hundred fifty seven people have been injured on sunday in fighting with israeli forces in the occupied west bank jerusalem and gaza unrest is spreading following u.s. president donald trump's decision to recognize jerusalem as israel's capital security forces used tear gas and water cannons to disperse protesters outside the u.s. embassy in beirut lebanon is home to almost four hundred fifty thousand palestinian refugees zain hodder was at the protest. seventy security forces are using high water cannon and tear gas to disperse the crowds several hundred people gathered outside the u.s. embassy in beirut to protest the u.s. decision to have ignited israel is the capital of to recognize jerusalem as the capital of israel palestinian of a newsgroup several hundred protesters stairs trying to reach the u.s. embassy compound but security forces have cordoned off the road to preventing people from approaching further people being pushed back from the smell of the teargas people are angry there's defiance oh they're chanting. they're chanting words against arab leaders saying that they haven't done enough to to confront the u.s. decision that words are not enough they want action they want the peace process to be declared that they're calling for they're supporting a new intifada and calling on person in me to lead them to stop talking and moving any dialogue with israel. or tribes decoration on jerusalem has been condemned around the wild shot at by this reports now in protest spanning three continents. for many this is not a geographical issue but a muslim one is stamboul transformed into a sea of turkish and palestinian flags i feel like i should defend our sign because i don't know any i don't know any other way to defend them so this is what i can do this is the least that i can do president reject type to one has been one of the most vocal critics of trump's decision he's called for a summit of islamic countries a wind stay. and in asia a different language but the same words. please president trump use your brain to not push on and get beyond the limit with patient enough america please go back withdraw yourself from jerusalem jakarta indonesia the capital of the world's most populous muslim country president george who would order chordal muslim countries to unite and rejects trumps move indonesians voice their anger outside the u.s. embassy. and then rabbet the moroccan capital. to. the yell slurs against the u.s. president with banners that read drusilla in is the capital of palestine in the crowd a government ministers and officials the an army of pro palestinian protesters rolled down cairo streets cell phones held high the the muslim solidarity even spread to the embattled nations of yemen and syria was the permit live city to daraa where the syrian uprising began the global to sin against the u.s. embassy in jerusalem marched on charlotte dallas. well in on the developments the israeli prime minister benjamin netanyahu has been meeting with the french president in paris a man who strongly criticize the u.s. jerusalem move called on israel to end the construction of illegal settlements as a gesture of peace but netanyahu says trump's decision many recognizes realities on the ground. living to our other top stories this hour the international campaign to abolish nuclear weapons has received the twenty seven nobel peace prize in oslo the nobel committee praised i can for drawing attention to the humanitarian consequences of using nuclear weapons the group is edging all nuclear powers to adopt and sign a u.n. treaty to ban their use. california's governor jerry brown says devastating wildfires fueled by climate change are the new normal strong winds that have stoked wildfires across the state are expected to return in force on sunday about five thousand five hundred is of help to battle the six large wildfires which erupted on monday night. as the headlines say without is there more news late. date 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. it's 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 you're on it very hard to get off let's see if i must use them to look good also. but on that let's start over and create a system of credit and which would actually be sustainable which wouldn't destroy the planet as the current machinist to a. diminishing up idea can that creaks is one of them to a piece on duty do test them come. as you came out there second it appears paramedics on it it said produce a live wire problem sick over to that somebody to say that was a reactor and then you guna miters a power and i deny me. that she only said that then on any. when it's date 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. thanks love to make loans to sovereigns why because behind the sovereign are millions of taxpayers and they're not like the shoppers or it's not like the consumers in a business because those tax payers never go away there's a new one born every single day and they're going to pay taxes for the next one hundred fifty yes unless the country collapses so why wouldn't you lend to them because you know you're going to get your money back you know there's no bankruptcy law you know that you can always make a profit on it's safe lending whereas if i go to a firm that wants to innovate and produce a new asset you know firm that maybe once it is decided they want to build steam engines and seventeen hundred or something i don't have to risk assess the risk. well that's too risky why should i invest in that why don't 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 effectively backing up this debt so i fear of taking risks in. government data has soared into the trillions of dollars in euro zone countries but those figures don't really mean much if you don't compare them to the wealth of a country its gross domestic product or g.d.p. . the country's debt is measured as a percentage of g.d.p. here debt represents fifty percent and here one hundred percent of g.d.p. . in one nine hundred ninety two maastricht treaty laid down the terms for an integrated europe. in order to keep debt from getting out of control experts agree that a country's debt should not exceed sixty percent of its g.d.p. but that critical threshold has been largely exceeded by most european countries he joins us from get us what he can ask about it some more now we have a pretty up with the beauty of rio my thought abroad you did 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 dates be repaid how can we ever get out of the spiral. if you put two on both in that as in i guess your yet divvy almost have a dead to cvs everybody's word. or junkie was up i think they sell out they're covered with i don't know but a lot of that sean paul is exam proof for saying of all. says that they did to cause like the balliol were tossed him it on bossie well at roxborough years to get the. reply up but it ignored a berkut physic but usually quite they're about horse why it's not all up his horses off is it what you have 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 don't have cash. private data has always existed but government data first emerged in italy in the major trading cities during the late middle ages. florence jenner and venice were constantly at war which cost them dearly. to pay for those sovereigns borrowed from prominent family first government bonds were traded paying interest. those prominence creditor families founded the first 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 second world war in one nine hundred forty five america's marshall plan granted thirteen billion u.s. dollars in aid to europe's industrialized countries exceptional growth followed and the thirty years after the war were good. so good that they were known as the economic miracle in germany and the glorious thirty and france business was brisk industry was in full swing and the growth of consumption was spectacular. so he quit the polytunnel news unit on the his basically put it to school august i'm suited for humanly move be doable dyslexia will be and cause so much from your machine if we were to do our or figured on by your film end of august to show the doc opportunity would be filming on in bungay us you didn't resign i wanted barry was at our cinema in the closet saw you there on time the b.b. was an image will be a few miles of iraq good will be buried. in croissants. by the end of the post-war boom in the early one nine hundred seventy s. government debt in europe was a great called lows thanks to growth and inflation but the economic machine would soon be upset by two major events. good evening on august fifteenth one thousand nine hundred seventy one richard nixon 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 read that 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 monitoring ability and in the best interest of the united states. but it was not a temporary measure at all the us president definitively kept the fixed relationship between the dollar and gold. the donor became a floating currency like every other currency a round the world. all the currencies of the world that were either tied to the u.s. dollar of the british pound by nine hundred seventy one we're now pure fee at currencies they're not backed by anything they're 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. two years later in one thousand nine hundred seventy three another major event occurred the first oil crisis. in one year the price of crude oil soared going from two to six dollars about my. normal necessity to be going to meek as a kid you'd be a pretty big car or to dinner sometimes i could use a swiss on this subject don't include the obsession of the felt a minute ago to miter and seems like democracy it would set up a forty minute no one knows on one that the knowledge will not suddenly produce be colored boozer. comedy block no i'm pretty exact monem shoes but it was. a sudden increase in the price of oil weighed heavily on the world economy. it 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 government inflation became a new enemy to be defeated at all cost. to remove all kernels on loan would have less yield a brief every stop at all those are the five always easy ways to slow yeah fellow easy late plus will this no see you for vallecano me community she's really out there seek over the andris around you cause i said i used to are classic you just don't call me a serial if i was eagleman known gone by gar on third credit during a debate you feel silly it put you to such an icon by the convo oppa like you the idea to dish while much other fast your mature the money for today are see . but really dig that do the kills you simply did before iraq i'm done it can go years it is on top on early because if there are so many to not exist before or is it an economy to defeat it on a cyclical season was when to go to make it up it will moan it it is on was under the economy all i wanted to fault was this additional lies of trying to put in for a job as good that to develop is to credit continue pretty good continue on will see that. noble. i don't know not honestly yelling. completely ga. that he knows will be so hard. when we let it be weeks on a back to the hard basket will be the kimosabe on the day. if you didn't know but starting in the one nine hundred eighty 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 and 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 it's. how we've always created money from the beginning and it's 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 that's how we've always done this the public hasn't understood that the public thinks that money comes from me working hard if you know that for as you know day in the soil working hard and at the end of the month i earn some money. a lot wrong bali bomb the bridge all of it so the it that a million people or so the renewable. become left on his deal is going to bury the view of an awful. void that would be empty bleak rollie i believe it lives that i'm a lawyer or for me to do it because there are no border little locket did the new york city lit up usually like there's some of it there they're all of a new orleans. clear about it gong to say about the present on the go on pieces of the no dollars and cents on this persona for example if you is that all done in detail and it's only going to make a lovely pop go to to produce the product document or to dilute economy manassas on if you nasi going to get a little going to the central bank produce five percent of the credit in the world the private banks produce or create out of the net ninety five percent of the credit in the world and they have no virtually no regulation over that now what kay has argued in the one nine hundred thirty s. was. we must manage this process it can create vast bubbles of debt it can go out of control. the nine hundred twenty nine 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 one thousand nine hundred five one thousand nine hundred seventy one there was not a single financial crisis anywhere in the world and then in one thousand seventy one the bank has lobbied and they said no no no we don't 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 first to the periphery and then in a coup. one thousand nine hundred nine 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 well out. meanwhile in the united states america's housing bubble was expanding and in two thousand and seven 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 fifteenth two thousand and eight. one of the largest u.s. investment banks collapsed elected in one was. a phenomena speculative surfin must begin to misunderstand the. present so that your couscous a pricey i've honestly didn't mongols or so give you the presumptive don't. continue to see the effect on to see debt good give it a presumption the currency get on play. good hockey live for it could have done it . because it is good with poppy it is surprise to us that in a while the reason. we don't have it the coming every other time is developed. ok about the russian the sequel is commercial good. so did i fail to disagree go on this is what is on it would suggest that the deal in amongst us. 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. and on and off a separate issue one a suture that are keeping no bond to god you have to prove the devil rip it is actually take you on to the proof. if proof dog proof was three hundred proof or food near proven food in a prison guards in prison going to prison on a sustained pleasure 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 don't need to back order to the good media define the interest on your coffee to say or book back to on your longer. then or small be an old labors why not speak you live on our own offended you blair in gabby douglas cause you shift to new york on one dot. com you're allowed like we're going to you guardedly book we going to write an orderly book. about who are. it in sybil let the ski said country back they bet your salad bar a live cd movie yet you have the big lisita. ducasse well i want to go in front of the support they also called it a sect of you know us if you don't do you want america let's go get him or you can audit the drum on gas i got at the whole mall to play picked subi but maybe on bach if you know he also can face a cost that he been did you believe in that p.v. equals abba don't leave a do good with a mouse that you don't often do that that people. witness documentaries that open your eyes at this time and. the latest news as it breaks the last time senegal qualified for the world cup was in two thousand and fifteen years old and hope to do even better in russia next year with detailed coverage try to imagine it only seven years ago people were living right here from a shrimp now defeat has taken over their land from around the world donald trump is promising a major policy announcement on trade a potential challenge to khorat a missed opportunity abroad. if you are in beijing looking out the pacific ocean you'd see american warships. somehow time is aiming to replace america and go around the world while the chinese are not that stupid these guys want to dominate a huge chunk of the planet this sounds like a preparation for our first president george washington said if you want peace prepare for war the coming war on china at this time just so you. know i'm in london here's a quick roundup of your top stories about a sunni and right present says one hundred fifty seven people have been injured on sunday in fighting with his writing forces in the occupied west bank jerusalem and gaza they were protesting u.s. president donald tom's decision to recognize jerusalem as israel's capital levels have been violent confrontations in neighboring lebanon which is home to some four hundred fifty thousand palestinian refugees security forces used tear gas and water cannon to disperse protesters outside the u.s. embassy in beirut demonstrations were also held in turkey egypt morocco and indonesia. in other developments the israeli prime minister benjamin netanyahu has met the french president in paris emanuel mark ron who strongly criticized the u.s. tourists a move called on israel to end the construction of illegal settlements as a gesture of peace but netanyahu says trump's decision merely recognizes the realities on the ground the sooner the problem students come to grips with this reality the sooner we will move towards peace and this is why i think president trumps announcement was superstore and so important for peace on the quest for peace there is a serious effort underway know by the united states and all i can say is i said related to president mccall i think if you'll pardon the expression you should give peace a chance in our other top stories the international campaign to abolish nuclear weapons has received the twenty seventy nobel peace prize in oslo the nobel committee praised icann for drawing attention to the humanitarian consequences of using nuclear weapons the group is all nuclear powers to adopt and sign a u.n. treaty to ban they use it's also warning of an urgent threat of a tensions between the u.s. and north korea california's governor jerry brown says devastating wildfires fueled by climate change jobs and new normal strong winds that have stopped wildfires across the state are expected to return in force on sunday about five thousand firefighters have helped to battle the six large wildfires which erupted on monday night hundreds of buildings have been destroyed and vast areas of land have been badly scorched nearly two hundred thousand residents have also been evacuated from their homes going to bring you continuing coverage of those wildfires in california and our other top stories in the news hour in twenty five minutes time i'll see that. the two thousand and eight financial crisis threaten to completely disrupt the global financial system governments made the choice to bail out big banks and to rescue troubled economies property removal they get home they go home to make a movie set at the l.a. borg posse go back so melissa huckaby pascoe see and safe. little model economy goof it's a club law doesn't put extraordinary extraordinary even. the fairly. laid back if you don't see the proof with a pretty an opportunity do you. have a good talks are about some. good summing up of the. best little attack as you know extraordinary back appears again fast. to me that. she'd be a. little visitor could see people. don't read the book. busk 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 learn a new real fix human will close to the donkey populace you couldn't. 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 iraq the deck machine spiraled out of control. the first country to declare bankruptcy was greece in november two thousand and nine the newly elected prime minister george papandreou revealed the real figures that had been hidden by the previous governments greek public debt had reached one hundred twenty nine percent of g.d.p. well above the sixty percent threshold set by the master treaty. he asked for help from europe and. now you do some a good to see most. of the dead mice in a room. in n. it will be easy to make and is most exes well you know in reason. that announcement was like a bolt of lightning striking. the german chancellor weighed in on the question didn't. they all three did so good and oh by the end. of this i was going so i will miss you get in line for. one long view of so-called end 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 don't have a gun most commonly used as a model. in one thousand nine hundred two 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 with a guaranteed leases 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 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 and dead and then to run the risk that the market would perceive a sovereign restructuring in europe. as infectious as contagious. only after six long months of crisis europe finally decided by resistance from germany to lend greece enough to pay its creditors. a small on up whenever it has you broke new on look go up we'll sit there and you can see like i said we batten a lot less you know over the overpass unclear cement in his eye fell on i could problem in europe i would be close to rub it off because it you know put it in a buy you come in unless it be your bell on this you did with this looking as you know we don't listen as we know it would dislocate if not it is attacking here in a pretty hot backyard not for call me you know number one our own data to all of us cool. pre-book to do or dip in it immediately. said brought it out i guess off it gets closer so they said barack obama keeps the soup's the attic yasi p.v. . as you say if you ask about it not one euro debt has been written down in these years what has changed is the identity of the creditor so money was owed to bondholders in two thousand and ten it's now on to the i.m.f. in the e.u. . if you can solve a debt crisis simply by changing the identity of the creditor and then this one is solved. being in debt isn't only about owing money it's 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 was sick of itself to decrease your. oh not days to finish joe bus. says if one day i want to keep ability economy. just because i happen to live in greece somehow i'm a sinner i'm a bad person because of some political acts done by political representatives of one kind or another. therefore it's ok for people to have their lives destroyed it's ok for people to have to tax through garbage and not have anything to eat it's ok for cancer patients to be denied medicine if we're ever going to have morality in the world we need to absolutely reject that logic if there's individuals responsible hold them responsible but don't hold a college to very responsible for the deeds of people. 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 three 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 thirty five which. 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 troika's actions national and european m.p.'s questioned european leaders use us they cannot be many ups you may be years. to program others will be violent as the lover but all of that other stuff we give us is that i ask them oh yeah it could it because i'm sure there's the decrease. yet if you asked again i got the stare you said that there said arthur oh yeah yeah i've got the stars though the troika is the lover there matey the more credit you know me more p.c. care for. yet the method. valid only me i have a job i hear pundits who stop probably my two heroes here to promote the clothes then i want to go in. parliament in portuguese in parliament in spanish in parliament in evolution parliament even though it's not so and above i don't want to go for mining and demagoguery surely you do much your own guns the needs. of the program are developed. in and all of the guns under fire go. up that's about to be decent program in courts for. valan. that's a lobed i am absolutely confident sure that if greek did not implement the program the situation will be much worse today i am convinced that you have used this experience to try to put on sense no we cease to sense what. it means look stuff up reasons yes quite alarming to susan. is the deficit because well it is the. contrails. it was a lot but if area you know sunita it will but not me or not. 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 do their own of their own good for or be very happy. if they are regarded alan liberate europe from the monster of brussels nuno and who meant we should. we can see reaction to the liberalization of fright finance just as we saw it in the one nine hundred twenty s. and it's going to be ugly it will ready is ugly it's ugly in greece it's ugly in france it's 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 don't care what sort of strong manatees if he's a fascist i don't care if he promises to secure the stability of my life and my people i will vote for him i think that's where we are heading and i don't think our leaders have the vision to understand that the threat that we face. what are the solutions have. curd europe curb the debt machine what mechanisms canada uses. could it play on inflation as other countries do. little as you know jamie almost without it germany are probably almost out of it somehow always has little on the for want of us here by day investor that out for me said without it don't go best is cool with it we obviously they saw it with us by god missile and i'm sure as best goddaughter they are now at the base here in waiting should i get your misandry programs likely to make a fortune for the price coffee yet as you know that a book a minute then i guess that your duty as it were to charge the poor of alberta for the number two place and a capacity you know the horses that it. following world war two french and german debt was two to three times higher than it is today but inflation literally absorbed it. only but the delmarva little girl openly people at the job i could do system the key until this was all that it was just in them and then it would be. eliminate unique when your lawyers who know. don't know the war but harmony come on the first and the first i don't is that would. you put on more do so legally ma. this is your story twenty seconds from polluting. your dogs in the school madonna hearten where only a dog and mark so expertly are known the homeschool shaft is ice under linux and it's off on this big committee politicked are in league and in order to understand we're only. needed someone so on the server i'm sure and so into naman i meant to have streets to sign with and how to organize dustiest banners are there mention of going to his gate sint does it end in viet tut on the alkie a guilt ridden oil by 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. before it hurt i've heard at least two kwara go. video that you form at the prison proves that download it off it will get across also when it's going off it said on the nanny who are in class ask them why and sit on it if i had to do pull saw or that you saw that it looked at the preuss don't see maggi name i think across all of our annual i did office and i've explored all across all of us on the doctors don't so much but i must point because if you know suppose go on. ski fulfill all of the phone says give full when you want within a sleeze up to do because you just did i don't suppose company did go over an illiterate in that sleazy focus. this was on paul saul so as to do it all more and to live in gritty. but do gay bully gleg siebold isn't nomen to skew the answers on bill's own sil book obama says dude little hope gandhi said the new food lepage if you need me. 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 eight hundred sixty s. and seventy's 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 then the old days they had the big gossip area metro draw the funds for southern italy which paid out tens of billions of dollars over a century i mean of 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 two thousand and twelve for the first 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 live in our mandate within our mandate to have a single monetary policy in your area into the prize the million euro area and to preserve the. i don't indeed need to lose or let you know who niggas because you know pretty when i had on you plan lebanese you even here it would be in exist apart the push be did dissociate with the gift khamenei libby lesser know more but torn that box on high up in gesture to actually be directional as well as situational lucian or small maxima to keep precisely what i don't know even exist about me as you all talk about what i most want hi all been did you feel lost on her litany left was one way to move that i'd walk home and do not deny it even that bad really matters if you know how to get back to dentist in atlanta if you're more on talk about some follow up in jordan i said. what about simply writing off the debt. cancellation can be done to preserve the social order because we don't transform it most revolutions involve cancellation of downs ironically german prosperity now is based on the cancellation of german that's after world war two 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 debts were cancelled after world war two and it was that freedom. which actually made the german economic boom. the recovery let it sit on their hands any political one. because if it landed a dead gerbil let their head via a surrogate is ricky bet as you will that you're about the one all of us have a beard this was about one global act truly does not mean millions of all day do my go to again is obvious what i said but he did i say go up a thought as a hobby or said events i post on this and i go deep others will be added wolf i believe said. the surviving it as we will check any gas have at it established ascii art it look it was well look it is having a dog who did it go look at it he lost it so i vaguely audio gap was good was like it was on pubic like they'd be so heavily bad apples are about he was a member of familiarity. of a known six and you still have to search for the put you beat to put on a good leg i suppose when the models or your legs do therapy bruce don't do as he could have virtually given but he was going to use them for skill like never have a you can travel to new list if you want to be public you know you support him six ramallah i guess two thirds effects are. eleven good men best cure is you she. is wrong you don't fall over years from part of illusion as you need to be in vogue fonso is not among well known do exist unless. there were a system she used it just any i was passed on about on and don't encode initial fiscal cliff vote and they get the constants you know dimity the. damage done is what he put it quote. the least person is one of. 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 i thought of it you know. as well in that that's not a thumb with a nipple objective. to form the world of the good news gone the garlic welcome the don't disturb the body don't teach to get off this you did love an illness your son in law for me domicile the garden i don't know him or bottled. water and all the little that mischa all of newmont but it will this is the longer so we're going to cause we more or with all the economy getting more extreme nor. do i do the democrates receipt of you levy a grave you're not little peter is it clip of your aunt and she said bouncing off but only when elam is a real good on clip ons for his property there's no need to do up to do what you learn to keep ability to learn i bet you don't do well so i said you're going to be sick and this is a 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 seventh relationship today. hello the weather throughout australia is relatively quiet there are a few showers building onto in queens and something else on here west australia and a big white top thing right in the middle of nowhere that'll bring some rain but really we're talking about warm start to summer this is the color background you see person twenty nine in the red and that extends through queens and but then bottom corner i'm afraid victoria new south wales in their twenty's will warm up again adelaide up to twenty nine after all and this is a center circulation a whole lot of drifting so east was so from twenty two all monday you should get to something more like twenty seven on tuesday much the same as sydney and brisbane to be honest hotter in south australia but person by this time the girl on shore breeze it down to twenty four mostly dry picture you'll notice which is a bit of a contrast what's happened recently in new zealand where you've been sitting pretty and these are the cycling for a week or two that's been pushed out of the way broken through so you think it should be cooler not really i think you see twenty one twenty two twenty three degrees typically anyway but there is an onshore breeze as more cloud and so right in south and i think wanting to stay in the sunshine the day after we got to tuesday was time temps are much the same but the weather's a bit gotcha. the world's largest humanitarian crisis millions caught up in civil war alters the real world examines the roots of the conflict in yemen and the complex history that threw a country into perpetual term. separation of. the north and the so these dualisms are off part of history. yemen the north south divide this time. al-jazeera is award winning programs to take you on a journey around the. expert analysis. it's all about who's in charge who controls the resources and documentaries that will in your eyes it's a technology story it's a business story it's a social story and it's a political story all wrapped into one it's unpredictable television that truly inspire is only on al-jazeera singapore is being accused of expanding its coast and illegally dredged satins of some of the islands off the coast of indonesia and literally vanished it's a big business smuggling you sample and they will take this there until the stand is are fair game you see this beautiful beach but behind it is something that's not so proud of the tragedy is that people are just not aware and ecological investigation into a global emergency sound walls at this time on al jazeera. this is al-jazeera.