will they be america and europe be able to sustain their living standards like they are today i think they'll be able to sustain them to a good degree because they have the technology and the capital but it will take sensible economic policies if europe and the us continue to spend way too much on public benefits like pensions and don't pay enough attention to research and education to raise the productivity of future workers then things will decline so there is the risk that we got it wrong on the other hand there's no reason that european and american people and companies won't profit from the growth that takes place in places like china and india it's already a global economy so i think the prospects are good but let me also. say even though places like shanghai or mumbai may not be as rich as london or paris they have their own attractions being at the center of something new and exciting and growing fast can be just as attractive as being in a place like zurich that has a lot of old but stable well jack goldstone thank you very much for this interview pleasure to be here thank yo

on europe extremely comfortable. for a different reason. that the debates in the house of commons your mind time there and this is continue to some extent have been extremely polarized been the euro fanatics who think the europe can do no wrong everything is european must be better than anything is national a little bit a whole group of xenophobes who hate foreigners who hate europe and think it's the work of the devil and the. they they both speak with loud voices both groups of a people in the middle like myself who are in no way hostile to europe as i said i live after a time in france and i voiced. enjoyed the company of many european friends people and you know who they would look at the thing objectively and say what makes sense what is makes economic and political sense of both the united kingdom and indeed for europe when i tried to persuade the european countries not to go and i was transferred not to go down the route of monetary union it wasn't because i thought it would suck britain into matter to you i knew perfectly well that

the economic outlook for europe remains grim. now the european central bank chief, mario draghi, is warning that germany, which has so far been largely immune to the debt crisis, will start to feel the effects. >> the comments came as chancellor merkel delivered a speech to the european parliament about growth. she defended her consistent push for austerity measures and fiscal responsibility and reiterated her belief that brussels should be able to supervise national budgets within the eu. >> chancellor merkel is not used to receiving applause in brussels. lawmakers often accuse her of citing only with germany, but she came to present her own vision of europe. she would like to see a timetable for a full economic and currency union like was agreed that the eu summit last month. >> we must be ambitious and demanding. we must not shrink from amending the agreement that forms the basis of our economic and monetary union if necessary. this process of consolidation in the european union is essential, and i view the european parliament

in our region krone is one of the safest currencies in europe many people here in germany and in other european countries believe that our monetary system is being pressed up against a wall and this makes us weak is when the economic crisis fully engulfed greece last year brussels was on alert then a bailout treaty brought hope and relief apparently for mature space then portugal joined the club and someone will still be others to come let's release switzerland and norway are not a you members they're doing better than any other european country as we do denmark in the czech republic or the e.u. countries and we never hear things about their whole system when it's steals all the major powers from states political economic diplomatic and military and give it to brussels and washington is doing with german chancellor angela merkel saying at least five more years will be needed to recover it's clear countries like no we will not have a deficit in labor force at least some more decades brief notion r t from no way germany and france. let's get some more on the so now on how the protests ca

know the doom and gloom of europe and the lack of outlook now i think that we are in a crisis point and when you move to a crisis mode you have to remember we become far more able to to create a mandate for change because not because of we want to have a mandate for change because we need a mandate for change and the fact the core europe as i just looted to is now in the same boat means that there is a more off of will and i see we've seen that this week through the increase in social tension of course through the demonstration but also from the mere fact that 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 em

all across the continent hundreds of flights already have been delayed or if not entirely canceled in europe with trains and buses also disrupted. this latest report. we're in the center and you can see behind me the police cars already lining the streets we've got a police helicopter overhead we're already getting figures in that being a number of arrests already made today here in madrid of course is not just spain the striking today is political we call grace we've got it's really old getting involved in this movement and a number of other countries as well belgium cyprus motor the united kingdom are also going to be having various demonstrations throughout the day old rallying around this one message and that is no new tool sterrett say now we've been covering the story very very closely since the very beginning of the euro crisis and as time has gone are we seeing how the devastating story of the horrifying figures continue to climb in spain here the moment more than twenty five percent unemployment portugal where we were just a day or two to get a record high for the fifteen percent un

fix the american economy be taken into europe can going to same measures fix europe as well or you do you do need to have different approaches because it is two different things still there are different things europe essentially has a double problem they have how do we get southern european and northern european economies to move in the same direction and for that i think the answer is don't pursue austerity pursue growth and then there's a second problem of once countries are all moving in the same direction can you fix the european financial system and create united structures so that this problem doesn't appear again as it may appear in the next economic difficulty if the current division among national financial systems isn't isn't fixed as the author of the over book on global population trends you have argued that the most important thing is really the distribution of population now that the rich economies are really out of steam and the globe. economic crisis god knows how long it will stay around will this economy sexual be capable of absorbing. even new scores of immigrants

it's fantastic living in europe, especially in the south of europe. [laughter] >> the north isn't too bad. >> the weather is good. the weather is better. [laughter] >> certainly better -- >> but the question is for me, the question is we are -- [inaudible] you consider that this is a question of years ago. and it is a question for you. you decided to continue -- [inaudible] the stability that we all allow, and look at the map of the world. the western balance continue to be the wonderful balance of the world. i wish to defend this. in the atlantic you can extend this alliance. look in the atlantic. it is not true that only the future is in the pacific. look in the atlantic. water reserves, oil reserves and land. it's very impressive. and you look in europe, north america, south america, you recreate an atlantic space not against anything, but in favor of the most ability in the world. this is an expression of this possibility agreement, free trade agreement, economic opportunity between europe and you can extend the this for the rest of the world. --

a look at what the deal means for europe and american investors. >> tom: and it's "givng 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 known as store brands, is ining traction with retailers and shoppers. in fact, s

but two factors here the first one is a very weak economy situation in europe and the second one. is the temperature situations bourse in some not because somebody was going to hold that's why their condition didn't consume too much gas. i mean the big three cities called you can consume too much gas and. until now we don't see. good temperature for consumption. in europe is substantially higher of a village waited for for the last maybe fifteen twenty years so there is no targeting us just to sell as much gas as possible our target is to sell as much gas . will be efficient to sell and that's why we. are not just running for good round figures specially we use a we're in a position to optimize production of our main gas fields and it will be in the decline of production by the way of oldfield's who most lower than expected in the past plus we introduced by new field which is one of the journalists in our crown. and guess who is transport it was in yuma sense in a very efficient way so we as i told you we will not just deliver to the market we will develop the market including. yo

we won't let europe ruin us. europe will be isolated. that's what happens if you decide to go off the grid like they're doing. their major issue is carbon tax. they keep talking about carbon tax. the european, the german power company talking about having too much solar power which is bringing down and able to make money so they bring in coal. that's what they talk about? >> wow. >> back to the network side of things. we almost went a 360 here. >> that's the nature of our discussion. >> juniper and river bed are up on the back of cisco's earning report. >> emc is the biggest partner. he called that out. i felt like the cruise ship speech. he takes the shoe off will bury. people haven't bothered to read the call. everyone thought that hewlett was eating lunch but he took it to hewlett. i never heard him be this combative. i think he wants -- >> i'm not sure hewlett goes up anymore. >> you have sap going up. pc business in disarray. intel hitting 52-week low. how good is the printer business? best buy? sop what business is going to come to

in other countries in europe well potentially it could be happening anywhere but the thing about the u.k. industry is that gas prices there are actually pretty high let's look at the numbers what we're seeing is that of romania has the lowest natural gas prices of any country in the e.u. by contrast swedish consumers have to pay almost five times as much and in the u.k. households on average pay an equivalent of about eighty europe per month something still similar to what consumers in the states have to pay but in the u.k. gas has nearly doubled over the past seven years as for every one percent increase about forty thousand people slip into what's known as fuel poverty defined as well having to spend about ten percent or more of your monthly income on energy bills and there are about five million people in the u.k. at the moment that fall into that category i mean regulators and watchdogs in the in all of these countries you've mentioned a very important bodies and you're saying that basically turns out the price rigging might have been playing a role in all of this it might have b

for many years in throughout europe an igloo you need only kingdom of form of political correctness in which it was felt that anything which was european was a noble ideal and anybody who criticize it was desperately politically incorrect or appear as it was so to the public is put it with its basis in peace and democracy if the public didn't. and he better he did. i think the principal promoters of it knew that it was a gamble and in my judgment it was a grossly irresponsible gamble but they were gambling they wanted their objective and they had been for a long time was a full political union united states of you and they thought that the room or service logic would of monetary would force the political union to arrive and that's what they wanted the reason why it was an irresponsible because as we see if in fact the peoples of europe don't want to. going to get a political then you have an economic disaster and that is what we have now but they of course one of the defects of the europeans the european movement you know the european people european movement the people mostly but over

i mean so no new city in europe i'm the host of the twenty fourteen winter olympics . say. thank you. scots. thank you the. dog days of. the pride days it. takes a common. sudsy it's so true. plus. clinician and free credit cation free transport charges free. range month free risk free studio time free.

this is what europe is doing as we speak. low volumes being traded, because of all the uncertainty, there is a certain validity in saying that these numbers do not work, but if you look at the lack of economic growth, today we learned the third quarter in the greek economy shrank by 7.2% this year and the economy is expected to shrink next year. the sixth year in a row where we are seeing the greek economy going in reverse. all of this bailout money just does not work. >> do you know what else is not working? some cars. >> if you are a toyota executive today, you will be suffering from another big headache. today they recall nearly 3 million vehicles. the problem with these ones is the water pump or steering problem. half of the cars are on the road in japan, most are on the road in -- the rest are on the road in europe and the united states. all of this is a problem for toyota. last month, 7 million recalls over the faulty electrical window bond -- button. 12 million vehicles were recalled over a sticking accelerator. the pr

europe's visions become blurred in recent times as reality has set in huge unemployment to sweat the e.u. as a stereotype hits hard in large scale protests and now a common occurrence in britain an anti e.u. political party ukip has seen a rise in support from people who feel britain would now be better going it alone my party ukraine depends party is quite happy with friendship cooperation and try which is the way that this has been sold to the british people over the decades but it's not about that it's always been about creating a centralized political state united states of europe in a sorry in reality if not in nine that's where it's gone wrong because there isn't what people want so just what do you people once r.t. conducted it saying many referendum asking the british people if they were given the vote today whether they'd vote in all out i'd like britain to be part of europe and script trade is good for business and if we're outside of it then we're going to sell it's just a lot easier when everything is in the you know passports needed ok. i don't think we should be in the

very much different from the rest of europe could it be happening in europe well potentially could be happening everywhere but the one thing to remember about the u.k. is that fries gas prices that are pretty high there in fact they're pretty close to the top of the range let's look at the actual numbers of romania has the lowest natural gas prices in the e.u. by contrast swedish consumers have to pay about five times as much. and in the u.k. households pay on average an equivalent of about eighty euro a month for their gas bills similar to what u.s. consumers have to pay but the one thing to remember is that in the u.k. gas which is the most that he used that utility has nearly doubled in price over the past seven years and there are a couple of factors that lead to doubt first the fact of course said gas prices is tied to prices that have been on the rise over the past decade and also the fact that the state does not subsidize gas bills in the u.k. whatsoever and for every one percent increase in the energy bills forty thousand people in the u.k. slip into what's called fuel poverty

political union and united states of europe which is what the architects of danceable do i live fearful that people don't believe nice they don't want you to be great majority of the people if you are don't want this political union. and they're not likely to want it there for the currency union can't work and therefore you shouldn't buckle now at the beginning we saw euro skeptics there very much lost their opinions last that why weren't those points that you were putting across at the time ignored i think the time. there were a lot of people didn't understand what monetary union really meant what it would lead to what you've raised no what was necessary if it was to be even hopefully successful i don't think. even with a political union there would be any economic benefit but at least you could sustain it with a full political union. going to happen i believe many people didn't understand what the ins and outs were there were some people who thought oh well it probably won't happen because this was a said some years before it was due to happen and people probably wouldn't happen and a

cards or to go prepares an angry reception for the german chancellor are seen as the main force behind europe's very dry. this dirty life from moscow with me wearing a joshie serious fractured opposition has managed to form a new political body to help the rebels and their foreign backers oust president said the deal signed in the qatari capital doha follows pressure from western and arab supporters who are also waiting to see the formation of syria's new government in exile are disposal your reports from the region. this comes after days of political wrangling amongst the various syrian opposition forces they have been under pressure from both the united states as well as arab governments to form this unified body it is a sixty member assembly but it really brings together a wide array of people and organizations with very different affiliations it is essentially a patchwork organization amongst the new leaders are sunni muslims as well as a christian former communist and among the rebel fighters are those coming from very different ethnic and religious backgrounds with many asking the questio

elections they are today after all but what about europe what is going on in europe that we've been missing and what can we learn from europe about what may be coming for the united states edward harrison is with me as founder of credit write downs he's helping us assess all of this so now edward i have to admit with europe going on so long and feeling a little like groundhog day with the eurozone crisis i'm a little behind i know angela merkel said that this is not going to be over in one to two years we're looking at five years at least so are we doomed to five more years of groundhog day type news out of the eurozone and what are the key things that we should be not miss saying with our eyes glazing over at times. we have to be thinking about political sustainability versus you know what i would call debt deflation on the one hand you have the path which is that you know in countries like germany people are saying these people in greece or spain and so forth they really need to tighten their belts we've done therefore they need to do it as well but at the same time we don't want the whol

well i think the most obvious reason that it's going to be different is because all of southern europe is engaged in a general strike in their days of action all over all over the continent i think also the scale and the intensity of the conflict opened up by a type of mobilization like a general strike is it is something very different than we've seen with the indignados and we really haven't seen the most intense part of the of the mobilization yet i mean the protests in major cities besides the picket lines and all of that haven't really started that starts at six o'clock where people who maybe haven't been able to take part in the picket lines or in the actual strike them selves or people who have participated in the strike will join in what will what we expect to be a hundred thousand person marches what are you saying though in those protests are you coming up with some sort of alternative whereby many people are saying of course austerity is the necessary power no alternative. well i mean i think a protest isn't about a solution a protest is normally about something you don't wa

the premium sector is doing very well and the premium is growing in europe. we also have other brands which are very relevant agreeing in euroyou'r growing in europe. we have to work with other developers to have a positive story with beer. we also need to regrow the capital. the capital is not growing. and for the long term, you want a healthy and die magic category for everyone to compete. there is everything which is healthy about beer. beer is much less calories than many thinks you can think about. >> many a morning i thought to myself why. >> beer has less calories than a glass of milk. the other thing -- >> i'll give me 3-year-old a beer. >> i wouldn't go that far. but beer is one of the few drinks that's absolutely purely natural. water, hops, yeast. >> beer is good for you. all these preg thantd mothers are cheering up. >> working harder to convince the female drinker. but you did make a strong pitch recently with the product placement in the new james bond film. >> the most important thing is that this partnership is valuable for both friends. heine

could help out europe or indeed it could capitalize on the problems in europe. well i think china certainly wants to continue to develop a very close interdependent relationship with europe. europe has been one of the principal overseas destinations and this is picked up recently. in terms of what is called o.d.i. are over these outbound direct investment from china now it's very interesting to note that china has earmarked over one trillion u.s. dollars for overseas direct investment over the next few years and europe is one of the principal beneficiaries here so there is that dimension in terms of investment of course but the european union is currently china's number one trading partner so that there is a very robust trade that occurs and is occurring between. the two the two powers at the same time course china has has an abiding interest in seeing europe resolve its debt problems the debt crisis is affecting southern europe and indeed has participated to. some extent in cooperating with the european central bank in terms of greece's. financial difficulties

euro out of europe. that is try to buy the european equities but if you can, ahead to the euro because the euro is a big risk. chances of the euro going back to 160 su above $1, and knows? 5050. the currency in europe gets much weaker than it has been, it will impact the american equity investors. let's get exposure to european equities so you have exposure but let's had the impact of the euro and we have done that in the first hedged europe equity batf out there so be conscious of the currency because it could go either way and the same thing in japan. the currency in japan is at a pivot point. so i would be looking at had japanese equity. it may weaken from here. the dollar is weakening but strengthening for 25 years and getting to and inflexion point. they have an election coming a. bank of japan getting more aggressive than you might see a weakening yen and going forward. cheryl: thank you very much. great to have you on the show. appreciate it. we have 6 minutes to go until the bell rings. shares of

in europe's biggest economy, germany, third quarter gdp growth came in at just 0.2%. it was the same figure in france, though analysts had been expecting even weaker numbers. in the netherlands, the economy contracted in the third quarter. one reason is more and more consumers are cutting back on their spending, fearing tough times ahead. another reason is that businesses are also scaling back. manufacturers also anticipate weaker demand from struggling eurozone partners. >> news of the recession did not pull down the market drastically. our correspondence sent us this report from the frankfurt stock exchange. >> of course it is bad news that the economy and the eurozone slipped into recession, but still, traders managed to find a few positive aspects in the reports. in italy, the contraction was much smaller than what economists had anticipated. france against the odds managed to produceive gross domestic product. this means, for germany, the possibility remains intact that our economy during the current quarter remains in positive territory as well. the biggest-lose

europe or the fiscal cliff? >> i actually think -- i think it would be the fiscal cliff but i have to tell you, if europe starts to implode and look what they're doing in greece today, if that movement starts to move to spain and the other countries that's going to steal the headlines. >> i think those pictures as well. even if we don't get headlines out of greece. when you see those kinds of pictures, it brings it all back home. >> it brings it all back home. then people are concerned that it gets out of control. then it starts to go to spain. starts to go to the other countries. then does it in fact come to our shores? if we go over the fiscal cliff. >> i'll see you a little later in the show. >>> phil lebeau joins us now. he's got more on the late breaking news on boeing for us. what do you got, phil? >> sue, boeing is just announcing that it is doing what essentially is -- what they're saying is not a major restructuring but is nonetheless a further restriction and movement and consolidation of mid level exe

will slip into another recession and that will hugely affect the rest of europe and europe is not going to take that sitting down that's already been a sort of war of words between the u.s. and european countries a bomb seemed to be meddling earlier this year in the economic affairs of european countries and particularly germany and france old of why it is not good they said to the u.s. to mind your own deficit and your own debt. from the flames the u.s. how intricate the economic crisis pretty economy could be a thing which is which really comes into play in the next couple of months if obama can't get that budget deal through congress largely on his plate in the next coming weeks for sure do you years or are there is a feeling that obama is more diplomatic than romney might have been when it comes to relations with russia so what obama the victor how do feature moscow washington ties look. well on one hand many of you obama is the engine behind you the reset of relations with moscow on the biggest achievement is that is the new nuclear arms reduction treaty but on the other some of th

it's no different than europe. the german miracle of economic production was, in fact, a facade supported by mass conscription that eliminated unemployment. but by 1934 and early 1935, germany's economy was already rolling back to its pre-hitler status. only the imp position of -- imposition of tariffs and soon the acquisition of vast new lands and slave workers allowed albert spear to sustain nazi production. even then germany faced a fatal and hugely-ironic reality of reverse -- [inaudible] in which undesirable peoples were flooding back into germany to sustain the war effort while german soldiers in vast numbers were being sent to russia to die. when the germans vendorred and -- surrenders, the american propensity to save dear human lives while wasting cheap bullets and bombs reached its zenith with the dropping of the two atomic bombs. vir culley all -- virtually all of the relevant evidence, recent evidence from both american and japanese sources validates president harry truman's decision to drop both bombs.

it is great because it is what it is lying in the part of europe asia. economical and political collaboration co corp well let's get the details on this deal from katie pilbeam she's at the business desk for us so katie purchase a trend is selling up desperate times desperate measures yeah i think they do definitely. persia's financial strains at the moment they are in a bit of a sticky situation a lot of that is being caused by the dwindling demand from the likes of europe and the u.s. they did say back in february that they were selling one point five billion euros of equivalents just under one point nine billion dollars in a cost cutting programs they've also have the banking and the credit of that business actually rescued by the government as well as that they had to close a factory just outside paris and as a result had to slash eight thousand jobs as a result so now a days we see russian railways coming in like the white knight to save the day but you know even a few years back you wouldn't expect european companies to be even trading with russia

europe and asia including both china and japan. google says the number of government requests to access and remove online data has risen to twenty two of the us once again top the list asking for the private information of almost eight thousand users in the first six months of the year. later the u.k. pirate party he told me that he believes the government uses national security as a pretext to get its hands on personal data thing a very worrying trend each time that these reports are being have been republished by google we've seen an increase of prayer requests from a whole range of things there's been a lot of copyright requests but also i think most alarmingly is this trend towards requesting personal date we hear this mantra of national security all the time there are a perfectly legitimate way to get and to gain or to gain information which in that is under through the rule of law and through getting a warrant in a court. what is particularly alarming it's that actually this is part of a general trend towards governments want

we see what's happening in europe, and there is a pushback in europe. there's political groups in europe that look to reagan and thatcher, the alliance of european conservatives and reformists. i spoke there in may. there's many people who want to return to the days of -- well, use the principles, not return to the days, necessarily, but use the principles of reagan and thatcher and president claus in the czech republic who are pro-american, pro-free enterprise, pro-sovereignty. it doesn't come from the mainstream parties. it doesn't come from angela merkel and the german and french so-called conservatives. but it does come from elements within the british conservatives and elements in central and eastern europe. so there is pushback there. so it's another ray of hope, you might say. >> you didn't use the word "insidious." [laughter] >> well, you can use it. >> it is an insidious -- >> waiting for you to bring it up. [laughter] >> and the glaring example of why it won't work is europe, the european union, that you just talked about. it isn't working so

if europe, higher by 0.8%. coming off the 3 1/2 month low that we saw in the close on friday, helped along by optimism on the negotiations to avoid a fiscal cliff state side. we saw quite a rally in the u.s. on friday's close and that is feeding through to europe here this morning. ftse 100 higher by 09%, xetra dax by more than 1% and ibex 35 more than half a percentage point. the bond markets, the question is whether or not we'll see a lid on on bond prices on treasuries especially if we manage to overt a fiscal cliff scenario, if we see productive talks continuing. right now we're seeing the yield on on the ten year bund just a little bit higher. we're seeing a bit of buying taking place in the spanish and italian debt market on the ten year and a little bit of selling on on the gilt. the currency markets just to give you a full update on where we are, we have a relatively flat on slightly higher euro-dollar. so we're in the lower end of that range still that we've been trading in for quite some time right no

and in the south of europe has been a catalyzer of the years of the. movement we can see in the sense that people in total believe that with our own resources human capital economic resources we could be better off if not being in the spanish estate this is a reality that a lot of economic research has show many catalans find it a persuasive argument it's one of spain's wealthiest regions producing a fifth of the country's economic output but it pays around sixteen billion euros a year more in taxes than it gets back in madrid which has in tune insisted public services into austerity cuts. this is not fair i mean we are the ones who. we're. doing our best in mccormick reasons we cannot have all the weight of this measure and the central government for us is the one who is spending the most and not in the best way last september barcelona witnessed one of the largest separatist rallies here since the nineteen seventies over one and a half million cattle and took to the streets to call for independence but the path to becoming a new european state is far

>> i think europe has certainly made some real progress. particularly in the last few months in putting a firewall in place that doesn't allow the problems it in spain, spanish debt, for example to infect other markets such as france or even germany. but at the same time you've got to look at the general economic picture there which is still quite soft and just yet the president was talking about the effects of the euro joan crisis has had. while they are certainly better off then they were they are not on the right path to better growth. >> so here in the u.s. post-election day two days of significant selling pressure with the drumbeat of the cliff getting louder but you mentioned cracks exposed in europe. what do you think is really driving the selling that we are seeing here in the u.s.? >> it is a great question. i think you can chalk up yesterday's response to the election. a bit of a surprise though it really shouldn't have been. what we are seeing now is the beginning of the real says that the negotiation around the fis wall-- fiscal

stressed that building up europe's capabilities would save and even create jobs pumping more investment into the military industry not all member states are going to be jumping for joy over the plans the more ambitious e.u. common security and defense policy could leave britain between a rock and a hard place the u.k. could end up getting dragged into military campaigns that it has no interest in joining. now british. council bannerman voted against the move accusing brussels of engro cheating on sovereignty by expecting states to relinquish control of the fans and security decisions. it really does trespass international responsibilities for the feds and it's talking about you looking after it. so it's a direct assault on solvency is this really is about politics rather than the that this is about actually furthering the cause of the united states and europe because they want to single single defense industry they want control for you it's part of their policy and they're actually involved in they want to get in for the high intensity conflicts in their terminology and that means war i

. >> europe is going to have to take on more responsibilities. the u.s. expects to do more militarily and expects us to get the turbulence with the euro under control, so germany is going to do more in every respect. >> the u.s., then pose a global role may be changing, but most germans still see obama as a hero -- the u.s.'s global role may be changing. >> there have been some disappointments. he was not able to push through as many reforms as he promised. >> he is still better than romney. >> i would vote for obama. why? i think he is more progressive and cares more about the people. >> his competitor -- money alone is not enough. i just think he is less concerned about everyone in the u.s. >> obama would be better for germany. >> obama's german supporters are holding their breath to see who comes out on top, but whoever wins, the next four years hold many challenges, both for the u.s. and for europe. >> the european union's budget is coming under increased scrutiny. on tuesday, you auditors released their report on spending, saying that at times, it wa

weather across much of northern europe. on the west coast of the scandinavian peninsula 80 kilometer per hour winds reported in the northern portions of the british isles. also gusty winds, heavy rainfall. farther south we're talking about portugal and spain, storm systems moving onshore, in portugal heavy rain warnings and high winds warnings in effect currently due to the storm system coming onshore just bringing all the heavy weather with it. on the other side of the mediterranean we'll continue to watch this low pressure area still bringing heavy rain showers out toward italy as it works its way in toward the balkans and eventually turkey still bringing all the rough weather with it. north of that though see all the clear skies? central and eastern europe? it's also accompanied by cool temperatures. warsaw only a high of 16. you are going to be seeing some fog especially through the early morning hours. continue to watch out for that. london a high of 10 here on your friday. here's a look, extended forecast. >>> recappi

it's not about that it's always been about creating a centralised political state united states of europe in a sorry in reality if not in nine that's where it's gone wrong because that isn't what people want so you just want people once r.t. conducted its own mini referendum asking the british people if they were given the vay today whether they'd vote in all out i'd like britain to be part of europe that's good for trade is good for business and if we're outside of it then we're going to sell it's just a lot easier when everything is in the u. n. no passports needed. i don't think we should be in the e.u. because that way we'd be free to make up our own laws and follow them ourselves or process a minuses there's no absolute answer to that i feel at ease results were inconclusive it seems whether you're the prime minister you're a skeptic a member of the. public just a reporter trying to judge the outcome of a possible future referendum is next to impossible right now a recent newspaper poll found more than half of these asked would vote to leave the e.u. in a referendum what's clear is t

and they yes they have even though this is one of the most coordinated waves of the protests in europe and the people apparently have been focusing on different aspects and different countries of austerity now look at that in more detail after this short break and thanks lot to each. sisters. miss it's in. day care my daddy. does a famous reuse benson played his own. ransom business. thank. you.

we want a united europe. we want it integrated europe. we want a political europe. that is truly in the interest of europe. ladies and gentlemen -- >> to you mrs. merkel, you talked about european history. you have an intensive experience of that in your own life, your own life shows how important the united and free europe is. we in the epp have trust in you that the european union and you will continue to shape the european union. thank you. [applause] >> translator: i gave you seven minutes after all. he fully supports mr. daul. the next speaker is mr. swope at us from the national democratic. >> translator: i am glad that you have come, chancellor. i admire you personally. i'd meyer your commitment to europe, but i then have to ask myself about the national german policy for the e.u.. you know much better than i do chancellor that the german economic miracle was based on the good social conditions that we have had in germany. that you had in germany. there was the troika. we have seen the breakdown of social networks and increase you have seen what happened. you

tonight, europe -- euro mp's had decided not to take part. on all economic fronts, europe is in crisis. >> a lot to watch their. thanks very much for the update. >> let's move to the markets now. investors did not have much to celebrate this tuesday. our correspondence sent us this report from the frankfurt stock exchange. >> the discussion in brussels about greece weighed on the general mood of the markets, even though there was a bit of a recovery towards the end of the trading day, but investors remain concerned about greece and about the way that the euro debt crisis is being sold -- solved. so all this, there were more reasons for investors to be bad tempered, for example, a dismal quarterly earnings report for the german utility, which came along with a profit warning. and there was the zed, the center for european economic research, which presented investor sentiment, which can lie and much less -- much worse than anticipated, especially the outlook of investors on to the future, much more negative than anyone here had anticipated. the