revolting video for your media drug free video games or t.v. dot com. welcome back to join us you're watching r.t. coming to a live from moscow these are the top stories russia's odyssey to join the world trade organization is now closed today and after almost two decades moscow overcame the last hurdle on the way to accession by sealing a crucial customs agreement with georgia. borrowing costs hit a record high pushing the country to the brink of financial collapse and dragging global markets down that's despite the country's prime minister silvio berlusconi promising to resign as soon as parliament approved stary measures demanded by the

e.u. . and western powers push for fresh sanctions against iran following the latest report on its alleged nuclear ambitions but russia rejects the v.i.p.'s counterproductive while the iran insists it has nothing to hide calling the i.a.e.a. findings split size. next artie's injuries show spotlight as arlen gears up for another hit after a bailing out failed banks algor enough speaks to the country's minister for foreign affairs and trade. to discuss what's being done to avert the fall.

hello again and welcome to spotlight the into the show on r.t. algo knob and today my guest is gilbert island will be taking over the presidency in the e.u. in the year of two thousand and thirteen but on the eve of this event ireland is facing pretty serious economic and financial problems well as well as many other european countries and members of the eurozone prison milledge of the russian

president when he was present at the g. twenty summit in france so russia is ready to help its european neighbors so what kind of help is russia ready to provide to islands let's ask the deputy prime minister and the foreign minister lyle and eamon. as the european debt crisis spirals even further all the control economists warn about the future all the euro if greece defaults and then leaves the currency island and all the weaker economies may be forced to do the same the region stronger nations have graded and almost half a trillion euro bailout fund but that's still not enough. to do to the europeans are seeking support in the east particularly from china but they also want russia to help its request officials and moscow believes both in its economic and political interests to. think

over a welcome to the show thank you very much for being with us pleasure to be with you well first of all i was before coming to moscow this time you said my intensive schedule attests to the emphasis we place on deepening and broadening further our political and economic relations with russia and we quote what is that reason for such attention to relations with russia now well first of all ireland has always had very close relations with russia. at this time. first of all at the political level we want to keep in our bilateral relations and strengthen those there is an opportunity for us to do that you know are going to take on the chair of the organization for security cooperation in europe next year through twenty twelve and that is a regional security organization which stretches from one comfort of the clearly russia is a major player in the whole framework so. this is an opportunity after

scotians at a political level with the russian foreign minister lavrov in particular about those issues mediately after that are and will also take on the presidency of the european union at the beginning twenty thirteen so over the next two years or so our loans will be very much at the center of european political and economic issues the all reason that we are at the that i'm here is to obviously deepen our economic relations and i will be co-chairing with transport minister of the. meeting of the joint economic mission between our two countries and we hope to use that meeting to deepen trade and business relations between the two countries are i've heard that your government is paying much attention to the return you get from paying for for your missions or grow what's on the very few said you closing

your embassy in vatican and maybe in some of the european countries what about the mission in moscow are you keeping it over very much keeping the mission in moscow in fact we intend to strengthen our work in russia there is a very high level of trade between our london and russia it's about two billion euros at the moment aryans merchandise trade with russia increased by about sixty percent last year and we see enormous potential for that to increase there are about two hundred irish companies who do business. here in russia one of the outcomes that i've hoping for from these two days is to see an increase in the activity and the continuation of our embassy here in moscow and the work that irish agencies do have of russia's going to be very much part of this year off to a pretty rough third quarter the exporters it's she asian has downgraded its two

thousand level growth projection from seven to five percent do you see some new markets in russia do you do you are you thinking of selling some something else what kind of products. well first of all i want to say that exports are in fact growing and increasing. arland exports but eighty percent of everything we produce so trade in exports is very much part of our growth strategy but is also interested in mainly well the areas that we see potential for growth here and most who are for example in agriculture and technology are under the right. country and we've developed a lot of skills in the area of agriculture research and technology and we believe that is an area which can grow here we also see potential in information technology are of this very much a central european hope for internet activity no companies like google and facebook and twitter who are located in them so we see that as

a period for growth education and education services these are areas that we see can grow and of course in the whole area of alternative energy because again our land because of our. area of air is about ten times or our land area big potential for wind and wave energy and this is an area that we see great potential for growth and there are in big demand these days in the kremlin if you want yes innovation is. really. changing world and innovation certainly innovation and industry science technology this has to be at the heart of of industrial strategy of economic activity and our own prides itself on having a very strong university sector and a very strong linkage between business and our universities we work to build the synergies between the research activity that takes place in universities the

innovation that takes place and industry and then the marketing of all of us through our trade strategy russian president has recently attended the g twenty summit in france and speaking there he said i quote europe should achieve economic reality russia is ready to help including through the snow and then what do you expect any help you can get from russia in overcoming the difficulties in financial difficulty well first of all the military of help is that we grow or grow or trade the secondary of course is i think that there has to be increased cooperation between the european union and russia i think this is something that. has supported the idea that there should be increased cooperation between the european union and russia we operate in the same area i think that there are a huge advantage just for both russia and the european union for increased trade and i think that there's potential for that as russia will shortly i believe become

a member of the world trade organization well let's talk more about finance which is a problem and it's a big problem for islands for as i understand i was forced to accept sixty seven point five billion bailout from the european union and the i.m.f. last year last autumn actually then in may he. the european financial stability fund was created do you plan to use this european stability fund to to somehow reduce the coast cost of the other bailout well the first thing is that the program that aren't. with the i.m.f. and the european union and the european central bank we are working the program we're reaching all of the targets and this year the first two quarters of this year arlen has returned to economic growth for the first time in three years so we are working our way out of the economic crisis a number of decisions have been made at european union drive of this year including the establishment of the. very strict simple mechanisms which are within that which

we feel will work to our benefit and will work to reduce the overall level of cash that our states are three the crisis last year it was blamed on the irresponsible banks the competent economic governance this resulted on the record figures that the labor that your party got an out of the recent elections how much did your government improve the situation well what would you for example also to the left critics who accuse you of i quote slavishly submitting to their think that some of the financial markets and those faceless institutions that hold the lives of tens and hundreds of millions of europeans in their grip well this is this is what you're doing according to your critics no in fact what we're doing is we're working our way to recovery the first thing that the new government did was we took decisive steps to restructure and to recapitalize banks aren't has been hit

with a double whammy first of all the effects of the international recession and the collapse of lehman brothers in addition to a domestic crisis which was mainly property fueled which was fueled by excessive lending the new government has worked to deal with us restructure. our banks we've introduced a jobs initiative to encourage people back to work and to provide training for those who are out of work our economy has returned to groet. this year the country's reputation is greatly improved from the time the new government took over and i think there's a greater degree of confidence both in our land and abroad about ireland's ability to pay its way and that is reflected in the markets that's reflected for example that the in frustration at irish suffered and actually has greatly reduced since the new government took over says eamon gilmore of the deputy prime minister and the foreign minister of interior on

a visit to the shop spotlight will be back shortly after we take a break so stay with us. the close up team has been to the pens. where technological breakthroughs save human lives. now she goes to the scene. the unusual ways to protect. her from a pioneer place local cuisine to the highest pitch. but her future developments depend on the way. russia's black sea coast should close up on hard.

welcome back to our nabhan just through mine and my guest today on the show is the human will move the deputy prime minister and foreign minister of the republic of ireland. mr gomes when island entered the eurozone. as a guarantee. prosperity for for years to come well now after that year has experienced serious problems and is actually facing a crisis what's your what's your opinion the year the the irish. entry into the eurozone do more good or more bad for the republic i believe it or good really i think first of all you have to acknowledge that. column e. grew very significantly during its period in the euro yes it is true that our under experienced an economic setback about three years ago we are now coming true and

coming out of that there are difficulties in the euro zone everybody knows. the european leadership is working to deal with those difficulties and i believe it's dealing with those difficulties successfully if you look at the number of decisions made this year to support the euro and to support the euro zone the establishment of the european stabilization fund the european stability mechanism the change in the european treaties in order to. under various decisions that have been made to strengthen governance in the euro the euro zone all of these i believe will over the course of time strengthen your i think there is one thing that people need to be clear about and that is that the leadership of european union countries will do whatever it takes in order to ensure that the

euro is staples that it succeeds and that countries are absolutely sure this is interesting you as a prime minister be prime minister by when you're absolutely sure that the euro leaders who see there really care about what happens in ireland what happens in greece what happens. portugal do you think they care about their countries well they care about their own prosperity well i think everybody's prosperity is fairly sure. you know we live in a world where the prosperity of own country depends on other where the difficulties the tension difficulties banking difficulties one country impact on the banks of another country let's be clear about this the european union countries and eurozone countries in particular have put their money where their month is they have established their various loans which are necessary to support to underpin the euro and have taken a succession of decisions which are aimed at securing the future of the euro the

future of financial stability in europe and the future of the european economy oh yes of course there are there are difficulties and we've seen difficulties even in recent times and in some countries but there is a collective will in europe to deal with those difficulties and to ensure that we succeed so you are confident in the future yes i am confident i mean europe europe is very strong very big markets in europe we're talking about five hundred million people there is a strong of cohesion across the twenty seven number states of the of the european union. there are there are measures that have to be taken there are decisions that have to be made there are reforms that are have to be pursued collectively in the european union i need additional member states as far as our lives is concerned we are taking those reform measures we are pressing ahead with the things that need to be told we are convinced we will be the first european country that will come out of this recession come out of the programs that we are in with the i.m.f.

and the. the e.c.b. and as an individual country and europe as a whole will come out of this very. straight the economic reports give the impression that you owe this and have another choice to compete. with the dollar i mean they have to challenge the dollar and this is the problem this is the need this is what causes the problems of europe trying to compete with the dollar is that true well i think there are complex issues which are intertwined here i think that at the root of it although if you look at the european economy yes the reforms that have to be done yes third decisions that have to be made in regard to fiscal governments and financial governance but there is also one in the society for the european economy to grow one to create jobs and this is an area where a country we have put our emphasis at our discussions with our european partners

it's a necessity to get jobs in europe to grow our economies to expand our trade and that ultimately since back to one of the reasons why i veer in moscow today because i want to see the opportunities for trade between russia. much more greatly increased so that we can grow both economies to our mutual advantage do you think that the troubled economy agrees from maybe some other countries that they may leave the euro zone is that an option i don't think so i think if you look at the way in which this whole crisis has been approached it has been approached on the basis that we are members of the euro on a collective basis where one country gets into difficulty there is a sense of solidarity from other member states we've seen that worked out over the implications of that obviously and individual countries are different and they are difficult and i think we've seen that expressed particularly in greece in recent times but i'm confident that these problems can be overcome working from the

outside from moscow i don't show that the european commission is weakening in that year and that. are becoming the decision makers in europe do you agree no i wouldn't agree with that i think the european commission is very strong and many of the proposals if you look at the park. the nations of the european council by heads of states of government these have been in the main have been proposals that have been prepared by the european commission the rule of the european commission has changed following the adoption of the lisbon treaty and there is no new structure for meetings of heads of station and government and of course there is a new office now two new offices of the office first of all of the president of the european council and secondly the office of the high representative which deals with the foreign affairs side of the european union. czerny as many today are seen as the universal means of seoul the european financial problems many people in

europe are no happy with that they do one too many chinese investors in europe what's the irish because it's well arnold welcomes from china and indeed we've had discussions with. chinese leaders and chinese businesspeople to encourage investment in ireland and trade between art and china but i think we have to be clear about this there is no facing a single silver bullet that resolves the european financial crisis and that includes the idea that chinese money is some kind of a silver bullet that will result the financial difficulties in europe and in europe the problems in the eurozone have to be some result first of all european leaders making the decisions that are necessary and i believe that that is happening but secondly they also have to be resolved by the european economy which underpins underlies our financial system that by that economy strengthened by reforms by

growing by jobs creation. off so the crisis of two thousand and eight the g twenty was considered to be to become the the main. instrument solving. the problem self-serving financial problem. management problems on the continent after the summit in france had been just took place do you agree that this mission is being fulfilled by the g. twenty what i think i think it will be wrong to place to place it on jus emphasis on the g. twenty the g. twenty to really has a very critical of very important role to play in the overall management of the global economy but there are of course very many countries who are not a part of the of the g. twenty i think one of the lessons that is emerging from this period of economic turbulence is perhaps the necessity to look again at the international financial

institutions of monetary institutions that are in place to look to see how they can be reformed and how a system of military regulation basis can be put in place which provides for a greater to create stability i think the important thing is that we learn the lessons remember this is this has been a global financial crisis what happened on wall street what happened in many other financial centers reverberations will cross the world and i think we have to go back to that happened it happened because of the creation of new products which were not based on economic reality in many cases we saw a period of very large financial regulation i think we need to learn the lessons for that kind of like financial regulation very often it ends up in crisis and the people who suffer as a result of the crisis are people who are at the end of the line who lose their jobs whose businesses fail we can't allow that to happen again and therefore i

think. we need to look at the international institutions. we have to ensure that there is better regulation and that there is sounder governance of the global economy where time for one final question will be good news a real i want to talk about this this irish vessel that was captured. by the israelis to the truth was it was and as a bound well the opposition in your country it says that you should seek immediate release of the irish through the foreign ministry is that you since they are in moscow so what is your government doing to take to release. well first of all very pleased first of all that none of the crew were in any way harmed and that there was no violent incident surrounding the arrest of the citizens or arrested on the fossil. or embassy in israel has been in touch with the fourteen people who were arrested in this working closely with them and i'm hopeful that they will in

fact be released so they are ok they feel you that they are. our embassy officials were in touch with them visit them all the evening that they were brought into port visit them again the following day as range for legal representation for them. has assured me that yes they are well they prefer not to be in arrest in detention or we're hoping that they will be released thank you thank you very much sir and just to remind you that my guest on the show today was. the prime minister and minister of foreign affairs of the republic of ireland will be back with your first comment on what's going on in and outside russia until then stay an r.t. and take care thank you very much thank you.

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