Browse content similar to 16/09/2011. Check below for episodes and series from the same categories and more!
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Welcomes the World Business Report. The headlines: Finance ministers | :00:15. | :00:25. | |
:00:25. | :00:27. | ||
meet in Poland. Europe's debt problems are | :00:27. | :00:29. | |
discussed at the World Economic Forum. | :00:29. | :00:39. | |
:00:39. | :00:44. | ||
The battle over how to supply European Union of finance ministers | :00:44. | :00:48. | |
meet in a Polish city in a sign of how serious the situation has | :00:48. | :00:54. | |
become. The US treasury secretary will be joining them. It is thought | :00:54. | :00:58. | |
he will push them to expand the capability of Europe was back bail- | :00:58. | :01:04. | |
outs facility. It is not big enough to cope if one of the big economies, | :01:04. | :01:09. | |
like Italy, got into trouble. Finland is still demanding extra | :01:09. | :01:14. | |
guarantees for lending money to Greece. Some of the hes was taken | :01:14. | :01:19. | |
out of the crisis on of Thursday when five central banks offered | :01:19. | :01:28. | |
commercial banks a credit facility so they can borrow. I am joined by | :01:28. | :01:37. | |
a senior Economist. Until now, the politicians have been buying time. | :01:38. | :01:45. | |
Do you think the time has now run out? No. The alternatives for | :01:45. | :01:55. | |
buying time are hardly there. We will continue to see the ECB cannot | :01:55. | :02:02. | |
be the fire brigade in financial markets. Leaders have to get their | :02:02. | :02:11. | |
acts together. I would expect a sound commitment that's no country | :02:11. | :02:18. | |
will exit the eurozone. We saw the reactions by the five central banks | :02:18. | :02:22. | |
yesterday. They are in crisis mode. Is there anything else they can do | :02:22. | :02:32. | |
:02:32. | :02:33. | ||
to support the politicians? There is hardly anything left. They could | :02:33. | :02:42. | |
offer longer liquidity. This would be the only solution. The ECB could | :02:42. | :02:49. | |
cut interest rates. It will be hesitant to get everything out of | :02:49. | :02:53. | |
the closer to help politicians because they also wants to post | :02:53. | :03:01. | |
politicians to come up with clearer solutions. Even if the politicians | :03:01. | :03:06. | |
come up with a statement saying no country will be forced to exit the | :03:06. | :03:14. | |
eurozone, what other measures can they do? They have to bring the | :03:14. | :03:19. | |
national parliaments to agree to the decisions taken in July, to a | :03:19. | :03:26. | |
bigger rescue fund. Otherwise, it will not be enough to save Italy. | :03:26. | :03:31. | |
It would be premature to ask for a higher rescue funds when a national | :03:31. | :03:36. | |
parliaments are struggling to agree to the old one. They have to get | :03:36. | :03:42. | |
that through the parliaments. They also have to address the issue of | :03:42. | :03:49. | |
debt restructuring. Politicians could start to address the issue. | :03:49. | :03:54. | |
His debt restructuring necessary? It may not be necessary to get. If | :03:54. | :03:59. | |
you do not wants to move towards political union, debt restructuring | :03:59. | :04:07. | |
could be on the option menu down the road. Thank you for joining us. | :04:07. | :04:12. | |
Europe's problems are creating opportunities for some investors. | :04:12. | :04:21. | |
European assets look cheap in Asia. More than 1,000 business leaders | :04:21. | :04:25. | |
from around the world are gathered at the World Economic Forum in | :04:25. | :04:29. | |
China. There are lots of influential people that. Also the | :04:29. | :04:39. | |
main themes are emerging? The debt crisis in the West has been | :04:39. | :04:46. | |
dominating the talks here. It kicks off before the conference started. | :04:46. | :04:52. | |
Italy said it would approach China in help to stabilise the economy. | :04:52. | :05:00. | |
Wen Jiabao said China was happy to help. The central banks intervened. | :05:00. | :05:07. | |
The reception has been positive. They think this is a bank H on a | :05:07. | :05:12. | |
larger problem. So there is a crisis of confidence in the West. I | :05:12. | :05:17. | |
have spoken to fund managers who believe it is a good time to invest | :05:17. | :05:27. | |
:05:27. | :05:29. | ||
in Europe. It does seem there is an opportunity in crisis for the | :05:29. | :05:34. | |
investors here. There is talk of alternative reserve currencies, | :05:35. | :05:40. | |
something to replace the dollar? This came up in a number of | :05:40. | :05:48. | |
different talks. The US continues to depreciate and the euro, if it | :05:48. | :05:52. | |
had any conception of being the reserve currency, that has gone our | :05:52. | :05:56. | |
way. People are looking for what could be next. The Chinese currency | :05:56. | :06:02. | |
has been voted as a possible contender. Investors are also | :06:02. | :06:12. | |
:06:12. | :06:15. | ||
looking to commodities are like gold and silver as a store for well. | :06:15. | :06:23. | |
These are uncertain times. Thank you. | :06:23. | :06:27. | |
Russia's gas bomb will sign an energy deal with gas suppliers for | :06:27. | :06:31. | |
a new pipeline to Europe. It will run across the Black Sea to | :06:31. | :06:35. | |
southern and central Europe. Russia said it will be more reliable than | :06:35. | :06:40. | |
the current routes through the Ukraine. The yew is backing another | :06:40. | :06:49. | |
project. -- here you. In Windsor 2009, people have to use | :06:49. | :06:59. | |
:06:59. | :07:00. | ||
what for fuel because Russia shuts off the gas in the Balkans. | :07:00. | :07:05. | |
A quarter of all the gas EU countries used to fuel their | :07:05. | :07:10. | |
households and power stations comes from Russia. The reserves are | :07:10. | :07:15. | |
running low. It is feared within the next 20 years, half of all the | :07:15. | :07:21. | |
gas it needs will need to come from Russia. The search is on for rival | :07:21. | :07:27. | |
sources of gas supers of this Russian domination. This pipeline | :07:27. | :07:32. | |
and would go across the Black Sea, avoiding trouble with the Ukraine. | :07:32. | :07:39. | |
It was supplements aim different pipeline across Germany. But the EU | :07:39. | :07:43. | |
is backing a different pipeline which would not pass through Russia | :07:43. | :07:53. | |
:07:53. | :07:59. | ||
at all. It is logical to say we would have as a Bijan -- as a -- | :07:59. | :08:09. | |
enter the gas market. Several European gas suppliers have been | :08:09. | :08:15. | |
assigned on. It is hoped they will lobby the EU to show their support. | :08:15. | :08:23. | |
It is putting pressure on central Asian countries. Russia is | :08:23. | :08:29. | |
desperate to ensure that does not happen. That would provide an | :08:29. | :08:36. | |
impetus that would be unstoppable. Building both pipelines could be a | :08:36. | :08:42. | |
waste. Between them, they could hide 100 billion cubic metres of | :08:42. | :08:47. | |
gas a year. But it could be 20 years before the demand for gas in | :08:47. | :08:54. | |
Europe rises that high. Shares in the makers of the | :08:54. | :09:04. | |
:09:04. | :09:06. | ||
Blackberry Mac plunged. Research in motion is down 50% on last year. | :09:06. | :09:10. | |
Sales in at tablet computer as fell short of their forecasts. UBS may | :09:10. | :09:16. | |
have its credit downgraded after announcing it lost $2 billion due | :09:17. | :09:21. | |
to a rogue trader. Moody's save the credit rating is under review. | :09:21. | :09:25. | |
Kweku Adoboli was arrested on a Thursday under suspicion of fraud. | :09:25. | :09:31. | |
The Reserve Bank of India is discussing interest rates today. It | :09:31. | :09:37. | |
has raised interest rates 11 times in the last year. Inflation rose in | :09:37. | :09:39. | |
August and his posting an annual rate of 10%. | :09:39. | :09:46. | |
Now a look at the markets. Asian markets are reacting to the news of | :09:46. | :09:56. | |
:09:56. | :10:06. | ||
the central banks providing that The General Medical Council is | :10:06. | :10:10. | |
worried some overseas doctors coming to the NHS with the no | :10:10. | :10:14. | |
preparation for working in the UK. It is proposing a basic | :10:14. | :10:19. | |
introduction programme for any doctors so they understand the | :10:19. | :10:24. | |
professional standards expected. A more than one third of doctors in | :10:24. | :10:31. | |
the UK qualified abroad. The GMC says the health service has relied | :10:31. | :10:38. | |
on the dedication of these foreign workers. The report says last year | :10:38. | :10:43. | |
there were 240,000 doctors on the medical register. 150,000 qualified | :10:43. | :10:50. | |
in the UK. 90,000 did their initial training overseas, a quarter in the | :10:50. | :10:56. | |
EU. The GMC says many overseas doctors have troubles adapting to a | :10:56. | :11:01. | |
different professional environment. Confidentiality and how you handle | :11:01. | :11:06. | |
that... How you deal with patients who expects you to explain why you | :11:06. | :11:11. | |
are doing and to share decisions Bock and they may find there are | :11:11. | :11:18. | |
different sorts of drugs they are not familiar with. The unlawful | :11:18. | :11:23. | |
killing of this man, David Gray, highlighted concerns over the | :11:23. | :11:31. | |
competence of some foreign doctors. He was given a lethal overdose by a | :11:31. | :11:41. | |
:11:41. | :11:44. | ||
German doctor on his first NHS shift. Doctors' representatives | :11:44. | :11:54. | |
:11:54. | :11:54. | ||
have welcomed the report. Still ahead: Breakfast News and we | :11:54. | :11:59. | |
will be in the Swansea Valley where the race continues to rescue four | :11:59. | :12:09. | |
:12:09. | :12:17. | ||
The headlines: four miners has spent the night trapped inside a | :12:17. | :12:21. | |
colliery in Wales. They are 90 metres underground at the Gleision | :12:21. | :12:26. | |
Colliery near Swansea. A retaining wall gave way on Thursday, flooding | :12:26. | :12:32. | |
a tunnel. Divers have been trying to get into | :12:32. | :12:37. | |
the mine into the waters to see if they can the man. They have only | :12:37. | :12:42. | |
been able to get 30 metres in. They have been concentrating instead on | :12:43. | :12:48. | |
pumping as much of the water out as they possibly can. | :12:48. | :12:54. | |
There has been a positive response from markets to the information of | :12:54. | :12:58. | |
five the leading central banks to contain the debt crisis. EU finance | :12:58. | :13:04. | |
ministers are meeting in Poland. The woman to become the first | :13:04. | :13:09. | |
female Prime Minister in Denmark has claimed victory. A centre-left | :13:09. | :13:13. | |
coalition will take power after a decade in opposition. | :13:13. | :13:16. | |
If more than 5 million people have been affected by flooding in | :13:16. | :13:21. | |
southern Pakistan. 200 people have died and many more have been left | :13:21. | :13:24. | |
homeless. The region is still trying to recover from last year's | :13:24. | :13:34. | |
:13:34. | :13:38. |