i know what's really happening to the global economy for a no holds barred look at the global financial headlines to name two kinds of reports. put them out here with r.t.m. we are taking a look at the week's top stories as well as the latest news the guessing game is over or president in the end of a prime minister wouldn't swap jobs after the twenty twelve presidential elections pledging to continue the path of modernization and economic stability if they when . israeli army is on the move jubilation over the palestinian ended quickly turns to violence in the west bank and it worries that israel may withhold taxes punishment. and europe's top end for figures planned for inevitable greek default that's pointing to that false sliding market and spreading fears of

a double dip recession. staying on the subject of the economy r t spoke to russia's finance minister i see cauldron who discuss the country's plans for weathering future financial storms. ever we say advanced economies are about to plunge into another recession the debt crisis in europe is threatening to involve more countries it's not clear how the u.s. is going to pay off their gigantic analysts they were pretty grim picture of what's coming to find out how russia plans to deal with these developments in the world economy i'm joined by russia's finance minister i'll speak with you thank you very much for joining me on a cd and you richard hello prime minister well the reports and said russia has sustained the head of the crisis and that in fact the level of unemployment in russia now is the word and it had been before the crisis we know very well that we deserve credit for russia actually being able to withstand that various severe

financial crises from several years ago we're talking about the stabilization fund that it developed and other measures but here we see a new wave of problems in the wall the karni probably another global crisis around the corner. cannot russia withstand it using the same methods or do the methods have to change. the new wave is not yet called a crisis there are some manifestations of a crisis or a harbinger or however most economists are inclined to think there will not a new recession but slower rates of development for a lengthy period of several years or perhaps even decades this will certainly have an impact on russia's demand for all goods gas and metals will be learned at the same time we are expecting higher growth rates in russia as western experts predict to a growth rate of about three to four percent is not. really not expecting a fall in the economy like it was in two thousand and nine hundred g.d.p. literally fell by five point nine percent. there is

a more pessimistic scenario at all but most analysts tend to think i won't be a second wave of such a scary. under these conditions we still have to remain vigilant and must be ready in case of the worst tonight. we'll to apply the same methods we still have considerable reserves of those smaller but as a whole and off what we needed last time. if this is not last too long we'll be able to resolve the problem and get out of the crisis should have been longer than necessary we have to adjust our policy so far all is not being barred. we have elections coming up in russia said we're going to stay in the government if we forums are carried out what it was were you talking about and what we for and when we expect to be able to do that because the next prime minister. that was going to i'd like to say my future is not yet known i said i was ready to work in any capacity for helps promoting reforms can be quite different and not only in

government concerning reforms it's first and foremost about restructuring ranging from the pension system privatization expanding competition in our economy regulating the tariffs and liberalization of quite a number of industries where the state still prevails and price regulation. the reform of housing and communal services has not yet been completed the sector of thanks literally every citizen and then is not to be done yet it's also about giving more independent power to the regions the financial sector needs more transparency in stability as well as more monitoring of private deposits. such reforms need to be carried out pension reform as i mentioned as a priority and some cases we spend too much of public money without proper effect and health care and education where higher standards are required and the money spent should be properly commensurate with the quality expected we may not always do this properly oldies sectors it's no more benefits be a better education

a medical treatment or providing better services as a result of such reforms consequently it's necessary that the need for such new services does not mean more taxes should be proper balance. let's talk about the debt crisis that a best economy space now rushing to fix a big part of its saving airport but nevertheless right here has. cut in half the u.s. military u.s. treasury bonds why there are concerns that it's right and else that. you know we've checked this information that appeared in the press and it's not complete and accurate it was based on the question of several market players as of now we are not decreasing our exposure to u.s. securities around forty five percent of our reserves are kept and those obligations u.s. bonds at the moment are the most secure on the markets and we're not afraid to invest

in the u.s. their prices may fluctuate but there are no big risks in investing in us that there are enough of those papers on the markets that have high market liquidity and we're assured of the capability of the u.s. to pay for its obligations unused at home so we're not worried i think if the u.s. government take steps to consolidate its budget and called spending then it stability would rise and we would have no concerns over the reliability of dollar assets so of course we are waiting on the u.s. government to take such steps so they could raise taxes or cut spending but over the years we would like to see the u.s. deficit shrink over several years. the debt crisis in europe is threatening italy spain portugal do you think europe will be able to withstand the severe financial crisis without letting the eurozone collapse and in what way could a pair fall down for all over europe back to russia. european

powers have enough resources to save greece and so we're hoping they will show the will to do that and i doubt stop the spread of this contagion nonetheless these risks remain we've discussed those here at the g. twenty summit another meeting of the i.m.f. board of governors and we have called on european partners to take all necessary measures i think this is just what will happen because they can do it at the same time if the debt crisis does spread it does not affect us to notch at least directly because our banks do not hold any of the greek debt french and german banks on the other hand will suffer greatly because they will have problems on their hands and would not be periods this will cause problems within these banks problems with these credit some overall problems on these markets because banks are after all the leading players and this in turn may affect growth and this could have circumstantial facts and. i would like to stress that we will respond just

like during the latest crisis but this time the crisis will have a much smaller fact. just recently there were a heated debates are in the media about the possibility that the world's leading the emerging economies the brics nations that is brazil russia india china and south africa could throw a lifeline to europe by possibly buying their debt lots russia already has forty five percent of its reserves in euro denominated assets can it actually afford buying more of europe's bonds. the reserves are slowly growing we're buying something in addition all the. well in this case we're not going to buy bonds a risky country it's mostly we're going to invest in the bonds of the european union the european financial stability facility therefore on equal common supports to the grantees for the euro zone and in this case we're not taking the risk on the bar countries because we invest in the euro zone countries as

a whole mechanism will allow us to mobilize a result as we were ready to participate basically it's an announcement of our investment instruments and it's quite secure we're also ready to provide additional resources for the i.m.f. and through the i.m.f. help in supporting those countries so we can provide resources to the multilateral instruments beyond that for the european financial stability facility it's profitable for us it seemed vast amounts of our finances. i was listening to robert though it's speech recently the head of the world bank and he was he was talking about how the world must change essentially about the park was in the attitude of it was a highly stalwart emerging economies and this is how we put it i want to read this to you he said when countries with large fiscal deficits preach let's call this a plane to the poor countries what are they really saying or what i say not what i do when countries pay homage to free trade and hold back about ripping countries

with barriers what are they really say what i say not what i do they do what i say not what i do world will fracture it for the better in the old ways and must change do you think that is the approach that led to the country through the crisis that it bears that on its face now that threatens to affect everyone else. the way western countries are right it has become somewhat outdated has huge consumption and little investments and savings have provoked this crisis at this point most western countries are not ready to reduce their consumption and preserve the pre-crisis development pattern. this does not let them emerge from crisis and their consumption is not substantiated with real economic results as consumption is pulling them into debt so western countries have this issue and they're trying to resolve it by printing money which only delays the solution we can predict from the economic point of view of this printing of money and supporting an artificial

demand will help kick start the engine of the western economy so far this has not yet happened after all what the federal reserve system must on now we can see the situation has become worse as those measures have not been enough and one can expect the printing of money will resume i repeat this model of economic development is not perfect and it's the emerging markets and china russia and even brazil as well as a number of other countries with gold and currency reserves that lend money based on just patterns will be changed it's this pattern that led to the crisis as a matter of fact. while everyone knows that russia the clearly very much dependent world prices you said expected or price this could grow up to sixty dollars a barrel in three pro four years from now to be able withstand such a bell in oil prices and it was the news and. we expect those four will certainly cause

a decrease in our economic growth down to nearly zero or below zero but in terms of the budget policy we'll be able to cope with those within a year after which we have to adjust the policy and reduce expenditure as a whole however we are ready to provide stability for a year or two and fulfill all our duties. thank you very much. thank you. this was a city. of about one hundred ninety thousand people and we had eighty thousand people working for general motors. or drug dependent and general motors. general motors is if it's not relations you it might be your neighbor somebody you

knew so it's kind of a family run business you know myself i'm third generation my father was working there and you have a lot of two three and four generation family they were there first let's understand that. this is a man doesn't work. then he should not. it is gone who are they made into work with. i think for a long time this notion in america that bigger is better was simply an understood fact in the twenty first century smarter going to be better general motors simply became too large for their own good and so many brands that they couldn't even keep up with they just basically became a dinosaur. was. just.

one of the weapons grade plutonium is turned into a vital new recent nuclear waste becomes a fuel serenely to the environment and energy among the ends of the earth russian scientists lead the way in making these innovations a reality. free from fears of nuclear longer lives the peaceful revolution to tonic energy technology. we've. covered the british. market. find out what's really happening to the global economy. look at the global financial headlines tune in to cause a report. years ago in the largest country. to see. what.

where did it take. the guessing game is over and president and prime minister putin could swap jobs after the presidential election pledging to continue the path of modernization and economic stability if they were. israeli army is on the move jubilation over the palestinian bid quickly turns to violence in the west bank. may withhold taxes punishment. and europe's top financial figures plan for an inevitable greek default according to. follow sliding markets and spreading fears of a double dip recession. washing out to life in moscow time now for the sports update with azure.

hello there thanks for watching this post and these are the headlines three stories any here for passed on to start on top of the russian primarily. while russia into damage limitation against the r.h. of the rugby world cup. battles on paul in singapore as the red bulls drive hoses in on another well try. first in the russian premier league's an eight zero on top of the table this morning after an easy for no flushing of tom at the patrol the stadium think the fizzing really needed only four minutes to open the school for the n.h. any strike two. and twenty minutes after that romance shirokov maybe saying no for a good pass that took place. with alexandra kirk she coughed making it through a nail just before half time. tom's defense nowhere to be say and in the second

half. of added another to his fifteenth day out of the season i could win fairly janice alessi side face poor champions and wednesday. and the other game yesterday to scar hosted evolve them by scoring an early goal lead after six minutes but let minutes later bulger managed to make it one through short people off however they went down to ten men went in out get the as yet were sent off after second yellow card until the scar took full advantage islanders a go at making it she won before signature of each scored from the spot three one the final school to spare and i go second in the league can be a man face into the champions league on tuesday. well five games played taking place today in the north could reclaim second spot with a win over second bottom side previous to get of the committee face through pain. hoping to stretch their unbeaten run to fourteen games since mine and yours they

consider to charge in form kapan place brought in our chief ball cross and are still have hopes of getting into the top eight and face not to go in the other game their car welcome ross stopped. however in england to city have called munchkin i think at the top of the premier league how unite is perfect start to the season coming to an end against a with a true grown one and that meant they stay on top of the table but only on goal difference from man city have it's and while chelsea are three points behind after a four one win over swanzy chara is a hero and if it is not going for the police scoring the second goal in c. games and then being sent off for a bad tackle newcastle stay four for the win a three one win over blackburn elsewhere little called to wander around field spurs reporting behind after beating wigan and arsenal are added to the relegation zone with a three no win against bolton there while west brom on full and drew neil neil at the hawthorns but it still managed rumors that a moment and city boss man cine praised his place. at the world you are not easy

after all these billionaires. and i. see the likes of english food well and they can be more suited here was a really big and sometimes when you score the it has not been clear to him that he knew that there was a new problem going. to tell the story in their win yesterday and now on sunday queens park rangers will look to build on their recent good form against aston villa since the signing of a raft of new plays they draw at newcastle and got a three one win away it was the other be can well aston villa remain unbeaten this season but have drawn four and only one was. another news underdogs russia have yet to win a match at rugby world cup and are expected to be on the end of a heavy defeat against ireland in sunday's world cup match but the bears who are making their debut in the tournament aren't concerned in the focusing on producing their best performance so far from new zealand is richard and paul flicked. russia

play their third match of the rugby world cup on sunday against ireland who'll be looking for a big win to translate the five their place at the top of the group thanks to their excellent victory against australia earlier in the competition but russia will be a massive underdogs and realistically to go out so you know chance of trying to pull off a shot may nevertheless the players they'll be giving it their very best against. watching the usa game last night you could see that you know things such as yourselves in the usa put together quite a few phrases and really against the top class opposition and even score tries. if we can cover up having scored you know troy or straight two tries against all and they'll be a fantastic result and. i guess just perform well in consistency returning up all. the best coaching staff have made a changes to the side but lost a tree getting some of the french squad members a chance to impress and get

a feel of what it's like to play on world rugby's biggest stage and for the players it will be an excellent chance to test themselves against one of world rugby's best sides for us to prepare for this game is no different to any other games will play the world cup i mean the top competition in the world we're playing as a top side so every game is the same for us we're underdogs in almost all the games so with nothing to lose everything to prove to ourselves to the world so i just see this game as another opportunity for us to perform well to perform better than in the last few games to build our performance and maybe jujitsu to give a few surprises maybe in the name again. one man who has made the stunning fifteen is the crease if it's the petersburg native has been very impressive for the russians so far in this competition and i caught up with the russian number eight he's been one of his country's standout players so far at the rugby world cup in

new zealand and. however coming into this tournament hardly anyone knew anything about it to get a sieve of this is a really changing with every game he plays as coaches and scouts are flocking deceive a russian backer of ford. i think you have a good chance of stepping in for the sport load up into the world cup european coaches hardly paid any attention to russian players but these may change now. it's . twenty five year old complete anywhere in the back row those more at home and number eight where he put in a man of the match performance against me talons last time outs for some petersburg native fish sure to move abroad when the tournament finishes and his fellow countryman brazilian team with himself recently moved to northampton english premiership and exclusive has everything it takes succeed at the very highest level he's certainly a good enough player suits it's a playable top level in france and i'm really hoping this exposure of the world cup

will help his cause and already know that some clubs are already interested in. really hoping that things will work out for victor in the next season he will feel so even after christmas he will start in the clubs or in the press if currently plays rugby for the russian club mourner which contributes thirteen players to the playing squad here in new zealand did sort of made it a wee hard for him to keep on progressing if he stays in russia i would love to have the opportunity to play in europe but he's keeping his feet on the ground and i really want to move abroad so i'm trying to get myself noticed but i'm not going to get my hopes up too high i just need to keep on playing rugby to the best of my ability and he's relatively shiny extremely modest but there is absolutely no doubt whatsoever of executive has what it takes to play amongst the very best rugby players in the world it will be ashamed of the russian lead to lose

a player of his quality but in the long run for the existing relevant. it's vital that he gets the plane over the u.k. or france and judging by his performances so far there are going to be a number of clubs jostling to sign a player with absolutely amazing potential for russia and all of them have met once before back in two thousand and three in a world cup qualifier where the origin easy win is by a thirty five points to free russian city of krasnoyarsk before russians played on that occasion will be playing on sunday sunday's game it really will be a case of damage limitation for the russians against in our side really are one of the world's best russians they're appearing in their first ever world cup right outside these top twenty but if the russians can push the orange as hard as possible in trying and keep score it's a respectable level this will feel like a moral victory for the bears richard don't see museums like game taking place a little later but earlier today to know twenty seven point seven to put themselves

in the runners up support behind south africa that game played out in front of a six in paris and sellout crowd in oakland on the final game of sunday's argentina take on scotland in paul beat a whimper scotland would guarantee them a place in the last eight found saturday new zealand became the first team to qualify for the quarterfinals with a convincing thirty seven seven two win over france the host going head there throughout and johnson before cory jane ran in the second after a bursting run and a third try from di put the all blacks ninety three by the right. and in the second half the all blacks domination to go to a second try although france responded here with a try their own for max i'm also intercepted by the all blacks had asked for something phil williams going over in the corner to play the thirty seven seventeen when despite the loss france can still reach the last eight as the second place team. and in. the game on saturday in england took full control of

the group scoring ten tries in a six and seventy three thrashing of the nine year mark where the impression passed him by going over three times their. time formula one sebastian vettel has taken another step towards defending his world championship title after claiming pole position for the singapore grand prix this the eleventh time this season he'll start at the front of the grid and if he wins another results go his way he will be crowned world champion today red bull team mate mark webber will start second on the grid by jenson button lose hamilton make up an all mclaren second row battle admitting things could not have gone better so far. in all a perfect session and i'm very happy especially around here it's a very fun track a big challenge i mean it's very difficult so many corners such a long lead to get everything together. but i think we learned especially from you know the mistakes we've done last year in qualifying and kept their head cool and

did it today it's great you know we have both cars in the front row so let's see tomorrow it's a very very long road and that is all sport for the moment more like. can't

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