plus you get obama made around the knees in the lead as six republican candidates race for the right to take on the us president in november selection this as the current administration support is waning across the us. their own zones rampant unemployment and widening cuts 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 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 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 to to have one address that foreigners can coal have an emergency 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 they will speak 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. it went on well from where we are we are making progress in the 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. 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 take as an example germany germany is

a society how do we notice that germany is a society the part of germany former 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 therefore 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 central 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 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 in greece there 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 that 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. 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 has gone in so many other people 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 neighbors then 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 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 there'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 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 it's true 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 like a 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 quebec elections that's unheard of and that illustrates once again that the union in europe is not all that strong and it is

forced it exists among the sort of european establishments so if you walk around in 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 real reality that people really 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 as we have for 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 we look at what politicians are doing right now it seems that they are 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 thread crisis lest we forget that they had also that just gone through the two thousand international 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 economy 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 debility of our economies so that has to stop are you a climber thanks very much for your time.

it's not about spilling blood. it's the war about ricky's from one side and fears blockade from the other. invisible border people from the land for twelve year.

the conflict that divided serbia into two hostile parts is still not over. the latest news in the week's top stories and there is no halt to the killings in syria as the arab league gathers to debate the future of its observer mission aimed at a overseeing a peace plan critics say the league's efforts are failing to end the syrian regime's crackdown on the opposition. iran promises to hold more namely 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 tighten sanctions targeting tax bronze oil and financial sector. plus to get obama mitt romney is in the lead as six republican candidates race for the right to take on the u.s. president in november selections this as the current administration support is

waning across the u.s. . it's sunday evening here in the russian capital time now for sports with kate. thank you for joining me and we'll talk sports story is a battle of manchester paul scholes comes out of retirement as united are at odds rival city in a thrilling first of four f.a. cup third round ties this sunday afternoon while warming up on the murray enjoys the perfect preparation for the australian open with a straight sets victory over i would stand a build up all of them to win the brisbane international. and lyons taylor's drew brees throws three touchdowns to lead to the new orleans saints to an n.f.c. wild card victory over detroit ne n.f.l. . but first of all and former england midfielder paul scholes has come out of retirement for the rest of the season and off the bench for manchester united as

their aunt rivals manchester city for the first of four f.a. cup third round ties this sunday afternoon and were in the dying minutes of an absolute cracker at the if you had stadium when really opened against the run and why after ten minutes united two minutes later city captain vincent kompany was controversially sent operate to tackle danny welbeck added a second few nodded off the half an hour and really made it three nil by half time but alexander called off so you know i've pulled it back to three two winning stuff there while in just over ten minutes sixty winners chelsea will host portsmouth lifted the cup four years ago and sheffield wednesday will meet west ham and martin o'neill sunderland to go to the championship. welp thirty seven all scholes is now on the field he had called time on his glittering career at the end of last may and was coaching at old trafford making his united debut in one thousand nine hundred four it went on to make six hundred seventy six million six hundred seventy seven appearances now winning ten premier league titles the f.a.

cup three times and the champions league twice however the sixty six campaign did midfielder has not chosen to play until the end of the season for his former club. go missing darren fletcher and tom cleverley in midfield well meanwhile they would want to talk like casualty and to headline making draws among the twenty six f.a. cup ties on saturday among those birmingham and rules will play after a goal this middle and danny graham scored twice the swans rallied to win four to barnsley aston villa's east bristol rovers three one everton eight part time as tom was to nail them to see scored a hat trick as well and thrashed shelton four nil in the london derby and tony your list of his stoke sides to form a club telling him where they came back to win three one. all of the two key draws david wieters late header helped bolton snatch a replay gets michael steele sixty four places below them in the lead and hide helgason last minute equaliser into q three are we down to ten men and rangers

replay the league ones and tatum's one of the others struck the stoppage time winner as newcastle came back to beat back into one of the only world premier league tie a deflected shot so paolo di canio swindon fight back to knock out talk like we can do to one another genco bank the second when we have to challenge three nil and simon cox let it happen as west palm held of cardis forty eight. ten is now and andy murray has enjoyed the perfect warm up for the upcoming australian open with a comfortable victory over alexander the apollo and the brisbane international final while 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 mandel the scots won his first three service games without dropping a point on the way to a full one lead and faced little resistance from the ukrainian before taking the first set six one well it was number fifteen stir in the crowd into life in the second but it was not enough to stop murray from wrapping it up six three for an

impressive first victory on the new a.t.p. tour season maurice focus now switches to the australian open where he has been beaten finalist for the past two years first grand slam for season starts on january the sixteenth's. doesn't like to thank. mr lando think he's out there somewhere hiding. it's not for us we are your team and you know it's going to really enjoyed it 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 was packed you know makes a huge difference when everyone comes on sports events and really really appreciate it so thank you look forward to coming back. moving on to the n.f.l. now where drew brees strafer four hundred sixty six yards and straight touchdowns to meet the new orleans saints to a forty five twenty eight n.f.c.

wild card victory of the detroit lions well new orleans set a new post season mark with total yards of six hundred and twenty six beating the previous record set forty nine years ago well we fired the ball downfield to devery henderson a quarter in his stride and ran in for a forty one yard touchdown as new orleans went seventeen fourteen ahead and in the fourth quarter brees made a forty one yard pass which is called robert mitchum at the edge of the end zone and did as i said it's kind of the ball off to pierre thomas who took it in but they can see the score so the saints beat the lions forty five twenty eight to advance to the second round of the playoffs travel to san francisco to take on the forty nine ers next saturday. let's continue our look back over some of the big events of twenty eleven and this time it's the turn of swimming in october american star michael phelps took two goals from six races at the world cup stage here in

moscow russia a world record holder you're going to cut addition to perform to his best winning the one hundred meter butterfly consenting but awful was that. despite moving to be formed then after parties playing tuesday for in time olympic champion michael. produced almost an identical set of results on day two of the world cup in the russian capital in the two hundred metres freestyle the twenty six year old american was overtaken in the last fifty by john the world record holder paul be there month and had to settle for silver. and phelps competing in moscow for the first time frame to make it to the boredom in the one hundred metres butterfly where world record holder you gain you cannot the grip first place to the delight of the home crowd i. mean you have all of the it was very important for me to win today so i can say i want to beto and now my aim is to win a war and by that i mean the london olympics. however just as he did on the opening

day felt showed his competitive desire as he bounced back to claim gold in the two hundred metres backstroke after being fourth for the first one hundred fifty metres then their confounded burst of power and managed to surge to victory as our hero some a small thing was to really get to the end of the year being able to tie together some of the stuff you know the starch turns under waters have i can do that as many as i like and leading off in the tail of a child and form a session i drive all the london olympics are just nine months away and berber ations are well underway for the swimming event however there are still four stages to go before the end of the world cup even press fondant and swimmers alike libertines you to gauge who will be queen xing the gold medals at the twenty twelve games is a bit of a o.t. . and finishing with al a back over last year's highlights we moved to the golf course where russia's only female professional golfer but have a shot of us here in moscow preparing for

a tournament in south korea but she took the time outs to talk to abizaid correspondents confident but out off about her colorful life on and off the course . money and it is arguably one of the biggest commercial attractions in women's golf since should turn profession. two thousand and six he wanted five year old muscovite remains the first and only russian. european tour following an impressive career that included in the russian. and slovenian championships i fish because i go to go on tour and i was the only russian player and i always see all the girls are half of them are english british and australian and it was quite tough to get myself like good mates and you know in the end of the day they're playing they're great and in her second year on the tour with the best finish tied for two three since being. real the round of sixty six and white as

a result finished fifty fifth in the door rankings in two thousand and eight to do her best placing so far and despite having some injury problems she's still in bushes and has lots of goals to achieve with her new coach definitely for another five years because of my back i don't know how my but give me a chance to play go further we set a goal when it went to the eighty and hopefully get to win down there with a major i can go. professional golfer and spend most of their time travelling from one tournament to know that we can be the hardest part of the job however well in search of success in the ladies' european tour many funny stories have a reason. to make area i don't mind to say that here there is a cheap hotel and i put my pajamas on i went. to bathroom came back and my role was completely locked fro inside so he had to go because it was going away out so i went outside and all the guys were like oh oh cool we've got the stripper this

now. despite bringing mourners to results over the last two years the trauma stays optimistic and focused on golf however the one meter seventy six told brown to correct a lot of attention not only with her performances on the way but obviously also because of her appearance i'm not trying to attract my attention i'm trying to bring something more in girl that girls like female thirdly here and is again better and better now so many young girls attractive girls beautiful girls getting into girl there are no it isn't by any in a sport which is widely considered to be a hobby for wealthy people in her homeland and there is still a long way to go before being accepted as a mainstream sport in russia but with the likes of their choice to work the country couldn't ask for a better ambassador to lead the way. that's all sport

i think. science technology innovation all the developments around russia we've got the future.

wealthy british soil the sun. is not on the front. garden. market why not. 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 to name two kinds a report on our. mission to free the cretaceous free in-store charge of free. arrangement free. three stooges

free. zone free blow against cloning video for your media projects a free media dog r t v dot com. the latest news on the week's top stories and there is no halt to the killings in syria as the arab league gathers to debate the future of its observer mission aimed at overseeing a peace plan. iran promises to hold more navy drills in the persian gulf and threatens to block a key oil route in the region as the west tighten sanctions targeting oil and financial sectors. 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 low cross the u.s. .