good to have you with us, if you havejustjoined us, it is time to get to business. economists warn the global economy is at a tipping point, and what can be done to prevent a global recession and stimulate growth will dominate discussions at this weeks annual meetings of the world bank and international monetary fund. the imf is set to downgrade its current forecast for 2.9 percent global growth in 2023 saying there are rising risks of recession and financial instability. the global economy faces pressures on every front whether it be increased interest rates to bring down soaring inflation, a strong dollar, the aftermath of a pandemic and of course the economic impact of the war in ukraine. to talk us through the challenges i m joined by holger schmieding, chief economist at berenberg. good morning to you. what are you expecting to hear from the leaders at this event in washington this week? good morning- washington this week? good morning. you washington this week? good
the longest distance ever travelled for a north korean test flight. the missile went far enough that it would have reached the us island of guam with a different trajectory. and so there was a swift response. the united states and south korea conducted a precision aerial bombing exercise to demonstrate seoul and washington s will to respond sternly to the threat from pyongyang. and tokyo was also incensed. translation: north korea s launch of a ballistic missile is a reckless act that absolutely cannot be allowed. japan will be on the highest alert and respond quickly. speaking to the bbc, the us counsellor of the department of state derek shalet said it will take a complete international effort to achieve denuclearisation on the korean peninsula. well we are going to continue to press forward with sanctions against north korea and enforcing those already on the books pursuing new ones perhaps, but also importantly working with our allies and partners and also other members
It is that logic that perhaps explains why there are now only 42,000 staff in the National Offender Management Service in england and wales, while there were 19,000 back in 2010. But the logic of cutting prisons has perhaps reached a limit. The pressure of fewer staff in overcrowded jails has seen violence rise towards staff, other prisoners or in the form of self harm. Bad things are happening in ourjails, and its no surprise the president of the Prison Governors Association has written an open letter attacking the governments management of prisons. Heres elaine dunkley. Violence and rioting, volatility has gripped prisons in england and wales. Run. The pressure in our Prison Service building for staff and inmates. Get down. A breakdown in Law And Order caused by a shortage of staff and a growing Prison Population. A toxic mix according to the Prison Governors Association. Attacks on prison staff and drugs academic increasing concern around Mental Health and overcrowding, resources an
i m eric burnett. outfront tonight, how much will it cost to bail out europe? $1 million. just like dr. evil in austin powers, that s not enough. $100 billion. nope. even a super villain would not ask for a number this big. the final number to bail out europe could be closer to $6 trillion. so take a deep breath. i ll get to the grand total in just a moment. because just days ahead of those crucial greek elections, spain asked for $125 billion to bail out its banks. and that s just the beginning because spain is only one of several european countries lining up for more money. spain, portugal, ireland, greece, already have asked for $615.5 billion. but does it add up to enough to save them and us from more economic calamity? sources tell outfront, not even close. one of our most reliable sources says that all estimates to date on how much this is going to cost have been wrong. he warns about a domino effect, most notably on france and says we re not even close to