Browse content similar to 30/04/2012. Check below for episodes and series from the same categories and more!
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just hours after the head of the UN observer team for Syria arrived in | :00:03. | :00:13. | |
:00:13. | :00:19. | ||
Damascus. Sally is next with World Business Report. The headlines: | :00:19. | :00:23. | |
Bending the rules - EU members submit plans for cutting their | :00:23. | :00:29. | |
budget deficits next year. Many argue the 3% target is out of reach. | :00:29. | :00:37. | |
Spain's woes deepen as it double dips into recession. Another grim | :00:37. | :00:41. | |
statistic reveals the uphill battle it faces to get a grip on its | :00:41. | :00:51. | |
:00:51. | :01:07. | ||
The Netherlands' struggle to reach a deficit deal did not meet their | :01:07. | :01:14. | |
deadline. With three eurozone countries already bailed out, | :01:14. | :01:19. | |
anxiety about the financial state of several member states remains | :01:19. | :01:29. | |
:01:29. | :01:34. | ||
high. Brussels calls it convergence. States will show today how they | :01:34. | :01:37. | |
plan to come together and stabilise feature spending. It was a close | :01:37. | :01:43. | |
call for the Dutch. Previously in the financially strict count, the | :01:43. | :01:47. | |
Netherlands only just managed to agree on a national budget at the | :01:47. | :01:52. | |
11th hour. There Brown pledged to get better as it's down to 3% of | :01:52. | :02:02. | |
:02:02. | :02:04. | ||
GDP. -- everyone pledged to get down their debt as it down. Spain | :02:04. | :02:09. | |
was given more budget wriggle room this year but its sovereign debt | :02:09. | :02:13. | |
crisis is worsening. European analysts say this Budget round will | :02:13. | :02:17. | |
be a difficult balance between austerity and growth spending. If | :02:17. | :02:22. | |
you look back to the last European semester there were far less | :02:22. | :02:24. | |
European countries under immediate pressure but now you have countries | :02:25. | :02:28. | |
like Spain, Italy, Belgium and others who are under much more | :02:28. | :02:33. | |
pressure than we have seen in the past and these pressures are felt | :02:33. | :02:38. | |
in the process of the European semester and they are being felts | :02:38. | :02:42. | |
also because other members are exerting stronger pressure on this | :02:42. | :02:45. | |
country's first in certain -- facing certain problems. It is | :02:45. | :02:50. | |
still jemmy leading the charge for budget reforms while Central and | :02:50. | :02:55. | |
southern Europe wants room to create investment Ford -- room for | :02:55. | :03:05. | |
:03:05. | :03:07. | ||
The eurozone country that has made it clear it will not hit the 3% EU | :03:07. | :03:15. | |
debt target next series Spain. In a bid to tackle its mounting debts, | :03:15. | :03:18. | |
the eurozone's fourth largest economy has been forced to | :03:18. | :03:24. | |
implement sweeping austerity plans. -- next year is Spain. On Friday | :03:24. | :03:28. | |
official jobless figures showed a jump in unemployment to just over | :03:28. | :03:36. | |
24% with half of all under-25s out of work. Across Spain over the | :03:36. | :03:41. | |
weekend, tens of thousands took to the streets. They protested against | :03:41. | :03:46. | |
government reforms. This time there were not the numbers seen during | :03:46. | :03:50. | |
last month's general strike but public sector cuts and tax | :03:50. | :03:56. | |
increases are causing anger, in particular, the government's | :03:56. | :04:04. | |
additional 10 billion euros worth of savings and for public health | :04:04. | :04:07. | |
and education. TRANSLATION: We are here defending public health and | :04:07. | :04:10. | |
the education system because they want to destroy it for good but it | :04:10. | :04:17. | |
is funded with our tax money. It is ours and we have the right to fight | :04:17. | :04:25. | |
for it. TRANSLATION: The government will here ass. I do not even know | :04:25. | :04:29. | |
if they pay any attention to us at the moment but they will have to | :04:29. | :04:35. | |
pay attention to us and the only reaction is for us to show their is | :04:35. | :04:39. | |
some alternative. Our policy cannot be devalued like this. The effects | :04:39. | :04:45. | |
of austerity have not been fully felt. Spain's crisis and sky-high | :04:45. | :04:51. | |
unemployment mean more and more people rely on free food handouts. | :04:51. | :04:56. | |
This man, head of the Spanish Federation of food banks, say they | :04:56. | :04:59. | |
are helping nearly double the number of people they were five | :04:59. | :05:03. | |
years ago. With Spain now officially in recession, some | :05:03. | :05:07. | |
analysts fear that, with the government's program of austerity, | :05:07. | :05:12. | |
the economy will struggle to start growing again. TRANSLATION: This is | :05:12. | :05:16. | |
a difficult situation. We are at the edge of the precipice. Spain is | :05:16. | :05:22. | |
all t of all take Italy and then the fire | :05:22. | :05:28. | |
will be all over Europe. -- a huge economy. Authorities here are | :05:28. | :05:32. | |
preparing for more unrest. The government says it will be a hard | :05:32. | :05:41. | |
year but the reforms will continue. It argues that posterity is. -- | :05:41. | :05:45. | |
that posterity is the only choice for Spain to regain its credibility | :05:45. | :05:51. | |
on the markets and to encourage future growth. As we have been | :05:51. | :05:56. | |
seeing in Spain, fiscal austerity is leading to unemployment rising | :05:56. | :06:00. | |
higher and higher. Young people across Europe are being hit | :06:00. | :06:03. | |
especially hard. The International Labor Organisation is warning the | :06:03. | :06:07. | |
situation is only going to get worse. Let's speak to Raymond | :06:07. | :06:17. | |
:06:17. | :06:18. | ||
Torres, the author of the ILO's report. Tell us how difficult | :06:18. | :06:27. | |
things will become in terms of unemployment? -- of employment. It | :06:27. | :06:31. | |
will rise by 5 million people this year and another 5 million next | :06:32. | :06:35. | |
year if something is not done. We are already talking about a | :06:35. | :06:39. | |
situation where 40% of people without work have been looking for | :06:39. | :06:42. | |
employment for more than one year - an extraordinary figure that is | :06:42. | :06:49. | |
worrying for the future. Is Europe the place where it is most acute? | :06:49. | :06:59. | |
:06:59. | :07:00. | ||
Europe a -- Europe certainly is a place where the situation is | :07:00. | :07:05. | |
deteriorating very rapidly. The economy and the job market is | :07:05. | :07:10. | |
slowing down in places like China as well and in North America to | :07:10. | :07:14. | |
some extent. What is the ILO saying about how to change is very | :07:14. | :07:19. | |
worrying trend? The first point to remember is that austerity is | :07:19. | :07:24. | |
counter-productive. It is counter- productive in terms of jobs. It is | :07:24. | :07:29. | |
affecting the economy and, in particular, the job market. It is | :07:29. | :07:36. | |
ironic because austerity is ineffective even in terms of | :07:36. | :07:44. | |
cutting a country's deficit. Countries who have been severe in | :07:44. | :07:49. | |
their austerity are not showing much growth. There are no positive | :07:49. | :07:52. | |
results at the moment from austerity and we need an | :07:52. | :07:56. | |
alternative. We will have to leave it there but thank you very much | :07:56. | :08:00. | |
for telling us your views on how things are in the international | :08:00. | :08:03. | |
labour market. Let's turn our attention to Japan where Prime | :08:03. | :08:07. | |
Minister Yoshihiko Noda meets US President Barack Obama in | :08:07. | :08:13. | |
Washington today. He is expected to discuss closer trade ties between | :08:13. | :08:19. | |
the two nations. Rico Hizon is in Singapore. Tell us more about this. | :08:19. | :08:24. | |
Apart from a closer bilateral relationship, Yoshiko no-no will | :08:24. | :08:31. | |
also address Japan's keen interest in joining the trans-Pacific | :08:31. | :08:34. | |
partnership of operation which aims to create a free-trade zone across | :08:34. | :08:40. | |
the Pacific. -- Yoshihiko Noda. He is facing strong opposition from | :08:40. | :08:47. | |
Japanese farmers over this pact. It will have a severe impact on the | :08:47. | :08:53. | |
country's agriculture sector. Many Japanese farmers would be swept | :08:53. | :08:58. | |
away by the global competition as the level -- the levee on imported | :08:58. | :09:08. | |
:09:08. | :09:14. | ||
rice runs at nearly 800%. The removal of high tariffs would | :09:14. | :09:24. | |
:09:24. | :09:31. | ||
benefit the overall economy but not The markets in Asia - most are | :09:31. | :09:35. | |
trading higher but, of course, Japan is closed today so do not be | :09:35. | :09:39. | |
fooled by that figure. The Japanese market is closed for a public | :09:39. | :09:46. |