it leaks reports reveal the recession could go even deeper than that speed. and staying on the subject of the economy all these folks are russia's finance minister say could ring to discuss the country's plans for weathering 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 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. thank you very much for joining me out of sitting at the beach hello 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're talking about the stabilization fund that if you developed and other measures but here with 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. should the new wave is not yet called a crisis there are some of the stations of a crisis a harbinger however most economists 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 demand for all goods. at the same time we are expecting higher growth rates in russia as western experts predict too or growth rate of about three to four percent is not bombs and we are not expecting a fall in the economy like it was in two thousand and nine hundred g.d.p.

literally fell by five point nine percent. there is a more pessimistic scenario most analysts tend to think i won't be a second wave of such as. under these conditions we still have to remain vigilant and must be ready in case of the worst tomorrow. you know 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'll have to adjust our policy so far all has not been barred. we have elections coming up in russia and said we're going to stay in the government if we forums are carried out what are you talking about and what we're for and when we expect if anybody whether because the next prime minister. would. like to say my future is not yet known i said i was ready to work in any capacity if it helps

promoting reforms those can be quite different and not only in government concerning reforms it's first and foremost about restructuring ranging from the pension system privatization expanding competition in our economy regulating the tariffs on 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 there is 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 deposits. 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 to chill more benefits be a better education

a medical treatment or providing better services as a result of such reforms consequently it's necessary that the need for such new services does not mean more taxes should be proper a balance. let's talk about the debt crisis that advanced economies face now russia keeps a big part of it savings pour in bonds but nevertheless russia has what portably cut in half its investment in the us treasury bonds are there concerns that the west might announce before and it's that. you know we've checked this information that appeared in the press and it's not complete and accurate. on the questioning of several market players as of now we are not decreasing our exposure to u.s. securities around forty five percent of our reserves are kept 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 no 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 of 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 could raise taxes or cut spending but over the years we would like to see the u.s. deficit shrink over several years. the debt crisis in europe is threatening italy spain portugal do you think europe will be able to withstand the severe financial crisis without letting the eurozone collapse and in what way could a pair fall down fall of your effect russia. european

powers have enough resources to save greece and so we are hoping they will show the will to do that and by that stop the spread of this contagion nonetheless these risks remain we've discussed this here at the g twenty summits and i think meeting of the i.m.f. board of governors and we have called in european partners to take all necessary measures i think this is just what will happen because they come do it at the same time if the debt crisis do spread it does not affect us too much at least directly because our banks do not hold any of the greek debt french and german banks on the other hand will suffer greatly because they will have qualms on their homes that would not be cleared this will cause problems within these banks problems with these funds credit some overall problems on these markets because banks are after all the leading players on this in turn may affect growth and this could have circumstance in the fact 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 fact. just recently there were heated debates 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 bods russia already has forty five percent of its reserves in euro dominated assets can it actually afford buying more of europe's debt bonds. or reserves are slowly growing we're buying something in a ditch. 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 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 will allow us to mobilize our resources we are ready to participate basically it's an announcement of our investment instruments and it's quite secure we are also ready to provide additional resources for the i.m.f. and through the i.m.f. help in supporting those countries so we can provide resources through the multi not real 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 alex's speech recently the head of the 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 fiscal deficits preach let's call this a plan to the poor countries what are they really saying do what i say not what i

do when countries pay home which to free trade and hold back the vela ping countries with barriers what are they really 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 to the crisis that advanced economies face now that threatens to affect everyone else . the way western countries are vital has become somewhat outdated has huge consumption and little investments and savings have provoked this crisis at this point most western countries are not ready to reduce their consumption and preserve the pre-crisis development. this does not lead to marriage from crisis and their consumption is not substantiated with really cannot make results because consumption is pulling them into debt so western countries have this issue and they are trying to resolve it by printing money which only delays the solution we can't

yet predict from the economic point of view if this printing of money and supporting of 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 is done now we can see the situation has become worse because 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 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 patterns will 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 and you said the expected or prices will drop to sixty dollars a barrel in through april four years from now to be able to withstand such a battle in oil prices. 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. well going into the future of the weapons grade plutonium is turned into a vital new resources nuclear waste becomes a fuel friendly to the environment and energy outposts a lot of the ends of the earth russian scientists lead the way in making these innovations a reality in the mansion

a future of free from fears of nuclear of stronger lives the peaceful revolution in atomic energy on technology update we've got the future covered. for. russia to be soon which brightened if you knew about song from phones to christians. who screws down totty dot com. culture is that so much i'm afraid we're going to

make it a lot of people a very unfair look at is it time to rethink capitalism as we know it today should the world still rely on markets to generate wealth when the rich only get richer and. wealthy british style roads and. markets why not scandals. find out what's really happening to the global economy in the kinds of reports on. the mission free accreditation free transport charges free the maintenance of free risk. three. three. three bloggers in video for your media project a free media oh god r t dot com. president

prevented this peculation about russia posing prime minister vladimir putin to run for office in the twenty club elections but that if in turn promises to continue his modernization agenda as prime minister and his successor leaves the united russia party to victory in elementary elections in december. the palestinian bid for statehood is closed with the united nations welcomed with standing ovations at the general assembly in new york but violent clashes with israeli forces at the border in the west bank. also finished greece today speaking out against the chechen terrorists website finds himself a defrocked and just grazed. ignored by the mainstream media. and greek default is inevitable and do you top officials know it leaked reports reveal the recession could go even deeper. as the headlines up next state sports news with kate.

and i thank you for joining me for the sports headlines on the rise spartak moscow win for two a class nadal to go forth while the unknown was still missed the chance to go second on a busy day in the russian premier league. while on the song in the same sebastian vettel wins the crash laden singapore grand prix to move to the brink of retaining his well championship title. and baz molds debutantes russia suffered a third straight defeat at the rugby world cup after losing sixty two twelve to ireland. with first of all all in spartak moscow have gone fourth in the table after winning four two at clowes and are on an action packed sunday in the russian premier league summer signing emmanuel america opened for the visit just in nigeria strike and not make how close goalkeeper you can go to those in the hall to school

his third goal in his many games and just five minutes later that double delayed for spots x. the former russian on the twenty one forward was first to the rebound after a scrappy corner however it took the home side only a minute to pull a goal back if kinship beats him was left glaringly unlocked in the spotlight gone last and finished with aplomb but still in the first term of holland and so they need to say restored the red wants to go advantage from americans death to cross through in spots like tributes him completed his brace across no doubt blasting him a left footed shot soon after the restarts. that ray of hope we're seeing for the hosts after the meets recount battle from there to the penalty in place through the second half for two to moscow side finished. well elsewhere a thirtieth minute goal by last seen a try or it was the difference as down to tresco. edged bottom side spotlight now to one mill the ivorian giant striker scoring from outside the box to give the

visitors their sixth win seven games on the chick slipped to their fourth consecutive defeat. and elsewhere ten men rust off one one miller time caught in a bottom half clash the visitors had the mind yet all young off sent off after the teenage midfielder picked up a yellow card either side of the interval second for handball but captained by one of them off immediately scored to give a stuff what proved to be the winner. ten man down moscow fails to reclaim second spahn tough to losing one nil in a rain drenched match and struggling clear so that off for the day corner opened for the home side after eleven minutes before that the plan that clicked and straight first hole thread for dinner. like a mighty good stretch their unbeaten run under a new coach chose a coup serotta fourteen games despite being held one one time to regain spanish midfielder. netted his first goal in the russian top flight but luckily in front

seven minutes after the break. but the judge unleveled midway through the second half. while on somethings in each made sure they stage two points clear at the top with a comprehensive formula when at from to tone it defies only needed only four minutes to open twenty minutes later chad office made it to know the people can she says pass. the exam because your golf made it three no just before half time i turned in the second half the league's joint top scorer added another for his fifteenth goal of the season for now a solid win for the china sweaty side he has put out in the champions league on wednesday. while tesco also had a confidence booster ahead of their showdown at home to inter milan after beating ten month old got three one say didn't do reopened for the army men after just six minutes of all that managed to equalise shortly afterwards through the bill off

however they were reduced in numbers just after the interval you know get together for sent off for a second looking test that took full advantage and so i go after making it to one of the sixty eight minutes. that gave me shape which netted from the spot late on to three won the final school disco they were in second. while over each of dunn's injury time own goal gave queens park rangers a late one one draw at home to aston villa barry bannan has put the visitors ahead from the penalty spot after fifty eight minutes then rangers had commons try henri sent off in stoppage time but they rescued a point it's done and luckily for through his own net that remain unbeaten in eight p.p.r. a night. in formula one red bull sebastian vettel primed his nineteenth career victory in an incident packed singapore grand prix to move to the brink of retaining his world title well my talents lewis hamilton had to recover from a drive through penalty to finish fifth the britain was punished for running into

flow is philippe massa it has since slammed hamilton for written. his race and seven time world champion michael schumacher emerged unscathed after a spectacular crash. that also night's victory in fourteen races means he needs just one point in the remaining five races to seal the title mathematically the only man who can beat him is jenson button who finished second headed ripples mark webber ferrari's fernando alonso was forced bethel is now one hundred twenty four points ahead of button with them one hundred twenty five still available for a season he has finished first or second in every race except his native germany where he was false. we were in a comfortable position for most of the race which is pretty handy around here because it's quite a big challenge to you know put the sectors together not only qualifying also in the rows as a set the pace was good and i'm very pleased and for the championship yeah looks

like we have another chance at the next race. well into their own the world cup and as expected russia have been heavily beaten by ireland the final score sixty two points to twelve in russia or the irish week claiming top spot in pool see which of them profit reports russia were on the end of a rugby lesson from ireland and after about when it's enough to prevail the are issue back to the top of pool see what russia they were their own worst enemies at times has be allowed to run in some very simple tries especially in a five minute period just before half time break we just like experience of big tournament's like this you just get tired at some point and lose your focus which results in mistakes it's a simple as that it's obvious much had been the first quickest to sell out of rugby world cup i mean international stadium in the rotorua was a sea of green but around half the crowd supporting the arash weiland 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 a couple of second half tries which were very well worked through our team if andy's simple kerridge scored on his 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 that's 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 take 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 again some very very strong irish back. the way we played really surprised me they did pushes back in some of the scrums we were also held a grounded times and it yielded results including one try. called united we held firm as one man of us 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 the reward. to find their place with the best from around the globe i hope we're proving our class with each game we play itself first 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 but russia's players will have a very well deserved break on monday and out of and it will be back to training pitch as they prepare for their final much of the tournament against australia richard dotty router or new zealand. well that game was watched back in moscow by russia's sports minister vitaly mutko and the top official heaped praise on the bass and he says our source of inspiration back home for you by your forward is a team sport and we will always support those they strengthen the spirit and teach people to work as a team a great number of young men and women started playing sports that way and i want to wish good luck too on seem as they conclude the tournament i watched

a game with ireland today and they feel like lions let me say again that they 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 edge scotland thirteen twelve to go second behind england after a nail biting match running to the side who are neck and neck the full dropped balls from the way jackson and dan parks' put the scot twelve six up the less than ten minutes to go but the argentinians had other ideas because one size another singer with an amazing late run push a conversion by philippe company gave the pianist the one point lead parts then missed what could have been a lifesaving drop go to twelve that's how it states then now have to beat england next saturday have a chance reaching into finals and robinson wires that a bit extra to i 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. in the best tournament. in the world and you've got to be able to finish. a side like garden to know of because they are very good at staying in the game and. they do world semi going today. and sunday's other games some other big fiji twenty seven points to seventy a second in quick behind south africa. finally athletics and patrick macao of kenya has beaten the world record held by the great haile gebrselassie to retain the men's marzan title in berlin the twenty six year old finished in a time of two hours three minutes and thirty eight seconds shaved twenty one seconds off the record set by god was the last thing on the same course three years ago this time around the city open legend hans retired after thirty five kilometers on the fourteenth with me to race into chest pains. i mean while running he was

asked turned out he then numbers here in moscow to promote healthier lifestyles by taking part in an amateur at national cross country event the 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 tenth anniversary. and that's all sports news by then.

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told children trigger as president made very different prime minister putin could swarm jones after the twenty twelve presidential election pledging that tondo will continue to work for russia. they promise to invade full statehood is launched with the united nations welcomed by standing but standing ovations at the trail somebody new york but violent clash of israeli forces at the border in the west bank. also finish miss rand paul stays suspended from his ministry of trade he speaks out against a website he says is a mouthpiece for russia's most wanted terrorist. concerned about possible greek default deepens again as it makes reports suggest that some euro zone finance ministers no longer believe the country's economy can recover.