video on demand. and street now in the palm of your. very warm welcome back it's home boss now ahead in a mosque a russia's prime minister has reaffirmed the opposition's right to demonstrate but is calling on protesters to respect the law but the man who should also he says he's a pretty dialogue with the opposition. but old not so what it seems when viewed abroad is the that is take a twist in foreign news coverage america's fault this is only used images of the rising greatest while claiming the. huge insecurity is at stake

is russian and nato foreign ministers that tries to sound cold vital sticking points out of greece he keep cool bracing for moscow on the alliance from a good old save the books deployment of a missile defense system in europe which the kremlin considers a threat. the single currency is about to face its toughest test seattle his european leaders gather naser for a crucial summit on the year is a debt crisis to the french and german proposals to impose tight budget controls on fiscal rules for the rest. of financial fallout from the euro crisis tends to ignore borders with the squeeze felt far beyond europe next aussie gets expert insight on what's likely to be a slow drawn out recover it. today i'm talking to cuba who's the managing partner of fusion asset management based in london we are talking as ratings agencies increasingly look at downgrading the debt

rating but the entire c. of the year is a including financially healthy countries like germany mr lecky thanks for talking to us today now this is a crucial time for the old europe is pushing for more fiscal unity and meanwhile the u.k. is backing away from it what's the solution do you think i think for united kingdom with interesting game because. if you see a whole economy develop here when you're functioning window on so many change from twenty five percent to ten percent of the same time financial sector a good move from five percent to ten percent g.d.p. so now we're on a vocal footing so it's not only about europe but it's about overall contamination of financial system and clearly its financial system has london as a financial center. this is very important for the united kingdom and for that are two sides of the game one is political and economic and another use financial infrastructure one and should politics really come into what is essentially an

economic decision absolutely politics should go you know what what is going to move this in because politics is the concern that if the explosion of economics really. european union was a part of. a larger political project which took almost fifty years since the second world war and this unification. fiscal unification which people talking now is just the last or latest step in the overall process therefore every country needs to decide how closely integrated it wants to be in the political process and the line of united kingdom so far was actually very reasonable if you see what happened in the europe recently and how much united kingdom would be affected what was done so far was extremely clever but what about this kind of forcing of the issue i mean you say that fiscal union is the natural result of political union but

isn't it the case now that the political union and the fiscal union is kind of breaking up and people like merkel and sarkozy are trying to force it back together this is true to some extent. but at the same time we need to remember germany. and then there will be they are playing. if you look at the situation if you look at the information then france has that he'll score for losing people that people are eating and therefore putting it to. the fair facility which effectively was created to solve a financial problem it's definitely a different game for germany and for france and timing wise is different as well because for germany medical see that there's a model for really of this sort of problems which work can relate to doing thirty forty years of that expunged from an uncontrollable spending if you like dark and not just sort of three months or so of course you. have

a reluctance so it's happening in next two months and very publicly and politically because the real problem in his own country how much economic logic is that in throwing everything at preserving the there is economic logic. but the question here is. is it the same europe same country is which were accepted for political reasons and at the time or for cheap credit then the issue of control was not so. or it's better to have smaller or smaller kolob or for real euro countries with a stronger economy and stronger currency so. it's probably less so the question is going to stay in the euro. because if you talk about detailing italian one. hundred billion the very board three hundred billion of government. but also two

hundred plus billion of it one of our financial institutions them because four hundred fifty billion or five hundred billion of deposits on the streets and if you rules out of utah and visibly gave all in euros so you why when you put a structure or it will fit for the banking system one thing system will bring recession in the country but also in the whole euro because then you have one point seven trillion the euro or four call them formal or we truly immediately the chain of events across not only italy where inflation unemployment is highlighted but it also will be media that is similar effects in the european countries so losing greece and moving into these two different games let's move on and talk more generally about the financial crisis people are blaming the bankers they're still doing it's what you hear most often on the news when people talk about the financial crisis do you think it had any effect on the way that bank operates definitely has an effect. and we can talk about the effect because there are

several that is that if. there is an increase in the required capital then that is obviously all the question of easy money control. of conflict of interests and they all different angles of the question. in terms of how banks are graded bonds definitely better late than never and you need to look at profitability of banks forty percent of income of banks coming from non interest related activities which are services which is basically investment banking so now if you start pushing relational and the big relating to believe these things and trying to split investment banks from the corporate side clearly a lot of seen that just regionally in the structure will disappear so just cutting integrating will kill that part of services which will drive down the ability of months if you have to increase cable television then that will drive if it ability of banks in the long then you start to believe in one of those what's happening

it's a very competitive industry so what banks did they cut the bonuses because they agreed with governments because bonuses but they immediately increased celebes to banks so now when people say year we're not getting my bones are you actually getting to them which means that fixed costs in banks increased enormously so now we need to cut people that's why twenty twenty five percent of workforce. which means it's not going to be supportive for the bond business in place we're supposed to generate more revenues look at costs and say where are we now in terms of getting out of financial trouble it's a very long process. you. see post-war that was watered down and how it was deal to visit. them plus years it's twenty years it's a very slow process that is a huge amount of the. united kingdom is probably. the country in terms of

total public and state that which is now i think around four hundred fifty percent of g.d.p. so the need that those from states also very it's most publicly known issues but it's also hit them that which is coming from pension liabilities we don't talk about that much but actually it's a huge amount which seats is a liability for corporates and seats as a liability on councils so there is no easy way we all can assume to border is that we need to take it back so there are different ways to pay back but neither of them are going to be pleasant and the one of the lines of force people call financial regulation which means it's a negative real interest rates so inflation nominal interest rates are low it's a couple interest rates government born from captive clients to pension funds if you have to invest them highly rated and highly rated as your government then you need to give money to the government that then you have a. government effectively using this money to pay back that and then that will

bring it closer relationship between the government and bonds closer to british and grow closer to the site and in this sense that image believe it you can pay for the four percent of that a year and then you take the number which you need to achieve divide by three four five percent that's the amount of years you need to get out it's not the one the year we not super positive for next year in terms of it's not going to be two thousand nine hundred percent we don't think so every stage of the financial crisis is bigger scale. considerably more difficult to get out because every time you put in more money efficiency or putting this money is. going down money does appear from the problem problematic areas which were not affected so we're going into emerging markets increasing labor costs increasing inflation so making emerging markets less competitive therefore less able to pull develop pull

developed markets from the from the crisis and more and more money. in the system very effectively. dealing with a sentence which was supposed to. call financial recall the comic system out of the crisis that was sounds very painful at times like this where do you think people should be keeping their money and we talk about gold or a mix of currencies or what yeah i think that some point of the. beauty contest so it's not the euro is but it's maybe some other currency even of the new europe and it's a question of comparison clearly depends on the you but his profile in terms of overall us of course we do believe that fixed income offers and the best thing about unity is it's very difficult to put on a go because it's a mix between the facts. and the metal so it's difficult to predict but gold particularly well and in that it's in the years more for the cage and as an investment an absolute and strategy it's unlikely that equity going to produce as

much of it as it was before fueled by easy money. but really absolute return strategy is what people. who are. lower yield environment and for that we can learn from japan is so japanese are in this situation for ten plus years so if you look at the proportion of pension funds in japan the like eating. here it's fifty percent five percent there it's up to thirty percent. because when the over government was not going to make the money. but it will be not going to make more money so we need the war for something more. longer term but then clearly that i am to extract up the performance of a midwife or. thank you very much thank you.

steve. it's all designed to keep you closed in your. world as a prison. you know you leave somebody in there for a couple hours like that in a stress position. you have this fear of the unknown and this stress sort of building and. i've seen interrogations go on ten twelve hours they chose songs i remember from marilyn manson. slayer the two songs would be angel of death

and raining blood out of me going to war coming up here into iraq coming into baghdad. johnny put the bodies to the floor which is the rock n roll band it was fitting for the job we were doing. well with the true science technology innovation. developments around russia we've. covered wealthy british style.

markets. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines kaiser report on. the nates is. now. we meet in just a moment school that's going to recap the top stories here i'll see you as prime minister has reaffirmed the opposition's rights to demonstrate his porn on protestors to respect the law but even putin also says he's able to dialogue with the opposition. but not to put it simply abroad is the election marches that take a twist in foreign news coverage america's fault sneezes wrongly used images of the rising greaseball claimed the first stage is from moscow a. few just securities in stages russian i'm eighteen foreign ministers try to

tackle vital sticking points and agree to keep cooperating but moscow and the allies are made out all over the blogs deployment of a missile defense system in europe is a crime and considered a threat to. the single currency is about to face its toughest test yet as european leaders gather later while a crucial summit of the euro is a debt crisis consider french and german measles to impose tight budget controls and fiscal rules for the rest of the bloc. that's crazy but you know now he's got all those balls for us good to see you and it's been a dream week hasn't for the russians sides in the champions league here doesn't get much better than this they had. in the last sixteen of the champions league for the first ever time i was smiling widely today their fans a lot of good but not so good that i was a very sides of the mob just a divide on wednesday no certainly not united and city looking forward to your ruble league football not shopping's league the first time in

a long time that united are going to be there we're going to have a look at all that plus the rest of the sport in just a sec. great to have you with us this is sports and we've got plenty head over the next ten minutes including. a double for the first ever time there will be two russian sides in the last sixteen of the champions league this season with joining to meets. nothing but net. ball teams to perfect in the euro league extending their winning streak in the competition to eight games. we get going with the news this morning and thought russia will have two teens in the knockout stages of the champions league for the first time this year well they earned their berth on wednesday thanks to a last gasp when inter let's take

a look at how they did it things were not looking too bright heading into the clash of the san siro. not only to beat the italian giants away soil but also hope the other group b. clash between legal and top songs for finished favorably the visitors doing their part in milan but they left it late. or four minutes from time making all the difference leaving a two on the final score. on the army man's joy was compounded when they checked the. result in france meaning the most unlikely of qualifying spalt already made it through the previous game week while. must be content with the europa league. we created plenty of chances on a regular basis our opponents had plenty of opportunities as well especially when diego to hit the crossbar with the game tied at one one but we were able to execute superbly when it came to the set piece immediately following that i pursued a mike gave us the wind. manchester united with most certainly

a night to forget fully a third time in seventeen years alex ferguson's charges feel to make it into the last sixteen of the european cup a chihuahua lost the battle leaving them in third place in group c. with their swiss opponents taking second only benfica top of the pot following victory over pointless absolute. you refer you were no don't. have a job to do. and. don't want to lose reality. remember it's true story of the game all quiet in the blue half of manchester today as well after months city were denied entry into the knockout stages despite beating table toppers byron munich to deal they finished third thus joining their cross-town rivals in the europa league not fully secure the second ball fine but. i think that usually with them points all the team go to always.

ninety nine percent made these group. or not they are not for that in that neighborhood so did the one point more than i was in this to go through. on finally gripping the witness the fastest ever trick in champions league history buffett simbi goal is three goals in seven minutes helping the french side record a blistering seven one win away to denominate grip on there for edge i after the second qualifying place after the upside down then were seen off by real madrid who themselves made it six wins from six in the. last season there were two more those who beat up and down sometimes very well not a match not so good and in this moment we are much more. much more stable people is much more confident. the team is much more compact and we feel we are going to do and. then we want to. now wayne rooney has one more

chance to try and ensure his participation in the euro two thousand and twelve group stages with england the striker is in switzerland along with manager fabio capello attempting to overturn or indeed reduce his three match ban the twenty six year old receiving a red card for kicking just don't pitch in a two two draw with montenegro and a. nice legal team stating this put a strong case together for all the money you have it's time sell says it will be a bonus if the ban is cut by even one game the appeal of features a letter from himself asking his attackers ban to be reduced will play from sweden and then one of the hosts ukraine. it seems he basketball team has forgotten how to lose the army men undefeated through eight games in the euro league after dunning zagreb in the russian capital on wednesday night and not just the chip on or before the competition players all of them for october and november

respectively on the injured a k forty seven curling to watch gordon pick up the slack for his side the american leading the way the team height eighteen points that showing his award was no food posting at another strong game with fourteen points total for sisk appear sporting in double figures to become fierce like read this since holding on for an eighty seven seventy four victory against the croats in a much closer than the final score line would suggest. so in their car length it was a mere spectator on the night but he's been an integra part of sask a stunning run so far this season with the n.b.a. season judy get underway later this month though the former utah jazz forward has a decision to make stay or go our correspondent or among koester of asked him not very question. in one thousand nine hundred nine and a kid in lanka became not only the first russians of it takes in the first round of the n.b.a. draft but also the youngest european players to be selected in two thousand and one

he joined the utah jazz and remained faithful to the salt lake team for a full san years before becoming a free agent and moving back to european powerhouse says com moscow twenty eleven saw the revival of russia's red army club in large part thanks to the experienced n.b.a. forward now following a successful spell at home kirilenko is uncertain if you want to go back to the n.b.a. part i'm definitely looking at the offer. when i signed a deal with. here that. i'm going to be leaving remember him middle of the season but when it comes to this point you know it's always tough to leave the team in the middle of the season and you know we have a great chemistry. and that's why it makes it the way tougher to make a decision six time you really champion says khan mosco are now well on their way to their seventh continental title and i'm to take it and go has been instrumental

in the current campaign and was even named the most valuable player of the tournaments and it's over needless to say a k forty seven is a regular in the national squad where he helped the team on their way to becoming european champions in two thousand and seven these impressive performance earned the prestigious black berry on or at the two thousand and eight olympics in beijing as well as a visit to the kremlin ahead of the games and its russia finishes in that salt three at the wildcard tournament in july of next year kirilenko could go for a third attempt at a golden pick medal by last euro boss cup shows a lot of promising. young guys and you know we play in the way better as a team young guys you know stuff you know those falls and taking way more responsibility right now. so i'm looking forward to you know to see them next year with having a great season right now and you know of being national team from you know way of qualification trying to right before the olympics and take it and go is very active

when it comes to promoting the game of basketball especially in russia with thousands of kids turned up to witness him and another n.b.a. stars white howard and events in moscow last summer he stayed in one place for hours just signing autographs for anyone that asked becoming a true champion of the people in the process. through r.t. moscow. may be hard to believe but ski sensation lindsey vonn has only won her first world cup event on home slopes the twenty ten olympics gold medalist topping the super g. standings in colorado where the event moved jeter luck of snow in the french alps no evolved as here then on the schedule to chew on season of temper fury meaning leaving the men's birds all of the way down the road and be far beyond she should be challenging for the p.c. by taking the subway so whatever well she aged it's her country at.

my own raucous one supports she lives in nearby field colorado the twenty seven year old taking the victory secure second austrian on a third fall now with a massive one hundred thirty six point lead in the overall standing she also tops the super job. right. now in jordan stretching events are normally held in landscape is quite different from the following thirty six brave souls from seventeen different countries aiming to discover just who is the heartiest all of them all at the bottom of the world introducing the seventh charge of ice morris in chile a name of nature running forty two kilometers or twenty six miles in the great white line no diet a breath of fresh air for most competitors and was frenchman claymont seventy. who took the top honors in the men's cut the rate of thirty seven year old private banker finishing the distance and three dollars forty seven minutes seven seconds not it's any record britain of all and broadly in the ladies' title in four hours

twenty six minutes ten seconds apart beating all comers not to mention the sub zero elements thankfully not polar bear in sight either. really beautiful landscape there and not as your sport for no alice is coming up with the news very shortly after the weather. wealthy british scientists are. time to. market. come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune in to the report on our.