recession another nation cyprus is on the verge of a bailout wrangling over how to get greece on track with creditors is still not resolved and talks just collapsed among european leaders trying to agree on a budget for the next seven years so in other words the e.u. isn't anywhere near out of the woods and it's also important to remember looking from abroad at the headlines coming out of these most recent budget talks to these are politicians needing to score political points so you may not be able to take everything that you read at face value so to separate fact from fiction we spoke to me as journalist for the dow jones news wires and the wall street journal who's been covering this all in brussels take a listen. joining us now matina staff as a journalist for the dow jones newswires and the wall street journal she's been covering all of this matina budget talks collapsed leaders failed to reach an agreement on the budget with according to your reporting wealthier countries saying there just wasn't enough restraint in the proposed seven years bending plan you were there or you've gotten

greece from the common currency area here in europe i think mr drugs announcements over the summer and what happened over the summer the calm and we've seen that continue until now even though the actual problems have not be resolved the problems with greece haven't been resolved ireland may be doing better under its own bailout but there is still a lot of work to be done there and it's a very vulnerable economy in its own way portugal a smaller economy also but still struggling with internal problems and then we get to spain already receiving a bailout for its banks and the big question will they also ask for a bailout for the for the country for the public spending and then there is cyprus which god truly annihilated by by the greek crisis because of the close linkages between the two countries and then there's the issue of you know you get to france and it's been downgraded as as we heard this week by credit rating agency and and so we may not be as spooked by the euro zone crisis that may have to do with the fact that we're just really tired of it but i don't think that. that the w

>> hello and welcome to the "journal" here on dw. >> our top story this hour -- a deal for greece. more bailout money and a new debt reduction plan. all the reaction from athens. >> the remains of yasser arafat are resumed. was he poisoned by his enemies? >> and mozart made over. how a new performance of "the magic flute" is allowing audiences in berlin -- wowing audiences in berlin. >> the greek prime minister has welcomed the european union international monetary fund bailout deal for athens as a new dawn after months of haggling. with the country on the brink of bankruptcy, the agreement will unlock almost 44 billion euros in cash. >> but many in greece are angry that the pact will mean more austerity and job cuts. opponents say it will not solve the country's problems. >> european finance chiefs are all smiles again. a solution for greece appears in sight thanks to a new set of measures meant to plug the country's cash gap and curb debt long-term. >> i am please to announce today we reached a political agreement on the next disbursement to greece. let me first say that this is

a row due to a large part of greece and their never ending economic problems. sounds familiar. european finance ministers are now delaying the next round of greece bailout loans because greece's own international creditors can't figure out how to get the program back on track. here's what i want to know. will the ripple effects cause a collapse on oil prices here in the u.s.? and what does that mean for us at the pump? this is what we care about in this whole greece thing. joining me, patrick dehaan, senior petroleum analyst from gasbuddy.com. what do you think about all this because it looks like oil prices are pretty darn weak for a number of reasons and that could be really good news for all of us? >> could be really good news and perhaps there is some bad news in there as well that is if oil prices go down, or if we go off this fiscal cliff, oil prices could collapse again. we could see a repeat of 2008-2009 recession where oil prices dropped to 50 bucks a barrel. lower gas prices certainly is good news but for all the wrong reasons. if greece doesn't get their country in

ask greece out and passed a new austerity budget they've committed to public sector cuts privatization measures who grazes careening towards its sixth year of economic contraction that is six years of depression we'll get a report on the ground by greek journalist be honest paleologos live from athens and the international energy agency says the u.s. is on track to become the world's top oil producer in two thousand and seventeen and most entirely be energy self-sufficient by two thousand and thirty five what is this forecast dependent on and what does this mean for the energy outlook and first so many political talking points we've heard over the years like this. we're still addicted to foreign oil president obama in washington all talk no action. on. well this got plus a trillion dollars from the value of global equities was erased after obama was reelected u.s. president according to bloomberg which notes that money managers say the drop over looks positive economic news and a likely fiscal cliff deal doesn't player from peter share of t.f. market advisors to today's capital account

four billion more euros in aid for greece now but taxpayers you move are squandered for. this role of the u.s. versus the world as the two dismissed palestine success of the u.n. but more than two thirds of countries gave the go ahead to its state. if you just joined us for a good evening i'm kevin oh it's good to have your company this is r.t. international our top story chips islamist dominated constitutional assembly has passed a new draft constitution documents based on sharia law and has triggered fresh protests across the country opposition activists say it's a betrayal of the revolutions ideals truths got the latest from cairo. the problem really stems from the constituent assembly itself many of the liberal leftist and church representatives actually walked out of the constituent assembly but they said it was bullying from the islamist factions that dominated the constitution writing body the key issues is the sharia law which many say the articles about sharia law leave open to interpretation to a very ultra orthodox interpretation and in addition the rights groups are saying

all over again before too long and from the ground in athens greece journalist younis paleologue has can give us the perspective because he's been covering this so first thank you so much for being on the show and you know from a perspective sitting here in washington or in the u.s. you know we hear about crucial votes we see protests we know about strikes that kind of feels like another day in the life of greeks that we've come to expect over the past two years sadly for those of us who are in greek all of these measures and votes tend to really blend together so what was in the bill passed last wednesday in the greek parliament and in the budget passed last night in short. well. there are two types of measures in the buildings. the one type is one that the prime minister himself as referred to as unfair and such as he would like to change them in the future these include new pension cuts including for people who didn't get very high pensions to begin with your wage cuts. for large numbers of people in the public sector and. new restrictions on wage growth in the private sector and

democracy traditionally the two largest political parties in greece that have jostling for power over the past thirty years they're just one seat shy of losing a majority and they're part of a weak coalition that includes just a small center left party so do you think the current government governing coalition can hold. well it's so very tenuous i mean new democracy they are by far the largest part. they're down to one hundred twenty five m.p.'s out of a dozen three hundred. which used to being. the last man was the largest by the president with a slim majority in parliament is basically falling apart as a plus the there are many about whether we continue to exist. you know twenty months from now. and the democratic left the small center left party has voted for the budget but it voted against the. you know the the the measures last wednesday so you know it's sort of both in and out of the governing coalition and no one knows when they come to vote on the laws that we implement what they voted on last wednesday whether they will remain and so you know it's anyone's guess but it's a li

and your surge of protests in greece turned violent as the country's parliament backs a new round of stinging spending cuts. a once in a decade pollard transfer kicks off in china as president hears in the towel and voice of the current leadership prepared to step down to lead young leaders to develop the country's call on a me. plus the bickering over the budget britain's david cameron and german chancellor angela merkel failed to agree on e.u. spending plans join talks in london. you're watching r g a live from moscow with me to say first anger and violence have spilled over onto the streets of athens with police using tear gas and water cannon against greece protesting draconian new budget cuts demonstrators hold petrol bombs with more than one hundred detained as the country's parliament passed an austerity package and at securing the latest bailout archies paid all of our reports from the greek capital. what we have seen though is anger on the streets of athens we saw a crowd of around one hundred thousand people gather in the square just behind me in front of of the parliame

and imf clash over how long greece should be given to reduce its debts. >> america's commander in afghanistan under investigation after new revelations in the cia sex scandal. >> in cairo, eu foreign ministers and members of the arab league discuss the syrian crisis. the lenders in charge of patching up the eurozone have gone head to head in a very public disagreement on the best way to deal with grease. >> at a meeting in brussels, the head of the imf and -- the heads of the imf and eurozone clashed over when greece should reduce its debt. >> but they did at least agree on a few things -- above all the grece could have at least two years to cut deficit. >> it is a question of how much progress greece can realistically be expected to make in a particular amount of time. >> greece's international lenders were playing down their differences the morning after the clash over athens' debts. the imf wants greece to achieve its lower ratio by 2020 while the eu foreign ministers want to allow the country two more years. >> there's no disagreement between the imf and the euro group, but th

. >> thank you for the information down. turning now to greece which is hoping to finally get the next installment of the much needed international bailout, the finance ministers are now meeting in brussels. >> it may be imminent. the 31.5 billion euro payout that they need to stay afloat. >> this is the third reading of this kind in as many >> the euro group president needs to get a result of soon. finance ministers from across these on have spent the last three weeks trying to finalize arrangements for the next payout. >> i came to find a solution. we are not thinking about failure. >> even if the ministers to reach an agreement on the next tranche of a greek aid, the fundamental question remains -- how can greece shoulder the debt long term? the eurozone wants to give greece more time, but the imf is calling for a hair cut meaning some investors would not get their money back. >> we will work for a solution that helps grease. >> we cannot make guarantees while we're still working on restructuring and debt. this is a standpoint we all agree on. that is what everyone said two weeks ag

regions. and another diverted to the. cash for greece. in exchange for. on air online live from the new center here in moscow this is a nationwide protests have kicked off in egypt with thousands gathering in tahrir square to oppose president morsi latest decree morsi made himself and the islamist dominated upper house of parliament immune to any kind of oversight including from the courts true reports from. behind me there's several hundred thousand people into korea and it protests that people are saying one of the largest they've seen really in most of the year and people are chanting against the muslim brotherhood and people a chance against this very contentious constitutional declaration which awarded the president's sweeping powers we've also seen protests across the country in different governorates against this constitution constitution that peroration as well as different sectors of society we had protests at a march today by the journalist in the case who had joined us in korea in addition judges themselves states in protest and lawyers so really we've seen protests acros

ministers and the i.m.f. have convened in brussels to the side the fate of greece's next bailout payment their two previous meetings fail to reach any agreement without the bailout cash greece is likely to default and be forced to leave the single currency bloc well for more on this let's now talk to patrick writer and executive director of the investment consultancy devi advisors so greece has met all the demands patrick yet no decision so far three meetings the last two weeks why the delay why the procrastination well i think the procrastination is because there's not actually total clarity on just what the terms were greece had to meet and ultimately lots of different well people in the whole agenda have been changing their mind on what they were going to accept from greece all along and through why did greece's try to meet lots of things but at the same point in time they've dragged their feet consistently so automatically what we have is a hodge podge of a meeting which is a hodgepodge of an entire europe fiasco going back two or three years the main issue is of course to prove the

for greece involving more pails in exchange for day shift austerity we get live reaction from germany on this latest development. on air online live from our new center here in moscow this is the nationwide protests are underway in egypt with thousands gathering in car as tahrir square to oppose president morsi is the latest decree morsi made himself and the islamist dominated upper house of parliament into any kind of oversight including from the courts and is in current and joins me now live with the latest tom what is going on at the moment what is the mood among the protesters where you are. well bill as i'm sure you can hear the sights the sounds and indeed the smells of protest and of civil disorder are thick in the air of central cairo tonight behind me in tahrir square us still. thousands of protesters waving their flags chanting to the effect that mohamed morsi the president has betrayed egypt's revolution and speaker after speaker was grabbing them the megaphones and are calling the crowds to call on mercy to reverse that declaration giving him sweeping powers last t

. children are reportedly among those killed by a fresh blast in damascus. plus greece is set for a weeks free as workers across the board kick off strikes against austerity. new cuts to satisfy international and. international news in coming from the new center here in moscow this is almost thirty million americans have already cast their votes for president queuing for hours at early polling stations across the country although too soon to tell which way the verge is working mitt romney a lot together according to most polls but lost in the rivalry between republican and democrat alternatives that many americans have longed for. here it is the venue for the next presidential debate with the alternative candidates in this election our studio in washington d.c. though it's not very big as you can see it will make sure there is lots of room for discussion on issues that somehow don't fit into the mainstream media discourse here alternatives to obama and romney have effectively been pushed out of the major national debates we ask how and why. pushed out and quite literally jule styne presid

. >> here's what's coming up in the next half hour. one week away from bankruptcy. they did that greece has made progress. >> the german chancellor putting praise on portugal for their austerity lefferts but does not get a warm welcome during her visit. >> taylor swift sweeping the european mtv awards and psy takes home a prize. >> the international creditors were set to give a greece or time to meet the debt reduction projects. they suggested giving a two-year extension but it will let some other media problems. >> european a finance ministers as they could not expect their next tranche unsold late discuss it. they could be facing bankruptcy by the end of the week. >> he said the tone of the troicha's report was positive. they want to look at whether are enough has been done in. >> we have to be faro. before a decision is made, we have to debate the issue. why are on schedule and we know what our responsibilities are but we must get to the rules. >> some questions remain unanswered. for example, how to close the gap and they're given extra time to the house in order. moscovici is pushing f

: i'm susie gharib. greece gets a badly needed bailout and avoids bankruptcy. a look at what the deal means for europe and american investors. >> tom: and it's "giving tuesday," a new effort to add charity to your gift list this holiday season. >> susie: that and more tonight on nbr! >> tom: a lengthy courtship finally resulted in the marriage today between conagra foods and ralcorp. conagra is paying $5 billion to buy private label food giant ralcorp. that works out to $90 a share, a nearly 30% premium to ralcorp's closing stock price on monday. the deal will make conagra the largest manufacturer of private label foods. suzanne pratt takes a look at what's become a booming business. >> reporter: it used to be consumers would buy private label products to clean their bathrooms or wash their clothes. lately, however, they're eating them, too. from sodas to peanut butter, private label brands are shaking off the yuck! stigma and attracting value-conscious customers. and it's the popularity of private label food that's behind the tasty conagra-ralcorp deal. >> private label, otherwise kn

really we do on page ninety four. the people of greece saw their democratically elected prime minister george pop and forced out of office in november of two thousand and eleven and replaced by an unelected conservative technocrat fellow by the name of lucas papademos most were unaware of the bigger picture of what was happening all around. similarly most of us in the united states were equally as ignorant when back in two thousand and eight despite the switchboards at the u.s. capitol collapsing under the volume of phone calls from constituents urging a no vote our elected representatives voted yes at the bush at the behest of george bush's treasury secretary hank paulson and jammed through the biggest bailout of wall street in our nation's history but now is the bank of england a key player in the ongoing euro zone crisis is the bank of england announces that former investment banker mark carney is going to be their new chief. we pretty much can no longer ignore what's happening around the world there's one tied the bines mark carney in the u.k. lucas papademos in greece and henry pa

germany parliament forty four billion euros in aid for greece. the path to palestine the u.n. overwhelmingly votes to recognize it statehood despite fears opposition from the u.s. and israel. do you think that something. could ever happen again next year next year. what does the world's top with the sleeve. talks exclusively to r.t. . you're watching r.t. live from moscow welcome now egypt's constitutional assembly has passed a new draft constitution the document is based on sharia law and has triggered fresh protests across the country opposition activists say it's a betrayal of the revolution's ideals the journalist has the details. the problem really stems from the concept itself many of the liberal leftists and church representatives actually walked out of the constituent assembly they said it was bullying from the islamist factions that dominated the constitution rights embody the key issues is the sharia law which many say the article is about sharia law leave open to interpretation to a very ultra orthodox interpretation and in addition the rights groups is saying that

greece solvent and in the eurozone. president calls on china's new leaders to turn the country into a major naval force as beijing begins a once in a decade power transfer. international news and come on live from our new center here in. we've gained exclusive access to the syrian president who continues to govern from the fronts of foreign calls to step down. those calls and warned against outside intervention in syria and he said now we spoke to. interview the embattled leader in his capital. we had a chance to speak about fifteen minutes before the interview very educated very down to unst earth definitely not. contrary to what people like people praise him in the media very well informed he feels like i think that this whole thing that's happening is like a cancer that either he has to beat or he has to die of it but there is no other way out one would talk about western leaders telling him to step down i mean it kind of sounds ridiculous because he really has nowhere to go like when he were to step down where would you go we ask in that interview you can see various routes into i

is violated. then, we turn to greece's financial crisis. paul solman offers an inside look at the negotiations to tackle the debt problems. >> as both knowledgeable outsiders and insiders attest, the tug-of-war between europe's borrowers and lenders continues and probably will, for years. >> sreenivasan: many americans are headed to the mall tonight after finishing thanksgiving dinner. we examine how black friday has morphed into gray thursday. jeffrey brown has another thanksgiving day story about a turn of the century photographer who dumented the lis of native aricans. >> he ended up being the largest traffic odyssey in american history. he ended up doing 2,200 pages of text telling life stories, diets habits, sex lives. it's documentaries of lives and nations and people and one man did it all. >> sreenivasan: and we close with an encore look at a story about china's moves to satisfy a growing demand for meat. that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: and with the ongoing support of these institutions and foundations. and

public anger and blame for the austerity strangling the country that follows mass protests saying greece to get its the cuts demanded by international lenders who got the latest just ahead for you also israel hits military targets in syria in response to mortar shells landing on its territory with spillover from syria's civil war blamed for shattering the decades long truce between the two states we gauge developments tonight. war heads roll of the b.b.c. now the news chief rather the deputy step aside over the broadcasters botched handling of child abuse claims. in a very good evening from moscow if you just joined this my name's kevin zero in this is the first tonight protests have started in portugal's capital lisbon were chancellor angela merkel visiting right now people there blaming the german leader for their nation's economic hardships the country had to adopt severe austerity measures to receive a bailout worth almost eighty billion euros last year sarah ferguson the portuguese capital for sara good evening what is the mood like in lisbon tonight. well to sum up in one word angr

the austerity that's strangling the country and follows mass protests in greece against the cuts demanded by international lenders. and more heads roll at the b.b.c. now the news chief and her deputy step aside over the broadcasters botched handling of child abuse claims. world news live from our moscow headquarters you're watching our team with me lucy conference of syria on the syrian conflict continues to break its borders with israel now feeling the ripple effect the jewish state has fired missiles over the border for two consecutive days in response to mortar shells landing in the golan heights are just fall asleep or has more details. a mortar shell landed in an open area near the vicinity of in his lady defense force a military base in the occupied golan heights it did not cause any injuries or damage but israel immediately responded and fired shells now according to israeli military sources they did hit a syrian mobile artillery but we have no more information at this stage in connection with that but certainly the israeli army confirming that they were direct hits taken

days away from falling into total economic despair also riots again erupted in greece as the greeks continued to protest the austerity measures that are destroying their country is america out of the woods when it comes to austerity policies or is there a chance republicans will still force those crippling policies down our throats and when the newly elected congress gets underway the house will still be controlled by republicans in the senate will still be controlled by democrats what that republicans across america do in twenty one to keep as many democrats as possible out of the halls of congress and what effect did it have on this year's election. you need to know this it's time to tax the rich that's the essence of what vice president joe biden said following the democrats' big wins on election night speaking to a pool of reporters on wednesday biden said democrats clearly have a mandate on tax reform and this issue of taxes will have to be settled soon as congress returns for its lame duck session next week and the so-called fiscal cliff looms at the end of the year as we appr

markets cheer a ground breaking deal for greece, they agree to reduce debt levels, cut interest rates and extend the maturity of existing loans. mark carney prepares to take up the reigns of the uk economy any. unlikely to be any good news. third quarter gd figures expected to be revised down. and it's point, click, buy. americans were doing plenty of that yesterdays as early reports suggest online holiday sales soared on cyber monday. and all bets are off. prediction market entrade says it can no longer accept u.s. customers as market regulators say its trades aren't legal. shanghai composite closed below 2,000 for the first time in three years. it comes at a time when plenty have been talking up chinese growth prospects for next year. so we'll get into that more later. but 1991 is the closing level. this the main one to watch across asia. the nikkei did manage to continue it rally adding about 0.4% as the yen weakens on comments this morning. forex, the dollar-yen one to watch, 82.19 is the level there. the aussie dollar doing a little bit abouter despite that weak number on the sha

to give greece more cash so it avoids a default, and investors around the world welcomed the agreement. here are the specifics: greece will get almost $60 billion in bailout money, loans were extended for 15 years, and interest payments deferred. in return, greece has to implement wide-ranging cuts and reforms. joining us now with analysis on the deal, joseph tanious, global market strategist at j.p. morgan funds. >> susie: so, joe, is this deal enough to get greece back on its feet? >> i think it certainly is a step in the right direction. and it was certainly more generous than i think many people had feared. however, if we're talking about getting greece back on its feet, it involves finding a way to help greece's economy actually return to growth. while some of the terms of the deals were a little more favorable than many had feared, at the end of the day, you have to find a way to help these economies grow. that probably means pausing some of that austerity. >> susie: you talk about it being a favorable deal, and you picture that other troubled companies in europe are sa

to agree on how to solve greece's debt problems. the latest delay weighing on stocks in europe. >>> the fbi launches a probe into the accounting issues in the hewlitt packard autonomy deal. the former boss of the british company hit back at the accusations in a cnbc interview. >> the first we heard about it was a press release and we utterly refuse them. these are absolutely incorrect. we'd like to learn more about them. i'm afraid the details haven't been shared with us. >>> hillary clinton joins egypt in attempting to broke aerodeal between israel and hamas. strikes on gaza and rocket attacks into israel continue. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> all right, we're into hump day, the day before thanksgiving, of course, as well. on today's show, we'll have updates from athens and brussels as the eurozone ministers fail to ruse a deal for greece. air strikes and rocket fire continue in the gaza strip in tel aviv, as hillary clinton urges both sides to diffuse violence. we'll have the latest live from zree israeli. we'l

northern europe now seems able to and willing to accept some sort of a have caught on on greece if you were the one person to make all the necessary decisions in europe what would you do i would wish that all the politicians and the central banks would go away for two three years and i think the micro economy will take care of it but in a more serious sense i think what we need to focus on to is to make sure that we don't overdo any macro policy because macro policy will fail ultimately what we need is for you and me to get the emphasis back on creating jobs in believing in economies and create transparency that way is only down through the biggest and fiscal multiply of all which is to create new jobs an increase in focus and jobs access to credit will be my two main remedies if actually all the politicians went away and did nothing the situation would resolve itself there is only i think i can prove it i mean belgium was without a government for two years every single macro indicator improved during those two years you had the presidency of president clinton being the most successful

corporate masters of the universe came for greece and with apologies to pastor new mower and we here in the united states did nothing we watch to silence those corporate technocrats toppled the democratic government of prime minister george pop and derailed and forced austerity on the greek people against their will we said nothing as unemployment rate spiraled out of control and suicide rates in greece went to forty percent we didn't flinch when a group pensioner walked up to parliament and shot himself in the head leaving behind a letter blaming austerity the red quote i cannot find any other form of struggle except a dignified end before i have to start scrounging for food from rubbish bins this week the conservative greek government unveiled a new round of austerity cuts for the greek people who've already lost their universal health care system to the banks or masters pensioners and public workers will be hit the hardest just so these corporate masters can collect their returns on their failed investments before the crash and none of us here in the united states are asking any question