a very warm welcome to you this is r.t. live from moscow with me. well it is the long journey for russia the commission in geneva is set to clear all the remaining hotels from moscow's long awaited membership to the world trade organization. reports from geneva. this could be the end of an eighteen year process the last big hurdle to russia joining the world trade organization has been successfully negotiated on wednesday russia accepted a trade deal with the agreement signed here in geneva and laos the monitoring of all cross border trade between the two countries including the russian backed south ossetia and abkhazia by a private company with the last of george's objections to russia joining the w c has been dealt with barring any last minute deal relman swiss analysts say are

always possible but unlikely the packets of documents on russia's access includes be approved by a working group on thursday or friday with membership formalized in december russia's excess and will be the biggest step towards liberalizing trade around the world since china joined the w t o around ten years ago the world bank says. could boost the size of russia's economy by more than three percent in the medium term and eleven percent in the long term. reporting right when i was some business leaders and businessmen are celebrating the accession others are preparing for a tough period of transition. as more and what will change in russia's economy once it finally joins the. the only major market and g. twenty member still outside the world's largest economic club is russia and membership is eagerly anticipated not only by moscow but internationally the foreign press

doesn't especially those in our case who come from the european union are used to working on the ditto regime the person on the street w. taylor membership will not be just something they'll read about in the news but it will mean lower prices removing trade barriers between states increases competition prices of imported goods drop and domestic companies also grow quicker with foreign markets opening up. for workers of these metallurgical company you know looks like a win win situation their most recent project is the north stream pipeline should they enter international markets will face very little competition. and this is raw so much the largest plant in russia's south producing harvested russia is order book is full for months ahead and workers who conspire. but the head of the company has a rather different outlook to that of the w t o cheerleader's. our oil and gas will

be in demand even without entering the well agricultural tumble. agriculture will be among the hardest hit sectors but experts say the domestic automotive industry will be the one to undergo most step here will. the troubled mortgage giant up the vase was rescued from the brink of death in the economic crisis of two thousand and eight by prime minister putin with more than one billion dollars in loans cash and guarantees. that the government's favored child but not all car makers in russia are cherished this used to be a thriving. open the nineteen thirty two. most successful years what the fifty's and sixty's when hundreds of thousands of my screech cars flooded the soviet and foreign markets after the collapse of the soviet union my screech was in desperate

need of money but the government could not have sworn to loss making copper and must reach was tossed out. the only way to avoid the collapse of yet another industrial giant experts say is to use the transition period after joining the w. to wisely firstly entreats the w.t. doesn't mean you instantly have to truck tires and comply straight away transit so-called transition period roughly seven years or so protectionist measures will apply for a number of sensitive industries which employ millions of people such as agriculture timber and come making but at a certain point the state's industrial dependence will have to let go of its hand and work on their own two feet in the world outside it but that should also be a somewhat easier place to do business in libya duction of customs tariffs and trade barriers to a more level playing field across international markets exceeding the grouch of a r

t. well there we are always so eager to know your take on the story today we're asking you who will benefit the most once russia is finally a member of the world trade organization and let's have a look now and see how the numbers are. the majority almost half of you. nobody will win the situation. only adds to the big financial mess the world is already. equal between those who believe that moscow's accession will play into the w t o and that the membership is actually good for russia as it will boost its role in the global economy finally here seventeen percent say that russia will. benefit because it will be unable to cope with the competition if you take a moment to. talk. and of course there will be more news and opinion throughout the day here on. the working group is unfolding in joining.

us as the. new opportunities for business in the country find out about the advantages of joining the world trade organization. now prime minister silvio berlusconi is facing his last few days in office moves closer to the financial brink its bond rates hit emergency levels close to the level which forced greece portugal and ireland all to ask for an e.u. bailout. in global markets amid fears that berlusconi's successor will not be able to prevent the euro zone's third largest economy from sinking. we seen this year raising prices developing precedented rates and its least being the latest country that has been sucked into the spiral believes that might be. the scene is boring holes. in the sun. it's an extremely dangerous territory now that's because most of that seven percent is the trigger point at

which he still runs he says his island force will increase cost to see an emergency from. those who say the point at which investors start looking at the countries with a big. house there is a possibility that the country won't be able to pay what it would be disastrous for a country with a big. bounce at about one point eight trillion here has to be a major problem the investors will say going to be looking at whether the usa has the resources to then lend says the in the eventuality that of other lenders i'm aimin support is simply not in place a big. usa needs wanted to have that isn't ready because simply isn't there or not could really free a major problem prime minister berlusconi has said that he. resigned he's not putting himself that he actually felt quite relieved by that that was very very

right now in the country is the how and when the new government is going to be is going to provide a quick fix to the financial problems in the country. reporting right there well italy may now be seen as the greatest threat to the eurozone crisis veteran greece is still in turmoil power sharing talks of now into the fourth day and it's still not clear who will be the next prime minister the new government will have to pass a new bailout plan which is necessary to get the latest eight billion euro the eurozone is demanding that the two main parties sign a letter backing big. deal but the opposition says there's no need for written play and very shortly here on r.t. will be speaking to the chief economics commentator of the independent newspaper for more analysis on this story. well with the financial troubles no closer to being resolved max kaiser and stacy

provide their latest take on the situation in of course in the cause report that's coming up next hour here on c. here's a fifty year zero for all toilet currency all of your fifty year old toilet paper currency will soon be about as valuable as the star of the paper except this is all available nightly printed up in this beautiful display case that you can show in your house and tell your kids all about what happened in europe. right now ten minutes past the hour here in the russian capital u.s. police in riot gear have clashed with student protesters at the university of california berkeley after they refused to dismantle the camp tents were erected following a march against fee increases for students which was part of the broader occupy wall street movement several activists were arrested and one protester told us here

at r.t. that somewhat indiscriminately beaten by police with batons. police approached with full force right here and tons we don't want to root for nor against to use their tongues for the jab was in the stomach and everything else but there were times when people to the floor and then remembered their nightsticks with their returns as they were on the floor. they were they were going to cross the line and the rest in the people that weren't doing anything they hit they hear me repeatedly on the arms on the torso in the stomach and they arrested more students and they eat the students repeatedly you know that you're nonviolent peaceful protesters but they were extremely real in their attack with that with their sticks many people were injured i heard that one professor first was that university was was protesting and she's in the hospital and. pay tuition we pay tuition that's rising every year for

my services. and we decided it was time to take back our school and sure enough momentum from the other asked by movements we thought this would be a good time now the occupy wall street campaign against economic inequality has been sweeping the u.s. for weeks now our correspondent in the united states said lucy confidence is following the developments and reports that more tough responses from police are occurring in other cities as well you can have a look at a twitter page right here on the screen. keeping us up to date bit by bit with the ongoing occupy protests. could have you with us here on r.t. at the u.n. atomic watchdog the latest report on iran's alleged nuclear ambitions has split the international community the i.a.e.a. offers no definitive proof tehran is actually pursuing a bomb but is fighting still prompted several countries to call for fresh sanctions that idea has already been rejected by russia which says that sanctions might be used to force regime change in iran he's got

a trip to contacts to look. washington and european and some european leaders would ideally want to impose crippling economic sense sanctions that would further isolate iran but we know that two of the permanent members of the un security council that is russia and china have made it clear that they don't want to cripple the uranium economy and that they say further isolating iran would be counterproductive and instead worship put forward an offer which is still on the table and that is for iran to fully cooperate on inspections and to prove that what they say about the civilian purpose of their nuclear research is true and is not a cover up for the oil for a weapons program and in return the international community would be ready to consider lifting sanctions and that's the offer which is still standing iran's says they won't back off from developing nuclear technologies tensions are really high israel was hinting that they're gearing towards preemptive towards a preemptive strike washington said all options are on the table but despite tough

rhetoric coming from both israel and the u.s. many agree that washington in tel aviv are most likely to use the report as political leverage to try and isolate iran and possibly to put a dent you know in flourishing economic relations with china the u.n. nuclear watchdog report itself does not reveal a smoking gun but it sure hyped up fears that iran continues research on nuclear weapons the agency says its report is based on the intelligence gathered by a number of countries including the united states but the u.s. intelligence has a history of presenting false evidence back in two thousand and three to make a case for the war in iraq it presented evidence that seemed so very solid at the time but turned out to be a hoax the question many now ask is could the un's atomic watched awkward poured serve as a justification to start a war with iran but security experts say the consequences to such action would be catastrophic. he's got an extra right there well you can always log on to our web site for plenty more stories including our students taking to the streets of london

on. funding cuts and soaring tuition fees or they do so but they face a wall of police also. an anonymous group valens its next target will be the muslim brotherhood web site to find out r.t. dot com when and why they say they're going to attack. my list about one of our top stories here on r.t. the issue of italy its crumbling economy the indebted eurozone it leaves our bond rates have now just hit emergency levels sparking a panic in global markets amid fears that berlusconi's successor won't be able to prevent the euro zone's third largest economy from sinking let's get some more analysis on this now and speak to him if mcrae chief economics commentator of the independent. i thank you for coming on the program today so it's always a boring costs are in the danger zone seven percent mark seen as a point of no return are there any solutions on the table that you can think of except for asking for about. i think that it looks as though they all

have to ask for a bailout they have sought to get a seal of approval for their policies from the there and if the i.m.f. were able to give a seal of approval swiftly and that were indorsed by the european authorities you can sort of see your way through just with the new good technocratic competent government in italy you can sort of see your way through just with and getting by but it's kind of cut clutching at straws so as you as you suggest a possible i.m.f. cash injection for italy could it could bring about from the from the brink but the european stability fund isn't really even enough for the latest rescue plan and with the e.u. seeking help from countries like china what do you what do you see as a possible role of china here is is that a wise step to secure the financial future well i think the two things here i mean

first of all it is hugely in the self interest of china the world's second largest economy that the world economy should be successful and europe is whatever it is twenty percent of that world economy so it's an important market for china so it's important and if china wants to play a big global row here is an opportunity for it to do so on the other hand i don't think there's any point in china throwing good money after bad and trying to shore up a europe where it is not impossible that the the euro could be finished by easter but we've certainly spoken to many analysts politicians and world leaders who do forecast doom and gloom for the future of the eurozone there are some reports about our behind the scenes of discussions between france and germany when actually making the eurozone smaller how realistic is that do you think. well i think that's very realistic i mean the big thing is to preserve the european union not to

preserve the euro if the euro has to go that it's better that it should go and maybe when i say go that could be something called the euro which just applies to germany and some neighboring nations maybe france maybe three. excludes italy and spain portugal and all the rest of them but it's difficult to do that but the bigger game is keeping something called the european union together even if it has to be a two speed europe that's very interesting as you as you say there but the idea is that the ideology should be to save the e.u. and not necessarily the eurozone interesting when you bring in that perspective we are though witnessing the debt crisis suddenly taking its toll on politics pop and euro only all being shoved from office could it be that more leaders are going to face the boot as well well i suppose you would say sarkozy is the next in line france is is on the cusp it's debts are under

reasonable control it has budget just just tighten policy this week it still has a aaa rating may lose that sarkozy is in difficulty for other reasons so i think that he could be the next to roll but you know let's say that well maybe because of domestic reasons or not just because of the euro. chief economic adviser of the independent newspaper when he thinks. with r.t. let's get straight to it now or some breaking news for you this hour a commission in geneva has just now cleared all the remaining hurdles for moscow's long awaited membership to the world trade organization this now means that russia is almost certain to make its official entry in december at a meeting of ministers now it comes after russia and georgia finally reached an agreement on regulating customs on the borders with the breakaway republics of south ossetia and abkhazia russia has been striving to enter the international free

trade club since the early ninety's breaking news for you right here on r.t. . now at twenty minutes past the hour here in moscow and time to explore another corner of the world's biggest country in our russia close up series. russia has a black sea coast isn't famed across the globe for its gorm a dining yet some pioneers are trying to put the region on the world food map artist tom barton went to see local farmers' struggles to get their delicacies on the russian as well as the global market. treats from russia's coast with these look three food producers are struggling to find a market this is the only muscle in at least a farm in the area just off the black sea coast it's run by scientists to study the

region's marine life back in the u.s.s.r. . that point you were thrown out that way when the country collapsed science collapsed we were fired from our jobs in america research center but we were good at growing muscles and oysters so we approached a company and arrange for a million rubles for a start up it's a risky business with a storm capable of grooming a year's work with animals but without any major setbacks they can harvest twenty tons of mussels a year the problem then is trying to sell them. even on the black sea coast this is not ordinary food only the last two decades of russian started travelling abroad and seeing foreign menus so they started asking for more mussels mussels an oyster as are currently very popular in russia in fact the efforts of these guys are unique here but the hoping to grow markets for the underwater bounty are not the only ones hoping for a place on russian dinner tables. but this bin yard and tourist center inland yanis

and his family have been farming for decades he's of greek descent and helped his father establish the farm recently he decided to try and make wine here kids that he grew we need three years to establish the vine then five years for a good product in a few years and i hope we can produce great russian wines if you're the comet and whether a good for great grain here but yes is hesitant to try and make this into a proper business it's corruption it's putting him off yes martin or a little less like an artist painting a picture that if i wanted a serious business i'd be too scared of corrupt officials taking it from me where they were but with a creative approach i'm not scared of people in authority are the ones who should be kept from power they do not respect our citizens like you can. janish complains that a license to sell his wine costs one and a half million dollars far too much for a small producer like himself this also prevents

a good wine industry from developing here but he still loves the region and hasn't given up hope of making it productive almost three years too there are some good great growing areas in russia this is a favorable area so if you're thirty's don't interfere we can promote our brand and prove ours is as good as any french wine but. at the moment you have to look carefully to find local wine and muscle produces on russia's black sea coast but who knows within a few years this region could become a center for gourmet russian dining tom bottom party without a life from moscow just a reminder of our breaking news for you this hour a commission in geneva has now cleared all the remaining hurdles for moscow's long awaited membership to the world trade organization a korean american has more on that right now in our r.t. business but.

thanks rory hello and welcome to business news as we have been reporting russia has been given the green light to join the world trade organization the move is expected to open new markets for the russian goods as well as bows desired foreign investment take a no from morgan stanley explains which foreign companies will rush to cash in first. i think it's going to be in business services it's going to be companies legal companies insurance banking that's the sort of area that will benefit because they will feel more comfortable about entering the russian it it's not like turning a key in the engine starting it takes several years for the tariff cuts to come through it takes a while to change administrative practice is so i think we're looking at three to five years before you have the full impact of the accession but you columnists have calculated there is a world bank study that people refer to a lot that will out about four point three percent of g.d.p. to russia over the medium term most of that about three percent coming from this

increase in investment in services and another one percent coming from increased in russian exports russia's or their gas sector which provides more than a half of the country's revenues hoped to benefit from the w t o entrance the country's biggest private oil producer look well explains how. we are consumers of mechanical and machine building devices we are big consumers so why for example so we do believe that texas today is likely to increase competition. which saw it which means it will be sweet in the increase of competition if your suppliers. can be going to be think it wasn't so the choice. it will be reduce costs. screwed oil is trading here today low as investors speculate that recent gains were exaggerated prices are going to change after dropping for the

first time in six days wednesday asian markets drop on thursday tracking steep falls in the us where markets plunged more than three percent investors were dumping stocks up to a surge in italian borrowing costs spends nicky lost nearly three percent in hong kong's hang seng was down five percent on times with friends and exporters hardest hit throughout asia. now let's go over to europe. where stocks push flat to higher italian stocks are in the front to ask traders i prospect for a change of leadership in rome bank's bounce back from the prize days shop losses the footsie is up nearly half the footsie is actually down half a percent or so and the dax is slightly down as well. and here in moscow markets are pointing upwards this hour after lower starts here's a look at some of the individual cheval some of my sites well snap has reversed from earlier losses and is now trading higher spare bank is also off point four

percent alleged to have reported a more than two fold increase in net profit for the first ten months of the year that's under russian accounting standards my finance is still below the company's earnings had jumped almost eight percent in january september and here's you gave me a coach was a outs from alpha capital but now. i would say. focus in on. long term. current. track also i see in russia euro bonds especially while russia. the world trade organization this may be. true russian assets and also with the recent past. we can also expect some positive great song russia. transformed from. a category. into russian.

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commission in geneva fully clears the way for finally the world trade organization with all remaining hope. to get an official invite next month after almost two decades of try. pushing the country to the brink of financial collapse. it's all despite the country's prime minister silvio berlusconi promising to resign as soon as parliament approves the austerity measures demanded by the e.u. . with rising tuition fees.