfl

and europe. i think this is clearly a stratagem on the iranian leadership part of both to get leverage over the europeans in the hope that they can find some way to soften the impact of u.s. sanctions on its economy but also as you said to draw a line and to create distance between the u.s. and its european allies in the hope that it would give it more leverage in any type of future international agreement it's very difficult to see how the europeans could do much more to address iranian economic concerns. standing up a separate international financial mechanism that would not have exposure to the u.s. economy and to u.s. sanctions is the undertaking of many months if not years and the cost of so doing would be quite substantial so it's difficult to see how the europeans can do much more than what they've already done in the form of this bartering mechanism known as an sticks and the drug administration says it wants new talks with iran is maximum pressure policy will continue we know that iran w

of peace of unity and a europe. because. so max i'll turn to you with that what would it mean for the european commission to have a woman at the helm because i mean gender has been a topic there in the e.u. hasn't. it would be a very strong signal obviously like for any other strong position where you have a woman in power and in the past the commission always struggled to have that gender balance so strong signal but also something that might help her get elected here because this is one of the most important topics to the leader of the social democratic political group here in parliament maybe one of the reasons why she gave her a standing ovation at the end of that speech and apart from that many in brussels and more so than in germany i got the feeling really think that it was a tough one a lot. as qualified for the job it's not just that she's a woman she actually knows what she's doing she speaks 3 languages very well she's always shown a very keen interest in european topics she is a very well known entity he

click here is a piece of asia europe. once again become aware of how big europe actually is and considering the buddhist tradition also all diversity. our report the hendrick valuing has already visited some very different and unique places around europe for this series you can find all of those adventurous on our you tube channel and its own playlist have a look. they say that too many cooks spoil the broth but at this open area bend in must say fronts that is not true because that's exactly what the organizers wanted to bring as many people as possible together for a gigantic open their cooking course and to prepare a dish together under the guidance of a star chef a cooking course in a huge 4 months. 1000 amateur chefs gathered in mar says' old town to take a cooking class with michelin star chef. levy he began with a recipe for a typical starter from france's province region oh is that it you know it's a tart teen with sardines and an olive top and not these are the 2 emblems of musée and profiles the sardine is embl

i want to stay with europe. that provingving there are still some bond bulls left in the market. >> the ecb is likely to deliver what they say they will deliver at the central meeting. in fact, maybe even more. haved as it may sound, we overr-term favor bund treasuries because we believe the ecb is more likely to deliver the full amount of priced in monetary policy easing. jonathan: the key line for many of you, as odd as it sounds, --bunds outperforming treasuries? matthew: we would take the opposite side of the trade. not to say that we are haters of bunds but our view is the fed is more likely to deliver than the ecb. mike: i would agree. the ecb cannot do much. difficult to get super excited at this point. kathy: i could see in the short run you see that outperform, depending on the duration, the steepening of the curve. over the long run, hard to see that. jonathan: what do you make of the quite selloff in the german bond market? 16, 70 basis points on the 10 year. mike, it has been so quiet, hardly anyone

so could we say that europe is actually polarizing itself. that the pages of this exercise book code unspeakable memory is compiled testimonies of victims of congolese mustn't. as this intimate evidence finds its way to international courts the central african republic is plunged into further tumult and intricate tanev of people and a nation crippled by recent history. afrikaans part 2 of a 2 part series on al-jazeera. i really felt liberated as a journalist was all about getting to the truth doesn't i would love for this job to. cover drug deals and 999 a boeing 767 took off from new york to cairo to my. point. where we don't know everything no one. survive the journey 20 years on al-jazeera world to revisit the case of the fatal egypt air crash flight 990 what really happened on al-jazeera. seen in doha the top stories on al-jazeera the un security council has called on libya's warring sides to commit to a cease fire it's also condemned the airstrikes that hit a migrant attention center near tripoli on choose day at least 60 people were kil

about migration an issue that has that has split europe that has dogged europe it has caused problems for you that's caused problems for many countries across europe what has the would be. the would be commission president said about her stance on how to tackle that issue. her strategy was twofold when the title was we knew we need a new new start on migration so that resonates well with everybody it doesn't really mean anything and that's why she has this 2 fold strategy 1st of all she said we need to rescue at sea so that was something that would alienate only the far right which obviously she doesn't care about and she also said she didn't care about those votes today in the european parliament so for very important to make sure people that try to cross the mediterranean and get into trouble are arrested and that's one part but the 2nd part and there she caters a more to the right and other influences in the european union when she says we need to also strengthen our border agency we need more people there we need to control the borders better and that's also consensus nowadays in

the practice and it's expected to trigger a host of legal challenges plus a blistering heat wave in europe and record high temperatures france experiences of all time highs for a 2nd straight day and to germany belgium and the netherlands sweltering as well. i'm sumi so misconducts good to have you with us we start with a tragedy in the mediterranean nearly a 150 refugees are feared to have drowned after their boat capsized off the coast of libya more than $135.00 people were rescued after the accident and returned to libya it's the worst shipwreck to take place in the mediterranean this year. these exhausted migrants have been sent back to libya from where they had set off for europe right next to the survivors are those who did not make it. this woman says she lost her 7 year old son in the boat accident she's grief stricken but also angry she says no one helped her and her family in libya oh my god they don't know how did anyone they sent me away and they told me and my children that we had to find our own way. i just want to go back to my home country of sudan to die but it is. illegit

for example europe, especially europe, to come to its aid. to stick to the nuclear agreement, you have to make our economy work. nejra: what bargaining power does the u.k. have here? philip said himself over the are sanctionshere already against iran, so it is not clear there are immediate additional things we can do but we of course are looking at all of the options. what are the options? riad: there are some options like they can put sanctions on specific individuals in iran. they can also ask allies to resume sanctions, to resume european and u.n. sanctions against iran, which is obviously not positive for iran. from the iranian press s2, that is not going to be a game changer, even if the u.k. does not put those measures in place yuan do notand the join the u.s. sanctions. at the end of the day, european companies are not willing to cross u.s. sanctions. they are not willing to do business with iran even if their governments say it is allowed to do business with iran, so for the iranians, i do not think this will be a big change to the di

that's the moment that europe is reaching. and so, we kind of thing that britain might be turned into this cauldron of intergovernmental relations and forget about this... one great irony of this, and it is reflected in the fact that if you thousand disproportionately elderly local members of the conservative party are determining who's going to be the next prime minister of this country, not a national election. the main consideration, i mean, or as is many things, he is not stupid. this locking oneself into the halloween deadline, saying if there's no deal there's no deal, is not about europe, it's not even about britain, it's about nigel farage. it's an internal conservative, brexit party... it is also an english problem, rather than a british problem. borisjohnson, to go back to what you're asking, imean, president micron six months ago had sort of coalesced four orfive eu members to say, ok, no more extension, we have had enough. but six months later, almost a year later, at the end of october, i think there will be many

to bring people over to europe safely. and have them that'd have them background checked and be humanitarian also in the size of migrants that we want to bring in not just saying we just shut it off in order. to you know drain of the the right wing rhetoric that's not what we should do i think this is also not the i am the solution to this restaurant because it is based on a threat perception rather than on reality in my opinion. i would come back to you mother i know you wanted to respond to that but let's just. take a brief look at the situation in the meditator mediterranean and particularly a look at just how dysfunctional the practice and there has become it was illustrated in the past few weeks. when we saw a crisis that essentially pitted the captain of a german refugee ship against italy's populist leader? it's elise interior minister matteo salvini nicknamed capitano. does this not to his love of the sea but to his strict policy on refugees. she only of the hunt is a real captain german refugee aid worker hello to

i've made my way to the south eastern most part of europe. yes an autonomous republic of the russian federation created between the caucasus and the. biggest buddhist temple in the countries in the capital it is time it is a nation's most important symbol. some 160000 buddhists live here coming just the only buddhist country in europe. or in part has been the spiritual leader of the comics in buddhists since 1902. buddhism is not just a religion it's a way of life and when i say a way of life it's part of one's culture with his him it's very important for people of color we did they are a believer in buddhism are not. this that lies just beyond the city travis once the ancestors of the comics the mongols did the nomadic people 1st arrived in the region in the 17th century actually it's not as comfortable as it may look like so i'm really glad that i can get of the camera for. at one point the camels were used for transporting new york. until the early 20th century whole families lived in these portable tents. or think if you pull out that the

within europe sporters that might yes but beyond europe's borders now because the european union it's complicated i've been in berlin since 2005 i followed berlin and there for a bit of brussels i saw now how it all works it is complicated in the united states of america nobody understands how it works it's just somebody gets elected and she was democratically elected there was a vote held she got the majority and she is now the president i think people are going to accept that whether europeans accept that because of the whole system we went through where she was agreed upon in this backroom deal as you were explaining it was all supposed to be transparent this time but they couldn't that transparency fell short it didn't give them a solution they needed a solution or so a friend of mine is known as being very pro-american washington. she devil a transatlantic sess and she always has been you know she lived in the united states for 4 years and because she lived there raising our kids there she knows society so she she doesn't view it just in the washington bubble but she she really v

we now passed through the suez canal to reach europe by the maritime route many cities in europe are vying to become the next gateway for the new silk road ma say in the south of france stands a good chance. we arrive at a village near the port a chinese village built out of containers on the edge of ma say. i. the ma say international fashion center is a center for textile wholesalers who deal in fashions made in asia. madame chong is a wholesaler who occupies one of the containers she sends her wares to shops across france while the country may be famous for. she's doing a booming business we've got a lot of that stuff. yesterday and real magician up maybe think today's made in china from the big companies to the luxor relabels it's all made there and sent here nothing's made in france and you know. we work hard and we're proud of that the entire world knows that the chinese are industrious and hard workers and our quality is improving all the time. if they still work the chinese aren't clock watches. europe is hungry for fashionable clothing at low prices china is thirsty for expe

will women's power drive europe forward. milan ursula funder lyon has been in brussels the last few days courting europe been members of the european parliament how does she do. i'm not in brussels i don't know but i think she is the biggest on suggests that she is building a program from thin air very fast she has a team behind her she needs to be a consensus to be confirmed next week interestingly enough she does have the backing of some of those eastern european leaders we've been talking about and also the populist leader in italy what does that tell us. she's more known and more positively known politician in sensors in europe than many others as a minister of defense she tried to forge a common line between the your nato. and basically i think position on germany in central eastern europe is more balanced than it was before i mean they are rather accept a german many of these leaders rather accept a german conservative candidate at the top job by the european commission than a socialist dutch person because there was a

and europe in the next month. we will see that we'll see just how complicated though is this whole trade getting france versus the u.s. the u.s. threatening the german concept of for example south korea japan while the u.s. wants everyone to join it's at the end of the day against china. you know this is a very important issue at the moment you know there is always a strong rhetoric coming from the u.s. in the person of donald trump but we have the world the traits trading system has changed we have global value chains companies can shift profits from one country to the other and then we have china as a very specific big global player with a state owned companies where competition is not really an issue so the europeans and the u.s. have to cooperate stronger in light of the state owned companies from china taxation is only one issue just to mention other issues like individual freedom security of data it is not very constructive sustainable if europe if the u.s. takes steps individually having china with a comple

i am really happy about it after all europe is a woman i think it was waiting. to come. we have proposed. the next president of the european commission. and christine you are the president of the robot. we have for. that sharlee show is the next president of the libyan council. and president of the euro summit. as well as nominated. as the candidate for high representative of the union for in the 1st and security policy. it will now be for there will be an palam and 2 calls from the lion for the commission president. if elected she will be the 1st woman to lead the european commission. shall michel will with his experience of better job prime minister be ideal for finding consensus and building community a monk member state. just a barua foreign minister and former president of the of the un parliament to be a strong representative from defender of the european union's interests and values in the world. christine lagarde to international background and standing current managing director of the international monetary fund be a perfect president of the your bills of about.

and search out some hope for europe's future. we don't want the states involved because this is a and momentum people in fact and had given and think to. hello again welcome back we're here cross the southwestern part of australia we are watching one fun a boundary that is on board right now pushing through perth and with it where we see some clouds rain as well as winds now once the system pushes through here on friday you could be seeing a change of air mass temp is going to be dropping as your daytime high only reaches to about 14 degrees we do expect to see some rain as well as the winds continue just to the south here but it is going to be better conditions as we go into the rest of the weekend that same frontal system is going to slowly make its way over here towards adelaide and for adelaide those clouds are going to be increasing as we go into the weekend the temperature though not too bad $1000.00 degrees is going to be a high with the winds coming out of the north and for melbourne we do expect to see a nice day for you

things are changing, the geography of politics in europe is changing andi geography of politics in europe is changing and i think it might be in an unexpected direction, so to speak. and as the change in the political landscape in europe continues, the pressure from the united states is increasing, isn't it? that is the other issue. we have seenin it? that is the other issue. we have seen in the past mr trump likes to strike first and then try to negotiate. this time he is doing the same. is that going to work with the european union? i am not sure. but it has worked with china and other countries. we will see. i am concerned because it looks like the timing is about october and october this year we have many other important events in europe. so it is a sort of quadruple witching hour, if you wish. we have the halloween brexit, the italian budget, we have the changes in the terms from the ecb and we also have sanctions from the us. it is going to be a very busy october. many people wonder about the lack of consensus, will that be a problem in dealing with the us? i think it is going to be

so could we say that europe is actually polarizing itself. on counting the cost $3.00 decades on the collapse of the soviet union russia easing gaging with africa to raise its political clout and we look at the economics behind said he's decision to buy the s. 400 and f. $35.00 stealth bomber counting the cost on i just you know. al jazeera. where ever you are. i'm victoria my childhood was not always easy my mother was suffering from c.v.r. depression through making this film i hope to understand my mother's mental illness and to find out if the conditions for the mentally ill have improved literally millions of people can be treated to receive no help no medications. we have a duty to change our attitudes. mental illness breaking the silence on al-jazeera. and richelle carey in doha with the headlines right now on al-jazeera at least 3 people have been killed in a car bombing in southern turkey the blast happened in the town of a harley that is close to the syrian border it's understood those killed were inside the vehicle at the time of th

so what has cause he's saying you're against europe. one question yes how do explain the rise of he'll keep on trying less and you'll become europe. i don't know how do you think smart how do you explain the rise of i must tell you how do you explain the rise of some reason you know how do you explain that it's a failing over opinion that once you turn yes on the side of. the people you are getting the growth of houses across the political spectrum the growth of rejectionism of this model because the model doesn't work that's not me so what do we have then i mean we have nation states because of nation states borders walls and there isn't this dangerous i don't know and democracy here but where is america say what is not here. so i'm going on a journey to understand how come the far right can claim to be the savings and democracy you'll. never be sold one we sold how europe is facilitating gets on colonisation privatisation the extraction of resources in secret trade deals like the t.t.p. . the nature of the agreements. it's a construct

welcome to "bloomberg daybreak: europe." straight to deutsche bank, they lost 3.2 billion euros in the second quarter. trading revenue dropped 12% in the second quarter. it underperformed its biggest u.s. rivals. the cfo spoke to bloomberg. >> we are very aware that outlook deteriorated during june. it does represent a revenue pressure for us and all of the banks if rates from here go down further. we are most exposed to euro and one of the things we are waiting to see is how the central banks go about easing if easing takes place. in europe, we are hoping and expecting some amount of depositeering taking place. if it gets moved down, the banking sector shielded from the negative rate environment, it is something that is a significant risk to us. it is something we are managing rev or can, whether around the balance sheet management, optimization steps to offset or implement pricing changes in our business, we need to react to the environment we see coming. >> have you adapted your models down? >> we have. we have been worki

and that was before over 1000000 refugees decided to walk the balkan route into europe. often all this is discussed as forces of nature beyond our control but there's a philosopher look for their old cause what if they can only call ups refugees and terrorism are actually all caused by something more fundamental. i'm going on a journey across europe in search of for the next the crazies tearing our continent apart. to saloniki norton greece if you just visited central square you'd never guess this small charming city is at the epicenter of europe's problems. in 2015 refugees fleeing war and poverty walked into europe sure the nearby village of edo mean. germany said they would accept serious but after more than a 1000000 people came europe panicked and sealed the border trip and also continued to come in for. greece finally cleared the domine camp in may 2015 citing sanitation and safety. but that's not the whole story. we're heading towards a new refugee camp for the refugees from the many who are more and we're going to meet most of their. most to face from aleppo and

maria: do you invest in europe? let's talk europe for a second. we had rick reeder on he said do not underestimate christine taking over at the ecb because she's a politician not economist patient no wiggle room. she will not be able to cut interest rates so what will she do? she will by european equities. would you by european equities? >> i would as an investor. evaluation is pretty good. if you look over the last several years, pretty long time period europe is gone pretty much nowhere as the u.s. has gone up. maria: the economy cannot grow there. >> the economy has been challenging for you look at global corporations based there, shell is a great example.you know in international oil companies a good valuation. but should the central bank by stocks is a different question. we are buying them because there are a great valuation. federal banks by things not for an economic outcome they are not buying bombs to make money thereby two affect the economy. that is the playbook and would caution folks to look at how did it work out in japan? are we re