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Quest Means Business
Deadliest Day of Israeli Strikes in Lebanon Since 2006 War; CNN Speaks to American Detained in Iran for Eight Years; Zelenskyy in US to Attend United Nations General Assembly to Present Victory Plan; Lebanon: At Least 492 Killed, 1645 Wounded In Israel Strikes; Germany's Social Democrats Fend Off Far-Right Challenge; New Polls Show Kamala Harris, Donald Trump In Deadlock. Aired 4-5p ET
Aired September 23, 2024 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:11]
RICHARD QUEST, CNN INTERNATIONAL HOST, "QUEST MEANS BUSINESS": It is the president of South Africa, Cyril Ramaphosa who is ringing the closing bell
on Wall Street. It is a day when the market is marginally higher, what it was and it has been most of the day. Oh, there you go. One, two, three,
strong gavel as one might expect, from the president of South Africa.
The market is closed. I am sure he will be pleased that it was a day where we saw gains. Why is the president in New York? And of course, it is all
part of the UN General Assembly. We will talk about all of that as the show went its merry way forward.
The events of the day: Israel's Prime Minister Benjamin Netanyahu says Israel is at war with Hezbollah after airstrikes killed hundreds of people
in Lebanon.
Ukrainian President Volodymyr Zelenskyy is in the United States where he is expected to present a new plan for defeating Russia.
And exhausted, and you want everyone to know. Their newest emojis have you covered.
Well, I am in New York. It is Monday, September the 23rd, new week, new day. I am Richard Quest in New York, I mean, business.
Good evening.
We begin tonight in Israel where the IDF, the Israeli Defense Forces, says it is preparing for the next phases after it carried out extensive
airstrikes in Lebanon.
Lebanese officials say Monday's strikes killed at least 356 people and left 1,200 injured. It makes it the deadliest day of Israeli strikes in Lebanon
since 2006. Israel says it hit hundreds of Hezbollah targets and that include stores of munitions.
The prime minister of Israel, Benjamin Netanyahu says the country's aim is to change the balance of power on its northern front.
(BEGIN VIDEO CLIP)
BENJAMIN NETANYAHU, ISRAELI PRIME MINISTER (through translator): For those who have not yet understood, we want to clarify Israel's policy. We do not
wait for threat, we anticipate it, anywhere in any arena at any time. We eliminate senior officials, we eliminate terrorists. We eliminate missiles,
and there is more to come.
Whoever tries to hurt us, we will hurt them even more.
(END VIDEO CLIP)
QUEST: Now, it is unclear how many casualties from the strikes are Hezbollah militants. Lebanon's Health Ministry says women and children and
medical staff are amongst the dead.
Ben Wedeman is with me.
As I think I said to you when I spoke to you on Friday, I mean, the talk of escalation is moot. This is it. It is here, it is now. It is happening.
BEN WEDEMAN, CNN SENIOR INTERNATIONAL CORRESPONDENT: For all intent and purposes, a war has begun between Israel and Hezbollah.
Now, if you look at the death toll, it is a very high if you consider that it is about a third of the amount of people, civilians, and Hezbollah
fighters who were killed in the 34-day war in 2006, and among the dead, of course, as the Ministry of Health pointed out, are 66 women and children.
Now, the Israeli bombs began to fall early in the morning for the sun rose.
(BEGIN VIDEOTAPE)
WEDEMAN (voice over): As dawn broke, Israel launched the first of a series of punishing airstrikes, starting in South Lebanon, pummeling what it
claimed were Hezbollah targets, hitting, hitting, and hitting again.
While Hezbollah battered over the past week, it struck back as it did early Sunday, its missiles reaching deep into Israel to Haifa and beyond. Many
others intercepted through text messages and by breaking into local radio broadcasts, Israel warned people to leave and stay away from buildings
where Hezbollah might be operating.
But the bombing was enough to send thousands fleeing north, the roads packed.
(AHMED speaking in foreign language.)
WEDEMAN (voice over): "Strikes, war planes, destruction" says, Ahmed (ph). "No one is left there. Everyone has fled. We took our belongings and left,"
yet even those fleeing vowed they will return.
(UNIDENTIFIED MALE speaking in foreign language.)
WEDEMAN (voice over): "We will be back God-willing," shouts this man. "We will be back. Tell Netanyahu, we will return."
When and how and to what, unknown.
The death toll for one day reached into the hundreds, the wounded well over a thousand, coming after a week of pager and walkie-talkie blasts, and a
deadly strike on Southern Beirut that killed a senior Hezbollah commander, but also many civilians.
All classes in schools and universities across Lebanon have been suspended, with some schools been turned into shelters for the displaced.
[16:05:12 ]
Seventy-year-old, Jena Ayyesh (ph) fled her village at 5:00 AM taking shelter in a training institute in Beirut.
(JENA AYYESH speaking in foreign language.)
WEDEMAN (voice over): "I buried my son a week ago under bombardment," she says. "My other son stayed behind. He didn't want to leave our home."
With Israel's air offensive intensifying, it may be some time before Jena sees her other son again, if at all.
(END VIDEOTAPE)
WEDEMAN (on camera): And the Israeli military spokesmen are saying that they conducted about 1,300 strikes on targets in Lebanon. One of them was
on the southern suburbs of Beirut. Apparently their target was Ali Karaki, who is the commander of Hezbollah forces in the South Lebanon.
However, Hezbollah put out a statement saying that he was not harmed in that strike -- Richard.
QUEST: Ben Wedeman live tonight for us in Beirut. Grateful, sir.
The IDF spokesperson, Daniel Hagari, has been speaking saying, Hezbollah was planning an October 7th- like attack, and that Israel has a right to
defend itself.
(BEGIN VIDEO CLIP)
REAR ADM. DANIEL HAGARI, ISRAEL'S CHIEF MILITARY SPOKESPERSON: We have to act to stop the threat of Hezbollah. Hezbollah was planning to do a larger
scale of massacre than the 7th October in the Northern Israel, and we will have to make sure that in any one of our borders, we are safe and there is
no threat of a 7th of October in any one of our border, never again.
(END VIDEO CLIP)
QUEST: Nic Robertson is with me. Nic is in Jerusalem.
Look, let me put it in sort blunt terms. Israel doesn't care. I mean, Israel doesn't care about what the reaction will be. They are determined to
prosecute both in Gaza and in now in Southern Lebanon.
NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: They have always seen Hezbollah as a threat, a threat that really they see as a proxy force for
Iran, an insurance, if you will, for Iran, that should Israel ever strike Iran and its growing nuclear capability that is Israel's proposition that
has Hezbollah would be used against them.
So after the Hamas' attacks, Hezbollah were a threat and Hezbollah began a day after the Hamas attacks, October 7th last year, with strikes into
Israel.
Israel evacuated more than 60,000 people from that northern border, but there was always the question going to be, of what does Israel do about the
Hezbollah threat? Does it, as the defense minister wanted to, back in October 7th, want to go into Lebanon and take on Hezbollah? At that moment,
no. He was persuaded otherwise by the prime minister.
They fought in Gaza, but now that war is winding down to a degree, the focus again falls on the north and the pressure on the government to get
its civilians back home along the border.
It is a very big question that has been out there, but I think what we've witnessed over the past week since the IDF decided to make or since the
government decided to make returning civilians to the northern border, part of its war aims is a decision that was going to confront that Hezbollah
threat because Hezbollah has been saying they've been firing across the border to support Hamas in Gaza.
And now, the Hezbollah proposition is being tested and I don't think anyone actually at the moment knows where that will stop.
QUEST: Nic is in Jerusalem. I am grateful. Thank you, sir.
The US says, it is sending a small number of additional troops to the region because of the escalation. President Biden has met his Emirati
counterpart, Sheikh Mohammed bin Zayed at the White House and the US president said, they are looking for ways to lower the temperature in the
region.
(BEGIN VIDEO CLIP)
JOE BIDEN, PRESIDENT OF THE UNITED STATES: We are also going to discuss our efforts to end the war in Gaza and a number of regional issues. I have been
briefed on the latest developments in Israel and Lebanon.
My team has been in constant contact with their counterparts and we are working to deescalate in a way that allows people to return to their homes
safely.
(END VIDEO CLIP)
QUEST: Now, President Biden is to speak at the UN General Assembly on Thursday. Officials are worried about this year's at General Assembly will
inflame tensions, especially if more countries recognize Palestine as a state.
Jim Sciutto is with me.
Jim, thank you.
Look, I want to put this into a sort of a US context, if I may. How far do you -- because you're an expert on both the US and the Middle East.
So how far do you think Prime Minister Netanyahu is basically taking account of the fact that the US is so tied up in domestic politics that it
is -- that there are no votes on the US side for actually getting further involved. Look the other way until it is over.
[16:10:16]
JIM SCIUTTO CNN ANCHOR AND CHIEF NATIONAL SECURITY CORRESPONDENT: It seems a factor based on the timing of this, how close we are to the election, but
it is part of a broader trend line because one can name a number of instances in the past year, a little less than a year since October 7th,
when the US, while proclaiming deep support for Israel has cautioned Israel against for instance, the number of civilian casualties in Gaza, for
humanitarian aid access to Gaza, and more recently for not escalating the situation because the US, among many other parties, does not want to see an
expansion of this war.
And in each of those instances, I don't know if you could quite say, Israeli leaders ignored that encouragement or pressure, but the two sides
did appear to be at odds, right? And then also, I neglected one, and that is on negotiations for the ceasefire and hostage deal.
There is a lot of blame to go around, but I can tell you with some certainty that the US -- many US officials do not believe that the Israeli
leader made enough concessions to get that deal across the finish line.
QUEST: Okay, but the sheer way in which the Hezbollah -- I mean, I can see what they are doing. Israel is basically taking out the opposition of
Hezbollah before they can really get themselves moving. But there is no merit for Kamala Harris to push much further in terms of that, President
Biden seems to be basically going over the motions of say, of just speaking the words and Donald Trump, we know where he stands.
So there is no incentive for the US to go further.
SCIUTTO: And perhaps no incentive for Israel to feel restraint, right?
QUEST: Yes.
SCIUTTO: Because at each testing points where a US leader could have imposed restrictions, right? And by the way, you and I both know the
enormous obstacles in the face of that, some of them political, but also listen, these are quite close allies.
That said, the US leader did have the ability to impose hard restrictions, right, withhold weapons, et cetera and did not.
And if you're the Israeli leader and you've made, it seems he has made a judgment that now is the time to strike Hezbollah, one could reasonably
conclude, I can do this without a lot of American brick walls standing in the way.
QUEST: In the region, the words I am hearing are people like King Hussein of Jordan -- just absolutely horrified that the King of Jordan is actually
horrified at what he is seeing.
The other countries are stuck between having had some form of diplomatic relations with Israel, realizing if they move too far away from them, the
trouble that they are going to be in.
SCIUTTO: And listen, also within Israel itself, right? And not just members of the public, but you have Israeli officials and even members of
Netanyahu's own government who have questioned his commitment to, for instance, getting a ceasefire and hostage release deal across the finish
line, even his strategic decisions about the progress of the war.
So that criticism, while certainly stronger from Arab leaders and Arab states, there is criticism from within Israel as well.
QUEST: Sorry, forgive me because when I talk about King Hussein, it is of course, King Abdullah, of course giving the full family name of his late
father.
The way anybody gets out of this, there is no honest broker now, it seems, that can get this -- can unravel this. Or what am I missing there?
SCIUTTO: Listen, I don't think that that is an unfair description of the way many folks in the Middle East see this, right? They don't see -- they
don't see not just an honest broker, but an influential broker who can push all sides to get to an agreement.
Now that could be a temporary lack of one, you know, post-election, you have a new president with a new vision of the Middle East and different
stakes, perhaps it changes then, but listen, this didn't just start in the last six months or 12 months. You've seen a decline of US influence and
perhaps I think, you could even argue interest, right, to some degree in a full-throated participation in that region, if you look at withdrawal from
Afghanistan and reduction of forces in Iraq, et cetera.
So listen, I mean, people see what is before their eyes and they make their own conclusions.
QUEST: Jim, I am grateful. Thank you for staying and talking to us.
SCIUTTO: Thank you.
QUEST: I am grateful.
The new Iranian president is expected to speak at the UN General Assembly. That will happen tomorrow, Tuesday.
[16:15:03]
Before that, an American citizen who spent eight years detained in Iran, has been speaking to Christiane Amanpour.
In his first TV interview since his release, Siamak Namazi describes the physical and psychological torture he suffered Tehran's Evin Prison.
(BEGIN VIDEO CLIP)
SIAMAK NAMAZI, AMERICAN CITIZEN WHO SPENT EIGHT YEARS DETAINED IN IRAN: I assumed that because I am a hostage and I have value, they will not harm
me. Unfortunately, that assumption was proven wrong.
CHRISTIANE AMANPOUR, CNN INTERNATIONAL ANCHOR: What did they ?
NAMAZI: You know, I've got to tell you that the physical part of what they do isn't -- you know, it is not like they're pulling your nail, but you're
blindfolded and unfortunately, the thugs are as bad as their job as everyone else in that rotten system.
I believe they don't mean to harm me as much as they do, but they don't understand simple things like when you toss a person who is blindfolded, I
don't know that's a wall in front of me and I am going to go face first into it or I don't know, there is a staircase and I am going to go rolling
down.
So I --
AMANPOUR: Did that happen?
NAMAZI: I did, yes. Both of those things happened. There were -- that part still you could endure, but not day after day after day, non-stop. There
was a lot of humiliation, that I am not comfortable talking about. I mean, another -- well, because it had a profound effect on me.
It is just I still haven't even gotten to talking about it fully in therapy. It is just -- they humiliates you and they always do this while
you're blindfolded. You know, they -- it is that -- they are that cowardly. The guy beating you up won't even you see -- I saw my interrogators, but
the thugs were of a different -- of a different nature.
(END VIDEO CLIP)
QUEST: The full interview can be seen at 6:30 AM in the UK and in Europe, the full interview on CNN, of course.
New polling shows former President Trump slightly ahead of Kamala Harris in some of the most critical states of the election, and at the same time,
there are those who are saying the polls might not be as accurate as the polls would suggest.
Well, Harry Enten will make sense of it, well, we hope he will. Thank you.
(COMMERCIAL BREAK)
QUEST: Ukrainian President Volodymyr Zelenskyy is in the United States ahead of his speech at the UN General Assembly, which will be on Wednesday.
President Zelenskyy started the visit with a tour of an ammunition plant in Pennsylvania.
[16:20:09]
He thanked workers there for providing Ukraine with the munitions. The president is expected to meet later this week with President Biden and
other US leaders where he is expected to present his plan for winning the war against Russia.
Alex Marquardt is with us.
What does -- as best as you can gauge, what does the plan contain that wouldn't be in amongst the obvious?
ALEX MARQUARDT, CNN SENIOR NATIONAL SECURITY CORRESPONDENT: Well, that is of course the $64,000.00 question, Richard, and that is what we are trying
to answer and hope to in the coming days.
And frankly, President Zelenskyy, as far as we understand, has not shared too many of the details with his American counterparts. The Americans being
among the most, if not the most important supporters of Ukraine in this war against Russia.
So President Zelenskyy, taking the opportunity, this week to not just come to the United States, come to the UN General Assembly to generate continued
and increased support for Ukraine's war against the Russians, but also to essentially tell the world that we do see an end game to this, we do see a
way out, a way to a diplomatic solution. It is not just about the military solution of defeating Russia and pushing them back.
What that entails, we don't know. Of course, there is some speculation that their incursion into Russia when they took that large piece of territory in
the Kursk Region of Russia, could be used as part of a trade.
We have heard President Zelenskyy reject the notion of giving up any of the territory that Ukraine lost after 1991. Of course, they lost Crimea back in
2014. They've now lost around 30 percent of the country.
So we have President Zelenskyy already here in the United States, in New York. He spoke earlier today. As you mentioned, he is going to give his
speech on Wednesday, but then the big day, Richard, for the future of the war, he will be going down to Washington to present that plan, not just to
President Biden, but to Vice President Kamala Harris.
And we understand he could actually meet with former President Trump as well -- Richard.
QUEST: The exact ramifications of the result, we sort of know what happens if Kamala Harris wins. It is a sort of version of business continues for
Ukraine. But if Donald Trump wins, if you listen to what the president -- the former president says, it is not clear. He says he is going to solve it
before inauguration.
MARQUARDT: He says he could solve it in 24 hours. I mean, he is essentially saying I am such a great dealmaker that this war is going to be over
immediately.
And of course that gives people, President Zelenskyy, foremost among them concerns that essentially President Trump past and potentially future
president trump would give concessions, major concessions, including Ukrainian territory to the Russians.
Now, President Zelenskyy and Ukrainian officials that I speak with across the board are extremely careful at not coming across as a partisan issue.
They don't want to be say a Democratic issue and not a Republican issue. They want to make sure that both parties support them, certainly when it
comes to aid.
And we have seen that in a large way, but of course there has been some erosion on the Republican side.
Now, listen, President Zelenskyy says that Trump has told him that yes, they will continue. He would continue to support the Ukrainians, continue
to give them what they need, but I just want to point out now a very interesting couple of lines in an interview that came out yesterday in "The
New Yorker" of President Zelenskyy in which he told the interviewer, "My feeling is that trump doesn't really know how to stop the war, even if he
might think he knows how."
And then when talking about the potential future Vice President JD Vance, Zelenskyy says of him: "He is too radical." So those aren't necessarily the
nicest words from President Zelenskyy, but he does generally hedge his bets -- Richard.
QUEST: All right, one form -- very quick follow-up on that. That comment about Donald Trump is exactly the sort of comment that would enrage the
former president because it would suggest he is not the art of the deal.
MARQUARDT: You're absolutely right, and we have yet to see any kind of reaction from President Trump, but he, but Zelenskyy went on to say that he
-- that once Trump gets in the weeds, he will understand how complex it is and he has gotten those assurances that he will continue to support
Ukraine.
QUEST: Alex, grateful, as always, sir.
There are 43 days before the Election Day, I was going to say polling day, but people are already voting. Kamala Harris and Donald Trump are
essentially in a deadlock.
Our latest poll of polls has the vice president 50 to 47 for the former. The new polling by "The New York Times" - Siena College has Trump leading
by a slight margin in Arizona. The two are within the margin of error in Georgia and Carolina.
[16:25:02]
Harry Enten is with me.
Harry, this idea that the devil is in the details, yes. But what's the detail showing?
HARRY ENTEN, CNN SENIOR DATA REPORTER: I think the details are showing that those national polling leads don't mean diddly-squat because the bottom
line is, this is a race to 270 electoral votes, and what we see in that race to 270 electoral votes is that both Kamala Harris and Donald Trump
have their bases, right?
Kamala Harris' best path at this particular point runs through those industrial Midwest states. I am talking about, of course Wisconsin and
Michigan, as well as adding that Great Lake battleground state of Pennsylvania, while Donald Trump's strengths run through those Sunbelt
States that you just had up on your screen, right?
You're talking about Georgia, Arizona, North Carolina, and what that essentially leads to at this point are races in those states that are so
tight that while Kamala Harris has the slightest of edges in the electoral college, it is not anything she should take home to the bank even if she
has a national lead in which that is pretty clear at this time.
QUEST: Right. So national lead is to a large extent --
ENTEN: It's irrelevant.
QUEST: It is irrelevant in a sense because you're right, it is going to be fought to those.
So of the states, over 43 days out, of the two -- you can have two, that you're most interested in.
ENTEN: The two I am most interested in are North Carolina and Pennsylvania. Why? Pennsylvania has 19 electoral votes? It is the most of any of those
battleground states. It is the one that most often will determine the winner.
North Carolina has 16 electoral votes. It is the closest one of the two states that have 16 electoral votes along with Georgia.
So if you could tell me on Election Day, or going into Election Day, who is going to carry those two states? I think there is a pretty gosh darn good
chance, I can tell you who is going to win the electoral college and therefore be the next president of the United States.
QUEST: Can you see any outliers in any of the other states?
ENTEN: Sure. I think one of the more interesting states that I am interested in, that is not any of those seven key battleground states that
we are talking about.
QUEST: Right. Yes.
ENTEN: How about the state of Alaska, three electoral votes? No way, way far northwest. Why? Alaska kind of goes to the beat of its own drummer and
there are some data that suggests that Alaska might be a little bit closer this time around than some people think.
If Kamala Harris gets those three electoral votes, I am not saying that that is going to ultimately make that big of a difference because remember,
it is only three, but I am just answering your question, Richard Quest, and therefore, I would say of the states that I haven't mentioned so far, I
think Alaska might be the most interesting of them all.
QUEST: I was at an UNGA -- it wasn't official UNGA dinner, but there were people who are here in New York for the UN General Assembly, it was very
good meal. You and me.
ENTEN: Fantastic.
QUEST: The reality is people are still talking about -- these are people who are not living in America -- is America ready for a female president?
ENTEN: I think America is ready for a female president for the same reason that the UK was ready for Margaret Thatcher, for the same reason that
Israel was ready for Golda Meir, what was that 50 years ago or so?
QUEST: More.
ENTEN: Yes, exactly right. Benazir Bhutto, obviously, in East Asia. So the bottom line is, is that the United States is actually kind of an outlier in
its inability to elect a female to the top executive office in the country. So yes, I think that they are ready for it.
Kamala Harris has favorable ratings, they are higher than Donald Trump's, but ultimately, I think what may doom Kamala Harris in this election has
nothing to do with her at all. It is the fact that the man who currently holds a job, Joe Biden has an approval rating that is hovering right at
about 40 percent.
I can't think in all of the years of polling data of a president, even if the president was going adios amigos, the successor within their party was
able to win with the president with that low approval rating. I think that's the underdiscussed factor going on here.
The fundamentals actually probably slightly favor Donald Trump, given that we've had a slowdown in the jobs report, given that people still are
feeling the inflation. Really the best economic piece of data you have out there is that S&P 500, and to be honest, Richard Quest, I am not sure that
will ultimately be enough.
But guess what? In 40 or so days, we will find out whether or not it is enough for Kamala Harris to become the first female president in this great
country of ours.
QUEST: I am all for it. I am looking forward to chatting with you even more.
ENTEN: Beautiful.
QUEST: Getting under your skin, as we go forward.
ENTEN: You never get -- you never get under my skin.
QUEST: There we go. There we go. You rose to the bait with me. Just reel him in.
ENTEN: No, no.
QUEST: Reel him in.
ENTEN: We just got to break column, my friend. That's what we need to do.
QUEST: Now, you're talking. I'll bring the chopped liver.
Harry, good to see.
ENTEN: Nice to see you.
QUEST: The UNGA, and we call it UNGA -- U-N-G-A -- it's tomorrow, it starts. The Croatian Prime Minister Andrej Plenkovic is with me. He will be
-- there he is. Mr. Prime Minister, good to see you, sir. We will talk your country and European politics and US politics, and you will avoid answering
probably that last bit, but we will talk about it after the break.
(COMMERCIAL BREAK)
[16:32:40]
QUEST: I like to bring you more breaking news. An increase -- large increase, in the death toll from Israel strikes on Lebanon from what we
were talking about at the beginning of the program. Lebanese officials now say Monday strikes killed at least 492 people and 1600 have been wounded.
It's the deadliest day of Israeli strikes since -- in Lebanon since the 2006 war. Israel says it hit more than 1000 Hezbollah targets, including
stores of munitions.
Germany's Chancellor Olaf Scholz says Sunday's state elections in Brandenburg shows his party still has a mandate. According to exit polls,
it gave his social democrats a narrow edge over the far-right alternative for Germany. The AfD still has a large enough minority in Brandenburg to
potentially win concessions.
The Croatian Prime Minister Andrei Plenkovich knows all about working with politicians on the far right. He formed a governing coalition this spring
that includes the homeland movement party. Croatia, of course, has remained a strong voice for the E.U. and it benefits, of course, that its members
receive. The prime minister of Croatia -- prime minister is with me now. Prime Minister, it is good to see you, sir. I am grateful.
This shift to the far right. This shift, which we saw and continues to see how difficult and uncomfortable does it make it for more centrists like
yourself?
ANDREI PLENKOVICH, PRIME MINISTER OF CROATIA: Well, first of all, we had the third victory, as you have shown in the introduction of this
conversation between the two of us, that we have won the elections for the third time in Croatia over the past eight years. We formed a coalition now
with the homeland movement, but also with some other political parties which are of liberal orientation, which represent national minorities.
And we have converged with a program of government which basically reflects 90 percent of our program for the elections with some elements that
partners included. So, I didn't see in Croatia any move that one could consider from outside as deviating from the center right line that I have
been implemented as Croatian Prime Minister over the past eight years. And we'll continue to do so next four years.
[16:35:04]
QUEST: As you look at the way in which -- I mean, you know we can -- we can complain about far-right votes, et cetera, et cetera but the reality is, if
that's what Europeans are voting for, then they are telling us that something is wrong. What is that wrong?
PLENKOVICH: Well, in my view, there were several elements which caused the changing architecture of the political spectrum across Europe. Number one
are the consequences of the migratory crisis that is now with us for 10 years, the illegal migration has altered not only the security of our
citizens but has impacted -- in many Western countries the way of life. So, this is one of the major reasons.
The second reason is, of course, not only the consequences of COVID in terms of economic and social crisis, but then, of course, Putin's brutal
aggression against Ukraine for last 2-1/2 years causing the biggest energy crisis around the world, and especially in Europe, and the rise of prices
of energy. When you combine these three elements with migratory crisis, COVID crisis, change of our habits and the energy crisis with inflatory
pressures I guess this is one of the major reasons why people decided to vote for some other political options, rather than the mainstream.
QUEST: But if I look at the sort of the people at the top, I mean, there will be a change from Charles Michel and President Ursula von der Leyen and
if we look at the general makeup, it is difficult to see how European policies can adjust to accommodate a far-right agenda, particularly when
you have people like Viktor Orban who are still being very difficult.
PLENKOVICH: Well, we are after the European elections in the process of the start of the new commission, the change from Charles Michel to Antonio
Costa, all of these people who are within the new commission ranks come from the moderate parties. And also, Orban was, until yesterday basically
part of the EPP. Now he has created a new group, the Patriots, but I think that the majority that is supporting the new commission is very much
balanced and you don't see an impact of the any extreme political parties that you might consider.
QUEST: If we -- I'm just going to take a flyer at this one. If we look at the U.S. election, obviously, you will be studiously neutral in terms of --
and you will probably sort of say it's up to the American people, et cetera, et cetera. But can Europe accommodate President Trump?
PLENKOVICH: Well, as you said, our position and especially mine as the prime minister of a country is to respect whatever the American people will
decide in November and I'm sure that all of my other colleagues would say the same. We, of course, worked with President Trump and his administration
for four years. We worked with President Biden and his administration over the past four years, we should respect the will of the American people.
We want everything to pass orderly and that the American democracy is strengthened after the November elections, rather than weakened as it was
last time.
QUEST: Right? But on that last point, sir, the New York Times had an article just last week about how European governments are questioning the
strength, not the just as the strength of the -- of America's democracy and its ability to withstand these current forces. Do you question America's
ability to withstand these forces?
PLENKOVICH: Well, we are -- we are very closely observing what's going on in the United States. What we see here is a great polarization, very much
of a conflicting scenario. But this is -- I would say, also imminent in some other democratic countries, we have seen fragmentation, polarization
recently, across the board, this sometimes bring changes. Sometimes mainstream parties, such as mine, managed to remain in power for three
consecutive mandates which doesn't seem to be so easy.
But let's say we've done our homework in terms of reforms and the GDP growth and the credit rating, which is now a minus according to S&P and
Fitch and the prospects for Croatia as the youngest member state in terms of economic growth and catching up with those who were in the Union before
looks rather positive, and I shall make sure that we continue fulfilling our obligations and create better conditions for Croats.
And the businesses and especially for the investors, including the Americans because I'll be seeing them tonight here in New York.
QUEST: And your country, of course, as you well know, sir, because you and I have visited there together. Excellent place, magnificent place for a
holiday.
PLENKOVICH: You want more? Please visit us again, Richard.
QUEST: Oh, I don't think I need much more of an invitation than that, Prime Minister. Thank you.
[16:40:03]
As we continue tonight on QUEST MEANS BUSINESS, the president of the EIP, European Investment Bank, there she is. Very different. These multilateral
lending institutions now to deal with politics. Gosh, horror. With me after the break to discuss all things Europe. QUEST MEANS BUSINESS.
(COMMERCIAL BREAK)
QUEST: Business activity in the Eurozone fell sharply in September. The latest PMI survey showed a broad-based slowdown and that's at the Euro
lower against the dollar. The traders are betting. The ECB is going to ease policy even more. Now we only had two rate cuts, and the EIB, the European
Investment Bank is expanding its financing focusing on global health initiatives and climate change.
Nadia Calvino is the president of the EIB. Ma'am, it's good to see you. New role, but lovely to have you with us to talk about this. Before we get into
what you're doing at the EIB. The reality is, whether it be the EIB, BRD, all of you, you are having to lend in circumstances. War in Ukraine, war in
Gaza. You're lending in circumstances that was never really envisaged for the multilaterals.
NADIA CALVINO, PRESIDENT, EUROPEAN INVESTMENT BANK: Well, geo -- it's great to see you, Richard. And indeed, I mean geopolitics, of course, affects the
global economy and multilateral institutions have to deal with the reality on the ground. So, nothing new there, really. I think that what's new is
that the multilateral system is working better than ever as a system trying to provide solutions and contribute to peace around the world and
stability, financial stability, economic stability and prosperity in a -- in a quite complex environment, indeed.
QUEST: But your lending -- let's take Ukraine for an example, yourselves and sister organizations. Here is a country essentially at war, well, not
essentially at war, and you're rebuilding whilst at the same time the war continues.
CALVINO: We are supporting Ukraine and actually, the European Union support to Ukraine is unwavering. It's a no brainer. I mean, we have a -- an
aggressive state just at our borders. So, we have to ensure that that doesn't prevail. We know what happens. They don't stop there. So, we are
supporting Ukraine right now. We're focusing very much in supporting the preparation for the winter.
A large part of the energy infrastructures have been destroyed. So, we are mobilizing a package of 450 million euros to precisely provide the
necessary support and ensure that they can have electricity and the economy continues to run as normally as possible in the midst of a war, as you were
rightly saying.
[16:45:11]
QUEST: Now, of course, do you believe that the set of skills, and by this, I'm thinking the political antenna, the political skills that somebody like
yourself brings from your previous careers in domestic politics. These are now crucial in large organizations. I think, for example, of President
Lagarde at the ECB who was by no means, you know, an economist, but in terms of running a central bank.
But she was, of course, extremely politically aware. Same for yourself from finance into an EIP, but your real skill is in politics and running the --
and knowing how to get things done.
CALVINO: Well, Richard, I'm an economist, and I've been in economic policy for my whole career. So, I would say I have a strong skill, you know,
technical skill for that job. But at the same time, you're absolutely right. I mean, it's not only a matter of knowing what to do. It's a matter
of getting it done and trying to deal with a very complex political environment and be successful, know how to negotiate.
But I would say all the persons that are at the helm of the large multilateral institutions right now do have those necessary skills.
QUEST: Oh, I'm sure they do, but there's a shift. So, for example, what is going to be? I mean, I could take any economist or business leader or
whatever, but my guess is that your priorities for your tenure at the EIB will have a greater geopolitical and strategic column to them than perhaps
others might.
CALVINO: Indeed, I think that right now, our top priorities are very much aligned with the European Union's priorities. We are the financial arm of
the E.U. We invest around 90 percent of our investments are inside the European Union. And that means that, indeed, first of all, we want to
consolidate ourselves as the climate bank, we want to also support Europe, security and defense industry, agriculture, new technologies.
You know, those policy priorities which are decided by European leaders we support with our finance in a very effective manner indeed.
QUEST: Are you going to do mission creep like the EBRD? Are you going to extend the definition of Europe into some parts of southern Mediterranean,
out across into Middle East, pops up into the Caucasus above and beyond?
CALVINO: Well, we don't define the scope and the borders of Europe, Richard, but indeed, I mean the 10 percent of our investment that we do
outside the European Union is very much supporting the neighborhood. Right now, Ukraine, but also those countries that want to become European Union
members, South Mediterranean, and, of course, also the rest of the world.
Actually, now that I'm in New York, you're participating in the -- in the General Assembly of the European -- of the United Nations. I am signing
agreements, for example, with the World Health Organization, which are very relevant for Africa to support primary health in Africa and other parts of
the world. So, we are very relevant, also outside the boundaries of Europe.
QUEST: As interest rates come down and -- I mean, whether we have a soft landing or not is but -- you know, it's somewhat mooched as the cake is
baked. Do you see a period of sluggish growth or are we off to the races again?
QUEST: Actually, the global economy and the European economy too has shown remarkable resilience. After the pandemic there was this very strong
recovery. So far, the -- what we see is that inflation is under control and there was no recession. So, the soft-landing scenario is the most likely
one, but there is very high uncertainty and the challenges on the geopolitical sphere are extremely -- extreme, you know, bring extreme
uncertainty on the forecast.
But so far, I would say central bankers and also economic policy leaders have taken the right decisions. They have got it right and I hope we
continue on the same track.
QUEST: I'm very grateful you've come in to talk to us today and we look forward to it. Do you ever use -- I'm sure you do a bit of texting on
what's happening. Do you ever use emojis?
CALVINO: I do, yes.
QUEST: With all new set of them that you can now start using, as I'm sure you have seen today. Thank you very much, ma'am. Stay watching and we'll
show you. Good to see you. Now, the latest set of emojis have just been announced. What they all actually mean and how they all come together. I
mean, for goodness sake, what on earth does that mean? I don't know. Does it mean that? After the break.
(COMMERCIAL BREAK)
[16:52:30]
QUEST: A whole new set of emojis are coming to smartphones in a couple of months. I have no idea what they will actually mean. So, all right. Clare
Duffy is going to help me understand. I'm just going to text her and ask what it's all about. Clare, these new emojis are a real mess. Trying to
make sense of them, but I've got nothing. I don't know.
CLARE DUFFY, CNN BUSINESS WRITER: Let me have a go. I'll keep going to see what I can find.
QUEST: Honestly, why this flag? And good heavens, there's no clue on why they chose any of this.
DUFFY: This is exhausting. I feel a headache coming on.
QUEST: And on that message and that note, Clare Duffy is now with me. How did they choose them?
DUFFY: Yes, Richard. It's actually kind of an interesting back story. There's this nonprofit called the Unicode Consortium that every year gets
suggestions concepts for new emojis, and then once a year, they put out this new recommended list for device makers and operating systems to adopt.
And then those operating systems like iOS and Android, they can make some tweaks to these designs before we all will eventually see them on our
devices, likely starting early 2025.
So, we have eight of these new emojis, the exhausted face, which is the most popular of this list. I can see myself certainly using this one.
There's also a fingerprint, a purpose flat, a root vegetable, a tree without leaves, which is meant to be a way of talking about climate change
and drought, which is kind of interesting. And then you have a harp and a shovel and the flag for Sark, which is a remote island in the English
Channel, Richard. Eight of these new emojis.
QUEST: I've been to Sark. There's something of Sark. It is -- it really is in the middle of the English Channel. Very good. But look, what -- the one
I really don't understand, hang on, what is it? Oh, I'm dropping. Oh, now look at what you've done. I don't understand the radish. I don't understand
the radish or the fingerprint or the harp. I mean, how would you use these?
DUFFY: I mean, I think, personally, I would use the fingerprint like as I'm stalking somebody on the internet for a story that I'm working on. This is
my clue. I found a fingerprint. I found a clue. I think that one I actually could have some fun with. I was talking with a member of my team who said
that they're a gardener, and they're actually really excited they grow radishes. They're excited to use that one. And this is kind of the
interesting thing about emojis, right?
[16:55:03]
As the nonprofit can put them out and have maybe an idea of how people will use them, but people -- these things take on a life of their own in our
communications, but they do end up having a really sort of important role in terms of how we communicate with each other and on the internet. I mean,
I think of the laughing, crying face emoji.
QUEST: Right.
(CROSSTALK)
DUFFY: -- very popular around millennials, but now Gen Z thinks it's cringe.
QUEST: OK. But I'm having a generational issue with one of my producers who bake -- because I'm saying that when you use an emoji, you do import into
your message a whole range of thoughts, emotions and feelings. If I say this is how I'm feeling, you know what I'm saying? She says, nah, they're
just ironic. I'm reading too much into it. People use them willy-nilly. Go on. You're the referee. You're the judge. Who's right?
(CROSSTALK)
DUFFY: I mean, it's amazing. It could be both. It could be a mix, but like when I'm tired, often these days, because we don't have this exhausted
emoji, I use the skull and crossbones emoji I'm dead, you know? So, it's a mix of things but I don't think you always have to take them so literally.
But Richard, I have an important update for you. I will be submitting a new emoji for consideration next year.
QUEST: Ah. Just answer the question, what does it mean? What does it -- how -- hold it up. Hold it up.
(CROSSTALK)
CALVINO: Every time -- every time I have the big business story of the day I'll be bringing this out.
QUEST: @RichardQuest, that's my Twitter or X or quest@cnn.com. Richard.quest@cnn.com.
How would you use that emoji in a sentence? Let me know and the best one will
get my thanks. How would you use it? Thank you very much. We'll take a profitable moment after break. QUEST MEANS BUSINESS.
(COMMERCIAL BREAK)
QUEST: Tonight's profitable moment. I used to hate emojis. I thought they were the lowest common denominator, the weakest of the week, the sarcasm of
patheticness in getting a communication and message across. And then I realized the sheer genius of being able to hide behind an emoji, because if
you use them properly and I think that automatically people are using them properly, you say exactly what you want to say.
Some people will choose to hide behind them. Others will choose to use them as a way to emphasize further. That is what they are talking about. If I
show you this, and I say I've not got there's nothing left, that reinforces it. If I show you this, I've been digging up all day and you know what I
mean. It adds an emphasis, a modern form of emphasis to our communications that is greatly beneficial.
It is a punctuation, if you will, from which we can all benefit, because unlike all good punctuation, it clarifies the message that you are saying.
So, on Friday night, when I say to the boss, what a long week it has been and even though it's Monday morning, no one is in any doubt about how I
feel.
And that's QUEST MEANS BUSINESS for tonight.
[17:00:01]
I'm Richard Quest in New York. Whatever you're up to in the hours ahead, I hope it's profitable. Profitable. We got the idea.
END
