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tv   [untitled]    August 16, 2011 5:01am-5:31am EDT

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a very warm welcome to you this is r.c. live from moscow with the french and german leaders a jew to meet in paris to have another go at stopping the year is in debt crisis from spreading all the worry is that italy and spain may be next in line to fail while france is also battling to keep its credit score from being downgraded these are no bushell reports from brussels. the magic pill that's supposed to spread the euro across the european union is something called euro bonds that in effect would transfer northern european stability to the southern states it would create a single. people could boy into the suppose it would be calm investors to show that there is a united front and the stronger states of solidarity with the we can solve them periphery countries like greece portugal also spain and italy now germany for
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reasons doesn't want to discuss it particularly at the moment it doesn't want to lose its hold the reputation as a reliable. signing up to this and it has actually said the euro bonds will play no role in the talks today some investors a bit surprised because growing numbers are saying that is the only way to save the euro now influential investors like george soros say portugal and greece should leave the euro and eurobonds or the only way out now even germany is already being sucked into this crisis its growth the growth of its economy skidded to a halt just point one percent in the second three months of this year which suggests that the euro debt crisis is even bringing down europe's biggest economy let's get some more insight from paris now political science professor peter again and joins me now live many thanks for being with us here now back in july president sarkozy and chancellor merkel working out
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a debt deal and ahead of the gear i saw it but now they're doing it again are these two alone in deciding the fate of the seventeen year as a nation. traditionally france and germany. they were the leaders in europe but you must also take into account considerations in france for the presidential election basically the german chancellor already said she was not willing to talk about. or a bunch so the meeting is in large part p.r. for the presidential elections in france if you don't discuss euro bonds or solidarity within europe it's not a crucial meeting it's it's just you know no but unity for a third of our plan for sound bites but if you don't tackle the issue that stiglitz or even soros mentioned solidarity within europe the meeting itself is a bit pointless and merkel said don't expect too much from it which means basically
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will decide and i think this is they are there. a large part of it is initiated by the french president ok well you speak there in length about what's happening in a france looking at germany now they we have some worrying news there when the economy almost stalled in the second quarter of this year is it a sign that the euro zines are driving forces down seriously under economic threats well i think right now our german authorities but not all german economists are resisting what is obvious there needs to be solidarity within the same. monetary union if you don't have a kind of compensating mechanism it cannot work and german history spirit it depends of course on it if there are efficient economic machine but also on the health of its customers and its gusta murders mostly in europe if all the customers of german products in europe collapse then germany itself would collapse so the
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idea that you know having euro bonds showing some solidarity it would be bad for germany is totally wrong this is what you know people like stiglitz are saying and to need to and so obvious germany which is very efficient it is now the only real economic and political leader in europe has to become aware that it's. in large part. also depends upon the prosperity of others and therefore not helping these others the way germany itself was helped by the marshall plan and by the us after the second world war in the end be bad for germany that for the euro and sickness even went so far as to suggest that germany itself should leave the euro which is destroying our saying that euro bonds would be bad for german no no no no no not bad it would be a good idea oh would be a good idea so you think there it might go for that because germany has repeatedly
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been forced across previously announcer red lines to save the monetary or now it is under heavy pressure on the assyrian of the zero zone bond so do you think that in will heaven on this well there's a possibility because right now our merkel has a domestic problem too some of. us have borders in the among conservatives and the so-called liberals don't want her to accept euro bonds but some german bankers are economists are suggesting that germany in germany should accept your of bonds because it's good for germany itself so there's a political problem because at this perception we have the greeks we have the portuguese and we pay for them they're lazy they don't do anything with pay for them but if you look at the economic situation it's far more complex and yes germany has shifted in the past and it's not impossible but under the pressure of facts germany would have to change again because i don't think only once the euro
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to collapse and if it doesn't want the euro to collapse then there must be some form of compensation there is something which is incredible you know in the u.s. there's only one currency for all the states whatever the economic results of the states and these results vary from state to state in europe there's one common currency but different budget policies and so on there is something which is chaotic and has existed right from the start and on that. such as george soros for example predicting that the sharing of your as a bonds could damage the financial discipline if you live within the club is what member won't actually feel the motivation to deal with the debt themselves well actually i may correct what you've just said you know yesterday i read his interview and dish beagle and i went back to it after so your questions and actually george soros is for your robot and he says if greece and portugal left your the eurozone it would be very important but of course spain and italy cannot but. like so many other basically soros is
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a capitalist is in favor of euro bombs and he feels that germany should to get lead whereas now what it's doing it's breaking the ilar towards. some sort of financial sort of narrative. reasons but germany is the main player and if something really significant is to happen germany would have to move i think the ground. as a i care peg l.n. many thanks for your thoughts. now later this hour a look at how deep debt is fueling a new gold rush across the atlantic and there's no end to the troubles with the u.s. dollar some say it's time to stop the printing press and return to precious metal. germany's dax is down two point three percent dragging with other financial markets as investors sell stocks on worries about the health of europe's largest economy in
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germany as g.d.p. figures came in lower than expected more on that in fifteen minutes time on business ulti. now the aviation world's a high flyers have arrived at an international airfield in the moscow region as this year's international air show takes off max twenty eleven promises casting edge technology for both civilian travelers and air forces while top gun pilots will put aircraft through their paces with some spectacular aerobatics test also is square filled of four r.t. tacit good to see you out there enjoying the glorious weather you're having that what's anticipated for this year's. well this is the a tenth of mack show is getting busier actually of right now of course we're expecting a lot of new technology innovations new models to be displayed here we have the latest commercial planes in the market right now i don't know if you can see behind me but it's
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a boeing dreamliner as well as the airbus a three eighty as well as soyuz superjet so all those people be have been visiting those big planes trying to see what it looks like inside also want the defense side a very big build up towards the unveiling of the u.s. a boy t. fifty you know this is a fifth generation of military fighter now fifth generation we're talking about more efficient faster and also better stealth capabilities and the only one of its kind in the market right now is the f. twenty two raptor which belongs to the u.s. air force so the t fifty is going to be in the market as the other option as you will a competitor to the f. twenty two and this is an important ground because this is where they will make their first public appearance of it has had its maiden flight in january of two thousand and ten but now it's going to be shown to the public to see what its capabilities are so who are the manufacturers expecting about one thousand jets to be produced over a forty here period now this is also important for russia because it's the first
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russian made military aircraft made. in the last twenty years in the last two decades this is really the first so a lot of anticipation and build up towards that again so we're really eager to see what can it can do up in the sky and in speaking of what can be done in the sky i mean we have we're waiting for the aerobatics team certainly what we're looking forward to are those death defying stunts we have the italian air force the french air force as well as the american side of course the russians a couple of very well known teams here the russian knights and a swift and based on what we've seen that they've done in the past so we can be sure to see something very impressive will my colleague. went along with them tagged along to see what it's like in their practice session let's have a. the atmosphere here at the cuban airfield stands for two of the most famous aerobatic teams in the world even in a dress rehearsal there's no margin for error. today is one of the last
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chances for the russians and the swiss to practice their new program ahead of the show performance. to show. the trademark nine plane diamond of two very different aircraft delighted formation. down from below the force jets looked in perfect sync but as the pilots touched down tempers run high. that's normal everybody cares we're all in the mood to work we all want to put on a great show. but these pilots don't think of themselves and the danas serving officers the flying elite hand-picked from the russian air force the technology develops. a new was being abandoned in favor of long range missiles and advanced trade. so. these demonstrations of piloting prowess just becoming a side show. i don't think so at all the real war over the chronics
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could often be jammed so we would go back to who sees whom and how they can respond to the situation our skills will never become obsolete and not to go again practicing for hours perfecting distills only a handful in the world capable of old fashioned dog fights might not be as big a part of combat as they once were but here they're keeping the lives. of. field. all states. will be out the max twenty seven ash a throughout the week will have. flight action as well as keeping touch with the movers and shakers in. hands. closer. every
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angle of approach. shape our future flights try hard to taste to the max air show. the energy giant shell says the oil spill in the north sea has been drastically reduced but ecologists when it could take twenty years to clean up it's after the anglo dutch company was forced to admit that more than two hundred tonnes of crude oil leaked into the north sea it's said to be the worst spill in british waters in more than a decade and began last wednesday but it was only acknowledged by shell today is it a go or rather adam ramsay from the u.k. based people and planet student organization think shell and the government to happen yes it will industry couple of years. i think the people who are used to dealing with cho wouldn't be surprised at all about the lack of communication it's worth remembering that it was only a few days ago that they admitted after years of lawyers and cover up their role in
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the enormous spills across nigeria so i think we certainly don't know for sure how bad it is but we do know that this is a serious spill we know for certain it is the worst spill in this country in more than a decade i've seen very little coverage of this at all and i'm saddened to say that i'm not at all surprised how little coverage there has been of this all is well as i said it's the biggest in ten years but it's important to remember that the government and the scottish government have both got long histories of being hand in hand and in the pockets of the oil industry in this country and so with the government to the only other potential monitors of this doing everything they can to keep it quiet in the shell particularly not talking about it it's not surprising that the media covering it again and again not surprising but very sad as you say a major incident really not reported in the u.k. press. of the british oil industry's track record is still in their shaky stays even though this oil spill is far less than the catastrophe in the gulf of mexico
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which happened back in april twenty ten eleven people were killed in that disaster and almost five million barrels of oil spewed into the ocean our sea has footage and coverage of that devastation it's online there are two dot com. in india not everyone's benefitting from the boom with some people tragically selling their own body parts to survive and the illegal organ trade is thriving because donors are hard to come by it's pretty sure it has been discovering. cala a room again is alone in her tiny empty apartment in chennai like many indians who struggle to make ends meet kala is constantly in debt despite selling pretty much everything she has including her own kidney and i'm not. going to grow curry he told me that i could sell my kidney i agreed because i was in a bad situation and my children were small we did not even have any food to eat when the two thousand and four tsunami hit the coast of south asia kala was one of
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hundreds of thousands of people who lost everything in order to get back on her feet she got a loan that she was later unable to repay. we had a lot of debt i had to borrow money to buy the fishing boat the people i borrowed money from started asking me for money they said they will come home and there's us if we didn't repay the money desperate and vulnerable tsunami survivors soon became the perfect targets for the illegal organ trade in india it's become known as the red market every year one hundred thousand indians need organ replacements a demand that drives an illegal supply with some organs even being sold to a small percentage of desperate transplant tourists in one thousand nine hundred four the indian government hatched a law meant to regulate organ donation in this country each recipient was supposed to get an organ from a donor who was in some way known to have even though each transplant was supposed
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to be approached by a committee of doctors it's almost impossible for anyone to stop money transactions from happening under the table in general when a recipient finds out that he or she needs an organ donor they normally approach friends or family for a match when those options are exhausted rogue doctors or hospital staff can introduce the recipient to a broker usually a former illegal donor two who can scout nearby poor neighborhoods for someone who is willing to see. well their kidney and go under the night. before through good news for the most a part of it to this guy is the law. doctors also done a blind eye to this happening to transplants from the donor to the recipient take place in the hospital simultaneously the donor ends up making a little over a thousand dollars while the brokers can profit almost double that. i went to the broker he said he will give me fifty thousand rupees for my kidney it was supposed
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to be much more but the broker cheated us the donors also frequently are robbed of their health before i used to run round and work a lot but now i can do as much work as they used to i find it difficult even to live to put on what i can go to work i have severe pain in my abdomen and my chest . and while horror stories of the red market are exchanged among locals those with no options left are forced to take extreme measures sacrificing their health just to stay alive preassure either party chennai india and more from a prison size into india on our website or lining up more news and analysis at r.t. dot com to his what's the rabid firsthand account from two survivors of the massacre on norway's of toil island just two teenagers from russia tell how they tried to stop under that have it all run page also. the soviets and military
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secrets for the chinese dragon why ukraine is seeking to sell china planes tanks and their defense systems more on that and all the other stories we're covering at r.t. dot com. now with america's debt trade on its distressed dollar more and more investors are turning to the shiny stuff gold is fetching record prices right now industry analyst scott carter told r.t. that the pressure of precious metal will continue while the u.s. struggles to get its house in order. our objective was to make the dollar stable for the world we did not achieve that and as a result what you're seeing because of the boom bust cycle inflation devaluing the currency you're seeing
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a move back to the gold standard even though it's not official you see gold increasing in value you see individuals sovereign nations and central banks purchasing gold as a way to hedge against the dollar with the dollar as the world's reserve currency there has to be some sort of consistency to its value day to day it can't be worth less tomorrow than it is today otherwise the means of which we measure goods and services is subject to the whims of the federal reserve of the u.s. and i think the world is is skeptical of that so whether we have a gold standard or not if governments don't figure out how to spend or live within their means you're going to continue to see gold take the lion's share of the increase or the appreciation and you're going to see currencies like the dollar decline in value. when america's worries have all ready and did the largest holder of its debt china now vice president joe biden heading to beijing on the reassurance mission on wednesday perfect then i used an investment advisor in hong
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kong says washington's troubles are too big for its asian partner to stop worrying china's extremely skeptical they must be very worried if i was the biggest holder of u.s. treasuries are we to because the us is in a terrible situation the budget deficit is out of control it's almost eight percent of g.d.p. the federal debt is now about ninety six percent of g.d.p. the politicians in washington don't go anywhere to get their house in order all they know is to prolong the problem to push the can down the road and as long as that is the case we are going to see severe pressure on the u.s. dollar the economies in asia generally speaking are in a lot healthier state. in the us or in europe and when mr bernanke it prints money this is the dollar value of the u.s. dollar devalues the dollar makes commodity prices go up and that causes inflationary headaches. the more international news this hour now and our friends
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of palace. have been forced to flee a un camp in the syrian port of attack here made shelling by government troops the latest military assault aimed at reducing our protesters has claimed around thirty lives since saturday activists report random gunfire raids and house to house arrest one day of the violence. itself to. have to crush the five month rising against president. and australia but arrested in the u.s. over and attack on a sydney teenager in which a fake bomb was attacked and neck. broke into the girl's family home and change the device for ten hours before a bomb squad will she wasn't hurt and the devices. those are found to contain no explosives but he still think it was next door even though initial reports for ransom demand proved wrong. israeli airstrikes on gaza on tuesday morning have
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reportedly killed one and injured several people including a five year old boy the israeli air force struck four different locations allegedly targeting hamas training bases officials claim militants were about to launch a mortar shell from one of the tel of eve also says the shelling was a response to rockets fired from gaza at beer sheva on monday. although it is business these are the way now were to be trained. hello and welcome to the business update on art scene as our channel reported earlier moscow's international air show has a kicked off the organizers expect more than ten billion dollars worth of contracts to be signed over the next few days the first deals are already there russian airline trans there are signed up to buy eight jets with a catalog price of over seven hundred million dollars christopher buckley vice president of air bus outlined his hopes for the russian market. we're very
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optimistic and enthusiastic about the russian market we still see growth continuing a little bit over five percent to five point three percent per year which is higher than the world average so for us that means that. many more aircraft in the coming years. if we can we probably like to win. between forty and fifty percent of the overall market. and even this year in two thousand and eleven we have new operators we're very proud. express. to be sold a three twenty used to trans aero if we can continue with the current rate and say grew our sales here by five to ten percent a year we'd be delighted with that. all right let's take a look at the markets and european markets are coming under pressure this is as economic growth in the seventeen countries that use the euro sagged to a lackluster quarterly rate of just point two percent in the second quarter as
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germany's expansion slowed sharply to just point one percent the dax is down two point three percent this hour therefore. here in russia pretty much the same sentiment with the r.t.s. down a half one and a half percent my sex almost two percent let's take a look at the snapshot of the market moves on the my sex gazprom along with other energy stocks is down one point eight percent this hour as oil price. those are the klein a look at them in just a second now gazprom is also reported ninety six percent growth in the net profit for the first half was to tell a call is bucking the trend it's up one point two percent after growing more than ten percent in the previous session one of the most volatile stocks last week it's all double digit walls and as burbank is down one point eight percent along with other financial stocks. crude prices are down after seeing some overnight gains in the u.s. light sweet is declining more than one dollar on worries all over the states of you
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cannot make recovery global economic recovery as these. figures for g.d.p. growth come in. and precious metals are mixed gold is up or selling is back on the stock markets up one percent silver is down one percent this hour now in corporate news gazprom has significantly bumped up its export forecast for the year that says the russian gas giant recorded a twenty one percent increase in exports volumes to non-serious countries in the second quarter italy and turkey showed the biggest growth with demand returning to pre-crisis levels the one dark spot was germany france biggest customer in europe where consumption continues to decline. the russian share holders and taking their british counterparts back to the stockholm arbitration tribe you know a are once a final ruling on whether b.p. broke the shareholder agreement by trying to organize the arctic exploration and share swap deal with rosneft corporate lawyer on their goals blood is confident has a good case. as long as they're all sniffing approaches b.p. b.p.
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should have told us never you should have approached close to. the approaches b.p. it's opened. the door for b.p. be part of the deal this is going to prove the poor that looks. headlines on next.
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more news today violence is once again flared up. again these are the images and seeing from the streets of canada. giant corporations are the day.
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everyone welcome to the hall falls now here in moscow this is all t. the german and french the disaster on the take a fresh attempt to pull europe out of economic turmoil at crucial talks and paris it's a thousand deaths you come from the same the more you're is a ball that's all fronts is worried over suffering a possible credit rating cuts. aviation these events from around the world are gathering in moscow where an f.p.o. is the stage for the nation's economy and prompt technology it's the tenth masks a show which is also renowned for its spectacular performances by russia's premier pilots. energy giant shell and the british government's being accused of trying to play down the scale of a major oil spill off the coast of scotland more than two hundred tonnes of oil is thought to have some new it into the north sea.

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