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