review the news stories of the past week is called the weekly i mean these were the headlines top job intrigue president medvedev and prime minister putin could swap jobs after twenty close presidential election pledging their time there will continue to work for russia was a big story there. also in the headlines of the week emotions running high as palestinians bid for statehood at the u.n. we're standing ovations in new york with clashes at the border the west bank. a finnish priest speaking out against the chechen terrorists website finds himself a flop in disgrace with his plight ignored by the mainstream media. and

a greek default is inevitable and the you probably know it leak reports reveal the recession could go even deeper than first feared. i would say that story next the subject of the economy he spoke to russia's finance minister alexey could renew discussed the country's plans for weathering and he future financial storms. 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 out they are dragging their analysts they were pretty grim picture of what's coming to find out how russia plans to deal with these developments in the wall the connell i'm joined by russia's finance minister i did speak with him thank you very much for joining me on the cd i need to reach alone prime minister vladimir putin said russia has sustained the head of the crisis and that 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 are 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 all the methods have to change the world. should tell you it is not just called a crisis there are some of the stations of the crisis a harbinger however most economists think there will not be a new recession but similar 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 two or three days of

a growth three to four percent is not. a real not expecting a fall in the economy like it was in two thousand and nine when the g.d.p. literally found by five point nine percent. there is a more pessimistic scenario most analysts tend to think i won't be a second wave of such a scaling. these conditions we still have to remain vigilant and must be ready and of the worst and i. to apply the same methods we still have considerable reserves although smaller but as a whole and off 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 has not been. good we have elections coming up in russia i would said we're going to stay in the government if we forums are carried out what are you talking about and what we form and we expect if maybe it becomes the next prime minister. it was because i'd like

to say my future is not yet known i said i was ready to work in any capacity of helps promote in reforms both can be quite different are 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 on liberalisation 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 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 old sectors that saw more benefits better education or 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 but should be a proper balance. let's talk about the debt crisis that advanced economy space now russia keeps a big part of its savings. but nevertheless russia has what pointedly cut in half if they were present in the u.s. treasury bonds are there are concerns that the west might and else have thought about that. you know we've checked is information that appeared in the press and that's not complete and accurate as it was 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 our reserves are kept in those obligations u.s. bonds at the moment are not secure in the markets and we're not afraid to invest in them yes their prices may fluctuate or their own or big risks in investing in u.s. debt there are enough of those papers on the markets they have high market liquidity 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 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 can 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 biggest think europe will be able to

withstand a severe financial crisis without letting the eurozone collapse and in what way could a careful downfall of your effect russia. have carried years of. european powers have enough resources to save greece and so we are hoping they will show the will to do that and why not stop the spread of this contagion on the last these risks remain we've discussed this here at the g. twenty summits and i'm missing of the i.m.f. board of governors and 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 do spread it does not affect us too much at least directly because our clients do not hold any of the greek doubts french and german banks on the other hand will suffer greatly because they will have gone on their homes and not be cleared this will cause problems with him these kinds of problems with these widespread and some overall problems on these markets because banks are after all

the leading players and this in turn may affect growth and this kind of circumstance in the tax office i would like to stress the respond just like during the latest crisis but this time the crisis will have a much smaller fact. just recently there were heated debates are in the media about the possibility that the world's leading the merging economies the great thing that is brazil russia india china south africa could throw a lifeline to europe by possibly buying their debt but russia already has forty five percent of its reserves in euro denominated assets can it actually afford buying more of europe's that bonds. or deserves and slowly growing we're buying something in a good. all the time pl 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 can come and support to

the counties for the euro zone and in this case we are not taking the risk on the bar countries because we invest in the euro zone countries as a whole this mechanism allow us to mobilize all resources we really need to participate basically it's an enlargement 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. and supporting those countries so we can provide resources through the multinational instruments the i.m.f. or the european financial stability facility it's profitable for us it seemed vast amount of our finances. i was listening to robert velux speech recently the head of the world bank and he was he was talking about how the world must change especially about the hypocrisy in the attitude of it is the colonies towards emerging economies and this is how it put it i want to read this figure he said

when countries with large physical deficits preach let's call this a plan for the poor countries what are they really saying what i say not what i do when countries pay homage to free trade and hold back the dollar playing countries with barriers what are they really say do 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 and the last change do you think that is the approach that lead to the country to the crisis that the best economy is based out that threatens to affect everyone else. the way western countries are vital has become somewhat outdated as 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. apart from this does not let them emerge from crisis and their consumption is not substantiated with really canonical 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 can't your predict from the economic point of view if this printing of money and supporting 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 has done now we can see the situation has become worse but 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 this on just patterns will be changed it's this pattern that led to the crisis as a matter of fact. while everyone else that russia's economy very much dependent on oil prices you said books back or prices will drop to sixty dollars a barrel in kuwait or four years from now able withstand such

a down in oil prices and i wish it was true news and. 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 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 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 a job that depended on general motors. general motors is if it's not

relationship 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 a lot of two three and four generation families they were their first let's understand it is that this is about me doesn't work. then he should not be. in this hall who want a. million to work but. i think for a long time this notion in america that bigger is better was simply an undisputed fact in the twenty first century smarter it's going to 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 as he became a dinosaur. which was situations just.

twenty years ago in the largest country in the surveys or to. see. what had been. meant to teach began a journey. where did it take them. we'll. bring you the latest in science technology from the realms where. we've got the future covered. more news today violence is once again flared up. these are the images being

from the streets of kandahar. trying to corporations are rooted a. top job intrigue ends presently better than prime minister putin could swap jobs after twenty twelve presidential election pledging the time that will continue to work for russia. emotions running high as palestinians bid for statehood at the u.n. and standing ovations in new york the clashes at the border in the west bank. priest speaking out against the chechen terrorist website finds himself the frog to discreate with his plight ignored by the mainstream media. and greek default is a never to top leaders know it leaked reports reveal the recession could go even deeper than first feed. the sport now.

i don't think you can join me for this force on the other headlines. on the rise must know when to a class and all to go forth while the unknown while still miss the chance of a second busy day in the russian premier league. while armstrong in saying sebastian vettel wins the crash laden singapore grand prix to the brink of retaining his wealth championship title. as moles daytimes russia suffered a third straight defeats of the rugby world cup after losing sixty two twelve to islanders. the first of all while in spartak moscow have gone fourth in the table after winning four to a cross and are an action packed sunday in the russian premier league summer signing emmanuel and many cup opened for the visitors in nigeria strike and not make her first present out goalkeeper you can brother delfin the whole school is

third goal in this many games and just five minutes later on super double delayed for spacek the former russian under twenty one forward the spurs to the rebound after a scrappy corner however it suits the home side only a minutes to pull a goal back in she was left glaringly are not in the spotlight going last and finished with aplomb but still in the first almost all instances of the day it is a restored the red wants to go advantage for the americans deft cross through in spots like tributes in completed his brace across no doubt blasting him a left footed shot soon after the restarts but that way of seeing for the hosts after the need to come out of there to the penalty in place through the second half and fourteenth in moscow somebody finished. well elsewhere a thirtieth minute goal by last seen a try or it was the difference as done trust me. edged bottom side spot that not

one mill the ivorian giant striker scoring from outside the box to give the visitors their sixth win in seven games. slipped to breath fourth consecutive defeat. and elsewhere ten men rust off one one milligram caught in a bottom half clash but this does have the mind you are young off sends off after the teenage midfielder picked up a yellow card either side of the interval second round ball but captained by one of them off immediately scored to give the stuff what proved to be the winner. and mandela also fails to reclaim second spawn tarter losing one nil in a rain drenched translating clears they're tough if they want to link up opened the home side after eleven minutes before the plan that looked like a straight first told red for dinner. like a mighty good stretch their unbeaten run under a new coach goes a conservative fourteen games despite being held one one time to regain spanish

midfielder with their netted his first goal in the russian top flight but luckily in front seven minutes after the break but the judge and levels right through this can top. while on such things they need to made sure they stay two points clear at the top with a comprehensive formula when from to tone it defies eliminated only four minutes to open and twenty minutes later the chocolates make it to know the cliche things pass . the exam because the golf made it through email just before half time. burned in the second half the league's joint top scorer added another for his fifteenth goal of the season for nail a solid win for the china sweaty side of his pool set in the champions league on wednesday. but has got the so had a confidence boost up ahead of their showdown at home to into milan after beating ten month old a three one seeded do reopened for the army men after just six minutes of old that

managed to equalise shortly afterwards through tripped up the bill off however they were reduced in numbers just after the interval you know it's a good year for sent off for a second we're going to start at full advantage as i go ever making it to one of the sixty eight minutes. netted from the spot late on to three one the final school disco they were in second. well over richard downs injury time own goal gave queens park rangers a late one one draw at times last umbrella barry bannan house put the visitors ahead from the penalty spot after fifty eight minutes then rangers hearts on one's choice sent off in stoppage time but their best in the point was done and luckily through his own net that remain unbeaten in eight p.p.r. tonight. in formula one red bull's sebastian vettel planed his nineteenth career victory in an incident packed singapore grand prix to move to the brink of retaining his world title well mclaren's lewis hamilton had to recover from

a drive through penalty to finish fifth the britain was punished for running into roy's sleeping master it has since slammed hamilton for ridden his race and seven time world champion michael schumacher emerged unscathed after a spectacular crash. levels might take tree in fourteen races means he needs just one point from the remaining five races to seal the title mathematically the only man who can beat him is jenson button and finish second has proposed mark webber ferrari's fernando alonso is false vettel is now one hundred twenty four points ahead of bottom. then one hundred twenty five a little. over a race track is noted cannery. we were in a comfortable position for most of their oath which is pretty handy around here because it's quite a big challenge to you know put this sector figure there not only qualifying also in the race as i said the place was golden i'm very pleased and for the

championship yeah looks like we have another chance at the next race. we're out of the rugby world cup and as expected russia has been beaten by ireland the final score sixty two points to twelve the us era of the irish reclaiming top spot in pool c. as much of the reports russia were on the end of a rugby lesson from ireland and i thought about when it's an article about the irish back to the top of course see the rush of a world their own worst enemies at times has been allowed 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's like these you just get tired at some point and lose your focus which results are mistakes this is simple it's obvious my tribe in the third quickest so i answered rugby world card and the international stadium in little door was a sea of green around how the crowds want to be irish while and then 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 our team is and the simple kerridge he scored on his desk debut are attacking strategy and the combinations we've been practicing for the game everything worked for two tries we scored proved that the team did their best situations 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 what they can say get out of the game most notably in the scrum this was an error. 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 he did pushes back in some of the scrums we were also held a grounder times and it yielded results including one try we'll call donated held firm as one man of a still

a massive learning curve for the russians but remember this is what there's first ever world cup they played some fantastic rugby with the ball in hand there are more than just to find their place with the best from around the globe i hope we're proving our class with each game we play it's a thirst world cup after all and more experienced teams have lost per similar score to the one we did today and when you to the game but to really show some promise by russia's players we have a very well deserved break on monday and after about it'll be back to the training pitch as great prepare for their final match of the tournament against australia richard d'arcy router or new zealand. well that game was washed back in moscow by russia's sports minister not go down to the top official praise on the bears and he says our source of inspiration back home for you where you are it is a team sport and we will always support the strengthening the spirit and teach people to work as a team a great number of young men and women start the plane sports that way and i want to

wish good luck on stream as they conclude the tournament i watched the game with ireland today and they feel like lines let me say again and they don't have much experience but on the whole they are very sense why we have waited strange and played and i would like to wish russian rugby good luck in the future. well in the meantime argentina edge scotland's thirteen twelve to go second behind england after a nail biting morning to the side who are neck and neck this world cup goals from jackson down parks put the scots twelve six up the less than ten minutes to go but the argentinians other ideas like this does a mother see now an amazing rate run wash a conversion i firmly planted homey as the king is the one point lead parts then missed what could have been a lifesaving drop bar that twelve this is how it states auckland now have to beat england next saturday have a chance reaching into finals and robinson lives that was

a bit extra to. the spirit of the side but it was. a really good performance but it's about being able to finish change off and carry in the best tournament. in the world and you've got to be able to finish. a side like gardens you know of has a very good at staying in the game and. a world semi game today. and sunday's other game somehow a bit fiji twenty seven points to seventy second and great deal behind south africa . finally after essex and patrick our kenya has beaten the world record held by the great highly got recently asked me to retain the men's martin side in berlin and twenty six year olds finished in a time of two hours three minutes and thirty eight seconds twenty one seconds off the record some are god was the last and only thing falls three years ago this time around is the so you can legend hans retired after thirty five kilometers on the

forced into the meter race chest pains. meanwhile running easy as turns out he bent on this here in moscow to promote healthy lifestyles by taking part in some of that national cross-country events a sporting festival in the capital as part of a day of running across russia with an estimated one million adults and children taking a run in the park on the events and fun of us race. and that's all sports news for .