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CNNW Early July 6, 2024

christine romans. it s memorial day here in the u.s. glad you re with us. let s get going. we begin this morning with president biden defending the deal he made with house speaker kevin mccarthy to raise the debt limit for two years. it takes the threat of catastrophic reform off the table. protects our hard-earned economic recovery. and the agreement also represents a compromise which means no one got everything they want. mccarthy agreed to raise the debt limit in explain for cuts to the budget. even though, the president insisted to reporters he wasn t actually negotiating on the dead limit. want to try to make it look like i made some grow myself in the debt ceiling, i didn t. i made a compro 3450is on the budget. that s what they wanted a compromise on the budget, that s what you ve done, even though you haven t gone as far as you wants, in that right? sure, can you think of an alternative? the president praised mccarthy, although he avoided predicting ....

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BBCNEWS World July 6, 2024

who s based in the turkish capital, ankara. the tour, a lot ahead for president erdogan, he thinks cost of living crisis is manageable is it? that crisis is manageable - is it? that is an excellent crisis is manageable - is it? that is an excellent question, - crisis is manageable is it? twat is an excellent question, and one had so many economists across the world are wondering about, because he has pursued such unorthodox economic and monetary policies over the last several years, he has put a lot of pressure on the central bank not to raise interest rates, as most central banks usually do to combat rising prices, and that has let inflation run away. as you said, inflation run away. as you said, inflation currently at 44%, it topped out at 88.5% last year, so household is really feeling the pinch, and the question is whether president erdogan will put a team around him now who will sort of convince him that more orthodox monetary policy is the way to go. the thi ....

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BBCNEWS World July 6, 2024

difficult to self but for questions and challenges ahead as he grapples to get the economy into better shape. to get the economy into better sha e. ., , to get the economy into better sha e. . , ., , , to get the economy into better shae. . , ., , , ., shape. that is right, and this is a cuestion shape. that is right, and this is a question economists shape. that is right, and this is a question economists have - shape. that is right, and this is a question economists have been l shape. that is right, and this is a - question economists have been asking for months. if he were to win another five years, what would it mean for the struggling economy? inflation tapped out at 85.5% last october. it has since come down, it is about 44% now. what is he going to do with the next five years and what is he going to do in the next days and weeks? he is almost certainly going to restructure his economic team, finance team. there is speculation about whether we will see familiar ....

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BBCNEWS World July 6, 2024

at verisk maplecroft. if erdogan continues down this path of policy that he has embarked upon, do you think turkey will be defaulting on its debts any time soon? thank ou. its debts any time soon? thank yom yes. its debts any time soon? thank you. yes, well, its debts any time soon? thank you. yes, well, the its debts any time soon? thank you. yes, well, the turkish - you. yes, well, the turkish lira partly as a result of economic policies under the current turkish government has lost about 80% of its value over the past five years. and in the lead up to the election, one of the ways in which the central bank was holding it off was drawing on its foreign exchange and gold reserves. although that props up the lira it is not necessarily sustainable in the long term and if turkey is no longer able to finance imports or to service its external debt it could end up default. there are corrective actions the turkish government can take to try and hold off that risk but w ....

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CNNW CNN July 6, 2024

amanda cardin hong kong. more debt ceiling drama in the u.s.. getting a deal on the table was the first hurdle. now the race is on to sell the plan to skeptical lawmakers before the government runs out of money to pay its bills. kyiv under fire. a rate alarms ringing out at the ukrainian capital for a third day in the row. as russia unleashes another massive wave of drone attacks on the city. plus, a showdown in texas. the state attorney general impeached by his fellow republicans. we will break down the accusations he is facing and where he is going through from here. the debt limit deal between the u.s. president and the republican house speaker is about to be put to the test. both leaders have been racing to support for the bipartisan agreement before the u.s. runs out of money next week. they face harsh criticism from hard-line members of their own parties. and they must get congress to approve the deal before the president can sign it in the coming day the ....

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