are still in you members waiting for euro take it latvia planning to join the monetary union in two years time but as artie's alexei or a chef he reports many in the country think membership may only bring more pain for an already struggling economy. as the eurozone continues to combat the painful debt crisis witnessing bloodshed on its streets and the euro sees less support across the continent. this project is doomed to failure it was always too soon to fail some of the more recent members are still keen to make a leap of faith while poland recently rejected the idea of having the euro by twenty fourteen the latvian government still firmly believes that the single currency will make its problems go away the lepi is very. strong intention to adopt the euro in twenty four. through the past being consistent with. any other country. to

that but at the same time still using its time. for your adoption and the problems are massive to say the least lot of a has only just now started to recuperate from the recession which made it one of the most economically affected e.u. countries it still has the highest poverty risk rate in europe alarming unemployment and a vast gap between rich and the poor one of the country's leading euro skeptics as joining the euro zone by twenty fourteen would be nothing short of economic suicide for riga. latvia will then have to participate in the bailout fund and that's a four billion euro contribution their g.d.p. had only fourteen billion i think it's like we've been invaded on the titanic the ship is sinking and we're being asked to be laid all the water. no doubt lot of it will also be looking at the experience of their baltic neighbor in two thousand and

nine is still sterrett emerges to meet euro zone accession criteria in twenty eleven it converted to the euro but now the country's chancellor of justice reports of lower wages and poor social welfare not to mention sixty thousand children living below the poverty line plus continuing emigration. something this father to a big. family fears will also happen in la. i'm a father of four and we're expecting a fifth child and man you call me a madman because of that. most impossible to get a new financial aid from our government for a large family like mine play to your game then will be doomed to completely miss economists say that can meet the criteria what warry is them is whether reagan would be able to afford it especially with the alarming number of those fleeing lot hundreds of thousands have already left the country in the wake of the recession

experts are already speculating on the worst case scenario to join the eurozone violent greek like outcome is not ruled out but a mass exodus is the most likely case let's see. reporting from latvia r.t. if. you're in his coast herbert always ready to expose those who they think are behind the global economic downturn kaiser report coming up later today here's a preview. greek the same major armed robbery carried out ancient olympia museum now my first instinct was wow this is the headline from a.p. that there mainstream media is actually starting to report what is happening to greece and the real terms of what has happened now right well my media thought was my god did britain steal the elgin marbles again. until apparently it's a new band of thieves and they're taking everything but the elgin marbles and of course you find this at the nexus of any wholesale devastation that's occurred in

an economy that's been gutted by thieves and bankers and the city of london or on wall street. turned out of some other stories making headlines across the globe. sali thirty three year reign over yemen will come to an end this week as voters elect a new president but so is current vice president is the only choice on the ballot the single candidate election was a condition of a power transition deal signed by sali last november after ten months of protests and pressure calling for his resignation the vote makes yemen the first arab country where uprising led to a negotiated settlement. thirty people have died in nigeria when the islamic sect boko haram threw explosives and opened fire inside a market in the northeastern city of my degree home to the insurgent group the

attack set off a gun battle with nigeria's joint task force in which eight boko haram members were killed the sect has been behind several deadly bombings throughout nigeria that have killed more than two hundred people since january. sixty state of emergency has been declared in several proview and provinces after heavy rains flooded entire towns thousands of residents were forced to leave their regions after their homes or worse want a military plane has been sent to deliver food aid during the rainy season that typically starts in january has result in the spread of dengue fever that has killed more than a dozen people since october. headlines in a few minutes but first maria joins us with the business news stay with us. helen all comes to business here on i.t.v. russian companies across a number of sectors are becoming second are victims of the sanctions against iran

the united states us heights of restrictions on the iranian banking system and now also railways warns its infrastructure projects in the country are under threats a situation the boss of the company says is simply unfair here we think should be clear and transparent and if this sunk sions of the united nations. do not include sanctions against the normal economical corporation in some but you call a fool's or why all the one country. has the right to consume that the sanctions should be imposed on different banks of different countries just because they are keeping. your credit the credit history incorporating with but you cure particular organizations in the country in order to construct railways. the main competitor to russian gas pipeline projects

in europe than the bucco routes could be downsized the wall street journal science sources close to the consortium behind the project saying the group is considering cutting capacity and length now in the buka has long been europe's preferred alternative to the rush around as it seeks a diversified supply is the pipeline is expected to deliver gas from central asia but exports have questioned the region's ability to provide enough gas to make it worthwhile. investors are pricing in the recent reports saying the european finance ministers have agreed on a new bailout deal for groups their one hundred thirty billion euro rescue package should help cut the country's debt to about one hundred twenty one percent of the gross domestic product in about eight years but experts say it's not enough to revive the nation's troubled economy. let's take a look at the numbers now we'll start with oil first crude this still trading near

the highest level in eight months and that's up there on hold to the world sales to british and french companies this hour the w.t.r. you straight in just under one hundred five dollars per barrel while the brand blends is just over one hundred twenty dollars per barrel. those markets in the u.s. they are closed for president's day meanwhile in europe it's a sea of rather matter as the french finance minister says all the elements are now in place for greece to get its next bailout along meant both the boats and the banks are losing around point two percent. here in russia after a pause the run the monday the markets have made a u. turn into negative territory and they have stayed there since the morning both the r.t.s. and the my sites are losing over a half a percent this hour let's take a look at some individual share moves on the my site and if you majors are the better than the markets and not some stronger pruitt prices can see gas from a shot in over half of her science ball. dropping point nine percent and banking

stocks are among the top losers would be to be bagged dropping more than one percent the sour. times take a look at the currencies the euro is rising slightly to the dollar and that some reports about the new bailout for greece of course stronger or oil is pushing the ruble higher against the u.s. currency popped it's lower against the european one. but as the bushes move to create alpine ski resorts in the caucasus region is gathering speed and billions of dollars worth of messman are still required but in the pitch to international investors the company behind the project says it will pay off more quickly than comparable resorts in europe. we think that breakeven period should be five to ten years maximum and even with this period the rate of return will be time to fifteen percent that's a very good rate of return compared to europe we're building as you suggest a special economic zone in sochi kind of benefits with

a spring. house for tax benefits this will mean zero income tax for ten years after a company is established will also zero real estate tax were also discussing with the finance ministry the possibility to offer subsidies a two thirds of refinance rate for those who build facilities but as we to. get on the project to develop new results in the caucuses is estimated it up to eighteen billion dollars with the state providing to begin with because how much progress have you made raising the rest. read our business plans were big foreign companies and hope to start construction next year there is a big domestic market of ten to fifteen million russians who could become clients of these resorts and for. the south for more stories you can always had a website. business but in the meantime say so far the headlines by far.

the key to the looking glass at what will be the holders of the g. where the walls might just be smarter than the residence every day trash or takes you from the elements outside and the whole system works to see. the shine the spotlight on the leaders and building projects all around russia technology i'm doing here on. the

central. one thirty pm in moscow these here are to headlines un nuclear inspectors visited iran for the second time in the less than a month with tehran hoping to prove its nuclear program has no military purpose. a fresh attempt to negotiate a syrian cease fire this time by the red cross as people have high hopes an imminent referendum on a new constitution will help end the violence. the eurozone strikes a long awaited deal on a second greek bailout after austerity measures the e.u.

demanded of athens to secure the package sparked riots and the debt stricken country coming up a journey didn't even know where we take a look at a museum of classic cars enjoying a traditional russian community celebrating the coming of spring stay with us. for almost eight hundred years news has stood along the banks of the volga river and it's one of european russia's most picturesque cities is the fourth largest in the country an important economic and cultural center and home to one point three million people. steadily one of the better waterfront views of nice name you can see where the river meets the volga and also take a good look at the city's famous market and some of its churches. streets are filled with echoes of its past from the statues that line the promenade

to the city's beautiful range of architecture but it's also home to a modern business community and one of the biggest markets here is transport. so this is a. minibus everywhere in russia cheap reliable and if you're very lucky really comfy. and seventy percent of them are made. and they're made by gas one of the city's most famous brands they've been producing automobiles since the one nine hundred thirty s. and all the classics are on display in the company music. so you can see that used to produce some pretty snazzy family vehicles including the famous boulder which every soviet citizen wanted to own but it's commercial vehicles that have always been the company's.

thirty two this very first thing that rolled off the production line. the guy has a. they still make trucks today. of course along side the mission because. gas is seen some tough times but production is now on the increase and it's all overseen by swedish c.e.o. bohem dessen who previously worked for general motors for more than twenty years. and see if i can grab among the faithful smith yeah so that. my excuse me strengthens james brown the company thank you very much for having us on have you got a minute to tell us or got up and put off the. i've been looking at the museum

so you can already see there's a long history with sweetness and you know the road on gas how important do you think this factory and company offer the city begins extremely important i mean first next year we're turning eighty years. secondly we go through been anything over old love the seventy five without the whole nation building we have three plants here of frequent lexus is a lot this is three thousand hectares of land. and there's fifteen thousand employees are expecting a busy time ahead that churning out one of the most popular mini buses the gas micro bus on this line and each component is fitted in a matter of seconds they each cost around fourteen thousand dollars and they can produce four hundred every day. then once the puzzles been put together there's just a few final checks to take care of. sort of the last test that they do. make

so in stock cars waterproof see. with my fingers firmly crossed we enter the college. ok as you can see i was prepared for the worst parts i can safely say these are doing a very good job. but dr. point tour of gas was almost over but unfortunately my new minibus wasn't taking me home but at least in a commercial vehicles company you can always hitch a lift in something. once started with a very modern factory but now i want to get a feel from this nice cultural life well you might not think it to look around here but when it is almost over there's a few buds up here on the trees i'll always come to this whole village to have a look at a very traditional. rite of spring new right. to

be learnt on your feet for this celebration. go the wrong season discuss. this because. sadly my tank spills on. much of the break to join and find out a little more about what was going on. so i got some. too old for this previous who don't know so what's going on here then there is a bit of marrow making going on here spring has come the snow is melting away and you call them swift edition but it's a festive occasion. and it's been celebrated for well over a century mothers would bake shaped biscuits and when everyone how to treat it was

time for the procession. everybody sings in books around the village leaving a biscuit on the door of every house. the idea of putting these little birds here is that they're supposed to attract the real you'll then fly down and bring spring with. the nesting locks were regarded as a good omen meant to protect the villages homes from fire and disease and finally when the biscuits are thrown into the air it's believed they become part of spring itself. but if you're taking part in this ritual you might want to keep an eye on your new friends.

are. the way so far no i've got some spring inside. and this snow is also supposed to be good for your health. always go right down my neck. now that spring had officially sprung i was eager to continue my sightseeing and although pointed me in the direction of one of the area's most popular tourist spots this has got to get it literally means little town in russian and it's one of the most picturesque places in this me no growed region originally though it was founded as a front here outpost and it's the place where the most famous russian warrior principal time i was on the ski died. over the centuries gora jets gained an enviable reputation renowned for its painting architecture and woodwork and down by the riverside there's a house where the old arts are still practiced nowadays the artists make souvenirs

and entertain the hundreds of visitors who pass through here every week. well i think. these guys tackle the brushwork today but i'm still going to take on something birch additional and very russian but it's much more up my street. burst back in the day having a couple was a very elaborate affair in all my time in russia i'd never had tea from a sum of our and as gary jets boast the largest exhibition in the country it seemed like a good place to break the habit there are some of us here that date back to the seventeenth century from single person pots to ones that can hold more than fifty liters of water but always talking really was making me thirsty. but i've got to have a drink so. let's go ok. but there was still some serious preparations to take care of. there's

a good. getting the sum of all going takes time once you've added your water you need to put in plenty of kindling lighting up. more on the charcoal gel now we give it some air. you often only way you. can put on the chimney. and now we wait. it was pretty cold outside and i was getting a little impatient yes i mean it's longer. ok let's take this off ok now i'm lost for each. to get on top but apparently the russians had an ingenious method to turn up the heat you just needed to give it a good showing ok that's. over it too i. point to. but i have it doesn't taste of.

going to be very tasty and i've heard of. the wellington. boots did the job admirably and with all some of our steaming we headed into the dining room to be greeted by a fantastic spread. saw through all that effort i think this is a couple that deserves a bit of ceremony and they definitely do afternoon tea here and there are addicts. it was a very civilized way to end my trip together and yet but sadly i haven't come to the news new region for tea and cakes.

the time for relaxation was over ok well it wouldn't be discovering rush the show if i didn't do something bizarre and potentially dangerous outdoors so i've come here to a place called extreme land to see what they've got. in search and several hectares of land around an hour's drive from but they promise it's worth the trip ok well this looks interesting it seems that one of the most popular activities here involves inflatable fruit going very fast ok so i need to cry out i think if i fall off the extreme but on a. this is a put. her. hand attached to another snowmobile but was given a tour of the complex. even gripping on for dear life one save you on the stage.

so this is going to. take two. zero six. zero zero to several more crashes i might be around to rest but here is extreme they make you put up or shut up. those who are still with them. growing. so i thought i was going to break. harmony it's time. to show the little bit who intends. to. have no idea what i'm going to royce. with this royal. it seems that if i wanted my lumps i was going to have to point for my food and he's a watching a celebrity gladiator programmes would eventually come in handy.

maybe launch filled cubes but believe me you still want to get smacked in the wrong place for. the bottle went back and forth but i knew in the end brain even highly tactical assault on the red team would see through. it. there's one important game but i warn you that there can be quite a comedown once the adrenaline wears off. the other thought inflatable thing is going to be so dangerous. in this case of blocking without a good boy. i had suffered

enough for one day when i was ready to head back to the safety of the city it was time to explore more of nizhny novgorod itself i just needed to find someone to give me a hand. wealthy british style. that's not on the time. markets why not come to. find out what's really happening to the global economy with mike's concert for a no holds barred look at the global financial headlines tune in to kaiser report on. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom harpur welcome to the big picture.

for. russia would be so much brighter if you only bought song from finest impressions. whose phones don't totty dot com. i'd already seen plenty of the outskirts of nizhny novgorod but it was time to get out and take a proper look at the region's capital. so it's good to get a bit of local knowledge on these trips saw him off to meet a man who's going to help me get to know who he is you know good a little bit better.

soon son david nice to meet you say beautiful me a little bit of news me i want to shows all false the crime about this you're going to come up. siegfried moved here from germany back in two thousand and six within a few months he was married getting regular work as a translator and he's lived here ever since so what would you say some of your favorite things are about the city it is the russian are should take this over the house and i will show you some of them and you will visit one of these. right in the cradle this huge stone citadel was built from fifteen hundred to fifteen eleven but most of its original buildings were destroyed during the soviet union nowadays it houses news news local government but it's still an imposing place to walk right in the heart of the city. these monuments and architecture.