now here in moscow this is the kremlin come by the wall reacts to the news the budget crunch is running for the russian president see again next year would be the dividend of now place him as head of the government also known as skeptical about the move to the tons of the continues to enjoy strong approval ratings among the russian people. on freedom of expression in the u.k. is a historic precedent set over a valuable mancienne halls of london police say was required to prevent violence in the schools of life all right. european leaders are preparing a rescue pad as

a goldsmith stave off a double dip recession on the prospect of a repeat of the i.m.f. warns it may not be able to help the bigger economies of palms accused of being sunk on trees while taking a soft songs on the us with a crisis began in a wait. and say on the subject of the global economy. finance minister lazy cooper and who outlines the country's plans for weathering any future financial storms are in cities that. and always say advance that commies 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 us is going to pay out their gigantic dead and this 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

i'll stick with it thank you very much for joining me out of saving a rich. prime minister vladimir putin said russia has sustained the head of the crisis and in fact the level of unemployment in russia now is no where 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 we developed and other measures but here we see a new we were problems in the world economy probably another global crisis around the corner cannot russia withstand it using the same methods or do the methods happen change the way. the new wave is not yet called a crisis there are some of frustrations of a crisis. however most economists are inclined to think there will not be a new recession but still 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're expecting higher growth rates in russia as western experts continue to call growth rates of about three to four percent is not. a real not expecting a fall in the economy like it was in two thousand and nine hundred g.d.p. literally fell by five point nine percent. there is a more pessimistic scenario at all but most analysts tend to think i won't be a second wave of some just. look at these conditions we still have to remain vigilant and must be ready and use of the worst and i. to apply the same methods we still have considerable reserves although smaller but as a whole are not like we needed last time. and this does not last too long will we 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 going. to go we have electra's coming up in russia said we were going to stay in the government

if we foreigners are carried out what were you talking about and what we forced and we expect if it were the part of the next prime minister. that it was good luck to say my future is not yet known i said i was ready to work in any capacity of helps promoting reforms or both can be quite different are not only on government concerning reforms its 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 cover a lot and price regulation. reform of housing and community services has not yet been completed the sector affects literally every citizen and there is much to be done yet it's also about giving more independent power to the regions 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 there's

a priority in some cases we spend too much of public money without proper effects 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 with all these so concerts no 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 economy space now russia keeps a big part of its our savings in foreign bonds but nevertheless russia has what portably cut in half its investment in the us treasury bonds are their concern is that it's right and now it's the pot and it's that is that it is you know we've

checked this information that appeared in the press and it's not complete and accurate it's true spaced 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 all reserves or categories obligations u.s. bonds at the moment are the most secure in the markets and we're not afraid from destine 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 that 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 budget and cut spending then it stability would rise and we would have no concerns over the liability of dollar assets so of course we are waiting on the u.s. government to take such steps so they can raise taxes or cut spending but over the years we would like to see the u.s. deficit shrink over several years. as will the debt crisis in europe is

threatening italy spain portugal and go think of europe will be able to withstand this severe financial crisis without letting the eurozone collapse and in what way could a pair fall belfour all over your effect russia will give it years of. european powers have enough resources to save greets so we are hoping they will show the will to do that and i doubt stop the spread of this contagion none the less these risks remain we've just. those here at the g. twenty summit another meeting of the i.m.f. board of governors on have called a new are they and 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 does spread it does not affect us too much of 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 columns on their homes that would not be

cleared this will cause problems with him these finds problems with these kinds of credits and overall problems on these markets because banks are after all the leading players on this interim mayor think rolf underscored of circumstance and the facts 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. because 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 but right here already has forty five percent of its reserves in euro denominated assets can it actually afford buying or is europe's debt got. us. all 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 can come and support to the ground tease 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 argument over investment instruments and it's quite secure we're also ready to provide. additional resources from the i.m.f. and through the i.m.f. open supporting those countries so we can provide resources through the multilateral instruments the i.m.f. from the european financial stability facility it's profitable for us it's impressive and or right finances. i was listening to robert there exist speech recently the head of the world bank and he was he was talking about how the world

must change especially about the park received in the attitude of it is the colonies forward and wording economists and this is how it put it i want to break this figure he said when countries with large miscall deficits preach let's call this a plane for the poor countries what are they really saying do what i say what i do when countries pay homage to free trade and hold back the balloting countries with barriers what are they really say what i say not what i do they do what i say not what i do world will fracture it for the betterment of the old ways and must change do you think that is the approach that led to the country to the crisis that advanced economy is based there that threatens to affect everyone else would be. the way western countries are vital has become somewhat outdated because huge consumption and little investments and savings have provoked this crisis of this point most western countries are not ready to reduce their consumption and preserve

the pre-crisis development pattern this does not let them emerge from crisis and their consumption is not substantiated with really common results and 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 because you know predict from the economic point of view of distributing out money and supporting an artificial demand that would help kick start the engine of the western economy so far this has not yet happened after all what the federal reserve system must on now we can see the situation has become worse as 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 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 the transom be changed it's this pattern that led to the crisis as a matter of fact. well everyone knows that russia's economy is very much dependent

on oil prices you said good spec it or prices will drop to sixty dollars a barrel in three to four years from now to be able to withstand such a doubt in oil prices and i wish it was true news of what. we expect this fall will certainly cause a decrease in our economic growth down to near zero or below zero but in terms of a budget policy we'll be able to cope with this within a year after which we have to adjust the policy on reduce expenditures 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 have. thank you. culture is that so much company is going to make in a lot of people

a year yeah but look is it time to me capitalism is we know it today should the world still rely on markets to generate wealth when the rich only get richer and. the immediate. the limited. to sleep. just seems to. sum up the fox.

if. he. wants to. see. wealthy british scientists. sometimes the tirelessly. in some of. the markets financed scandals find out what's really happening to the global economy for a no holds barred look at the global financial headline. cause a report on our. crime

income the world reacts to the news the budget approves sins running for the russian presidency again next year with the red dead and now planning to replace him as head of the garden. skeptical about i mean that the times and seems to enjoy strong approval ratings among the russian. european leaders are preparing to rescue pride as they battle to stave off a double dip recession on the prospect of greeks appalled by the i.m.f. warns it may not be able to help the group holdings but the fall is accused of being too tough on a song called trees taking a softballs in the u.s. about the crisis began in two thousand and eight. pounds out on freedom of

expression in the u.k. as an historical precedence as a growth battle marching in parts of london the police say was required to prevent violence in this sort of time by far right groups. kind of girl that exists. hello there thanks for watching on this what is coming up the latest from the russian premier league less parking spot i continue to rise of the four g. when i have a class middle. class to start playing the first trophy of the new russian basketball season. i'm cashing in this one the show gave goal for bill haslam multimillion dollar payday in atlanta. but we start with the football and spartak moscow are up to four from the russian premier league table after an impressive forty why when i cross nadar summer signing emanuel and me and then they got to go

in as many games as well up the heart an hour and just five minutes later arjun just doubled the lead for the former russia under twenty one for his first to the rebound after a scrappy corner. however to the home side only minutes followed go back again we should see this left blaring the start oh my i'm finished with it but still in the first off on the field it does it is through the red white he got advantage in any case that crossed so free want to start i got the stage beats incompleted his brace the present out blasting high left foot as soon after the restart any ray of hope for the ice seeing the reach of it to the penalty midway through the second half so i forty just yesterday finished elsewhere listening to the lord i got there when i fell down presley's good band they beat one nil six win

in seven games will now kick this example of consecutive defeat for always eleventh goal of the season. i'll swear i'm rostov one one minute i'm caught in a bottom half clash the visitors have romagna melnyk off sent. so far the teenage midfielder picked up a second yellow card for the captain but on one other. school to give rostov what proved to be the winner. well time and in a moscow fell to reclaim second spot after losing one nil in a rain drenched much struggling pretty forgettable signaling landslide there off the lebanese before that to me like a straight first half right for their nominee i am entertaining my take well won one at home through being spanish midfielder albert is a part of luck i had the first goal in the russian top flight landed me debut level

quite the second look i am now forty games unbeaten since manager jessica sierra took charge. so i look at how the table looks today's any on top of that to sky the second after that when i was told on saturday then it is there now and spots are kanji ceric this evening at the other end cross of the scale only seven points away from getting into the top top eight things go on to complete the league title and european places at the end of the regular season elsewhere spot on now to remain bottom they've lost the last four games without scoring a goal. i were in england richard his injury time own goal gave queens park rangers a late one draw at home to aston villa after barry bannan had put the visit head in the penalty spot our knowledge place sunderland on monday night. the rugby world cup wells have thrashed maybe eighty one points to seven to boost their chances of reaching the quarter finals a massive victory by adding wales not someone points not put them in second place

in group they are the last quarter final spots in the poll scott williams getting a drink of tries today by fiji next while third place in the face group leaders south africa and then next game there may limit be a. a to go home without winning a single match the russians see you are likely to go home without a win they are preparing to face the strain at the weekend following a sixty two twelfth russian by island but despite three defeats the bears are happy with how they have performed their first well. i hope we're proving our class with each game we play it's our first world cup after all and more experienced teams have lost by similar score to the one we did and when you to the game got to really show some promise now boxing middleweight world champion to make sure good old has successfully defended his crank stopping fellow russian in are limited to see an inattentive hero dominated the back using his height and reach advantage in are

being hit by a flurry of punches an attempt material was pulled from the fight by his trainer to concede a technical knock that hit all these thirty one is now unbeaten and nineteen banks were on duty as yan has lost three of his six bytes since turning pro. and in formula one red bull sebastian vettel is on the brink of retaining his world title after winning an instant packed singapore grand prix a mclaren's lewis hamilton how to recover from a drive three hadn't finished this dark a running in the ferrari make massa while seven time world champion michael schumacher emerged unscathed after that spectacular crash that although started in poland finished first is nine think three and fourteen races and he needs just one point five races to seal the title mathematically the only man who can beat him is jenson button he finished second ahead of greg falls mark webber. we were a comfortable position for most of the road which is pretty handy around here because it's quite a big challenge to you know put the cyclists together not only in qualifying also

in the roads as i said the pace was good and i'm very pleased and for the championship yeah looks like we have another chance at the next race. now in the n.f.l. the buffalo bills pulled off another stunning comeback to defeat the new england patriots thirty four points to thirty one buffalo had come back to beat open last weekend and sunday night found themselves twenty one nailed down in the second quarter rob gronkowski there connecting with quarterback tom brady but the bills didn't give up brady was into intercepted four times crucially here in the fall when the poor fools into the hands of buffalo straight in florence he goes over to give the bills thirty one twenty four lead and even though the patriots got another touchdown from work at this time in the closing minutes because nobody because of buffalo field goal from ryan lyndall just three seconds that seals the thirty four points to the one wade. twenty other games going on last night and this is how the

results look from their wins for tampa bay seattle green bay and san diego baltimore freshened lewis thirty seven seven also with big trees on sunday night were some francisco oakland and detroit fifteen games in total tennessee carolina pittsburgh in the new york giants also enjoying victories cleveland just squeezed out miami there by single point peace and loss to new orleans forty this year rick . has been a multi-million dollar payday for american gopher bill he won the fed ex title after beating hunter mahan in a playoff at the top championship in atlanta i moved away with just under eleven and a half million dollars half was tied with the fellow american man at the end of the final round so went to a pile fast road his luck chipping his ball from the water here to begin couple of feet of the pain and incredible shot that kept him in a match which went to a third extra hole then remain from the bunker. and then sent this part

past the. amount left past needing to sink his picture a bit of pressure because it was a cut with just over eleven million dollars wasn't. a half million for winning the weekend's tour championship event but also a ten million dollars bonus because it put him top of the pharynx rankings and this seems like. the past will now with the russian championships about to start in two weeks but tear scar have already wrapped up the first trophy the army men beating fenerbahce at the annual domestique of constant for top of. traditionally three european powerhouses come to the russian capital to take part in the government's kick up alongside the host says cut these he shall get from leave to any and it's analogous of greece and turkish life in a batch it took to the court to do battle for the trophy the red and blue squad out his sixty nine sixty seven win again jugglers on saturday and face and watching the

decider the van gives wild game practice ahead of the forthcoming season and the chance to experiment with new prayers and signing it again in the opening quarter ended i would have four or include forte's caught in the second muscovites before and some nice passing moves and prove that they are getting to know each other's game well forty twenty nine intermission the turkish visitors try to stand firm against is cause attack but they are man kept winding their way to the back board and they continue to play more and more confidently showing solid performance and pumping pressure on the basket the winning team was clear long before the final buzzer seventy three fifty seven the way finished it's going to leave this kind of friendly state as a term and we are very glad to win as we were competing against top flight teams however there's still lots of work ahead as we made too many unforced errors.

just to keep. it going maybe. it. does again. we could be in fact is what it can. take to get victory was teamed with a little sadness for the red and blue as it was also the occasion to bid farewell to tears college and graduate langdon and john wood holden who have both just retired holden born in the us to gresham. citizenship helping his adopted country to european numerous four years ago the army men great spend plenty of time signing autographs for the fans and handed out the world's best players in the post match ceremony. one of the most well go players will start of the season just around the corner around so if you want to cause a loss because man will be hoping their top shape for the challenges ahead and play

about out of archie. that was going on one of the game's biggest stars kobe bryant was in turkey and didn't really act and move to a club life in a back if no solution is found the current and be a lock at the lockout could prevent the start of a new possible season in america as n.b.a. owner scroll was placed over pay and that could prompt thirteen times and the star kobe bryant to join other late when he was in istanbul to stage a coaching clinic over the weekend and said continuing his career in case there's an option. you know something i would talk about it i've never been a third you have to pay stub also operate our company here it's. the sound a lot sweeter go have a big beautiful so that's a sport and i'm well is the. plan.

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