from the streets of canada. trying to corporations are. looking back without a lot from us here with me rory the headlines now hold around tripoli heavy fighting goes on in the libyan capital as rebels bombard colonel gadhafi compound by nato airstrikes rebel it claims that they control the most of the city how to captured a coffee son saif proved in a correct. secret assistance british intelligence has reportedly planned the end of game for gadhafi is regime guiding the rebels in their push on tripoli more u.k. and military personnel are said to be on standby in the mediterranean to the effort . you go e.u.

all giants flock back to libya on a red carpet laid out by a self-proclaimed new government to reward those who helped to oust gadhafi it's reignited the debate over nato is real motivation for intervening. libyans are joining in jubilation anticipating cafe's fall but skepticism that it may be too early to celebrate is just as widespread analysts point to the post revolution authority in nearby egypt which is yet to turn over power to the people . i don't know we'll look at what impact the financial difficulties of europe and america will have on the developing economies that's next and how it. that ason p. downgrade of the united states' economy has raised many questions about whether or not america will continue to be the powerhouse in the global economy and now the international monetary fund predicts that china will actually outpace the united

states economy by twenty sixteen so how is all of this going to affect the traditional players and what is the impact that it be on the so-called developing world well joining me to help get some answers on all of this is oxford educated economist and the youngest man adverts i had a world bank department he's now the chairman of india's planning commission mr monti thing ahluwalia i want to thank you so much for joining me so first of all i want to ask you is the second wave of the global financial crisis upon us i think what will happen is markets would be disrupted good. growth prospects for the card in the u.s. and europe but i don't see this as going back. and so where do we go from here who's going to fix what's going on in the world right now the wood needs to. get together to work out what's the transition what's a reasonable transition in

a world in which there will be more than one currency and where the traditional reserve currency at the moment is in a country which doesn't have a very well balanced macroeconomic situation and if there are signs in india do you think that perhaps there could be a shift in the world order and that india could be somehow gaining from what's going on in washington there is certainly a shift going on in the world there's no doubt about that i mean any medium term or long term projection suggests that japan will go relatively slowly europe may grow a little bit faster going to power the us has traditionally been viewed as a very dynamic economy is likely to grow faster than europe but the growth rate in these economies would be much less than the growth rate in the emerging market countries i mean trying to brazil so i think over time there is

a shift in economic politicking one is to asia and another way of looking at it is really the rising rate of emerging market countries but i think you're thinking of a world in which there would be a large number of relatively equal economic groups and you want to global system that can accommodate that if it can't be a global system which is run only by saying this is the center of power and everybody else must adjust and it's been said that europe has dominated the air national monetary fund in your opinion is that part of the problem or at the solution i do think that the dominance of the industrialized countries of these two institutions has to change remember that as long as europe and the united states are together. they account for almost half the votes in the army or from the world

bank so even if you made a voting system they would be able to get their candidates in providing to collaborate with each other but you don't want to system where it's assumed that one organization will be run by one country and the other will always have european and how do you think all of that has attacked it a year and personally i think the world is going through some very important structural changes and if europe is showing signs of strain i think it's appropriate that the fund should do what is necessary but it's also appropriate that europe bear a very large part of the burden and the costs and that's what's happening because the i.m.f. is working collaboratively with the european central bank on the whole i think stability is very important for all of us and so far what they've done i think is the right thing but looking ahead as new sets of problems arise i mean there's

always an issue. of fund must be not dominated by the concerns of any one part of the world should be and should be seen to be reflecting global interests and do you personally think that the euro is going to survive the creation of a single currency for europe was a pretty major and a bold and ambitious step i think is generally recognize that if you want to have a single currency it needs to be backed by a single fiscal authority now since euro zone is different countries they obviously don't have a single fiscal policy but to back a single currency they must have a very shared understanding of who's going to pay the bills if a problem arise. that will become a substitute for the single part i don't think that's been sufficiently clear i think in the first flush of you know a good feeling about the euro. there was an assumption that a lot of benefits that come to european countries from having the same currency but

not enough appreciation. and i think that's now everything so it's a challenge from europe how they're going to handle this trade in future i do feel that they need to be if you like bailed out right now because i don't think it's in anybody's interests to see a major financial collapse about moving ahead how do you stop the same problem arising ten years from now it is very important for europe to have very clear rules of behavior how are they going to deal with fiscal crises. i mean what's going to be the rule of european central bank in bailing out governments as opposed to the role of the i.m.f. so i think these are issues that the global community will have to look at and i want to ask you about china obviously china is the number one u.s. get older i believe they have around three trillion dollars that you asked that in your opinion can they make the right decision and doing that it is true that the

chinese have a very large holding to some extent if the chinese wanted to retain. parity with the dollar which was part of their strategy they would end up holding the dollar games because if they didn't hold all of their been essentially the dollar would depreciate. the renminbi would have appreciated so to some extent the trying is holding dollars that is the other side of the course of running surpluses but not actually appreciating against the current see if you're running a surplus which now you know that that period gave the world a lot of stability a lot of growth the chinese benefited i guess whether they made the right choice or not depends on whether be now addressed in a soft landing effort rather than in the highly disruptive and it's in everybody's interests including the chinese of course they're just. should be a soft landing do you think that dollars and i survive as global reserve currency

as a major currency absolutely i mean look the united states is going to remain. the dominant country globally it won't be as overwhelmingly dominant as it used to be but it certainly remain the largest economy certainly for another ten years the fact that the u.s. has free movements in and out of capital will still make it the trendsetter rather than the trying these economies the real issue is in future would people be willing to hold all their is of dollars as a general rule if you've got four major currencies it doesn't actually make said story of one. i think the in the past there's always been the assumption that other countries may address but the u.s. currency become the sort of the span of stability but i don't think can remain true once you get a lot of other current countries which have moralist similar size as the u.s.

and in your ideal world who should refereeing the global economy i think there is a lot of consensus around the world that the fund is the international institution that should be looking at these things and if there are governance problems or inadequacies. known representation in adequate amount of the newly emerging countries then those should be corrected and we should actually use this as the forum and obviously you know there is reshaping of the world economy and that happening probably can also fundamental political shift as well what do you expect from our point of view the rise of a number of emerging market countries will create a much more balance of the world economy amongst countries that were earlier seen to be dominant at my. create a greater awareness that you know they can't unilaterally decide the future of the

world and certainly countries that earlier felt that they were not part of the political decision making now feeling part of the critical distance from the ukraine i mean the third democratize asian of the globe. have positive effects because it'll make these countries behave in a more responsible manner and there's been a lot of talk about rating agencies being unaccountable despite their political influence would you make if the agency is more accountable if you could one of the fundamental areas of conflict are the rating agencies rate companies that pay them to rate them so you can generally assume that a company that pays a rating agency to rate it is hoping to get a good rating so there's a there's an element of conflict of interest if you're getting your money. from the people to whom you're giving a rating. i don't find an easy way of solving this problem but i think transparency transparency and how the ratings are gone i'm

a track record is really really you're going to be able to solve the problem and the last question i want to ask is you know a lot of people are saying that investors are going to perhaps invest more in these emerging markets if they start to walk away from u.s. treasury bonds i mean what's the planning commission short term predictions for n.p.r. in relation to everything that's going on right now the big message coming out of how the global economy is moving is that the industrialized countries are going to grow more grew more slowly whereas the emerging market countries are going to grow faster india's been growing for the last five years at about the point two percent anybody who's investing and looking around the world if they find one market is growing a little somewhere between eight and a half or nine percent another market is very good to know how to swim i mean they would be very well advised to. invest in the markets that are growing so expect on

a medium term basis that there would be an already is and will remain preferred destination for foreign investment people look at their global portfolio traditionally they've invested too much money in the industrialized world not having anticipated what the consequences of globalization it would be so over time i think they should be rebalancing a little more towards the emerging markets and within that i think india would be a very good bet all it'll certainly be interesting to see how it affected by a lot if i want to thank you so much for taking the time to talk to me thank you. as you know was sixteen years old when he committed these mines that's not to say that song so it should not be punished for his crimes sean is. no rational person

and i. have been punished is being honest and will be honest. i sours must be executed for the brutal crime committed this is a punishment this is not. imagine. that it's. because you've been immersed know me whatsoever. how i didn't come here justice. and heard the first. started small now. on my. mind that it's not.

headlines on r.t. and a battle ground tripoli heavy fighting goes on in the libyan capital as rebels from fahd connel gadhafi compound backed up by nato air strikes the rebel the claims of a controlled most of the city and has been captured gadhafi son saif a proven incorrect. secret assistance british intelligence has reportedly planned of the endgame for gadhafi is regime guiding the rebels in their push on tripoli more u.k. military personnel are said to be on standby in the mediterranean to boost the effort. eager e.u. oil giants a flock of back to libya on a red carpet laid out by a self-proclaimed new government and keen to reward those who helped to oust gadhafi it's a reignited the debate over nato is

a real motivation for into the. libyans adjoin in a jubilation anticipating khadafi is full of skepticism that it may be too early to celebrate is just as widespread analysts point to the post revolution authority in nearby egypt which has yet to turn over power to the people. right now it's time for the sports with kate. i know you will choose the afternoon sports updates thank you for joining us what's coming up. a million a fortnight and on the verge of signing cameroon and into milan striker sanyal as a making the highest paid footballer in the world. while the down arms out russia's rocky start on a warm up game at the world cup in new zealand's. new names while host the all

blacks make some surprise choices in their thirty man squad next month's tournament . but first pople and russian premier league club are expected to complete the signing of cameroon and into milan strike is sunny later later this tuesday the move would make him the highest paid player in the world with a weekly wage of around half a million dollars the club said finally agreed a fee around forty million dollars for the thirty year old according to the fee for agents probably no thirty who's helped mediate the deal inter were also get another six million happy that it was successful at the russian club as you said the african star is set to become the world's highest paid football up next in my behalf a million dollars a week off the tax which is maybe thirty million dollars a year or around something on earth and he is expected to sign a three year contract and we were forced by billionaires to live and probably most in january has already signed brazil legend the other carlos recent russian playmaker if you call. this rack let's go over there to have prolific or second

along be a strike out. so fifty seven million dollars the twenty five year old is a direct replacement for said yeah go ahead oh let's go sol to match the city last month scored a stunning forty one goals in fifty one don't support killing of a miserable seventeen in the europa league winning campaign on season. meanwhile in england months united maintains that perfect start to go joint top of the premier league after three you know when it's time to top the look of all that was missing from spain what is the twenty five year old croatian material starting to use to be linked with a move to chelsea despite his absence with his does it hold united until the hour mark and danny welbeck broke the deadlock and then fifteen minutes later forward said anderson for the second and wayne rooney heavy this in the dying minutes united now has the maximum six points from two games a long lead as much the city and moves. meanwhile also have asked the wafer to do a manager also in various too much touchline until after wednesday's champions

league playoffs second leg at huge uneasy thank you it was time guilty of contacting the gunners bench while serving another band during last one of the first leg when asked who were also fine for improper conduct and have appealed against the ban if the request is denying to think there will be forced to sit in the stands for the toy in italy which could prove crucial for the gunners after a difficult start to the season. while the second legs of other champions league qualifiers takes place this tuesday night at stake our place in the group stages of the tournament side up well afterwards and one real deficit against was we cut off buying music look to be almost there with a two goal advantage from the first leg against clinic. zagreb a full one up from their first like let's now move to the preferred travelling three gang spanish side be a way out could miss out on chances a football they don't eat. well violently are almost certain to miss out on domestic football this weekend in the league as players in spain's top two leagues

is set to strike for a second week in a row these series is a pay dispute is around two hundred players are not being paid fully by that passionate clubs demanding a wage guarantee from the league and the rights to break their contracts if they are not paid for three consecutive months this proposal has been rejected by the league holding further meetings this truce. well to try to solve this stalemate. in the product i can understand that people want to see football i have been a player until recently and i want to see football two years but i have to think about the four dollars that are having time and they don't have their salaries during cheat that is where the problem is not that it is a serious situation week that has not been solved i would like to be more opportunistic as i don't i'm not the whiners while you know the news the father of chelsea midfielder john obi mikel has been freed often kidnapped in nigeria michael obi was rescued by police officer ten days in captivity those suspected of abducting him with aerated in front of the media at

a police station in the central nigerian city of toss a mystery on his ordeal. sitting there for a minute this would move. underground. keep me miss leslie. when they see that i could not get from using it for. a very intimate people who try to. show just. sides of the subjects. now the rugby world cup is fast approaching and russia hopes to bring back the melbourne rebels star as and as for their fallen woman match against gloucester on friday. i know louche said he should be fit for the clash and will feature in a team that will be pretty much the one to face the usa in the world cup on september fifteenth russia have lost all three of their warm up games in britain so far the latest ahead forty six nineteen lost the oscar race that's not who says

he's pleased with his side's progress ahead of their first appearance to blow up. i mean while the coach of hosts new zealand believes he has a potent side for the tournament graeme henry announced his thirty man squad ahead of their trying nations clash with australia at the weekend surprise selections include the relatively inexperienced call insulate the twenty three year old will act as backup for fly half done caught a city of any city back to you has missed out and the admitting he felt for the veteran back. i see you feel for the guys missing out. because of the quality programming but now we're we're pleased because we think it's got a lot of experience and most experience to a great side and history of the game it was so great number of young. and i think real vitality. and energy as an age and i'm i mean on the outside backs. a motor sports now in the russian touring car championship has passed its midway

point out the newly refurbished track in the ancient city of because i am with both experienced under-used grabbing their piece of the spotlight a racing day includes two sessions at the national championship therefore two chances to rack up points for the overall standings the first once or defending champ in week out of top everyone else as the fifty three year old pans out from a less than perfect out in the previous late in the inaugural however he did not make the podium in the second race it was won by the young standings leader alex on the fall of retaining top spot next month's race here in moscow. and for that and as we've been talking about football twenty five goals were scored in the russian crimea league at the weekend which saw a taste test a top i'm curious about the boss and side care although his net bust as it's called . the.

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it has all the sports news for this listen i'll be back and just on the bottom so. twenty years ago not just country. disintegrates it's. what had been. speaking to germany. where did it take them.

peace treaties. to peace.