we wanted to present. something else. eight thirty am in moscow the headline gathering to strike tens of thousands in spain unite to protest against labor reforms a day before the new prime minister announces a fresh round of austerity cuts and it's seen as the first real test for spain is new prime minister who took office just three months ago. arab league split over out a deal with the syrian crisis as some members advocate diplomacy and others want to arm the rebels and weigh in with force. plus the five member bloc of greats

countries take on the dollar and euro in a bid to reform the global economy by creating an alternative to the i.m.f. . and up next thirty sophie shevardnadze speaks with the chairman of the world's largest commodities trading company simon murray shares his views on where china the euro and the dollar are all headed stay with us. someone more a chairman of the multinational corporation glencore also the former french foreign missionary it's great to have you with us here in moscow thank you so you spent most of your business career in china are you one of those who see the china as the center of the world's economic future no i don't think i do but i think at the moment china on

a comparison basis is certainly doing better than everywhere else so but whether that's going to lead the world forever i don't think so i don't think that we honestly going into or a chinese centric not so why this phobia that china folding our china is coming so small it's all because on a comparison basis compared to china for example when i first went there were nine hundred seventy when they had absolutely nothing of course it's very different china is a manufacturing country today and benefiting from manufacturing and if you look back in history in one thousand nine hundred ninety eight hundred ten of the probably the brits the english were the most prosperous nation in the world certainly per capita all on the back of manufacturing so the industrial revolution on the back of coal one hundred england was two percent of the world's population producing forty percent of the world's trade think about that america also groups

hugely on the back of manufacturing so manufacturing is what really leads to prosperity and the western world has swung away from manufacturing into service industries and that is as also they have huge dollars of inflation. over the years i'm talking about europe and america chinese china is going through its industrial revolution equivalent doing fantastically well but also feeling the beginnings of inflation the growing cost base some place and over the next twenty years we may well see the chinese manufacturing moves offshore to places like cambodia or vietnam and maybe. that's a psych is it that simple is that there's just a formula cheap labor hard work is it it's all about cheap labor are you something more the hard work that you put in that people did they talk about asian values of

hard work those are exactly the same they're victorian values the same in the u.k. everybody used to work much harder in a way than they do today people of sixteen years old will create work and less fifteen years old working in the coal mines today everything is much softer and i think it's human rights and entitlement on the benefits and so on china doesn't have those which makes you wonder is that a good thing or not actually i don't actually think that's a good thing and i think it is in monetary terms it is amazingly successful so china is growing at eight percent per annum whatever the figure is seventy eight percent brown and the rest of the world isn't really doing a good tool by comparison so yes they have huge monetary success on the surface but underneath they have lots and lots of problems believe me theory china is getting older faster than is going to change. i don't know that i have good that

phrase there but getting older rather than the rich or their problem is also that when you talk about rich you have also the big divide the haves and the have nots china are reported to have three hundred fifty thousand million has reported to have a hundred fifteen billion has the throat of the precise. but they have seven hundred million people who live in the rural areas central parts of china who live on four dollars a day so they're all getting richer. they are much better off than they were forty years ago there is no question about that that that the wealth has spread over everybody is ok in the sense that they are better off than they were but still big difference is still a long way to go twenty million people publicly a year move from the rural areas of china into the urban areas looking for jobs

every year let me china's got to find two hundred million jobs over the next ten years that's pretty big task china's coal space is rising the china is now starting things like minimum wage you have just content in china and many villages there are riots and people are on strike but we don't see the out if those towns all grown up in the same day. rebelled china would have big problems so for china the most important thing for the party is stability keeping this place stable and it's very tough and they could do it because the communist party is very very tough do you think europe is up to the challenge should hear opinions be working harder. yeah i think yes i would like to see less of these sort of benefits and. we live in the european in the west where. an age

of entitlement people come out of university with my job i mean title to join i mean title this i'm entitled to benefits i've just arrived in england where all my benefits i think we have gone a little bit soft yes but is there a way of turning this whole thing back. probably not what i think of the politicians in england are trying to bring in the goal of parity measures you see what's happening in greece whether whether people will take this accept this or whether they will rebel you're seeing in greece a rebel you have seen in england in november we had students rioting in the streets smashing windows robbing shops and so on so will we have rebellions and then i think we probably will. there's going to be resistance to this is to us and it will it will the euro zone survive as one whole empathy i think there's a good chance that some of the southern countries greece

maybe actually maybe maybe spain portugal may withdraw from the euro. the euro benefits the german nation more than anybody else because if we didn't have the euro we would have a george mark and we would have the lira italian lira george moore it would be here the lira would be here so it would be one say disbands for three four hour is what do you think you take probably for so if the euro goes germany will have unemployment at twenty percent so they need to keep the euro going you have to remember that the european community as a collective is solvent. it is solvent but the money is all in germany not in the other places so whether they can keep it as a whole is going to be tough and it's particularly tough for the germans because the germans understand that they need the euro otherwise they're going to get

unemployment of the man in the street in germany sees his taxpayers' money going to these guys in greece who he thinks are very spoiled they don't pay tax they'll get up in the morning or whatever they do actually they were pretty hot in greece but they don't pay their taxes so he resents that and that is politically very tough for the german politicians to sell that they have done it at the moment greece has been allowed to the tune of three billion dollars it three hundred billion dollars it's interesting those numbers you have to remember the biggest default ever in history first was russia which was seventy nine billion dollars after that was argentina shortly after that eighty two billion dollars you put that eighty two billion dollars as a country the biggest default we have ever seen today the greek debt is five

times bigger than that and five hundred billion right next door italy's that five times bigger than greece can point five trillion dollars ok you put that sort of thing in the context of the eighty two billion you realize what we've got in europe we have never seen anything like it is huge so whether europe is how europe is going to pay back this debt the only way they can do it is to grow and they are growing one percent not even so it's going to take them a long long time in the meantime do they go into deflation. well they go into inflation the americans are terrified of deflation because they remember nine hundred twenty s. soup kitchens people lining up in the street to get their soup at lunchtime great so broth and so on steinbeck quotes from some germans terrified of inflation

because the weimer republic i just twenty nine fifty million don't work for a loaf of bread so when you understand what inflation really is this is inflation ok this is a one hundred twelve the billion that's a trillion dollar note or one hundred trillion dollars and that is inflation that is a zimbabwean dollar and that buys you probably the bob way i don't know if you're coca-cola or something that is inflation so the germ of the third part of that when i was a boy we all had a million more notes which were worth nothing and so you got a completely different attitude from europe and america in the western world and how this should all be approached ok but the question is alongside of when hero americans are also have your aimed at it how do they do to maintain their high living standards i don't know that they do maintain their high living standards but they wanted of course they do everybody wants to america are in debt to the cuban

american government is that that the fifteen trillion dollars that the american government that's not the whole of america whole of america debt is probably forty trillion dollars but they have huge problems and housing passing prices probably prices people being ejected out of their houses they even have in america they have tent villages where people living in tents you haven't seen that but they have an america and it's getting to come back a bit but they have unemployment of say eight point four percent. down from nine point four percent down to eight point three percent so they are very pleased that unemployment has gone about down but if you look at those numbers a little bit more carefully you will see that between the ages of about twenty two and thirty five or thirty seven that figure eight point three between those ages young people twenty two and thirty seven it's near

a twenty percent unemployment. huge problems that will reduce. ability to spend consumer spending moving again so i don't think they are continuing to live and spend as they used to and two thousand and eight when we have the fuzz back on the back of massive massive credit boom people fear that we would have a double dip and here we are right on the edge of it. but

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think it was going to. say. street still cheap soup secrets of the times revealed in the soviet files i'm. gathering the strike tens of thousands in spain uniting protest against labor of forms a day before the new prime minister announces a fresh round of austerity cuts it's a scene is the first real test for spain's leader who took office just three months ago. the arab league split over how to deal with the syrian crisis as some members advocate diplomacy and others want to arm the rebels and weigh in with reports syria's government and opposition under pressure to enforce a u.n. peace plan calling for a cease fire. and the five member bloc of brics countries take on the dollar and euro in a bid to reform the global economy there masterminding the creation of an alternative global reserve bank that could rival the i.m.f. and other u.s.

dependent bodies. balls up next with all the latest sports news stay with us here on our team. thank you my well come along to the world is for here is what we've got for you down sing by bilbao the deficit in may you are a league basketball court of pinewood says card after a victory in game three in spain. i schooled in on my moscow come from three goals down to be scarred by zero in overtime in game one of the western conference finals. pedal to the floor with a new formula one season two races old out a chance exclusively to russia's only driver it's only petrova about his start of the new campaign and his hopes for the future. but first says can moscow have lost

for only the second time in this season's euro league they went down a ninety four eighty one against bilbao as the spaniards half the deficit in their best of five playoff series the army men now lead the quarter final twenty one heading into game four on friday well it ruled on a bike and passes the ten thousand fans in past side you'd think would mean elimination from the competition but sales car would have to wait to book their place in the last four times i had a carious cruelty seven feel to me that part time helped by the outstanding market carnage scored eighteen points cost us about the latest was top score for the home side with twenty while aaron jackson added thirteen although not kristie at school twenty three points for the travelling russians it wasn't enough as bilbao held on for a ninety two eighty one victory all to play for our game four on friday. meanwhile in football's a premier european tournament the competition is also at the quarter final stage german club munich have one foot in the last fall where the tie between ac milan

and barcelona is perfectly poised after the first leg was a loner failed to find a way to. the san siro as they were held neil nailed by the italians was the first time in nine matches in the competition that the defending champions had failed to score meaning there's plenty to play for in the second leg of the new camp next tuesday. because of i'm very happy the boys played very well we were pressing high and defending very well the result gives us the awareness that although we're going to barcelona for a difficult match we can go through with a win or scoring a draw i was imagining one sagesse one goal will not be enough we had to take better especially in the box will play on a better approach than this and it would be a little dance for us playing well is the only way to win and go through. elsewhere munich have a healthy advantage after that to know when over mass same frons gomes and i and robin were on target for the visitors winners of this tie looks at the play real madrid in the last four. this week i have not much chance to reach the semifinals

but i have respect for our opponents i've been through a lot in football and i know it's a quarter final first legace played good at the second leg is so to come and anything can happen. now despite previously saying his six months alone back to form a side sending some pages is a temporary move russia captain andre are shopping could still leave arsenal this summer reports in england suggest gunners manager arsene vendor is planning to sell the club's biggest let's raise funds for new big name acquisitions so i was shopping who earns around a hundred twenty thousand dollars a week could go on the market and thirty year old has one year left on his arsenal deal. now moving on to ice hockey when the k h l playoffs deny my moscow one game one of their best of seven series against scar in some pages but our lives now the ups man climbing a dramatic five four victory in overtime thanks to

a double from victor to hold off on a goal from vladimir saying it was three nil to the hosts by the beginning of the third period where malik killed one back thanks to a goal is a mistake then leo cut off make the most of a power play five minutes into the period three two now soon after that made it for to restore the scars to goal advantage as he was the first to the rebound muscle i off gayton our hope is he reduced the difference to just one goal lead way through the period and with less than two minutes to go muscle i lost scored again taking the game into overtime dramatic stuff in the ten minutes of the first additional period has a lot of completed his hat trick giving his side an all important and at times unlikely away victory. also in st petersburg on friday but. in the meantime regular season when the truck to play ave guard in the eastern

conference finals game one takes place in chile a big slate's on thursday. now in tennis britain's army murray has got his place in the miami masters semifinals after a three set four six six three six four win over serbia as young go to salvage the first set one hundred pitches favor six fall then murray found his game in the second to take it six straight the brit also closed out the decider six four to win the match and murray will now face either strong world number two rafael nadal in the last four. in the meantime poland's agnus there were vance has got her place in the last ball of the women's draw that's not to beating venus williams in straight sets to the pole to the six four. her opponent no chance in the second losing only one game there and part of the france is up next for advancing. well but you know i was just going on her pretty much thinking it was i have nothing to lose with

a great champion of course she she had fun playing off the last couple of months but you know she's a great player so i think i was just playing very well then there's a very happy about that now in formula one it hasn't been the best few months for russia's only driver in the sport that ali petrova lost his place with renault before signing for the new cager and same with the new season is just two races old and petrol is optimistic about the future as he explained in an exclusive chat with our correspondent richard dunne perfect. i think it was not it was the other fortunately the first place we didn't make things but anyway i think we're sure good results and. in malaysia finally finished and actually it was a good race in the simulators it started from where the nose did some guys so it was actually really exciting was a way to picture one because it will save a lot of football whining and you can see a lot of cars one told. yeah actually i did matson i think on this team and in this

car so now it's the first before we can achieve something we're going to move team a few months seven hundred has been turned down. to come to trial actually it was very easy you know everything would be fair on this team with was almost the same like i haven't then of course to deal with smaller teams but the thing about this set up wise and. the walking around was actually the same way. that in arranging for the focal for the same i think it was actually really easy for. me but it was the mother's old summing up see right now we've kind of got a team i mean it's going to have more spending power. to kind of ignore you know where you can still compete try right trying to find futures you know of course when i left. and i understand it's another team that's new to me just so dear and the championship and. i will need to go for it with another group of people but i

think you know on your mind it's really important to understand this before when you go into that and foremost and you will need to find one another different people but what is good for you once. they come out so from this got into putting this on the top or at least somewhere you know to win someplace is enough for hope in future we can do this i mean psychologically you see the suspect. when you get it you'll need to of course those who of course you can afford with the force and order but to you state it you will. you will drive the same car you will feel the same type of flares you will bother your driving for the the i actually i don't see the good stuff slipping by the portal for those foreign students i think it's even more in the summer to me because new came in it's new. it's too late to change

little bit me because i haven't stole the wizard but anyway you'll only gain something when this is will give us a more plausible mother remembered in common courtesy. and something some of. you will progress if you please does he remember the use of these things you know real time and you want to leave her there of course to you you know if it could be you can only hope it. because you know when that is the soul of course you know you always want to lean in in the moment they think what they did or did it and what we did together with a team with a mission system plays and move the moisture in the we managed to finish that is in the we don't live in in front of the voters i think this is in the moment marksman with the moon the different in pleased with the no concerns months well that's always full for now we'll have plenty more here on our say in a little under two hours time see that.

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there hasn't been anything yet on t.v. . it is to get the maximum political impact. before source material is one hopes he still isn't quite real. we wanted to visit. something else.