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This is -- Imus in the morning.
I'm on the Fox Business.
Good morning everyone the head of the International Monetary Fund will be arraigned later this morning.
Dominique Strauss-Kahn was arrested yesterday and charged with sexual assault in New York.
A hotel -- since he attacked her while she was cleaning his room on Saturday.
Ian king of the times of London joins us now from London on that in what kind of a -- is this news having on the European.
-- -- -- already via main effect is being played out in the currency markets with the euros to the seven week low against the US -- the US do you write down pretty well across the -- against most -- currencies.
A call from stood in which is always keeping the -- the currency markets to some middle taught not.
-- the sovereign debt markets seem relatively.
Recently taking it in destroyed to be to be perfectly honest we have this big meeting of the European finance ministers -- -- today where we think.
We're gonna get further details -- -- -- potential.
Bailout for Portugal which is being an Aussie agreed.
Out of course we also have further ongoing discussions on a potential second round of rescues for for -- How about we.
How that will be dealt with is is something of an issue.
One of the things -- -- -- was very very effective home.
Was and in terms of all queuing for more lenient treatment if the some of the destinations.
Within the era zone -- -- -- leniency for the likes of the Greeks -- daughters in the Portuguese.
In the face of some stern questioning particularly from the Germans who of course have to put up the majority of this money.
That's one area west distrust -- will potentially be badly missed had a very close relationship without Angela Merkel the German -- And stops -- really where he won't his -- when we felt this week we feel.
Thanks for that -- Over the weekend the -- of them organza spillway were open to prevent major flooding from hitting big cities Fox Business is Ashley west Webster's in Baton Rouge, Louisiana with the latest.
Actually what's it looking like over there.
Yeah good morning to you Diane -- just breaking here in Baton Rouge and -- -- of course still on the Mississippi which is running extremely high but I can't say the time that we've been here.
Well actually seeing it drop just a little right around 44 to 44 and a half feet.
And the reason it's dropping is because what's going on about 3035 miles -- -- -- here.
People Kansas -- as you mentioned the Army Corps of Engineers has now opened some nine gates on that spillway.
Devoting a lot of this rain swollen and snow -- swollen river.
Into the actual -- lab -- west of here that's cajun country.
Creating Havoc bad but the course says it's for the better all of -- Main cities along this stretch of the -- so in other words are going to be flooding some 3000 square miles of land to the west of here.
In some places it could reach twenty to 25 feet deep it's gonna affect some 25000.
What that means is it's relieving the pressure down here -- Baton Rouge -- the way down to.
You'll -- if supporting you always had to close it will cost about 300 million dollars a day it's a very very busy port so.
It appears that the relieving the pressure -- organza spillway is working on this part of the Mississippi now near Baton Rouge a town of about quarter of a million people.
Flood stage is around 52 -- as you can see they have this huge orange -- here isn't really the last line of defense if you -- but the good news is here at least.
That's the river does not appear that is gonna threaten this -- old but there are reports of seepage is now -- that levees.
Further south from here and it wouldn't take a whole lot for those levees to actually break.
And if that happens that we conceal sorts of chaos.
Further down the river it really is a battle against mother nature here in the mighty Mississippi showing exactly how might -- she is -- Thanks thanks -- -- good news for at Baton Rouge at least let's see what the rest of the areas forecast is going to be for -- go to Maria didn't.
Meteorologist Maria Molina and the Fox Business weather center hi Maria.
Friday and that's rights alike actually just mentioned areas like New Orleans and also batteries are going to see that's -- -- a bit here throughout the workweek -- -- think that.
Black levels are gonna hold pretty steady so that provision be rising a whole lot more but areas along the edge of the lab river including the city of -- -- city could cedar river continue to rise there.
And the Mississippi River further northward along Natchez Mississippi Greeneville and also Vicksburg.
Those cities are still expecting the river to continue to rise.
At major flood -- possibly here throughout the work week otherwise no additional rain for now we are looking at high pressure in place across much of the center of the country including those states Mississippi Arkansas.
And Louisiana so dry conditions in the short term thing.
Thanks very NL let's take a look at futures the Dow currently down 56 the NASDAQ down six S&P also down six.
Commodities are also all down oil right now down about a dollar sixty.
Coming up this hour Imus -- guests will be Fox News political analyst Juan Williams Imus in the morning continues right now on fox business and have a good --
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