welcome back you're watching our t.v. the guessing game is over a president today had about prime minister gordon could swap jobs after the twenty twelve presidential election pledging to continue the path of modernization and economic stability if they went. palestine's un statehood bid euphoria degenerate into clashes as crowds in the west bank find themselves battling heavily armed israeli ride squads. and europe's top financial figures plan for an inevitable greek default that's according to the report that follows sliding markets against reading fears of a double dip recession. and staying on the subject of the economy r t spoke to

russia's finance minister on the stakeholder and who discussed the country's plans for weathering future financial storms. and always say the best the commies 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 that analysts give a 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 ministry i will stick with it thank you very much for joining me on if they were going to be. prime minister vladimir putin said russia has sustained the head of the crisis and in fact the level of unemployment in russia now is lower than it had been before the crisis we know very well that we deserve credit for russia actually being able to withstand a very severe financial crisis from several years ago we're talking about the

stabilization fund that if you develop there and other measures but here we see a new wave of problems in the world economy probably another global crisis around the corner cannot russia withstand it using the same methods or do the methods have to change nor will the. the u. waves not you know called a crisis there are some on a frustrations of a crisis on journeys however most economists do think there will not be 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. and the same time we're expecting higher growth rates in russia as western experts predict to growth rate of about three to four percent is not. a real 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 the fear is a more pessimistic scenario but most analysts tend to think there won't be

a second wave of some just. under these conditions we still have to remain vigilant and must be ready and the worst and i. to apply the same methods we still have considerable reserves although smaller but as a whole and not like we needed last time. and this is not last too long we'll be able to resolve the problem and get out of the prices should have been longer than necessary we have to adjust our policy so far all is not by the word go we have elections coming up in russia i just said we're going to stay in the government if we are carried out what are you talking about and what we fourth and we expect if. the next prime minister. it was like to say my future is not yet known i said i was ready to work in any capacity of help struggled in reforms or both can be quite different are not only in government for concerning reforms it's first and foremost about restructuring ranging from the

pension system privatization expanding competition in our economy regulating the tariffs on liberalization of quite a number of industries where the states still kind of a hold on price regulation and you know the reform of housing and community services has not yet been completed the sector affects literally every citizen and there is much to be done yet it's also about giving more independent power to the regions of the financial sector needs more transparency in stability as well as more monitoring of private deposits if such reforms need to be carried out pension reform as i mentioned there's a priority in 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 of course we manage always do this properly which all these sectors to chill more benefits be of better education a medical treatment avoiding better services as

a result of such reforms consequently it's necessary but the need for such new services does not mean more taxes should be proper garlands. if you let's talk about the debt crisis that advanced economy space now russia keeps a big part of it our savings in foreign bonds but nevertheless russia has what portably cut in half its investment in the us treasury bonds are there concerns that the west right and now we've got and it's that is that. we'll sort of well you know we've checked this information that appeared in the press was not complete and accurate risk based on the questioning of several market players as of now we are not decreasing our exposure to u.s. security is around forty five percent of all reserves are categories obligations u.s. bonds at the moment are the most secure in the markets and we're not afraid to understand them. yes their prices may fluctuate but there are not big risks in investing in

u.s. debt here and often those papers on the markets they have high markets and pretty and we are sure of the capability of the u.s. to pay for its obligations in years to come so we're not worried i think if the u.s. government take steps to consolidate its borders and cut spending then its stability would rise and i would have no concerns over the liability of dollar assets so of course we are waiting on the u.s. government to take such steps so they can raise taxes or cut spending but over the years we would like to see the u.s. deficit shrink over several years of christmas with the debt crisis in europe is threatening italy spain portugal a good thing europe will be able to withstand a severe financial crisis without letting the eurozone collapse and in what way could a careful balance of the euro affect russia. years of we were. in powers of enough resources to save greece so we are hoping they will show the will

to do that and i doubt stop the spread of this contagion other than the last these risks remain we've just. those here at the g. twenty summit another meeting of the i.m.f. former governors and we have called a newer playing partners to take all necessary measures i think this is just what will happen because they come due it's the same time if the debt crisis does spread it does not affect us too much of these directly because our banks do not hold any of the three. the french and german banks on the other hand will suffer greatly because they will help homes on their homes the good market periods this will cause problems within these clients problems with these kinds of credit some overall problems on these markets because banks are after all the leading players and this in turn may affect both underscore of circumstance and effects on us but 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 effect should lose an instant just recently there were heated

debates in the media about the possibility that the world's leading 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 thoughts russia already has forty five percent of its reserves in euro denominated assets and it actually afford buying more of europe's debt bonds which go to sure. serbs are slowly growing we're buying something in addition all the time in this case we're not going to buy bonds a risky contracts that mostly we're going to invest in the bonds of the european union the european financial stability facility therefore all money could come and support to the counties for the euro zone and in this case we are not taking the risk on the far countries because we invest in the eurozone countries as a whole that this mechanism will allow us to mobilize all the sources we are 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 from the i.m.f. and through the i.m.f. open supporting those countries so we can provide resources through the not enough real instruments the i.m.f. from the european financial stability facility it's profitable for us it seems vast majority of finances. as. i was listening to robert alex speak recently the head of the world bank and he was he was talking about how the world must change essentially about the hypocrisy in the attitude of it is the economy stalwarts are doing economy so this is how it put it i want to break this figure he said when countries with large scale deficits preach let's call this a plan for the poor countries what are they really saying do what i say not what i do when countries pay homage to free trade and hold back the galloping 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 i must change do you think that is the approach that lead to the country to the crises that advanced economies based there that threatens to affect everyone else. the way western countries are vital has become so not outdated and 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 path from this does not let them emerge from crisis on their consumption is not substantiated with really common results this 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't predict from the economic point of view is distributing our money and supporting an artificial demand to help kick start the engine of the western economy so far this is not yet

happened after all what the federal reserve system must on now we can see the situation has become worse because those measures have not been. not 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 in china russia and even brazil as well as a number of other countries with gold and currency reserves that lend money to this on just part from should be changed it's this pattern that led to the crisis as a matter of fact. well everyone knows that russia's economy is very much dependent on oil prices and you said spec it or prices for sixty dollars a barrel in three to four years from now will russia be able to withstand such a down in oil prices and i wish there was true news and we're we expect this fall will certainly cause a decrease in our economic growth down to near zero or below zero but in terms of

a bunch of policy it would be able to cope with this 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 the year or to 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 a job that depended on general motors. general motors is if it's not relations you it might be your neighbor or somebody you knew so it's kind of a family run business myself i'm third generation my father was working there and

you have a lot of two three and four generation families there their first let's understand that it is this is it doesn't have. any ship. it is gone toward a. million to work. and i think for a long time this notion in america that bigger was better was simply an undisputed fact in the twenty first century smarter generally 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. is that. one of the weapons grade plutonium is turned into

a vital new resources nuclear waste becomes a fuel friendly to the environment and energy outposts among the ends of the earth russian scientists lead the way in making these innovations a reality the future of green for the fears of nuclear apocalypse the peaceful revolution in college energy on technology obviously we've. covered. years ago this country. to certain places because. if. you can't. speak. for where did it take. more news today violence is once again flared up. and these are the images and

seeing from the streets of canada. for today. the guessing game is over a president even prime minister putin could swap jobs after the twenty twelve presidential election pledging to continue the path of modernization and economic stability if they would. he's really armies on the move jubilation over the palestinian bid quickly turns to violence in the west bank and worries that israel may withhold taxes for punishment. and europe's top financial figures plan for an inevitable greek default that's according to reports follows sliding markets and spreading fears of a double dip recession. and time now for sports update with any farmer to go away.

then i started a company base is what is coming up russia around the end of another healthy defeated the rugby world cup is that basil moved by the r.h. . plus three stories in a head for the past strong to stay on top of the russian premier league. and battles on poland singapore's and red bull driver closes in on another world title now the rugby world cup as expected russia are being heavily beaten by island it is fifty seven points to twelve rotaru with the ari set to reclaim top spot in pool c. three tries in three minutes at the end of the first half so they are actually thirty six in the break on the stack and russia have pursued some pride she tries from acumen and simply give each and a conversion from bratschenkopf for them reduce the deficit to forty three twelve midway through the second period all die while in school two more tries from the

scores fifty seven twelve just seconds left bat thirty three twenty seven points to seventh with them in the runners up fourteen group these are high in south africa and the final day game on sunday sees argentina taking on scotland in pool be a win for scotland will guarantee them a place in the last. one on saturday new zealand became the first team to qualify for the quarter finals with a convincing thirty seven seventeen when i was france the host going ahead to adam johnson for the first try people corey jane ran in the second after a bursting run i heard a try from black's ninety three had by the break in the second half domination continued got a second try and although france responded with one of their own here might see more through the set of the all blacks did have the last laugh sending phil williams really corner to complete. thirty seven seventeen when i despite last runs

to still reach the last i said i see like if they keep trying to run your big game hence i say england took full control of three base going to ten tries in a sixty seven treats fashionable mania month queso and first ashton place getting iraq three times that fans. tend to football and in the russian prime legs any stay on top of the table after an easy falling off rushing of tom at the trough stadium yesterday big to physically needing only four minutes to write the school says any . plan twenty minutes later romance should've called made it seem pretty awesome to me police. alexandra because you called making it rain just before half time. where all that's on the fenders in the second half the he added another voice this being told of the season an easy topic page called a good win for the giants lefty side effects champions league on wednesday. while

cisco hosted boulder would merely go off the six minutes for him to stop in letterman's lights and all that good money for making one one for show people off however they went down to ten men went in i'll get a gauge here sent off after a second yellow card and to start it full advantage does it go of making it she won here before so you gave the national school from the sports i three one the final score the army man placed into the champions league on change that. for all five games taking place today in drama could reclaim second spot with a win over second bottom side chris of yet so lucky might say face rubin hoping to stretch their unbeaten run to fourteen games since manager jose garcia charge informs the band play spot him out while crossing the bastille have high hopes of getting into the top eight and face thought that most guys and any other game that i am cut off welcome rushed off but i've been england bunch to city have. caught weinstein i did at the top of the premier li united perfect start to the season

coming to an end against eight yesterday with a three one one announcement they stay on top of the table only difference for man city habits and senior chelsea are three points behind after a four one win over swanzy mature as a hero and a villain for the place they're scoring a second goal in these many games and then being sent off for a bad tackle newcastle state for the when i three one win i will play elsewhere little colby bulls at anfield. after beating we're going to an arsenal i said the relegation zone drift three no win against bolton called west brom and fallen through new deal out of all forms but it's still manchester rule the top of the league and it's city boss man cheney prices brags. that he was difficult because a for me we played very well they went from different for all their games. it was not easy for us to find the solution to trying this be. this game really

difficult but here we. are four months i mean it's. in the end. we have to win this game. prayers. among top flight today which is part rangers will look to build on their recent good form against villa since the signing of a raft of new plays they'd thrown in the past on got a three one win away with bulldogs the other weight but aston villa remain unbeaten this season but have drawn four of gangs and of only one month's. time to boxing ready to middleweight title will be at stake this sunday night in the southern russian city of krasnodar and whoever wins it will be a russian boxer who will how the champions belt in the end. has more. to remove the most russians in professional boxing but currently no more successful the country saw the world title home. w b o middleweight can be tricky rock

the thirty one year old has never tasted defeat in eighteen professional belts fourteen of those coming by way of new york out leading you observers in del that. is one of the most dangerous punters in his class. in july last year you know placed in another unbeaten fire the much heralded then you'll jacobs but the american was how moved with the fifth round stoppage that when propelling piro meeting by an english into the sport's elite they sunday in the southern russian city of course now that they can vent on so well it's time to push the limits once more they're all taking on competitor at the dangerous in that the market russia thing will work its in a certain moment for our country as it's the first time ever to russians will face each other in a world title bout i'm sure both of us will do our best to produce high quality boxing so made

a strong demand when you can't afford to me speace one it's going to be a war with. pirates may have been born in the same year but it's more to push witness more ups and downs in the time this imperious bald faced slugger knows what it's like to suffer defeat and learn from the pain he's for record includes two disappointing losses in twenty four fights but he's won five in a row to make it into the title belt against iraq. miters a true sportsman and a very good boxer is tall he's got vast experience a number should boxing and is very skillful there's got weak points too and i will expose them in the ring which and before you know he has got very fast hands and i like his from talk a lot he's also a tough guy very physical plus he has good reflexes so his defensive skills are pretty good not perfect but still goods and. pugilist have already. do

hard not to brag you know to my grandson now is the chance to rise above those much of beads and if you can attain a slice of this particular by transformation from bamiyan to the beast will be completed over but only on r.t. the big contest now in formula one sebastian vettel has taken another step towards the pending his world championship title after playing pole position for the singapore grand prix this is 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 again red bull to make mark webber start second by jenson button and news hamilton make up in all my car and second row better admitting things could not have gone better so far. all in all a perfect session and i'm very happy especially around here it's a very fun track picture i mean it's very difficult so many corners such a long up to get everything together. i think we learned especially from you know the mistakes we've done last year in qualifying

a couple had at school and yeah. 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 finally golf store championship out and scott has a one shot lead at the halfway stage in atlanta and leads the race to finish on top of the fed ex rankings for a ten million dollars bonus didn't start too well before a run of four birdies to end the second round with a sixty five just behind him is south korea's k.j. choi while two shots off the lead is england's world number one luke donald and if he wins here in atlanta he will finish top of the fed ex rankings himself to win that ten million dollar prize. now it's time to tell you that sort of full time score motor on in sixty two russia twelve that is russia's third defeat at the rugby world cup we'll have more details

and i'll explain it. this is a city. of about one hundred ninety thousand people you know we had he founded and people working for general motors. or a job that depended on general motors. general motors if it's not relation to you it might be your neighbor or somebody you knew it was kind of 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 families are there first let's understand it

is that this is a whole new doesn't work. and he said. it is gone who want a man to work with. i think for a long time this notion in america that bigger was better was simply an undisputed fact in the twenty first century smarter better general motors simply became too large for their own good it's so many brands the three couldn't even keep up with they just basically became a dinosaur. petey's

. fifty two feet. deep.