signed sealed and delivered brussels access into the world trade organization is finally agreed after eighteen years in the making more from me in geneva in just a moment. also this hour athens announces the veteran vice president of the european central bank as its new prime minister sparking fresh indignation on greek streets over the sea of loss of yet more soaring to to the use relentless bureaucratic machine. israel may strike iran by the end of the same birds according to reports citing british intelligence sources are the findings of the un's atomic watchdog sponsored fresh concern over terrans nuclear program the top stories this .

international news and cohen live from moscow this is r.t. with twenty four hours a day russia has been finally granted access to the world trade organization after almost twenty years of thought the negotiations and commission in geneva has finalized overall terms for the long awaited membership which will happen in december ati's nor smith has been. there's a document in circulation which is the all the terms and conditions it weighs three and a half kilos and it amounts to some seven hundred pages now i haven't had time to read the whole thing and i doubt that i'm in the minority there but can only imagine that it's full chockablock of painstakingly negotiated compromises which have taken place over that all that amount of time but in fact what the significance is is a question that the chief russian negotiator maxime advance could says that he has

been asked repeatedly over the last eighteen years what just what is the point of this and he pointed out during a media conference that took place of the gaveling of the documents as they call it here he said that it's true that russia first applied for membership back in one nine hundred ninety three when its economy was in pieces and over that period of time russia has rebuilt its economy without the help of the world trade organization so that it is now the sixth largest in the world he said that despite that we russia now does ninety percent of its trade with members membership of that organization is sort of a level playing field in terms of doing business it was still very important he talked also about the ups and downs of the negotiation process the draw comedy and he said that the most difficult moment moments had come when they were negotiating the natural gas terrorists and also the terrorists for the agricultural sector in

russia but he says that now they've come to this agreement he's not fully satisfied with the deal but he says that it's an important geneva lesson to learn but if no one's really satisfied with the deal and that probably means that it's fair for everybody he said he's also negotiated a reasonable period for making adjustments to terrorists between three and four years they will have to bring their tarps in line with the rest of the world trade organization and the organization itself says that now one hundred fifty million russian consumers will be. have access to cheaper prices for a whole range of goods but of course there are also disadvantages in this and my colleague that you catarina gretsch over has taken a look for us at the pros and cons of membership for russia of the world's largest trading organization let's take a look at the report for the person on the street w. general membership will not be just something they'll read about in the news but it will mean a lower prices removing trade barriers between states increases competition prices

of informed of goods drop and the mastic companies also grow quicker with foreign markets opening up. for workers of these metallurgical company it all looks like a win win situation their most recent project is the north stream pipeline should enter international markets they'll face very little competition. and this is not so much the largest plant in russia's south producing harvester rushers it's not a book is full for months ahead and workers who conspired. but the head of the company has a rather different outlook to that of the w. cio cheerleaders. our oil and gas will be in demand even without entering the. well agriculture. group called chu will be among the hardest hit setters but experts say the domestic automotive industry will be the one to undergo most of he will. the troubled mortgage giant the

virus was rescued from the brink of death in the economic crisis of two thousand and eight i promise to put in with more than one billion dollars in loans cash and guarantees. i was the government's favorite child but not all car makers in russia are as cherished this used to be a riving plant of musk reach open the 1930's most successful years were fifty's and sixty's when hundreds of thousands of not screech cars flooded the soviet and foreign markets after the collapse of the soviet union was created was in desperate need of money but the government could not afford to loss making car purchases and most creature was processed 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

chair wisely closely entry to the governor doesn't mean you instantly have to drop all customs and comply straight away there's a 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 car making but at a certain point the state's industrial dependence will have to let go of its hands and walk on their own two feet in the world but that should also be a somewhat easier place to do business in the reduction of customs tariffs and trade barriers to a more level playing field across international markets if you are going to chill for r t more scale. well joining us from brussels tonight to discuss this more as a former senior advisor on. issues. thank you very much indeed for joining us now does russia deserve to be a member of the w t o given that the country's economy is affected by major

interest groups and corruption. one could say that this is. the crowning of the russian goldman sachs the mid ninety's and basically russia has taken its rightful place normal laws its relations with the global economic system so one could actually say that this is a huge achievement for the economic system as well as for russian economy so really the investment climate here for foreign businesses will indeed improve in russia as a result of the succession to the top. clearly it is a matter of concern. yes indeed i mean this is one of the huge one of the biggest gains of. your people will probably take place in the rocky ford. because again as a basis of course foreign investors but particularly in manufacturing and also in the service industry so this is which will in turn lead to increased competitiveness of russian industry biggest gain as you say foreign investment but

what about russia itself i mean it's become the sixth largest economy in the world without the help of the so what can russia actually expect to gain where would it benefit and what changes do you expect in the not just the short term but the long term. indeed i will admit that. the current state of development has little to gain from the export. export that is actually occurring because it's mainly exports and. materials. to government in the world would put perry from the most the biggest gain from russia. lower prices an increase. competition will lead to increased wealth having said. that russia. thanks to the energy exports and material support.

exports but the key point here is that it will not be able to maintain this. government here membership. in a sense what you're saying is that the russian people will actually benefit they'll be better off cheaper products to improve welfare but just how soon will that take . well. if you look in history if you look at for instance the chinese or other. advanced liberal country developing countries that had ceded to the benefits will come pretty much immediately the more it will. comply with. your commitments so you know will the benefits come this is the big irony of international trade which is that the more you do. you actually get this proves that the biggest gains from international trade imports not necessarily

international trade of course what about visa regulations we know these regulations between russia and the u.s. are due to be relaxed for business people obviously these are people have been in the past so well everybody benefit from this perhaps with an easier these are regulation in the future. well. the current political climate the looks. economic issues it's god's to migration is a very sensitive issue in both the us and the you and. she's going to be separated and dealt with separately for a quiet period of time ok all right well that's just very briefly will russia play a major role in the economic climate bearing in mind its problems at the moment worldwide just how big a player will russia now be in the in the short term in terms of this economic crisis just very briefly. it's not up to russia but maybe it's up to the european union if that's what you're implying to. thank you very much indeed. for joining us

there live in brussels thanks for your thoughts thank you. well we're always eager to know your view on the story today we're asking who will benefit most now that russia has to become a member of the world trade organization let's see how the numbers are stacking up at the moment the majority still think they'll be no winners as the organization only adds to the big financial mess the world's already in iran if it's a double chairmanship is actually good for russia has little boost its role in the global economy always the same amount believe that moscow's accession will play into the w t o's hands while the remainder think the pressure will suffer because it will be able to cope with titian personal view to dot com. greece's announces next prime minister lucas papademos the former vice president of the european central bank he will now take over the reins of the embattled country it follows four days of hectic talks between the outgoing pm george papandreou and the main opposition leaders on a new unity government with the incoming premier

a staunch e.u. backer and his new administration are set to be sworn in on friday with the immediate tricky task of introducing more austerity in return for continued the announcement to get more now on greece's uncertain future and indeed the uncertain future of the eurozone itself and political analyst peter there he's live in birmingham so now that the public road in the sea is out and the former vice president of the e.c.b. is in as premier greece now a fighting chance in the doom and gloom of today's economic mood. i really don't think so i think we have to turn the clock back to the original collapse of the world economy because this was no accident it was a very well planned exercise by the new world order who have the ability to close down any company or any country at will and as we know ireland became a victim portugal and now greece and apparently spain and italy are likely to

follow it really doesn't matter who's in power there are people that are controlling this situation and we also have to understand that there's massive. could we say massive corruption fraud taking place and tax evasion in most countries it's actually creating this problem well so very interesting we need to this is just to quickly ask you a very interesting point of view here just who are these people you're saying this could be a conspiracy behind all of this was actually the people and putting the strings behind the scenes. well i don't like to use the term conspiracy because that puts you in a bracket in open to ridicule but i'll give you an example if you if you are you want to create a company say an all drilling company or a gold mine you create a virtual company or false company an empty shell you then raise capital six billion or whatever from your potential investors and what the people don't know is

that the end of that day you're capital's gone that risk couple's gone forever and the money siphoned off through a multitude of entities the banks are involved who sometimes give unsecured loans to such projects and of course the politicians themselves even our prime minister go david cameron historically was responsible for seventeen point eight million pounds going to drift and this is recorded in hand side in parliament and no one to this day as question how that came about what of course you are questioning it now i mean here you are actually saying in effect that this is the greatest ponzi scheme in history and yet pulling something like this off and not being caught many would say this is just a little too far fetched specially when we think about the scrutiny of the internet these days and whistleblowers i mean do you really believe that this sort of thing wouldn't be held to account. absolutely i could show you

a multitude of what we call forensic evidence i have a colleague that works on this that is quite an expert at tracing the schemes all the companies involved i'll give you an example for instance arlington street arlington associates which is attached to the rich so tell in london is such a boiler room which is a boiler room of virtual companies where vast amounts of money are invested in just disappear another one is the first the first floor of twenty five barclay square in the khyber strips wielding a company called lawn row massive massive corruption going on there and tax evasion and so what happens is this becomes a toxic debt the banks. provide them with in secure loans or whatever that turns into toxic debt and the ordinary people in the street have to pay the ultimate price so you can scam what if you come up with some very interesting tangible examples of the financial aspects here but what about the political ones surely

politicians will not want to sacrifice their political careers and reputations for this we see in political collapse increase in italy berlusconi losing power perish the thought surely these people don't want that to happen. you've got to understand this there's a protection mechanism in place for instance all our reports go through the serious fraud office which is the correct place to be poor such dams we've reported it to every party political leader our local members of parliament and then when you go through the spider's web and realise who is involved right down to local politicians it's some secure vast scale you know you can name quite a few very senior politicians and members of the house of lords who are implicated in this scam of being non-executive directors or silent directors of nonexistent companies and when you link that with the fraud the the billions of pounds are to

going to miss every year and a tax evasion they're all in on it ok what is the point well that's what is the point let's just imagine you are theoretically correct here and you give some very very credible evidence towards your theory but we know of course that economic decline leads to unsocial i should say to social unrest now are you actually saying that what people want is a a european spring identical to what we're seeing unfold in the arab world. yes i'm going to use that term because of the arab spring it is a perfect example of out of this came about because remember that they can take out any country financially or militarily that they want to take out this is a master plan of what i call the new world order their priorities are one to secure the world's natural resources their second approach so in my speakers coming out in my. second one is the second one is to control the markets with those resources

and thirdly is to control the gateways to see the rains and the pipeline routes when you have control of it you're basically got the world in the palm of your hand controls the finances of the world controls the world and this is what we're looking at here one thing peter i can guarantee we're going to a lot of reaction to your point of view on this thank you very much for sharing your thoughts peter political analyst joining us live there in birmingham u.k. fascinating thanks very much indeed thank you. but with a dawning realisation in the new that greece may already be too far gone parties let's kaiser and herbert offer their own uncensored take on the situation requires a report is coming your way at nineteen thirty g.m.t. but here's a brief previously. there's a fifty year. old currency all of your fifty euro toilet paper currency will soon be about as valuable as the store the paper this is all available nightly printed

up in this beautiful display case that you can show in your nose and tell your kids all about what happened in europe. because the report coming away to leisure here in israel may be preparing to strike out a wrong as early as the end of the something that's the warning reportedly voiced by some in the british intelligence services this comes after the latest report tension over iran's nuclear program by saying it can't exclude tehran is working on nuclear weapons. or is watching developments and joins me now lloyd from tel aviv paula what exactly have we heard from the british then. well according to british intelligence chiefs want to strike against iran to stop it from developing nuclear weapons as soon as christmas according to sources in the british government if not christmas then the beginning of next year with these also saying that israeli

military action is to be expected sooner rather than later and that it will be action that will be supported logistically by the united states not in recent weeks we didn't hear from me but his defense ministry they confirmed that they have contingency plans in place should the u.k. decide to support military action against a bad year in israel prior to the publication on tuesday our report by the international atomic energy agency the israeli defense minister ehud barak warned iran of a possible is radio strike he said that all options are on the table and when if israeli officials use that phrase all options on the table it really does mean military action the israeli president shimon peres has also gone on record saying that any israeli military strike is more likely than any kind of diplomatic solution. but the thing is it any way now at the moment with all this talk rhetoric is there any way of predicting a wrong response to this news paula. what we have had it was sponsored

iran's supreme leader the ayatollah ali call mani who has warned both the united states and israel if they strike iran they must expect a tough hamas response from tehran he said and i'm quoting that we are not a nation to sit back i don't and watch materialistic corrupted and rotten power was threatening iran we will respond with a strong slap and an iron fist he spoke about a graces and invaders being snatched from within now just yesterday wednesday the rain president mahmoud half minute said responding to that i eighty a report he slammed the report and he said that iran would not step back one iota from developing its nuclear program but the report those were lying on baseless u.s. claims that iran is building a nuclear bomb paula thanks very much indeed for that policy reporting live from tel aviv. well internet internet users have been left shocked after videos of

police brutality against student protests at the university of california emerged online the clearly show officers didn't hesitate to use their buttons to be the only to be a spur for arresting them refuse to dismantle their make shift camp well to talk to one witness and here's what he had to say. police approached with full force with right here and the towns we normally goes through they use their response to that repeatedly jab us in the stomach and everything is what they are photons one people to the floor and then having them with it with their nightsticks with their returns as they're on the four. they were there or if you'll cross the line and then to rest in the people that weren't doing anything they hit me really on the arms on the torso in the stomach and they arrested more students and they paid you the syrians the reviewer yelled that we were nonviolent peaceful protesters but they

were extremely real in there is happy with that with their sticks many people were injured i heard about one professor professors our university was was protesting and she's in the hospital it's our school we pay tuition we pay tuition that's rising every year for less services class sizes are in and we decided it was time to take back our school and tearing up the momentum from the other i mean it's a really good time. when our twitter feed it underscores calm is the best way to stay fully up to date with the latest news from the process site and you can also follow our correspondents tweets things to the most recent videos you can find that you see coming up twitter stream including the full video is appropriately and they simply tell us how. this policy in the russian capital headlines are coming up with me in a few minutes well in the meantime let's cross over to the business desk with you.

hello and a very warm welcome to the business program as we've been reporting russia has been given the green light to during the world trade organization the move is expected to open new markets for russian goods it will also boost the desire for your best friends into the country chief economist for breach of bank russia got lucky somewhat because joining me now on the suitors hello thanks for joining us so how tough will the transition period be well the longer the transition period the easier it is for domestic producers and in most of the cases the length of these transition periods is quite significant. for some of the structures including say for the insurance after it's up to nine years for some of the manufacturing side sectors such as the auto separate seven years so russian producers still have quite a significant time. frame in order to prepare for this increased

competition is coming russia's way for you to your question which industries will benefit most from russia's accession to the w t l well my view it's primarily the exporting industries. who will not be as much interims w t o commitments but the investment of that may be significant because upon w t o accession typically we've seen with china we've seen with other entrance into the w t o the level of foreign investment into the country increases significantly and gas being so crucial sector for the washington county is likely to attract a significant part of that inflow then i would expect the metal suffered to be a significant recipient. of the benefits from w three and the. reason is that most of the foreign restrictions against russian producers

abroad are level precisely on the producers of that surplus so after w t o accession russian producers will have a greater leave a greater capability to address to counter some of this foreign protectionism when quickly will we feel any positive that's because of the entry. i think most of the effects will be felt in the medium to longer term some of the investment related effects will be shorter term but the problem is that in terms of the potential inflow of foreign investment there is the issue of the crisis of the world economy and the degree to which russia can attract foreign investment in these conditions is somewhat questionable but in any case i think. in terms of the investment climate russia is certainly going to do better with w t obsession being a member of the w.t.

speaking about russia how different will the russian economy be one of the countries integrated into the global system i think it is going to gradually change i don't think we'll see changes overnight we won't see radical changes right away but gradually russia will be guided more by rules rather than our policy measures will be guided by its commitments to liberalize its me over the course of the next five eight ten years and this is almost like a roadmap of reforms structural adjustment that is going to be consistently pursued by russia in the coming years and i think this essentially sets russia on the right path towards trying to become competitive towards forcing the country and russian producers to become more competitive how will russia's w c

o membership change its investment climate well i think the investment climate will certainly improve and hearing from the waiting agencies for example that in their view russia's w.t. exertion is an important factor of diversifying the economy. rendering the policy for. same work more rules based more predictable as well because of these commitments that russia has to deliver upon so i think for international investors this is going to be seen this w.t.r. membership as an important anchor that stabilizes policy making that makes it more predictable and here is russia's decision making in terms of its economic policies more towards liberalization trade liberalization investment liberalization so i think this is a very important factor probably one of the best factors in terms of russia's investment climate in the past several years first off thanks what's your analysis

. now that's it for now but you can always find more analysis and more stories on our website that sarky dot com slash business or join me for another this is less than fifteen minutes time.