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 it. personally pouring more money into the coffers of irresponsible or inefficient members within creasing tension in the economic mismanagement some for see 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 not in europe you no longer seems like such a profitable move on r.t. stumble. and while the years trying 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 the view from germany which has always been the chief proponent of. those european nations that are not the you're much stronger much more. the right thing. 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 read your way into this is. but if you want to be truly economic you know about the things like an economist i

think a stress test solution because. once you know your value and once you can do that once your value you can regain your competitiveness on the international market does that after all it was the example of argentina which broke out of the one. well the us dollar is the. this is aussie and in a few minutes the highly qualified people destined for a low quality life china is produces more unified state budgets that can crowd churning out thousands of that surely was his degrees every year. how to avoid another economic meltdown that's been the latest topic for discussion at the international economic forum in st peter's by the gathering wrapped up on saturday night also down to the horizon when vestment invention and how to give developing countries more clout in the international monetary fund and well beyond

and he said knowing that the former will force the main topic out a session on global financing with european officials there is going to be the euro crisis but what has to be aside from the two officials president spain's 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 at the top about the euro crisis of the currency being weak because really as they see it the currency is very strong back could of course need to 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 currency that eventually they're going to run into problems overall it has to be said at the session went pretty optimistically president made a point saying 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 and optimistic that eventually they will somehow get out of that the main challenge so 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. 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 he said. but i was there 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 so secret that president medvedev may fight

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 work in 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 and figures here for the three day summit in st petersburg from silicon valley we had eric schmidt. google 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 proves that the way they think that it should be done. and from saying it is that in our business bulletin in about fifteen minutes time. and on the way to get a facelift in defrost. this russian orthodox church has wandered far from its home

on sean thomas in the end and coming up on r t we explore the world southern most 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 in. town very close to the turkish border to stem the flow of refugees to turkey human rights activists say the action will prevent food and water reaching some two thousand displaced people meanwhile be lining out the third round of sanctions likely to target companies with syrian dealings the us has discussed possible pressure on damascus said the united nations with russia but moscow sat at one back any resolution that may bring military action middle east expert says that any armed intervention would be counterproductive. 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 out 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 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 to be counterproductive. still to come as barack obama gets sued for going into libya without asking congress we asked people in new york what they was worth it. a waste of money to go lives of young people you know

do you think this is maybe another reason that we're doing a lot the reason all of you are or is it. that they send other takes on america's military motivations as gathered by the resident in a few minutes. china's economy with double digit growth has been the envy of many but. rapid expansion of you know better theory country means some cities are now awash with too many graduates looking for t.v. jobs and remote a half a story. 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 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 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 see of the money that put me through university i studied hard and did part time jobs to support myself you know though all i can find is unskilled part time work so i really feel like i'm letting them in dying off. 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. and that is for that on the one hand chinese universities are already in a weak state we've been 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 anything 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. and we are online for you all the time at home with a wealth of stories and videos to discover so let's take a look. moving i have been across a lot of this charge and wills is a revving up in central russia to bring the lights to even the most isolated washer but. an american pawn tycoon says there's always room for we know makes an offer to the sex scandal politician. denise is ready to host roundtable talks between colonel gadhafi and opposition of the rebels the ground in special envoy again that says negotiations will only happen on the island of job if russia and the african union mediate between both

sides according to our gallop the rebels see russia as a key partner in overseeing the possible talks hundreds have been have died in both nato airstrikes and violence between gadhafi forces and rebels in recent months nato has also expressed regret after accidentally targeting opposition forces in the old city of bragg which has been which has seen fierce fighting now casualty details have been given the nato campaign has also come under pressure in washington where president obama has been accused of breaking american by not asking congress for permission to extend u.s. military involvement the white house says it doesn't need approval. and u.s. involvement in the middle east conflict has drawn harsh criticism in america from some quarters in the country wary of yet more long drawn out military can pay is far from home and our resident reporter in new york lori helfand it has been on the streets asking people that if you use.

number one in the world that we get us. there. well we can still do it even though you. best we can we can 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. americans as being some kind of. world police you know you think about us dick 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 which the money and the lives of the young people you know 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 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 us 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 it it's not going to stop anytime soon. a so-called liberal true of death has been destroyed in a special operation russia's north caucasus republic of dagestan around a dozen powerful homemade bombs were discovered and down to ground compound that was hidden in the forest officials say the raid prevent terror attacks across the republic has saved many lives all the bombs have been destroyed a number of cell phones were also found which could have been accused to trigger the operation. terror suspect for the rest of the game and. also in the news night

seven people including a fourteen year old girl died. in sectarian clashes in northern lebanon links to them dressed in syria lebanese sunni muslims who strongly oppose syrian president assad clashed with members of the other white a minority who support him as he shares their religion the violence followed the later the 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 in a suicide attack going to police station in central kabul three insurgents dressed in military uniforms stopped the building stormed the building near the professional presidential rather pilots with one blowing himself up while the others opened fire on officers the taliban says it was responsible for those the disclosure by are going to president hamid karzai that the u.s. was in secret talks with the militant group hoping to under the decade of conflict following the american led invasion. work on decontaminating water

japan's fukushima nuclear plant has been halted after radiation surged well above safe levels authorities are anxious that the water inside the damaged facility could spread further contamination intervening environment meanwhile a u.n. atomic energy agency report has criticized japan for failing 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 floods and heavy as heavy rains continue to batter that south of china over one hundred seventy are ready dead or missing after some of the worst rains in half a century flooding has already forced nearly seven hundred thousand people from their homes the disaster alert has been raised to the highest level as the brains are expected to continue. to stand by a plane has plunged into a river while performing at an air show in poland killing the pilot the man who was the only person on board was an award winning arab batiks expert and commercial

airline pilot show organizers say it's too to early. say what caused the plane to crash. the coldest continent on earth until they look like parts of russian winter that's nothing to do with this now and eyes because it's also home to russian orthodox church in about a very lively and fire way a place as one would expect thomas reports from downtown. perched atop a picturesque 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. the world this is important so far this is the only antarctic station that has a russian orthodox church. in fact the trinity church is the southernmost russian orthodox church on the planet and getting it here was not an easy operation there it is. 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 let's face it stream 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 towards 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 at billings station on kings 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 lived 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 at trinity making their marriage a part of antarctic history in antarctica sean thomas. travels i had this next. so we take a trip around the capital in

a few minutes when we explore a picturesque a ring road that's definitely an eye opener but not tresses in the same piers that before that was all that's been happening at the international 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 a 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 but 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 had 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 actually here in the forum as well as the like is you put a structure the legal system. in the shop i think a nice and this is supposed to make sure that there is easing this. the gaze of 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 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. at global perspective no other major economy in the world such a tremendous lack of the mystic capital for the. financial market being that i could see sold off in that sense russia is very unique we were truly no presence of some noises to the sort of page and mutual funds which would provide them a stick up for the support equity market there to provide liquidity for and i think that's a very specific the mystic problem the go forward to stuff the press you know the provide. for success with creating a financial so. 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 to some seven billion dollars worth of work that was accomplished here among the deals of philip 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 at taro in st petersburg for our work on the conference and to 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 the 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.

to a substantial degree and one form or another socialism has spread the shadow of human regimentation over most of the nations that they are and the shadow is encroaching on the for. the early twenty first century military bases the network of military bases all around the forms that believe. that the united states is trying to get its astonishing most americans have no idea

there are more than a quarter of a million or more than two hundred fifty thousand u.s. troops stationed on these bases all around the world. we don't have fallen bases of them or. we don't have any british base we don't have any korean base we don't have any french bases or you know we just all american bases in bases of a lot of the noise is our north of those ball to us at all because they're all bases but for other people it's almost like a cancer here for these people since the in the world war two the spaces i've been . working here to provide a safe and secure environment for everybody. the questions the appeals you get everything you needed.

welcome back this is coming to life for moscow to headline. the u. agonizes over cutting its catastrophic downs and believing budget as other countries at once eager to join the globe have second thoughts. meanwhile the st petersburg 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. and of beacon for tentative peace in the us timmy's it off as an island venue for talks between colonel gadhafi and opposition rebels it's also called for russia and the african union to act as mediators at the kremlin's envoy is touring the region in an effort to broker peace. right now and all round of moscow next as moshe enters

explores one of the most picturesque ring roads you'll find. hello and welcome to the moscow outsell on the program this week i'll be exploring the capitals. approximately sixteen kilometers. it was recently created in the early days of hundreds as a tree lined boulevard to replace the city's outer wall today it's undeniably the heartbeat of the russian capital i'm a sausage here right next to the moscow river at the famous public outdoor space goalkeeper hog. the golden ring consists of seventeen individually named streets

and squares. it's not the same circular layout as the moscow metro a mistake many people commonly make the brown line actually overlaps it in several areas and features metro stations outside the facility also known as the cell to a console in russian no visitor to the russian capital the famous chaotic golden ring road back to a starting point a cool keep down to amusement park was named after the writer maxine gorky. bluefins in one hundred twenty eight in covering an area of three hundred acres along the river the outer space is currently undergoing a major renovation it's the perfect place to relax in the city in the perfect place to start out. moving anticlockwise around the ring with possibly sky and head towards public sky station where you can catch the express train to the airport king cycling or driving around the garden bring you'll see it's a cultural mishmash of a.