something i say i don't have anything in italy they don't need me. as the day comes to a close libyan refugee ever johnson returns to the shelter to spend the night. it takes some walking through the historical part of the city he has no money for a bus. johnson doesn't stop in the sense of very often unlike at the railway station with the other refugees he feels a complete stranger. some italians didn't used to does that. we are we go you have enough money because the government used to disguise money doesn't doesn't need to tell you that does not true blood big give us money does not delay that. on the same evening veronique or the blogger puts the finishing touches to a post on the refugee situation but when she's about to send her a text she receives some unexpected news ever johnson has been thrown out of the asylum after spending two months there why is not yet known. we bloggers work to make sure that what is secret comes to light so we're trying to bring a resolution to the situation as well. was that. after a few minutes it becomes clear wha

relation right here in italy down with berlusconi and down with the right wingers. ever johnson a refugee from libya has just seen a doctor. he's suffering from a wound sustained during military hostilities in libya. the leg surgery he underwent some time ago has helped but he can't get the doctors to say what sort of treatment he needs. one is this. front and does fall but. i need more help because says. to me how my leg. how is it changes and i know does the changes. as soon as he arrived in rome from a hospital in italy self in early two thousand and twelve join some sort help from a charitable organization called carrot us. the fifty seven year old builder couldn't say why he'd been fired on in libya all he knows is that somebody shot at the car carrying him and his friends from tripoli to misrata he doesn't know who gave the order to shoot. him or where to misrata. and down and he's started to should do so i mean front so the gun just. the other people were all of them. cara says provided johnson with lodging for the night and one meal a day. when stuff concede

as soon as he arrived in rome from a hospital in italy self in early two thousand and twelve johnson source help from a charitable organization called keratitis. the fifty seven year old builder couldn't say why he'd been fired on libya all he knows is that somebody shot at the car carrying him and his friends from tripoli to misrata he doesn't know who gave the order to shoot. him or where to misrata there's programmers. and fall down and he's started to should be so i mean front so the gun just shoot me i'll fall for guns the other people where all of them. carries us provided johnson with lodging for the night and one meal a day. it's stuff conceded that there was an increasing shortage of accommodation for refugees. anybody there is a tendency this is a problem to react to emergencies. instead of working more on system so this this is i would say. maybe the first problem. this demonstration of the heart of rome is designed to attract the attention of tourists filing towards the colosseum it's a mystery stave off a new war in africa and the resultant new wave of migrants coming to

if you can -- and what kind of reforms does italy need? >> yes. now, on the -- on the -- >> thank you. >> thank you. on the the balanced budget -- yeah. you have the numbers we project a deficit for next year of about 1.5% of gdp. this is due to the fact we have a lower growth projection for italy. it's interesting to note two things. that even this deficit, even if it materialized, it would be the third lowest deaf ted in the area. only germany and finland would have a lower deficit. i would also underscore that the net of affects would actually be a surplus. i think of about 0.5, 0.6% of gdp. that's important, because more and more in the area, the fiscal rules are focusing on targets that are net of the affects. the fact that italy will be running a primary surplus, net of the cycle, is very important for next year. >> a question right here in the white shirt. >> thank you. from china's media. elections are expected to increase on may 6th and this time the entire austerity parties are expected to do quite well. how do you think this kind of ple

refugees may spend several months awaiting a decision on whether or not they are allowed to stay italy. all the while they have to remain in isolation behind three metre high fences with civil war still raging in somalia refugees from that country can count on a decision in their favor for the people who've left their homes in countries in the wake of the arab spring have little chance of finding refuge in italy. citizens are sent back as a rule it's assumed they face no problems in their homeland international community has recognize the legitimacy of libya's authorities. rhydian sufi is a libyan today he was released like many arab refugees he's been denied a residence permit. there are still hostilities between gadhafi supporters and opponents in a part of libya where no thirteen used to live it will be risky for him to return home. and yet measured in as only a week before he must leave bitterly. wood appearances the immigration center stuff bids farewell to as routine as if he was a close friend the director accompanies his lodger personally. wraps a new bag for deserting to be gi

rivals and said the difference between the two sides was simply confidence we are the same but yeah italy now is he would be. more confident about the game russia's coach was understandably disappointed but adamant his team would still qualify for next year's european championships we must feel good. and for me i have. in my head no questions and no negative think that we can't do it it's impossible we must be complacent must think that we will do this with russia remain second after the defeat two points ahead of poland while having played the same amount of games will or will would have set them up well in the fight with italy over first thought they will now surely have to settle for runners up position which is still far from guaranteed in the end it was too much for their arsenal of national football team. winning to nail on the day but it was a fantastic day of football sun is shining with all the good performances from both sides and now for the russian team it's up to them to secure the runners up place to qualify for next year's european champions of and that starts with greece a

the game became weary with the russians running out of ideas and italy content to sit on their lead but when it looked like russia was finally step up their game they'll once again call on the break and found themselves to nail down. this result of course suited the talents and even though the russian side huff and puff until the final whistle the results remained unchanged despite his team's dominance italy's coach had considered russia then main group rivals and said the difference between the two sides was simply confidence we have the same but. equally now is the end of the beach. more confident about the game russia's coach was understandably disappointed but adamant his team would still qualify for next year's european championships we must fingers we call doing it and for me i have. in my head no question of and nor will they get to think that we can't do it it's impossible we must be so complacent must think that we go to swim russia remain second after the defeat two points ahead of poland while having played the same amount of games when a win would have set them up well in th

morgan look at the entirety of italy municipalities going broke all across italy why because they bought credit derivatives from j.p. morgan goldman sachs to go to a country like greece based on faulty bonds they cook the books so they can get into the euro then they collapse then greece and other countries go to goldman sachs to help them cure the problem of having dealt with goldman sachs and of course the earnings are up if it's a virtuous cycle what kind of drugs are they got these great people taking. egypt leading political force the muslim brotherhood has come under fire from the public and other political groups from dominating its own candidate in the upcoming presidential race. broken so earlier promises to stay out of the vote the decision also sparked internal frictions in the brotherhood of some of the groups figures with so many interests. for it doesn't it isn't just organizations also criticize the nomination claiming it was the brotherhood jeopardizing that. change in egypt but the truth there are a few doubts right journalist believes the party's nomination of chips wil

the market is also telling that you italy should follow. so that is declining. >> italy, the net issuance is more compared to gross. >> hasn't spain done a lot of its issuance front loaded it? >> no, they've done almost half of the issuance for the -- >> for the year. >> no the year. which is very good news. but you still have half -- >> bid to cover 1.435. that's okay. >> yield higher than before. >> yeah, but the yield is trading in line a little bit lower than the cash market. so we could have expected that. >> what i really like is the curve steepened a lot in italy, so the short part of the curve was low, issue at the low rate. thousand it looks like the short part of the curve is setting up, so it means that the financial cost with debt service will go up in italy. >> when it's less than one, you go get your shot gun and you hide it under your bed. that's happened in the uk, happened in germany. these things have happened. and the market is scared that for some technical reason or something, we could drop break one. so that's the firs

have scored and this really put unity set the tone for the remains of the half eight minutes on and italy went ahead through veteran patricia penney call who headed home from a deflect across a goal down early on russia failed to get their rhythm when they did get forward it was brief and ineffective but they did manage to keep the italians at bay going into half time trailing by that solitary goal despite it being a weekday over five thousand people were on hand to give the russian team their vocal support the second half started with a flurry with both sides coming close to scoring but if that was a sign of things to come it's batted to deceive the game became weary with the russians running out of ideas and italy content to sit on their lead but when it looked like russia was finally step up their game their once again caught on the break and found themselves to kneel down. this result of course soon to be talons and even though the russian side huffed and puffed until the final whistle the results remained unchanged despite his team's dominance italy's coach had considered russia thei

morgan look at the entirety of italy municipalities going broke all across italy why because they bought credit derivatives from j.p. morgan goldman sachs are going to a country like greece they sell in quality bonds a couple of books so they can get into the euro then they collapse then greece and other countries go to goldman sachs out of cure the problem of having dealt with goldman sachs of course the earnings are up then it's a virtuous cycle what kind of drugs are they got these great people taking. the. time now for the business news with dmitri who joins us live on the grass to me through the battle looms for russia's largest airport tell me that of a new bidders on the horizon how star how it is how it's all working now well right now we have the two of russia's wealthiest men two of russia's wealthiest tycoons battling for the last of four demanded of airport and one corner of the freedom of the owner of alpha group who has the backing of the e bank bank which is ready to provide up to two billion dollars on the other in the other corner of is the head of so my capital's able w

morgan look at the entirety of italy municipalities going broke all across italy why because they bought credit derivatives from j.p. morgan goldman sachs to go to a country like greece based on faulty bonds they cook the books so they can get into the euro and they collapse then greece and other countries go to goldman sachs out of cure the problem of having dealt with goldman sachs of course the earnings are up if it's a virtuous cycle what kind of drugs are they got these greek people taking. taking a look now at other news from around the world this hour dozens of al qaeda militants being killed in southern yemen following three days of government airstrikes fraser in response to a militant attack on a nearby army base last week islamist militants have used the past year of anti-government protests to expand their influence in the country. argentinian protesters rallying against britain's control of the falkland islands clashed with riot for these areas demonstrators outside the british embassy hurled petrol bomb tore down police barricades four officers responded with tear gas down

morgan look at the entirety of italy municipalities going broke all across italy why because they bought credit derivatives from j.p. morgan goldman sachs are going to a country like greece based on faulty bars they cut their books so they can get into the euro and they collapse then greece and other countries got a goddess acts out of cure the problem of having dealt with goldman sachs of course the earnings are up and it's a virtuous cycle what kind of drugs are they got these great people taking. because the report is coming up through entry about first of the latest from the fair with me three and russia's richest fighting for the country's largest airport that's right moscow's my dear the port to be exact in one corner there's a billion there friedman who is the head of alpha group and he's got the backing of state. run bank v e b was a about two provider almost two billion dollars in financial support on b. other hand there's the head of so much capital investment banks here would you name a game you have of specialize in transport and infrastructure assets and they have the backin

morgan look at the entirety of italy municipalities going broke all across italy why because they got credit derivatives from j.p. morgan dollars actually going to a country like greece based on faulty bonds they cooked the books so they can get into the euro then they collapse then greece and other countries got all the sacks out of cure the problem of having dealt with goldman sachs of course the earnings are up then it's a virtuous cycle what kind of drugs are they got these big people taking. over. there seems risk across all the probabilities of the money market today the ups turns and the buying of airports may be because they're russia's richest battling for the skies all rather tarmac or if you've got forests well two of russia's richest tycoons are indeed preparing for battle and over to take over in order to take over airport the largest in moscow and actually in russia on one hand we've got mikail friedman he is the head of alpha group and backing him is state owned bank ve was ready to provide two billion dollars worth of financial support in the other corner we've got the

italy is shakier, too. adding to europe's economic woes and worries here its problems could spread to the u.s. >> let's say europe blows up again on us. you're correct. you could go back in the suit. so far, even on the european front, i'm seeing reasons to be cautious, but i don't believe we're going back in the battle days of august, september, october. >> spain is no greece, which is good and bad. it's the fourth largest economy in europe. and the 12th largeest in the world. that means it's probably too big to fail. and would get a bail-out from europe and the imf. but if it could not be saved, the global economy could get hammered. the ifm is getting ready in case. it's holding the annual spring meeting in washington and is expected to announce hundreds of billions of dollars in new funding commitments this weekend. though none from the u.s. >> if we had a message to europe and the euro zone in particular, it would be keep up, keep up for better and more europe. keep up means implement the reform in pla

morgan look at the entirety of italy municipalities going broke all across italy why because they bought credit derivatives from j.p. morgan goldman sachs are going to a country like greece based on faulty plans they cut their work so they can get into the euro and they collapse then greece and other countries got involved sacks the help of cure the problem of having dealt with goldman sachs and of course the earnings are up and it's a virtuous cycle what kind of drugs are they got these great people taking. place the rule the world would be a different place right it's twenty five minutes past this tuesday evening but we have the business i think that's culturally dimitry high the entry. port big airport is using regular self make it a new. site about well yes and we have two of russia's wealthiest businessmen up for a battle for this prize there so the largest airport in the country indeed the merging of in one corner there's freedom and he's the owner of alpha group and he's got the backing of state run ve bank nashik and on bacon's ready to provide two billion dollars in financial su

morgan look at the entirety of italy municipalities going broke all across italy why because they got credit derivatives from j.p. morgan goldman sachs to go to a country like greece they sell bonds they cut their books so they can get into the euro and they collapse then greece and other countries got to go back to help them cure the problem of having dealt with goldman sachs of course the earnings are up and it's a virtuous cycle we're kind of drugs that they've got these great people taking. the blaze that broke out overnight in a moscow market center has killed up to twelve people eight fire engines were needed to protect lives to break through to get what is the victims who died trying to building. through started one of the victims workers at the market bring you more as we get. into another inferno in was scary but this time sixty six floors up bipartisan moscow with a blaze that in the skyscraper it's still under construction it's said to be the tallest in europe for helicopters went in to bring the fire under control at easter i would say was the scene. well at eight thirty p

italy will intervene in syria as it did in libya. is italy ready to play a more assertive military role together with nato potentially to get rid of president bashar al assad? >> it has reached a napoleon level of consequence, more than 9,000 casualties, a huge number of refugees in turkey, in lebanon, in jordan. yesterday the foreign minister made a very impressive presentation to the g-8 minister and showed how much the pressure is from the inside of syria population. >> are you ready to play a military role to help -- >> there's no use to uses for against the bashar al assad regime now. >> minister, would you be opening to arming the rebels without a united nations security council resolution? >> we will not do anything which applies the use of force without a framework of legitimacy which can be done only by the security council. >> do you believe iran is trying to build a nuclear bomb? >> there are many gray areas or very dark areas in the explanation that iran has up to now given to the international community concerning its nu

morgan look at the entirety of italy municipalities going broke all across italy why because they got credit derivatives from j.p. morgan goldman sachs are going to a country like greece they sell bonds they cop a book so they can get into the euro and they collapse then greece and other countries got to go berserk the help of cure the problem of having dealt with goldman sachs of course the earnings are up but it's a virtuous cycle what kind of drugs are they got these great people taking. coming up to twenty minutes past the hour a look now at some other news from around the world by clashes have erupted between police and protesters and one of the artists during a rally outside the u.k. embassy over the british control of the phone neither thankfully angry demonstrators threw petrol bombs and pulled down barricades for offices the spotted with tear gas protest march the first. birthrate starts to fall in florida which almost a prominent people died. ten captives have been released by the revolutionary armed forces of colombia otherwise known as far six police officers and four sold

. >> i have a question on the outlook of italy. you present a figure that is 1.9, minus 1.9 for this year. and i would like you to elaborate on the reason why it's going better and why it remains the worse performance in the eurozone and what should be done to close this gap? >> we've mode ratedly revised up the outlook for italy relative to january and that's mainly because tensions in financial be markets have eased somewhat and also because the global outlook is slightly better than what it was in january. now, it still remains the worst, one of the worst performances in europe. 2012 will be a very difficult year for italy because they are implementing rightly a lot of fiscal adjustment and this is what is weighing on growth but ultimately it will put the economy on a trajectory for stronger growth in the future. this will, however, also require advancing the structure reform and again like in spain very positive steps being taken with respect to reforming the labor market and these reforms need to be pushed through. and the thi

morgan look at the entirety of italy the u.s. apology is going broke all across italy why because they bought credit derivatives from j.p. morgan goldman sachs to go to a country like greece based on faulty bonds they got their books so they can get into the euro and they collapse then other countries go to goldman sachs out of cure the problem of having dealt with goldman sachs of course the earnings are up and it's a virtuous cycle what kind of drugs are they got these great people taking. now that it's not a news from around the world this hour violent clashes erupted between police and protesters of. three of the various u.k. embassy the british controlled for dogs. strictest troops barricades the officers responded to i guess interest to thunderbirds from the field. is the right. ten captives that have been released. which is a number that was. six police officers and four soldiers are reportedly the rebel groups the last military hostages held in the jungle hideouts for at least twelve it is. america's oldest of the grief o

morgan look at the entirety of italy municipalities going broke all across italy why because they bought credit derivatives from j.p. morgan dollars actually going to a country like greece they sell bonds they cut their books so they can get into the euro and they collapse then greece the other countries go to goldman sachs to help them cure the problem of having that dealt with goldman sachs of course the earnings are up there it's a virtuous cycle what kind of drugs are they've got these great people taking. the chips leading political force the brotherhood has come under fire from the public and other political groups from nominating its candidate in the coming presidential race with broken promises to stay out of the vote or decision also sparked frictions in the brotherhood and some of the groups top think is resigning in protest. isn't this the frustrations also criticize the nomination blaming the brotherhood. democratic change in egypt. true cairo based from dance runs from journalist believes the party's nomination of kids in school seen the country now. the muslim brotherhood h

south or all were that people are keen to keep their cash instead of losing it to a all the rest of italy our debt. in egypt presidential hopefuls are racing to round up enough support to have the first round of the vote next month sunday's the deadline for nominations with several candidates hoping to fill the shoes of hosni mubarak who was ousted more than a year ago arches renegotiate is in cairo it was more. it is true that the military is still rather powerful and it is also true that among the candidates for the upcoming presidential elections you can see some of the names which were very familiar during the mubarak era for example his former prime minister is a running for the presidential seat as is the head of his intelligence that was one of the most recent surprise nominations after especially after it came three days after him are silly man that is the lance name after he stated that he is not going to run of course he changed his mind a little bit later on now you cannot forget that there is also a very strong islamist presence and that is probably the strongest strongest par

morgan look at the entirety of italy municipalities going broke all across italy why because they got credit derivatives from j.p. morgan goldman sachs are going to a country like greece based on faulty bonds they cook the books so they can get into the euro then they collapse then greece and other countries go to goldman sachs to help of cure the problem of having dealt with goldman sachs of course the earnings are up there it's a virtuous cycle what kind of drugs are they've got these great people taking. this latest business now it's just a bit after three minutes past eight o'clock moscow time dimitris their high business this. russia's richest fighting for the country's largest airport we've got one tonight and that's why we're talking about moscow's them ideas of boards and in one corner there's billion then three then the head of powerful group and he's got the backing of a state run the bank which is ready to provide two billion dollars of financial assistance now in the other quarter is the head of so much capital investment bank which specializes in infrastructure and transp

morgan look at the entirety of italy municipalities going broke all across italy why because they bought credit derivatives from j.p. morgan goldman sachs to go to a country like greece for the bonds they cook the books so they can get into the euro then they collapse then greece other countries go to govern stocks the help of cure the problem of having dealt with goldman sachs of course the earnings are up it's a virtuous cycle what kind of drugs are they got these great people taking. egypt leading a political force that was the brotherhood has come under fire from the public and other political groups from the meeting it's a candidate upcoming presidential race i think are concerned promises to stay out of the vote station so you know fictions within the broad some of the groups top figures resigning in protest and those in the midst of organizations also criticize the nomination blaming the brotherhood for jeopardizing attend such democratic change in egypt which kyra thinks we that's right kiran this is the party's nomination of ships. country. the muslim brotherhood has not been on

he says italy is paying the price for the crisis. he made the clements on a flight back from egypt after especially italian bank stocks fell sharply in yesterday's trade. down around 8% each. investors still focused the 12-month bund market you can see 5.64%. joining us for the first half of today's program, charlie morris from global asset management. good to see you. claudia is also with us. let's bring in claudia. do monti's comments stand up, claudia? do people believe what he said or not. >> well, on the one hand it's not surprising he would say that it is the spanish situation. in the last weeks we have seen when the spanish situation has heated up, so has our situation here with spreads going back up again. overall monti has been doing what he has promised in the first three months or so of his government. he has put into place some very important forms and one is the labor market reform which is actually the one he has been stumbling on in the last weeks and the one which the media has been focusing on. the labor reform that

highlighting the massive wealth gap in italy its central bank says the ten richest people there have as much money as the three million poorest combined but with economic inequality widespread the prosperous and autonomous region of south to roll is are looking to go it alone and break away from rome for good and r.t. second regret over went to hear their complaints. lost in translation between the alps and the mediterranean a population of half a million people and a lot of b. to become independent one day that south to roll a probe in some northern italy all these has never been italian says ever klotz as showing off her native town of boys she spent thirty years of your life fighting for independence. if you only see where two are all their names our languages german were taken from the rest of to rule before so it was a hundred years ago we have seen pressures which has affected our language closed our schools band our songs and now changes regional name into the adage enough. ever course refers to how these german speaking territory was occupied by eataly of the end of the first

morgan look at the entirety of italy municipalities going broke all across italy why because they bought credit derivatives from j.p. morgan goldman sachs they go to a country like greece they sell bonds they cut their books so they can get into the euro then they collapse then grace and other countries go to goldman sachs to help them cure the problem of having dealt with goldman sachs of course the earnings are up it's a virtuous cycle what kind of drugs are they got these big people taking. a look at some other news from around the world the. clashes erupted between some protest is. probably ok and couldn't control. three demonstrates an actual court. case or this was. a protest march this you kind of film. which. turned the captives east by the resolution on the. six resources and four soldiers forcibly the rebel groups the trick is to just. enjoy life for the next twenty years. that's america's oldest. instinct the pressure. to drive it so hard and. scaping new way. vehicles follow the sign of this new company that lori was being dragged along the road some of that struck us control

europe because of the debt crisis and it's the same story you have here art and cultural heritage of italy being prized assets and it's going down the drain the same goes with its workforce its assets their human assets bearing the brunt of all these pots and this is a symbolic protest follows what we've seen recently already suicides and suicide attempts in greece and italy as well over a pension cuts or loss of benefits or loss of jobs and this is the type of the symbolic protest may be changing but it goes back to underline the point that the people are saying that they are in desperate need there in desperation at the dire situation that they're in this specially in countries like italy and spain which are still hanging in the balance european leaders and markets still i mean of whether it will be the next to receive bailouts and we all know what bailouts mean that from international creditors it means even more a stary and even more desperation from the eyes of the people. in britain advisor patrick youngers total of three that he thinks. should be treated as a joke the problems. very

and watching our team still to come for you this hour in the program italy's financial turmoil fuels separatist sentiment. that we cannot make prices taking over the country every single sound seems to wake nationalist feelings we report from the rich autonomous province of south to roll where the people want sovereignty more than they want to hand over cash to rome. so what drove peace activists to try and storm nato headquarters a move that led to hundreds of arrests one of the demonstrators gives us his first time. proposing new legislation for a position of political parties could make their entry into parliament much easier if passed the law may lead to an unprecedented push for power by literally hundreds of factions as are his and he said now explains that could cause a problem in itself. politics in russia may never be the same protest have become a common sight and new parties are registering left and right as political reform starts reason them slow former deputy prime minister in the ninety's is no stranger to the white house. off the political radar until it's funny now s

this is our team because you live from the russian capital still to come this hour italy's financial turmoil fuels separatist sentiment. like the economy crisis is taking great while the country every single sans seems to weight nationalist feelings. we report from the ritual part of his province of self to role where the people from the overseeing by of rome class. with his school. he's only that instead of spending much more although you were. small then you were . will the budget cuts work the man who that the european central bank through the early years of the crisis talks about the future of the single currency in his interview is coming up in the next hour here on our team. now out of the peace efforts for syria the international envoy to the country has briefed the u.n. security council on the progress of his mission kofi annan said the mascot's is agreed to start implementing a cease fire from april the tenth party's miniport nine has more from new york. what we do know so far is that mr anon says that there's been no progress on the ground in syria so far as to implementing

and couldn't have done so even if it wanted to italy is a bad housekeeper or lots of debts we're not paying for vets with our own money. theirs and ours are the two words which we hear very often and sell to rubble and money is at the core of the dispute the totem is expected to contribute one hundred twenty million euros to cleaning up the italian national budget to do so it will have to raise real estate the eighty and income taxes as well as fees paid by farmers instead the south to roll economics minister it wants to buy its freedom from eataly once and for all he will names a concrete purchase price teen billion euros those that we can stay part of easily but we want full financial freedom we're ready to pay a solidarity tax of three percent we'll pay our foreign policy fiscal and euro policy otherwise we'll do the rest on our own we build our roads in several months but before it happens we wait for permission from rome for years. rosen infrastructure in this rich province of eataly are indeed very non italian so too is unemployment which stands at only two percent compared to

i was wondering what impact without the artificially low chinese currency have on europe's ability, italy and greece, to be competitive internationally with respect to exports. >> excellent question. greece itself is not large enough to have -- to cause a lot of damage to the united states. greece matters a lot, though, because greece's crisis hurt confidence across europe and tauzed the rest of the continent to fall into recession. if europe can contain the risk of the greek crisis spreading, they have the ability to do that, on the chinese question, chinese currency is up about 14% in real terms since the summer twof 010. about 40% up against dollar in the last five years but this they have some ways to go. the chinese currency is still undervalued and you are right to rye mind people that by holding their currency too low they are making it harder for other trading partners to grow. >> time of the gentleman has expired. the chairing recognizes the gentleman from new mexico. >> thank you. as i listen to the language, the lingo being used today it sounds vaguely familiar to the time in 2

i don't fear italy as much as spain. italy is taking serious growth moves. i'm certain that i'll be the only one that doesn't fear it and people will be saying, well, that industrial data number, italy in more trouble than we thought. here's the bottom line. everybody's making a fuss about tomorrow's unemployment report from the labor department. but when the market digests it monday and it should have been out yesterday. i bet the numbers will be in line and will be close to a non-event. after that, we default to earnings season. remember that super value and alcoa, the two companies that kick things off are not representative of what's going to come after. super value, perpetual loser. alcoa, many fine points that are still being crushed like a tin can by china's relentless overproduction of aluminum. as long as you don't take your cue from these two companies and be attuned to the better reports later in the week, i think you will do as my phillies did opening day. meaning, you'll do just fine. let's go to sam in ohio. sam? >> caller: jim, thanks for taki

course lives silly are standing by in brussels for more on this so what is the age of this protest in italy. well the museum director we started burning artwork he's calling this basically it's a symbolic protest against the way the economic crisis the european debt crisis is being handled until this point and he also says that over a thousand artworks are already doomed to be destroyed anyway because of the government's indifference to their situation subsidies have been cut to the cultural institutions and again this just brings about the message that no one and nothing is spared from these harsh cuts being imposed by governments in europe because of the debt crisis and it's the same story you have here art and cultural heritage of italy being prized assets and it's going down the drain the same goes with its work force its assets their human assets bearing the brunt of all these cots and this is a symbolic protest follows what we've seen recently already suicides and suicide attempts in greece and italy as well over a pension cuts or loss of benefits or loss of jobs and this is the type

keeping an eye on italy, as well. bond auctions today. the focus will really be on the 5 and ten-year auctions that we've got this morning. 5.2% was the yield in march. you can see where we're raiding at the moment. five years in march, we were looking at a yield of around 4.2%. currently around 4.8. we also have other issues. 7 year btp and 4 year, as well, coming out. it's 2019 issue i think we've got coming out. as far as current city markets are concerned, the dollar index up against most things this morning. we just did see the yen weaken after bank the japan came out with bigger sort of beyond expectations with their bond buying. extending to three years the maturities which they can buy. aussie dollar at the moment 10385. sterling a little firmer incidence the dollar. more on japan, christine. >> well, japan central bank eased monetary policy for the second time if just over two months, the boj says it will boost government bond purchases by a larger than expected $124 billion as it reinforces its fight against inflation. the surpr

the other question is, does it jump over to italy, where italy goes to the bond auction? italy also getting slightly beaten up at the moment, 5.6% is the yield on the 10-year bond for italy. france also in the headlines today because we're going to hear from the government about tax and spending plans. i'll have a lot more on the "world business report" in about 20 minutes' time. >> thanks very much indeed. much more, of course, still to come. you're watching "bbc world news." a rowe hits euro 2012 co-host ukraine over a film re-creating the second world war football match against the nazi german occupiers. now, one of the republican party candidates for the u.s. presidential nomination has announced he's dropping out of the race. former senator rick santorum made the announce until his home state of pennsylvania with his family at his side. his decision means multimillionaire hit romney is almost certain to be chosen to challenge barack obama in november. from washington, jane o'brien reports. >> rick santorum's exit effectively ends the republican race. underfund and ha

executive director of investment advisers he says that although italy's protest could be treated as a joke other problems it highlights a very serious. the truth of the matter is that i think it's difficult to take seriously the idea of simply seeking attention through destroying our works when actually wouldn't be a great deal of a better idea to have these artists and indeed these artworks being sold so that they can actually go somewhere to try and help some of the pensioners i mean it strikes me that it is a rather ludicrous protest per se but it galls draw attention to the fact that the fundamental underpinning zp of many european states and that means that the vast amount of money that has been the spent on the the social status whether it be an art whether it be in pensions or whatever it is that is coming to an end europe and the euro zone cannot afford it socialism. watching r t a twenty two million dollar fine the punishment for perhaps america's most controversial financial giant by the penalty came off the revelations that goldman sachs gave inside information to preferred