he will help europe to create a greater europe. nightmare,uld be a but give him 100 days to see what happens when she becomes more president. melinda: thanks all of you for being with us and all of you out there for tuning in. ñ;a]]]]]]] >> welcome to a very special new years edition of focus on europe, i'm michelle henery. we are wrapping up 2016 by taking a look back at some of our best reports of the year. and what a year it was! we've seen just how divided this continent is. it was a shock to many europeans when britain voted to leave the european union in the brexit referendumum. ththe fishermen in cornwall, however, are elated. >> bye-bye brussels! now we can spend our own money on what we think is right. >> the fishermen of no w

he will help europe to create a greater europe. nightmare,uld be a but give him 100 days to see what happens when she becomes more president. melinda: thanks all of you for being with us and all of you out there for tuning in. a announcer: this is a production of china central television america. mike: whwhat makeses a visionan? for some, it's the passion for innovation. for others, it's seeing opportunities to make a difference when others have given up. this week on "full frame," conversations with visionaries who are using their global fame to make an impact. i'm mike walter coming to o you from the heart of new york city's vibrant timemes square. let's take it "full frame."

the eu, you stop trading with europe, and thatis you stop trading with europe, and that is not the case. this isn't about stopping trading with europe, it's about trading in a restricted single market that stops us trading freely with other countries. we heard evidence in the brexit select committee that if there isn't an agreement on that by the end of two years, transitional arrangements could allow us to trade at zero tariffs with the eu until a free—trade agreement is reached. so there is plenty of scope for opportunities and we need to explore all of those to get the best deal for the british people. some say she is throwing in the towel by not trying to get the best sort of terms to stay in the single market while exploring the potential for freedom of movement at the same time, and then move into the final position of dropping out completely. is she throwing in the towel?|j dropping out completely. is she throwing in the towel? i don't think so. throwing in the towel? i don't think so. all of us recognise that having access to the single market would be access to the single mar

, the europe where there could be a referendum in europe, for example, and in italy and in france, which could very easily go the same way as ours did and i think we might, a year from now... alas, it won't be delayed. you hear labour, most labour people, a few rebels, corbyn saying "we are going to sign it". the lib dems won't, but she will get it through, i am afraid. the other point of clarity, polly, with due respect, i felt it was clear in one aspect. she's willing to go for brinkmanship with europe. she has a way of taking both sides to ransom. "if you don't agree with me, we have another way of becoming a different country". that's a reasonable negotiating tactic. expect it's such a terrible prospect. she wants us to be a singapore, a bargain basement, lowest possible tax... we would be cutting off our own nose to spite our face if we did that. i agree, and the impossibility of her suggestion of course strikes you immediately, because there's so many circles to square, as it were. one thing is, where is the money? we talk about money in the trump case. where does she get the money

forces in europe since the end of the cold war 25 years ago. it's part of the european reassurance initiative and operation atlantic resolve -- a $3.5 billion dollar effort paid for by the united states to reinforce nato. >> i am very proud that we're a member of nato. >> reporter: at the start of the deployment, army major general tim mcguire joked by rushing to meet the deadline set by the obama administration, his units weren't able to change their vehicle camouflage. >> to get them here as scheduled in january, just do not have time to paint them green. >> reporter: but the army is anxious to deliver a serious message: to demonstrate to allies and adversaries alike the u.s. is determined to assist nato in defending eastern europe from potential aggression from russia. >> the combat power here is a tangible sign of the continued commitment of the united states of america. it is one that enables us to work with our allies and send a message that we remain committed. >> you've got tanks here. >> reporter: brigade commander colonel christopher

, but beyond europe too. plan ihe heart of the set out earlier this week is a determination to pursue a bold and ambitious free trade agreement between the u.k. and the european union. but more than that, we seek the freedom to strike new trade deals with old friends and new allies right around the world as well. that we've already started discussions on future trade ties with countries like australia, new zealand, and includingle countries china, brazil, and the gulf states have expressed their interest in striking trade deals with us. it is about embracing genuine free trade, because that is the basis of our prosperity, but also the best way to cement the multilateral or ships and cooperation that help to build a better world. the challenges we face, like terrorism, climate change, and modern slavery, don't stop at national borders. nor do they stop at the borders of continents. the challenges and opportunities before us require us to look outwards in a spirit of cooperation and partnership. that is why, as

neil: i think people underestimate the desire of many politicians in europe to remain in europe. the pention is whether has the same political dna that maybe every other politician you and i have ever had analyze has had. foron still want something guy: france. hold the french politics, we will talk about that. how much positioning inside the boat at the moment is inside this trade? neil: i think the default for the big insurance companies enjoy the bund. it doesn't matter what it is priced at, they don't manage it in that way. with the cash they see coming in the in there businesses they would not be buying the bund they would be looking to make more risk and return. guy: we will get into the french story next. stay with us. france's presidential primary takes the first round of voting. leftistt voters any policy. certainly fits with france. globe.g the opec and other nations struck a deal about output cuts and exit wounds. steady decline in u.k. wages over the next 20 years. on that interview later in this program. this is bloombeg. ♪ guy: welcome back to the european open. 1

much needed in europe. some neutrality had a business side to it, but the white house and congress, it was even more important that the american public was in no mood to join the fight. the supplied not only to pacifist -- applied not only to pacifist movements that sympathy for britain and france along the east coast, also to the rest of the country. there were the american-german communities in the midwest totaling 20% of the west, many of the members who were pro-german at this point. be neutral also have the advantage american deliveries could be made as long as they were sent to both sides of the european war. but the blockades britain imposed on germany, these deliveries quickly became under the observation of international law. i would like to expand on what was said until yesterday about the naval warfare, because there is an international law i mentioned, and there is a good book which i would like to mention. this precisely looks at the changes in the laws of warfare and international law in this

more europe. they are actually anti-european and anti-democratic. >> who can stand up to these right-wing populists? melinda: derek scally, the other guests just weighed in quite vocally on what they think is driving divisions here in germany and elsewhere, whether it is more of a social and economic, or a nationalist issue. how do you see it, and do you think martin schulz is the man to staunch the bleeding from the social democratic party? it has seen voters leaving from the left to move toward the rightt, this alternative for germany. derek: it is like 100 years ago when the far right started pulling left because they said, we are a better r representation of your interest.t. martin schulz, on his last interview before he left brussels, he said, i want to finally make clear to people that it is dangerous to come to brussels and then go home and say some invisible force put pressure on me to agree to something. he will be trying to call out this lie at the heart of politics in europe that someho

so to our friends across europe, let me say this. the europeaneave union was no rejection of the values we share. eu decision to leave the represents no desire to become more distant to you, our friends and neighbors. it was no attempt to do harm to the eu itself or any of its remaining member states. we do not want to turn the clock back to the days when europe was less peaceful, less secure, and less able to trade freely. it was a vote to restore as we see it our parliamentary democracy, natural self-determination, and to become even more global and internationalist in action and in spirit. we will continue to be reliable partners, willing allies, and close friends. we want to buy your goods and services, trade with you as freely as possible, and work with one another to make sure we are all safer, more secure, and more prosperous through continued friendship. you will still be welcome in this country as we help our citizens will be welcome in yours at a time when we face serious threats to our enemies. our intelligence committees

francine: you were mentioning europe and the fact you are more concerned about the economies of europe. is there anything politicians can do to stave off -- i don't know if you want to call it a wave of populism or being more in touch with the voter anger, let's call it that. douglas: obviously, i'm not a olitician or social scientist, reward for their savings. so, you can argue both sides, and economists do. francine: you were mentioning europe and the fact you are more concerned about the economies of urope. is there anything politicians can do to stave off -- i don't know if you want to call it a wave of populism or being more in touch with the voter anger, let's call it that. douglas: obviously, i'm not a politician or social scientist, but it does seem to me that people react badly to uncertainty in their own osition. you know, they want to believe that the future will give them more opportunities to be able to do more for their families. their kids will have a better than they have had, and so on, nd so forth. and i think that means giving some confidence to populations about the

within terms of europe, that broad brush of buying europe, of course typically what happens, when you have long periods of negative sentiment toward a particular region, you get all companies being tarnished. if you start looking amongst the european companies that are there, you can pick out -- from a bottom up approach, you can pick out the winners, which are still trading at attractive valuations compared to their peers. matt: can you look at central-bank policy and say may be draghi is the most dovish, and that will support european equities more than you will see the bank of england with the fed supporting equities in each of their respective countries? guest said the european central bank has a scorched-earth policy when it comes to monetary policy. >> yeah. i think that's correct. certainly with the ecb, for the time being, we have their support. but this is not the reason why i would recommend europe over large-cap u.s. it is more to do a simple valuation. as the year goes on we will see increasing pressure from particularly germany for the ecb to start drawing to a close. as

at risk of the thousands of refugees still crossing europe on foot. three died in the mountain in bulgaria. in belgrade as several hundred took celta in this customs warehouse. this weekend russia celebrated orthodox christmas the coldest in 120 years. —30 in moscow last night but then they are used to it. around 500 people, perhaps with just one extra layer, set off for a five mile bike ride along the moscow river. so far the uk has escaped but forecasters say the cold weather is heading our way. there will not be as much snow as in europe but the arctic winds could send temperatures below those of iceland and sweden. credit card and personal loan debt is at record levels according to new analysis by the tuc. it says unsecured debt — that is money that's not borrowed against property — has reached £13,000 per household. unions are warning a slowdown in wage growth and increasing inflation could make the debt more difficult to repay for many people this year. here's our business correspondent joe lynam. with the christmas sales winding down, ou

so to our friends across europe, let me say this. our vote to leave the european union was no rejection of the values we share. the decision to leave the eu represents no desire to become more distant to you, our friends and neighbors. it was no attempt to do harm to the eu itself or to any of its remaining member states. we do not want to turn the clock back to the days when europe was less peaceful, less secure and , less able to trade freely. it was a vote to restore, as we see it, our parliamentary democracy, national self-determination, and to become even more global and internationalist in action and in spirit. we will continue to be reliable partners, willing allies and , close friends. we want to buy your goods and services, sell you ours, trade with you as freely as possible, and work with one another to make sure we are all safer, more secure and more prosperous , through continued friendship. you will still be welcome in this country as we hope our citizens will be welcome in yours. at a time when together we face a seriou

the monopoly of a bomb, but actually to destroy europe, to invest in europe and to invest in britain, and lend britain the money it needed to get back on its feet, then europe would have something which will, to use his phrase, stop the world. so six months later he goes to a university. the zurich speech is as remarkable as the first speech in a different way. and there's an instant connection. he said, i'm going to say something now which will stop. he writes in "now." and what he proposes is a kind of united states in europe. he's not proposing britain be a member of it at all. but in the speech he says, we have to build a kind of united states in europe. and it has to be led by a partnership of reconciliation. between france and germany. now, this is september 1946. the french have just executed a collaborator. there are nazi atrocities of horror. yet here he is standing at the second podium and proposing this second reconciliation between france and germany. to go is an po president-elect tick. trying to explain what he said. but actually -- [ inaudible ] -- i'll tell you what m

economy with europe to trade with the rest of the e.u. manus: and passporting is an absolute integral part of that with the banking voices for making very clear. mouhammed choukeir stays with us. volkswagen has bloated budget for the scandal. blown its budget for the scandal. that is more. this is bloomberg. ♪ matt: welcome back to the european market open. markets than across the board this morning. i'm standing by at a goldman sachs conference in frankfurt cranny inmanus london. volkswagen is closing in on a deal to settle a u.s. probe in cheating on its omissions tests. the admission will include a guilty plea and raise the cost of the scandal to more than $23 billion for another america alone -- for north america alone. upload the budget the carmaker had set aside -- that blows the budget the carmaker had set aside. tom, what still means to be done to complete this settlement? settlement is a final chunk of a larger lawsuitnt and consumer which is being overseen in a federal court in san francisco, boarday, the supervisory of volksw

a good friend and neighbor to europe. yet i know there are some voices calling for a punitive deal that punishes britain, and it goes with other countries from taking the same path. that would be an act of calamitous self harm for the countries of europe, and it would not be the act of a friend. -- indeed, wenot could not -- accept such ann approach. while i am confident that this sure ao -- while i am positive agreement can be reached, i am equally clearqwum announcer: this is a production of china central television amamerica. mike: "awesome" " is an adjectie used to describe everything from the latest trending youtube video to life-changing moments, but some ideas are simply just, well, awesome. this week onon "full frame," the awesome episode. i'm mike walter coming to you from the heart of new york city's vibrant times square. let's take it "full frame."

coming up next, politics europe. hello, and welcome to politics europe. on today's programme. theresa may spells out her brexit plant, confirming the uk will leave the single market, warning eu leaders that no deal is better than a bad deal. we will look at reaction gci’oss a bad deal. we will look at reaction across europe and examine the likely negotiating strategy of the of the eu. we report from strasbourg where meps have voted for this man, antonio, as the new president of the european parliament. and as donald trump enters the white house, how are the residents of melania trump's hometown in slovenia celebrating the success hometown in slovenia celebrating the success of their most famous ex—resident. success of their most famous ex-resident. i put white chocolate because of the white house, she is a lwa ys because of the white house, she is always dressed in white. so i put white chocolate. so, all that to come and more in the next half—hour. first, though, here is our guide to the latest from europe in just 60 seconds. after much anticipation, on tuesday, prime m

lose and a lose for europe. francine: to protect london this is what you say you want privileged access to the eu single market. guest: london has been a city ,hich has attracted trade talent, and ideas for a thousand years. one of the joys and benefits is being a member of the single market. we will be leaving the single market. that will not necessarily mean we will have privileged access and it does not mean we will stop attracting talent. when it comes to negotiating we need to ensure we can secure privileged access to the single market and continue to attract talent. i am looking for business leaders across europe and the world to be my allies, to lobby their political leaders so when it comes to doing the deal with the u.k., the terms are good for the u.k. in london but europe and the world. francine: that would mean that financial services are the top in terms of the list when the prime minister goes to brussels and negotiates. it was not the impression we got earlier. in the attempts to keep the party to

they recommend europe will rally in 2017. a weaker euro, stronger global demand and recovery in oil prices. the s&p 500 will deliver a 4% return. we talked about, speculate, what will it take for markets to recover? there is a great note talking about it. these moments are sharp, so use shock. deal with the reality. hock, absorb,-- s reality. three hours to recover. these are new missives coming, new invectives coming from the new president of the united states of america, so let us see how the world really reacts. industry may be using rhetoric to approach the president, but do they need to put their money where their mouth is? would you be prepared to move your business if you are not happy with the president, to make yourself at home in the united states of america? i'm off to digital radio. we are on the airways. nejra: it is indeed during my radio hour that i am poring through these analyst calls for the ugly market open, and here are the three stocks i selected today, all of them german. starting with list on the -- luf

how is that going to go down in europe? inflation went up sharply last month, pushed by rising food prices and air fares. the libyan man who claims britain was involved in abducting and transporting him to tripoli is given the go ahead to take legal action.

it's holding europe to ransom oi'i isolation. it's holding europe to ransom on that account. the germans and the rest of europe, like us, are less motivated by economics when it comes to the crunch than by principle and their principles about europe will be stronger, just as oui’s were. europe will be stronger, just as ours were. we have done ourselves terrible economic harm for the sake ofa terrible economic harm for the sake of a fantasy belief in our great independented pence. have we done ourselves harm? we don't know. it's likely. it hasn't happened yet. we haven't done anything yet. we are not out. markets are all predictive. the markets seem to have decided this is a do—able thing. the markets seem to have decided this is a do-able thing. from somebody who came to this country about 16 years ago, i can say that i can feel that actually internationally, globally, britain asa internationally, globally, britain as a country where english is spoken, part of europe will still be extremely interesting for people from asia to come and do business with, from south asia, ea

the first inaugural of ronald reagan was greeted in britain and europe with perhaps not the same amount of dismay, but there were quite a lot of headlines saying, "he is just an actor," which was completely not true because he'd had eight years as governor of california. and what was worse, this perception continued throughout his entire years. in europe, you could never get a sensible set of opinion to understand america is different from our way of doing politics and reagan, after all, comes straight from the bone marrow of american identity and he was to be a great president. nobody recognised that, really, until today. there is not a single street in germany that says reagan street or reagan plaza, although he was the guy in ‘87 who said, "gorbachev, tear down this wall". but you have lots of kennedy statues and so forth. but i must say, to come back to polly‘s characterisation, i totally agree with the nature of his speech. but that in itself leads me to a positive conclusion, that he will unite, not americans so much, because he didn't do much to do that in his speech, but he

he has strong views on where europe goes in 2017. jim mellon joins us after the break. r ninibrwetralosthnt ♪es . >>> welcome back to "worldwide exchange." looking back on one of the biggest market events was the uk decision to leave the european union and lots on the political agenda for europe in 2017. our next guest pbacked brexit, jim mellon joins us. thanks for joining us. happy new year. we had brexit last year. that means the worst is behind us for europe and from here on it's a rosy outlook. is that right? >> quite the contrary. congratulations to both of you on your first-year anniversary. >> thank you very much. >> as we know, i think the euro is toast in the next one to five years. but i might be a buyer of the euro because i think the dollar is too high, and the british pound is too low against the dollar. the situation in europe is pretty d pretty diabolical. france and germany could be in some ways be in line with the brexit vote. we already had the italian referendum which went against the elite establishments. and i

but we are not leaving europe. and that is why we think a new and equal partnership between an independent of governing global britain and our friends and allies in the eu. not partial membership of the european union. in membership of the european union for anything that leaves us half in and half out. we do not seek to adopt a model for to be enjoyed by other countries. we do not seek to hold onto membership as we leave. number the united kingdom is leaving the european union. and my job is to get the right deal for britain as we do. so today, i want to outline our objective and negotiations ahead.12 objectives. that amount to one big goal. a new positive and constructive partnership between britain and the european union. and as we negotiate that partnership, we will be driven by simple principles. we will provide as much certainty and clarity as we can at every stage. and we will take this opportunity to make britain stronger to make britain fair and to build a more global britain. the first objective is crucia

the weakening of europe. the brexit. all of these factors are greatly endangering the future of democracy and i think this is going to be the struggle of our times. let me talk about the explosion of the potentancy of cyber. there is cyber for the purpose of theft, intellectually properties. this is a problem for many countries. you have cyber for the purpose for the gathering of foreign intelligence. you have what we saw very recently in our own election cyber for the purposes of affecting political outcomes, of met medelling in the affairs of other countries. cyber tragically, i think, for the united states is a wonderfully a weapon. it is phenomenally difficult and expensive to be on defense. one of the illustrations i love to give is target. when target was lacked the hackers got into target through the air conditioning system because in an internet of things you are only as secure as your least vulnerable part of an air conditions. so the example of a heist where they came through the air duct and the thieves were a

these sectors employ millions of people across europe. for all these reasons, and because of our shared values and in the spirit of good will that exists on both sides, i'm confident that we will follow a better path, i'm confident that a positive agreement can be reached. it's right for the government should prepare for every eventuality but an approach of negotiations to come is in the best interest of europe and the best interest of britain. we do not approach these negotiations expecting failure but anticipating success because we are a great global nation with so much to offer europe and so much to offer the world. one of the world's largest and strongest economies with the finest intelligence forces, friendship, partnerships and alliances in every continent. and another thing that's important, the essential ingredient of our success, the strength and support of 65 million people willing to make it happen because after all division and discourse the country is coming together. those divisions have taken time to heal, but one of the r

europe is expanding at the fastest pace since 2011. europe is at the highest in three years. concerned,hina is they still have a certain number of risks to deal with. one is the federal reserve and one is the triumphant donald trump. reserves, we will get that data on january 3. let us look at the risk radar. the china data is playing out across the spectrum. emerging markets. a nice rally there. longest winning streak in almost four months. .% on the msci em engaged again in terms of rate rises. gold is up by 0.9%. the world is not void of concerns. now, when it comes to oil, we are up 0.6%. in the headlines, kuwait has begun to deliver their cuts. who will come next and at what size and what shape? sinceggest yearly gain 2009. kuwait reduced production by 130 billion barrels. drillers are back. a couple of different things. china data. time, yout the same are seeing stop orders triggered. that is where the aussie comes into play. , roseprices, in australia the most in seven years. those are the challenges for the rba. house prices climbed 9.8%. those are your markets. back

there was indeed now a panic in the business community in europe. the american business and finance showed also growing nervousness during this period. of july,s the 30th this manner to his wife that he was "still hopeful the result would not be a general consecration, even if the situation was, i quote him again, very critical." a day later, the powerful jp morgan expressed his alarm at the news from europe, but was still hoping, i quote him, "that there would not be the general war." he did not wish to underestimate the gravity of the present situation but believed that , there were opportunities for sobering second thoughts of the people of europe to prevail over their first impulses, and he expected, i quote, "the writing -- rising tide of people who are to pay for the war with their blood and with their property." so he was clearly also thinking of his own clientele, the upper test middle classes -- middle classes and not just the ordinary workers who were sitting in the trenches. a few days later, when the war began, van der lippe observed tha

europe actually up -- europe swinging positive for luxury goods for the first time in a couple years. they're saying a key driver is the uk. so you have a lot of tourists coming into the uk, taking advantage of the weaker pound, and that probably helped a lot of the sort of main high street locations where there are a lot of tourists. of course outside of the major cities, probably things not quite as robust as they appeared in some of the big tourist areas. >> john, you like richemont and the broader luxury sector. looking at the pop in shares for richemont today, significant moves to the upside. do you think now it's about fair value or is there more room to run here? >> i think there is. if you look at the luxury goods sector overall, we probably bottomed mid year when people were starting to anticipateable. that hangover from that regifting campaign is coming to an end. now we're actually starting to see the data points go positive. ca caring talking about how momentum was with the company, with gucci. they report in february. now we have the data points coming through. i would sa

europe due to the ice. in wengen in switzerland, a famous downhill race in the skiing world cup had to be cancelled because of too much snow. more than a0 centimetres fell overnight. powerful winds added to the complications, with organisers eventually having to admit the race could not be held safely. and the warning is that more bad weather is on the way. simon jones, bbc news. ivan miskovic — is the spokesman for the serbian government's department for refugees. here's what he had to say about the situation. at this moment there are over 7000 migrants in serbian territory. from this number something like 6000 are accommodated in official centres managed by our commission. more than a thousand in informal sites in the city centre. what are conditions like? in the official sites, the people living here are grappling with harsh conditions, freezing to riches the last ten days. this is com pletely riches the last ten days. this is completely inadequate place for anybody. we had a campaign to persuade them

has returned and europe has not viewed that has been the missing ingredient -- europe has not. that has been the missing ingredient. we need to get over the -- and the french election is the big concern for international investors. all opinion polls tell you marine le pen should not win. people say, look at brexit and trump last year, so we cannot believe that. james, the zeitgeist over the weekend is on china, the challenges of a weaker renminbi. with that is the export of deflation. do you just assume a shift off of trump enthusiasm and disinflationk to and even a deflationary impulse? james: we are assuming this year you will get some pickup in inflation. i think the u.s. is running pretty much close to full employment, regardless of where you want to put it. .e have higher oil prices there are signs inflation -- wage inflation is picking up. or is a risk you get a disinflationary impulse out of key behind the direction for inflation is where is global growth going. you have a weaker renminbi and stronger pmi's overnight in china. our economists have been looking at the lead

these are red button issues for europe in terms of values and principles. they cannot left then drift away. i suspect if marine le pen doesn't win, if francois phil on might have a chance, that will be the key moment in which we could see a real change in europe, especially on defence and security issues. france is very keen. that will also have a strong influence on brexit negotiations. we have one minute left. i wanted to ask you if we'd missed what could be the scariest story of the year, which is china, north korea, south korea, relations there and donald trump's attitude to china. we don't know what he will do, but it is interesting. and his attitude to nuclear proliferation, where has attitude has been its no problem. will it change in the oval office? we don't know, he hasn't clarified his view. he was very robust about north korea. judging from his tweets rather than major policy statement. whatever obama told him rattled him on that first day when obama first met with him after the election. trump expresses after the election. trump expresses a wil

and russia wants to divide europe from within and divide europe from the united states. now, how is it doing that? first, it's trying to interfere in the political process in europe and the political process here. it does that by getting involved directly in elections and as we've seen here in the united states, but now germany, now that it has an election coming up this year, later in the fall, is now seeing a tremendous spike in the cyber activities of the russians inside the german political system. it had a major incident in may of 2015. a massive hacking and ever since then for years now it's seen increased activity. german is not alone in that regard. you can travel anywhere in western and eastern europe and encounterer similar situations in that neighborhood. the other thing the russians are doing is it's using the media to try to create alternative news, alternative narratives, fictitious narrative to sow doubt and discredit the intuitions that we have spent so many decades trying to build up and reform and adapt to the new security challenges. russia is buying u

the americans are coming, back in europe in force. we joined an armoured convoy as it crossed from germany into poland, nearing the end of theirjourney that started in colorado. eagerly awaited in a nation that's been waiting for us support. what signal do you think it will send to moscow? that we are ready to do everything. it's a normal militaryjob to defend a country, to defend family, to defend the world. they came by road and by rail, an entire armoured brigade of 3,500 troops and hundreds of vehicles. three years ago, in less tense times, the last american tanks left europe. now they've brought more than 80 of them back. but, while they've been welcomed with open arms, the decision to send them was taken by president obama and, as he prepares to hand over power, the question — will the next president soon be telling them to return home? you don't expect to get an order to turn round from the new president? no, sir, we're focused here on this mission right now and we're very proud to be here. the soldiers are very proud to be h

, but beyond europe, too. so at the heart of the plan is a determination to pursue a bold and ambitious free trade agreement between the uk and european union. but more than that, we seek freedom to strike new trade deals with old friends and new allies right around the world as well. i'm pleased we started discussions on future trade ties with countries like australia, new zealand and india. countries including china and brazil and the gulf states have expressed their -- >> we'll just pick up -- actually we just have theresa may back again. >> that help to build a better world. for the challenges we face like terrorism, climate change and modern slavery don't stop at national borders, nor do they stop at the boarders of continents. the challenges and opportunities before us require us to look outwards in a spirit of cooperation and partnership. that is why as i said in my speech on tuesday, i wanted the uk to emerge from this period of change as a truly global britain. the best friend and neighbor to our euro

we need a more united europe and not disintegrated europe. how should nationalism solve the problems we are facing today in europe? climate change? should it be sold by nationalism. or the migration flow? this is a very basic issue. when people in germany say, do they mean europeans or germans? certainly in the uk, probably only in belgium, where you come from. i think it's already thousands of mils from britain, british citizens telling me, i want to be an eu citizen, i don't want to break up the link with europe. because europe that belongs to my civilisation, my culture, my literature, my architecture. it's true that people are feeling german or italian or british but also european, an identity is not one identity. no. an identity are different layers and every person has his own identity. don't give it to the politicians to discuss and define what identity is. you propose defence unity, banking unity, fiscal unity, political union. basically it's the full works. that is what euro—sceptics said people were plotting and wanted inside the

but also across europe. joe: that was james gorman, and the morgan stanley ceo, with bloomberg's erik schatzker in davos. scarlet: it is time for the bloomberg business flash. american express says fourth-quarter profits fell more than 8%, as expenses topped analysts' estimates. eps came in a $.88, $.11 short of projections. amex is spending more to recover from the loss of its largest costco. partner, and we have some breaking news. this is president-elect donald trump making an appearance at the lincoln memorial, where there's already a concert underway. he is with soon-to-be first lady melania, his wife. music earlier at the lincoln memorial, a concert. all part of the inauguration festivities. it will become official around noon tomorrow. scarlet: president-elect donald trump arriving at lincoln center, where they had already been holding a concert. beautiful day. joe: look at that sky. pretty impressive. scarlet: this is bloomberg. ♪ scarlet: tomorrow we will bring you more interviews from the world e

these sectors employ millions of people around europe. i don't believe the eu leaders will tell german exporters, chinese fishermen and the euro zone and millions of others they want to punish britain and make a political point for all these reasons and because of our shared values and surge of goodwill that exists on both sides i am confident we will follow a better path. confident that a positive agreement can be reached. it is right for the government to prepare for every eventuality but to do so in the knowledge a constructive and optimistic approach to negotiations to come is in the best interests of europe and britain. we do not approach these negotiations predicting failure but anticipating success because we are a great global nation with so much to offer europe and so much to offer the world. one of the world's largest and strongest economies, the finest intelligence services, greatest armed forces, hard and soft power, friendship and partnership and alliances in every continent. another thing that is important, the essential ing

in europe. it's always great to speak to you. thank you so much for joining us. when you look at brexit, and we spoken to a lot of bankers, what does brexit mean for you? have you seen an appetite for temporary staff? what does it mean for your company? level, is-- at this quite limited. is always somehow good for activity. inre we see the impact is the london area, and focused on the financial services for highly skilled people. will find out more when we speak to the prime minister later on, but does it mean you need to go out in the u k and actively look for people with british citizenship? will it change her model in the u.k.? difficult to figure out the details of all the measures that will be taken. some small activities will probably move back to europe. we saw the announcement of hsbc, but it is quite limited. do you think you would have gotten a better price if you had bought it a couple of months after the referendum? >> were very pleased with the acquisition. we have the recruitments

one is that they blame the elite to have created europe and they don't want europe, they want their own national sovereignty, like the british wanted. and the second is that they blame the elite for having to, for allowing foreigners to come into the country. scott: and while he calls wilders and other strengthening leaders like him harmful. meindert fennema: if you don't like civil rights, then he is not dangerous. if you like civil rights, he is dangerous. scott: even pope francis this week warned against growing populism, comparing such movements to what was seen in germany in 1933 and the election scott: just as that movement grows though, so does the criticism. it gets very loud. people are going to continue to say that what you stand for is hateful or discriminatory. geert wilders: yes. well, i never care about criticism. there always will be criticism and just continue to fight for a growing amount of people that share our views. and the vote of the people at the end of the day is the only truth that matters. scott: wilders and other politicians will be put to the test very soon.

trading day in europe. i'm mark barton. and in new york, i'm vonnie quinn is the european close on bloomberg. mark: we are going to take you from new york to london to stockholm in the next hour. stories out of washington and japan as well. here are the top stories we're parliamentoday -- begins debating on the brexit ifl with david davis asking nations trust the people. prime minister may is eyeing march 9 as the day to trigger article 50. vonnie: in the united states, another political storm brewing as president donald trump meets with the ceos of lawmaker -- of talk onrs as lawmakers capitol hill. and the first 10 days in office -- blackstone's global head of private equity joins us. mark: have a look at where european equities are trading 30 minutes into the session. stocks are falling in europe, the biggest three-day drop since november 4. donald trump's firing of the acting attorney general adding about uncertainty decisions in the new administration. that's the biggest drop since november 2. and currencies are rising

you can trade throughout europe from there. about were talking mergers and acquisitions and the .pproach to look at have you been approached? >> not yet. no. independence and we are probably looking to see if we can do some mergers and acquisitions. >> why? >> for you asian's, at the moment. there is a tough time for six or means thereand this needs to be some mergers in this business. >> would you buy or lease something in europe? thathave always said america is the holy grail for asset managers. ands a place you need to be asset managers are looking to tie up. >> there are questions about the inauguration. one i will get to and we will see what the inauguration is really like and it is pretty exciting. >> do think there will be a rally on the back of taxctations with this repatriation? >> they are talking about doing the right things and the banks moves tod run with the do what he has been trying to for the last six years. i think that emerging markets are not going to benefit from see and i think we could imports fromnd emer

cold is the name of the game across continental europe yet again. another surge down towards iberia. tebbit is well below where they should be at this time of year. low— pressure they should be at this time of year. low—pressure system churning its way across the central mediterranean with bands of wet and windy weather. we've had a lot of snow over the alps in recent days, good news for skiers and fine and clear but cold conditions will continue to prevail across central and some northern parts of europe. across the uk we've got a rather completed picture because although high pressure is keeping things mostly dry, this frontal band is generating some cloud through central areas. what happens over the next week or so, nick miller will update you in half an hour. this is outside source. here are some of the main stories. the british prime minister, theresa may, has ruled out membership of the eu single market, when britain leaves the european union. she said staying in would mean accepting the eu's rules without having any say in making them. ch

fundamentals in europe are positive. however i am nervous about the overall political backdrop, and the italian banking situation, which is obviously a loud that looms. >> you're not the only one nervous about the italian banki political back drop. do you think if we get a reform candidate, we could see some upside? >> certainly. the nervousness is around this populous movement, brexit, trump. that, i guess s wheshgguess, is nervous now stems from and we're concerned about growth and in terms of the banking crisis in italy, the knock-on effect that could have, italy is the third largest issuer of debt in the world. the retail exposure to italian banks is the real concern here. driver of italian gdp has been domestic consumption. the italian retail investor holds about a third of overall italian banking debt. it holds a half of the subordinated debt out there in italian banks. under the new rules, they'll have to take the first hit before we can see state aid come in an support banking. therefore there's got to be a conce