02/02/2012 World Business Report

plan to Syria. Hearing his World Business Report.

-- here is World Business Report. This is World Business Report.

Headlines: Greece still is not working. Talks over the workforce

regime. The world's biggest social network

confirms a $5 billion share sale. Greece is not working. Average pay-

out strips the value Greek workers add to national debt. The

Government cannot afford to employ as many people as it does. The IMF

is one of the country's main. Greek unions and bosses or in talks to

date a warning of cutting pay further. They say it will lengthen

the economic downturn. They Keith will be on the programme. It is a

tricky question. The IMF are putting pressure on Greece to the

what the minimum wage and make the workforce more productive. Greece

is grappling with severe austerity changes. The big problem is that

Greece is in fiscal trouble and got aid from the IMF and the ECB. The

counterpart of all of this aid is that Greece has to make sure that

it brings up the growth rate of its economy. What we can see is that at

the end of last year there was talk of quick creditors not giving one

of their money back. That is what Greece was slacking. It felt it was

being that of the great -- of the hawk. It made it easier for the IMF

to push Greece to do the reforms. Greece realised that there is no

way the IMF warned Europe can force them to carry out reforms. Where do

we go from here? Time is of the essence for Greece. It has a big

debt repayment in March. It is still in discussions with private

bondholders and other lenders. It is quite a difficult time for

Greece is and it? The IMF and others are talking tough. They are

talking tough, but she would expect them to. They realise they're in a

negotiating position weaker than Greece. Chris realises that if it

does not repay his debts in March the consequent -- the consequences

for the world could be catastrophic. Greece is betting on the fact that

the best will give them the money. When I say the IMF had talking

tough, I mean halving the minimum wage. Unions have been clear that

they would be mass demonstrations if that took place. The cost-of-

living increases higher than Portugal. Greece is not that

efficient. When we talk about reducing the public debt in Greece,

we need to look at public debt to GDP. That is the difficult part.

Greece does not have an efficient economy. We need structural reform.

Against the background of the Depression Greece in Xian, it is

not easy to bring in these reforms. But it is what Greece needs in the

long run. In the short run it will peak easy. Thank you.

Two years ago, China over. Germany to be the world's biggest exporter.

Before that it overtook Germany to be the second richest nation on the

planet. Angela Merkel disengaging Edis meeting with the Chinese

premier, to ensure that investments are secular and to persuade the

country to put more money into the resign. We are joined by an

economist. Obviously there is a lot of expectation and anticipation in

Europe about the trip. Do you think Angela Merkel will have much to say

at the end of it in terms of help from China? I doubt there will be a

big announcement after it. The most important thing is to lower

expectations. I do not think that Chancellor Merkel is in Beijing for

King for a bail-out. I do not think that China are ready to bail-out

Germany. They believe it is not a lack of cash, but a lack of

political will. They are waiting to be ensured that. China is a very

important part before Europe. It is a very important relationship.

China has been quite vocal about buying sovereign debt in in some

distress eurozone Corp -- economies in the past. They put their cash

with their words are. They have been participating in the European

stability bund. They have been buying bonds or a long. What Angela

Merkel is trying to do is to reassure the government that their

investments as safe. And that the future is good enough for China to

continue investing. Angela Merkel has also brought 20 German CPO has

to convince China as investing in Germany is a good idea. She is one

of the key players in the eurozone debt crisis. What are they saying

about her weight you are? What they're waiting to see, is how she

will be able to bring up domestic sentiment in Germany to bring a

political solution. Thank you. More than 800 million subscribers cannot

be wrong. After months of speculation, Facebook has detailed

plans for a 5 billion Dubbo share sale. Some experts have rallied the

group at $100 billion. Our correspondent has more. Investors

around the block will soon be able to buy shares in Facebook. They

will probably start trading as soon as May. Facebook is planning to

raise $5 billion from investors. That would put the company on a par

with giant like McDonald's, Visa and hammers on. He logged with

their new status will come additional scrutiny from regulators.

Also scrutiny over how Facebook used as people's private

information. It does not seem to have put a fuse has so far. In the

paperwork they filed with US regulators, it showed that 845

million fuzes and logging into Facebook every month. On average,

based band of six or seven hours of tinted Facebook talking to France.

The big question going. Will be whether Facebook can maintain a

following with millions of users. Other business coverage to mention:

The parent group of American Airlines will play off 13,000 staff.

They kept -- filed for protection last year after running out of cash.

They hope to save $2 billion a year. The carrier will need to boost

sales to become profitable again. Shares in the world's biggest

countries have begun trading in Tokyo. There was a glitch on the

Tokyo Stock Exchange. Software was uprated last year to compete with

rivals in London, Frankfurt and New York. It is trading now and is up