They took credit for downing a Russian Airliner over egypt last month, killing all 224 passengers. I am pleased to have andre back at this table. Lets begin with some thing you know a lot about, the russian economy. Assess where it is today. Andre the russian economy is in negative growth this year but starting from next year, we expect some economic growth. After the first shockwave of Lower Oil Prices and sanctions and bad Commodity Prices for other russian commodities and slow growth in china, all the sectors i think we understand the economy will be growing. It will have to adjust to new conditions. Charlie rose the decline of oil prices and the expected gas prices as well is the most Severe Threat to the russian economy . Andre it is but already the next budget is based on the assumption that oil prices will be around 50 per barrel. I think that is a reasonable approach. At this level of oil prices they can cope with the budget spending and have maybe slight economic growth. Charl
Rates before the end of the year . Brian i think yes because that means economy is growing and it means we make more money, but the reality is everything we see, it is. Charlie rose your instinct is it will because janet yellen has signaled it . Brian they have been pretty clear what the market. I think the statistics that have come out since last time, they have the consideration that would favor it. With a large bank, it is hard to predict what the fed would do. I think you back off and think about the economy. What we see is consumers are still spending. Businesses are still borrowing. There is oil and gas. Those are retracting because of the oil prices. Overall, the u. S. Economy is in good shape. Charlie rose what is the pathway to growth . Brian we have 2. 5 predicted for this year and next year. If you think about going into the end of last year into 2015, our economists were up over 3 for this year and thinking of growth from there. It did not come true. That creates a sort of
Steve forbes and Elizabeth Ames trace our current economic troubles to the end of the Gold Standard in the 1970s and discuss what a weak u. S. Dollar means for the Global Economy. They called for a return to the Gold Standard to help stabilize the economy coming up next on the booktv. We are very privileged to have with us this evening a very recognizable figure in the media and business world. Steve forbes is of course editorinchief of forbes magazine, the nations leading business magazine, and he is headed a Media Company that includes not only asian and european editions, but a number of Web Properties focus on politics, sports and financial markets. Many of you will also remember steves Spirited Campaign for the republican president ial nomination in 1996, and 2000, during which he promoted the idea of among other things a flat tax. Along with the new Social Security system, medical savings accounts, term limits and a Strong National defense. This evening steve comes to us as an au
Im guy johnson. And im francine lacqua. Talks are ongoing between greece and the euro area today as the greek government looks to carve out a new bailout contract. Lets get straight to hans nichols in brussels. What is the most Important Development in the last 24 hours . Good morning, francine. They do have these technical conversations going on for a longterm program. They want to agree on all the numbers. Eu officials, technical advisors, and greek officials. They are going to have a political agreement. We dont have a political agreement yet. We have an agreement to go through the numbers and continue the negotiating process. They need the same data sets and that is why we need to have thats why it is important that you do have these numbers. Angela merkel is positive. She says that mr. Tsipras was someone that she could work with. We gave each other a friendly greeting. I congratulated him on his election win. I told him that from my side we want to work well together. We will tak
Lacqua. We are getting breaking news from the eurozone. Pmi figures coming in below estimates. Euro area manufacturing pmi falls to 51. 9. It is not surprising. We had not only a weak but a weak german number had an impact on this eurozone manufacturing pmi. Guy it was interesting listening to the minutes out of the bank of england yesterday, suggesting that the slowdown in the state is temporary. May some evidence beginning to emerge that this very early recovery in the eurozone is starting to falter a little bit. Francine eurodollar, 1. 06. You can see the drop. That is when the german figure came out. The European Central Bank Emergency funding for greek banks. This comes ahead of a meeting today between Alexis Tsipras and Angela Merkel on the sidelines of this european immigration summit. Reports of a softening stance from the eurozone on reforms is what we in what weve been hearing. Hans nichols joins us from berlin. Nikos joins us from athens. Hans, what does the ecb limit tell u