not do that but as long as we do it it'll probably can go on for another four five six years and what about the german people and what is their political well in the german population to carry on supporting. so so not really but the political class almost unanimously it wants to support it so there's some dissidents but it's part of the german reason of state that we're good europeans that we're good citizens of the world but. for this we've forgotten and that was my what my dissertation was all about fifteen years back but we forgot that germany also has interests national interests of its own which of course we should cooperate and of course we should be good partners but we don't have to do everything and so but the political class is firmly behind the euro so in this case it doesn't matter what the population is thinking are you one who believes that as a concepts the euro is fundamentally flawed it's basically within a currency area have to have flexible factors of production capital labor goods

industry and we don't have that in continental europe labor is not moving freely capital is moving freely goods are moving freely but as long as you don't have fully flexible markets you don't have an optimum currency area and also between germany austria the netherlands the benelux states we did have a defacto union currency union for decades they just did and they just followed the bundesbank and nobody talked about it worked perfectly but within that region you basically had an integrated market but to throw together greece and spain and italy and portugal and ireland and germany is sheer lunacy i mean sheer lunacy and they said we throw together so it will grow together but that is not promoting growing together the other way around would have been better to liberalize markets to keep national currencies to be able to just to shocks. like this so what should

we do you know that should be your is a be slowly but steadily dismantle should we wait for the us to collapse and i say ideally i would go back to a core europe and i would let the drachma return and the pursuit to return and the lira return and we still would have a european union it's not like it would be the collapse of the european union quite to the contrary if we allow those countries to set their own economic policy again and to be sovereign in their currencies we would do europe a service we're doing europe a disservice by having this artificial currency imposed on it it can only lead to political tensions like in greece where the greek population now has to suffer taxpayers germany has to suffer the only ones that didn't suffer in greece for the banks because they were fully rescued so that's to me is a deal that is not quite equitable the european central bank or recently said that countries leaving the euro same would essentially be committing political and

economic suicide what's your no not at all i mean it's of course very difficult to leave because you would have to do a lot of administrative measures you would have to prepare it very well and of course international capital may be shocked for a moment but in the end was the right supporting measures it would need some preparation it would need careful planning it would need careful execution but of course you could return the greek to the drachma and you could support it you still could support it with credits i mean the european union could step in with credit for a traditionally period but we just would not underwrite the euro we would underwrite the greek economy as a sovereign but integrated nation are you a fan of the choice mark for the torch marks sake no i'm a fan of the deutsche mark because it was a good currency in the bundesbank was a good institution and i think the rules that we had then were good rules for germany and also for europe i mean what what happens if you have a strong economy like germany. of course the darts mark would appreciate over time

which again would help the neighboring economies to export more so it would give purchasing power to the germans and so it would by itself be a neck mechanism off adjustment in the end a market mechanism that would help if you have a crawling peg or something it would help adjustments to come more easily into just words that would be good for everybody but hasn't the euro be more stable than the deutsche mark was in the ten and twenty years leading up to the year race introduction and lower inflation might as well isn't that a measure of the european crisis successful currency well we have to talk about that inflation if it's really low if the official inflation rate measures all that is to measure but in the end you had wage inflation you had goods inflation in spain in italy and greece that leads us to the current problems if we had to trust in between meaning revaluation of the market devaluation of the present which we didn't have so what we did was postpone adjustments. create unhealthy structures

and unhealthy development so as long as we don't have total economic union which we won't have for a long time we should not have one currency as an investor what would you rather put your money behind to which michael your way. i am an investor and i'm not putting my money behind any paper currency i buy stocks which is real assets stocks are tied to the economy they're not dependent on the currency per se i buy gold or buy sell via buy agricultural land i don't buy bonds bonds or paper money and we have a highly inflationary and unstable and solid monetary policy as a reaction to the crisis i mean i think as an emergency measure it was ok to print all that money because otherwise we would have had a real collapse so it's time to move back to normal and we don't do that we continue printing money and the economies are growing at an in their make pace the most so i'm not putting my money behind any state behind any bond behind any paper

currency i'm buying real assets or they germany's economy is doing much better than was expected following that the crisis is and it's i think i just did the best second quarter grace rates that i had for twenty is it's a question of how you measure those things because we fell down quite a bit but that's because of our export dependency so the economy went down a lot because exports basically imploded and now they're coming back so we have this swing but yes in the end we have a strong economy if you have lots of market leaders we still have the middle stunned the family on middle stump companies so i actually am investing quite a lot in those middle stump companies but also in some of our blue chip companies what do you think the effect of a collapse in the year is say would be on the regional and global financial markets some are saying that it would be a disaster on the scale if the collapse of lehman brothers is yes it could be drastic but again i'm not expecting it any time soon because i think germany for the wrong reasons will subscribe. to the euro it will underwrite it and continue to

underwrite it so we won't have that but in case it happened it depends on whether it will hit us prepared or non prepared and right now we're doing everything to prevent it but we're not preparing for the case that it might happen that that's the fallacy of my we should have a plan b. and if we don't have a plan b. it could indeed be drastic and what would your plan b. b. well of course a plan b. is to think about return to national currencies or to return a block or a southern block or whatever to have currency union some economic regions that are more similar that are more homogenous and we don't have that we should at least start to think about it because it's not going to be the end of the world i think even it's it's preferable but you don't have to go as far as you just have to admit that it's not going to be the end of the world and that we have to think about those things and policymakers and officials should think about it so they have plan b. more countries are joining the euro zone all the time the next one is going to be

a stone year which will take up its place on the first of january next year how does a more diverse economies joining affect the stability of the euro i don't think much because the euro is already unsustainable unsustainable in the very long run it's already too. diversified to many different countries so if we add the two or three more from from the fringes it's not going to be that more different but of course i'm in favor of strengthening europe the european union but in my point of view again the euro has nothing to do was a european union rightly could see us also thank you very much thank you. and discover it easy.

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top stories the head of an anti-drug campaign. for taking the drug. fight too far but his supporters say he got results. antifreeze britain's foreign secretary is in moscow for a friendly visit after years of frosty anglo russian relations as both sides bid to build bridges. on the bubble of high burst around the first civilian trial of a guantanamo detainee as none of the u.s. media's predictions of police cordons traffic gridlock and security threats come true. also state benefits paid more than some johns in the u.k. causing generations of unemployment this statistic show we've got the highest number of workers households of all the large common. out of many more details on all

those stories at five pm moscow time up next unions here with the sports. your company this is sports today i'm you know me and these are some of the stories we're covering this hour top of the table russia's footballers rise to the summit in european qualifying who'd be following one nil win away to us until the. best of the rest we've got highlights from other games across europe including in glasgow where winning champions spain were given a scare by scotland. strength and brotherhood that's the model fully in the first ever caucuses games culture reports in a few moments time. it's been a holy successful week for the russian national football team dick of the cabin

coast scooping up all six points on offer from there to away games a win against ardent followed up by another over muscle on tuesday rich upon poor fleet he was in skopje for us. russia when two thousand and ten on top of very tough one no victory in macedonia but russian showed no where near the same kind of pride football but they managed to show it on in just a few days ago the most important thing is that because i did later on its behalf i should come away from too tough a way trades with maximum points. heard of the way. from the dirty side but if you have six points and so the way to do her work. performance tonight were there were. so you know there's a question. is was there a fight strike from alexander because you're caught after only eight minutes was enough to give the russians picturing the end of a kind of out of more as they were dominant in a first time off are they going to slip him a second period and macedonia could about a share of the spoils pops deservedly how do you know i can fear if not saved

a second home penalty i think of a cabaret went on to say it was difficult for russia to cope so then you're playing simon. bowls. better to. lure to before the game does go will be more didn't go because deserve to go was a little wrong. because of the pressure to get some opportunities out of rome out of football but once again alexander excellence has been in great form for his club sides needs over the last month or so trying to carve out form over to the national side but a high praise from his manager dick of the cats because you're obviously himself is very don't like to admit he said the pitch certainly didn't help russia. might say that the pitch conditions were a little bit more difficult to than they would niall and the bounce of the ball was very unpredictable which added to the challenge however we control the tempo with macedonia using the long ball against us because we could have schooled more but

one new and three points is a good result. russia came into being too tough away matches on the great impression following september's defeat to sack year but a combination of a bit of log and results going by way of sunny painted a rosy picture and dick advocaat is confident going into the second half of the qualification campaign. we were anyone ever lost against. brazil doing that. it is improving and every go in there go the way like this. so russia toggery be on mine points off the four games and pick up a cavalier plenty of time to prepare his side of a next away trip to lots of dark causes of the group so far mania and not much will get under way march. the scope here macedonia. also on the night in the same group slovakia and the republic of ireland shirt in paris to finish and ledger open the scoring sixteen minutes in before yonder it's headed in an equaliser twenty

eight minutes after the mr robey keane penalty then cost the visitors leaving the final. meanwhile surprise package armenia followed last week's win over the slovaks with another one against. keeping the highlanders well in the polls. closing in on the rest of the euro. finalists leading by two points from the trio of armenia. remember only table toppers on high placed second seeded teams qualify automatically for ukraine and poland still a lot of football to be played with half a dozen games to go. though. plenty of action elsewhere on the night in glasgow spain managed to keep their one hundred percent record intact but only just against a buckling side after first tough david vs penalty. looked to be cruising by the time. and fired number two on fifty five minutes but held on by the famous.

the scots promptly house the deficit through the head of steven naismith. and then on sixty six minutes the free flowing home side how the other great. p.k. nudging the ball into his net for two. but then all the hard work was. only in the park for two minutes left all alone to finish the seventy six minutes three chiefs pain and heartbreak for the scots. in the team to win the world cup this summer the netherlands faced little resistance with sweden the spine losing the influential to an ankle injury early on that stage made it through in thirty six minutes after he fell a finishing off the first of two for him the same and then showed some nifty all footwork to set up huntelaar second. after that the dutch

took their foot off the pedal somewhat allowing sweden to nab a consolation goal through. but by then the hard work out. the. two thousand and four european championship received in the driving seat in group f. are in a huff is not the one to break the law thanks. dimitri. these really look better than the results this year he said on were fully deserving of their equaliser. cheer. moment. ended in the israel penalty area leading to the. two on. those. serbia much was abundant after seven minutes. fireworks constantly being thrown on the pitch towards.

the game. italy more than. three. victory the shock of the evening was in. turkey. austria share of the spoils. in the same group a. memorable night at the expense of northern ireland group c. . beating by switch. next week. to watch a little tennis in the kremlin cup is just the ticket. will headline the minstrel while francesca schiavone will be joined by cried favorites. in the women's tournament. so the kremlin cup is the oldest competition around here in russia we've been here since the day our state was founded no other sport has

a similar event so we're very proud of the cup being the backbone for russian tennis which has been pretty successful on its own we kept a list of two hundred five countries all around achievements over the last ten years. finally one of the proudest moments and site russia sporting heritage has come to a close they know a girl caucuses games wholly memorable event for the region our correspondent robert for done in reports on the tournaments which aim to discover just who is the toughest of them all. once upon a time in manton's brawl and worse came together to test their strength against each other sounds like a fairy tale but it wasn't the first ever games.

to sell the russian republic. to host teams from neighboring areas including biggest. making up the field over two hundred athletes were on hand to compete in locally they were demands such as double war and powerlifting and also more specialized areas like stilt walking. the main goal of this festival is to bring the people of the caucasus together let them meet communicate and make friends it's like a cultural exchange and all of us should unite for the sake of peace throughout russia and indeed globally the region is renowned as a risking both house and the inaugural caucuses game has brought that to life and mention way of settling scores built wrestling as sport which was woman welcomed by fans and put it like. i've already primed for ten years while beltran has

a completely new experience for me but i like him very much as a truly man's sports where you should be strong smart and persistent was. one of the simplest ways to find out who stronger aiming to go. is in the sesame here just. the two thousand and nine european fifty five gory went into the event as one of the favorites despite being against men if ten kilos heavier. no problem though the pocket rocket going over the top against all challengers over of agents of the it was tough against the bigger guys but i was ready for that in any sport and in arm wrestling in particular if you've got the will and train hard you can beat anyone or. local steam sick claimed victory at the games meaning next

year the festival will be held in the same location the organizers already promising that in twenty eleven the month of sports were presented at the games lucrece robert for the new and r t so the russia. some stunning scenery down there isn't there well that is all your sport i'll see you soon the world weather is coming up in just a moment. hungry for the full story we've got it for us the biggest issues get a human voice face to face with the news makers.

which brightened if you knew someone from funds to.

start on t.v. don't come. bad of an anti-drug campaign in russia was jailed for taking the drug fight too far but he's order say he got results plus. unconditional friendships russia says it will not place conditions on improving its relationship with britain both sides agreeing to disagree on many troubling aspects. of the bubble of hype bursts around the first civilian trial of a guantanamo detainee as not the us media's predictions of police cordons traffic gridlock and security threats come true. also hooked on handouts are reports on the benefit of being out of work in britain and how the authorities are trying to weed out the work shy from those really in need.

it's five pm in moscow and this is r t coming to you live with me and the now way first stop at their wit's end with drug addicts a group in russia as you decided to take the law into their own hands while their extreme methods of kidnapping dealers and users and forcing treatment on them may have one great support from the people but it's fallen foul of the authorities who jailed some of them for abduction and torture. a drugs raid gets underway and after hours of waiting for a contact to give the signal suddenly everybody is up and running the police are involved but not all taking part in law enforcement officers the raid has been organized by a vigilante style great name ansel's city without narcotics this is a drug called as i'm.