Transcripts For ALJAZ Debt Machine 20240713

Downgrade recommendation by the department of justice prosecutors and as you pointed out that downgrading of the recommendation came after the u. S. President weighed in on twitter calling the recommendations a miscarriage of justice in the end the judge said that she took a look at both recommendations and felt that this should be proportional but at the same time noted that there were very few precedents for such a case involving the very close ally of the u. S. President roger stone in the end she did say that she took into account the requests for levy and see by his friends and family and she also said that she did not in any way pass judgment on roger stone as a person she said shed leave that up to a Higher Authority pretty remarkable given the fact that stone himself took aim at this judge quite literally even posting early on when he had been charged a picture of the judge would be campbell handling the case next to her image in a rifle crosshairs so this is been a remarkable case from start to finish as you point out the sentence now in some 40 months as well as a hefty 20000. 00 fine but certainly a downgrade is set. From what was initially proposed a vigil has been held in the german city of how now after a suspected far right attack left 9 people dead or 30 say theyre treating wednesdays shooting as terrorism after a 43 year old man opened fire inside 2 shisha bars before fleeing the scene and killing himself german chancellor Angela Merkel says there are signs the man acted out of racism the youth are going to do that everything is being done to clarify up to the last detail the background of these horrific killings there are many indications at the moment that the perpetrator acted on right wing extremist rices mars of out of hatred towards people of other origins religion or parents turkey says 2 of its soldiers have been killed and 5 injured in ass trucks near syrias adlib province its military has been shelling Syrian Government positions in the northwestern city of sara keep the government captured the city for rebels 2 weeks ago as part of its push to retake the last rebel held area turkish president richard tire about one is issued an ultimatum the syrian troops to pull out or face retaliation. Israels Prime Minister has approved more than 2000 new settler homes in occupied East Jerusalem and community who says he also intends to approve a further 4000. 00 residential units in another settlement in the same area a spokesperson for the palestinian president has condemned the decision or netanyahu is move a systematic destruction of plans for a 2 state solution the settlements are built in violation of international law. South korea has reported its 1st death from corona virus as the number of cases globally reaches 75000 theres been a downward trend in the number of new cases but the World Health Organization says now is not the time for complacency china insists its containment measures are working. 2 elderly passengers have become the 1st people from aboard a cruise ship in japan to die of the corona virus the 2 japanese victims who were both in the eightys died in hospital hundreds more passengers are now disembarked the diamond princess after 2 weeks stuck in you can harm a port of japans government has defended its decision to quarantine the ship which some have called the perfect incubator. Those are the top stories to stay with us debt machine is next looking at how debt in europe has impacted its citizens more news after that thanks for watching. Debt it drives markets creates profit and generates an endless cycle of production and consumption. We live on credit our homes cars schools and government expenditures are financed by borrowing. Data has become the engine of our growth the lifeblood of our Global Economy. Its an economic machine impacting the Global Economy with more and more date being produced day in and day out. This debt machine has grown to Epic Proportions and now seems to have spiraled out of control public debt the debt held by governments is soaring. The eurozone is having a much harder time then other economies emerging from the crisis of spiraling debt why and what are the solutions. To debt machine once youre on it very hard to feel like that if i must use them to look good. But on that lets start over and create a system of credit which would actually be sustainable which wouldnt destroy the planet because the current machine just a way. Diminishing i look up of my desk and that Community Says to me peace on duty do test on come on and did across us economy. As you came out. 2nd it puts paramedics on it the producer live where problem sick over to that somebody to see that. Then who. Is a pow and i deny me. Said that then on any. When its debt reaches a certain level the government gets caught in a spiral to repay its debt and the interest on it the government has to borrow more money year after year. Most eurozone countries are now in that situation they borrow heavily on the Financial Markets and from large private banks that fight fiercely to keep them as clients. Banks love to make loans to sovereigns why because behind the sovereign are millions of taxpayers and theyre not like the shoppers or its not like the consumers in a business because those tax payers never go away theres a new one born every single day and theyre going to pay taxes for the next 150 yes unless the country collapses so why wouldnt you lend to them because you know youre going to get your money back you know theres no Bankruptcy Law you know that you can always make a profit on its safe lending whereas if i go to a firm that wants to innovate and produce a new asset you know firm that maybe once decided they want to build steam engines and 1700 or something i dont have to risk assess the risk. Well thats too risky why should i invest in that why dont i lend to the government of spain or to the government of italy or to government of portugal and i know there are a german taxpayers there a french taxpayers there all of whom are effectively backing up this debt so i fear of taking risks. Government data has soared into the trillions of dollars in euro zone countries but those figures dont really mean much if you dont compare them to the wealth of a country its Gross Domestic Product or g. D. P. The countrys debt is measured as a percentage of g. D. P. Here debt represents 50 percent and here 100 percent of g. D. P. 1992 maastricht treaty laid down the terms for an integrated europe. In order to keep debt from getting out of control experts agree that a countrys debt should not exceed 60 percent of its g. D. P. But that critical threshold has been largely exceeded by most European Countries joins us from get us what he asked about it so more now we have a pretty up with the beauty of rio might have a pretty rigid there. When debt exceeds a certain level tax revenues start going up to pay interest on the debt instead of funding government expenses hospitals schools teaches. How can that data be repaid how can we ever get out of the spiral. If you put 2 on both in that as in i guess your yet divvy almost have a dead cvs everybody. Or junkie was up i think they sell out theyre covered with i dont know but almost over that sean hoare and his exam proof are saying of all of his says that they did to contact about what horse knows emmett on bossy when it drops below years to q i think its. The property to go neighbor kid physical about little to quit their battle choice you know what hope is also obviously to get you up at it. Has always existed it dates back to the origins of civilization it even predates the invention of money. The very earliest mesopotamian scriptures that we have are actually debts and credits calculating who owes what to whom when temples and other large bureaucratic systems. So what you have actually are Credit Systems and in mesopotamia they dont have. Private data has always existed but Government Data 1st emerged in italy in the Major Trading cities during the late middle ages. Florence genoa and venice were constantly at war which cost them dearly. To pay for those sovereigns borrowed from prominent family 1st government bonds were traded paying interest. Those prominence creditor families founded the 1st italian banks that started lending a lot of money to european markets who were caught up in endless wars. Most often the bankers were worried by the warlike rulers an easy way of getting rid of debt one that would be used for centuries. At the time governments had power over creditors only much later would that balance of power be reversed. After the 2nd world war in 1945 americas Marshall Plan granted 13000000000. 00 u. S. Dollars in aid to europes industrialized countries exceptional growth followed and the 30 years after the war were good. So good they were known as the economic miracle in germany and the glorious 30 and France Business was brisk industry was in full swing and the growth of consumption was spectacular. So he can the polytunnel use it on grow his basically put it to school against reason and suited for humanly move. The bill to slug subi and cause so much. You know if we were to die or figured on compile your film and the whole goes to show it would be financial in bungay us you didnt resign i wanted but he was i was phenomenal cause its all in there on time the b. B. Was an image will be a few miles in iraq good. In cost. By the end of the postwar boom in the early 1970 s. Government debt in europe was a great called lows thanks to growth and inflation but the economic machine would soon be upset by 2 major events. Good evening on august 15th 1971 Richard Nixon the president of the United States his coffers had been emptied of their gold reserves by the vietnam war announced a staggering measure that would drastically change the world economy. And the dollar against the speculators. I directed secretary connally to suspend temporarily the combat ability of the dollar into gold or other reserve assets except in amounts and conditions determined to be in the interest of monitor instability and in the best interest of the United States. But it was not a temporary measure at all the u. S. President definitively kept the fixed relationship between the dollar and gold. The donor became a floating currency like every other currency a around the world. All the currencies of the world that were either tied to the u. S. Dollar of the british pound by 1971 were now pure fee at currencies theyre not backed by anything theyre just backed by the confidence that people have in those currencies. Abandonment of the Gold Standard kid the way for significant currency market speculation. The free circulation of capital on International Markets intensified it was the beginning of a period of great financial instability. Yet. 2 years later in 1973 another major event occurred the 1st oil crisis. In one year the price of crude oil soared going from 2. 00 to 6. 00 a barrel. Ive. Just normal necessity today going to meet. The dude who could be carter went to dinner some counseling to do so says on this subject dont include the option of befehl the minute you go to miter and say look democracy it would set up a 40 minute no one knows on one that the knowledge will not suddenly produce be color blue. Comedy block no im pretty exact amount of shoes but it was. A sudden increase in the price of oil weighed heavily on the world economy. They put the brakes on growth. Production costs went up prices went up. Inflation is skyrocketing. High inflation has a major drawback it impoverishes savers and investors since their money depreciates. For governments inflation became a new enemy to be defeated at all cost. After removal going on would have rescued a brief federal sa i thought those are the 5 always easy ways to slow yeah follow easy lay plus will this no see you for valley going to me community you really are out there see going to be on the side out you cause i said i used to are classic you just dont call me a serial if what i was eagleman know in gone by gar on credit during a debate you feel see it put to such an icon by the convo oppa like you the idea to dish well much other friends your much of the money for today are see. Predicted do the kills you simply did before are welcome knowledge on global use it is on top on only because if there are so many to not exist before or is it an economy to defeat it on a cyclical season was when in a going to make it up it will moan that it is always under an economy with a monitor fault which is additional lies of trying to put in france as good that the developer is good at it can do pretty good continue said it. But nobody but. I dont not understand yelling or what you. Please you. Have no order to sort out now that it be weeks on a back to the hard basket will be the kimosabe on the day. If you didnt know but starting in the 1980 s. The industrialized countries began to borrow heavily on the International Market after which their public debt would never stop increasing. Margaret thatcher became Prime Minister in the u. K. And Ronald Reagan president in the United States it was the advent of neo liberalism and economic doctrine that also spread throughout europe. Governments everywhere were lowering taxes privatizing public assets these would be the years of easy money. Stock markets expanded wall street in new york the city in london. On both sides of the atlantic governments deregulated bank credit unchecked capital flows moved through markets worldwide. By deregulating and liberalizing those governments became dependent on Financial Markets which by then were an inescapable part of the Economic System. The debt machine was taking shape nearly everyone went into debt governments businesses and individuals. The Economic System had turned into a machine for creating debt. And the banks got rich on the interest paid by borrowed. Credits became the primary fuel for growth but how does created work. Banks possess only a small amount of the money they lend money is created by private banks on a simple request for credit and a promise of repayment. The sum is raised as soon as the loan is repaid that is a huge thing and its. How weve always created money from the beginning and its a wonderful thing if you have a Banking System that can create credit like that is a very good thing. Because it means you can create finance in a crisis you can bail out a id you could finance Climate Change you could you can finance a war and thats how weve always done this the public hasnt understood that the public thinks that money comes from me working hard if you know that for us you know during the soil working hard and at the end of the month i am money we are all wrong bali bomb get rid of it so the it that a 1000000 people or so the renewable. Become leftovers d. L. Says can bury the view of a national. Divide that with a 1000000000 people in raleigh i believe it lives a little malones i would love me to do it because there are no border little locket did the new york city lit up usually like chess or material the order of a new england play with the clay about it long to say about the pieces that are known to go on pieces that are no dollars and source on this was an affix some feel its another name to tell a soul economical love about as good as it to put to the Public Document utility economy manassas on if you know going to tell you going to the Central Banks produce 5 percent of the credit in the world the private banks produce or create art of the net 95 percent of the credit in the world and they have no virtually no regulation over that now what kay has argued in the 1930 s. Was. We must manage this process it can create vast bubbles of debt it can go out of control. The 929 wall street crash in the United States prompted the british economist John Maynard Keynes to warn politicians the credit machine needs to be controlled to benefit all of society not just speculators. When we managed the Financial System between 19051971 there was not a single financial crisis anywhere in the world and then in 1971 the bankers lobbied and they said no no no we dont need controls you know the market will discipline us we will blah blah blah and we began to lift all these regulations and crises began one after the other 1st at the periphery and then in a coup. 1909 saw the birth of the euro and the European Central bank had been created to ensure its stability. At the time Global Growth was strong the level of public debt was starting to decline europe was breathing easy. Confident Financial Markets lent generously to governments and the weakest economies spain greece italy portugal suddenly had access to loans a very low Interest Rates close to those available to germany. That low cost financial windfall was an economic boost all was well thought out. Meanwhile in the United States americas housing bubble was expanding and in 2007 the subprime crisis struck thousands of homeowners lost their homes they had taken out loans with Interest Rates that rose sharply and they found themselves unable to make their mortgage payments. Many banks were in danger. On september 15th 2008 Lehman Brothers one of the largest u. S. Investment banks collapsed elected in. A phenomenal speculative surfin mess because the. Present so that your couscous a posse of honestly didnt so give you the presumptive dont let. Them continue to effect you more on. Debt good with the presumptive the currency get on play. Hockey live for they could have done it. Because it is good with puppy it is surprise to us that in a while the reason. They dont is all they want to have in the coming every other time is developed for. Us ok probably also on our ration the sequel is commercial i took up so i did a fade to distribute he got on tissues with his own it would suggest that the other element was. After the fall of Lehman Brothers european banks with close links to american banks risked bankruptcy in turn. Governments only just managed to save them in order to avoid the collapse of the whole system. No one in Office Secretaries you want to switch on that are keeping your bank to god you have to prove the devil rip it is actually take you on to the proof. If proof dog proof was 300 proof from food new proven food in a prison guard prison going to prison on a system hostile if this was just. In spain and in ireland after the advent of the euro and thanks to loans from german french and british private Banks Developers invested heavily in real estate. And a big dont need to back order to the good media danny and the rest by now are costly to say or bought back to on you can order. Then or small be an old labors why not speak you live on our own nuffin did you blair in Gabby Douglas cause you shift to new york on one dot. Com you loud like were going to you guardedly booklet when im white and order the book. In a battle i guess is the rabbit in blue sybil letty ski said country back they bet kurosawa bark a live cd moby accuracy is lisita. Well i want to go and find out why do support the socalled im sick of you know you dont do you want to last time i did from august i got home and think how to play ping. Pong if you dont know if you also can face of course if he did indeed p. V. If he wanted you what do you want often. Is your deal dead and did you get the peace prize too soon. Is this going to hurt or help Donald Trumps reelection chances it is very true when they face it its somebody on 5th avenue and not have any consequence this is not a muslim issue this is a kill mankind that is to join me in many hot sun as i put up from questions to my special guest and challenge them to some straight talking political debate here on aljazeera. In 2009 a torture victim of the brutal arjen time the dela regime confronted his interrogator who tortured is no no no not the older daughter into i was in turkey has justice now been served for the atrocious crimes committed decades earlier than i do the troopers who are telling lies and investigation into the dark history of argentina why didnt the coup mean the end rewind interrogating a torture on aljazeera. We know whats happening in our region we know how to get to places that others cannot i was just throwing tear gas by the police on purpose as is iraq has the time and its programming to go on beyond some to go live to where another story that may not be mainstream is happening with fires instead on more number of troops. That are being fired minor and shot the way that you tell the story is what can make a difference. Hello entertainer in london with the top stories on our jazeera u. S. President donald trump says his longtime advisor role just stone has a very good chance of exoneration of he was sentenced earlier on thursday to 3 years and 4 months in prison stern was convicted last year of lying to congress witness tampering and obstructing the investigation into russian interference touring the 26000. 00 president ial election prosecutors originally recommended a sentence of up to 9 years in jail but was later reversed by the Justice Department after trunk complained publicly can really help it has more in the end the judge said that she took a look at both recommendations and felt that this should be proportional but at the same time noted that there were very few president s for such a case involving the very close ally of the us president roger stone in the end she did say that she took into account the requests for levy and c. By his friends and family and she also said that she did not in any way pass judgment on roger stone as a person she said shed leave that up to a Higher Authority a vigil has been held in the german city of one hour after a suspected far right attack left 9 people dead or 30 say theyre treating wednesdays shooting as terrorism after a 43 year old man opened fire inside 2 shisha bars before fleeing the scene and killing himself turkey says 2 of its soldiers have been killed and 5 injured in ass trying to smear syrias lived province its military has been shelling Syrian Government positions in the northwestern city of sarky the government captured the city remember those 2 weeks ago as part of its push to retake the last rebel held area. Israels Prime Minister has approved more than 2000 new satellite homes in occupied East Jerusalem Benjamin Netanyahu says he also intends to approve a further 4000 units in the same area a spokesperson for the palestinian president called the move a systematic destruction of a 2 state solution the settlements are built in violation of international law. South korea has reported its 1st deaths from the corona Virus Outbreak as the number of cases globally reaches 75000 has been a downward trend in the number of new cases but the World Health Organization says now is not the time for complacency to stay with us debt machine continues next hour the news after a straight after that he still is he cant after. The 2008 financial crisis threaten to completely disrupt the global Financial System governments made the choice to bail out big banks and to rescue troubled economies. To get home. To make a movie so that the borg posse go skulking be pascoe seat and safe for as old granddaughter. Molly going to have fit but its a club law. Extraordinary extraordinary even. The fairly back. To the pretty and ample to do use of a good box apple aapl. Somehow. Feel better leave. No thanks how the neighbors could be forgotten faster. To the media. A communal dont really. Ask you call it a says do p. C. Signals c c c that is milby real label q. Q. Pretty. Lawyer because if you do see if you can roll a new will function and will close the debunker tapos you couldnt. If governments had to bail out the banks it was because they could not be allowed to fail since those banks are us they are the accounts of millions of citizens we are caught in the debt machine. The economic crisis and the government bailouts of the banks led to a spectacular increase in public debt in europe the deck machine spiraled out of control. The 1st country to declare bankruptcy was greece in november 2009 the newly elected Prime Minister George Papandreou revealed the real figures that had been hidden by the previous governments greek public debt had reached 129 percent of g. D. P. Well above the 60 percent threshold set by the master treaty. He asked for help from europe. Now you didnt make your p. C. Most. Of the dead mice in a room. In n. It will be easy to make and is most ethics is one reason. That announcement was like a bolt of lightning striking. The german chancellor weighed in on the question of did and. Did they all 3 did so good and obama is not an ignorant sort of those are hard work and so i learned the additional unfortunately some long last year they did so called and for tots not the common theme is a note with the mothers of a movie is a lot of them are on their list even being online for the see him and him of you dont he. Was commonly used to one another. In 1902 the master treaty set out the terms for e. U. Integration it forbade the European Central bank from bailing out indebted countries would european governments respect these terms would they guarantee greeces debt should part of it be restructured or cancelled or should they help greece pay its creditors the heads of state could not reach an agreement as europe hesitated and markets speculated on the greek debt of confidence collapse the fear was that if greece restructured its debt might the markets pull back from spain from italy from la belle frost and might not europe bring upon itself the catastrophe that it so wished to avoid and therefore the argument was it is far better to give greece all the money it needs to repay its indebted notes then to run the risk that the market would perceive a sovereign restructuring in europe. As. Is infectious as contagious. Only after 6 long months of crisis europe finally decide its bite resistance from germany to lend greece enough to pay its creditors. A small loan out whenever it has your book your new book go up your suggestion and you can see that ice everybody logged as 1000 overpass unclear cement in his eye fell on i could problem in europe i would eclipse to rub it off because it you know put it in a by you comment unless it be your bell on this you did with this looking as you know we do listen as we know it would dislocate if not it is that accurate last year in a pretty hot baggy accountable me you know number one our own territory all of us cool you want. To do would if you had immediately. Said product is off a discourse or so they set up or bia keep the soups the attic ya sleepy very cool. As you say if you ask about it not one euro of debt has been written down in these years what has changed is the identity of the creditor so money was owed to bondholders in 2010 its now into the i. M. F. In the e. U. If you can solve the debt crisis simply by changing the identity of the creditor and this one is solved. Being in debt isnt only about owing money its also about being in the wrong is the Financial Data but also a psychological debt that weighs just as heavily on the inhabitants of the indebted countries. Debt and. Kind of double jeopardy. Or did you it by sake of insult to decrease your. Oh not distant finis joe just. Says if one day i want to keep ability economy. Just because i happen to live in greece somehow im a sinner im a bad person because of some political axe a done by political representatives of one kind or another. Therefore its ok for people to have their lives destroyed its ok for people to have to tax through garbage and not have anything to eat its ok for Cancer Patients to be denied medicine if were ever going to have morality in the world we need to absolutely reject that logic if theres individuals responsible hold them responsible but dont hold a college to very responsible for the deeds of. To resolve the greek debt crisis the e. U. Granted Financial Assistance in exchange it imposed a draconian Austerity Program the country was placed under stewardship and lost part of its sovereignty it was placed under surveillance by the troika the 3 delegates of the European Commission the European Central bank and the International Monetary fund. Other over indebted countries in the euro zone will be controlled by the troika in turn and subjected to similar was 30 hoga which. Was. The sound of those protests reached all the way to brussels the troika had become a thorn so much so that the European Parliament held a special session about the troikas actions national and european m. P. s questioned european leaders besides they cannot be many up to maybe years to Program Others will be violent as the lover broke out of that other stuff we give a shit that asked them oh yeah it could it because im sure theres the degrees. Yet if you asked again i got these theories a bit bestseller frona yum of the 2 stars though the troika is the lover there may be more going to human more beauty caring for. Yet the method. Valid only mazzy we have here upon this is the problem up to where was the problem of the president i want to make go. And import a parliament in spanish and parliament in evolution Parliament Even though its not so and above our time would start before mine and democratic shall you do about your own guns the needs. Of the program the d. V. R. And all of the guns under fire go. Up thats a decent program in courts with the language the valan. Given to us for. Thats a low but i am absolutely confident sure that if greek did not implement the program the situation will be much worse today i am convinced of that these expressions are trying to follow since no we cease to sense what. It to mean look stuff up reasons that the us yes could put them into susan place names that have been used to deficit because well it is the. Gov contrails. Single you not only that you die its essential but if area nor. North i want to go mia youll go by the north of iraq you open it up to predict which of. You is a disappointment the Austerity Programs were poorly implemented and poorly explained people came to resent you would start to look like an uncompassionate taskmaster all over the continent there was increasing support for nationalist parties and the finance and euro skeptic parties were gaining ground in melbourne if you have been willing to bear on a fair offer for our behavior happy back to that event you are gone after you are going liberate europe from the monster of brussels nuno and comment we should. We can see reaction to the liberalization of fright finance just as we saw it in the 1920 s. And its going to be ugly it will ready is ugly its ugly in greece its ugly in france its ugly you know in many parts of the world where people are saying if my government went look after my interests if my government will not arrange for my young people to have employment then i will look for a strong man who will do that for me who will give me security and give my children Employment Security and i dont care what sort of strong manatees if hes a fascist i dont care if he promises to secure the stability of my life and my people i will vote for him i think thats where we are heading and i dont think our leaders have the vision to understand thats the threat that we face. What are the solutions how. Curd europe curb the debt machine what mechanisms can it use. Could it play on inflation as other countries do. Little as you know jamie almost without it jamie are probably almost out of it somehow always has written war on the for want of us here is covered up i think you better that out for me said out it dont go best is cool with it was obvious that they saw it with us by god missile and im sure as best goddaughter they are now at the base here. Should i get your misandry programs likely to make a fortune for the price coffee yet as we know that a book a minute there i guess that your duty as it were to charge the poor of alberta for the number 2 place and a capacity you know the horses that it. Following world war 2 french and german debt was 2. 00 to 3. 00 times higher than it is today but inflation literally absorbed it. Only but the tell me a little girl openly people accuse do system. Until this is all that it is just in them and they could be prosecuted eliminate unique was when your lawyers who know. About dont know the wa the but when they come on the 1st the 1st i want to know is that would. You put on more do so legally ma. This is your straw which 20 seconds will polluted. Be adored since it is given medina hardware on that origin mark so experts here know we homeschool soft as ice under linux. On this Week Committee politicked are in league and in order to understand we are only. Needed someone so on the server im sure and so into naman i meant to have 3 to sign with an outdoor highs span is a dimension of going to his gate sint does and in via touch on the built we had annoyed over the mouse in riyadh there must be mention arm this condition of coverage of politics and mention on some. Tilt to the bank named to see the hologram and emerald number. Less a closer look at the euro money. The strong euro benefits the countries of Northern Europe but penalizes those of the south. Is the European Union going to fall apart would gross return and reverse the trend. Is for it ive heard issue from kwara go. Video a ghost asked you for made to Police Officers the dead download it off it was also v. N. Cisco f. It said on the nanny who are in class ask him why and sit on it if i had to do post saw or that you saw that it looked at the preuss dont see maggi name good i think i cross off i had to let it off and said ive explored all across all of us on the docket dont so much that im response because if you know suppose go on. Ski fulfill all of us q. Phones is give them for when you wanted to nestles up with dubious going to get the book i dont suppose company did go over an illiterate in that sleazy focus. This was on paul saul so as to do it all more until devean pretty to look at the 2 gay bullied gleg siebold isnt nomen to skew their asses on bozo sill bookham know its a dude little hope gandhi said the new food lepage if you need theres a limit. To have a Monetary Union work effectively. What happens is that the more efficient regions or in the case of the eurozone countries become even more efficient and wealthier the poorer regions or less efficient regions become poorer and less efficient. Italy south was industrializing until the country unified and in the in the 860. 00 s. And seventys and once that happened if you are an italian investor in the south why would you invest money in the south when you can earn more money by putting your savings in milan. Or investing it in the north of italy so the south became steadily poorer so what did the italians have to do they had to get always and they still doing it had to send money to the south regularly not lend money but give grants. And in the old days they had the big gossipy metal door the fund for southern italy which paid out tens of billions of dollars over a century i mean of the endless payments that have been needed the wealthier provinces have to send money to the poor provinces not lend money send it. But there is a catch the master treaty stipulates that each country must manage its debt. Europe is far from being a case of union. And yet in 2012 for the 1st time the president of the European Central bank the e. C. B. Took action. The euro is irreversible we will do whatever it takes we lean our monday night within our mandate to have a single Monetary Policy in your area and to maintain price the 1000000. 00 euro area and to preserve the euro. Ill tend to need to lose or let you know who niggas because you know pretty well and i had on you polly lab and this you even equity in exist about the push to be did dissociate with a Good Community libby less or no more back toward the banks and high up in gesture to actually be directional because what are situational lucian or small maxima pocky precisely what i dont know even exist about me as you all talk about what i most want high up in the details on her litany left was one way to move that i dont want men to not have it when it bad really matters if you know the dentist in atlanta if youre more on talk about sato up in jordan i said. What about simply writing off the debt. Cancellation can be done to preserve the social order because we dont transform it most revolutions involve cancellation of dance ironically german prosperity now is based on the cancellation of german thats after world war 2 it seems very ironic that the german public is absolutely unwilling to even renegotiate debts of countries like greece calling them that centers when in fact all thats were cancelled after world war 2 and it was that freedom. Which actually made the german economic boom last. The recovery let it sit on the finance any political one. Because if it landed it dead goodbye let it via a surrogate is ricky better you will see that youre about to be one or will be is what we are this was about one global act truly those are all they do my go to again is obvious what i said but he did i say good apples not as a hobby or said vance i post on this and i go deeper thought as a hobby at it wolf i believe it was said this wasnt possible to survive it as we will check any good acid at it establishes ascii art it was well look it is having a dog the good of it go look at that he lost it so i vaguely og up as good as like it was on people it like that be so haley back and i posted about he was a member of let me get rid. Of a known 6 and you still have to search for the prince you be a leg i spy and do not a rodeo like that is due to be president who as you called him for truly good can but he is going to use them physically like me but i have a you can travel to name list if you want to be public noble and support him 6 wrong leg is 2 thirds of s. Are. Good men best cure is you she. Is wrong you dont fall over years from top to finish knows you need to be gone all in wont for certain or youre not alone do exist unless. There were a system she used if just any i want bastien about on and dont include in a strong fiscal cliff vote and they miss you too messy the. Damage done is what he put it quote. The least personally as we know. The e. U. Has long been powerless against tax evasion switzerland austria and luxemburg have always championed bank secrecy the e. U. Has taken action requiring increased transparency. If you know. What thats. You know. Thats what im at. Someone. Will for the well theyre going to is going to call dominic welcome to dont disturb about it on t. V. All failing this she did love an illness joycelyn enough for me domicile to go on and i dont know it all. Alone on the monitor that mischa all of newmont but it is the longer so were going to cause we mara with all that economy getting more external. Produce to democrates you see the view that he had to have you dont look at p. Diddys it played live you know and she said bouncing off on it when elam is a real good on clip ons for cars but between theres not a to do are to do what you want to keep ability to learn i bet you dont do well such as youre going to miss a conclusion is it to do so should. Today date the economy and finance an ever present Global Reality we are all caught in the debt machine the debt its grip and its dictates have insinuated themselves into our work our relationships and our lives. Only time will tell if we can actually afford this must a 7th relationship to date. Color i wish id say some slow. The quads weather coming into western parts of australia over the next day or so travel right now making its way towards new zealand the be some wet weather coming through here so dry skies there into victoria into New South Wales up towards the top and this area of low pressure im a well developed into a tropical psycho through the 2nd part of the weekend so early next week we could see some very wet weather pushing in across the far north of australia could see the circulation beginning to get its act together and as we go on through saturday because it becomes more of an expansive feature across the gulf of carpentaria and by saturday its pretty wet weather there into central parts of queensland as well few coastal shows for the east coast there well that would be dry temperatures of 22. 00 celsius could be largely dr perth of the char system shower says you can see one of 2 showers there into that western side of australia may well we see want to see showers making their way into the western side of japan over the next day so this area travels spill across the yellow sea and make its way across the Korean Peninsula and eventually it will gradually push over towards honshu towards q. C. Some wetter weather and at times some wintry weather coming in here well see a top temperature in tokyo sheltered at around 80 degrees celsius. Australias unchristian entered fire season has killed more than a 1000000000 animals. 101 aced investigates a wild one from urgency. On aljazeera. Motor sport is big news in libya but staging car and bike rallies here comes with its own particular risks our club couldnt take part in the 26th rally because we were fighting a war as i said sir Al Jazeera World travels to the Libyan Desert to see how school talk for we can be a unified force in old wachtel country video a rally for hope on aljazeera. Its a tough time for the Afghan Security forces taliban attacks have increased suffering heavy casualties and the prospect of a withdrawal of u. S. Forces hangs over them yet young men are still joining up some for putting reasons for others is the only way to get a job despite the risks midways karimi was an Army Bomb Disposal engineer in Helmand Province he knew the risks he was blinded in both eyes and lost a leg when a roadside device exploded as he tried to defuse it always aware of the danger of seeing friends wounded while working on mines i wasnt scared to lose an arm or a leg is to sacrifice we have to like to serve this country. 0. This is the news hour live from london coming up. Donald trumps long time ally just stone is sentenced to more than 3 years in jail but the u. S. President says he could be exonerated. Shock and grief in germany as people pay tribute to 9 victims of a far right attack. And a breakthrough in the worlds youngest nation south sudans rival leaders announce