six republican candidates race for the right to take on the u.s. president in november selection this as the current administration support is waning across the u.s. . hero zones 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 our team what twenty 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 for 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 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 strong 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 too different. countries are too attached to their own so often t. 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 to have one address that foreigners can coal 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 angela merkel she said that political union is already taking shape is it though and what is she basic that's. it went on well from where we are we are making progress in the in the sense of her 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 you know 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 can see 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. idea that i think that in the end to

a backfire because if you make centralized this power too much. then what we will see is it means a lack of dynamics a lack of the flexibility as we've seen already because takes forever to get these decisions and then take for ever to go 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 lot unless it clinches the 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 steady 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 to 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's. 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 to me going to meet. economy is going to do worse which also makes it more difficult for me to quit ereal and so it is simply not

a sustained this is a sustainable situation the best spreadsheet is to do what iceland did to 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 of an effort 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 in 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 be 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 the people usually withdraw behind back behind the border so to say and basically talk about national interests 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 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 establishment so

if you walk around brussels you feel like you are you 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 is 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 see 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 your 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 ask me to. that i see action an opportunity arising if we give up on an ideal that i think is an old fashioned one. and sort of people. for the next stage now when you 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 it is unfair it is unjust. and it's also dangerous for should say the military of our economies 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. man. 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 forty four bridge then. we are counting. property drowning and i think it's spread by it's cutting off our. it's making real democracy. all but impossible.

technology innovation. developments around russia we've. covered. the latest news in the week's top stories and there is no hope to the killings in syria as the arab league gathers to debate the future of its observer mission aimed at overseeing a peace plan critics say the league's efforts are failing to end the syrians regimes crack down on the opposition. iran promises to hold more navy drills in the persian gulf and threatens to block a key oil route in the region if the country's crude exports are affected that's as the west to tighten sanctions targeting tax and financial sectors. also get obama mitt romney is in the lead at six republican candidates race for the right to take on the u.s. president in november selection as the current administration support is waning

across the u.s. . and sunday afternoon here in the russian capital time now for sports with kate. thank you for joining me at the top stories battle of manchester paul scholes comes out of retirement as united goes off rivals city for a mouthful from first. time this sunday often a. while warming up on the maury enjoys the perfect preparation for the australian open with a straight sets victory aleksandr all the public there's been international. lions teams drew brees throws three touchdowns to beat the new orleans saints to an end of sea wall called victory over detroit in the n.f.l. . but first a football and former england midfielder paul scholes has come out of retirement for the rest of the season is on the bench for manchester united as they go to

archrivals lunch to city for the first of four f.a. cup third round ties the sunday afternoon so strike away rooney could be getting some familiar support from it failed thirty seven year old scholes had called time on his glittering career at the end of last may and was coaching at old trafford after making his united debut in one thousand nine hundred four he went on to win ten premier league titles the if i cup three times and the champions league twice however the sixty six come in the midfielder has not chosen to play until the end of the season for his injury hit for the club while missing down fletcher and tom cleverley in midfield and has been named on the bench for the crunch time at city well the big showdown to be as you have stated will kick off in just over ten minutes and he's the first of all cup ties this sunday later six time when his chelsea host portsmouth lifted the cup four years ago elsewhere sheffield wednesday meet west ham and martin o'neill sunderland something chippy to grab. well

meanwhile there was one top flight casualty and two headline making draw list among the twenty six ties on saturday among those burning on the walls were replaced often gold is from. darby danny graham scored twice the swanzy rallied strain for two bars late aston villa eased past bristol rovers three one everton beattie part time this time with two nil dempsey scored a hat trick is full of trash chatter for an end in the london derby and tony putus took the scope size to form a chilling and i came back to win three one. one of the two key draws david waited late head to help bolton start your reply to get back all spilled you want sixty four places below the elite and quite helplessness last wednesday equaliser while injured q.p.r. were down to ten men and rangers a replacement ones and they don't want to give the other struck a stoppage time winner as newcastle came back to big blinds who wanted me only in the premier league tie a deflective shot sort of part of the county are stranded fightback to market top flight weekend to long run publishing co bank the second is to be believed to

challenge three you know and simon cox netted a hundred as west brom held off cardiff forty. tennis now and andy murray has enjoyed the perfect warm up for the upcoming australian open with a comfortable victory over alexander dog a ball off in the brisbane international final right from the start of the world number four showed his intention to clinch his twenty second title and first under the guidance of new coach former world number one van lendl while the scot won his first three service games without dropping a point on the way to a four one lead we faced little resistance from ukraine and before taking the first set six one the world number fifteen started the crowd into life in the second but it was not enough to stop murray from wrapping it up six three for impressive first on the new a.t.p. tour season murray's focus which is to the australian open has been a big difference for the past two years first grand slam of the season starts on january the sixteenth. also want to thank you.

mr learn go out there somewhere hiring. its mark. we were your team and you know it was good really enjoyed it so book will bring more success in the future. and finally. thank you very much the crowd the whole week not just for my matches but for all of the matches it is packed you know it makes a huge difference when everyone comes on sports events that are really really appreciate it so thank you look forward to coming back. and going to the n.f.l. now where drew brees tree for four hundred sixty six yards and straight up stands to lead new orleans saints to a forty five twenty eight and if the wild card victory of the detroit lions new orleans set a new postseason mark for total yards six hundred twenty six beating the previous record set forty one years ago. five the ball downfield devery henderson of course is in his stride running for

a forty one yard touchdown as new orleans went seventeen fourteen ahead and in the fourth quarter we saw a forty one yard pass robert mitchum to the edge of the end zone did hours later handed the ball off to pierre thomas into the dating scene a school so the saints beat the lions forty five twenty eight to advance to the second round of the playoffs about travel to san francisco to take on the forty nine ers next saturday. do i suck in our the russian team a back in moscow off to taking silver at the world junior championships in canada following a dramatic one l defeat to sweden in either time the junior red machine failed to defend their world title after losing two matches at the tournament and both of them to over win a strike luna who took goals to clinch their first victory for thirty years russia will host next year's championship in the southwestern city of fog however that team didn't seem too disappointed good silva as they won their so-called mini final by continue to earn

a lot rivals canada six five in the semifinals to end the maple leaf streak of ten consecutive final appearances. 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 drank also have discovered. five directions of the world is a martial arts school for boys. the russian republic of dagestan some even call it the shout of the caucasus intrigue yet well i certainly was as god check it 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 gold and silver medalist in beijing in two thousand and eight. same i got my move here with his wife in nine hundred eighty three with just an idea and that

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 faith one to means that we're following global laws apply 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 add space people become more developed spiritually then 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 very effective in teaching these 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 even if. that fighters name is mostly sally hope who was also named the king of kong flu becoming the only non 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 now 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 country's its operated in terms of education besides the gems and other training facilities it offers suitable classrooms where according to teachers they become decency young adults looking. 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. into teaching them about values. say not to mind his more than a founder of the school and a more schwartz 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. that's old school for a couple of. the

official. pulled talk from the. video on demand. feeds now in the palm of your. wealthy british sun it's time to go to the front. of the. markets.

find out what's really happening to the global economy for a no holds barred look at the global financial headlines to name two cars a report on our. planet's news and week's top stories are there is no help to the killings in syria as the arab league gathers to debate the future of its observer mission aimed at overseeing up peace plan. around it promises to hold more navy drills in the persian gulf and threatens to block the peak oil rout in the region as the west tighten sanctions targeting tactiles oil and financial sector. get obama six republican candidates race for the right to take on the president and november's election with the current administration's support waning of probs the us.