democratic reform ridiculed by the u.s. . president. may have been a. businessman and a suspected terrorist. demonstrators

in france spain greece and the czech republic. next we talked to a spanish economist on what's ahead for the euro zone's fourth largest economy. spain has a new conservative government that further of thirty measures the spokesman need protests and with the country now suffering crippling the high unemployment especially amongst the youth many people are all thinking whether the country often described as t.v. to fail already have we're joined now by economist manuel thank you very much for joining us can you tell us how much of what the country is experiencing right now is due to being a member of the year is that the situation that spain is experiencing it's clearly a consequence of spain joining the euro you see that we joined the euro.

we were. subject to the european central bank the european central bank has settled interest rates are courting to the needs of the core europe which is or germany austria the france the netherlands. right the right to do that and those interest rates were very low for spain they were adequate for most countries part of very low for spain so what happened these that we received an enormous amount of credit which priest spanish debt this particular. piece of foreign called the forty forty. so what happened is that these cheap money has created bubbles like the real estate bubble and when the crisis started the real estate bubble. fell down and of course companies started going

back dropped public administration started not receiving income they were accustomed to and the whole the whole economy blew up only thing many government come in but the protests have continued what do you think spain's future now holds the government is doing what. you are peace telling them to do cut public spending and make some structural reforms like labor reforms which is ok. but that's not going to solve the problem because the problem is the euro and that's not going to solve the problem and so everybody in spain of the world with these expecting. the great expectations that the new government is going to arrange the problem and i expect that maybe we have six nine months

of good reason. after six of my months. if the economy continues to deteriorate as i expect the economy to deteriorate people are going to be very very made the move deceived when they when they see that that with the reality doesn't match their expectations with these governments do you think spain's future lies now within the year it's certainly not. certainly not now nor spain nor portugal nor greece nor eataly from the the so-called peace i don't know about an island i don't know very much but certainly not spain of course in theory you could have a uterus wrong with the core countries with germany the netherlands. austria maybe but not very sure france. but i am i my feeling is that if the peripheral countries abandon the euro i don't think the

although four or five or six countries will feel very happy remaining alone where you've written about things exit from the area think do you think that is a realistic option is a political problems the that and it's also is. a credit debt problem you see. spain has as we said before about. nine nine hundred billion in foreign debt about half of that is held by germany and france maybe banks and funds and investors so you could see france and germany they don't want spain to default because of course leaving the euro is seen only most of defaulting i mean because if you leave the euro the fording that. you have to you can repeat so

if spain leave the euro spain has to default and that we hurt german and french banks and they don't want that so the the situation is very easy to understand it's like if i am a bank or you or me money you cannot pay well i want you to do whatever you you can to pay me and i don't want it will stop eating you take your children out of school do whatever but take me back you have. dozens of examples of even recent history in the last twenty years it has been thirteen countries when many more maybe of these thirteen that have devalued because they had. problems with competing and overvalued currencies and the the result forced to. what in some cases better than others but it's always successful of course it's not

that devaluing ease the cure of all ease you have to devalue and you have to do all the things all the reforms certainly. just devaluing is not enough but you can do nothing if you don't devalue c. but the people in greece and in spain being part of the year if their remains very much a source of pride doesn't it you're right you're right you see for use in spain when the euro east associated with europe and of course politicians have conveyed this message they say because for because if you leave the euro you will be chased from the you european union which is forced i am upset of course the treaties the they don't they don't. consider the possibility of leaving the euro which is quite mad that it will cause it but i am absolutely certain that if if if if spain leaves the euro nobody's going to chase spain out of the european union but anyway for the

for the people. who are not very much aware of economics and nobody's aware that the crisis already jean is the euro in spain nobody's aware of that maybe some economists are aware but the majority of course the message that. it's been conveyed by the banks by the. media and by politicians is that the problem is the overspending of i mean restrictions which is right i mean the asian overspending that's a problem but the thought the origin of the problem the origin of the problem is the euro and the lack of competitiveness that the you know has brought to spain therefore the recession and of course the recession always please repeat. a deficit in the public administration but the deficit in the public administration is a consequence of the spanish economy not being competitive i think there are fears

that what's happening at the moment in greece is going to be repeated in staying exactly the same i think it's we. they are about two years behind greece him terms of protest but you see the policy which the troika. and the international monetary fund the european central bank and european union are imposing on but if for countries greece italy spain portugal it's economics one o one is very simple to understand that i mean if these countries are. with problems and you force the to cut public spending well you push them deep into recession and even to your you pretended objective which is to reduce public deficit where you don't reach that goal because the. income of the of the public administration is reduced because the whole country got

goes into big recession we have seen that in greece how every year the economy goes worse and we are seeing that in spain and we experiment that in spain more and more thank you very much for joining us. we all make choices. sometimes it's tough. but it can be an easy call. the. choice can be left to fate. boy it can be. limited. we can comb.

shows and. it's always personal. except one day. when choice matters to everyone. wealthy british style. that's not on the title of. markets why not. come to. find out what's really happening to the global economy with my stronger for a no holds barred look at the global financial headlines tune into kinds a report. 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 realize everything you thought you knew you don't know i'm tom hartman welcome to the big picture.

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another sport on our t.v. good to have a company again coming up in their boats on. the road soon ukraine and powell and russia begin their euro time to trial for a chanst with a trip to copenhagen to take on. stepping up under twenty one coach stood his take charge of england's sinnett side for the first time following the resignation of his father capello play the netherlands at wembley. and king of the ring floyd mayweather jr and miguel called. may the fleet about what talk continues about a so-called super fight between pretty boy and many patel. but first russia held their final training session ahead of their match on wednesday may just be

a friendly but they could because men are taking the encounter very seriously with the european championships starting in exactly one hundred days our correspondent richard roth reports from copenhagen. the euros may be just over three months away but that time will pass very quickly for take out the cuts production has just free friendly matches to prepare for those championships and has to pick his squad of twenty free which will go to poland and ukraine russia's head coach may have already decided on the majority of his squad but is taking the game very seriously when there's a series to forgo before we start the dormant we don't have some of the chances to play. good together thing did the group the group is improving and they're playing better and better and you can see them playing the series also in the last couple games of of of the group slow. for a pulse of a world with so few games left before euro two thousand and twelve advocaat has

very little time to tinker with his squad i'm a dutchman admits that wednesday's game will not be the time for experimentation and he will stick with those players who booked russia's passage to finals however russia's boss is pleased with some of the side's key players have returned to russia recently after not have the most successful of career is abroad of under a shove in being the latest to return home i think it's good for us if we weren't good for the national team as well because he needs more practice in the more games . the possible to do tomorrow and also. for the vast majority of us squads the game of denmark will be just a second competitive match of a new season as russia is just coming out of its winter break. well for the likes of roman publishing co who missed training through illness go to shoot a call five ball of is likely just tossing go with the i just love my life even eva i can fave both missing this will be the first competitive encounter of

a new season as beck clubs were also involved in european club competitions however denia dean of the play is a raring to go and it was good to meet up as a squad again after a break of over three months since my last fixture in the us the most this is the final friendly before we begin preparing for the euros and this is also a great tune up for the league season which restarts in a week's time this should be a good game as were playing another euro two thousand and twelve participant at their stadium was among those. and i want to go and denmark unlikely to present russia with a tough test for danes of course also qualifying for european championships is likely to be even encounter and even bo of the carter said he'll play the strongest eleven expect the dutchman to make wholesale changes in the second half as he takes a look at some players who are looking to make his final scored bureaus might seem a long way away at the moment but in reality there's not much time for the government of his side for those finals or game or with their might might only be

a friendly but is going to be a key opportunity especially for some of the fringe players so impressive a dutchman when he took it on the plane to those finals in poland and ukraine. copenhagen. when england's caretaker manager takes charge of the. visit wembley it's england's first game since father capello resigned earlier this month steps out from the and twenty one squad where he has been the manager for more than five years the football association says it's had no contact with any candidates for the job on a full time basis peace says it happened to take on the role for euro two thousand to twelve this summer and has already changed plans put in place by capello for england's preparations ahead of the tournament plus pace has named scott parker as the new england captain. in the meantime here are twenty twelve poland are set to go head to head with portugal the game is due to take place it's

a new the built stadium in the polish capital but they have were not able to. kill one striker sidelined with an injury the visitors in their term will have to play without the best to. her portugal head coach parlor banter expects a tough encounter there despite injury problems to some of the religious only the strength of the polish team is that they are playing on their home sure will sure this is a great lawyer. also they have good technical players first ones i would mention lewandowski. but portugal have sufficiently strong players as well so that we won't have to worry. germany will be hosting france among the rest of wednesday's friendly fixtures goalkeeper hugo lawrie has been named captain for the match more of france head coach of the red bland confirmed that they go away what k.p.

for the euro cup as well as for the upcoming game plan their opponents will be the favorites they're. missing work in france and between france and germany the matches have always been about a lot of prestige and although it is a friendly game expect them to try to beat estimates and i think realistically the german team is more stable and has got more qualities than the french but sometimes in football the unexpected can happen and the weaker teams can win who runs. you know it's time for the playoffs in the kontinental hockey league where the western conference quarter finals are already underway regular season runners are stars are currently taking on in st petersburg have just started the period eight three one to the house there. begin their campaign news need not go to games regular the latest. five three in favor of another most. have started their best of seven series against the nominees from the in the russian capital no

girls have been called a yet while. our plans are up against sevastopol it's also. midway through this second period. it may not be the contest that the world of boxing is desperate to see anticipation is growing as floyd mayweather jr prepares to put his record on the line against. in may the pair will trade blows at the end jam grand in las vegas on the fifth of may with. a super what's on the line but at a press conference to promote the fight was on a possible bout between mayweather and manny pacquiao negotiations continue to start with insisting the filipino is refusing to accept drugs. as you simply want i think to split the purse it seems that negotiations have a long way to go. before. we want to fight floyd

mayweather that will be right here today face of lumia would. shut off. if you do. so it's obvious he did it so we move on to the next meanwhile british boxer. has been given an indefinite bent by the world boxing council for his head before and after the fines with. the crown in the way for their back. and then brought with competitor a david tate imposed five press conference and the w.b.c. said it was one of the worst behaviors ever by a little. bit later all undergo a management treatment before they consider lifting the suspension. and finally let's touch upon the story of russia's most successful figure skating deal of recent time to turn up and. cough who european gold medals earlier this year now reports. with twenty ten most kugler crystallise was the

first competition to china more so daryn maxime turn call performed together and any doubts about whether this newly formed couple at a future soon faded away within just fifteen months of our interim call to the first of the european and second at the world championships but neither skater is happy to fall back on those achievements for good they see success of the next winter olympics is their main goal in life first of all than just a goal for us it's a dream and i'm sure there are any affleck teams winning their home countries olympic games means as much as any sporting achievement could but russia wouldn't have had such high medal expectations in the pairs competitions if the two skaters hadn't agreed to partner up in twenty ten before their losses are was before an astonished love morozov for ukraine walcheren call had maria who worked as a partner but they were continually fallen short of expectations and both athletes

knew they had to move elsewhere but it was nice i had an offer from a french skater i could have also moved to canada to compete for them but when i heard that maxine was looking for a new partner i wasted no time agreeing to such an opportunity in order to compete together with us or had to obtain russian citizenship and move from kiev to moscow while john paul also had to leave some petersburg where he had lived for eleven years the pair found a new head coach nina mordor who used to work his junior athletes but they changed it in the fed their lifestyles too much whatever they are the vast majority of their time is still spent in training. i never knew a job that was pre me so much pleasure could become so enjoyable i'm really happy to work hand in hand with tatiana and max in to watch them training on the ice and i'm sure any other coach would feel the same with them. everything losses are in

turn paul do. as a single aim to win competitions and while the crowds at exhibitions various doubles was the last amanda and the reigning european champions to the breasts of spectators once again a. hearty. ok that's all from me in this process for today whether it's next goodbye. culture is that so much going on there is a huge decision like my time to fly to right to protect the rights to penetrate as syria continues down the path of destruction and civil war there are a loud voices on the international stage.