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. me 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 for some time to come turkey's markets are famous to tourists and traders alike taking

that mercantile spirit to europe what once seemed like a good idea but with all the riches here it's not in europe no longer seems like such a profitable move tom barton r.t. istanbul turkey. and while the use struggles to pull its members out of a destructive default spiral the country is what stuck to their own currency is a breeding f.i.a. of relief and that's a view from germany which has always been the chief proponent of. those european nations that are not in the europe will no be much firmer much more convinced that they're the right thing when it didn't join me or there's no way we can avoid a default it will have to be done. with it and by the european community everybody together if the greeks leave. that is like you know a lot stronger mind. region weight into the system but if

you want to be totally cool the economic you know i. think like an economist i think us trust the best solution because. once you're out you have devalue and once you can do that once you devalue you can regain your competitiveness on the international market this after all as the example of argentina which broke out of the monetary union with the u.s. dollar and the beauty of the us that could. in a few minutes this hour the highly qualified people destined for the tonight china produces the university graduates that it can occur with churning out thousands of that she was to this degree use every year. her to avoid economic meltdown that's been the latest topic for discussion at the international economic forum in st because that the gathering wrapped up on sunday way also dealt with the horizons for investment in russia and how to get developing countries more clout in

the international monetary fund and wallbank and he said now it was at the form. of course the main topic out a session on global financing with european officials there's going to be the euro crisis what has to be aside from the two officials finland's presidents face prime minister post 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 back could of course be too bated from the president of kazakhstan and president medvedev we 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 car and see that eventually they're going to run into problems overall it has to be said the session went pretty optimistically the president has been pointing out that the economy is a lot like the weather here in st peter's for 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 and optimistic that eventually they will somehow get out of that the main challenge though that you are of 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 today david 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 run for reelection it will certainly be modernization that's what he opened this forum with and this is the best place to really working detail on projects like spoke about what's the plan to build someone like silicone 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 i working side by side with them to make sure that this project moves and develops the simply 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 present the way they think that it should be done. and move from saying because the business bulletin in about fifteen minutes and on the way

how to get to live ten days from us. this russian orthodox church has wandered far from its home on john thomas and carthago and coming up on r t we explore the world southern most the russian orthodox church. the syrian regime has apparently started an operation to prevent people from fleeing violence in the country troops backed by turns have swept into town very close to the texas border to stem the flow of refuge. turkey human rights activists say the action will prevent food and water reaching some two thousand displaced people meanwhile the u.s. lining up the third round of sanctions likely to target companies with fear and dealings have discussed possible pressure on damascus that the united nations with russia but moscow says it won back any resolution that may bring military action middle east expert says that army any armed intervention would be counterproductive.

all the talk of exporting democracy and all that sort of preaching 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 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 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. and still to come as brocket donna get sued for going into libya without asking congress we asked people in new york

whether the wars were. a waste of money the lives of young people you know do you think there's maybe another reason that we're doing in the world reason all the oil. they send other takes on america's military motivations has gathered by the president and if you know. china's economy with double digit growth has been the envy of many. that rapid expansion of you know that it is in the country and cities are now awash with too many graduates looking for to a few jobs henry morton has a story that. 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 or forcing 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 and i thought all i can find is unskilled part time work so i really feel like i'm letting them dying. part of the problem is that

there are simply too many university graduates now entering the system in one thousand nine hundred eighty two when the 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 that number was six million and it's still growing and that is for that 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 who 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 residents 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. now and we are online all the time at auntie dot com with a wealth of stories and videos for you to discover a stake in the. moving house and of course out of its trash and we'll have the revving up in central russia to bring daylight to even the most isolated awash. in american porn tycoon says there's always room for all we know and makes an offer for this x. kind of petition. to news it is ready to host a round table talks between colonel gadhafi and opposition rebels the kremlin

special envoy and he barely hilmer gallop says negotiations will only happen on the island of russia and the african union mediate between both sides according to a that if the rebels see russia as a key partner in overseeing the possible talks hundreds have died in both nato ass trikes and violence between gadhafi forces and rebels in recent months nato has also expressed regret after accidentally targeting opposition forces in the oil city of bragger which has been i would have seen fierce fighting casualty details have been given to nato campaign has also come under pressure in washington where president obama has been accused of breaking american law by not asking congress for permission to extend u.s. military involvement the white house says it doesn't need. while the u.s. employment in the middle east conflict has drawn harsh criticism in america from some quarters in a country where you have yet more long drawn out military campaigns far from home

and our resident reporter in new york your confidence has been on the streets asking people that view. we're number one in the world or we can us a house to show the world we can still do it even though the economy is not 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 your ass stick yes you don't think there's any altieri motive. none at all no oil interests no economic interests 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 there's maybe another reason that we're doing it 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. had maybe our priorities are 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'd like to 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 it it's not going to stop anytime soon. a so-called laboratory of death has been destroyed in a special operation russia's north caucasus republic of dagestan and around a dozen powerful homemade bombs were discovered in the underground compound that was hidden in a forest officials say the raid prevent attacks across the republic has saved many lives all the bones have been destroyed

a number of cell phones were also found which could have been accused to trigger versions of their operation came. after a terror suspect was arrested in the same area. and also in the news tonight seven people including a fourteen year old girl have died in six terror in clashes in northern lebanon to the rest in syria lebanese sunni muslims that strongly opposed syrian president assad clashed with members of the other white minority who support him as their religion the violence followed the latest demonstrations against the damascus regime across the border lebanese troops have been deployed in the city of tripoli to prevent more clashes. nine people have been killed an associate attack on a police station in central kabul three insurgents dressed in military uniforms stormed the building near the presidential palace with one blowing himself while the others opened fire on officers they taliban says it was responsible for that time follows the disclosure by al going to president hamid karzai that the u.s.

was in secret talks with the militant group hoping to end a decade of conflict following the american led invasion. work on decontaminating walls had to parents fukushima nuclear plant has been halted at a radiation surged well above save levels authorities that the water inside the damaged facility could spread further contamination into the environment meanwhile an atomic energy agency report has criticized japan fulfilling to put essential safety measures in place in the wake of the disaster. at least eight more people have been killed by lightning strikes and lives as heavy rains continue to batter the south of china over one hundred seventy are ready died are missing after some of the worst of rains in half a century flooding has a ready force nearly seven hundred thousand people from that the disaster has been razed to the highest level as the rains are expected to continue. as standby

plane has plunged into rebar while performing at asho in poland ok. in the pilot the man who was the only person on board was an award winning aerobatics advocate and a commercial airline pilot air show organizers say it's too early to say what caused the plane to crash. because of the continent on earth antarctica and they look like parts of the russian winter that's nothing to do with this snow and ice but because it's also a russian orthodox church and about as unlikely as far away a place as one would expect and thomas reports now from downtown and. perched atop a picturesque a rocky hill overlooking the sea so it's 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 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 in altai the church was built and it sat there for a while until the end of two thousand and three they numbered all the parts every beam was disassembled and they transported it to kaliningrad from there it was shipped all the way here to antarctica since feb fifteenth two thousand and four the church has been officially up and running with the orthodox church providing a staff of two specially trained 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 blowing so that the water is not just coming through the cracks but also it can climb up which to leak inside. now trinity church has become

a sort of and article landmark even becoming somewhat of a tourist destination for the. peas and diplomats. no matter who visits this church they always say it's beautiful it's a remarkable church made up of boudin a russian architectural tradition. more than just a popular tourist destination the building at billings station on king george island is a gem of the russian orthodox church and it's a fully functioning facility even performing rare matrimonial honors for those lucky in love and lust i came here for a long stay sixteen months and i had no idea that there 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 promised atlanta that i would bring her here i was not sure how but i promised that i would whilst atlanta was still in russia i got the idea why not have our wedding in this church. one of only two couples to have get married

here trinity making their marriage a part of antarctic history in antarctica sean thomas. and in a few moments the significance of the new south stream gas pipeline is in the spotlight but before that the business update with mattress i think it is about international economics for. 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 the rushes on the st petersburg international economic forum or president dmitri 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. where they discuss the challenges facing the global economy the russian president has 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 this 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. luckily for the actually here in the forum as well as the like is if the structure of the legal system. in the russia i think i know this is what he's supposed to make sure that there was season s. . he gaze in this business is to do business in moscow one thing was the government souls this i think will become much of a financial center. but jack are now off 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 for the. financial market being that i could to sell bonds in that sense russia is very unique we were truly no president some noises of the sort of. mutual farms which would provide the mystique of political support equity markets there to provide liquidity for and i think that's a very specific domestic problem the go forward to stuff the press you know the provide for success with 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 of philips 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 the spanish prime minister is up at taro in st petersburg for our work on the conference and russia and 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.

day children play war in the east me. but in june one hundred forty one these walls where the first barrier fell and as the troops on their way to moscow and. restless were done one by one under ceaseless. water.

in the last shelter an unnamed soldier left a few simple words farewell mother. dying but i'm not surrendering. well the british style. market why not. find out what's really happening to the global economy with my stronger for a no holds barred look at the global financial headlines kaiser reports.

great to have you with the headline. you agonizes of the kind of thing it's kind. of ballooning. as other countries. have soccer fields. meanwhile the same debate is about international economic forum has been discussing how to avoid another global economic meltdown and encouraging major funds to take a fresh look at the new horizons for investors in russia. tentative peace in libya as. an island they need for talks between an opposition rebels it's also called for russia and the african union to mediate is a big boys touring the region and efforts to broker peace it's. up next getting

russian gas what's needed within the. spotlight speaks to that south stream pipeline but also about what this means for keeping europe powered up. well let me. remind you the latest in science and technology from around the world . we've got the future covered. hello again and welcome to the spotlight they interview sheryl on r.t. and i'll do another one today my guest is marcel grammer russia isn't bursting heart into the south stream pipeline

a direct and independent gas shipping route to you but as the project is gaining momentum there's criticism in some quarters that south stream is unprofitable then as no future one to do the project leaders have to say today here's the c.e.o. of the south stream marcel primary joining us from st peters world economic forum. after the gas role between russia and ukraine left europe breezing moscow decided to develop an independent fruit to secure its gas supplies south stream belayed along the bottom of the black sea and then on into europe but critics say this pipeline will make western europe even more dependent on moscow today every fourth household on the continent consumed russian gas. main south stream investor gasper always working hard to prove that even the pipeline. is a crime or a welcome.