welcome back you with us here live from moscow i'm dollars for showing a recap of the top stories now the head of the e.u. calls for yet more money to be made available to struggling economies italy and spain slide towards their stress on the cost of borrowing so. the u.n. it condemns the use of force against civilians in syria and calls on all sides to end hostility summit continued violence all across the country. and the failed

palestinian suicide bomber tells us about her new mission for peace after being caught before detonating device she says that she wants to use a second chance to promote tolerance between israelis and palestinians. so the financial troubles piling up in both the eurozone and the u.s. may feel like a relatively recent phenomena but the former head of russia's central bank says that's been swirling around for ages next he tells us it's being used now as a political pawn. to get russian to hello and thank you very much for being here you became head of the central bank when russia began pursuing its shock therapy policy following advice from american experts how would you advise your american colleagues now with the situation they are facing. to live within your means that's all

that's just what they told us back then with no idea at all about our economic and social situation at the time that was in one thousand nine hundred two when we began well parts of the government began to listen to their advice after russia joined of the i.m.f. that year later they wrote and the famous stiglitz a nobel laureate and former economic advisor to clinton was among them that they were doing everything wrong but they were telling us was all wrong. if we think about the ability to lead within one's means who's better at that russia back than or today's usa. you see the u.s.s.r. was living on credit of course but it was solvent and other states were eager to give credit even the us though the latter wasn't doing it directly but through european affiliates they all knew after all that the soviet economy was under control and that the country would pay its debts sooner or later even without high oil prices that's why they were eager to give credit to the u.s.s.r.

especially to finance the purchase of high tech goods to be supplied to the soviet market the fact is though that after nine hundred thirty two a time of crisis for the us america wouldn't sell the u.s.s.r. complete production facilities like the car plant until you atty or chemical plants which the u.s.s.r. had brought for four billion dollars worth and which had played their part in its technical progress but anyway the soviet union's credit rating was quite high it has been easy for the us to take credit because of the entire system that's been built up since nine hundred forty five when the i.m.f. was being set up there was a heated dispute between the u.k. and the us of course the british had to back off because their economy had been greatly damaged by the war that later led to the devaluation of the pound some years after the war in fact all of europe was living off the marshall plan back then and that consisted mostly of agricultural commodities along with some industrial plants and factories that had depleted their technological potential

ones that the u.s. didn't need anymore this in part was the reason for the america's technological leap over more recent years though with production capacities growing rapidly in the third world the share of production in america's g.d.p. has been shrinking that's how america began to live on credit and living on credit is always difficult as a time may come sooner or later when debts will have to be paid off but right now nobody wants to remember that it was in the early ninety's when bush and the republicans came to power that the us external state debt by issuing treasury. bonds with different terms but anything from one week to twenty years and the interest rates grew massively right now it has been increased still further so generally it all happens under the republican rule my question is then why all the hubbub now it's just political games but nothing more to come out of college time do you think the usa has left before it has to start living within its means or

work. well you see speaking of the country's gold reserves the u.s.s.r. only joined the i.m.f. in nine hundred ninety two although it was among its founders back in one hundred forty five the soviet delegation took part in all relevant discussions and we even managed to secure the right to keep our contribution to the capital of the world bank in gold the reserves of which stalin was very keen to control the gold was to be kept in the u.s.s.r. with the i.m.f. having the right to come at any time to check it was still there and hadn't been sold the u.s.s.r. could join the i.m.f. before december the first nine hundred forty five but then the head of the state planning committee was in a sense he stepped in and said we we came out of the war so poor that if we gather and file all the stops required by the i.m.f. all we'll see is how much we actually lost in the war so we better not join the i.m.f. rules dictate that any country's currency reserves resulting from a good balance of payments and without a budget deficit should be kept abroad either in dollars or in gold well it would

be ridiculous to buy gold the price of which tended to swing all the way from eight hundred dollars to four hundred dollars an ounce in one year the us never maintained gold prices even though it used to be thirty five dollars an ounce and did not in seventy one president nixon raised to seventy dollars an ounce went to gold collected all dollars throughout france and sent them to the us and asking to exchange them for gold with gold content of the dollar was devalued what everyone keeps quiet about that they began living on credit the great could only keep your currency either in gold or in a currency that was used in ninety percent of world. at the time and so did our country even though now we cattle in dollars euros and even in a small part of swiss francs or something of that kind since two thousand and two the us to some extent lives in debt to the entire world and that isn't right seen. such as the us managed to avoid a technical default but what was the threat to the whole world

a us could lead to the vault it wouldn't have been able to repay treasury bonds it issues according to the limits set by congress to the ministry of finance or to the us government water the us president the government head so they wouldn't be able to replace them with new bonds in time. and what happens within the country if they reach a compromise to cut their expenses. no explicit connection to the situation within their country on the other hand the dollar exchange rate including cash immediately drops on the world markets and the exchange rate for securities traded around the world drops as well in spite of the fact they are issued by u.s. companies so they incur bookkeeping losses at the very least and perhaps even real financial losses to a large extent the debt was formed under the bush presidency the war in iraq and their role in the afghanistan conflict of course huge military expenses and in effect the whole world including our country has been funding those military costs

their budget deficit and their balance of payments deficit would. need if we talk about expenses the prove to us military budget for these here alone is about seven hundred billion dollars and frankly speaking there are no reasons to believe that these military expenses will be reduced do you believe this could be possible. i believe that globalization which has been happening for a while now and which hasn't been given much to developing or third world countries will result in some kind of collapse. since nine hundred forty the us has raised in. that limit ninety times it's become standard procedure like now the sea change and has progressed to the point of shaking the world's markets and the world was threatened with a known economic territory how did that happen. to a large extent in the one nine hundred sixty s. or seventy's ninety percent of international settlements were in dollars that was between countries that weren't even connected with the u.s.

there the eurozone was established to start giving up national currencies even though some european countries like denmark didn't join a number less the dollar remains the key settlement currency everyone needed dollars and often required dollars rather than any other currency therefore the dollar became the worldwide currency with a worldwide spread also calls for worldwide responsibility and the us authorities didn't show enough of that responsibility and i mean the number of economists called the actions of the u.s. financially irresponsible do you agree or is it rather a kind of game for the sake of their own interests from the viewpoint of economic theory there is a certain irresponsibility. you're famous american economist or perhaps french canadian origin about ten years ago said that the u.s. economy considering its domestic and foreign economic policy is bound to face a crash like the roman empire which is where your ratings full economic players

central banks will obviously change the structure of their reserves can as dumping the u.s. treasury happen and what implications can we expect what. else is there for them in our chinese colleagues in spite of their trade surplus with the u.s. and their own willingness to revalue their currency still keep most of their funds in dollars or even though they use them actively to penetrate the development of african and asian economies to develop their infrastructure and so on. there's nowhere to go the world is established in a unique polar way you can't just get out of a marriage especially when you have kids. thank you very much. the people of the united states and the friends and allies will not live at the

mercy of an outlaw regime that's threatens the peace with weapons of mass murder his regime as an active program to acquire and develop nuclear weapons and let there be no doubt about we know for a fact there are that. this work is being carried out under the direction of dr david kay respected scientist and former u.n. inspector was leading the weapons search in iraq we are determined to take this apart you have a tremendous a group of dedicated american men and women involved in this with the best assets of the intelligence community can provide. data cheney is not going to be done with this for quite some time david kay wants more time and he says it could take another six to nine months to make a definitive finding ministration is asking congress for hundreds of millions more six hundred million dollars to fund a continuing search they have not yet found shiny pointy things that i would call a weapon before we can draw from conclusions we need to let the iraqi survey group complete its work. we were all wrong probably in my judgment.

and that is most disturbing. sometimes the true patriots takes the unpopular course but helps their country of origin stakes and even if they come this way at least they tracked patriotism is the last refuge of scoundrels and i think these are scoundrels they have no argument now they have no defense for what they did the country is in a terrible international security situation that i think is perilous so they're attacking the patriotism of others. the are. the live. the good.

news. the sun. the best. odds. download the official anti up location show on the phone the i pod touch from the i choose ops to. chauncey life on the go. see video among foxy smiling old costs an r.s.s. feeds now in the palm of your. question on the. wealthy british scientists. the title.

market why not. find out what's really happening to the global economy with mike's cars are there are no holds barred look at the global financial headlines tune into cars a report on our. plans to close a team was in the cool gun range and the farm influx from all over the world to have a few centimeters to sell conflicts this time archie goes to the more region. for the gold rush still gets people like to. try to save its culture. where cranes are protected in the first and only official nature reserve.

in the region. should close to. the headlines on the head of the e.u. calls for yet more money to be made available to struggling economies in. spain a slide towards debt distress and the cost of borrowing so. the un condemns the use of force against civilians in syria and calls on all sides to. submit continued violence all across the country. and the failed palestinian suicide bomber tells us about her new mission for peace after being caught before detonating her device she says she wants to use her second chance to promote

tolerance between israelis and palestinians. and a more news in about fifteen minutes time but now with this. thank you ari well welcome to the sports coming to live on r t let's have a look at the headlines pass ins and outs are because on progress to be champions league playoffs while the iron man glasgow rangers fresh out of the hands of not about. liverpool on vale a bunch of the summer signings while much of the city hold an open day ahead of the english premier league kick off in ten days time. and russian top flight side down three have been fined twenty thousand dollars obo gaughan steering the home league game against in leeds a fortnight ago. or because i know one step away from making the champions league

group stage after seeing all is not much in the said qualifying rounds were being went into their home lab sunil advantage and standard that lead on wednesday night . and that exceeded the digits with the goals in the two one victory while i made the soup strike right said the death was a mere consolation for it in the album so rubin and now into friday's playoff draw old. else was scottish champions rangers were dumped by moto following about town but the fair in swig chris what it is called punished with rangers down to sound man by the time it gets a lot of each of the visitors in front on twenty four minutes. both sides will be forced to play the final twenty five minutes with single figures will a wing maad to bulgaria as dangerous. and heartbreaking to be alive for rangers time and spawn tied to on its brilliance outfit sending dissuades through to the next stage to walk on maggots. in seguin meanwhile progress as expected

against drugs and sport obviously all of testing the waters before his teammate more lethal open this. putting the business up one they left in ninety minutes and three one one aggregates has though pulled one back in the second minute paul and rick is try getting the crowd a glimpse of hope for an upset. for the fifty eight minutes in as. jeff ski was sent off for a melbourne mark superior us a one one it stayed meaningless is your overly sunny fun is the can make it safely three. staying with a bit would just stand they left until the english premier league season starts a little unveiled the brand new signings on wednesday the club spent terry pool to forty three million pounds on charlie adam stewart downing and jordan henderson all midfielders and all coming from the home league adam had spans two seasons in blackpool downing moves from aston villa while hander since left some of the land

to join the reds loopholes for some a signing brazil international goalkeeper to do in iraq have done a free transfer from syrian side manage it canny dalglish seems confident that the new acquisitions will add something to the school. oh everybody did it break even and you're going to. call it the already here and here's a story it will be for a moment just to be. as well is that the tree these clubs. will stay with. the city have held an open training day ahead of this weekend's commune to show clash with cross-town rivals united star striker so here are where i was both absent and was the club's record signing fifty seven million dollar man missing recession would still have bought well to have us along with the santa cruz and problems of our lives i have yet to return from corporate america duty f.a.

cup holders city and premier league champions united go head to head well bully on sunday for the first trophy of the wish season while city's opening premier league fixture will be against new boys swans c.c.t. on aug fifteenth. well it doesn't happen too often barcelona losing by a three goal marching even in a friendly mexican plug was a lot harder of producing probably the biggest shock of preseason food bowl record crowd for a south florida football match back into the sun life stadium in miami seventy thousand pounds getting towards the really it opened the scoring for spanish and european champions barsa just four minutes in brilliantly quick fade from the strikers there but it was all downhill from then on for the catalans fabiani first let's put it beauty to equalize matters right on the our model just drifts away from guadalajara well playing more like barcelona then the catalans themselves at this stage and very rude came on sixty three minutes bobby on showing his first

effort was no fluke i've seen as sublime one definitely worth another showing. and here is the repeat of that effort two more strikes would follow for the mexicans perhaps no that's hysterical it pleasing as the first couple but they all added up to a shocking four one loss for barcelona manager i have. no doubt hoping they leave that sort of robot cross the atlantic before the primera league kicks off in three weeks time. and altogether different evening football's as old rivals railroad dreams was thrashed a local chinese side in one joe seven wanted final score in this one. as opening goal promptly followed by this effort from isn't losing in the thirty first minutes . i go fast and both hobbs for the visitors with cristiano ronaldo also getting in on the action because he gives storing with the back. all the rage these days that was the goal of the match but take a look at the next one eighteen year old yes or

a dragon scoring with a diving header of the cross from deserves a second nuke as well manage a very new seemingly happy that effort and the overall score of seventy one. now and says a mastic night isn't premier league club. she have been fined divots wednesday thousand dollars for their fans unruly behavior and improper safety measures by local police during july's game against zinni and here are some scenes from the july twenty fourth match our local fans and police attacked the spectators from petersburg one of the richest football clubs from one of the poorest russian regions will also have to play two games behind closed doors if it happens again in the next three months. and stay with a home league where sixteen girls flew in during the latest round last weekend in case you missed it we've got them all in goals goal or. live live

live live

.

and finally a squad literally an uphill battle for more than twenty climbing teams as they began their cliff conquering project in the swiss alps this week with two hundred has gone since the sounds of the human for all summit unfolding crew are setting out to repeat the feat but it's only the beginning of their journey more than four to one hundred meters to go before the ultimate goal some of the twenty three teams benefiting from stalls started help cross-country skiing world champion alex among

those perhaps that is here that's all they're authorized to had and this is just the test of the one how to then safety peaks well applied to be scaled the himalayas serving as the next stop. and it's all this hold for the moment coming up shortly is the way to stay with our team. it used to be an ideal place for a holiday doesn't change in a moment. but the lives of war are still visible. the republic is not only relieved but also shaping the future. if. it is easy to.

see.

that's.