Also in this playlist...
This transcript is automatically generated
Obama says every country's banking system one -- all like Tennessee every country's banking system is close to collapse is the fault of those who run the banks.
The bank -- expecting giving bonuses for no good reason and that too big to fail attitude libel the list goes on everyone knows he'll tank the economy again it's just when.
Any truth to that yes -- other -- yeah.
-- -- Think you cash under the mattress and hope for the best thing doing.
I -- -- got to pass -- opportunity to plug my book the alternative answer here which is addressed it exactly you are you how you invest four.
That kind of scenario it would actually is true.
But let's come back to this for 12 because there I think -- -- an interesting make a point here that we we haven't said out loud and that's this those people who were who were protesting in the streets.
They're angry what are they angry about they're angry about something very interesting that the Cypriot government doesn't have control Cyprus and more than.
Who does Germany -- big -- -- exactly.
Play and his German designer on the entire European continent is finally coming to fruition and they blew it twice but now they -- out of the basic plan for how to do it farther it's right you're finally ended -- -- -- -- but it very seriously this is a huge problem and let me tell you want because Merkel ten.
-- billion dollars is.
Nothing happened but more -- would not -- it on bailing these people out without closing the banks taking depositor haircuts.
Crashing -- -- local.
Economy -- me and so.
What's that what what does that mean what means the same reaction is in Spain it's in it's in Italy it's in -- your own and then there is this simmering huge resentment.
About the fact that these countries -- that effectively given up there's poverty -- no joke to do.
To -- into Germany and so that's just finding more and more anti Euro.
Reaction and this thing it's really not over this thing could easily explode again I'm not into -- -- -- -- -- -- question I mean should the United States we've been concerned not just about the do the vibrancy of the -- but the fact that one nation Germany in particular has been dominating this conversation.
Is do you do should we be worried about that well.
We should be worried about the fact that the Germans the German.
Economy is so.
Big truck and they all are the engine coming so they have a right to do -- in one sense which -- -- the engine brunt of this thing.
They don't every workers retiring at 52 like it's happening through the periphery of the Euro -- They're working hard they're making their money date -- taxpayers rightly probably.
Don't wanna pay for the profligate any of those other of these out of my country terror but it is a big problem a political problem you're absolutely right.
Filter by section