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Google's executive chairman, Eric Schmidt, weighs in on the state of the Internet, privacy laws and Europe at the Davos World Economic Forum.
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-- -- -- Another huge name in the business world joins us now as we brand with claimant from Davos Switzerland and listed -- speaking with Google's executive chairman Eric Schmidt I've been telling a list guests this hour what's on it's not less.
Hey what's on Eric Schmitz mind it is congress breathing down his and Google's back of course the news breaking yesterday that.
Congress will demand more information about Google's new privacy program that they have just announced.
He says he will he told Fox Business first reaction here on this he told Fox Business they will provide all information but.
That's not Google's only issue they just missed their most recent quarterly earnings due to weaker online ad sales in the European area.
I asked Eric -- how he's going to make up the difference here's what he sent.
The Internet.
For whatever reason has different economics and everybody else because in many ways.
When a country Europe the businesses under pressure and the Internet -- traces are cheaper than in non Internet solutions.
So historically if you look over the last 1015 years.
Internet solutions have done better in tough times that you might think.
And I would imagine -- tough times come back.
We would be affected but we would not be -- as bad that's what's happened as other industry so.
From set foot of Europe.
Europeans and an awful lot of time talking about the problems -- as a consensus face -- culture.
They've managed to figure out what they're going to do with Greece which is try to sort of firewall that danger.
The next set of problems in Europe all have to do with the debt of of Italy and by extension Spain and eventually fancy because that bad it's of the great concern here in Davos is.
-- how does that ticket rolled over how does -- get monetized.
And that's a political and cultural and legal issue that they're gonna -- many months talking about.
My own opinion is optimistic I think that they will get through it I don't think we're gonna see a terrible depression and or Lehman esque moment or anything like that.
Because so many people are talking about it and the people are resourceful.
That's it took them awhile maybe they're a little slow on the uptake it having visited Brussels as part of our are working with the governments can imagine a situation we have 27 countries.
Each of which has strong votes many Smart people lots of staffs and every meeting has at least 27 shares but it takes awhile for the machinery to work.
Well it's like it didn't consensus from 27 cousins Brothers and sisters and the European model lacks the equivalent of a strong American president.
And although in America we spent a lot of time criticizing the president is wonderful to have a president.
There's a president can serve as a forcing function.
On this crisis -- at this issue or or serve as a lightning rod if you will -- something of the strategic or national importance that's why the president is so important.
There's no analogue in Europe.
How closely watching the US presidential election from the standpoint of how Google can grow because you've said in the past that sometimes government makes it a little more difficult to be innovative.
I was very pleased with the bipartisan support that we god wants people understood how the people -- bill would in fact harm the Internet.
And I think that's an example where people who understand that the Internet works don't wanna screw it up -- the principle of do no harm.
I recently basically been in Libya and Tunisia -- -- watching the election that closely.
But I think it's wonderful that we have democracy that this debate is going on.
I think that the Republicans will be served by having a very strong candidate Obama will be very strong candidate it's going to be -- tight race.
And I think that that that's good right it's good for us to see some choices and have -- thought out.
He's a free speech country.
And then finally you know you see a lot of company leaders here you talk to global leaders who -- on the most impressive here at the office.
-- among the most impressive.
I'm a supporter of David Cameron and George Osborne.
Who -- leading Britain through a very very tough tough tough crisis.
And to me watching how Britain deals with a very large public sector.
A long history -- transition.
Transit and structures and a culture that's been built over a thousand years.
He's probably very -- from an American perspective because we're so close to the Britain to Britain.
And we'll see I will tell you that it's clear that in Europe.
The French election which is may president Sarkozy against socialist candidate or perhaps others.
Will be crucial to the future of Europe because the relationship has been set -- Sarkozy and Angela Merkel.
Which is probably an inch complexes is -- way to describe it.
Is at least a workable one and if there's a political change for good domestic reasons you never know that could again be a new variable into -- Yeah who he really admires as far as world leaders are concerned I asked him.
What's the business aside from Google that you admire the most coming up in just a few minutes you're gonna hear on your show.
That company that he admires the most is had a few problems with them but he's still admires them and is very impressed.
