dead prices and a fresh round of bailouts and you were cast a shadow over the future of the euro zone forcing a rethink of nations that have been desperate to join up. the final day of the international economic forum here in st petersburg is well underway join me and you some now wait for more details. the e.u. plans a third set of tougher sanctions against syria with some experts warning it could pave the way for a libya style intervention. and a bleak future for chinese college graduates as an increase in university reversed forces millions without job and a wife and tribes. to

be a moscow you're watching r.c.m. right now joshua welcome to the program greece's new finance minister is getting down to work by describing his job as a real war something out of line by the fact he's appointment has already been met with protests and needs to convince angry greeks to face pressure sturdy cuts to secure more bailout billions from europe the foreign countries like turkey have been trying to become part of the e.u. for years the financial woes are slowly weakening their resolve to join up as arkenstone barking reports. if you talked about turkey in the e.u. ten years ago turkey's hopes of joining would have been inseparable from joining the euro and you also need me. to choose in short can be summed up there. he simply

very glad you're not part of the euro right now took on the streets seem to have a wide range of opinions on the euro but their country's doorstep europe's economy is worse now turkey says improving turkey is improving in all fields but europe is going backwards say we don't really know. people are using the euro is an investment to earn money here is a more reliable and focused money people don't want to save their money in the euro . invest neuros you get more than euros also stronger than dollars having said that i don't want to risk investing. but academics analyzing public opinion have found a common logic in decisions about the euro people polled don't care about wider economics but about their own personal finance its. economy is actually beyond the important factor make euro skeptic or euro fire public opinion analysts are keen to point out that further economic integration into europe

doesn't just mean money and that people shouldn't only think about their pocketbook economics they have to take into account the freedom of the moment of labor the freedom of service you know service these are all integrated in others so it's not only of money or turks living. thing. one thing everyone does agree on is the mess the eurozone is in whereas turkey's economy grew nine percent last year and over ten percent in the first quarter of this year europe especially southern europe has come to the point of catastrophe because of excessive borrowing greece has so far been the worst hit it sound others economic disasters have meant appeals for bailouts this makes it difficult for national governments to you friend. personally pouring more money into the coffers of responsible or inefficient members within creasing tension in the economic

mismanagement some for seed big problems ahead economy corporation. based on a single currency in europe. is. going to be history in the near future meaning that turkey will likely remain an independent trader for some time to come turkey's markets are famous to tourists and traders alike taking that mercantile spirit to europe what once seemed like a good idea but with all the riches here it's not so in europe no longer seems like such a profitable move tom barton r.t. istanbul turkey. as the euro zone's debt burden shows little sign of abating e.u. members there decided to stick to their own national currencies are breathing a sigh of relief as the view of you know severe fade editor a german newspaper at its height. those european nations that are not in the your.

are much more. there's the right thing. to be your there's no way we can avoid it before it will have to be done. with it and by the european community everybody together the greeks believe. that is like you know a stronger mind need your money just. into the system but if you want to be truly economic you know i don't want to feel like an economist i think there's a trust best solution because. once you know. the drill you and once you turn it up once your value you can regain your competitor with us on the international market does that after all is the example of argentina which broke out of the monetary union with the u.s. dollar at the beginning of. overcoming the crisis in the euro zone will be discussed in sync as work as the international going to form and there is its last

state president returning to get us there and has rapid spanish prime minister and will hold talks with the finnish president later and he's now he has more. lots of sessions planned for this final day as well as high level five lateral meetings the sessions go from internet privacy to global food security for really such a wide range of issues being covered in what is called an economic forum but it really is a mobile forum when you when you get down to it look at the real issues being discussed the most high level meeting today will be of course the final session there the panel consists of president medvedev along with his counterparts the presidents of kazakhstan and the spanish and finnish leaders and their the focus is going to be managing fault lines and avoiding future crises of course a lot of talk these days about the euro crisis and the main challenge there is how to not let the euro fry says temper trade between the e.u. and countries like russia and kazakhstan they're also going to be speaking about

the difference between the way emerging markets like the brics countries in the u.s. and the eurozone how those looking at the global market and the financial systems very different views on that and how then in the future do we deal with the global economy so that's some of the questions that we'll be looking at in that session but i want to point out that in some of the other sessions which may seem less high level there's no less important discussions taking place i was at a session about sport of course russia is hosting three of the world's biggest sporting events within the next decade that of course is unprecedented a lot of challenges there so that's important result was that on the situation in the fall season how to fall in lock investment potential there so a lot of different issues being covered here in st petersburg on this final day. there will be plenty more on this in our business bulletin at about fifteen minutes time and later today a special edition of our tease on the money work you know bill talks to people i've seen goods before about what lies ahead for business in russia. at least sixty more

people have been killed in syria as mass protests continue the planning a third round of sanctions against the regime of president assad over its deadly crackdown on demonstrations but anti-war activist brian becker says the sanctions are only the first step towards a wider intervention. the dobbs these new sanctions the third wave of sanctions there incrementally ask a lady in the u.s. and western european intervention into syria i think that we're going down the road as we went in libya where one step leads to another step they're climbing the escalation letter they have a very sort of selective concern for the lives of protesters and democracy movements or movements they call themselves democracy movements you take bahrain they're they're they're condoning the crackdown on peaceful protesters i think what's really happening is that syria syria has been targeted by the united states and also in principle lead by. france and the u.k.

for regime change and i think they see this growing protest movement in the possible slippage of the country in the direction of civil war as an opportunity to overthrow what has been considered to be independent government in syria. at least aspart and blogger karl shower authority that america's policies in the region have shown its priority to be political interests rather than the interests of the public. all the talk of exporting democracy and all that sort of preaching rest of the world i find is highly inconsistent and is hypocritical and in the case of syria in particular i think the u.s. is caught between wanting to be. mortified by what the alternative would be and syria which in my view is completely unjustified it's not necessarily going to turn into a fundamentalist islamic states or anything like what we are seeing there are really a spacious for freedom and democracy and. could have been if you

like played a more consistent role in foreign policy has and that is also a new sort of intervention there with. which is based purely on this desire for stability is to be. productive. and if there is a looming u.s. military intervention inferiority has been asking people what history to what they think about america's ongoing war. you know there was an arab spring maybe that america will have its own spring. see why the range of opinions in the residence which is coming your way later this hour and also here here in our teeth. this russian orthodox church and i wandered far from it online for. coming up on our do we explore the world. about. china's double digit growth rate during the financial crisis has been and beyond the world

and yet many chinese are still not reaping the rewards of the economic boom that includes the millions of graduates and are in the workforce each year now becoming part of a phenomenon called an tribes as henry morton explains. despite the global slowdown china's economy is booming and cities are expanding at a seemingly unstoppable pace as people look to leave the rule backgrounds behind in search of the chinese economic miracle and one of the largest groups of people currently moving into china cities are university graduates like those from this campus in downtown beijing however many are arriving to find their degrees of virtually worthless and that the streets are paved with anything but gold these graduates often ends up living in the most basic and squalid of conditions and forced to do menial jobs sociologists have taught them the tribes and there are

thought to be more than one hundred thousand living in beijing alone in june chin is one such and he shares a twenty square meter room with five other graduates in a former workers dormitory in the north of beijing and toilet facilities are shared and there is nowhere for them to cook but it's not just the ants that's suffering. my parents and sister went through a lot of hardship to save the money that put me through university i studied hard and did part time jobs to support myself and i thought well i can find is unskilled part time work so i really feel like i'm letting them in dying. part of the problem is that there are simply too many university graduates now entering the system in one thousand nine hundred eighty two when the governments began to seriously look at expanding higher education chinese universities were producing eight hundred thirty thousand graduates a year in two thousand and ten but number was six million and it's still growing

but let's hope that if we're that on the one hand chinese universities are already in a weak state we need in weaker within the rapid expansion so the education received by many of today's graduates has been very poor on the other we have a whole generation who are used to having everything done for them and cannot do anything for themselves he's going to give people like this work. with reports of rioting taking place in some tribal areas the government is now looking to take action measures being discussed include limiting residence permits to school professionals and introducing electronic id cards for outsiders without a stable job however with the number of graduates entering the workforce set to continue rising there seems little hope in sight for china's own tribes and remorse and r.t. beijing. well there's more on that story and all the news we're covering always deal with the dot com and also find blogs opinion and unusual video clips like this one. and also have a way to celebrate university graduate from

a tip from russian students to see the softer when you put your textbooks inside the faces and i keep recommends you don't try this at home. these new land for adults the world's largest museum of erotic art has opened its doors in moscow and it's open twenty four seventh's all the details. dot com. u.s. involvement in nato campaign in libya has just one day last before a ninety day limit on military action without congress' approval runs out lawmakers are demanding president obama complies with the constitution so if he's roving reporter the resident hit the streets of new york to find out what people there think of the growing u.s. military presence around the world. number one in the world that we can us in. the world we can still do it even though

you know the best we can we can still do it why is that so important to be number one has to be. the one number one better be as we think about. the americans as being some kind of the world police you know you think about. yes you don't think there's any algerian motive no no no no oil interests no economic interests no no i don't know what do we want to accomplish that. just the safety of the people to which the money and the lives of the young people you know did you think there's maybe another reason for doing it and one reason only zero or whatever the reason i don't think it's logical i don't think it makes any sense but i think there's a big disconnect between what governor. are thinking and what do you think we were and what we're letting them know that we once. knew your priorities. so you have all these countries in the middle east where the people are standing up against their government why aren't people in the us standing up against their government

saying hey we're going to troops home i don't think that one day that will happen you know there was an arab spring we did america will have its own spring no matter how you feel about the imperialism of the united states the bottom line is let's face it it's not going to stop anytime soon. what an r.t. let's not take a look at some other stories from around the world south korean soldiers have fired at the passenger jet after mistaking it for a north korean military plane it's reported they shot at an asiana airlines plane which have more than one hundred passengers on board the aircraft was undamaged though it's the latest incident highlighting young going tension on the border between the two koreas. tam's to decontaminate water at japan's fukushima nuclear plant have been holding after radiation levels soared above safety limits its fear the water inside the earthquake and tsunami damage

facility could spread further radiation into the surrounding environment meanwhile an international atomic agency report has criticised japan for failing to implement essential safety principles in the wake of the disaster. previous prime minister says he's government has telecom with rebel something to die he also accused. violence in the country and that fresh air raids which saw the reports of five explosions in tripoli thousands of her own cut off his supporters have staged a rally in the capital believed to be one of the biggest since the military operation began. now we continue our journey to the pole of this continent on earth antarctica imagine to dealing with the fears quiet of their lives a little time for religion but our teams john thomas discovered that isn't the case during a visit to the planet southernmost russian orthodox church. so. perched atop a picturesque a rocky hill overlooking the sea so it's

a typical end of tiny russian orthodox church though this scene looks like it could be taken right out of a siberian picture book think again. at the words this is important so far this is the only antarctic station that has a russian orthodox church. in fact the trinity church is the southernmost russian orthodox church on the planet and getting it you was not an easy operation with these. in two thousand and two they built a temple from the cedar tree in altai the church was built and it sat there for a while until the end of two thousand and three they numbered all the parts every beam was disassembled and they transported it to kaliningrad from there it was shipped all the way here to antarctica since feb fifteenth two thousand and four the church has been officially up and running with the orthodox church providing a staff of two specially trained months each year but given the extreme climate in which they operate let's face it stream challenges as well. because the conditions in antarctica are unusual with strong winds we need to hold back the power of the

wind with such strong tight walls and special chang's sometimes the rain here comes out as horizontally with the wind so that water is not just coming through the cracks but also we comply muppets' to leak inside. now the trinity church has become a sort of and article landmark even becoming somewhat of a tourist destination for v.i.p.'s and diplomats. no matter who visits this church they always say it's beautiful it's a remarkable church made out of wood in a russian architectural tradition. more than just a popular tourist destination the building at belize thousands gratian on can we throw island is a gem of the russian orthodox church and it's a fully functioning for thirty or even performing rare matrimonial honors for those . where. i came here for a long stay sixteen months and i had no idea that. it was a church and russia i was not a frequent visitor to church but here somehow i started to be before i left russia

i promise atlanta that i'll bring her here i was not sure how but i promised that i would whilst atlanta was still in russia i got the idea why not have our wedding in this church. one of only two couples to have been married here trinity making their marriage a part of antarctic history. it's a very good feeling but in reality you don't think that you belong to some exclusive circle because for me at least the most important thing is the marriage itself and don't cation is secondary but i like this church very much it is very comfortable and you feel very special here the russian tradition in one's article goes back to the very discovery of the continent and according to the russian orthodoxy it is only fitting that there is an official testament to that history. this church just by its presence speaks volumes for every person not just russian but even for foreigners the presence of a church and means

a godly presence and i'm talking about. a presence that they hope will last for generations to come in antarctica shawn thomas. and i were joined by a match rather to continue our coverage of the same pittsburgh international economic forum. the sun does not set on the st petersburg international economic forum but today is day three and that means it's the last day to get all the business done and all the speakers spoken and all the deals side here in russia's northern capital now the focus of the afternoon has been talking about moscow as a financial hub it is europe's largest city and definitely something that has the potential to be a big deal in a big deal player any international financial game the idea is to move jobs away from the congestion center of the city move them towards the outskirts of the city

in order to free up infrastructure and space for private capital to move in and for the establishment of new business in russia and this is something that president medvedev outlined in a keynote address that he gave here at the conference something that is going to help ease traffic congestion and bring more working professionals into this since the center of the city and towards the new moscow city area that will be helping to spur growth and development and hopefully innovation in russia in the years to come over this city is facing in many many changes as we've heard from one of the gentlemen that we interviewed earlier today that we don't see particularly you see i would like to immediately points to. one weakness of the russian financial system which has to be addressed and it's very unique looking. from a global perspective no other major economy in the world house such a tremendous lack of the most capital for the. financial markets being got

a quick useful bonds then you've got sense russia is very unique we virtually no presence annoyed system so for patient and mutual farms which would provide the most to capital to support the equity market and to provide liquidity for the and i think that's a very specific domestic problem the go forward yourself to grow as you know the provide the background for successfully creating a financial center and it's. it's extremely important i cannot. wait for size it because looking back since ninety eight and now two thousand and eight the crisis russia always stands with tremendous volatility which scares away of us this and makes it very difficult to sell russia as an investment case purely because of the voyage to it you and i believe the major reason for the volatility he's got a lack of domestic dedicated capital. for more perspective on this i'm joined by david gray managing partner for russia from pricewaterhouse coopers

thanks very much for joining me so do you agree that a lack of domestic capital is a major problem for russia's financial development i think the fact that so little of the capital the rusher is generating is actually being reinvested in the country is a issue capital is a global commodity and it will flow to wherever it sees the highest most secure with and so yes there is an issue for us which is we need to attract more capital to be invested in the country a lot of that capital comes from domestic sources unfortunately it's leaking out of the system at the moment which is holding us back in terms of oh so president medvedev says the payroll tax is set to be lowered next year this after a hike in january getting this will boost business what effect you think that will have clearly any reduction in taxes for business is a positive it means businesses have more free cash that they can reinvest in growing their businesses so yes i think it's a positive thing it's helpful if we have clarity going forward around where taxes

are going so businesses can plan ahead of times but any reduction is always positive and the president also said that the establishment of large private businesses for the development of small and medium sized businesses surrounding them a kind of a knock on effect what's your take on that absolutely i think from our perspective one of the areas that we're looking at working very closely with is the small and medium sized enterprises these can be a big driver of innovation and jobs in the crown of me and so this is an area where i think we hope to see a lot of progress in russia and finally what do you think it will take to continue spurring russia on economically that's a very big question and i think mr president when he was talking about the issues that he identified there was a number of issues so it's a very broad question rule of law results the importance encouraging people to have a longer term vision about invest. and in russia is very important tackling some of the key domestic issues in terms of education reform and all there is all these

things that unfolds all right thank you very much for joining us here on our t.v. business close up but we have some other news to tell you about before you wrap up the business segment the forum is not quite finished yet there are many deals that are being put into place already been two billion dollars in fact with the deals put to paper here at this in petersburg international economic forum among them philips has signed a memorandum of agreement with the russian atomic agency to establish an eco system of for nuclear medicine so that's something that's an exciting deal and also ronald jiang senior vice president of philips had to say much about their collaboration and the hopes of what will come from it. under these partnerships we will not only work together in many factoring in the developing. quickens but that is the first time also in history that's a many will transfer intellectual property and knowledge in the license. to foreign company for investigation that scan us. and there are many more deals to

come even though with the last day we've still got a few hours to go so that means more news to tell you about the spanish prime minister jose zapatero has announced a number of deals on an eight hundred million euro to be signed between russia and spain prime minister zapatero is as we speak giving his address to before and so that's something that will tell you more about in the next hour and this includes cooperation in the development of railway transport and car components so more on that coming your way stay with us throughout the day here on our t.v. business.

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seventy six hours of intense fighting. six thousand desert of beach front field 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 a very most appropriate city signification a symbol of everything that's wrong with our goddamn government. allowing narrow my garbage but to accumulate where so many guys died. a new battle is going on. will the history be protected. return to.