大象传媒

Officials from Brazil, Russia, India, China and South Africa - the so-called BRICS nations - are meeting in Brazil to discuss steps that could challenge western dominance of the global financial system. They want to set up their own development bank and emergency funding institution, to challenge the US-dominated World Bank and IMF. The 大象传媒's Katy Watson reports from Fortaleza in Brazil where the meeting is taking place. We also interview economist Jim O'Neill, the former chairman of Goldman Sachs Asset Management, who coined the BRICs monicker; does he believe the countries have enough in common to work together? And we ask if the eurozone crisis is really over, following financial concerns about Portugal's leading bank. Danny Gabay of Fathom Consulting in London says despite measures taken by the European Central Bank, the causes of the eurozone's crisis a few years ago have not been addressed.