Oct. 2 - The U.S. and Italy are on the brink. Washington stays shut for the second day, while in Italy PM Letta faces a confidence vote.
-- Two government entitled the US shut -- and today to. And I sign yet of why or how it will lend. And if -- bring to. The prime minister and -- -- that's at the -- -- -- -- -- to back him and paid his fine job government. That's history to Patrick Meriden senior investment strategist at ING investment management thank you for joining us. Witnesses say two shot -- the United States -- think ambassador to still be a little couldn't too complacent about it. Wanted to my thing that investors all complacent for the time being and that's. Because. The government shutdown is not -- very much. Output to the economy we estimate that it -- approximately fifty basis points of the showdown. Lawsuit week goes showed up in the Boston government shutdown did not have a big impact all -- stock markets. -- -- must say -- the showdown is only a minor thing. Relative to I would say that the discussion on the debt ceiling doesn't that'll come up. And into feared -- does SS there's there's there's this discussion. Drexel all that volatility on the markets will continue to increase. You say -- -- is yes. How do you say if there's some discussion -- -- do you think that that created the US could come placed -- any kind of risk of default. Well the CEOs say that's our best case scenario is that well I do we'll get continues resolution and secondly. There will bet that they will manage to to go above where it may go Altman a deal due to lift the debt ceiling. And to listed I would say -- high enough to -- to go be going to do you do next congressional elections. Does the base -- -- of course that the risks are clearly a deal on the downside then that's -- -- that this did these risks are grazing. Looking into city is a big day that today. PM Glasser is expected to win a confidence I was. But do you think there's political tiles that amendment poses a real threat to the economy. Well let me say -- and fidelity is business as usual political institutions that but it -- -- stability so it's a little bit returned to. To dump offs on all the I don't think that that live and let the world will indeed survived that this this vote of confidence and that's. Well it's -- -- low local did you witness. What this economic progress on an in this economic reforms. I'm the ECB is meeting today and -- do you think that president drug is more worried about the US situation or -- -- -- -- -- today. Well I think the biggest risk is indeed the situation United States books. All the enough it's not something the drug again and and influence on the other hand. If something and and and and and and you result or Italy goes wrong drug has I would say this instruments to intervene through for a solvable UND. Thank you for joining us. Britain's third biggest racist things preview site pacing our tribal test game. And speech in full cost the quarterly sales driven by Greg with the local convenience stores and online. Meanwhile test -- reported a 23% drop in profit in the first half of its financial Yale defending the challenging retail environment annual -- People familiar with the matter say three of the top twenty invested in Microsoft oppressing the Bill Gates to step Diana Chapman. That consent -- -- -- the adoption new strategies would limit the power of a new chief executive to make substantial changes. They also point to -- his role in finding and you see yen to replace people left some investors say they'd like to see -- Alan -- in the tightest. Outfits and I -- leave you with -- of the day. They are lucky enough and you don't have the space is still big -- sanctions. And you upon a built in Japan with that in hindsight and a visiting so -- -- could be the perfect place to -- The aptly named one to comment ten story building it indicates -- -- district. I'm John a -- -- this -- voices.