Game so special. For all true fans for my. Take on more than football online. Learn german with d w any time any place. Whether with jo jo and her friends and its just up to the ones or with friends all over the world online and interactive. German to go and. Learn german for free with d w. European finance ministers picked portugals mario sent a new as the new president of the euro group the euro crisis may be over but there is no shortage of challenges for the new man at the top. Also coming up venezuelas economy is in tatters will president Nicolas Maduro new cryptocurrency bring a solution. And hows this for the worst christmas job going around having to test top off the top of mulled wine to ensure its up to standard. All that and more business the eurozone finance ministers have chosen port shows portugals mario sent to new next top finance official the president of the socalled euro group so a very influential job in the blocks economic setup in the running were for contenders but sent ten use credentials in consolidating portugals state finances after the euro crisis and maybe crucially the support from germanys chancellor Angela Merkel landed in the top job. When scenes like these erupt in a euro zone country the president of the year agree has something to worry about greeces painful economic crisis but the financial body her to act deciding how much debt relief to give when to give it and the reforms demanded in return thats been the job of this man for the past five years. The outgoing president of the euro group the top a huge job and him the nickname mr euro euro Group Finance ministers have been meeting behind closed doors since one thousand nine hundred ninety eight the euro group itself is considered one of the most powerful financial bodies in the world their meetings are attended by the president of the European Central bank and the European Commission for economic and Monetary Affairs nineteen countries use the single currency meaning one thousand finance ministers are in the group and today they voted on who will take the helm of the single currency bloc on january giving the job to portugals ninety s. And taina he inherits a more stable euro zone than the one mr dyson blome had to chair. Well thats a big job but what does it may lets cross over to brussels correspond marx hoffman who is standing by of course in brussels max what gives some ten of the edge over the other candidates. It doesnt hurt when you have the right countries backing up a bit in this case it seems that the big countries france and germany backed them up although officially at least the germans have not acknowledged it but think about it i mean is a socialist and i get america could use a bargaining chip at home in germany for example because hes trying to form a coalition with the social democrats in the social democrats in germany likes it so that might help her and thats why there wasnt a conservative candidate in the race here it also helps if you have the right credentials and he has the right credentials you just said it he was a finance minister of portugal and he sort of managed the miracle the one that everybody in europe is looking for first of all consolidate the budget at least more or less and at the same time dont be too austere dont be the votes going sharply but credibly also spend the money so thats something that all the social democrats all the socialists in europe like a lot and thats your recipe for success the right backing the right policy the right guy well you across is that you mentioned is now over what do you think is on top of his agenda right now well first of all especially the social democrats in the socialists in the European Union would like him to apply what do you applied in portugal as finance minister there the whole of europe i just i just mentioned that thats important that could start for example with greece we just saw the pictures that we have no longer but the Bailout Program for greece is running out next year and then they will have to find a solution how to go on and might even see a deficit cut something that the International Monetary fund want one so this discussion will come back he might be the right person ashley find a compromise there and then on top of that were talking about the reform of the whole euro zone so thats very and vicious something that the french president among whom i call wants to have happening next year you can possibly within our own european Monetary Fund so it looks like he wont be bored in his first two and a half years thank you very much myself for us in brussels that. Now if you have a rather gun whole approach to investments and missed out on the bitcoin bonanza last week maybe the petro is for you thats venezuelas very own crypto currency the background the real venezuelan currency the boulevard has plummeted by more than ninety five percent against the dollar on the black market market just in the last year leaving the economy in tatters and many citizens hungry so this is a desperate attempt by a president maduro to prevent the countrys total economic breakdown. In the fight against his countrys economic crisis president maduro is running out of options the state is on the verge of bankruptcy. Unlike bitcoin the petro will be backed by a physical asset oneill venezuelas reserves are the largest in the world but the need to squeeze more money out of them has led to the surprising idea. But says the cryptocurrency will help the nation. But i want to run on this monetary sovereignty to make financial transactions. To overcome the financial block aint been fairly ok or free and fair go. The socalled financial blockade is comprised of u. S. Sanctions and e. U. Restrictions against venezuela they were imposed after majorities increasingly brutal treatment towards his own people the value of the Paper Currency the bolivar has plummeted venezuelans are suffering under hyperinflation of one thousand four hundred percent the economy of the once prosperous country has taken a nosedive imported food and medicine is running out majoris cryptocurrency is now a sign the country is to some extent moving away from banks and regulation in a desperate attempt to stay afloat. A countrys finances are in taxes just invent a Virtual Currency that presto problems all doesnt work lets talk long is a professor of latin American Relations at Warwick University in the u. K. Is it that easy will it fix any of the real problems thank you very much for having me the short answer to that is no it will not fix any of the real problems i think is your reporter said this is a question of desperation and as of as you said anyone who is investing heavily in this would be taking on an incredible amount of risk this would be even a swell was third currency in about a decade the value of its previous currencies has been dramatically undermined as the government has has expanded the supply the money supply leading to hyperinflation and ultimately this is a question of deep underlying structural economic problems and very poor Economic Policy so what will it then what will be the effect what can this new currency achieve and what will it do to the real economy. Well i think its affects are probably going to be pretty limited right now we dont have a lot of details about exactly how the venezuelan government imagined this currency other than the idea that it would be backed with venezuelas Natural Resources that sounds like its something novel and certainly compared to bit korea and its novel but in a sense venezuelas currency is always backed by its Natural Resources and a lot of its debt is explicitly backed by resources so to a large extent those resources are already committed elsewhere i suspect theres a hope that this would help venezuela get around some of the u. S. Sanctions of course dealing in u. S. Dollars means that venezuela is subject to restrictions that are imposed on global banks particularly u. S. Banks and that does limit venezuelas freedom of maneuver but this would require those banks and other investors to really take a leap of faith that venice was going to stand behind this crypto currency in a way that it has not stood behind the solidity of its of its normal currency. For at that time all that was from our university thank you very much. Does have to pay the irish governments thirteen billion euros in unpaid taxes European Commission had ruled last year that the i phone make a must remember the irish state for the money ireland initially didnt want to break its agreement with ample by taking the taxes but the use that tax benefits received by the tech company were illegal on the e. U. Rules. Now is the season to be jolly in many parts of the world and here in germany there is no better way to get into the festive spirit than to visit one of the Christmas Markets across the country and treat yourself to a mold wine or two and you know the germans we are sticklers for quality so of course the quality of the glue and as we affectionately call it has to be closely monitored tough job you know what is going to do it here in the center of cologne locals and visitors are getting into the festive spirit for many that means indulging in a seasonal drink or two food Quality Tester all of our maya has come here to check theyre up to scratch. My mouth is assume for the boiling point of alcohol is Seventy Eight degrees is so mulled wine shouldnt be hotter than last. On the. Whole but evaporation and that will reduce the quality. When it comes to drinks theres no competing with mulled wine in the four weeks before christmas a store like this one can expect to bring in a rant one hundred sixty thousand euros. With some to size in markets across the country its no wonder germans consume a total of fifty million liters of mulled wine a year. So what makes for the perfect you tide experience like it was like the Colder Weather and maybe a bit more mild wind and another few bites its the Christmas Market its only a matter of time before you get into the spirit. Getting into the Christmas Spirit is big business and at this market at least visitors can be sure their mulled wine has enough of the other kind of spirit to. Thats it for me and the business to get us is already getting into the spirit to give you an update for you in the next oh in the meantime check on twitter and facebook feeds for more news we go here as. Well. That respects the balance of nature. And. Well i tell you. What methods exist that restore order to the cycle of nature. And can they be as productive as conventional farming. Pioneering methods and modern. Its all happening doge of it africa and. Your link to news from africa and the world. Your link to exceptional stories and discussions here no one will come to deduce after Getting Program tonight from born in germany from the news of these each i why would say d w dot com start africa join us on facebook that d w africa. Enter the conflict zone confronting the powerful lobby challenging those in power asking tough questions demanding answers. As conflicts intensify ill be meeting with key players on the ground in the centers of power cutting through the rhetoric holding the fossil fuel back the conflict zone. Conflict zone confronting the powerful on g. W. This is the governing its come to learn from but and but the right to our board spontaneous and central istanbul im joined by the shellac up thirty eight of us Political Correspondent on those stories in just a minute but first this news just in its all about the perspective closer d. W. News fiesta. Bowl. Welcome to tomorrow today coming up on the show