she said that it should especially for just the stuff which you don't actually breaking. from the period you should take is that we give kuantan or a free will to see. the. you advance you live from moscow the headlines now as a colonel gadhafi struggles for a diplomatic solution the fight to control libya's oil rich coastline rages on and us though is now stepping back from its leading role in the allied coalition but some mideast experts and can use washington of trying to dominate the arab world. as the u.k. cause more cash into the libyan campaign that many at home are slammed the

government of a massive cuts in the public sector more and more people in britain say their democratic rights are being neglected. and three cosmonauts blast off to the international space station just days before the fiftieth anniversary of man's first journey to the stars spacecraft named after your current circle from baikonur cosmodrome just as the pioneer himself did back in one nine hundred sixty. next i'll going to talk to a prominent european banker about the debt challenges currently facing a leading economies spotlight it's not here arts. hello again oh welcome to spotlight the interview show on r.t. i'll bring our friends today my guest in the studio is franco naming the financial

crisis blow debt levels of the g seven countries to the post world's many experts believe that this time the way out for many of them is going to be harder than ever the major reasons are below it not the growth and aging population is there a tool to proof the economy to answer this question our guest is franco bus and the head of an european club are long term investments. we combine passive cash flows of the european economies are now overridden by debts already exceed to g.d.p. their own most or all means that help out the debts but many of them have sided incompatible with social stability brought them a solution as the best ways to boost the g.d.p. by attracting long term investments into infrastructure science research elton john energy sources and etc the best investors are countries with

a small state debt and high economic growth like china and russia. pelosi universe and any walk of the show thank you very much for being with us thank you well first of all i want to ask you about the public that crisis which i think remains a major problem for the e.u. countries what's your attitude to the new measures that the european countries european leaders have agreed upon on their recent summit in march. but i think that. the european union is on the right way. but the problem is that. in my view it's impossible to reduce. public pay. and to run

a true long fiscal consolidation. only with very severe. measures so far reducing the public expense bad a very severe man badgered policy is necessary. absolutely but we need also to accelerate growth to a new beginning the process of growth . without growth is very difficult. if fiscal consolidation so the big main issues ease how to finance. the growth the growth. rate where you answer that

very important investment he ne'er in the sector. such as infrastructure such as research innovation energy and environment and without the finance disinvestment when. they do feel to do it with their badge reserves but but many european countries they are undergoing major spending plans. these days this it mean that the european model are worth first state has failed i don't think they'd see it via levy the we could in europe. two to twelve eight really important reduction. of the rights and the killing of the services of the

so-called welfare state the political. politically brianna. do not do not. accept. it and the government will. lose in this case the the support of the of the of the population but we have to promote the fact to. a welfare state costing less. and if this is possible this is possible with the two main measures. a very a very strong in the way to use over new technologies of the information. knowledge use and second in the organization of the services of when

for sleep for instance a d the so-called. tailor made to seem to be the and services using the. internet using kids and the second days in the reduction of the welfare services for the a teacher who works for the the the parent of the population that came pay bad silva says there came a leg the other activities and also in the pension system to have a more important have to finance the by private do you think that the euro inflation may be a sort of the solution to the problem. i don't i don't think it will think i know there. mainly in the united states there are people there as important santas and

economists are there to think that. the best way to pull the fiscal consolidation is a very strong inflation yes that's that's why i'm asking that bad bad. strong information that the historical experience shows that the inflation has a very very severe consequences on the quality on public wealth or. on the growth so we think of a third the solution is not inflation personally you wrote high current reforms to liberalize markets boost competition and cut regulatory burdens are necessary but by themselves these reforms they have proven not to be able to achieve the desired results and of course can the crisis be overcome

without an active role of the government here have been a member of the government one so what would you say. here said i would be the member of the government backing quite difference is the situation a quite different c.c. now during the in the ninety's. in the ninety's said the need for italy was there. to realize a very strong fiscal consolidation and we succeeded in reducing the. deficit to two to two g. and p. e. ratio. from nine percent to two point comma two percent. we begin to reduce. also the most public data retail edict arrived was the time arrived to their one hundred twenty five percent point over g.

and p. and nine hundred ninety five and in two thousand it was reduced to one hundred eight sort of back this has been there in lies the with the very severe and rigorous hand and policy of the action of public expenses that back i was. with the stimulus search to the growth you represent the banking sector today do you think that the banking sector must be more strictly regulated by the government in order to avoid the bubbles the credit bubbles that. i think they could leave banks and say to the needs of the not regulation by the government my opinion is the needs a good intermission and regulation and independent

authorities says the national independent authority is or are a regional like european and independent thought it is. capable to apply these intermission and rules without the in the influence any intervention of the political of the government because we need independent legal data. that but i think that the rules that have been established i mean basil three corine out for the insurance sector and say listen to. all the international accounting standards. these rules are not the very good rules because they have been conceived. thinking.

only at the the division of the problem of the financial stability back financial stability require yes on sort of the fiscal consolidation and the exhibition of growth the connection really in not all connection financial stability is a condition for the growth if all the fiscal consolidation but growth and fiscal consolidation a condition for financial stability is the chicken and egg question so if the rules are thought only think into the financial stability and penalize and it nowadays they penalize the investment in long term investment needed for the growth of competitiveness for innovation and the result that cannot be a good result says franco bass and any had of the plan european club of want that

spotlight will be back shortly we'll take a break and continue to think of it in less than a minute sales stay where you are you girl. for the. human voice ceased to face with the news.

from the.

global economy. there's a report on our keep. walking back to spotlight i'm al green knob and just a reminder that my guest in the studio today is franco buster nini ad of the pan

european club of long term investors and a former minister in the italian cabinet. something that they many. countries are governed by right wing politician right wing parties are in power they are becoming increasingly unpopular and as far as i understand this is the case in italy for one you are a former minister in the left wing government and i guess you are you are still a left wing admirer i mean well you stand for the for the left rather than for the right in politics so can you tell us do the left have an alternative that they are ready to propose i mean in the economic policy for governing european countries will let's take a little you know in the infective italy the government now is an item popular but

the opposition. the center left opposition vx dreamlifter position and the center pollution. even worse is that even even even one so the then your problem is that now. the last. the last poll published. told us that only twenty three percent of ukrainian. he favorable to asian of the of the of the governing the italians don't want no government on him he would enter a clause yes this is you know is the true reason in my opinion the fact the details. have already been in favor of european. integration because the generally think there to

be governed by for a politician is always better than to be governed by the right partition this is this is a general then the telly and not chauvin they tend at very favorable to the foreign minister to foreign countries to foreign products to foreign experience which makes us very similar you know the italians and the russians laotians like the foreigners to even feel that russians feel that foreigners they probably they know better than us and the e.u. might remember the time when margaret thatcher was the prime minister of great britain many russians in the time said well after the end defer to term in office let's ask her to come to russia. to govern the learned this government. in italy happened but with with john kennedy and also. when. he was just been elected and. there was. a need to the

people. saying bet that we can not to realize that there isn't a union between a france and italy and some twenty the the the same in the same head of the government technical asked because he is perfect well why don't you try to write a bill putting. an effective had a gun but it's not. ok now don't you need me in any case. i was i was saying that the the the people favorable to the government in the last poll was only twenty three percent but the people having the good. judgment on the opposition was only fifty percent and even less even less so the problem may need to be but only literally is that. the modern democracy. a good government efficient government but

also a position having a tentative programs and. and the really good antenna to progress just waiting for their turn yes. ma you opinion is that the new rope the difference between. left the center left of the reformist left the moderate left and and and around i. backed the center right of the modern state saying right they that it has no more of a vaguely in power there's a word for both both for the welfare state the bad both sides of a division over the one for state both that are for the growth and for and for. and for rigorous budget policies. so the difference

not the baby v. part and this is this is the reason ok now i have another quote from you you wrote investment in strategic sectors like infrastructure is research and technological innovation environment alternative energy sort of thing while technologies could foster economic growth and enhance productivity and quote historically long term investment has always been a burden for the state of birgitte do you think that europe today italy today has enough money for long term investing into the way i think that. we have a lot of money in their word and also in it always prints more and also in europe and also in italy the kenyan families. when they can own all the families back.

part of money. power they've gone to use for consumption seeding for a rainy day saving series but yes. because of the person appears to be the chairman of castle opposed the place if he has. two hundred billion euro coming from family savings collected by the post office and then and we can use this money for a long term investment because these family used to keep their savings for long before long. knowing that these savings have a state guarantee state can't. back here have two thirds of this

two hundred billion euro now in liquidity putin the treasury of the of the state. what is the reason that isn't is there to my opinion a lot of rules. penalize the private investment in the. infrastructure in research so we need. new rules fiscal incentives. supervisory rules accounting rules more federal now they five or the short term financial investment in the interest of growth of. prosperity we have to change a nation or for difficulties simply far for instance obesity and national task but

for the supervisory rules for the a country blues is an international task to change in the saloon and so to permit it to attract private capital and also public capital coming from southern france from from emerging imagine economies suited to long term investment is little if any here were in moscow now and you are in the in the investment business in your opinion is very important for him for foreign investors what the russians want from you is well. i think investment or increasing last month or somehow stimulating investment into into russian economy into russian innovation projects what the russian government especially especially focused on what do you think there you can really boost investment into russian innovation projects when all and

yes are really higher and higher every day and then are forecasted to be up to one hundred fifty dollars. any time soon will and is anybody going to invest in anything except oil and gas in russia yes this is really really scary and they think they plan b d b he says. very strong attraction there now all we have read in these six sectors they came in and eyes are on can and between the probability to invest in another six but that. i think of a fact as. the conditions of investment. are others the first these political stability so for instance now in

the out of town trees of the mill you get india. and the the arab problem because if we invest. i don't know if in the future we would have put it into stability or not and the second the is the regulatory stability the third to ease it. and it regulatory framework favorable. to private investment feral to or project financing favorable to the p.p. to all private public pattering because as you know in many of these investment the it we need the it cooperation between public and private sector this is a the fiscal pressure not too high and

lee. here is. a good of an ability from the projects thank you thank you very much and just to remind you that my guest on the show was frank of bass and he had of the ten pm club of investors and that's it from our listeners life will be back with more full time comment about the going on in and out some question until then party thank you you. thank .

in india algy's available in the grand central shirts in mumbai the taj mahal in wrotham a bowling coach president combining to shoot a fabled frizzle for the amount of beatriz's public clothes are going to go on taj mahal hotel charges vientiane soon rush for town to lunch.