Browse content similar to 19/10/2011. Check below for episodes and series from the same categories and more!
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violent student protests. -- Chile. We now bring you the latest | :00:05. | :00:15. | |
:00:15. | :00:20. | ||
financial news with World Business report. Hello and welcome. The | :00:20. | :00:25. | |
headlines: another day of strikes increase. Banks warned they want to | :00:25. | :00:32. | |
see more sacrifice before writing off her that debt. A new union is | :00:32. | :00:38. | |
forged. Russia and ex-Soviet nations signed an historic trade | :00:38. | :00:46. | |
pact. Another day and another protest against government cuts in | :00:46. | :00:54. | |
Greece. Public-sector workers are staging a general strike today. | :00:54. | :00:59. | |
Athens is caught between opposition to austerity and impatience from | :00:59. | :01:04. | |
overseas creditors. Greece's future as part of the eurozone looks | :01:04. | :01:10. | |
uncertain. How would greet business protest -- coat with a return to | :01:10. | :01:20. | |
:01:20. | :01:21. | ||
the trapped Mark? It has been run by the same family for 70 years. -- | :01:21. | :01:30. | |
drachma. The country makes too little itself and often exports are | :01:30. | :01:39. | |
only will materials. Because it gets all its material, honey, from | :01:39. | :01:44. | |
beekeepers you would think this company would be self-contained and | :01:44. | :01:49. | |
would benefit from dropping the euro and adopting a devalued | :01:49. | :01:54. | |
drachma to boost its expert -- exports. But the family who run | :01:54. | :01:59. | |
this company say they do not want to return to the drachma. We always | :01:59. | :02:09. | |
:02:09. | :02:10. | ||
had problems with drachma. The currency went down. For example you | :02:10. | :02:16. | |
would build with a great product but import packaging and pay higher | :02:16. | :02:23. | |
costs. We want to stay with the euro. We want to leave with a | :02:23. | :02:29. | |
stable currency. The company's bosses are enraged by suggestions | :02:29. | :02:35. | |
Greeks are lazy. They say private companies work hard and pay for the | :02:35. | :02:43. | |
country's civil servants. They are fed up with bureaucracy's. To send | :02:43. | :02:47. | |
out product from Athens to an island is more expensive than | :02:47. | :02:53. | |
sending it to Italy. This did not help us to become competitive. We | :02:53. | :02:58. | |
need the free market. If we are in the free market Greek companies can | :02:58. | :03:05. | |
work miracles. The message is clear enough. They have become stronger | :03:05. | :03:13. | |
since Greece adopted the euro. They sell on quality, not price. Greece | :03:13. | :03:17. | |
hopes to get another 8 billion euros from lenders in the next few | :03:17. | :03:22. | |
days but few now believe that will be enough to enable Greece to repay | :03:22. | :03:27. | |
his debts. The head of German Banks says lenders would be reluctant to | :03:27. | :03:33. | |
write off more than the agreed 21 % of Greek debt. The head of the | :03:33. | :03:38. | |
Association of German Banks said he would not consider a bigger haircut | :03:38. | :03:44. | |
without seeing fundamental reform. Always the private investors have | :03:44. | :03:49. | |
said they are willing to accept a 21 % haircut. This is a significant | :03:49. | :03:55. | |
step that will help Greece to come forward and solve their problems. | :03:55. | :04:01. | |
This should be fixed now. This is not yet fixed. This will help | :04:01. | :04:08. | |
Greece to develop in a better way. But it is very important that | :04:08. | :04:13. | |
capital markets, investors, have a minimum of trust in the States and | :04:13. | :04:19. | |
bags. This is not increased when you always increase the amount of | :04:19. | :04:23. | |
haircut which you want to get from private investors. A short distance | :04:23. | :04:30. | |
from here, the Reichstag, angry people a cant. They are very angry | :04:30. | :04:34. | |
at banks. If they heard you say you are not the problem they would get | :04:35. | :04:40. | |
angrier. We have to explain that to the people. We understand they are | :04:40. | :04:44. | |
angry and concerned and do not understand what is going on because | :04:44. | :04:49. | |
this is a very complicated issue. We must make clear that this is not | :04:49. | :04:55. | |
a banking crisis. This is a crisis of trust in the state. We have to | :04:55. | :05:00. | |
make clear to the public that the financing of the welfare state in | :05:00. | :05:10. | |
the past by taking more public debt, this is over. Greece is not alone | :05:10. | :05:17. | |
in its failure to find a credible solution to its huge debt. Moody's | :05:17. | :05:24. | |
followed standard and Poor's and downgraded Spain's credit rating by | :05:24. | :05:30. | |
two notches. They say the banks owed too much to foreign creditors. | :05:30. | :05:34. | |
The downgrade will make it more expensive for Spain to repay its | :05:34. | :05:41. | |
debt. Those problems in the European Union have not deterred | :05:41. | :05:46. | |
their eastern neighbours. Vladimir Putin has outlined a vision to | :05:46. | :05:54. | |
create an Eurasian Union. Earlier this month, a former Soviet nations | :05:54. | :06:01. | |
Russia, Moldova, Ukraine and others signed an historic trade pact. But | :06:01. | :06:08. | |
the free energy which states of Azerbaijan, Turkmenistan and was | :06:08. | :06:16. | |
back a star and have yet to join the customs union. An expert joins | :06:16. | :06:21. | |
us from Armenia one of the signature nations. This is the | :06:21. | :06:26. | |
grand plan of Russian Prime Minister Vladimir Putin? How will | :06:26. | :06:36. | |
:06:36. | :06:39. | ||
it work? It EC's grand plan and as he revealed earlier heearlier he as | :06:39. | :06:47. | |
an economic union first of all. He allayed concerns that this has | :06:47. | :06:54. | |
anything to do with recreating the Soviet Union. He sees this as first | :06:54. | :06:58. | |
of all an economic, NO-SPACE where there will be free movement of | :06:58. | :07:06. | |
goods and capital as well as Labour. But there is also a political | :07:06. | :07:12. | |
agenda. Let's talk about what he wants to achieve. It is a huge idea. | :07:12. | :07:21. | |
It has massive potential. What is behind it from his board a few? | :07:21. | :07:31. | |
turn -- Vladimir Pruden and the Kazakhstan President CVs as an | :07:31. | :07:40. | |
opportunity to recreate a European Union in the space of former Soviet | :07:40. | :07:45. | |
countries. Essentially it will be a replica of the European Union in an | :07:45. | :07:51. | |
ideal case where you will have economic and political union with | :07:51. | :07:56. | |
international projects co- ordinating economic and political | :07:56. | :08:00. | |
policies of the member states. have to leave it here. We have no | :08:00. | :08:04. | |
more time to talk about the issues and problems. I am sure there are | :08:04. | :08:12. | |
many. The profits of Yahoo have felt more than 25% in the three | :08:12. | :08:18. | |
months to September. His chief executive was sacked a few weeks | :08:18. | :08:24. | |
ago. The search engine is st sto compete with Dougal. | :08:24. | :08:29. | |
Shares in Apple fell sharply in trading on Wall Street after it | :08:29. | :08:36. | |
unveiled worse than expected earnings for the third quarter. | :08:36. | :08:41. | |
Profit rose but Apple sold shares 17 million iPhones in the three | :08:41. | :08:48. | |
0 million forecast. Customers are | :08:48. | :08:52. | |
holding off fought the launch of the next phoe next pho is not all | :08:52. | :09:01. | |
bad news. Computer giant Intel recorded a 17 % profit increase. | :09:01. | :09:07. | |
The group saw a sharp rise in sales of servers. Its corporate customers | :09:07. | :09:15. | |
ar ar arentres to phones and notebook PCs using Intel | :09:15. | :09:22. | |
chips stop Bella it was an all-time revenue and profit record. When we | :09:22. | :09:30. |