Well look at some president ial errors. Also, unreal and overoptimistic. For the nhs and Welfare State if britain leaves the eu without a trade deal. Thats the opinion of the former Prime Minister sirjohn major. And the greek economic crisis it goes from bad to worse, well speak to the former greek Finance Minister yanis va roufakis. Im katty kay in washington christian frasers in london. Big increases in Defence Spending offset by cuts to domestic agencies and the State Department thats what President Trump wants from his first budget. Hes promised one of the greatest military build ups in american history, and briefings by the white house suggest the increase could be more than 9 . Also today, the defence Secretaryjim Mattis is due to deliver his plan for defeating the self styled Islamic State group. This is what donald trump had to say earlier about the military. We must ensure that our courageous servicemen and women have the tools they need to deter war, and when called upon to f
the same. and understanding that, you just got to continue doing what you can to personally heal while giving back. reporter: san quentin. one of the only prisons in california that houses death row inmates. and it might seem like an unlikely place to heal. but it s become almost therapeutic for zak. those companies will continue to make money. reporter: this is the financial literacy class he teaches. today s topic is the great debt crisis. there will no longer be a euro in greece. it would shift to the drachma. reporter: the idea is to help inmates understand thinking, the economy, and how to value stocks. when you look at the reason why a lot of inmates are incarcerated it has to do with money. whether nonviolent or violent crimes, a grossly disproportionate amount are money-related. understanding and having a healthy relationship with money is absolutely core towards personal success in this life.
when greece s economy tanked they were supposed to dig out on their own by raising taxes and cutting spending. since that didn t work the rest of europe has had to come one a series of ad hoc bail outs that haven t made anyone happy. if there were no euro there still would have been a crisis but greece would have responded by letting its currency weaken. the drachma would have fallen relative to the deutsche mark. that would have created jobs and helped the greek economy grow again. since they are on the euro they don t have the option. they are stuck with no growth and no jobs. it is the worst of both worlds. the greeks don t have the flexibility of independence nor the mutual support american states get. the euro would work if europe became more like the u.s. if they took the journey that we ve taken over our history. that may have been the plan all along actually. the treaty that created the euro
amy kellogg is live in athens with all the latest. amy? hi arthel. well the greek banks running out of money could be an impetus, a real trigger for greece leaving the euro falling out of the euro and ultimately out of the european union all together arthel because if the european central bank stops giving the greek banks the lifeline that it has been giving them if the talks break down an greece ultimately misses another deadline for repayment to the european central bank, them presumably the greek banks will be forced to print their own money or the government will be forced to do that and it is presumed that that one would be the drachma. that is greece s previous currency and there is no telling what have sort of scenario would lead to so because the banks are running low on cash and because the situation has become so dire today has been set as yet
the reforms that are in it and the tax hikes that will save greece and leave it in the eurozone? well this program is not optimal, is not the best but given the alternative it s very good. let me explain. i mean the alternative is for greece to leave the euro and go to the drachma and that would be a total disaster for greece the banks would collapse, people would become much much poorer. people would lose their deposits in the banks. all these are terrible things and the way out is to have this deal done. this deal is not perfect. it has too much taxation and not enough cutting of spending. it s high taxation but nevertheless given the circumstances that deal is much better than the alternative. additionally there is the hope