the e.u. agonizes over curbing its catastrophic debt and the looming bailout budget as other countries ones eager to join the blog have second thoughts. but how to stop such a crisis happening again major business in full italy ers are discussing that right now in st petersburg parties live at the international going on the forum as an repsol. syria faces third round of ease sanctions and more adel wins a government crackdown which saw the more than a dozen there and thousands raged nationwide.

forcing r.t. coming to live from moscow armory and joshua welcome to the program every award that's how greece's latest finance minister sums up the job ahead of him he's been tasked with securing another multi-billion euro bailout the criteria for which means slapping and outright hostile greek public with more sturdy cuts and some countries like turkey which once harbored dreams of membership are beginning to rethink their plans. 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 but not anymore turkey's attitude in short can be summed up very simply very glad going to probably. turks on the street seem to have a wide range of opinions on the euro but their country's doorstep europe's economy

is worse now turkey's is improving turkey is improving in all fields but europe is going backwards so we don't need them. to push people are using the year as an investment or earn money here is a more reliable and they're going to money because people don't want to save their money in the euro. if you invest in your rose 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 in making euro skeptic or euro fire to 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 that they can think the freedom of the labor the freedom of

service you know of service these are all integrated in others so it's not only scenes 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 irresponsible or inefficient with increasing tension in the movie economic mismanagement some for seed big problems ahead because army corp. based on

a single currency in europe. is. going to be history in the near future meaning that turkey will likely remain independent trader for some time to come turkey's markets are famous to tourists and traders alike taking that mercantile spirit to europe one seemed like a good idea but with all the riches here it's not in europe no longer seems like such a profitable move on r.t. istanbul turkey while the e.u. struggles to pull its members out of a destructive default spiral of countries which stuck to their own currencies are breathing a sigh of relief and that's a view from germany which has always been the chief proponent of the euro. those european nations that are not the europe will no be much stronger and much more is there the right thing when it didn't try to be or there's no way we can avoid the

fall it will have to be done. with it and by the european community everybody together if the greeks leave. that is like you know it's wrong to mine a medium major great ball into the system but if you want to be truly cool economically you know we can both be things like an economist i think is trying to suppress solution because. the answer oh. well you and once you can do that once your value you can retain your competitiveness on the international market this after all is the example of argentina which broke out of the monetary union with the u.s. dollar at the beginning or lost. and just of minutes of the highly qualified people destined for a low quality life china's boom produces more university graduates than it can cope

with turning out thousands of virtually worthless degrees every year also. this russian orthodox church charles wandered far from its home on showing promise in and hard to go and coming up on our city we explore the world the southern most russian orthodox church. but in st petersburg leading business and political figures have been thrashing out how best to avoid another fatal economic meltdown the last session of the economic forum has taken place in the city which has also been getting major firms to take another look at investing in russia and he said now easier for us hello to you any sort of form has rounded off now so what has been discussed in terms of global recovery there. will force the main topic out especially on global financing with european officials there's going to be the girl crisis a lot has to be aside from the two officials fiddlers presidents phrase prime minister

both stated that it's not a euro crisis that the separate countries in the euro zone are having crises and they kind of outlined that before we talk about the euro crisis or the currency being weak it's really as they see it the currency is very strong back could of course be too baited from the president of kazakhstan and president medvedev we've heard a little less optimistic things are probably euro saying that it could be expected that when so many different states get together and share one currency that eventually they're going to run into problems overall it has to be said at the session went pretty optimistically president has been pointing out that the economy is a lot like the weather here in st petersburg one day but on the first day of the form you have beautiful sunshine on the next day you have rain and that's how really experts in these officials are looking at the economy an optimistic that has been. actually they will somehow get out of that the main challenge though that europe the european union i should say and russia and countries like kazakhstan are facing

is not to allow the euro crisis to affect their trade and that's really what was the focus at this final session it has to be said as well though that the final question actually from the moderator wasn't in fact about money it was the question that was really on everyone's mind and would it come up before the end of the forum and that of course is whether or not president medvedev is going to run or salute the election he said that this was not the place again to announce something like that and that of course every story needs some kind of intrigue me ask his counterparts in the force the business figures that came to hold onto that intrigue just a little bit. one is just says in the previous year is this forum has attracted a lot of movers and shakers from around the world so how do russian and a visiting business leaders think it's gone this year. both so secret that president may fight for him as presidents and if you've run for reelection it will certainly be modernization that's what he opened this forum with and this is the

best place to really work in detail on projects like school which of course the plan to build a somewhat like silicone valley institute just outside moscow it's well under way for development a lot of c.e.o.'s and figures here for the three day summit in st petersburg from silicon valley we had eric schmidt from google and they're actually meeting with all of the officials from school by working side by side with them to make sure that this project moves and develops the sickly as possible so it's a great venue for the movers and shakers as we call them to really get together with these officials and in a very informal matter because that way they think that it should be to our. friends thanks very much indeed for bringing us the latest from the economic forum in st petersburg. and more from st petersburg in our business bulletin of course in about fifteen minutes time then later this hour a special edition of our tease on the money where appear lavelle talks to people at

form about what lies ahead for business in russia. the latest show of defiance against syria's president asad has seen at least another sixteen people killed this thousands of people protested in major cities urging him to get out the e.u. is lining up a third round of sanctions against syria as a comic and imposing them on companies meanwhile the united states has discussed what action in the region with russia has condemned the violence calling on both sides to engage in talks and says it will not support any u.n. resolution that may result in intervention but anti-war activist brian becker says that sanctions are only the first step towards a wider action. the you 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 are movements that call themselves do not receive. 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 principally 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. the middle east watchers have been telling r.t. that countries like the u.s. may talk of public protection concerns but actually has its eyes on

a different prize. all the local for exporting democracy and all that sort of preaching because 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 us is caught between wanting to be put at 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 islam in the streets or anything like what we are seeing there are really for freedom and democracy and. why it could have been if you like played a more consistent role in foreign policy hasn't done but is also a new sort of intervention there with. which is based purely on this desire for stability is to be counterproductive. still to come as broad obama gets sued for going into libya without asking congress we have people in new

york whether the words were. it's a waste of money to live with young people do you think it's maybe another reason that we're doing it was one reason only. that this is another takes on america's military motivations as gathered by the residents in a few minutes. countries may have enviously watched china surging growth but it has proven to be flawed and at least one area the rapid expansion of universities means cities are now awash with former students. forced into menial jobs and we morton reports on the rise of china's graduates ghettos. despite the global slowdown china's economy is booming and its cities are expanding at a seemingly unstoppable pace as people look to leave their poor rural backgrounds

behind in search of the chinese economic miracle and one of the largest groups of people currently moving into china's cities are university graduates like those from this campus in downtown beijing however many are arriving to find their degrees are virtually worthless and the streets are paved with anything but gold these graduates often end up living in the most basic and squalid of conditions and forced to do menial jobs sociologists have dubbed 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 formal workers' dormitory in the north of beijing washing and toilet facilities are shared and there is nowhere for them to cook but it's not just the ants that are suffering or forcing 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 no thought all i can find is unskilled part time work so i really feel like i'm letting them die on. part of the problem is that there are simply too many university graduates now entering the system and one thousand nine hundred eighty 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. at that 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 tribal areas that 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 and tribes and remorse and r.t. beijing. and if you miss something on air you can always watch it at your leisure at r.t. dot com we've got loads lined up for you online what to do with those university notes once you've finished college here's our russian students liberate their own library by making a trailer of textbooks and writing out of pamphlets. and an exhibition for a yacht inhibited the world's largest museum of erotic art opens its doors in moscow and it's open twenty four seventh's all the details grownups only please at our team dot com.

american lawmakers are suing barack obama for violating the constitution by going too far in libya they say use breached the time limit for mobilizing the military abroad without asking permission from congress argues roving reporter the residence to go to new york's sidewalks to hear what people there think of sending more troops into more countries problems. we're number one in the world are we here in the u.s. 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 so do it why is that so important to be number one has to be the house to be one of the one better be as we think of all. americans as being some kind of. world police you know you think about us stick

yes you don't think there's any altieri motive no none at all 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 waste the money and the lives of young people you know would you think this is maybe another reason that we're doing it of course one reason only zero or whatever reason i don't think it's logical i don't think it 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. again your priorities 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 the 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

spare. well let's bring you up to date on some other top stories this hour. the united states has been negotiating peace conditions with the taliban according to again a stance president hamid karzai added that the talks were going well though american officials have not confirmed they are taking place the taliban rule of ghana stands for five years until two thousand and one when they were ousted by nato forces taliban militants. small scale attacks and called police and suicide bombings to resist the current regime and nato troops. work on decontaminating water agile pan's fukushima nuclear plant has been hold good after radiation surged well above safe levels with ortiz are anxious that the water inside the damaged facility could spread further radiation into the environment while you want atomic energy agency report that's a pretty size you're banned for failing to put essential safety measures in place

in the wake of the disaster. more than half a million people have fled areas ravaged by severe floods in the youngs a river valley in central and southern china the military has been mobilized to help rescue efforts and the disaster alert has been raised to the highest level the heavy rains and flooding have already left one hundred five people dead and sixty five missing well the downpours it's going to continue for several days. when it comes to devout religious worship the russian orthodox church will go to the ends of the earth for its faithful flaw john thomas reports on a saintly side to the south pole. perched atop a picturesque a rocky hill overlooking the sea so it's a typical in a tiny russian orthodox church so this scene looks like it could be taken right out of a siberian picture book think again. the word this is important so far this is the

only antarctic station that has a russian orthodox church. the trinity church is the southernmost russian orthodox church on the planet and getting it was not an easy operation these. in two thousand and two they took 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's one talks since february 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 it's like walls and special chang's sometimes the rain here comes out as horizontally. so that the water is not just coming through the cracks but

also we can climb up for it to leak inside of us now 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 wood in a russian architectural tradition. more than just a popular tourist destination the building at. george island is the russian orthodox church and it's a fully functioning facility or even performing where matrimonial honors for those like me. and i keep here for a long stay sixteen months and i had no idea that. it was a church and rush i was not a frequent visitor at the church but here somehow i started to be good for less russia i promise if i wanted 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. but instead one or one of only two copies to get married here trinity making gay marriage a part of antarctica history in antarctica sean thomas. well we are almost up today no money talks with peter lavelle soon as he meets delegates in st petersburg which is where we had next door to his business bulletin. that's right day three it is of the st petersburg international economic forum where president dmitry medvedev has just wrapped up his keynote address here to the assembled crowd he shared the stage with spanish prime minister jose secretary of finnish president tardio holiday and kazakstan president of yourselves on those are by of talking about the common challenges that are facing the global economy facing the world and how to overcome them he called on all contraries to jointly handle

the challenges that are facing the global economy so that there are united efforts and policy that will help pull the global economy out from the deadlock and doldrums that it's currently in another to keep priority for russia he said in this case is to integrate more into the global economy and for better corporate partnerships and that's something that he has made a point that's been repeatedly made here at the conference talking about how the role of russian government should be to not stand in the way but rather to foster an environment and an ecosystem of growth and stability one that will help lure companies here and help them grow once they've established themselves doing things to battle corruption in the country and on investment by cutting back on regulations that would hinder economic growth. as part of that has a key place in this plan in turning it into a global financial center and it was

a focus of the third day of the forum here in moscow. russia's biggest city but also europe's biggest city said to grow even more the president outlined in vicious plan to start decentralizing certain companies and state owned organizations that are based in the center city center of moscow and move them out toward the outer. areas of the city in order to free up space and infrastructure in the city center for companies and businesses to set up shop there to reduce traffic congestion in the center which is a problem and something that is going to help free space for new investments and bring new business and therefore new up financial stability to the russian capital now i spoke with us and i suppose tangier from d.t.b. capital he believes the key is to create a good environment for investors to work in moscow. i believe one of the main challenges. what we've heard actually here in the forum as well is the lack of his

infrastructure the legal system. in russia i think in a sense what needs to be down these to make sure that there is this. big reason is for businesses to do business in moscow one thing was the government souls' this i think my school will become much of a financial center. but adding on to that jack are not from elbrus capital management says it is important to boost domestic capital and russia also. 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 it's such a tremendous lack of for domestic capital for the for the financial market being got a quick useful class and it got service rashi's very unique we've virtually no presence of noises from the sort of patient and mutual farms which would provide them

a stick of both to support the equity market and to provide liquidity for god and i think that's a very specific domestic problem go forward to help with chris you know that provides the background for success with creating a financial center. and as the forum is drawing to a close it's been a lot of business that's been conducted here more than two. million dollars worth has been committed to paper here at the conference among those deals phillips signed a memorandum of agreement with the russian atomic agency to establish an eco system for nuclear medical technology something very exciting that has been established here at the st petersburg forum ronald as john senior vice president of the looks so the collaboration is important and they hope that there will be a good result. in these partnerships we will not only work together in many factoring in the developing. he quit phones but that is the first time also in history that it's

a manufacturer will transfer intellectual property of knowledge in the license. to foreign company or in this case that skirmish. and as i had mentioned among the special guests here today spanish prime minister jose rodriguez zapatero in a meeting with president medvedev there was a signed contract worth some eight hundred million euros that is for the countries to jointly build new trains in developing the oil and gas in a russia russia and spain aiming to boost trade to about ten billion dollars a year big money there big business going on here in russia's northern capital and that's what we've got for now live at the state petersburg international economic forum. over the.