For the last sixty years. For mines. Every journey begins with the first step and every language with the first word emerged from the. Coaches in germany to learn german and why not learn a simple online on your mobile phone and free themselves from the d w z e learning course you can speak german made easy. Hailed by investors by many italian italys president vetoes an anti euro finance minister and puts a former i. M. F. Official in charge of an interim government we talked to a senior economist about the wider implications for the euro. Also on the show the former head of the world. Trade Organization Says these are dangerous times for global trade but that the Playing Field does not need to be even alex. Welcome to do that we have business all eyes are on italy today where president settlement l. A vetoed an anti euro finance minister the street during more political turmoil with fresh elections expected later this summer but investors were heaving a sigh off relief before talks to form a new Coalition Government broke down Ratings Agency moodys threatened to cut italys debt ratings citing risks that the new government will weaken its public finances and retreat from previous reforms italy holds the worlds Third Largest public debt and is vulnerable to a rise in refinancing costs. One more on that story im joined by fed and fish the who is the chief economist at the German Institute for Economic Research good to have you with us and i said that investors heaved a sigh of relief because that market rally we saw earlier today has somewhat slowed down didnt last for long does this have anything to do with the new interim premier the former i. M. F. Official well i guess there is a certain skepticism that could already can actually turn things to the better because the structural situation for policymakers in italy is not so easy these days i guess there is a lot of skepticism and even if he has six months maybe even more to to verg on a roof on reforms for the Italian Economy it is quite clear that in the next Election Results will be again populist parties with a majority which can in turn lead to the same problems which we seem to have overcome in the last few days so i guess this is just a very short period where were broke its can take some breath right i mean were used to political upheaval in italy its never really running smoothly for long there but this is a different story this time and i remember what greece was in big big trouble and we were faced with a loony breaks it a lot of economists were extremely alarmed about the wide implication. What about italy in a similar position. It away you just mentioned it what people alarmed about the situation in greece are the wider implications meaning that the crisis could spill over from greece to italy and other southern European Countries so the worries were not so much about greece some five years ago worries will more about the fact that crises might spill over. Into other markets like the tell you markets and in that sense we are now in that exactly that situation that we feared five years ago it was not exactly a spillover its like a homemade crisis they are having internally now they cannot really attribute this to the situation in greece anymore but we are exactly in that situation which we actually feared five years ago that italy might go down the road and that italy might run into serious troubles and this is exactly what markets are currently simmering so i mean it is debt is huge and if its silly. To be governed by an empty government collision or up after fresh elections perhaps a single party that is anti european is the euro Strong Enough to handle such a situation frankly at this stage i fear not i guess if the actually exits from the Monetary Union this would probably be the end of the euro itself and if markets feared that other countries could follow like greece like portugal this could really result in a tremendous crisis for the world as a whole. In a sense this is the only good news today that the new government the interim government gives us some time to reform the structures of the euro area as a whole and to prepare markets and prepare the institutions of the euro area for such a crisis in italy like changing the Banking System providing actual solid foundations for support of the Banking System across euro area borders in a way so these are changes that are overdue for a long time and are very urgent now because we have this window of a piece of art unity of a few months at least until the end of the federal ghost still of the italian holiday when we might face fresh election and who knows what the outcome is until then headed on to fish net chief economist at the German Institute for Economic Research thank you so much for joining us in the studio thank you. International leaders in science politics and business are currently gathering in berlin for the Global Solutions summit the event is organized by the Global Network a Global Solution initiative which aims to support of the g twenty and contribute to solving big problems at this offense in berlin include representatives from influential think tanks and major stakeholders in pressing issues of Public Policy on a worldwide basis its all of them they have plenty to talk about especially when it comes to global trade. Hes certainly no fan of global free trade since Donald Trump Took Office hes renegotiated several key trade agreements and backed out of others foreign steel and many m and recently cars are all according to trump a National Security threat and hes fighting back with import tariffs trumps isolationist path is part of the strategy he wants to give Domestic Companies an edge in the u. S. Markets American Made cars for example are often less popular than german ones. But the u. S. Is new direction is helping foster new bilateral coalitions germany and china affirmed their joint commitment to global free trade during chancellor Angela Merkels visit to beijing but can such efforts really hold the tide of protectionism coming from the Worlds Largest economy and what about the. In recent years the trade organization has gained a reputation for drawn out negotiations resulting in no clear solution its function is to promote free trade and establish a framework for its critics however say the w t o is a relic of the past and should be abolished. Well its picked up on the former president of the w t o is at the Global Solutions summit in berlin and he joins us now from there good to have you with us are certainly Interesting Times were living in here and certainly for global trade how dangerous is washington stance on trade for the Global Economic system. Well it is dangerous. It is dangerous because its. The only country in this planet and not the smallest one that departs from a long standing commitment in the International System that opening trade is the thing to do however record. The winner loser equation stemming from that may not always be right but its the First Time Since a fifty years ago that a major country. Becomes another case of protectionism and thats very dangerous although so far so far its been more bark than bite and the volume in the grocery world trade has not yet been affected is there anything the w t o o can do in order to support europe for example germany in particular in its fight against high import tariffs tariffs on steel and alan minium costs. Of course of course the World Trade Organization has ruled them. For the sort of. Which from puzzle initiated in the us and notably this. Still another medium where they are coming from europe all formats where i think the European Union must fight this the w t o by taking the us to the dispute them in that a bit you know and by repeating with its own theory if mr trump does not back down yes this is a major issue europe has to act on strong for him to get the words why why recognising the us are always wrong when they say that the rules of world trade today all not what they should be and they notably the song chinese behaviorism which are contrary to a level Playing Field worldwide so you must side with china against the us and not side with the us again china in trying to improve the rules of world trade through a multilateral negotiation and thats the European Mission and yes i mean youve already hinted at quite strongly that a trade rules at changing times are moving fast and fast and there are some who say that they cant wait for example for the delhi to catch up and basically sorts things for them do you think that the w t o keeps up pace can keep up pace. I think that i mean hugh john and by the way i dont see any other solution its obvious that by that well trade deals that are much worse notably for poorer countries and so there is no other solution bought your right its like being behind and what is to be done and thats europes mission to convince both u. S. And china that better stronger multilateral trade rules must be agreed the u. S. Have to pay less for their agriculture and china has to subsidize its industry less than it does this can only come from a negotiation in the deputy oh all right pascal levy former president of the word Straight Organization joining us from the Global Solutions summit in berlin thank you so much. And thats your Business Update here on the w. For me and the team in berlin thanks for keeping us company. To move. Christianity and music. To just one pop musicians think about religion deeply devout hip hop on a mission from the cold. Hearted bubble gum told the gods need be but even contemporary music inspired by the divine topics for the next couple. Of demonstrations in turkey now don longer in those meet me forgive me gezi park protests took place five years ago on new cars on the phenomena of khartoum artists feel about them now. If you simply talk about the value value of the male movies the flames still burning move. Sixty minutes weve all seen. Climate change. Waste. Pollution says. Isnt it time for good news eco africa people and projects that are changing our environment for the better its up to us to make a difference blitzer spoke to each other. When it comes to the firemen magazine. On t. W. As long as. Managers do not go to day nothing ever changed you know the banks. And so was the language of the banking money. Speaking the truth global news that matters g. W. Made for minds. Hello and welcome to a pop export special so they were devoting ourselves to one topic religion in pop music we want to know how do christianity and music go