prices and a fresh round of bailouts in europe after shadow over the future of the eurozone forcing a rethink of nations who 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 way from more details. that you plans a third set of tougher sanctions against syria with some experts warning it could pave the way for a media style intervention. arab league future for chinese college graduates as an increase in university resources millions without jobs into wife and tripes.

this is actually coming to live from moscow three pm here in marina joshua welcome to the program greece's new finance minister is getting down to work by describing his job as a real war something underlined by the fact his appointment has already been met with protests and he's to convince angry greeks to face pressure stary cuts to secure more bailout billions from you are but poor countries like turkey have been trying to become part of the engine for years of financial woes are slowly weaker dissolve joined up as artist on board reports. is in talks about turkey in the e.u. ten years ago turkey's hopes of joining would have been inseparable from joining the euro not only more turkey's attitude in short can be summed up very simply

very glad going to part of the euro took on the streets seem to have a wide range of opinions on the euro but the country's doorstep europe's economy is worse now turkey's is improving so the key is improving in three months but europe is going backwards soon we don't delete them. turkish people are using the year as an investment to earn money here is a more reliable and circus money people don't want to save their money or. few invest neuros you get more than euros also stronger than dollars having said that i don't want to risk investing. because 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 factors that make euro skeptic or euro filed to public opinion analysts are keen to point out that further economic integration into europe

doesn't just mean money and that people should only think about their pocketbook economics they have that they can take out the freedom of movement of labor the freedom of service you know service these are all integrated in others so it's not only you know exchange 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 defend. 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 because i mean 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 one seems like a good idea but with all the riches here it's not so europe no longer seems like such a profitable move from boston r.t. istanbul turkey as the euro zone's debt burden shows little sign of abating e.u. members that decided to stick to their own national currencies are breathing a sigh of relief that's the view of the editor of german newspaper. well those european nations that are not be your will no be much firmer. because there's the

right thing. no way we can avoid a default it will have to be done. with it and by the european community who took over if the greeks leave. that is like you know it's drawing them on major major. into the system but of. completely economic you know going on because both these things like an economist i think is trying to suggest solutions because. once you know your travel. and once you can do that once your value you can retain your country if this of the international market does that after all it was the example of argentina which broke out of the monetary union with the u.s. dollar as the. overcoming the crisis in the euro zone will be discussed in st

petersburg as the international canonic forum and it's the last day president reed better is there and has matched the spanish prime minister and will hold talks with the finnish president later any sonali 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 so really such a wide range of issues being covered in what is called an economic forum that it really is global for you when you get down to it look at the real issues being discussed how 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 in the spanish and finnish leaders and they are 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 feiss temper trade between the e.u.

in 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 to looking out for the global market on the financial systems very different views on that and how that in the future do we deal with the global economy so that some of the questions that we will be looking at that session but i want to point out that in some of the other sessions which may seem loves 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 such an on the situation the focus is and how to unlock investment potential there so a lot of different issues being covered here in st petersburg on this final day. that he's now reporting there and there'll be plenty more on on this in our business bulletin of course in about twenty and about this minute time rather later today though

a special edition of our tease on the money were pure lavelle talks to people at the scene because before about what lies ahead for business and russia. at least sixteen more people have been killed in syria as mass protests continue the e.u. is planning a third round of sanctions against the regime of president assad over its deadly crackdown on demonstrations but anti-war activists brian becker says the sanctions are only the first step towards a wider intervention. the e.u. if it adopts 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 that call themselves democracy movements you take a reign there they're there 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 prince of lead by. france and the u.k. for regime change and i think they see this growing protest movement and the possible slippage of the country in the direction of civil war as an opportunity to overthrow what has been considered to be an independent government in syria. they only staff spirit and blogger karl sharrow told r.t. that america's policies in the region have shown its priority to be geopolitical interests rather and the interests of the public. all the talk of exporting democracy and all that sort of reaching the rest of the world i find is highly inconsistent and it's hypocritical and in the case of syria in particular i think the u.s. is caught between wanting to be at the same time 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 state or anything like that what we are seeing there are really as for freedom and democracy and the u.s. war could have been if you like played a more consistent role in foreign policy hasn't done. also any sort of intervention there were doing which is based purely on this desire for stability is bound to be counterproductive. amid fears of a looming u.s. military intervention in syria our team has been asking people on the streets of new york what they think about america's ongoing wars. you know there was an arab spring maybe america will have its own spring see a wide range of opinions in the residence which is coming your way later this hour also we have. this russian orthodox church has wandered far from its home i'm fine part of our pika coming up on r.t.

we have the world southern russian orthodox. china's double digit growth rate during the financial crisis has been and we are the world yet many chinese are still not reaping the rewards are the economic boom that includes the millions of graduates entering the workforce each year and they are becoming part of a phenomenon called and 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 their 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 are 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 told 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 for. 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 all i can find is unskilled part time work so i really feel like i'm letting them and i think 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 government began to seriously look at expanding higher education chinese universities were producing

eight hundred thirty thousand graduates a year in two thousand and ten that number was six million and it's still growing but let's hope that for exactly what on the one hand chinese universities are already in a weak state we lead in weaker with an over 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 and tribal areas the government is now looking to take action measures being discussed include limiting residence permits to skilled professionals and introducing electronic id cards for outsiders without a stable job however with the number of graduates entering the workforce sector continue rising there seems little hope in sight for china's own tribes and remorse and r.t. aging. well there's more on that story and all the news we're covering always

available at r.t. dot com and also find long opinion and usual video clips like this one. and unforgettable way to celebrate a university graduation a tip from russian students the seat of software when you put your textbooks inside the base of the party recommends you don't try this at home. and these new lands 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 are t. dot com. u.s. involvement and nato campaign in libya has just one day left before a ninety day limit on military action without congress approval runs out lawmakers are demanding president obama complies with the constitution so he's roving reporter the president hit the streets of new york to find out what people there think of a growing u.s. military presence around the world.

we're number one in the world and we give us the house to show the world we can still do it even though you're going to be some of the best we can have we can still do it why is that so important to be number one has to be the house of the one no one better be as we think about. the americans as being some kind of the world police you know you think about us dick yes you don't think there's any altieri motive. no oil interests no economic interest no no no no 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 that you think there's maybe another reason for doing it of course and one reason only or whatever reason i don't think it's logical out of the makes any sense a great thing there's a big disconnect between what people in government are thinking and what they think we want and what we're letting them know that we once. had maybe our priorities

just aren't the same 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 u.s. standing up against their government saying hey bring our troops home i'd like to think that one day that will happen you know there was an arab spring maybe america will have its own spring no matter how you feel about the imperialism of the united states the bottom line and let's face it it's not going to stop anytime soon. well now let's take a look at some of the stories from around the world in south korea and silverfish fired passenger jet after mistaking it for a north korean military plane it's reported they shot as an asiana airlines plane which has more than one hundred passengers on board the aircraft was undamaged it's the latest incident highlighting the ongoing tension on the border between the two koreas. to decontaminate water and japan's fukushima nuclear

plants have been hold good after a usual sort of safety limits its fear of the water inside the earthquake and tsunami damage still it could spread further radiation to the surrounding environment meanwhile international atomic agency report has criticised japan for failing to implement essential safety principles in the wake of the disaster. the u.s. and afghanistan have been holding peace talks with the taliban according to the afghan president america hasn't officially confirmed. if true it would mark the first open peace overtures since new or shall the taliban and years ago. now we continue our journey through the coldest continent on earth and. magic dealing with a fierce climate there leaves little time for religion but our t. showing thomas discovered that isn't the case during your visit to the planet southernmost russian orthodox church. so. perched atop a picturesque

a rocky hill overlooking the sea sits a typical end of tiny a russian orthodox church so this scene looks like it could be taken right out of a siberian picture book think again. at the world 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 here was not an easy operation. in two thousand and two they built the temple from the cedar tree and 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 monks each year given the extreme climate in which they operate they face extreme 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 walls and special chang's sometimes the rain here comes out as horizontally with the wind so that the water is not just coming through the cracks but also it can climb up which to leak inside. and out trinity church has become a sort of antarctica 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 good in a russian architectural tradition. more than just a popular tourist destination the building at. george island is a gem of the russian orthodox church. in infertility even performing where matrimonial honor is for those. i came here for a long stay sixteen months and i had no idea that the. it was a church in russia i was not

a frequent visitor to church but here somehow i started to be before i left russia i promise i planted it i'll bring her here i was not sure how but i promised that i would while savannah 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 at 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 the location is secondary but i like this church very much it is very comfortable and you feel very special here the russian federation in antarctica 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 the church and means of god the presence and i'm talking. a presence that they hope will last for generations to come in antarctica sean thomas. the aqua headlines in about ten minutes time but before that though we'll cross to st petersburg where that reza will update us on what's happening at the economic forum. that's right it is the third and final day of the st petersburg international economic forum and the main topic of discussion on the table today has been the announcement from president medvedev at the conference that he wants to expand the borders of moscow in order to move infrastructure out there and free up space in the center of the city for businesses in order to establish russia's capital in

europe's largest city has a major financial hub the idea is to move jobs away from the congested area in order to the center of the city in order to ease traffic which is notorious in downtown moscow and the problems associated with large employers there however to help with this this is also help with infrastructure in the city but there are other challenges that the city is facing according to one gentleman we spoke to from alberta's elbrus capital management. that would like to mediate the 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 such a tremendous lack of for domestic capital for the for the financial markets being got a quickie sold bonds then you've got sense russia is very unique we virtually no presence of noises from the sofa patron and mutual funds which would provide domestic up

hope to support the equity market and to provide liquidity for the and i think that's a very specific domestic problem that go forward to stop the dress you know the provide the background for success for the creating a financial center and it's it's extremely important i cannot. wait for size it because looking back row since ninety eight and now and two thousand and eight the crisis russia always stands with tremendous will to its you 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's you and i believe the major reason for the volatility he's got a lack of domestic dedicated staff so. and for more on this i'm joined by art and ask a staff. apologised what stands you have from c.t.v. capital i appreciate you joining us here on business r.t. thank you very much thank you now aside from a lack of domestic capital what other challenges it is russia facing in order to make moscow

a major financial. i don't think actually the issues domestic up do i think you have the names of the mystic up go in in russia so that's not the show i believe one of the main challenges. we've heard actually here in the forum as well was the lack of his infrastructure the legal system. in russia i think in essence what needs to be down this to make sure that there is even this. big reason is for businesses to do business in the last one thing once the government soldiers this i think school will become much of a financial center and merger of russia's two main stock exchanges is underway how do you think that's going to be received by business leaders and investors deafened the poles there for i think this is going to make the market more transparent it will bring liquidity as well so i definitely believe it's going to be a match with the support from my best source and international financially that i

think can be done to make russian financial markets and russian capital markets less volatile and dependent on external factors. i think what needs to be done these for the government although. we. promoting they strongly cover it to make sure that's true because on the east on the strong. or. that inflation is kept. under control we did and within. the targets of the central bank and once you have a strong economy and the inflation under control i think they feel capital markets will take a falls to the back window tailwind delta v. . and make sure that they opened as call it out also. improving that strengthening the naval system i think there's that as well in this proposed different target if you think of the key challenges for the russian financial institutions that are operating abroad. and that's that's something

that's that's what they have been face that should be with as we to be as well as you know we the. the strongest the. russian. champion investment banks still say we have very strong international growth and visions to grow to grow our presence in europe to grow or presence in asia as well and. we're facing all the challenges that the other big investment banks face even. when operating out of roles from their home markets right well thank you very much for your perspective on us this time here from fiji because i pushed. for it we have some other information to tell you about before we wrap up business here on r.g.p. the form is not quite finished yet but so far there been two billion dollars committed to paper in the course of this forum so there's a lot of business going on here a lot more to come on day three here of the forum among the deals phillips has

signed a memorandum of agreement with a russian atomic agency establishing an eco system for nuclear medical technology so that's an important development here's what ronald is your own senior vice president of philips had to say about the collaboration and what they hope will be the result. and that is partnership we will not only work together in many for killing in the fellah ping. equipment but this is the first time also in history that's a manufacturer will transfer intellectual property and knowledge from the license. to foreign company for investigation that scan us. and there's another deal that we need to tell you about russia in spain. they have signed deals more for about eight hundred million euro and among them the countries will jointly build new trains to develop oil and gas into russia russia and spain aiming to boost trade for about ten billion dollars a year so lots of big business going on in russia's northern capital stay with us throughout the day here on our t.v.

as we bring you the latest from the st petersburg international economic forum day three.