Browse content similar to 05/04/2012. Check below for episodes and series from the same categories and more!
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will unveil his presidential election manifesto later today. Now | :00:03. | :00:13. | |
:00:13. | :00:20. | ||
it is time to get the latest Pillow and a warm welcome. -- hello. | :00:20. | :00:27. | |
Back on red alert: Market's drop sharply after a Spanish bond | :00:27. | :00:36. | |
auction flops. And Japan's market is that before | :00:36. | :00:46. | |
:00:46. | :00:48. | ||
we coal. Investors are counting the losses. -- 4-week low. Can it | :00:48. | :00:52. | |
really restore growth and jobs? Labour reforms are dividing the | :00:52. | :00:59. | |
country. Good to have you with us. Investors have been far more | :00:59. | :01:04. | |
willing to lend to the eurozone over the last three months. That is | :01:04. | :01:09. | |
largely thanks to one trillion Euros in cheap loans from the | :01:09. | :01:14. | |
European Central Bank. Confidence is already fading. Spain is | :01:14. | :01:21. | |
struggling to borrow money on financial markets. An auction of 5- | :01:21. | :01:29. | |
year bonds did not find enough buyers. The stock markets in Europe | :01:29. | :01:35. | |
sank. Let's remind ourselves of the significant falls in the share | :01:35. | :01:40. | |
markets. There are predictions that the markets will open flat. These | :01:40. | :01:45. | |
are the markets in Asia. Rico Hizon will talk us through them in a few | :01:45. | :01:55. | |
:01:55. | :01:56. | ||
moments. You can see some of the false here. The US has been sued by | :01:56. | :02:04. | |
the News of the lacklustre Spanish bond auction. The crisis is back on | :02:04. | :02:09. | |
our doorstep. Rico Hizon is watching the markets in Asia. This | :02:09. | :02:14. | |
is having a big impact were you are as well, isn't it? Yes indeed. | :02:14. | :02:20. | |
Share prices are weak for a second day. Europe's debt problems have | :02:20. | :02:28. | |
surfaced yet again. Japan, South Korea, Australia, and they are all | :02:28. | :02:34. | |
struggling. Take a look at the numbers. Markets are being | :02:34. | :02:37. | |
supported by better than expected economic data coming from China. | :02:37. | :02:43. | |
That was earlier today that was released. The services sector is | :02:43. | :02:52. | |
expanding in the month of March. 11 month highs. Financial reforms are | :02:52. | :02:57. | |
being announced by Beijing on Wednesday. That is pushing Shanghai | :02:57. | :03:02. | |
she has into positive territory after a 3-day holiday. -- Shanghai | :03:02. | :03:12. | |
shares. There is a renewed risk of a version for Asian equity. | :03:12. | :03:17. | |
Diminishing hopes of more monetary easing from the US. The potential | :03:17. | :03:22. | |
fading effect of the European Central Bank's huge liquidity | :03:22. | :03:27. | |
investments. Investors are concerned about the inflation | :03:28. | :03:32. | |
picture and the mixed results with economic and monetary policy out | :03:32. | :03:40. | |
looks. Asian central bankers are continuing to support growth. They | :03:40. | :03:47. | |
are still concerned about price hikes. Christian Schulz is here. | :03:47. | :03:53. | |
Than you for being on the program. Give us your perspective on what | :03:53. | :03:58. | |
happened yesterday. -- thank you. It was not just Spanish debt, it | :03:58. | :04:06. | |
was Italian, Greek, Portuguese... It was the return of contagion. | :04:06. | :04:14. | |
There has been a lot of bad month - - bad news over the last month. We | :04:14. | :04:22. | |
have had these Spanish problems. Beyond Spain, problems in Italy, | :04:22. | :04:27. | |
for there was no major news apart from reform in the labour market. | :04:28. | :04:33. | |
In Greece, also, little news. Contagion is spreading | :04:33. | :04:38. | |
indiscriminately. For the first time this year, amass sell off. | :04:38. | :04:47. | |
That is a shift in mood. We had pumped all of that money into the | :04:47. | :04:50. | |
markets. We thought the market would discriminate between | :04:50. | :04:54. | |
different countries. Small countries with acute problems like | :04:54. | :04:58. | |
Greece and large problems -- large countries with relatively small | :04:58. | :05:04. | |
problems like Italy. Italy in particular is too big to be rescued | :05:04. | :05:12. | |
with the existing rescue facilities. 800 billion euros. It would be a | :05:12. | :05:18. | |
huge problem. This is what we would need to watch. The Prime Minister | :05:18. | :05:22. | |
of Spain has raised the question of an international bail-out again | :05:22. | :05:27. | |
this week. He said that Spain was in an extremely difficult position. | :05:27. | :05:32. | |
As always with politicians there is a domestic and an international | :05:32. | :05:38. | |
message to what they say. He is going through a tough phase. He has | :05:39. | :05:43. | |
unveiled a budget which is very tough. He used to get domestic | :05:43. | :05:50. | |
support. Briefly, another set of cheap loans from the European | :05:50. | :05:57. | |
Central Bank is necessary? They are not planning another injection of | :05:57. | :06:02. | |
liquidity. They have set up conditions in which they would. | :06:02. | :06:06. | |
Given the renewed panic, we need something to stop it if need be. | :06:06. | :06:13. | |
That would be very helpful. very much, Christian Schulz. -- I | :06:13. | :06:18. | |
thank you very much. Let's turn to another part of the drama. After | :06:18. | :06:23. | |
weeks of wrangling with unions, Mario Monti has finalised his plans | :06:23. | :06:28. | |
for reform of the labour market in Italy. The reforms would make it | :06:28. | :06:33. | |
easier to fire workers. It is supposed to help businesses create | :06:33. | :06:41. | |
a vital jobs. The package will go before Parliament. The response | :06:41. | :06:47. | |
will be decided today. An efficient Italian workforce, | :06:47. | :06:53. | |
that is the goal of Mario Monti's latest political reforms. They | :06:53. | :07:00. | |
include the listening of rigid employment law. -- the include | :07:00. | :07:05. | |
softening employment laws. This woman says it will help it to take | :07:05. | :07:13. | |
on new people. She is head of a business confederation. She is the | :07:13. | :07:20. | |
CEO of a company that employs 7,000 people worldwide. You want to train | :07:20. | :07:25. | |
your employees and keep them with you. If you had bad employees, this | :07:25. | :07:31. | |
happens every where, you should have the right to get rid of them. | :07:31. | :07:38. | |
The unions are at the heart of workers' writes. They say the | :07:38. | :07:46. | |
reforms do not address the fundamental problems. This will not | :07:46. | :07:53. | |
create new jobs. It will make it easier to dismiss people. We do not | :07:53. | :07:57. | |
agree with this. For the students, the world of work is already | :07:57. | :08:07. | |
:08:07. | :08:10. | ||
changing. There is little stability, like that enjoyed by their parents. | :08:10. | :08:16. | |
It is difficult to find a job. There is no chance for us. They | :08:16. | :08:23. | |
only want people with 10 years' experience. I don't want to end up | :08:23. | :08:32. | |
like my father. He has been working in the mind since he was 15 years | :08:32. | :08:37. | |
old. He will probably do that until he is 78. It is all about changing | :08:37. | :08:46. | |
the Italian view. The Italian search for a job for life could be | :08:46. | :08:54. | |
abandoned. We have opportunities in Italy. If | :08:54. | :09:00. | |
you can do it, you can do it. Italians, this debate is as much | :09:00. | :09:04. | |
about change as reform. For the Prime Minister, it will be his | :09:05. | :09:14. | |
:09:15. | :09:20. | ||
Banks are expected to keep their rate low until well into next year. | :09:20. | :09:30. | |
The big debate as to whether to inject more money into the economy. | :09:30. | :09:34. | |
There are signs that the UK may be returning to recession. | :09:34. | :09:42. | |
The New York has opened to the press ahead of its opening | :09:42. | :09:47. | |
tomorrow.... The economy improves, with some seeing sales jump by as | :09:47. | :09:54. |