and we want to be anti-democratic anti-labor and you say that's the whole market democracy and how on earth are you ever going to have a civilized the scriptures democracy in the euro is well my view is it toxic mix very much so i mean essentially we're dealing with a neil version of plato's republic being played out in central banks i mean it's absolutely terrible there's no democracy they just follow up on a plate that she made you know i would argue that there is a real structural dimension to this crisis in other words financialization has starved of the real economy of capital and entrepreneurial energies that would have gone into innovation previously and as a consequence of that we're not seeing the deployment of as many innovative technologies as we perhaps would have in the past nor the development of the i think that you're right to a certain extent it's a false crisis but on a deeper level there is some real dimension to it as well doing the job and i don't know i've been i've been i gree i mean to your general global problem about our financially dominant you know financial services about how bad the banking sector

you know but i mean that's that's true ever like about what i said i think about a year at the year i was a currency you know it's kind of it's kind of crisis most of the way you know the sort of ha ha ha ha the gold standard be i mean i think these was working maybe imposed are severely deflationary policies or on countries that could survive it but i do think that's a separate issue what do you hate anglo merkel so much i don't hate her it's the fact that you've been beating her up although there are the programs she has bought the banking myth she says we have to give money to the banks and make them solvent if they lose all the money in the bad that make them good you've used the word financialization she doesn't she thinks that the economy needs bankers to run it in to make it work but the bankers product this depth and the reason we're in a crisis is that the debt crisis because the bankers have created debt irresponsibly she says it's nothing government to tell banks to be productive be parasitic that's the free market rip us off pay it off the free market. our job is

to give the bankers enough money so that when they make bad loans they can do everything they get paid and we're willing to sacrifice the economy year after year we're willing to sell it out so what merkel is is an american politician she can deliver her constituency to her campaign contributors and if that's the kind of politics you have a new europe then the american. system the right of the eurozone in referring to old europe the way they just. one point which is the best thought you scared of them also has to be your fair price what would suffer if you know for example i mean it's obvious to anyone that greece should default but instead greece yes one hundred seventy percent of g.d.p. it has economy contract you said this and yet it's there's absolutely no way you can be good to be passed that eventually if you talk if you are in the bottom and so most of the kind of hedge funds and they don't get repaid i said i was out on the year i know that i'd be lucky to get fifty cents on the year right. but that's a scared of the loss history of associated b.m.p.

and goes to bank of the restaurant that allowed it to happen and it would be much better for everyone if they allowed the peripheral countries to default and then if they need to rescue you could have a debate about afterwards if you. want to be. but at least at least do it i said why where everything is above board and everyone can see the figures be much better for you we have the same issue with sweden in lafayette of course the swedish banks were terrified as was the swedish government default and i think you're absolutely right matthew we need a debt writes on we have to stop maintaining this fiction that these debts are retail they're not just to just take a huge haircut everybody will know what they can so all right let's cancel the public would actually benefit from this if the banks would take a haircut but just also get back to the point michael made i mean i think what he was describing was a kind of a functional outcome of the system when michael has used an analogy or metaphor before their rather like and that is of a parasite that actually convinces its host to act in ways that it wants and so we have to that's present and that's how. this system runs in

a very parasitic fashion you have a column of this who actually control intellectual production and politicians take up on that and i think many of them think they actually are acting in the public interest so where jeff and i disagree with the europeans is that we're free marketers we believe in what adam smith adam smith said that no government has ever read that and he was right and we believe that the pretense that governments can repay the debts the banks know very well that they can't pay their debts what they want is now foreclosure time is arrived oh you can't pay give us the parthenon give us your water supply give us your tourist land this is the big graham and that's finances now doing what the military wasn't that kind of faith in smith even give you the last word i kind of like kind of finance destroying the real economy. so in this seven years i mean the assistance the peripheral countries can be paid by days he's absolutely catastrophic for these and for these economies i mean i think you know people just need to look at the figures of what's happening in places like

greece augustus the most extreme example the savings having a family in portugal and spain you know we see recessions in the u.k. the united states but this is a nine hundred thirty style session as big if they can all these countries and it's it's completely crazy is really i don't know of all in a lot of very pessimistic no it always happens when we discuss the euro i want to thank my guests here at the global policy for me and you just love it thank you very much and thanks to our viewers for watching us here arche see you next time and remember cross talk rules.

in some pieces books parties available in grocery to the euro grand hotel emerald marco polo blue they club small circles photo a little to go. crazy in the steepness madison this is jim finch

scheme we could switch to look you think of sky park you. know sort of. building bridges the british prime minister is in moscow for talks with the russian leadership after years of relations on her dark clouds. it was disputed fifty four billion euros and there's a final debate in the lower house of parliament but open protests gabby unpopular cards have already started. and power yob iran prepares to officially plug the russian build pushchair nuclear station into the main national grid the country's first atomic facility.

this is actually coming to live from moscow i'm marina josh and welcome to the program a huge chance to thaw frozen ties with russia the british prime minister is description of his official visit to moscow the first by you came here since two thousand and five times between the countries have been strained in recent years over a number of issues notably the poisoning death of a former russian security agent in london where does and he's now he's calling david cameron to visit. him he said well there's definitely a lot of issues to be ironed out between the two leaders so what exactly will be in the spotlight today. both looks like both sides are pretty much agreed to disagree right holding this meeting the show must go on that's what we're hearing from of fish. british and russian sides understand how much their partnership and cooperation really means to each other's progress especially in the financial world this is the first time since two thousand and five that the british prime minister or a british prime minister i should say has made an official visit to the russian capital

so it's been sixty years most of those years filled with longstanding sticking points and issues that the two sides just going to agree on let's not forget of course the literally yank osogbo when former russian security officer alexander litvinenko was poisoned and then died in london that led to a big standoff between the two countries the diplomatic route odd almost all levels and then after that of course a big spate on whether or not extraditions would take place british authorities narrowed down a main suspect a russian citizen alexander a andre i should say lugovoy and russian officials basically refused to extradite them because it's their policy that they don't extradite their citizens and also just recently andre lugovoy himself has said that back then he was willing to cooperate with investigators and even now he's willing to do so going as far as to say he himself is willing to sit down with david cameron and try to work things out

if you will but so that was something that really really really put a strain on relations both sides like i said understand that they need to somehow move past that it should be said as well that british authorities over the past couple of years have been very reluctant and denying extradition of russian citizens who have asylum in the u.k. they're wanted for other crimes as well as being involved in the h.b.o. case not of course is britney spears or ski and off meds as a cry of so a lot of issues that do eventually hopefully need to be worked out it doesn't look like today is going to be the day where they sit down and focus on that because we've already heard from prime minister david cameron as he gave a lecture at. a q. and a session at moscow state university saying that he believes that right now it should be business that's driving russia in the u.k. relations it looks like that is going to be the common ground on which the two sides will least begin to try to take steps towards

a reset so as you said and he said to important to move on and what other areas are there were the two sides sort of you know have the meeting of minds so to speak . for business is a big one sorry to bring it up again but it really has to be reiterated forty eight billion dollars were british investments in russia at the end of two thousand and ten and both countries understand there are enormous responsibility as major economies when it comes to the financial crisis so upon him he is going to be a big one to two countries also going to be holding olympic events in the near future of london in trying to twelve russia's sochi in twenty fourteen and then of course on the global stage the two zero zero relations have been strained to work very close together in the format of the g twenty the g eight as well as on the u.n. security council and in terms of international issues we're hearing that libya is going to be a big one of course britain along with france the two countries to really push to

try to secure that u.n. resolution to go into libya the first place there were some of the first forces in the country of course we'll know for sure what the two leaders actually touched a problem they hold a joint news conference later today at the front. all right aneesh thanks very much indeed for bringing us this update any so now where there. italy is a much disputed fifty four billion euro staring package to slash the country's crippling debt will go through a final debate at a lower house of parliament on monday it would increase taxes and cut government spending to balance the budget by two thousand and thirteen but constant changes to the plan squabbling between lawmakers has damaged people's faith in it as ira bad reports there was a town that decided it doesn't want to wait for the cuts. welcome to filipino a small town in the middle of italy but also claims to be an independent principality and to prove it it's even started printing its own money the man on the new note

says town mayor lucas a lhari now self-proclaimed prince i guess everyone dreams of being a prince when you're a little boy and so did i now i get to live that dream philip tino's going solo in protest over government plans to slash council funding he wants all towns to merge having the number of local authorities with a population of just six hundred filipino and its mayor i put the chop. it's a terrible idea because it makes no economic sense we have everything here to be autonomous and besides the neighboring towns are at least thirty kilometers away so it's not practically possible it wouldn't even save that much money most regional administrations do nothing we should get rid of them instead of italy's in deep debt one hundred twenty percent of g.d.p. the second highest in europe and unions are furious with the cuts accusing the

government of punishing those already at the poorest even some of silvio berlusconi's own allies now oppose them with amendments piling up but filipinos fed up the term and to be the next san marino a constitutional republic within italy that has no national debt a rare thing in europe methinks the town can live off its natural resources of wood and water but currently profits go to private companies there are constitutional hurdles but since autonomy is not illegal it could just be a matter of time at the moment these notes aren't legal tender they just souvenirs the plan is for two theory to be worth one euro and for this really only currency they could be spent in the shops and restaurants here business is always been so. in the sleepy town but shopkeepers hope the new money will bring new cash. i'm sure that once we start using the new currency the economic situation here will

significantly improve it will have a positive effect on tourism of course the track to meet people to the town. far from being a p.r. stunt filipino means business and berlusconi knows it he's visiting a town later this month to stave off the rebellion and he'll have a fight on his hands filipinos the source of rose water supply and the mayor is threatening to cut it off if he doesn't get what he wants to bennett's r.t. filipino italy. debt laden greece meanwhile is planning to impose a property tax acclaims will lead the country meet the demands of its lenders as a government struggles to curb their tax collectors and taxi owners have started a two day strike angry more proposed a stair the measures later we talked to greek m.p.c. most could be called low herself joining the euro zone it was detrimental to his country's financial health. with the help of the european union

greek foreign most have stopped producing can you imagine the country like greece right now can't feed its people we don't produce enough money we don't produce enough we even oil we are importing and we had skin from the good opinion that farmers were paid so that we wouldn't do anything. we've destroyed one of the main acids of our economy the investments that were made europe were only to sell germany you know what's the biggest investment it's made in greece for the past. supermarkets. and. buying german cause maybe greece borrowed a lot of money in the past ten years. from germany especially why don't you check out how much money germany has made out of greece in the past thirty years you'll

discover that it's more the more we borrow. while watch the full interview with greek m.p.c. must be called live in just twenty minutes time here on r t also ahead this hour america remembers the victims of the worst terrorist act in history a decade after the nine eleven attacks. and egypt and turkey turned their backs on israel which has warned a could soon be isolated in the region with two former allies expressing growing or examples. wealthy british soil sorry. that's not right on. market why not. come to. find out what's really happening to the global economy

with much stronger for a no holds barred look at the global financial headlines tune into a report on our. soon rich price or if you need someone from funds to freshen some. meals for instance on t.v. don't come. a healthy player one of only two survivors of the plane crash that killed almost the entire locomotive jaroslaw ice hockey team has died in hospital despite doctors efforts twenty six year old alexander died from severe burns to his body and respiratory tract the plane carrying russia's kasia hockey team crashed in central russia last week was on its way to galleries for their first game of the

season over one hundred thousand people gathered to honor the much loved players in their hometown with ceremonies also held in the native countries of foreign players a crew member from the plane is now the only survivor of the crash go to our web site r.t. dot com for more on this tragedy. iran's bushehr nuclear power plant will officially start operating when it starts to provide electricity to the national grid lawyer monday the facility which was built with russia's help came online last year russia's angy minister praised the efforts in working together and promised similar projects in the future. together would only rate income to parts when through difficulties and problems building plans and to deal with them to produce the results that are drawing the attention of the whole world i'm sure the cooperation in creating the station and the building out of nuclear energy projects will be seen as the atmosphere we

created while working together. russia has agreed to provide fuel for the plant but iran will return old span fuel to russia to ease western concerns over to iranian enrichment program their riders once again stressed its atomic ambitions are peaceful and are not aimed at building nuclear weapons. sunday was an emotional day for americans remembering the victims of the nine eleven attacks exactly ten years ago thousands gathered in new york at the new memorial at ground zero and students silence while the names of the three thousand people who died were rattled by out ten years ago a terrorist crashed hijacked planes into the twin towers of the world trade center in new york and a paragon building in washington d.c. one more plane came down in the state of pennsylvania u.s. responded with invasions in iraq and afghanistan which was hugely criticized author and journalist afshin rattansi says washington response to the attack was inadequate and will eventually backfire. i think institutional structures even in

a country as advanced as the sole superpower on earth were at fault for many people with the institutional and bureaucratic procedures didn't allow them to. tell those planes before they hit the world trade center and so forth but perhaps a bigger malays here is that all systems seem to have failed in the media because we police forces the intelligence agencies government it's as if this happens when i start to fold the response from the united states to nine eleven was was so catastrophic or wrong that. i don't get what he wants but people all around the world have been affected so badly by u.s. policy lots of people in the global south still remember how their countries have been distorted or destroyed through many ways by american i think american intervention in afghanistan. previously the soviet union has proved again and again

very dangerous for the. involved that afghanistan. the place for america to take over and i think you're more if as i say his first responsibility is to the afghanistan people. and then to the wider region not to the united states. it's so the idea that the united states can take sucker for what's happened in afghanistan i don't think so and as to democracy building democracy building needs to be created from the ground but it took a huge toll on the american economy as well and it's a sad day the sun is a sad day for those who believe in say the goals if you should be original constitution of united states of america one of the greatest ever and see how. they rise and they form a broader exclusive nine eleven stories and much more and be sure to check out our t. dot com our website and here's what's the line for you right now nearly ninety percent of our gas have no knowledge of this and camera lamp attacks against the u.s.

for the reasons why their country has been occupied for nearly a decade you know find some surprising details an exclusive video online. and ten years after the attacks what does nine eleven mean to you make your voice heard in our interactive poll on our t. dot com plus there is lots of video to check out in our you tube channel. is. your social. your own phone on called talk from the.

geology on the good. video on demand. and. now with the palm of your. on call. colonel gadhafi is remaining troops continue their resistance in the media as the rebels advance on a lot of his last strongholds with the help of nato air strikes cut off his fighters did not lay down their arms before a surrender deadline last week but the whereabouts of lidia's formerly or who valid to die in the country is still unknown one of his sons are saudi has been given refuge in neighboring this year earlier reports suggest other members of the family and some associates have also fled there but was good of you now in iran journalists to contact says nato is contradicting the initial aim of its mission.

we have now nato was the main rebel commander in tripoli who was a former friend of al qaida under so-called jihad the so this is really the big news story of today which is hardly any of the new news networks are covering the white house to learn the worst will never give up its domination of the globe without devastating and taking the rest of the world to war so it is not so doing the main lesson for us though is how do we develop our effective internationalism against aggression or for once the lessons of obviously been learned by the west because of what they've done in libya. you know gadhafi has more of a social support in libya than the taliban do in afghanistan unlike of this neighboring europe so with the resistance that is raging. in libya i think europe needs to watch its back. turkey has warned israel it faces a growing isolation in the region as a turkish prime minister has for the jewish state has recently found relations with

anger as well as cairo strained after rioters they are ransacked the israeli embassy anger swelled after israeli forces responding to a cross border militant attack mistakenly killed five egyptian police officers last month in turkey has vowed to sue is real in the international court over its blockade of gaza it's already cut all military and trade ties with a jewish state after it refused to apologize for killing nine turks in a raid on a while till last year dr jonathan spyer frond a global research in international affairs center says the role of israel in the changing middle east is diminishing. it's important to remember that there are there are approaches underway in the region right now which are in no way in which israel can in no way really exert any influence we are in the midst it might be said of the tectonic shift actually in treaty picture of the middle east the government of egypt wants to continue to have a general atmosphere of known simply to israel and so western and so ready to graduate at the same time in reality they are dependent on american support and one

of the aspects of turkey's move towards making a bid for regional leadership is once again the very distinct cooling off to put it mildly its relations with israel so these approaches is of historical magnitude which israel can't really influence israel in a certain sense is only going to be able to pursue a policy of damage limitation hoping very much to keep these relationships with egypt with as much trouble as they possibly can doesn't really matter right now exactly what israel does israel is going to be increasingly isolated it's going to be put in a very defensive situation that i think is the reality in the region we're looking forward to at the moment. now let's take a look at some other stories from around the world counting is underway in guatemala for then for actions with former military general at the paris marina thought the new leading leftist groups have warned against a return to the nation's dictatorship past but high crime rate and poverty in guatemala have left many voters seeking tough solutions analysts say lena nicknamed

the iron fist is seen as most likely to restore order and stability. plan has a new trade minister a day after the old one was sacked for calling the area around the tsunami damaged fukushima nuclear plant a town of death if she had lost his job after just a week had also joked about having radioactive clothes after visiting the area or a government spokesman yukio edano takes over the post which includes responsibility for japan's policy. and march in chile to remember the victims of dictator augusto pinochet turned violent crowd started telling police officers and the media with rocks before a full blown riots started on the streets of chile's capital santiago similar marches are held in the country every september eleventh. and the constant companions in antiwar lost lives despair and disk but the impact on nature often goes unnoticed a little later on.