he has a long way to go before the horrible becomes an international reserve currency that's the dominant view from a conference focused on the prospects for the russian currency good steps according to some analysts to government bond markets stabilize the diversity of course an economy and blow the inflation but whether the president of the my success says russia is making progress. getting ruble to be accepted in subtle and soon she says in the cold and stable then this is the first step towards the ball and making room borders of current old boy. i thought from the business see more news analysis time.

more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. giant corporations are on the day.

which brighten if you moon about the sun moon from france to pressure. you start on t.v. dot com. this is our breaking news this hour at least seven people have been killed and around fifty injured powerful car bomb attack in the central market of the southern russian city very tough because police have cordoned off the scene vacuum eighteen people from the area concerns of a second explosion president of the republicans are starting to assess the damage.

but next starting is a country which over talks to the award winning british historian and economist robert skidelsky about the economic crisis and why the stories he measures may only make things worse and he tells us why russia and europe should form a military alliance that's next on. lord skidelsky a member of the british house of lords award winning historian and corniest and an expert on russia is here with us today thank you very much for joining us this group or skidelsky your wrists and book canes the return of the must step up philosopher and economist john maynard keynes received several awards how relevant the economists feel today i would say they were very relevant in three respects first of all he explained how we got into this mess this crisis in two thousand and

eight two thousand and nine secondly he tells us what we ought to do about it how to get out of it and thirdly he tells us how to avoid how we can minimize our chances of getting into another one and i think no other economist does that he was the greatest economist of the last century in one of the articles you said that europe was a declining economy cli and politically why is this happening and what are the signs of the crisis well of course europe's been very badly hit by the recession and it's got very high unemployment but beyond that i think europe is in decline it's it's weaker than it was it's population is it is not expanding and the others are it's been affected by the rise of asia and particularly the rise of china so if you think back to one hundred years ago europe was the center of the world now of course it's not and it's much much weaker than it was and partly it

has no unity there's a european union but it is no european government and till they get european government they're not going to play or be able to play a major part in the world the world of. the collapse of the greek economy has impacted the whole of the european union. and does this mean that the e.u. is vulnerable as a groupie well of course it is because it was based on the idea that everyone is progresses at the same rate well if there are some weaknesses. in some parts of it it affects the whole lot because it means that the exchange rate is weaken and it also means that some countries like germany have to bail out other companies so if anything goes wrong in one part of the union it's the responsibility of other countries and they didn't think they were going to have to assume those

responsibilities so i think the greek the greek crisis has impacted the whole of the union immediately immediately it. created a crisis of confidence in the euro germany and france want there to be consequences for the countries which ran up excessive deficits like greece is this a necessary step well of course i think people have to countries have to be have to live within their means so to speak and not spending extravagantly but when they talk about consequences for greece they also have to consider the consequences for greece and other weak countries will have consequences for them i mean if if if they cut down on government spending in the mediterranean countries that will mean less demand for german exports and so it will impact them it's not just consequences for the for the weak countries it's consequences for everyone so i

think they have to be very very careful in wanting greece to pay the price of its extravagance because in paying that price the germans will also have to pay a price they're the strongest country in the your opinion and from such as well and what are the countries which could be potentially some. gypped to these matches greece italy spain ireland. england. portugal they're all they've all adopted what's called fiscal consolidation policies they've all said that they're going to spend the next over the next four or five years to balance their budgets and i think that's going to have a very bad effect because i think it's going to slow down the growth a recovery will slow down the recovery it might even lead to a double double dip recession as it's called so you actually go down again so they're very dangerous times for the world economy over the next six months the german finance minister suggests introducing

a european want to trade font is this necessary is this a necessary edition to the current system i think it would help yes i think that's the one good suggestion that's actually emerged from the crisis i think most of the suggestions have been terrible but this is a good one. because it mobilizes some resources that can be brought to help we countries in an emergency it's rather like your original version of the i.m.f. you know the i.m.f. countries can borrow from the i.m.f. on conditions but of course it depends whether they can mobilize the required resources on a permanent basis they have done it on a temporary basis so far on a permanent basis and what conditions they attach to lending the money if the conditions are too hard then i think they can actually make matters worse but it is a good it is a good step towards a government of europe even if that expenditure reduction is the key danger of the

current economic situation why is that and if so what can it result well i think expenditure reduction is a huge danger because it's cutting down spending the government in a recession the government is really kompany. for a decline in private spending overall the spending in the economy is less than it was and then private sector spending less government has to spend more that's the only way of keeping economies going and i don't know who exactly has some politicians that there is a crisis like the current one you have to pay people the money make them work even if you if you make them the money and dig them out well cain said cain said you know that you'll you'll you'll you'll get rid of unemployment if you if you dig dig holes in the ground and get people to fill them up again or if the treasury filled the old bottles with banknotes and milton friedman said the same thing helicopter

money would just scatter money over over the country and that'll get rid of unemployment no between serious the german economy is a very strong economy but it is an export economy and its exports have been growing why because basically because china has been growing very fast in the last year or so if china's growth. stops but gets less if european if european growth falters as a result of these cuts everywhere if american growth slows down then the germans will not be doing so well and i don't think they'll be doing as well as they are now in over the next year i think they're going to face a moment of truth when everyone slowing down is going to be very bad for the german economy the german economy will slow down to you criticize the decision of the european leaders to withdraw all fiscal stimulation programs which have been

operating over the last two years could this cause a slump in logic. i think i think it can i think the the with the withdrawal of the fiscal stimulus is very is very risky because it's been like a lifeline it's been a life support system. and everyone said oh really the big big problem is the hole in the government finances that they're that they're spending much more than they're raising in revenue it's not the hole in the government finances that's the problem it's the hole in the economy that's the problem and you know if you if you deal with the hole in the economy the finances will get better automatically because revenues of the revenues of the government will increase and their expenditure on unemployment will fall so you deal with the economy and the budget will look after itself more or less i'm that's an exaggeration well leaving the economy to one side and one of your interviews you set that russia could provide

military defense to the european union under what conditions could this happen. well what i meant by saying that russia could support europe in security matters was that russia should become part of the european security system and i think the simplest way to have done that would have been for russia to become a member of nato which is i think something that in one kid when he was president but they did they didn't want russia in but that would have been the simplest way but as it is russia should become a much more effective part of the european security system and not be outside it because the european actually european military is very very weak the very two military power in europe the french and the british the rest have to do anything really but they're small and there's no unity. sort of

no agreement to create something larger and russia has a has a has has good military forces and they're becoming increasingly modernize and specialized to the kind of work. that military forces have to do today which isn't provide huge rewards. but to be part of the counterinsurgency operations peacekeeping operations and so on so russia could be a great asset for european security system and president medvedev has suggested a new security concept that would include russia and we should we should take him up on that and really see we'll walk we can do with it because all through russia is part of europe it shouldn't be outside it. let's get else thank you very much for your time.

dramatic example of this from mrs. currie. they managed not only to stay alive. but to keep their faces and souls in inhuman circumstances. nine hundred days in besieged linen ran through the eyes of the survivors. if if. when the news is not enough. when it's something really crucial when you want to get down to brass tacks women special coverage. this time the latest news from being

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this is r.t. breaking news this hour at least nine people have been killed by a powerful car bomb attack in the central market of the southern russian city of that a car over fifty others were injured thirty three of whom have been taken to a local hospital four children are among the police have cordoned off the scene and are evacuating people from the area due to concerns of

a possible second explosion investigators are treating the attack as terrorism president of the republic is currently at the site to assess the damage. and we'll have an update on that blast in the next hour here in o.t. . now you know neal is here with us forces. good to have your company this is sports the day i'm going to go on these are headlines. final for the sole remaining russian woman left at flushing meadows. makes the semifinals of all the years in the last grand slam the very first time. serves on song serbia stone reaming champion spain in the quarter finals of the world basketball championships. last of the giants take to the last five or

to seriously challenge the dominance of the heavyweight division samuel peter appears for. piers on the real world wander into unchartered territory on friday the last russian woman standing at the u.s. open booking her nor girl appearance in the semifinals flushing meadows now the wimbledon finalist this year taking care of business against each one was a straightforward affair for it's already over but. perked up in a second this point typically long baseline bottle the ball goes out eventually twenty sexual is into the seventies a far cry from last season when the rockets. nation. were trying. the most important thing was to try and balance between being aggressive and i think. she now faces carline

wozniacki the dane stopping dominic it's a book of straight sets a similar pattern to the last four clash this with was easing into the first set before facing a tough second unforced errors costing spoke of a. making a muscle forty three compared to what happens much more conservative total. it's business as usual for roger federer over in the men's side of action the world number two in clinical form against one of the few players to ever be some on the courts robin so doing the swiss maestro seeing off the fifth see six four six four seven five with both men defying peel force wins york city. not federer out of this year's french open but any thoughts of a repeat performance were put to the sword early on twenty nine year old federer absolutely dominant on serve sealing the wind with a succession of aces its old foe novak djokovic next for him up to the serb brushed

. face also in front sets. the third seed how to do anything but his own way in the opener only taking it tiebreaker the next two were a different story the man they called joker taking total control seven six six one six two how it ended up odds are things will be somewhat closer in the semi's against federer. more. trying to use the we can use the speed kick you know they give you the first easy ball in the rally and i was trying to think about think. you know. what happened or just kind of doing in the present moment. one day old on the third kontinental hockey league season has already through an opposite champions humbled by merger club. so i like this of course the cape charles only ever

champions taking on the team depleted of star names but the squad. upset the odds courtesy of a superb opening third where they finished. with it and giving hope to everyone. let's stay with the league age is just a number as far as the most high profile signing of the year dominic is concerned forty five years of age the czech native and two time hart trophy winner is ready to open a new chapter of his career here in moscow rich and poor flee takes up the story. pretty much everything there is to win the world of hockey gold medal the stanley cup and even get. to be chair time for missing privileges trophy cabinet u.k. children's game income if you can if you really hate completely see made you think

. oh it was a difficult decision i i felt like. i won back up in. detroit red wings. won the championship. in the czech republic and i thought something still inside me and i also played hockey and played to take a chill. it's something new for me and i want to play for myself but i just i have probably gone a winner out of games and compete for the championship despite being in a major most goaltenders leg looking forward to be their skates pushing since he's good and great stand but you can pay. quasi or what i was in shape. to play like eighteen games but i don't know we will see. devoted cole says it's always his decision i would like to play i don't know let's say eighty percent of the games but it will see it's going to be having been in most cases just under a month cash is well aware that he has

a tough season ahead of him fully admits p.h.l. is still the world's strongest leader he says the cage show is growing in cheering from popularity especially around europe and tell its core i don't know how. that is a big. player said people saw the row about it more it's really beginning russian and starting to be big. i could watch not only n.h.l. games and be tricky but also. really deserves getting a push it will certainly feel at home with his club in moscow they wanted six players with all the checks they want to hear i said his head coach mills lesia was one of the main reasons for him joining spot time as he pulled one of the favorites to win this is going to come to dominate in his form he could put good but bowed to a talented but improving group of players which of them both we don't see moscow. that brings us all into the converse where revenge will be very much in samuel peters mind this saturday night the nigerian taking on i b f w b o i b o

heavyweight boxing champion in a rematch of their fight from some five years ago that night peter trouble the giant ukrainian more than any other fighter house to school has nine types of offenses to date pietersen the thirty four year old to the ground on three occasions for that score regained enough composure to win it on points to score younger brother of courage to see felt older for tali of a tough twelve run clash last time out against chambers i was in march on the team say they're expecting similar on september the eleventh. really exciting for a first time the second time around the same of peter's again this mandatory challenger so everyone's really looking forward to this fight lattimer with its title defense and he's pretty much established himself as the most dominant heavyweight and most consistent heavyweight out there in the last decade. i think on where they'll be no winning repeat for spain the world basketball championships

the holders knocked out by and up for it serbian squad constantine to top off the story of the quarterfinals. syrups where you get to eventually a defeat at the hands of the spin in the last two years eurobasket decider we. exult the twentieth of september last season. spanish. was much better. was a big opportunity just to see how much we grow our game and what we can do without damage splinter spall years old and prosecuted on the reigning champions experience trouble from the soul of shooting from the minute and going it's a relief and the spinners which wailing brady end of the first quarter twenty seven twenty three said he'll lose with a pair of three shots got spain back into the twenty one twenty eight early in the second quarter but market cash will mirror the three point zero from the corner to move away once again forty nine forty one to serbia tough to spain produced

a ten lasting one of the start of the third quarter to take this seriously to begin my news will hit it high arching fade away over man of steel and the spinners nailed six months or points to get within eighty six eighty one with two minutes remaining. three point zero the outs to a charm of fernandes to not want a bus to go for thunder was doing to take the score at eighty million or with just twenty five point eight seconds left and then militia had to say when the clock out before hitting the killer effortful with gemma hosts sealing the point and score at ninety two eighty nine to all their players with the catch the ball would follow them if not no because they were great great great great free throw sure there is they didn't catch it so we played with a while we had to go. into the possession of such a great shot. meanwhile in there to be sure to continue to make history is the easily

so absolutely to extend their winning streak to seven games this host amusing to the game finishing the course what a twenty seven forty mean to a jury and the turks increase their lead to double that in the second quarter the home side wishing the same influence of the championships for the first time following the routine eighty six week three how it tough it just as expected next and it still could be a service for a place in the point of complaining about our team. and to football or aston villa have finally named their new monitor former liverpool only on head start taking over the reins in birmingham their sixty three year old frenchman takes over from kevin macdonald who had been in charge at villa park since martin left his post on august ninth clear who gallantly on to to leave one titles knows english football well having spent half a dozen years with liverpool the length of his contract hasn't been with philip but it is known he'll be in charge of the side for monday's premier league game away to

stay. that wraps up all the sport but if you're hungry for more do log on to our team dot com forward slash sports for more world weather is coming up in just a tick hungry for the full story we've got it first the biggest issues get the human voice face to face with the news makers.