doesn't want to help chancellor merkel facing an election battle at home has claimed many thing in correctly the spaniards the greeks don't work hard enough i think they must save themselves french president nicolas sarkozy is quoted as saying german egoism is criminal and germany quote solidarity with the euro very much a political project driven by e.u. leaders the sides of the euro two powerhouses germany and france in conflict is unlikely to calm investors who fear for the future of the single currency while the sweeping measures negotiated by the e.u. made it clear the block is committed to saving the euro at any cost and economic journalist patrick young says it's only a temporary cure patching over the inherent flaws of us and finances ultimately a lot more money has been thrown at the greek economy in the hope that that can stop the contagion but really a lot of it just looks like hype and i'm very very concerned that we haven't

actually find a cure we've just got another sticking plaster what really the european union are trying to do here is they're trying to stanch the blood that flowing that money that's flowing out of the greek economy that can has been kicked down the road the danger of contingent still leaking to other countries such as ireland portugal even italy and spain are there and therefore we don't have a cure what we've seen so far unfortunately looks like hollow words and hollow words do not inspire confidence in markets and that has got to be some degree of a problem for the euro in the longer term and as the world watches whether a second bailout or finally turning easy can i fortunes around and we're joined by mark farner founder of the gloom boom and do report his take on the situation but even joining us nice to know exactly who has agreed another massive greek bailout well that with the end of the blocks debt crisis do you think. no no this is the beginning and i think after this bailout many more bailouts will have to be

implemented what these fail out essentially amounts to ease a massive monetize ation and also subsidy of the rich countries not conscious how to wait like germany to bail out actually not even greece but to bail out french banks notably and other banks that downloaded we screen bonds including the e.c.b. and what of it to the in spain the major trade partners many asian countries if the crisis spread today what it means the for the region do you think even premium the importance of post the u.s. and europe even though it's not just for asia or east overplayed

i think yes they are big markets but these are markets that are not growing rapidly whereas emerging economies are growing very rapidly turns up export markets or china countries like they're not going to american country central asia rusher and of course also africa the middle east and so i don't think that a crises in europe would be disastrous for asian region also don't forget the major we have three point six billion people we have today already a very very significant domestic market. china said it would lend a hand that you by buying up dead and investing in the continent are what's behind that do you think goodwill or a desire to spread its influence. i also wonder big because chinese that was a been buying u.s. treasury for masquerading years and very significant currency losses on beans u.s.

treasuries back that they have a very low return but. ease and this was also at the station or one of the reasons for bailing out greece east out the western power imperialists and colonialists of the west they don't want to get the strong foothold in europe and the chinese were getting closer to the greeks because. the strategic really important for trying to having. their. well there are also concerns on that by investing so much to prop up weaker economies that well the e.u. is essentially turning regional issues into block wide problems would you agree with that. yes i think personally the base solution for the problem would have been for the strong countries kick out the weak countries

of the south or to go and certainly greece and simply also ireland and spain and essentially focus just the e.u. on very strong countries that would have that would have made more sense in my opinion and also to those africa the answer me economy i would say if you have a corporation that trouble the festus to restructure the dates and everybody has to take a loss the bondholders right we had one bailout after the other and basically it happens on tax payers expenditure that the taxpayer maybe not realizing it so much but basically there are costs involved in the sense that. the euro interest rates will be high here then they would have been at the

bailout not occur so given all the benefit for asia what would be more beneficial in your opinion a smaller usa made up of prosperous nations like germany and france or mixed e.u. as well as it is now. i think a smaller e.u. would probably be more desirable but as i say asia we have so many other problems and issues to come. that the euro zone is not. issue it is important in terms of capital markets because the bailout as you see the full speed yesterday the stock markets of the us europe and asia the stock markets. purely economically it doesn't make much difference to asia. and even a founder of the gloom and doom report thank you for joining us it is my pleasure

thank you very much robert. well still to come on the program skeletons in their toes closets while the loans turns a blind dying on the alleged human rights violations by the rebels expert opinion coming up. and the operation to bring the sun conclusive violent garia to the surface of the border river and try to stop its final stage. news international chairman james murdoch has been accused of trying to mislead position pays off to saying he was unaware of the true extent of phone hacking by reporters his testimony was challenge by two former executives to say i was informed three years ago that made legal practice went beyond just one rogue journalist working some of the medium and however denies the accusation and that's the scandal continues to grow critics believe the issue is just the tip of the iceberg in society that no longer values the privacy of the people. as the scandal

over phone hacking by the murdoch media empire rages on public and political fury has mainly focused on ruthless tabloids out of control prepared to invade people's private lives and even the dad to get the story but some say in this day and age the whole concept of privacy is falling apart and in the u.s. more rapidly than elsewhere every time you tap on your cell or click on google or use your mail service everybody's sort of just clicks through that you agree to our terms and conditions well those terms and conditions are very very heavily weighted against you and your privacy interests and we see breaches of privacy happening. all across america all across the world really in every sector surveillance is rampant but really this is all a microcosm of the biggest surveille are all which is the state there's little

americans can do with the state having sweeping access to their private. information axis that followed the nine eleven terrorist attacks under a new law known as the patriot act asana law his privacy was taken away from him in two thousand and two when he was detained by the f.b.i. for absolutely no reason he says and scrutinized for months without charge he's response for nine years he has voluntarily documented nearly every waking hour of his life on the web he has subsequently even turned it into a form of art see all the toilets that i've used so you know that over here for example you know that on sunday november twenty fourth of two thousand and seven i've used this toilet i went grocery shopping at safeway over there on october seventeenth i got gas over here he posts copies of every debit card transaction so you can see what he bought where and when a g.p.s. device in his pocket reports his realtime physical location on a map and this is the shot he took on his way to our studio which was immediately

uploaded on his website hasan says his extraordinary abandonment of his own privacy stems from the ignorance of the authorities but in the fear they decided well that guy looks a little different so he must be arab and if he's arab then he must have explosives everyone knows that that's the logic we're operating we we realize how ridiculous that logic sounds but when your country when your own country takes that on as the basis for national policy. ignorance is the basis of national policy is a pretty scary situation. and that's how i got caught up in it for ha son privacy has become a rally of the past and he says he's not surprised that journalists or anyone else really would use the same surveillance tactics as the state in that sense it might be of no surprise that the chief architect of the putrid act the lawyer who put it together happens to be one of murdoch's hand-picked used for board directors you served as assistant attorney general in the bush administration and was described

by some as the purveyor of the most sweeping curtailment of freedom in the u.s. system across the era at a time when corporations and the government can easily hack into people's private lives it doesn't come as a surprise when for example social networks give your personal information at companies or when other industries leave bob breaching people by the seat in the u.s. it's so widespread and people have gotten so used to it that rupert murdoch seems to be perfect art of the system rather than some special bill and with corporation has been undertaking some unique all lawful practices because here in america they're not so unique i'm going to check our reporting from washington our team. these people as well grills has crossed the consequence is this scandal is having on both so much of the atlantic is a preview for you. where you know the u.k.

would make murdoch news corp violator of the foreign corrupt practices act which has criminal and civil penalties. basically doesn't allow u.s. corporations to bribe foreign officials if murdoch is bribing foreign officials seems really case they're talking about a hundred hundred thousand pounds or one hundred thousand dollars worth of bribes to the london police if that happened he broke the law and the f.c.c. should look at that and say that the twenty four stations he owns that cover forty percent of united states. he should not be allowed license of the news corp's licenses should be revoked i don't ask kevin to define what he means by bribe a little more carefully because that sounds slightly as though he's overstating it what some of rupert murdoch's british newspapers have been accused of doing is paying the police the story for stories giving them tips in return for tip offs and i think that is absolutely in demick within any tabloid newspaper culture in

virtually any country in the world. serbia's the last war crimes suspect goran hadzic has been transferred to the hague where he'll appear before the international criminal tribunal for the former yugoslavia both great hopes his extradition will clear the way for the country's entrance into the u. but is artie's sara firth reports the serbs are no longer sure find safe haven within the euro zone. the last of the war crimes suspects wanted by the un is heading for the hague it's seen by many as the last obstacle to serbia now gaining the membership but some skeptical that brussels will move the goal placed once again the government keeps. fulfilling new demands are coming from brussels but people are not feeling any benefits from it there are three feeling that things are becoming worse as a result. support for e.u.

is dropping so there is a growing gap between the voting in the borders and the government that stands and we will probably continue to an official government poll just out shows support for eighty membership among serbs at its lowest ever fifty three percent in favor down from seventy percent eight years ago it's not a surprise that when portugal italy and many more econ cheese announced struggling for the people here it no longer believe that the e.u. is going to be the answer to all their problems all show. many have relatives abroad and. things are wide. besides the soldiers and their. patients could not be successful we can see. why even though. this is

a disillusionment in serbia if the government's apparent willingness to ben-david back has to eat in mons serbia will get in return for years against nothing whatsoever i mean serbian serbia serbia has got many many more hoops to jump over before it can get anywhere close to a new membership so what could be next on the ease list well enough a major sticking point is thought to be serbia is fadia to recognise breakaway costs of a belgrade. that will never happen despite many member states pushing for exactly that president but it's said he is moral and legal obligations have now been. the song remains the same as words. i mean it hasn't changed hasn't jane says the truth hasn't changed since a project. the president gore on had it for me it really is a major obstacle and it's great to even be there with it seems the way to.

get it is part of the deal will be. the great. one that we're on air around the clock but you can always find more stories on our website called some of what we've got for you just a click away today russia coming up it's very true night literally inflatable tanks and jets complete with rubble. to fool potential enemies. and breathtaking pictures of russian cossacks performing incredible stunts on. government full on a website. called. specialists have started raising the sunken passenger ship belgariad from the bottom of the volga river in russia central republic of. went down in minutes almost two weeks

ago drowning a hundred fourteen people the complex operation involves partially refloating the vessel pumping out water before turning it to a floating dock so the efforts will find the eight bodies two missing after the tragedy the plan is weather dependent and difficult to work experienced technical problems. a mass grave of alleged to program the soldiers has been discussed. in a rebel controlled libya according to british newspaper the telegraph the location was swiftly bulldozed after the discovery suggesting an attempt to cover up the killings the bodies were reported mutilated into recent concerns of human rights abuses by rebels such crimes are being swept under the carpet or support nato's coups in the region says chandan a spokesman for the british civilians for peace in libya movement. i think really fundamentally there's been a problem the way nato the nato nations and their media have related to these

so-called rebels i mean these rebels have been conducting mass lynchings of black people throughout the first several weeks and months of this crisis and i raised this directly in press press conferences and the answer was what silence it was uncovered in the media before because this does not fit the narrative since the nine hundred ninety nine nato aggression against yugoslavia which was we are conducting these wars not for geopolitical control and domination of monopolization of mineral wealth but for humanitarian reasons so how can it fit the narrative of these rebels which nato and the nato countries are supporting lynching black people or conducting all the atrocities they accuse in the gadhafi side of conducting but actually the rebels are conducting these things so it doesn't fit the narrative. now some other top stories around the world for you this hour computer hackers orderly cracked internet security system and access to restricted data recording

themselves anonymous post to the tweet file labeled nato restricted the document is believed to contain information on the allowance of operations in the balkans still breaches in response to the recent arrest of twenty one people accused of cyber hacking in order as a movement is known to be sympathetic to wiki leaks and its founder julian assange has already attacked the websites of major companies and government agencies. people affected by last year's earthquake and tsunami in chile have clashed with police using authorities and failing to build a devastated areas most of the protestors have been living in temporary camps shelters since the tsunami swept away their rooms they claim the government's reconstruction efforts to slow the new new houses are built police responded to demonstrations of tear gas testers attempted to block major highway.

the heat wave gripping the u.s. has reached the east of the country where you see officials in new york philadelphia boston and other cities rollercoaster are taking precautionary measures temperatures in the affected areas have been holding above thirty seven degrees celsius weeklong conditions have already resulted in at least twenty two deaths across the country. well coming up next hour the moscow team takes you to russia's center called city of brides proving the country's culture of life doesn't stop at the borders of the capital. i bolivar the city of brides roughly three hundred kilometers from moscow this year it's celebrating its one hundred one fortieth anniversary and with that is a whole range of exciting cultural events from film festivals to exhibitions it's not all happening in moscow.

a very is here now with all the business days. thanks very much carol is now take a look at what's happening in the world of business and russia's economic growth is slowing despite high oil prices the economics ministry says the country's g.d.p. increase around three and a half percent in the second quarter compared to more than four percent of the beginning of the year however the outlook for the second half is brighter. in the first half of this year the ministry of finance ran a tight fiscal policy and the central bank started typing monetary policy in order to get inflation back under control and they've done it inflation peaked at nine point four percent in may and it's there falling is the new harvest comes on to the market and in advance of the election fiscal policy is no turning from being time to money in so close to being expansionary and running a deficit so i think that you'll see this fiscal stimulus on the back of the

tightening labor market and the best news from construction agriculture push second half growth up strongly so i think that this is just the last. the last outcome of the central bank in ministry of finance is tight first off policy. let's see how the markets are doing crude is climbing for a fourth day as investors hope for growing demand amid optimism in europe and the u.s. will deal with their debt crises also the international energy agency says it won't expand a release of oil supply and asia shares are in the black on reports about the bailout for greece financials were among the best performers in asia and tokyo technology sector was also supported by strong earnings reports of the u.s. firms such as micro devices and san disk in hong kong energy firms benefited from higher crude. the great deal is also giving support to the european stocks and

you bail out should help the country's debt by a six leaders of the e.u. unpowered their four hundred billion euro rescue fund to buy debt of stressed euro nations and that's tended to prevent the crisis from spreading to other members they also may detail provisions for limiting the damage of credit rating agencies declare and default. and here in moscow the indices have joined the global rally let's take a look at some individua. on the my six. mostly higher. oil price adding more. is on the rise after seventeen percent increase in profit for last year. by twenty percent of project gas.

while x. rays in russia have been largely affected by the turmoil in the e.u. and the u.s. spies raw gnash capital says it's time investors look to stocks reflecting local trans what's been driving this year has really been the oil price it's been what's happening in europe what's happening in the us but you know what will drive russians talks over the longer term and that's how investors should think here's what's actually happening in russia you know reforms in the financial sector. some of the reforms that are taking place in the utility sector these prove provide an underpinning to. the latest headline that comes out so i'm looking for stocks like. utilities like some of the. as well you know stocks that reflects wall is. changing in russia there's going to be volatility in all of those names depending on what's happening elsewhere but

over the longer. i think you should invest into the russian story not into what. it's in the u.s. or between your brussels. russian companies are getting broader access still receives markets the federal service for financial markets has decided to allow them to list up to one hundred percent of their shares abroad the previous limit was just twenty five percent designed to spur local demand for stocks however officials admit the limits failed to help instead russian firms held placements using offshore of eagles when seeking to raise cash abroad the easing will not relate to strategic enterprises. well it's all the visit is for now for more memory can always check out our website r t dot com slash business see you next hour.

culture is that so much of the taxpayers' money for me to do what i do every real creative gaming empire as the phone hacking scandal in the u.k. involves more victims and politicians look for cover all eyes are on the future of . india oh jeez i'm a bit in the mood going to join the hotel rooms the elevated us the gateway photo

the grand imperial truly tours west coast coromandel you can know what's hotel close mission hotel sit don't need to go and. read this in the kennel was her job as a school retreat. that i turn to look at the headlines now to hear about. the bailout fever in the e.u. continues as leaders thrash out a second multibillion dollar nightlife from greece and there's the itself against attacks by credit rating agencies. in a guide to europe's economic woes more serbs are questioning whether the country should join the concerns haven't stopped serbia fulfilling its own conditions to once a new membership. news corp chiefs try to weather a major media storm critics say there is no surprise the scandal erupted in the

society that prophecy has been severely devalued. if it would bring you more now on the phone hacking scandal in the debate crosstalk people are velazquez guests about if there is impact on one tick and the implications for the murdoch media empire. and you can. follow and welcome to cross talk i'm peter lavelle came in the murdoch empire as the phone hacking scandal in the u.k. engulfed more victims and politicians look for cover all eyes are on the future of news corp and its assets in the us and beyond has the murdoch family finally outfoxed itself. and.

crossed out the implications of the phone hacking scandal i'm joined by kevin zeese in baltimore he's a spokesperson and lawyer for the government accountability group protect our elections and author of an open letter to the f.b.i. and s.c.c. urging them to investigate murdoch's news corporation in the us in washington we have dave south danae he is communications director for free press and in london we cross to toby young he's a journalist and author of how to lose friends and alienate people all right gentlemen crosstalk rules and in fact that means you can jump in anytime you want kevin if i can go to you first because of your open letter here i took a look at some of the button laws and bylaws of the f.c.c. and they basically their job is to make sure how the airwaves are used and they have to ensure that they're used by people of quote good character who serve the public interest and speak with candor so does murdoch's television empire at least have any.