but europe is going backwards so we don't need them. people are using the euro as an investment to earn money here is a more reliable and turkish money people don't want to save their money in the euro . few invest in euros 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 finances so much economy is actually beyond the important factors that make euro skeptic or euro file public opinion analysts a 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 movement of labor the freedom of service you know woman service these are all integrated any other so it's not only exchange

of money or turks leaving. your role 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 members within creasing tension in the economic mismanagement some forsee 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 an independent trader to 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 and not in europe no longer seems like such a profitable move tom barton r.t. istanbul turkey. while the e.u. struggles to pull its members out of a destructive default spiral the 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. european nations that are not the your will no be much firmer much more. the right thing whether they join me or there's no way we can avoid a default it will have to be done orderly fashion that is with the european community everybody together if the greeks leave. that is like

you know it's wrong their mind. way into the system but if you want to be totally cool economically and you know. the things like an economist i think this proves the best solution because. once you know your value and once you can do that once your value you can retain your competitiveness on 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 be. and in just a few minutes the highly qualified people destined for a lower quality lie china's boom produces more university graduates than i can cope with turning out thousands of virtually worthless degrees every year. in same boat as work leading business and political figures happen thrashing out

how best to avoid another fatal economic meltdown the last action of economic forum has taken place in the city which has also been getting major firms to take a fresh look at investing in russia has been there for us. full force the main topic at a session on global financing with european officials there's going to be the euro crisis a lot has to be aside from the two officials finland's presidents face prime minister both stated that it's not a euro crisis that the separate countries in the eurozone are having crises and they kind of outlined that because 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 faded from the president of kazakhstan and president medvedev we've heard a little less optimistic things about the 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 of the

session went pretty optimistically president medvedev 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 and on the next day you have rain and that's how it really acts for us and these officials are looking at the economy and optimistic that eventually 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 made to is going to run for reelection here is what he said. but i wouldn't put it when i consider it appropriate to tell you whether i will do it or not i will come out and say it this

forum is not the best place for that one thing you can be sure of is that i would be able to avoid making that statement i will have to tell the people of russia and anyone else who's interested about my decision so secret that president medvedev may want for him as president and if you're wrong. reelection 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 spoke about which was the plan to build a somewhat like silicone valley institute just outside moscow it's well underway in terms of 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 the scope of my working side by side with them to make sure that this project moves and develops the sibley 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 proves that the way they think that it should be done. and is now reporting there from saying it is work and more from st petersburg an hour of business bulletin in about fifteen minutes time and in the next hour a special edition of r.t.s. on the money work peter lavelle talks to people at the form about what lies ahead for business in russia and on the way here in our team how to get a facelift in the frost. this russian orthodox church has wandered far from its home on john thomas in the go and coming up on our t.v. we explore the world southern most russian orthodox church. the latest show of defiance against syria's president assad has seen at least another sixteen people killed as thousands of people protested in major cities urging him to go that use lining up a third round of sanctions likely to target companies dealing in syria's economy meanwhile the united states has discussed u.n. action in the region with russia moscow 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 activists brian becker says that sanctions are only the first step towards of wider action. the if it adopts these new sanctions the third wave of sanctions they're incrementally escalating the u.s. and western european intervention into syria i think that we're going down the road as we when 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 principle e by 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 middle east watchers have been telling r.t. that the u.s. made public protection concerns but actually has its eyes on a different prize. 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 active but 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 islamic state or anything like that what we are seeing there are really for freedom and democracy and. 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. still to come as barack obama gets sued for of going into libya without asking congress we asked people in new york whether the war is worth it. to waste their money and the lives of the young people there do you think there's maybe another reason that we're doing it one reason only whatever the reason this and other takes on america's military motivations is gathered by the residents in a few minutes. many may have and we asli watched china's surging growth but it has proven to be flawed in at least one area the rabbit expansion of universities means cities are now wash with former students and employment scrap here or forced

into menial jobs heavy morton reports on the rise of china's gradual ghettos. 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 of furtively worthless and that 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 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 washing and toilet facilities are shared and there is nowhere for them to cook but it's not just the ants that are suffering. my parents and sister went through a lot of hardship to save the money that me through university i studied hard and did part time jobs to support myself when i thought all i can find is unskilled part time work so i really feel like i'm letting them in. 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 that 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. on the one hand surely as universities were already in a weak state we made them weaker with an over rapid expansion so the education

received by many of today's graduates has been very poor it's really on the other we have a whole generation who are used to having everything going for them who cannot do think for themselves he's going to give people like this work. with reports of rioting taking place in some 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 set to continue rising there seems little hope in sight for china's and tribes and remorse and r.t. beijing better how to live from moscow and if you miss something on air you can always watch it at your leisure add we've got loads lined up for you there were by kindergarten a four year old boy wins a lawsuit against the circus for not putting on a show it promised. an american porn cake and says there is always room for wheeler and makes an offer to the sexting scandal politician.

american lawmakers are suing barack obama for violating the constitution by going too far in libya they say he has breached the time limit for mobilizing the military abroad without asking permission from congress artie's roving reporter the resident took to new york sidewalks to hear what people there think of sending more troops into more countries problems. we're number one in the world or we can us a 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 would be one number one better be as we think about. the

americans as being some kind of. world police you know even get out through a 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 them. just the safety of the people to which the money and the lives of the young people you know did you think this is maybe another reason that we're doing it of course 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 people in government are thinking and what they think we want and what we're letting them know that we once. maybe our 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 don't think that one day that will happen you know there was an arab spring maybe that 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 that it's not going to stop anytime soon. a so-called lever torrie of death has been destroyed in a special operation in russia. north caucasus republic of dagestan around a dozen powerful homemade bombs were discovered in the underground compound that was hidden in a forest officials say the raid prevented terror acts across the republic and has saved many lives all the bombs have been destroyed a number of cell phones were also found which could have trigger explosions the operation came about after a terror suspect was arrested in the same area let's take a look at some other stories from around the world sectarian clashes in northern lebanon have killed seven people including a fourteen year old the government deployed army troops in the city of tripoli to prevent the violence from ask waiting between sunni and a law well with muslims they clashed after

a protest over the rule of president asad in neighboring syria lebanese a sunni are strongly against the regime there while the al with minority support who belongs to of the denomination. work on decontaminating water as japan's fukushima nuclear plant has been holding after radiation surged well above safe levels of the worries are anxious that the water inside the damaged facility could spread further radiation into the environment meanwhile a u.n. atomic energy agency report has criticized japan for failing to put central 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 younes 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 they have the rains and flooding have already left one hundred five people dead and

sixty five missing downpours expected 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 flock sean thomas reports on the seine saintly side to the south pole. so. perched atop a picture ask a rocky hill overlooking the sea so it's a typical and a tiny russian orthodox church so 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 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 but 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 strong tight 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 we can climb up foot to leak inside. 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 boudin a russian architectural tradition. more than just a popular tourist destination the building station on george island is

a russian orthodox church and it's a fully functioning facility even performing rare matrimonial honors for those. missiles and. 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 at the end of it 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. in scotland or one of only two couples to have been married here at trinity making their marriage a part of antarctic history in antarctica sean thomas. well let's get down to business now and join mare treasure who is at the same boat as burke at a national economic forum. that's

right these are the days when the sun doesn't set on russia's northern cop at all but it is going down on russia's on the st petersburg international economic forum or president dmitry medvedev capped off the entire event with a address during a panel discussion that he shared with the presidents of finland the prime minister of spain and the president of kazakhstan where they discuss the challenges facing the global economy the russian president called on all countries to jointly handle challenges facing the global financial system and he said united efforts and policy will help pull countries out of the deadlock and the doldrums that are facing the global financial system he said a key priority for russia in this case is to integrate more with other countries in the global economy and foster better cooperation with all of them and part of that a keystone of all that he believes is the establishment of moscow europe's largest

city as a major financial hub for the global financial system europe is looking toward is looking toward those he believes and he believes that moscow is uniquely positioned to provide that service he's proposed in this case to expand moscow's borders currently seeking to move the jobs of large institutions out towards the outskirts of the city and bring those outskirts of the city not currently incorporated as part of the city system in order to free up space in the city center and downtown for new business to go when there are more private business to bring more capital and to free up congested space in the congested downtown order to bring more economic growth to moscow and really establish what is as i've said europe's largest city as a major financial hub not just a regional one we talk more about this with. from the t.v. capital who believes that it is a key thing. to create a good environment for international work in the city center of moscow. i believe

one of the main challenges. was we've heard that actually here in the forum as well as the lack of his infrastructure the legal system. in the russia i think the innocence of these stupid is to make sure that there is ease in this. gaze and this business is to do business in moscow one thing once the government souls this i think school will become much of a financial center. but jack are not from elbrus capital management believes it's also important to boost domestic capital in russia so 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 such a tremendous lack of the domestic capital flows of financial markets being got a quick piece of old bonds they need that sense russia is very unique we virtually

no present some noises to the sofa patient and mutual funds which would provide them a stickup pool to support the equity markets and to provide liquidity for the and i think that's a very specific domestic problem the authorities have to press you know the provide the background for success for the creating a financial center of this meeting often being called russia's answer to davos the st petersburg international economic forum of course had a lot of big business that went along with it a part of that fifty contracts having been cited amounted to some seven billion dollars worth of work that was accomplished here among the deals phillips signed a memorandum of agreement with the russian atomic agency to establish an eco system for nuclear medical research here in the country so that's an important point also as i had mentioned spanish prime minister is up to taro in petersburg for our work on the conference and russia and spain work. on contracts that were worth some

eight hundred million euros when they put pen to paper here in st petersburg here in russia so that's new business and investment trailways a good thing for the leadership here russia and spain a mean business coming out of out of the st petersburg international economic forum on day three of the gathering and that's the business news here on r t stay with us headlines up next.

one stream cascading from mountain slopes the view is mesmerizing. but this beauty brings death at a speed of more than two hundred kilometers per hour on. stepping down along. more than a month. in one of the most extreme environments on the planet this is antarctica and people have to be aware that they're far away from civilization sean thomas discovers foot make sounds articles so special and attractive for many the wildlife in antarctica is a both and a frontal. expedition to the bottom of the earth artsy.

fifty. five. if you. are good you take three days for free. three. three stooges free. food free board video for your media projects a free radio dog our t.v. dot com. welcome back here with our team here's a look at the top stories the new agonizes over curbing its catastrophic debt

ballooning budget as other countries once eager to join the blog have second thoughts. but how to stop a global crisis happening again major business and political leaders have discussed just that at the international going to make forum which has a brac in st petersburg. syria faces third round of sanctions amid more deadly anti-government crackdowns we're saw more than a dozen dead and thousands rage nationwide. so we have lines here in our teaneck star interview show spotlight talks of the project leader the south stream gas pipeline marcel kramer about what the new routes could mean for supplies to europe . hello again and welcome to spotlight the end to be cheryl on our t.v.

i'm not good enough and today my guest is marcel grammer russia isn't the first thing is hard into the south stream pipeline a direct and abandoned gas shipping route to you but as the project is gaining momentum there's criticism in some quarters that south stream is unprofitable then has no future one do the project leaders have to say today here's the c.e.o. of the south stream marcel primer joining us from st peter's world economic forum. after the gas will be.