and obama so far former massachusetts governor mitt romney is in the lead while the president himself is seeing his once vast support slip away. they are ozone is rampant unemployment and widening costs have spilled over into the new year with warnings that parts of the region could already be in recession next a prominent dutch economist tells r t what two thousand and twelve might bring for the struggling. well today we're joined by our you're climber an economist author and professor at the erasmus university in rotterdam thanks very much on mr glover for joining us today and the first question is in one thousand nine hundred one you wrote a newspaper article that a monetary union is not sustainable cannot be maintained without a political union well after all that said and done we have the euro exists and there is a crisis can that a political union save the euro at this point given the circumstances that it's in

ideally. you could say that a political union could be formed to have a stronger fiscal. coordination but also a better social policy that would sort of supporting dural only in my system it is that this europe will not be able to form such a political union there is too much heterogeneity the country is two different. countries are too attached to their own self until they have different styles they have a hard time working together on international issues think of iraq. and so it will be very hard to do to have one address that foreigners can call have and emerge she is there. that they will speak with one voice that are willing to give up their very seats in the united nations and the i.m.f. and that they will speak involved voice it is at the moment inconceivable that

britain will give up their rights but also france is not even thinking of giving that up. germany will become too powerful there's simply too much that prevents europe from becoming one political union if you want a german chancellor i'm going merkel she said that political union is already taking shape is it though and what is she basic that's. well from where we are we are making progress in the stand in the sense of suggestions of because these are suggestions or plans to have stricter rules and to enforce those rules and her view and in her reality that is working moving towards. a political union but my critique is that what is lacking and what they're really needed for political union is also in sense of society i think as an example germany germany is

a society how do we notice that germany is a society the part of germany form east german states. that are a real dire financial economic situation much worse than than greece is right now do you notice anything about that in the rest of the world. because west germans take it as as self as something self evident that they are to support the east german states those massive transfers of money going from west to east to maintain a sense of unity and a sense of stability and for a sense of society those conditions are not in place and not can be imagined to be in place in europe at large how realistic is this transfer significant transfer of powers to brussels spending powers taxing powers given that you have so many different countries there's resistance coming from different

places how realistic is it that it will actually happen the pressure is huge and the financial crisis is big and the euro threatens to fall then lots of things are possible and politicians will agree on all kinds of things including transfer of power that was inconceivably before or is actually conceived inconceivable right now because people don't want to transfer the power but when the crisis. really there then i see them. being able to do such a thing but it won't resolve matters because it means that you put some kind of control in the hands of the few they're in brussel but they don't have the power to control the financial market they don't have the the financial power to deal with these kind of instabilities and they don't have the political influence to deal with all the different interests throughout europe it is sort of

an. an idea that i think that in the end to a backfire because if you make central this power too much. then what we will see is is it means a lack of dynamics lack of the flexibility as we've seen already because it takes forever to get these decisions and then take for ever to get through all these different parliaments and it takes even longer then to implement that i mean that we talked about long lags. and so it just makes the politics too complex the greek government spokesman said quote unquote greece faces an exit from the europe block unless it clinches a deal on a second one hundred thirty billion bailout from its international lenders how much do you think they really believe in this threat is it something they really think is likely or are they using this rhetoric to gain support for pushing more sturdy measures i think that they use it now as an argument to enforce all kinds of

cutbacks and to get popular consent which they need into in order to make the policy effective i think that greece is still an overall desire to hold on to the euro and the reason is that the greeks are very suspicious of their government do so they desperately want to have european government involved in their country because they're sort of a countervailing power against their own politicians the same story applies to the italians. another issue is whether this is going to work i don't think so i think of the left right and center are preparing for. the fall out of greece that the greeks are forced to step out of the euro because this is unsustainable there will not going to need to tyria. the economy is going to do worse which also makes it more difficult for me to create ereal and so it is simply

not to sustain a sustainable situation the best spreadsheet is to do what iceland did argentina because dawn and so many other people other countries have done before is allowed to have their own currency devalue it so to make their country much cheaper i use that as sort of the beginning all the. efforts to organize commercial activity that the neighbor has done to sell you have to recover that and sort of and one way to do it is by lowering the price which you only can do with your of your own currency and to make it much cheaper if you don't do it the only alternative strategy is the very painful one is lowering salaries and wages and cutting back and that causes a huge depression in the economy and a real harsh way of making that adjustment well let's talk about politics now the two main cheerleaders pushing the euro forward of course and germany's angela

merkel and french president nicolas sarkozy now there will be the french elections in two thousand and twelve that germany will have theirs and why thirteen what do you expect to happen in these elections and how would it affect the european union and the euro zone would we see a change in government a change in rhetoric that would eventually play out differently in the euro to hold on to the european union and especially to hold on to be euro. everyone has to make sacrifices and it's always possible the european interest prevails over national interest and that's a message message is very hard to sell to any lection time you see in election time that people usually withdraw behind back behind the border so to say and basically talk about national interest interests that are close. to the people who are going to cause their vote. it turns out this whole european story is

a hard sell for politicians to strew in germany in france is also true in the netherlands. and so politicians always have a difficulty of asserting the sort of common european interest. that is costing. money but also resources. will suffer until that also is again an illustration of a lack of political union lack of society that will become an issue and that the fate of european union is dependent upon local or national elections and that's of course crazy i mean you can of the magine that a country any country. that's faithful of any country is dependent upon the outcome of local elections that's unheard of and that illustrates once again the the union in europe is not all that strong and is forced to exist among

the sort of european establishments so if you walk around brussels you feel like you are the european union is for real but as soon as you are away from brussels and walk around in the country in the rest of europe you see the brussel is far away from from them. and it's not a real reality that people we live with now when we talk to experts analysts and economists even if they are euro skeptics the situation seems to have gotten so complicated that they would also mention concessions and they're saying that there are two choices now one is being forced into more europe more integration otherwise the alternative is a financial crisis are these the only two options left. i do think that if if you give up you up the euro which i think you need to do we will face a so-called crisis i mean all kinds of institutions will get into serious trouble

banks will fail countries will look at the trouble unemployment go up we will feel your face a serious depression i think all that will materialize but what i also see is the possibility and that's what i would focus on of restructuring rethinking the way be doing things rethink also the way we view the economy focus less on economic growth focus more on quality being more concerned with sustainability and so if you as we have for that i see action an opportunity arising if we give up on ideal that i think is an old fashioned one. and sort of p.p.o.'s holds for the next stage now when we look at what politicians are doing right now it seems that they're walking on eggshells when it comes to dealing with financial markets and banks are careful not to rock the boat they're careful not to instill confidence in the markets what role do you see the financial markets and banks playing in this

current crisis lest we forget that they had also that just gone through two thousand and eight financial crisis and they were painted in a negative light at that time well the terrible thing is that we see that one sector the financial sector is keeping the rest of the going you hostage including the politicians and all the politicians are too scared for these banks to fail it is is unfair it is unjust. and it's also dangerous for should. you have already connolly's so that has to stop are you a climber thanks very much for your time. this is our time. to reclaim the american dream and reaffirm that fundamental truth that out of many we are one that won't we breathe we hope. to me the american dream

is to live in peace and prosperity and freedom and a government under socialism is not a government a free. i'm sorry. to. hear. you have very motivated out cross the country who are activists who are willing to fight for what they think is right for themselves but the fact is already we're bridge. we are counting. property drowning and i think it's threatened by it's cutting off our. it's making goldmark recy. all but impossible.

week's top stories in today's news from r.t.s. syrians say their final farewells to the victims of friday's blast in damascus the arab league observers prepare to reveal their initial findings all the countries on the rats. around announces plans for new war games in the persian gulf after repeated threats to block the key oil route in response to u.s. and european sanctions. and the mudslinging ramps up as u.s. republicans campaign for a chance to challenge obama so far former massachusetts governor mitt romney is in the lead while the president himself is seeing his once vast support slip away. up next it's the sports news with kate.

hello and welcome to the sports these are the headlines. giant killers tottenham cruised through the league to swindon starting wigan while bolton and q.p.r. could only train draws on a dramatic day of third round action in the f.a. cup. won the steyn puts the united denial record that england striker way is to be sold in the january transfer window . as dagestan dojo we take a trip to the caucuses national arts school for the first long chinese of kung fu he was training. at first english football where league two side swindon beat premier league wigan while top flight bolton and keep it all could both only draw

against lower league opponents in the traditional new year the f.a. cup third round well twenty six matches took place on saturday and among those danny graham scored twice as swansea rallied to be. four two and was no reply after that goal the smitten doll very evident the part time this time was to nail him then see scored a hat trick has fallen thrashed charlton born allan a london garvey and the previous took his stake signs on the top joining them where they came back to win three one david we says late help dalton's that into two draw under replay because michael's failed long sixty four places below them in the well as well as high they held us and snatched the last minute equaliser and a replay drew one want to move on and on the injured rangers were down to ten men on us but the others struck the stoppage time without as newcastle came back to beat but went to one of the only premier league tie deflected shots i'm so proud to

carry a swindon fight back in the top flight we can to one. rather than go back the second is to the big league teams challenge three male and silent cocks netted a hat trick at west brom held in cardiff for two. kind of the means i mentioned i should have denied a report wayne rooney is to be sold in the january transfer window a british newspaper claims rooney his relationship with managers around expires and has broken down well earlier this week the striker was fined a week's wages following a night out but a joint statement from rooney on the club said the report was complete nonsense the twenty six year old went out on december the twenty six following united five wigan he was going to drop to the three two defeat by blackburn before returning for the three no loss at new council substituted late on rooney agreed a new five year deal at united in october twenty ten two days after saying he wanted to leave. staying in manchester city will be without ya and color to a for sunday's much anticipated cup clash at home to rivals united i agree coast

manager france was away has told the pair they must report to the nations training camp this weekend ahead of the africa cup of nations the coach has opted to follow fee for rules which allow call ups two weeks prior to the tournament while city coach about the munching it says ja to raise absence on sunday could be an issue for his team. if i do that we can never problem in general you can have a problem because the area is an important player for us. we call is different because we have great defenders and there if we are lucky we are very injury. that. i don't feel that we can make a big problem we did events but with me three that we have a big role before some parts and that we have only two games and niger. and the big showdown at the as we have stadium is the first of four more us like upside down times on sunday night later six time winners chelsea host portsmouth

lift the cup four years ago scratch sheffield wednesday need west ham and martin o'neill sunderland getting championship peter brock. while here in russia dutch club very very very very like it's a teenage nigeria we've got to make new so is set to sign a for the holiday or test the most but it's not just logical the nineteen year old joining at the easy twelve in the summer of twenty ten and scoring eight goals in thirty three games and that he wants his national side in twelve appearances. and is now i'm sure wilfried tsonga has beaten his fellow frenchman girl one feast in straight sets to win the final of the cats all right and with just over a week to go until the first grand slam of the of against the australian open the surge seed short dollface thirty five minute call delaying will find his eighth career title. we need four meetings against the one of them sixteen while one face have knocked out rap on the dollar seventy finals and broke the world in the sixty

first game and played a stop when he seemed to five three out and then some to fall back to sixty as the next nineteen points against the set seven five song get them back one face at three two up in the second avenue break set wrapping it up six train. twice ok now where the russian team have arrived back in moscow after taking so over at the world junior championship in canada following a dramatic one l defeat to sweden in overtime the junior red machine failed to defend their world title after losing too much at the tournament and both of them too low for winners three closer to gold to change their first victory thirty years russia will host next year's championship in the southwestern city of far however their team didn't seem too disappointed with so over as they won their so-called mini final by beating eternal arch enemies canada six five in the semifinals and a maple leaf string of ten consecutive final appearances. it was

great to beat canada i will remember that probably we were emotionally exhausted after that question but it is really disappointing to lose in the point zero in a little over the period piccadilly were everyone wanted to win so the guys were first rated but got no very well prepared in every aspect to defend the title unfortunately we failed in the final of such a tournament chances are fifty fifty no matter which teams compete. and finally a martial arts school in the heart of the caucasus was celebrating last year after one of its students became the first known chinese to be named the king of kung fu but that's not the only thing that makes this dojo unique john coster have discovered. five directions of the world is a martial arts school for boys. the russians saw the republic of dagestan some even call it the show in the caucasus in-tray get well i certainly was that's good check out the school is located in hollenbeck old just over the mountain ridge from

the driest any capital over the years is produced and world and eleven european champions as well as a little to gold and silver medalist in beijing in two thousand and eight. say mother maya moved here with his wife in nine hundred eighty three with just an idea and it tends to live and now it's a fully fledged educational facility that nurtures talents from a young age through to graduation from five directions of the world afford geographic points with spray spraying the fifth one to means that we're following global laws clickable to all people in the world and we want these values to dominate other religious national and other values when people live in just four dimensions it is a lower level but as you and space people become more developed spiritually they will patient kind and can live in peace with each other we decided to develop these

qualities through sports chinese martial arts have deep philosophy rich history and important values so that very effective in teaching these are not just words for us we cannot lose our children let them become terrorists. this sound is heard each time one of the boys wins a medal in various events held in russia or anywhere else in the world look at the same works and lives right here at the school and leaves only one his students take part in major competitions but all the trophies eventually end up right here at the five directions of the world. this trophy is given at the end of each year to the winner of the conflict world cup one of our students won this trophy it is a very valuable price basically it confirms that he was the best fighter of the year so even if. that fighters name is mostly in sally hall paul was also

named the king of kong flu becoming the only known chinese warrior in the world to be awarded this title though he graduated a while ago mostly still considers it an honor to come by his alma mater to train and convey the philosophy of the next generation which. this is really a unique school first of all it discipline students you are always doing something meaningful practicing studying you have no free time i think that is very important for young people today it doesn't leave room for bad things drugs terrorism which is a big problem today sports can save young people especially in our school kids practice study they're always supervised. the martial arts are the foundation of the school education is equally if not more important in raising children for now the school is out on spring vacation so good say not has some time to play with his grandkids

but that doesn't mean that faculty is an active. while the students are away in a spring break the teachers are busy preparing for the next term the boys should be arriving quite soon for another semester of martial arts and learning the school is now home to three hundred boys from all over russia the martial arts specialisation hasn't prevented it from being one of the countries it's operated in terms of education besides the james and other training facilities it offers suitable classrooms where according to teachers they become decency young adults. as if we graduate a half literate student is not the worst thing in the world the worst thing for us is to graduate to badly behaved student so we pay a lot of attention. teaching them about values. you say megamind his more than a founder of the school an immortal arts guru his artistic talents cannot be underrated as his students may also witness his artwork each time they have a meal and these paintings are also educational showing the young bucks that

everything in this life should be accepted as a whole in union with good and evil. koester of artsy russia south the republic of dagestan. have. ice and. white stream cascading from modern slopes the view is mesmerizing. but this beauty brings deaths at a speed of more than four hundred kilometers per hour. the stepping down of a long run on.

news today violence is once again flared up. these are the images the world has

been seeing from the streets of canada. trying to corporations rule the day. the week's top stories in today's news from our t.v. the syrians say their final farewells to those killed in friday's blast in damascus as arab league observers prepare to reveal their initial findings on the country's on iran's. iran announces new drills in the persian gulf after repeated threats to block of people oil while the west slaps fresh sanctions on iran over its nuclear program. and the mudslinging around the south as u.s. republicans campaign for a chance to challenge obama while the president himself sees his once bounce aboard ebb away.