Welcome european leaders have seen the deal on an unprecedented 750000000000 Euro Recovery Fund after 4 days of heated talks leaders finally agreed on the details of loans and grants to be given to countries hardest hit by the pandemic for the 1st time ever the aid will be financed by borrowing of the 750000000000 euros 390000000000 will be in the form of grants the remaining 360000000000 euros will be dispersed in the form of cheap loans now its a compromise that satisfies the demands of fiscally conservative countries. Good morning everyone we did it europe is strong europe is united level for these were the words the delegates have been working towards a deal has been done and the wrangling can stop everyone can go home some kind of win or relief was visible on their faces despite the masks. Chief Frances Emanuel mccall and ursula fund the Line Commission president plus standing tallest of the mole. From the netherlands. He had led the group whod limited the grants and made them con
The cracks in europes foundations. Carona recovery deal can the e. U. Rebound thats our title. And its a pleasure to welcome our guests eric is an american journalist who has written for the Los Angeles Times amongst other Media Outlets and he says the summit exposed once again how much disunity there is in the European Union. And were very glad to have with us pavel took of tomasky he took us to excuse me he is a polish economist and senior associate at the German Institute for international and Security Affairs he says we must reform the Member States now or will face the same problems again with less time and fewer instruments. And great to have with us once again. That casting emily and she is Deputy Editor in chief is the Parliamentary Bureau of the german newspaper sudarshan sayto and she says the deal is far from perfect but it is a signal that multilateralism is still alive. And let me start with you cast him and ask for your take on the big picture there are a lot of super liv
Recovery fund. The agreement would be very bad not only for europe but for the markets. Ericsson tops the stoxx 600 as european roll out drives demand but the leader says hes worried europe is missing out. China has accelerated the rollout and it continues at a high pace in north america so 5g is happening at an increasing pace in the world i worry that europe is falling behind daimler shares accelerate as more cost cutting forces the carmaker to halt production of mercedes demand in u. S. And mexico as it reveals a 1. 7 billion operating loss for the Second Quarter the last dance for a lockdown growth shares plunge in extended trade as the streaming giant adds 10 million subscribers but warns growth will grow sharply to its weakest level in years beginning shortly, some comments crossing from the European Commission and she has effectively said that these stakes couldnt be higher and all necessary pieces are on the table and a solution is possible from her leadership perch hoping a de
A german turkish journalist who almost 3 years in prison for spreading what it calls terrorist propaganda berlin says the sentence sends the wrong signal for human rights in turkey. And this town and germanys black worst is the base for a man down its 5th day and is of police are searching for a man who disarmed 4 officers and escaped into the mountains with their weapons. Im brian thomas good to have you with us today the e. U. Is at a crossroads with Member States looking for leadership and cash to bolster economies that have been hard hit by the covert pandemic and lock downs chancellor merkel is chairing talks in brussels that have brought leaders face to face for the 1st. Im in months she wants to persuade the blocks richer nations to issue direct grants to countries like italy spain and portugal to help them overcome the worst of the pandemic but well off members like austria and the netherlands want to see tightly controlled loans instead the 750000000000 euro rescue package is
Expiring ones. The dollar index in weakness, 1200 right now and continues to slide down over the past four weeks. The dollar moving average 200 day the lowest average in recent weeks. Citi says looking at a 30 possibility that gold will get to 2000 an ounce in three to five months. Stocks rebounded yesterday after slumping 5 . China up 1. 3 , turnover has receded from its highest levels since 2015. The hang seng up 1. 6 , biggest increase since july 6. Tencent adding 5 . Alibaba is the one to watch, surging 5 . Ant financial look at where we are in terms of the Southeast Asian markets. China up by 0. 5 . Sti up 0. 7 . Theaad we also have European Union leaders running a policy marathon as there planned two day meeting to pass a massive Recovery Fund. In the u. S. , republicans and democrats are starting to hammer out a budget plan this week. Our policy editor Kathleen Hays is with us. In both cases, agreeing on a we are getting some murmurs of an agreement. We certainly are, and we kno