16/09/2011 World Business Report

Welcomes the World Business Report. The headlines: Finance ministers

meet in Poland. Europe's debt problems are

discussed at the World Economic Forum.

The battle over how to supply European Union of finance ministers

meet in a Polish city in a sign of how serious the situation has

become. The US treasury secretary will be joining them. It is thought

he will push them to expand the capability of Europe was back bail-

outs facility. It is not big enough to cope if one of the big economies,

like Italy, got into trouble. Finland is still demanding extra

guarantees for lending money to Greece. Some of the hes was taken

out of the crisis on of Thursday when five central banks offered

commercial banks a credit facility so they can borrow. I am joined by

a senior Economist. Until now, the politicians have been buying time.

Do you think the time has now run out? No. The alternatives for

buying time are hardly there. We will continue to see the ECB cannot

be the fire brigade in financial markets. Leaders have to get their

acts together. I would expect a sound commitment that's no country

will exit the eurozone. We saw the reactions by the five central banks

yesterday. They are in crisis mode. Is there anything else they can do

to support the politicians? There is hardly anything left. They could

offer longer liquidity. This would be the only solution. The ECB could

cut interest rates. It will be hesitant to get everything out of

the closer to help politicians because they also wants to post

politicians to come up with clearer solutions. Even if the politicians

come up with a statement saying no country will be forced to exit the

eurozone, what other measures can they do? They have to bring the

national parliaments to agree to the decisions taken in July, to a

bigger rescue fund. Otherwise, it will not be enough to save Italy.

It would be premature to ask for a higher rescue funds when a national

parliaments are struggling to agree to the old one. They have to get

that through the parliaments. They also have to address the issue of

debt restructuring. Politicians could start to address the issue.

His debt restructuring necessary? It may not be necessary to get. If

you do not wants to move towards political union, debt restructuring

could be on the option menu down the road. Thank you for joining us.

Europe's problems are creating opportunities for some investors.

European assets look cheap in Asia. More than 1,000 business leaders

from around the world are gathered at the World Economic Forum in

China. There are lots of influential people that. Also the

main themes are emerging? The debt crisis in the West has been

dominating the talks here. It kicks off before the conference started.

Italy said it would approach China in help to stabilise the economy.

Wen Jiabao said China was happy to help. The central banks intervened.

The reception has been positive. They think this is a bank H on a

larger problem. So there is a crisis of confidence in the West. I

have spoken to fund managers who believe it is a good time to invest

in Europe. It does seem there is an opportunity in crisis for the

investors here. There is talk of alternative reserve currencies,

something to replace the dollar? This came up in a number of

different talks. The US continues to depreciate and the euro, if it

had any conception of being the reserve currency, that has gone our

way. People are looking for what could be next. The Chinese currency

has been voted as a possible contender. Investors are also

looking to commodities are like gold and silver as a store for well.

These are uncertain times. Thank you.

Russia's gas bomb will sign an energy deal with gas suppliers for

a new pipeline to Europe. It will run across the Black Sea to

southern and central Europe. Russia said it will be more reliable than

the current routes through the Ukraine. The yew is backing another

project. -- here you. In Windsor 2009, people have to use

what for fuel because Russia shuts off the gas in the Balkans.

A quarter of all the gas EU countries used to fuel their

households and power stations comes from Russia. The reserves are

running low. It is feared within the next 20 years, half of all the

gas it needs will need to come from Russia. The search is on for rival

sources of gas supers of this Russian domination. This pipeline

and would go across the Black Sea, avoiding trouble with the Ukraine.

It was supplements aim different pipeline across Germany. But the EU

is backing a different pipeline which would not pass through Russia

at all. It is logical to say we would have as a Bijan -- as a --

enter the gas market. Several European gas suppliers have been

assigned on. It is hoped they will lobby the EU to show their support.

It is putting pressure on central Asian countries. Russia is

desperate to ensure that does not happen. That would provide an

impetus that would be unstoppable. Building both pipelines could be a

waste. Between them, they could hide 100 billion cubic metres of

gas a year. But it could be 20 years before the demand for gas in

Europe rises that high. Shares in the makers of the

Blackberry Mac plunged. Research in motion is down 50% on last year.

Sales in at tablet computer as fell short of their forecasts. UBS may

have its credit downgraded after announcing it lost $2 billion due

to a rogue trader. Moody's save the credit rating is under review.

Kweku Adoboli was arrested on a Thursday under suspicion of fraud.

The Reserve Bank of India is discussing interest rates today. It

has raised interest rates 11 times in the last year. Inflation rose in

August and his posting an annual rate of 10%.

Now a look at the markets. Asian markets are reacting to the news of

the central banks providing that The General Medical Council is

worried some overseas doctors coming to the NHS with the no

preparation for working in the UK. It is proposing a basic

introduction programme for any doctors so they understand the

professional standards expected. A more than one third of doctors in

the UK qualified abroad. The GMC says the health service has relied

on the dedication of these foreign workers. The report says last year

there were 240,000 doctors on the medical register. 150,000 qualified

in the UK. 90,000 did their initial training overseas, a quarter in the

EU. The GMC says many overseas doctors have troubles adapting to a

different professional environment. Confidentiality and how you handle

that... How you deal with patients who expects you to explain why you

are doing and to share decisions Bock and they may find there are

different sorts of drugs they are not familiar with. The unlawful

killing of this man, David Gray, highlighted concerns over the

competence of some foreign doctors. He was given a lethal overdose by a

German doctor on his first NHS shift. Doctors' representatives

have welcomed the report. Still ahead: Breakfast News and we

will be in the Swansea Valley where the race continues to rescue four

The headlines: four miners has spent the night trapped inside a

colliery in Wales. They are 90 metres underground at the Gleision

Colliery near Swansea. A retaining wall gave way on Thursday, flooding

a tunnel. Divers have been trying to get into

the mine into the waters to see if they can the man. They have only

been able to get 30 metres in. They have been concentrating instead on

pumping as much of the water out as they possibly can.

There has been a positive response from markets to the information of

five the leading central banks to contain the debt crisis. EU finance

ministers are meeting in Poland. The woman to become the first

female Prime Minister in Denmark has claimed victory. A centre-left

coalition will take power after a decade in opposition.

If more than 5 million people have been affected by flooding in

southern Pakistan. 200 people have died and many more have been left

homeless. The region is still trying to recover from last year's