welcome back you with r.t. live from moscow i'm a real researcher and we are in the weekly. top job intrigue president where they're from prime minister putin could swap jobs offer the two thousand and twelve presidential election both pledging their time to them will continue to work for russia. emotions are running high as palestinians bid for statehood at the u.n. with us standing ovations in new york but clashes in the border in the west bank. and greek default is inevitable i do you talk officials no word leaked reports reveal the recession could go even deeper than first. staying on the subject of the

economy starting spoke to russia's finance minister alex we discussed of the country's plans for weathering the future expected financial storms. and always say advanced economies are about to plunge into another recession the debt crisis in europe is threatening to a lot more countries it's not clear how the u.s. is going to pay out their gigantic analysts give a pretty grim picture of what's coming to find out how russia close to deal with these developments in the world economy i'm joined by russia's finance minister if it will be thank you very much for joining me out of sitting in a rich hole prime minister where the europeans and 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 that period severe financial crisis from several years ago we're talking about the stabilization fund that if you 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 way it is not just called a crisis there are some out of frustrations of a crisis a harbinger however most economists are inclined to 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. at the same time we are expecting higher growth rates in russia as western experts predict too. rate of about three to four percent is not. real not expecting a fall in the economy like it was in two thousand and nine when the g.d.p.

literally fell by five point nine percent. the reason mark has a mystics and i. tend to think i want to be a second wave of such a school. under these conditions we still have to remain vigilant and must be ready in case of the worst and i. we'll to apply the same methods we still have considerable reserves although smaller but as a whole and not what we needed last time. if this does not last too long will we be able to solve the problem and get out of the crisis should have been longer than necessary we have to adjust our policy so far as not been barred. we have elections coming up in africa was said we're going to stay the government if we forums are carried out what it was we're talking about and what we're for and when we expect it with anybody within the power of the next prime minister. it was good luck to say my future is not yet known i said i was ready to work in any capacity of health promoting reforms those can be quite different are 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 affects literally every citizen and then has much to be done yet it's also about giving more independent power to the regions the financial sector needs more transparency and stability as well as more monitoring of private posits. 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 said to such on more benefits be a better education

a medical treatment avoiding better services as a result of such reforms consequently it's necessary that the need for such new services does not mean more taxes than should be proper a balance. let's talk about the debt crisis that advanced economy space now russia keeps a big part of its savings in foreign bonds but nevertheless russia has what it. cut in half its investment in the u.s. treasury bonds are there concerns that the west right and nails and it's that that is you know we've chapters information that appeared in the press and it's not complete and accurate it's displaced on the question 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 kept in those obligations us bonds of the moment are the most secure in the markets and we're not afraid to

invest in them yes their prices may fluctuate but there are no big risks in investing in u.s. debt there are enough of those papers on the markets that have high market liquidity and we are sure of the capability of the us 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 budget and cut spending then it's debility 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 can raise taxes or cut spending but over the years we would like to see the u.s. deficit shrink over several years because of the debt crisis is threatening italy spain portugal can go think of europe will be able to withstand the severe financial crisis without letting the eurozone collapse and in what way could a pair fall down over

a year of back to russia. years of. european powers have enough resources to save greece and sawyer hoping they will show the will to do that and by that stop the spread of this contagion nonetheless these risks remain we've just. those who are at the g twenty summits another meeting of the i.m.f. board of governors don't 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 not these directly because our banks do not hold any of the greek debt the french and german banks on the other hand will suffer greatly because they will have gone on their homes that would not be cleared this will cause problems within these banks problems with these kinds of credits and overall problems on these markets because banks are after all the leading players and this in turn may affect growth and this quarter of circumstantial affects a loss 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. has 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 lots rutter already has forty five percent of its reserves in euro denominated assets can it actually afford buying more of europe's. or is or is a slowly growing we are buying something in addition all the time in this case we're not going to buy bonds of risky contraries mostly we are going to invest in the bonds of the european union the european financial stability facility therefore all money could come and support to the grantees for the euro zone and in this case we are not taking the risk on the large countries because we invest in the euro

zone countries as a whole this mechanism will allow us to mobilize all of the sources we are ready to participate basically it's an argument 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 to the multilateral instruments the i.m.f. from the european financial stability facility it's profitable for us it seemed vast amount of our finances. i was listening to robert though it's a speech recently the head of the world bank and he was he was talking about how the world must change especially about the park was in the attitude of it is the colonies towards emerging economies and this is how i would put it i want to read this figure he said when countries with large this whole deficits preach let's call this a plane 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 about looking countries

with barriers what are they when they say well 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 there that threatens to affect everyone else . the way western countries are right it has become so not outdated and 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 padron christers not let them emerge from crisis on their consumption is not substantiated really konami. it's 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 when the

economic point of view is constricting of money and supporting an artificial demand will 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 and those measures have not been. 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 this on just how can so be changed it's this pattern that led to the crisis as a matter of fact. while everyone knows that russia's economy is very much dependent on oil prices you said you expected or priced this to grow up to sixty dollars a barrel in three to four years from now to be able to withstand such a barrel in oil prices. the more. we expect this fall

will certainly cause a decrease in our economic growth down to nearly zero or below zero but in terms of a budget policy we'll 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 a year or two and fulfill all our juice he's. thank you very much we can. thank you. this is a city. of about one hundred ninety thousand people. even if i was a people working for a journal. or a job that depended on general motors. general motors and if it's that relationship you it might be your neighbor or somebody you knew it was kind of

a family run business you know myself i'm third generation my father was working there and you have a lot in the three and four generation family they were there first let's understand that. this is it doesn't work. then he said. it is gone. into work. 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 you can do better general motors simply became too large for their own good it's so many brands that we couldn't even keep up with they just basically became a dinosaur. because

of the weapons grade plutonium is turned into of. the environment and energy. of the earth. making these innovations a reality. here's a nuclear clips of the peaceful revolution in comic energy on technology. wealthy british scientists. find out what's really happening to the global economy. headline news to report. this. if.

you. take. the week's top stories. president. of the two thousand and twelve presidential election. continue to work for russia. emotions are running high. but clashes at the border in the west bank. reports reveal the recession could go even.

hello welcome to the sports news on this action packed sunday and the headlines there's more all debutant russia their third straight defeat of the rugby world cup after losing sixty two twelve while a. while leading from the front is a need for last time to time to remain two points clear at the top of the russian premier league. almost there sebastian vettel started on pole with the red bull driver in touching distance of reclaiming his title as the senior program is the way. to the rugby world cup and as expected russia. by island the final score was sixty two points to twelve in russia or with the irish reclaiming top spot. which is. brush over on the end of a rugby lesson from ireland and after about when it's enough to prevail the are issued to the top of paul c.

but rusher they were their own worst enemies are times as very alive the irish to run in some very simple tries especially in a five minute period just before the half time break we just like experience of big tournament like loose you just get tired at some point and lose your focus which results in mistakes it's as simple as that of a small tribe in the third quickest to silence of the rugby world cup the international stadium in the old rule was a sea of green but around half the crowd supported me arash while and were well on top going into the half time break but russia showed great enterprise of the ball in hand which has won them a lot of friends here in new zealand and they would run in as couple of second half tries which were very well worked through but sealy our team is very simple kerridge is scored on his the stadium are attacking strategy and the combinations we've been practicing for the game everything works the two tries we scored proved that the team did their best substitutions came off including mice. we managed to show that we can keep up with the peace by russia or undoubtedly outclassed by

a very good irish side of there are a number of positives where they can say get out of the game most notably in a scrum of this was an area where they were found wanting against italy but fast forward five days and they more than held their own it's a very very strong irish back. the way we've played really surprised me they did pushes back in some of the scrums but also held our ground at times and you'll get results including one try the last crumbs we'll call united we hold firm as one man but this is still a massive learning curve for the russians but remember this is the bear's first ever world cup but they're played some fantastic rugby with the ball in hand their war but justifying their place with the best from around the globe i hope we're proving our class with each game we play it's all for us world cup after all a more experienced teams have lost a similar score to the one we did today and when you to the game but to really show some promise but russia's players will have a very well deserved break on monday and after diet will be back to training as

great affair of a very final much of a tournament against australia. d'arcy rotorua new zealand well that game is watched back here in moscow by russia's sports minister the tally not call as the top official lavished praise on the bears all says providing a lot of inspiration. for you. here is a team sport and we will always support those the strengthening the spirit and teach people to work as a team with a great number of young men and women stances plane sports that way and i want to wish good luck to you on team as they conclude the tournament i watched the game with ireland today in the alliance let me say again to be don't have much experience but on the whole they're very satisfied with the way they trained and played and i would like to wish russian rugby good luck in the future. well in the meantime argentina beat scotland thirteen points to twelve to take second. sporting group b. behind england and it was

a nail biter in wellington the sides were neck and neck before dropped calls from jackson down caught with the scots twelve six zero up with less than ten minutes to go but the argentinians had other ideas because i'm a senior in mazing run a conversion concept is that he was and rarely talks that missed what could become a life saving drop goal and thirteen twelve that's how it stayed stopped once now has to be the english on saturday have a chance of making the quarter finals coach andy robinson knows they need to have that little extra to win. the spirit of the side you know that is. a really good performance but it's about being able to finish himself and carry in the best tournament. in the world and you've got to be able to finish. a song like god in general could be a very good at staying in the game and. really world am i going to do it and here's

the other game today samoa defeated fiji twenty seven points to sevens put them in second place in through take the hindsight after press. football now a spot at moscow have gone fourth in the table after really four two in the first five matches in the russian premier league is something that three goals in the first half of the business sets the tone with plenty coppins men stretching their own feet in the run to ten straight games. rich to face after a one no winner will touch a spotlight now chase and it's the goalless i'm cora taking on stuff later tonight i'm lost it could reclaim second spots with the second bottom fiesta that of looking at the face rubin hoping to stretch their unbeaten run to fourteen games since funds are settled to charge. well on sunday as it's a base but made sure they stayed two points clear at the top with a comprehensive corner when it came to tome. big surprise elin needed only four

minutes to open the hosts twenty minutes later and off to new that the medical cliche times pass while alex and i catch a golf made it through you know just before half time. and in the second half the league's joint top scorer added another for his fifteenth goal of the season so a solid win from the john as well as his side who has poor technique translate on wednesday. while tesco also have a confidence boosting ran ahead of their champions league showdown in two interland after beating ten man vulgar three one so you do better than this are meant early on they've all got managed to score an equaliser shortly afterwards through the middle of however they were reduced in numbers when it's a game with sent off after a second yellow card they started vantage to go if they can get two one four six seven take it initially that score from the spot. three one is the final score to take a one second. while i really haven't managed to city to level on points with rivals

manchester united at the top of the premier league and i suspect the start of the season came to an end at stoke where they drew one one strikes ferguson's side stay top of the table only on goal difference from lunch to city who want to know at times radisson chelsea are three points behind on three four one when this one is a another torres was both a hero and a villain for the blues on a day which saw four red cars in the top flight the spaniard scored his second go into games and then saw red for a bad tackle newcastle stay for them and unbeaten with a three one win over ten one blackburn and sweat little paul. taught me to beat ten man we're going to one arsenal are out of the relegation zone following a three no when i get ten one both and spawn and follows a play that i call this true. formula one ounce vast in battle took another step towards defending his world championship title after the red bull driver started on pole for this sunday's. the program crane which is now on the way this was the

eleventh time the season had started at the front of the great and. the results go his way and we crowned world champion teammate mark webber at stamford second. and mr wilson made up a parent's right to fail on that. and find it about staying in the sunday night will see the first overall russian world title back. middleweight title those up for grabs in the south the russians. robert fatton and. there are more famous russians in professional boxing but currently no more successful in the country soul world title holder w b o middleweight the three broke the thirty one year old has never tasted defeat in eighteen professional belts fourteen of those coming by way of looking out leaving few observers in doubt that they committed played it is one of the most dangerous

punters in his class. enjoy last year placed in another unbeaten fire the much heralded daniel jacobs but their american was humbled with a big round stoppage and that when propelling your all living why an english into the sport's elite of a sunday in the southern russian city of course another they jam bands from soil it's time to push the limits once more here are taking on complex read the dangerous to russia it's in a certain moment for our country it is the first time ever to russians will face each other in a world title bout i'm sure both for us we'll do our best to produce high quality boxing so made a stronger man when you can't afford to miss this one it's going to be a war. the pirates may have been born in the same year but it's more if you're a son who's whitney. more ups and downs in the time this imperious board play

slugger knows what it's like to suffer a defeat and learn from the pain he sprawl 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 mutiny 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 there will expose them in the ring which you know he has got very fast hands and i like his footwork a lot he's also tough guy very physical plus he has good reflexes so his defensive skills are pretty good not perfect but still good eighteen pugilist have already found me to fear or to harden up to pressure and i do know that i stand now as a chance to rise above those might have been and he can attain a slice of this particular by the transformation from them into the beast will be

completed coverage for an unknown party. and a quick update from singapore wrong precinct sebastian vettel leading the way off the twenty four laps jenson button and. this person i think.

that's.