a very warm welcome to you this is r.t. live from moscow a quick recap now of the weekly top job interview president yet african prime minister putin could swap jobs for the two thousand and twelve presidential election both pledging that sound will continue to work for russia. emotions are running high as palestinians bid for statehood at the u.n. with standing ovations in new york but clashes at the border in the west bank. a finnish priest is speaking out against a chechen terrorist website finds himself defrocked and disgraced his plight

ignored by the mainstream media. and a greek default is inevitable and top officials know about it the leaked reports reveal the recession could go far deeper than first. staying on the subject of the economy we spoke to russia's finance minister and he discussed the country's plans for weathering the future financial storm conversation is now. and always 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 debt 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 minister if it will be thank you very much for joining me out of syria any richer. prime

minister whether it's and said russia has sustained the head of the crisis and in fact the level of unemployment in russia now is the word and it had been before the crisis we know very well they 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 if you develop the 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. so that the new wave is not just called a crisis there are some manifestations of a crisis or a harbinger or 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 goods. at the same time we are expecting higher

growth rates in russia as western experts predict two more growth rate of three to four percent is not. a real not expecting a fall in the economy like it was in two thousand and nine. literally fell by five point nine percent. there is a more pessimistic scenario little bit more time 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 although smaller but as a whole and not like we needed last time. if this does 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 the same tired. we have elections coming up in said we're going to stay the government if we forums are carried out what with was talking about and what we for and can we expect if it

were the kind of the next prime minister. that was good i'd like to say my future is not yet known i said i was ready to work in any capacity if it helps promoting reforms can be quite different and not only on 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 community services has not yet been completed the sector affects literally every citizen and then is not to be done yet it's also going to giving more independent power to the regions the financial sector needs more transparency instability as well as more monitoring of private posits. such reforms need to be carried out pension reform as i mentioned is 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 we may not always do this properly all these sectors should show 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 should be properly balanced. let's talk about the debt crisis that advanced economy space now russia keeps a big part of its savings bonds but nevertheless russia has what portably cut in half its investment in the us treasury bonds there are concerns that it's like an elf the part of that that. you know we've checked this information that appeared in the press that's not complete and accurate it's misplaced 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 our reserves are kept in those obligations u.s. bonds at 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 not big risks in investing in u.s. debt there are enough of those papers on the markets they have high marketing criticism and we are sure of the capability of the us 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 cut spending then instability would rise and we would have no concerns over the reliability of dollar assets so of course we're 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 as a result of the debt crisis in europe is threatening italy spain portugal do you

think europe will be able to withstand a severe financial crisis without letting the eurozone collapse and in what way could a pair fall down fall of the year of back russia. you have. your opinion powers have enough resources to save greece and so we are hoping they will show the will to do that and i doubt stop the spread of this contagion nonetheless these risks remain we have to see. those here at the g. twenty summits another nice thing 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 too much of these directly because our banks do not hold any of the greek debts french and german banks on the other hand will suffer greatly because they will have columns on their homes that would not be cleared this will cause problems with him these binds

problems with these kinds of credit some overall problems on these markets because banks are after all the leading players on this in turn may affect growth underscored have circumstantial affects 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. just recently there were heated debates are in the media about the possibility that the world's leading the merging economies the brics nations that is brazil russia india china and south africa could throw a lifeline to europe by possibly buying their debt it's rough or already has forty five percent of its reserves in euro denominated assets can it actually afford buying more of europe's that bonds. or reserves are slowly growing we're buying something in addition all the time but in this case we're not going to buy bonds of risky countries 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 ground to use 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 this mechanism will allow us to mobilize all resources we're ready to participate basically it's a non-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 not enough treatments and i and that from the european financial stability facility it's profitable for us it seemed first month of our finances. i was listening to robert so it's speech recently the head of the world bank and he was he was talking about how the world last change especially about the park received in the attitude that it is the highly stalwart emerging economies and this is how we put it i want to

read this figure he said when countries with large their school deficits preach let's call this a playing to the poor countries what are they really saying do what i say now what i do when countries pay homage to free trade and hold back the power ping countries with barriers what are they when they say the what i say not what i do they do what i say not what i do world will fracture to the detriment of the old ways can and must change do you think that is the approach that led to the country through the crisis that advanced economies face there that threatens to affect everyone else. the way western countries are right it has become so no data would have huge consumption on 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 passion christers not let them emerge from crisis on their consumption is not substantiated really economic results because 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 is constricting 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 own and how we can see the situation has become worse as those measures have not been. not yet 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 good and currency reserves that lend money this on just be changed and 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 world prices you said the expected or prices will drop to sixty dollars

a barrel in three pro four years from now will russia be able to withstand such a belt in oil prices and i wish it was 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 bunch of 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 duties. thank you very much we. thank you. this was a city. of about one hundred ninety thousand people and we had thousand people

working for a journal. or a job it depended on. general motors is 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 are. two three or four generation family there and they're first let's understand that. this is about. he said. it is gone what 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 didn't get 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. which was. just. with the weapons grade plutonium is turned into a vital new resource. becomes a few of the environment energy. ins of the earth russian scientists lead the way in making these innovations a reality in a future here's a nuclear clips the peaceful revolution to college energy on technology. we've. covered.

the headlines all the week. president. could. stop at the two thousand and twelve presidential election but will continue to work for russia. emotions are running high. standing ovations in. the west bank. a finnish priest speaking out against the chechen terrorists website to from scratch with his plight being ignored by the mainstream media. officials know all about. to go even deeper than.

try to break from the weekly here and she's here now with the sporting action. hello welcome to the sport on this busy sunday and here are the top stories. on the rise moscow when four to a closet are to go for the first of five big games in the russian premier league. while all the song in sings about going back to when the system in the poll grand prix two edged closer to attaining his formula one world championship title. and bares more oil to russia suffered their third straight defeat at the rugby world cup after losing six to twelve two islands. first to football and spartak moscow have gone thaws in the table after winning four to a class and the first of five matches in russian premier league this sunday summer

signing emmanuel in many cup opened for the business in the interior striker not making this crossing only you can never go back to the found mark it was because third know his many games and just by. doubles the lead perspire sack over russia under twenty one forward to the rebound after a scrappy corner however it took the home side only minutes to pull themselves after the goal should be seen as left glaringly unmarked in the spotlight goal might make a fuss about its own mix so that they need to say stuart to the red white still of the first time they get cross from the make up setting up that one. should be it's incomplete if his grace the present lost the home and left the two left foot so soon after the restart box that ray of hope unstuck hopes if you come out of there to the penalty we play through the second side or to two spots our. goals were

a thirty eight minute goal by less in a drawer and made all the difference is down but yes it is true van edged a bottom side spot that now jake. i wore in giant striker scoring from outside the box. six three and in seven games. i'm going to pick it both consecutive defeat. elsewhere last though you know you're not sent off early in the second half so i'm not i'm not immediately scored and this is a one they'll be treated time car parts and i must go could reclaim second spot which they will ever something about and we're sort of as looking at a face rybin hoping to stretch their unbeaten ground to fourteen games since my message is you can sell it to charge. well over an england queens park rangers are taking on aston villa as the premier league with both sides looking for a window above liverpool in fifth since signing a raft of new players paraded rangers have drawn record as new castle you can stay three no when it was while i was beaten this season with four of those results with

draws. but we are now as of last in battle moved to within touching distance of defending his world championship title after the red bull driver thank his nineteenth career victory by winning the singapore grand prix the german started on pole and was really challenged as he climbs jenson button to second place fellow red bull driver mark webber was. none the wiser for his foray into some of them the best always by races to get better is one hundred twenty four points ahead second place but the standings. now to the rugby world cup and as expected russia have been heavily beaten by ireland the final score was sixty two points to twelve in russia or with the irish reclaiming top spot in. which example three reports brush over on the end of a rugby lesson from ireland and after about when it's enough to propel the origin back to the top of. the rush of a world their own worst enemies are times has very lively arash to run in some very

simple tries especially in a five minute period just before the half time break we just like experience of detroit and it's like this you just get tired at some point. lose your focus which results in mistakes it's as simple as that obvious my tribe in the first quickest sellouts of rugby world cup i mean international stadium in the roll call rule was a sea of green with around half a crowd supporting the arash weiland were on top going into the hard time break but russia showed great enterprise of a ball in hand which has won them a lot of friends here in new zealand and they would run in a couple of second half tries which were very well work to prove. and did the simple kerridge is scored on his their stable you are attacking strategy and the combinations we've been practicing for the game everything worked for two tries we scored prove that the team did their best as the substitutions came off including myself we managed to show that we can keep up with the peace but russia were undoubtedly outclassed by a very good irish side but there are

a number of positives but they can say ghana game most notably in a scrum of this was an area where they were found one team against italy but passport five days and a more than held their own it's a very very strong irish pack. the way we've played really surprised me he did pushes back in some of the scrums the water held our ground at times and it yielded results including one try and ask runs we will coordinate it we held 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 played some fantastic rugby with the ball in hand there are more than justifying their place with the best from around the globe i hope we are proving our class with each game we play it's a first world cup after all and more experienced teams have lost the 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 what about it will be back to training pitch as they prepare for their final much of a tournament against australia richard on board r.t.

router or new zealand well that game was watched back here in moscow by russia sports minister without enough. official level scrolls on. finding a loss for inspiration back. when you put your forward here is a team sport and we will always support those who are at least strengthening the spirit and teach people to work as a team a great number of young man and women started playing sports that way i want to wish good luck to them on scene as they conclude the tournament i watched a game with ireland today and they feel it alliance let me say again that they don't have much experience but on the whole you know very satisfied with the way the trains and planes and i would like to wish russian rugby good luck and fusion. sort of goes over the well in the meantime argentina edge stuff and thirteen twelve to go second behind the group they often mailbox match murray said so much when neck and neck it was like jets down hot spots twelve six oh yes that is to go

but the argentinians had other ideas with the stones that is. amazing run. i think people. here as well i mean it's hard then this would have become a one i'd say well that's in twelve years i would stay in scotland now after beating the next saturday to the chance of reaching the finals coach and he was in some ways at the extra so with. the spirit of the side here i thought it was. a really good performance but it's about being able to finish change off and carry on the best tournament. in the world and you've got to be able to finish. a side like argentina off because they're very good at staying in the game and suddenly they they were saying they're going to. well in some ways our game so moby p.g.

twenty seven points to seventy second in group d. behind south africa. and patrick macau of kenya has beaten the world record held by the great haile gebrselassie to retain the men's northen title in berlin twenty six year old finished in a time of two hours three minutes and thirty eight seconds to shape twenty one seconds off the record set by congress last week on the same course three years ago this time around here you can imagine has to retire after thirty five kilometers of the forty kilometer race into chest and tommy while running enthusiastic and out in their numbers hearing also trickled out healthy lifestyles i take your argument out at cross country and the sporting festival in the capital is just part of a day a running across russia with me and adults alike taking the running of hockey fan sports mr vitale mckown said around a million people have joined the initiative on its tenth anniversary. funny to boxing out this sunday night will see the first ever all russian world title bout as the w b o middleweight title goes up for grabs in the southern russian city of

course and robert fatton young previews the consensus. remove the most russians in professional boxing but currently no more successful movie country saw world title holder double bill middleweight. rock 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 did is one of the most dangerous ponderous in his best. enjoy last year euro placed another unbeaten fire the much heralded video jacobs but their american was humbled with a piece round stoppage that winthrop going to rock meaning by an english into the sport's elite this sunday going to sell the in russia. see of course another they can bend time so well it's time to push the limits once more your updating on

compared to the dangerous emerging market actually. it's an insert 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 miss this one it's going to be a war. that fires may have been born in the same year but it's not your son who's witnessed more ups and downs in that time the same peers but they slugger knows what it's like to suffer defeat and learn from the pain the sprawl record includes two disappointing losses in twenty four bites but he's won five in a row to make it into the title bout against iraq. trees a true sportsman and a very good boxer as to all he's got vast experience in amateur boxing and is very skilful does get weak points too and i 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 a 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 if there are to harden up the pressure and i did not address down 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 for the fallen on r.t. . i think.

from. them.