in the iraqi. 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 fire the 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 women of service these are all integrated any other so it's not only you know exchange of money or turks turkish new living. thing you're all 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 you are economic mismanagement some for c. 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 for some time to come turkey's markets are famous to tourists and traders alike taking

that mercantile spirit to europe but one seems like a good idea but with all the riches here and not in europe you no longer seems like such a profitable move tom barton r.t. istanbul turkey well while the e.u. struggles to pull its members out of a destructive default spiral the country's rich stuck to their own currencies are breathing a sigh of relief and that's a view from germany too which has always been the chief proponent of the euro. those european nations that are not the you're well no be much stronger much more convinced there's the right thing when it didn't trouble your so there's no way we can avoid a default it will have to be done. with by the european community everybody together if the greeks leave. that is like you know a lot stronger mind you know medium region of weight into the system but if you want to be truly economic you know about the things like an economist

i think that's true the best solution because. once you know you you draw you 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 that's the beauty of the us that could. come up in a few minutes on the program the highly qualified people destined for a low quality like china produces more university graduates than it can cope with churning out thousands of virtually worthless degrees every year as we report. full out though in some papers but leading business and political figures have been thrashing out our best to avoid another fatal economic meltdown the last session of economic forms taking place in the city which is also getting major firms to take a fresh look at investing in russia and he's in this in our he's been there for us

. of course the main topic at a session on global financing with european officials there is 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 of the currency being weak it's really as they see it the currency is very strong that 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 on the next day you have rain and that's how it really

acts for us in these officials are looking at the economy and optimistic that eventually they will somehow get out of that the main challenge so that you're up 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 for reelection here is what. we should. but 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 both so secret that president medvedev may want for him as president and if you're wrong. real action 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 what's the plan to build someone like silicon valley institute just outside moscow it's well underway in terms of development a lot of c.e.o.'s of figures here for the three day summit in st petersburg from silicon valley we had eric schmidt. and they're actually meeting with all of the officials from the scope of my working signed by fine with them to make sure that this project moves and develop the be 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 manner proves that the way they think that it should be done. was a piece bergen our own business boards in about fifty minutes time and later this hour indeed as well a special edition of our team is on the money program for you. people the form of

what lies ahead they think for business here in russia. now on the way as well how to get a face lift in the frost. this russian orthodox church has wandered far from its home on sean thomas in and to go and coming up on our tour we explore the world of the southern most the russian orthodox church. the latest show to find seguin syria's president assad has seen at least another sixteen people killed as thousands of people protested in major cities urging him to go the use lighting up a third round of sanctions now too likely to target companies dealing in syria's economy meanwhile the united states has discussed you and action in the region with russia moscow's 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 antiwar activists brought back and told us that sanctions are only the first step towards a y. direction well the e.u. if it adopts these new sanctions the third wave of sanctions there in. mentally ask

a lady in 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 there climbing the escalation lehner they have a very sort of selective concern for the lives of protesters and democracy movements are movements that 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 principally by sea 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 mid-east watches have been telling us that are say that the u.s. may talk of public protection concerns but actually it's in

a different. ball the talk of exporting democracy and all that sort of preaching 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 active but at same time mortified by what the alternative would be in syria which in my view is completely unjustified it's not necessarily going to turn into a fundamentalist islamic states or anything like that 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 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 going into libya without asking congress we asked people in new york whether the war is worth it. to waste the money and in the lives of the young people you know did you think this is maybe another reason that we're doing it last one reason all your reason. that another takes that america's military motivations as gathered by the president in just a few minutes time. many may have enviously watched china's surging growth but it's proven to be flawed in at least one area the rapid expansion of universities mean cities are now wash with former students on the employment scrap people forced into menial jobs and morton reports on the rise of china as a graduate 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 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 of furtively 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 ant tribes and there are thought to be more than one hundred thousand living in beijing alone in june chine is one such ant 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 for my parents and sister went through a lot of hardship to see of the money that put me through university i studied hard and did part time jobs to support myself now though all i can find is unskilled

part time work so i really feel like i'm letting them down. 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 chinese universities are already in a weak state we need them 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 going for them you cannot do think 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 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 just quick right of course if you missed something on air you can always watch it at your leisure at our we've got loads lined up for you there as always tonight in fact caught by kindergarten what's the story well a four year old boy has won a lawsuit against a circus that he fought didn't put on a good enough show it's an article on tonight. that american porn tycoon says there's always room for and makes an offer to the sexting scandal politician but outing dot com. fifty. five.

trinity has offered one of its islands as a venue for possible talks between the libyan opposition and embattled leader colonel gadhafi but any negotiations will only go ahead if there overseen by the african union and russia according to the kremlin special envoy to the area he says the rebel sing russia is a crucial partner in mediating the conflicts while growing ever more skeptical of western involvement and president obama's actions in libya have earned him a lawsuit at home too he's been accused of violating the constitution leading politicians say he's breached the time limit for military action abroad without permission from congress. or the resident took to new york sidewalks to hear what people where think i'm sending more troops into more countries problem. number one in the world to show the world we can still do it even though you're going to be the best we can have we can still do it why is that so important to be number one has to be he has to be one of the one better be as we think about. the

americans as being some kind of. world police you know even get out your stick yes you don't think there's any altieri motive. no oil interest no economic interest 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 did you think this is maybe another reason that we're doing it of course one reason only reason i don't think it's logical i don't think it makes any sense 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. 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 are 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 at the united states the bottom line is let's be fair it's not going to die anytime soon. the so-called aborad tree of deaths being destroyed in a special operation of russia's north caucasus republic of dagestan and around a dozen powerful homemade bombs were discovered in the underground compound it was said in a forest official said the raid prevented terrorists across the republican it saved many lives all the bombs have been destroyed a number of cell phones were also found which could have been used to trigger explosions the operation came about the terror suspect was arrested in the same manner it also the news tonight sectarian clashes in northern lebanon have killed seven people including a fourteen year old the government deployed army troops in the city to prevent violence masquerading between sunni and alawite muslims they'd clashed after protests over the rule of president assad in neighboring syria lebanese sunni are

strongly against the regime there while the other white minority supporter sad belongs to the nomination. work on contaminated water at japan's fukushima nuclear plants be halted after radiation surged well above safe levels authorities are anxious that the water inside the damage facility could spread further radiation into the environment meanwhile the u.n. atomic energy agency report criticized and failing to put essential safety measures in place in the wake of the disaster. more than half a million people fled areas ravaged by severe floods in the yangtze river valley in central and southern china the military has been mobilized to help rescue efforts now and the disaster alerts been raised to the highest possible level the heavy rains and flooding of already left one hundred five people dead and sixty five missing the downpours expected to continue. when it comes to devout religious worship the russian orthodox church will go to the ends of the earth for its faithful flock r.t.

shaun thomas reports next on the saintly side to the south pole. perched atop a picture ask a rocky hill overlooking the scene so it's a typical and a 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 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 is coming through the cracks but also we can climb on 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 good in a russian architectural tradition. more than just a popular tourist destination the building station on king george island is an 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 there was. the church in russia i was not a frequent visitor to church but here somehow i started to be before i left russia i promised 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. not in scotland or one of only two couples to have get married here trinity making their marriage a part of antarctic history in antarctica sean thomas. now is fighting times in pittsburgh this weekend in a few minutes we get the lowdown on how to boost russia's investment climate the first what is the highlights of the economic forum there. 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 in 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'll 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

in a sense what needs to be down there is to make sure that there is easy nice. big a's in this whole business is to do business in moscow one thing was 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 it's such a tremendous lack of the domestic capital flows of financial markets being got a quick useful bonds and in that sense russia is very unique we virtually no presence on the existence of patient and mutual farms which would provide the most a couple to support the equity market and to provide liquidity for the and i think

that's a very specific domestic problem the go forward just have to address you know the provide the background for success with creating a financial sense to 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 about it just 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 zapatero in st petersburg for our work on the conference and russia in spain. working on contracts that were worth some eight hundred million euros when they put pen to paper here in st petersburg among them the countries will jointly build new trains and they are working to develop oil and gas here in russia so that's new business and investment coming into the country

always a good thing for the leadership here russia and spain aiming to boost trade to about ten billion dollars a year or so a lot of big 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 our t.v. stay with us headlines up next.

movie. seventy six hours of intense fighting. six thousand dead at a beach front battlefields several kilometers long. and now there is only one

person who cares. to see we are surrounded by grabbers everywhere but also there are. on this beach which of course is very most appropriate signification a symbol of everything that's wrong with our goddamn government allowing not only garbage but to accumulate where so many guys died. a new battle is going on. will the history be protected. return to terra with julian cooper story on our t.v. .

hello started from moscow is kevin owen here with me with a headline updated half past eight pm this saturday evening the overcoming his catastrophic debts and ballooning bail out budget as other countries once eager to join the bloc have second full stop. but how to stop a global crisis happening again major business and political leaders have discussed just that at the international economic forum that's wrapped up in st petersburg where we're heading testament as well in fact. and syria faces a third round of e.u. sanctions amid more deadly antigovernment crackdowns which saw more than a dozen dead and thousands raged nationwide. so that as promised up next we head back to some petersburg where people have been quizzing delegates at the forum about boosting the investment in russia.

hello and welcome to on the money with the business of russia business. today we're broadcasting from the st petersburg international economic forum and we're talking about branding. to discuss branding i'm joined by robert sasson he is senior managing director at u.f.c. private equity also we have. the board of the retail chain. and robert may he is managing partner at robert make consulting group ok gentlemen we're in st petersburg and i'd like to ask you robert the first question when we think of the term branding the country japan technology china the factory of the world germany decision united states maybe too much financial markets you think of russia what. if if the.