or just a rock n roll bag sitting for the job we're doing. a very warm welcome to you this is all see i'm like that from. president dmitri medvedev says the publication of the results of something the elections people spiral far investigation takes place meanwhile russia's prime minister calls for dialogue with the opposition but warned foreign powers against meddling in the comfy is full of its. nato isn't taking russia's concerns over the european missile defense into account and isn't ready to seriously work together on the shield and strong words from foreign minister sergey lavrov follow and they say russian you

see in brussels. and you're a d.-day leaders race against time to save the single currency by gathering states under the brussels on broadway they agreed to lose the power to govern themselves germany and france are pushing the new e.p. treaty to find the nations and to close their fiscal union it is in taxes and penalties. other financial fallout from the euro crisis tends to ignore borders with the squeeze felt far beyond europe next gets expert insight on what's likely to be a slow drawn out recovery. 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 city 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 eurozone 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 the united kingdom it's interesting game because really if you see a whole economy develop here when you're functioning window on so many projects in change from twenty five percent to ten percent of the same time financial sector grew from five percent to ten percent did you do so now way on american footing so it's not only about europe but it's about overall contamination of financial system and clearly its financial system as london is a financial center. this is a 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 the politics should come in and what what is really going to move this in because

politics is the concern that it is expression of economics really. european union was a part of. a larger political project which took almost fifty years since then the second world war and this unification and fiscal unification was people talking now it's 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 a real at least score for losing people that people are eating and therefore putting at risk if the fair facility which effectively was created to solve its financial problem it's definitely different game for germany and for france and timing wise as different as well because for germany medical see that as a model for and relieve this sort of problems which work in related during thirty forty years of that expunged from an uncontrollable spending if you like to sort it out and three months or sort of political whether it's. the locals 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 there 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 of cheap credit then the issue of control is not so high. or it's better to have smaller or smaller collapse or for real euro countries with a stronger economy and stronger can't sing. so. it's probably less a question if greece is going to stay in the euro of them. because if you talk about italy. and on hundred billion the frankly 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 the result of util and visibly gave out all in euros so you i when you put a structure or it will affect 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 for more we truly immediately the chain of events across not only italy where inflation unemployment the sky loaded but it also will immediately the biggest 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 have most often on the news when people talk about the financial crisis do you think it's had any effect on the way that bank has operates definitely because of the fact. we can talk about the effect because there are several sides that is the great that is so that there is an increase in the

required capital then that is obviously all question or for easy money control. of conflict of interests and they all different angles of the question. in terms of how banks are great at banks definitely better late than never and you need to look at profitability about 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 regulation on and the regulator incredibly busy things trying to split investment money from corporate side clearly a lot of seen that just regionally in the structure we will disappear so just cutting in the regulating will kill that part of services which will drive down for the ability of a bunch if you were to increase cable television then that will drive a car if the ability of banks even longer then you start regulating bonuses what's happening it's a very competitive industry so what banks did they cut the bonuses big way greaves governments because most of what they mediately increase sell is to banks so now

when people say year we're not getting my bones are you actually getting to them sell it 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 bun business in principle you supposed to generate more revenues not cut costs and say where are we now in terms of getting out of financial trouble it's a very long process. if we. see post-war that was what down and how it was deal to is to create. them plus years it's twenty years it's a very slow process that is a huge amount of that. 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 and those from states also very it's most publicly known issues

but he's also hit them that which is coming from pension liabilities we don't talk about it 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 plants 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 in them closer relationship between the government and banks closer to good if and grow closer to the site and in this sense again it's 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 amount of years you need to get out it's not the one year we not super positive for next year in terms of it's not going to be two thousand nine hundred percent that we don't think so every stage of the financial crisis is bigger scale and. 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 area which were not affected so going into emerging markets increasing labor costs increasing inflation so making emerging markets less competitive therefore less able to pull developed to pull developed markets from the from the crisis and more and more money. in the system of effectively. dealing with

a sentence which was supposed to. call financial call 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 if we talk about gold or a mix of currencies or what i think some point whether it's. beauty contest so it's not the euro is but got instead it's maybe some other currency even averse than the euro and it's a question of comparison clearly depends on the your profile in terms of overall us of course we don't believe that high yield fixed income offers and the thing about unity is it's very difficult to put on the gold because it's a mix between the facts and he's covered. in metal so it's difficult to predict but gold walked particularly well and in that it's in the years more for the cage and his investment and absolutely done strategies it's unlikely that we could going to produce as much of it as it was before fueled by easy money. so that really

absolutely it on strategy is what people and pension funds go if that is the law low yield environment and for that we can learn from japanese 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 fosters if here it's three percent five percent there it's up to thirty percent. because we know what government wants not going to make them money and probably not going to make them money so we need the war for something more. longer term but then clearly that i am to extract the absolute performance of a midwife or forms killer lenski thank you very much thank you.

completely controlled for many years in this albeit system has faded away in less than twenty four hours as bell of this kind of push up coupled with below we acted in a true russian style we didn't know exactly what the future would bring that were to think about later three leaders come together and sign an agreement dissolving the u.s.s.r. for good or to get rid of the so called big brother that was always controlling them was the dream of many republics work. but in the eyes of the people they put it like this i will liberate you from the kremlin oppression no one wants to take the blame but we would not be able to persuade gorbachev and besides she's word could not be relied upon. he could tell you anything and do something completely different question for you myself for being too liberal and in the sand boris yeltsin or i should have that was my mistake. this is the decisive in strict boris

yeltsin that sucks in the kremlin instead of good stuff at the time. when i don't think we have left elevator forest soaries of. two decades have passed but the discussion still rages was this applause for a fait accompli. president

dmitri medvedev says the publication of the results in sunday's elections could be businesswomen develop our investigation takes place meanwhile russia's prime minister called for dialogue with the opposition to warn foreign powers against meddling in the countries in this from the friends. nato is in taking russia's concerns over the european missile defense into account and isn't ready to seriously work together on the shield the strong words from foreign minister sergey lavrov follow when they say russian music and brussels. and hero d.-day leaders race against time to save the single currency by gathering stakes on the brussels

on broil or if they agree to lose the power to govern themselves germany and france are pushing for new e.u. treaties define the nations of too close to fiscal union with the same taxes and penalties. next the latest from the world of sports with dmitri. hello there welcome to the sports and not in the sports. make that double for the first time ever there will be two russian sides in the last sixteen of the. joint on wednesday night. nothing but. perfect in possible euro lakers sending their winning streak to eight games in the competition . and clear to play in england final group game i think you are trying to

get her juices wayne rooney's three match ban to two. so let's start with football where russia will have two teams in the knockout stages of the champions league for the first time next spring so their place on a wednesday thanks to their victory at things were not looking too bright heading into the. car needed. away plus there was one more condition needed for progress draw in the other group between tribes on sport so the muscovites did their part in milan living it late though. with four minutes to go see of the fire result off to one in favor of. poor men while did the rest. of the two sides failed to finish the goal it's in france so. unlike this sport had already qualified for the players during the previous game week while the turks must be content with the europa league now. we created plenty

of chances on a regular basis our opponents had plenty of opportunities as well especially when diego believed to have the crossbar with the game tied at one minute but we were able to execute superbly when it came to the set piece immediately following not happy. with. machine artist with most certainly a night to forget for only the third time in seventeen years alex ferguson's chargers failed to make it into the last sixteen of the champions league a two one loss to basel left them in third place in their swiss opponents taking seconds and to think of finish on top following a victory over pointless. when you read from home when you were no don't. you have a job to do. and. don't want to lose really hard. going members who story. another city another manchester

should say will not play in the european cup next spring either better mention is made of were denied entry into the knockout stages despite beating table toppers by a minute to nail they finished third joining their cross-town rivals in europa league was no place secured the second qualifying pelts. a team that usually with them points all the team to always. ninety nine percent made this group. was not enough for in that neighborhood sort of did one point more than i said in their zeal to to go. and finally a group to witness the fastest the trick in the champions league history three goals from but the team began with in seven minutes helping the french side record a blistering seven one victory away to an arm of their own there for a try outs for the second qualifying place after the dutch were beaten by real

madrid in another and marina's charges made it six ways from as many games. last season or with the morals. sometimes very well another match not so good in these moments 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 were listed. well when one is cleared to help england in their final group game at euro twenty twelve against ukraine that's because he. has been reduced to two remember the twenty six year old player received a red card for kicking their drug which it's all drop with montenegro in. lawyers apparently put a strong case together in the effort headquarters in switzerland pale a letter from himself asking his attackers band to be reduced so they will miss

england's games against france and sweden. when will be available. for the final group game of the european championships against the ukraine so in effect a too much suspension with garrido for a four year period for the national teams so we're very pleased with that today wayne's presence here was clearly important so i'd like to make special thanks to manchester united to david gill to surat ferguson for releasing wayne to be present . it seems possible to have gotten hard to lose that muscovites now undefeated for aids games in the year and a half to be in the russian capital on wednesday night prior to the game of director lanka and chris stage as the competition's players of the large four and november respectively. forty seven watched them and gordon pick up the slack for

his side the american leading the way with a take eighteen point krista showed his what was one posting yet another strong game with fourteen points total four to stop a double figures to overcome the throats resistance cheska for an eighty seven to seventy eight victory. so under lanka was a mess spectator of the night but has been an important part of scars impressive ranch so far this year with the n.b.a. season due to get underway later this month for my you to just forward his decision to make stay or go. ask him that very question. in one thousand nine hundred nine and a kid in a language became not only the first russian to be picked 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 sammy years before becoming a free agent and moving back to european powerhouse says can moscow. twenty eleven

so the revival of russia's red army club in a 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. palme definitely looking at the office. when i signed the deal with. here that. i'm going to be leaving me the 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 come moscow are now well on their way to their seventh continental title and i'm take it angle has been instrumental in the current campaign and was even the most valuable player of the tournaments in october 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 honor at the two thousand and eight olympics in beijing as well as a visit to the kremlin ahead of the games and if russia finishes in that salt three at the wildcard tournament in july of next year kirilenko could go for a third attempt at a gold and that medal. shows a lot of promising. young guys that you know we play in the way better as a team young guys you know stuff you know fill out those roles 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 being national team for the next year you know playing that qualification two thousand and five before the olympics and break it and go is very active when it comes to promoting the game of basketball

especially in russia what thousands of kids turned up to witness. him and another in the starred white howard and i live in moscow last summer he stayed in one place for hours just signing autographs for anyone that asked becoming a true champion all the people in the process remarked cos through r.t. moscow. in winter sports allusive on has won her first world cup a vent on home slopes the twenty ten olympic champion topping the super g. standings in colorado where the event moved due to lack of snow in the french alps made it challenging course look easy by taking the early lead however it was a start by foreigners who could rely on raucous home support as she lives in nearby vocal rider the twenty seven year old taking the victory with suitors second and australian in third more now with a massive one hundred thirty six point lead in the overall standings and also on top of the super g. table. said news now

a russian light heavyweight boxer. has died after failing to overcome the consequences of his loss to secure a couple of week twelve round bout for the w.b.c. asian boxing council title ended with a technical knockout in the seventh round slipped into a coma right in the ring and was immediately taken to hospital where he had surgery unfortunately it was enough to save the life of that russian fighter from once a month off was twenty seven years old. ok up to date no more sports news from around the globe put into eyes turn him an hour to stay with us.

emission free accreditation free in-store charges free range means free. free. to try free. old free blog can plug in video for your media projects and free media and don to r t v dot com.

that's.