:00:07. > :00:17.prelude to the dissolution of the militant separatist group Eta. Now
:00:17. > :00:22.
:00:22. > :00:27.we bring you World Business Report. The headlines: The world's most
:00:28. > :00:31.powerful fund its ministers call put its a thick action as Europe
:00:31. > :00:35.you need is given one week to fix the crisis. Portugal prepares for
:00:35. > :00:40.deeper cuts as the government presents more austerity measures to
:00:40. > :00:45.Parliament. Or shares of Japanese camera maker
:00:45. > :00:55.of Olympus plunge for a second trading day cutely E! D shock
:00:55. > :01:00.dismissal of its president and CEO. -- due to the dismissal.
:01:00. > :01:07.He pressure is on Europe's leaders to resolve any differences that
:01:07. > :01:13.have about a comprehensive plan to solve the Cern debt crisis. G20
:01:13. > :01:17.finance ministers called for leaders to act decisively and they
:01:17. > :01:22.want to seek consensus on top of a Ritter's and hunt for the summer
:01:22. > :01:29.and expected it. They have to agree on the losses the private sector
:01:29. > :01:36.should take on Greek debt. Eight per and to recapitalise Europe's
:01:36. > :01:42.banks and how to increase the size of the bait out one. We are joined
:01:42. > :01:46.by the head of credit research at Legal and General Investment
:01:46. > :01:53.Management. Quite a tall order to have consensus on those three
:01:53. > :01:58.issues but Sunday. Indeed. I wonder where they take their optimism from.
:01:58. > :02:02.It is something that has been excavating for two years and eight
:02:02. > :02:11.the kit can be resolved in one week. The finance ministers now have to
:02:11. > :02:16.get over national pride. They have to put it all together in a
:02:16. > :02:24.presentable form in one week. devil is in the detail and vary so
:02:24. > :02:29.much detail that is quite critical but in those three elements. If we
:02:29. > :02:33.talk about biting down Greek debt. At the one issue of how much should
:02:33. > :02:40.be taken into the hands of banks and into Greece. He think that will
:02:40. > :02:47.be resolved within a week's this is one of the light that masks.
:02:47. > :02:57.Because we have put numbers ranging from 40% to 60% in the past weeks,
:02:57. > :03:01.
:03:01. > :03:11.even from senior politicians. It will be some way around 50%. E! But
:03:11. > :03:12.
:03:12. > :03:20.you do not need Greece to a sent to this. To agree to this. Which banks
:03:20. > :03:24.should be required to raise what amount of capital was there are
:03:25. > :03:29.many thoughts in this respect. Shall we start with the banks which
:03:29. > :03:37.have no capital ratios? Or the ones that have trouble finding
:03:37. > :03:42.themselves pose no some banks have capital ratios which look low, but
:03:42. > :03:50.they can operate without the help of ECB. Other banks have strong
:03:50. > :04:00.capital ratios and have a problem. Have we come up a bail-out fund.
:04:00. > :04:04.
:04:04. > :04:09.That is a problem to resolve than a week. In the Worcester they have
:04:09. > :04:14.just agreed. If you Myer now has to be modified or leveraged, that may
:04:14. > :04:19.create prettiest from people we believe there has been enough money
:04:19. > :04:28.spent on rescuing other countries. At thought talking us through the
:04:28. > :04:32.challenge as a hit. Let's look at Portugal and up. It may not be at
:04:32. > :04:42.the epicentre of the rare crisis at the moment, but many would argue it
:04:42. > :04:44.
:04:44. > :04:54.is not far away. Its government will present its latest package of
:04:54. > :04:54.
:04:54. > :05:04.that increases and spending cuts to Parliament later did later today.
:05:04. > :05:05.
:05:05. > :05:12.Our correspondent reports. And marches to... took place on
:05:12. > :05:22.Saturday and in his and they ended in a really outsider the government
:05:22. > :05:28.buildings. -- Lisbon. The Prime Minister are blind elements of the
:05:28. > :05:33.plan and on this day. It included eight years' suspension of holiday
:05:33. > :05:37.and Christmas play almost public sector workers. He said this and
:05:37. > :05:45.other measures were needed in what he described as the national
:05:45. > :05:49.emergency. TRANSLATION: We should never have reached this point. I
:05:49. > :05:55.never thought I would have to announce to the country such to of
:05:55. > :05:58.measures that are hard to expect. Portugal is struggling to regain
:05:58. > :06:04.credibility after it admitted in April that it could not pay its
:06:04. > :06:11.debts. The Finance Minister clearly votes to differentiate Portugal
:06:11. > :06:16.from Greece but owing do that and required by the company's loan deal
:06:16. > :06:19.from the EU and I him that. But there are doubts about whether that
:06:19. > :06:25.can't be done at Boehner to his right and up to solve the problems
:06:25. > :06:29.of there. On Saturday the key committee called for next week in's
:06:29. > :06:35.used a to come up a comprehensive plan to decisively address the
:06:35. > :06:41.crisis. In Portugal it was resignation but also anger at the
:06:41. > :06:46.latest harsh measures. TRANSLATION: I think this is all well. The
:06:46. > :06:51.situation has no solution. It is always the same people that have to
:06:51. > :07:01.pay for the crisis. TRANSLATION: The Prime Minister his mark in us
:07:01. > :07:03.
:07:03. > :07:13.all. That is stealing from us all. Portugal's fate is likely to be
:07:13. > :07:16.
:07:16. > :07:23.decided elsewhere. BBC News. A limp as, or the Japanese camera maker,
:07:23. > :07:33.has had its shares peaked very hard in 48 hours, a 14 meant drop in
:07:33. > :07:39.
:07:39. > :07:47.trading. -- a 40% drop. It is because of the resignation or
:07:47. > :07:53.the shocking dismissal of its non- Japanese president and CEO. It is
:07:53. > :08:01.being hammered ago that two trading sessions. Close to 48% will be
:08:01. > :08:08.Tokyo Stock Exchange. This has pushed the stock price than its
:08:08. > :08:18.neighbour since May 2009 because of the shop this Bath shock dismissal
:08:18. > :08:20.
:08:20. > :08:24.of Mr Woodward. There are or Sir Corporate governance concerns. The
:08:24. > :08:33.board of an MP said that Marcoule would would's views had there are
:08:33. > :08:43.pitched. -- the board of only here said that Michael Woodward's views
:08:43. > :08:49.
:08:49. > :08:56.had diverged. Morgan is buying El Paso, one of
:08:56. > :08:59.the biggest deals in the energy industry the sea. Pipeline
:08:59. > :09:05.companies are investing heavily in natural gas because of rising
:09:05. > :09:15.demands. The boss of Europe's biggest airline is expected to
:09:15. > :09:19.stand down on Monday. He is reported to be a boardroom casualty.
:09:19. > :09:23.The chairman is said to be named as the new Chief Executive at an
:09:23. > :09:33.extraordinary shareholder meeting. The group made a loss in the three
:09:33. > :09:34.
:09:34. > :09:40.months to June. One of the world's biggest investments groups said it
:09:40. > :09:46.would vote for Rupert Murdoch this week. Revelations continue to
:09:46. > :09:51.emerge about the phone hacking scandal at the former newspaper