again a welcome to spotlight the end to the show on our take algernon and today my guests in the studio is part of closing. the currency wars which were sending shivers across the financial markets appear to have been defused for now developed nations are trying to secure a more even balance between economies globally is russia going to profit from it

here's the aid to the russian president sarkozy. russia is promoting its currency the ruble as the new global reserve currency. is the rouble in trade routes neighbors including china but it wants to see used more a working group has been created in an attempt to improve the reputation of the russian currency the plan is to turn moscow into world trade center the adoption of the ruble as a reserve currency would strengthen the russian economy and give it competitive advantages when it eventually joins the world trade organization. says the accession into the organization will happen next year but that we've heard many times before. the show thank you very much for coming well first of all let's talk about the g twenty that they just took place well first of all on the cheek twenty lead. agreed

and so to abstain from devaluation of their national currencies and this as president medvedev has put it i quote inspires optimism about the future what can guarantee that this agreement will be implemented when be just a piece of paper as we say in russia. two things one small correction leaders agreed to abstain from our competitive devaluations for national currency which implies. that gives this. war to in a sense of artificial the relations a lot not all mixes of a spoiler you know not a lot related to from a mental list of for a particular economy or two things that make them believe that this commitment is really effective one one thing courage is very important is the way our previous commitments of the g twenty leaders. have been met one with example is

a commitment to refrain from our protectionism you could see much war station in the world without that commitment taken back. in washington the first summit of the leaders. all condescend to use some protective measures but without the commitment to refrain from major form of protection we could see where it was that would divide the world altogether and the second thing is a petition political commitment the leaders implies that breaking that commitment. to petition under these leaders do not want to see. you say i quote you no actual policy of printing money can increase the risks of money markets especially emerging markets to to to be needed to do to be risky and current meanwhile the u.s. keeps pumping and pumping billions of dollars of printed down. who's into its economy

doesn't it contradict the g twenty decision what about their reputation have a banner. from what i know from what i know from our finance minister and central bank they are from an informed by administration by filtering until it is your for about what he says about him ounce of for a newborn being an issue and this allows them. to make steps to evade pressure on the market in this what is really important in the garment in central bank. right to conduct policy is. that they believe are needed for the national economy but what is important for us is to know what they're going to do and to react to result to excessive for motion on. this from washington reaction constructively or might it clear. making critics

lower and this is what leaders agreed on they agree that the finance ministers and central bank are governors will need frequently will discuss those things will consult each other really develop a set of irons indicators that will help them to it would major imbalances well that brings us back to your correction when answering the first question so so so. as as far as national governments are informed and what's going on even in the united states to bring to bring dollars as far as far it's a competitive you feel more or less safe about it yeah you feel safer. there's nothing absolute in this world we feel safer into what is important. is. that we also know what the plans are very. other boris's

like fiscal policy was commitment to making toronto to reduce budget deficit by two fault in c. to four year period if all countries feel. this commitment then risks will be substantially lower the russian national news agency re enormous two writes i quote south korea proposed an idea of creating a global net of financial security is it true does russia support it tell us more about it is that one of the original ideas of the korean president. to create a called global financial safety net and the financial safety net to include both global instruments governed by the international mind the fund and other international financial organizations and two such instruments were developed. before the summit in seoul into or approved by leaders instruments that create much

more flexible conditions for countries that found themselves in problematic station to request will help receive this help without breaking preposition altogether in the second component of the original. on the part regional areas. were your direct neighbors will help your local finance i your stimulation programs in feel share. with other countries until you throw those two parts will constitute the new system is not the bretton woods two yet we are not there yet but it's one of the elements of the future and new future global mindtree system speaking about risks many experts today speak about the risks of the cheap dollar and cheap you wind for russian economy is there a risk that the ruble will start becoming too. strong.

well be her for. inexperience already. overweight it will. in the way of frugal was higher than the supposed by from the mental due to higher inflation and capital inflows that hurt before the crisis and creates risks for for the economy what is important is that the rate of appreciation of the national currency is not higher than the rate of increase in efficiency of labor productivity and energy efficiency and other efficiency indicators we believe that at least at this point in time the medium term perspective. would potential to increase efficiency even faster than the rate of increase in the real value of robel and this will keep us on the safe side and will

not expedient thing in negative and second so far of the world or because that's very very interesting to hear that from me because this is i think the first time in my lifetime that i hear from a person like here in the government to to to be betting on increasing efficiency of the got to be not of the all price in something else this is interesting well the only think we can bet on right now there is no no way we should do i explicitly on our community experts in global prices prices i was dial and we. experience that during the crisis when both physical demand and prices went down we lost a lot of revenue thought the focus of our present our government right now is to you know falls in with a musician plan to increase efficiency of the russian economy and they are so if i was them. mr kerr now production and our experts saw

it's the only way we can proceed great ok now there's still another quote i want you to comment on it comes from robert zoellick the head of the. of the world bank and he wrote in financial times recently quote the system should also consider employing gold as national reference point of market expectations about inflation deflation and future currency values and quote is russia supporting this idea of increasing the role of gold well. this. phrase. by robert zoellick the president of the of the world bank is always the exact. reference to what the president needed if the two years ago one of the scientists one of the strengths that we are advocating expanding the basket though for

reserve currencies. and we should also think about the role of walter's one of the ways in. fact that leash means russia is a supporter of the russian russia is a supporter of the sadia it's still to be discussed what exactly the old world could be. we are far from the. suggestion that the world should become a new standard to move again to the gold standard. risks involved in such such a scenario. could be even greater than than the current station but we could see a greater role of those new regional reserve currencies in gold in the new mine three system and this subject is going to be caused by both. experts finance minister central bank governance and leaders eventually i during the french . presidency

a conference french presidency in two thousand two hundred says aide to the russian president to our close spotlight will be back shortly we'll continue this interview in less than a minute outro break so stay with us don't go. seventy six hours of intense fighting. six thousand desert of beach front battlefields several kilometers long. and now there is only one person who cares. to see we are surrounded by garbage everywhere but also there are. on this beach which of course is the very most appropriate city signification a symbol of everything that's wrong with our goddamn government allowing not only garbage but to accumulate where so many guys died. a new battle is going

on. will the history be protected. return to terra what julian cooper story on our t.v. . sweet and clean. and fear useful. radioactive and dangerous. and even the dead and desolate. they all keep their unique secrets their bottoms unique lakes on our t.v. .

welcome back to the spotlight i'm alvin of in just a reminder that my guest here in the studio today is out of the out of the presidential aides a to the russian president dealing with questions and problems our economy we're discussing the the g. twenty summit that took place in in korea and russian world economy. this is not courage nokia famous communications company is said to be starting its business or whatever in skulk or the russian innovation center during the apec summit e.u. said japanese companies expressed an interest to bolt towards the skolkovo project to sell not only the finns but the japanese to which particular camp companies can you name them and how soon can we start doing some. of those tools cocoa project. has already attracted interest from all parts of the world in the finnish and

different companies because for huge interest from our other european countries our agent in countries like korea or in particular were the president of the ballot will be as well and american companies many american companies who want to participate in the project as coca-cola is already flagship project for many people. many investors professionals who are coming through russia. can question what can we do is cocoa that the first questions they ask before they ask questions about corruption conversant in general and it's important for us and skulk over time can be in the in the driver not just a physical location for four companies but. germany's company is very good conversation with them if they meet soon to be is and i miss to be metals

with heavy industries to be. sumitomo companies. historia companies giants you're talking china joins the also our japanese partners about the pharmaceutical sector and we know that in japan this the development of new drugs new from a surgical. good shape and i feel recently germany's companies were working. only with farman giants in the united states and europe and we agreed that we'll explore ways to world directly with japan's pharmaceutical companies so they can come through russia and invest in russian threats are indeed in russia. the government has approved a five year plan of privatization where do you think the assets but i know you don't work for the gold he work for the president but we're going to sell the assets and the russian change or abroad london new york paris tokyo where

the decision of the government to expand the projection program and to prioritize some major stakes in a large russian company company. it was. invoked that after the instructions of the president and after the report to the president the president approved the report from the government of the that clears the way for those protestations the reason the president is involved in that all those companies are in the list of. companies and all projects deals with those as it should be proved by the by the president so the way is open for those that are in their actions. in each individual case. mr finance and mr quantum you're. in consultations with professional as managers professional. financial institutions will take a separate decision on where and how to prioritize in moscow or in london or in new

york or in it want to know what we're going to get more money exactly also in which way i.p.o. or direct. sales as to the strategic investor or auction of the small packages to be to be sold and all other possible ways of doing it and the idea of the reason i ask this question the previous question is that is that we reading that that there's a plan our making moscow a world financial financial center and even a special group headed by mr voloshin the accent of the presidential administration is set up to create this financial financial monster inside the russian capital how's it going what has been done so far as certainly we really use regulation program to promote more score in the financial center it's early to say that most will become the global financial center and we are one of the at least what we're

starting with the regional financial center that's a first step toward this parish in moscow is a comfortable place for making capital transactions and you know is eastern europe regional is eastern. europe and serious former soviet union countries and other direct neighbors in position program is a good instrument to promote most courts. and. still the overall international financial center program involves not just pretty vision of russian as it is but also making moscow a comfortable place to live for into the business and this is one of the tasks of the new mayor of moscow to do something it's also it also requires changes in the legislation in terms of all options cognate in. preparation of proposals how to change the financial just ration pass legislation to

improve for investment climate in russia investment climate in moscow and also it's about administrative procedures about simplified visa and work permit. procedures to. simplify life for people simplify. ways for people to come through russians work to russia it's important for everyone otherwise people will just not come. next question is where is. economics where children and policies like start flocking to get their hero russian search into their will to go and the position of georgia you said i quote once again georgia is still able to block russia's assertion to the w t o but russia is expecting the assistance of some other countries which countries do you mean that could influence georgia persuade. before any country enter there with you or any

country can book a session in country since it's a concept of consensus rule it's not the majority ward in the eye. till the very last moment until. the in argument comes that any country is to accept the literal this is not taken. any country including georgia can block the russian russian recession. but what makes us confident that we can go through this process is the real interest of our major partners. in europe and the united states in russia joining. we know that they're interested so it's clear that they will try to help. the there is a technical way to communicate with her for our swiss partners. as our

representatives. right now so certainly switzerland will be one of their partners but we also expect support for our our other partners in this process. another couple i want experts out hold them rather critics of what you do with the president say that the problem is actually in the fact that the demand for integration products is extremely low in russia as well as the love all up competition would you agree at least partially because i was fully agree with that and you know we started working our own arm of the middle initial program that i visit the same idea that we should to stimulate demand for innovations how can you do something which is out of the mark on the block this is very odd to me this is the way that this is why we should start with releasing the month and we are trying to do that was in direct way and also in that way. that way to do this is storm

change the system of government procurement. to all increase the state demand for new. and i waited for more than woods in services and. will they be prepared to piece of legislation that will. allow our store require the products and services that we are buying should. be in compliance and consistent with the most. and more than standards of his birthday whaleboat standards in the world so we were getting was annoyed broad of also we will create a system where we can. make the advance order for things that are not created yet which will. make another push for innovations that companies will know that we need something in c years so they will try to develop that something. indirect way to stimulate demand for innovations is to create way disincentives like tax incentives

. or. develop new technical regular technical standards for the private sector for people thought that they will start. increasing demand for new products and services will do both really last very short question your boss he seems to want also not only to do the inside the country but to start selling russian invasion on the global market and he said negatives i mean the president he said that is emphasizing the importance of creating popular high tech brands in russia can you name any of them except the sputnik and the they are scanned the some of wired the brands that russia will be famous we don't know yet sincerely begin the process but. our focus besides the big things like nuclear energy and space is also small things that people need like

her new formosa tickle products new eighty products and eighty i think an area were because of fear competes for the one that you have good muscle occasion and with good professionals. we're sure as a support visit with conditions they will create something new and this is softer on the wall that there are examples origin like. pierce brother thank you virus products are famous along the world some bottles same thing so it's already working but they're still saying so just for us to sink in we'll be good luck to you thank you thanks very much for being with us and just a reminder that my guest in the studio today was the aide to the russian president sarkozy got a point and that's it for now from all of us here if you want to have your sales spotlight just drop me a line we'll be back with more press than comments on what's going on in and outside russia until then stay on r.t. and take it personal.

we'll. bring you the latest in science and technology from. the future covering. more news today violence is once again flared up. these are the images seeing from the streets of canada. operations today. suicide rates among u.s. veterans returning from conflict to record levels post-traumatic stress and

government negligence all being blamed for driving them to desperation. denmark's defense ministry tends to close to establish its own troops abused prisoners in iraq the former intelligence officer. informants. the tigers which were once one of the world's mightiest predators on today fighting for their very existence and. nations to save them from extinction. in life in the heart of the russian capital you're watching out. it seems the impact of war on u.s. troops is far greater than the american government could.