{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='WRAP London, Frankfurt, Paris open lower ADDS Brown on economy' data-url='/boclips/videos/5c54bf8cd8eafeecae144039' data-video-url='/boclips/videos/5c54bf8cd8eafeecae144039' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nWRAP London, Frankfurt, Paris open lower ADDS Brown on economy\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eAP Television London, UK1. Various of workers arriving for work in the financial districtLondon Stock Exchange2. Close up of monitors showing opening of London Stock exchangeAP Television London, UK3. Wide of street, Bank of England on...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eAP Television \u003cbr/\u003eLondon, UK\u003cbr/\u003e1. Various of workers arriving for work in the financial district\u003cbr/\u003eLondon Stock Exchange\u003cbr/\u003e2. Close up of monitors showing opening of London Stock exchange\u003cbr/\u003eAP Television \u003cbr/\u003eLondon, UK\u003cbr/\u003e3. Wide of street, Bank of England on the left of shot\u003cbr/\u003e4. Various of Bank of England building\u003cbr/\u003e5. Close up of Threadneedle Street sign \u003cbr/\u003e6. Mid of city workers walking\u003cbr/\u003e7. Guy Myles, Managing Director, Octopus Investments walking along street\u003cbr/\u003e8. SOUNDBITE: (English) Guy Myles, Managing Director, Octopus Investments:\u003cbr/\u003e\"They're both down heavily again this morning. 'Footsie' (Financial Times Stock Exchange Index, or FTSE) is opening down 5 percent, and the sterling is down at 1.54 to the US dollar.\"\u003cbr/\u003e9. Wide of street, Bank of England on left of shot\u003cbr/\u003eUK Pool\u003cbr/\u003eLondon, UK\u003cbr/\u003e10. UK Prime Minister Gordon Brown walks into Imperial College London\u003cbr/\u003e11. SOUNDBITE: Gordon Brown, UK Prime Minister\u003cbr/\u003e\"What we've had to do in the last few weeks is this, first of all in addition to the liquidity we've provided to the financial system, so that the banks can keep going, we decided in Britain and I think other countries have agreed with this decision, that we had to re-capitalise and strengthen our banks. That the write offs that needed to take place had to be in the context of banks that were more strongly capitalised and then of course the issue is not simply to re-capitalise the banks, it is to get the banks to what the banks should be doing and what is the job of the banks and that is to make possible the flow of funds to small businesses, to homeowners and of course to ordinary families.\"\u003cbr/\u003eAP Television \u003cbr/\u003eFrankfurt, Germany\u003cbr/\u003e12. Wide of trading floor\u003cbr/\u003e13. Close up of monitor\u003cbr/\u003e14. Wide of traders at desks\u003cbr/\u003e15. Mid of monitors showing DAX \u003cbr/\u003e16. Various of traders working at desks\u003cbr/\u003e17. SOUNDBITE: (German) Oliver Roth, Director Equities Trading, Close Brothers Seydler AG:\u003cbr/\u003e\"We see last Friday part 2 we have the same specifications carry trades are being drained in Japan which means pressure on the asian market which comes over to Europe so we see only losers except for VW.\"\u003cbr/\u003e18. Cutaway of man on phone\u003cbr/\u003e19. SOUNDBITE: (German) Oliver Roth, Director Equities Trading, Close Brothers Seydler AG:\u003cbr/\u003e\"Only the chemical branch has shown strength towards this crisis all others will successively come into this crisis and that's why I only expect negative and no positive surprises.\"\u003cbr/\u003e20. Wide of DAX board\u003cbr/\u003eAP Television \u003cbr/\u003eParis, France\u003cbr/\u003e21. Pan inside trading room of KBL Richelieu Gestion \u003cbr/\u003e22. Trader on the phone looking at computer \u003cbr/\u003e23. Various graphs showing the evolution of the CAC 40 since the opening of trading\u003cbr/\u003e24. Nathalie Pelras, Head of Equity Management at KBL Richelieu Gestion talking to colleague \u003cbr/\u003e25. SOUNDBITE: (French) Nathalie Pelras, Head of Equity Management, KBL Richelieu Gestion:\u003cbr/\u003e\"In France we see today that it is all the sectors that are affected, because not only the financial stocks are down 10 percent, but also the industrial stocks. So basically, everything is falling apart. Nothing really holds up. A newspaper headline was reading this morning: 'the crash until where?' That is really the question, that means we cannot think in terms of valuation anymore. The valuation has been down for the last three months and we know that the stocks prices will fall in the mid-term run, but the problem is that we don't know how much it will fall. So the markets are still very volatile and it won't stop in a week.\"\u003cbr/\u003e26. Pan from economical newspaper to trader at desk \u003cbr/\u003eThe euro is losing more ground against the US dollar, stricken by fears that efforts to avert a global recession are foundering.\u003cbr/\u003eThe 15-nation currency was down to 1.2377 US dollars in morning trading in Europe, hovering around lows last seen in April 2006 and well below the 1.2612 US dollar it bought in late New York trading on Friday.\u003cbr/\u003eBritain's pound is being battered, too, falling to 1.5366 US dollars. That's more than five US cents below the 1.5872 US dollars it bought on Friday.\u003cbr/\u003eAs recently as July, the pound was trading above two US dollars - before turmoil in the financial sector and lower British interest rate expectations fuelled a sharp decline. \u003cbr/\u003eAround the same time, the euro was trading above 1.60 US dollars.\u003cbr/\u003eAmid the market turmoil, the dollar has regained its coveted status as a safe-haven asset.\u003cbr/\u003eAnalysts said concerns that government efforts in the United States, Europe and Asia many not be enough to shake off the likelihood of a recession were pushing the euro lower and boosting the dollar.\u003cbr/\u003eFed policymakers are widely expected to lower the central bank's key interest rate at the conclusion of a two-day meeting Wednesday - their last session before next week's presidential election.\u003cbr/\u003eWhile the Bank of England and the ECB have plenty of room to reduce borrowing costs from the current 4.5 percent and 3.75 percent, respectively, the Fed has much less room because its base rate stands at 1.50 percent.\u003cbr/\u003eLower interest rates can undermine a currency, making it less appealing to investors as they look elsewhere for better returns.\u003cbr/\u003eMeanwhile, British Prime Minister Gordon Brown said on Monday that higher Government borrowing was the way to help the UK beat the recession.\u003cbr/\u003eHe told economists during a speech at Imperial College in London that re-capitalising the banks was the way \"to make possible the flow of funds to small businesses, to homeowners and of course to ordinary families\".\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead 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