half past the hour here in the russian capital this is our here are your headlines the u.n. about peace plan for syria is on the rocks just days ahead of a cease fire deadline the syrian rebels refuse the regime's demands for guarantees they'll lay down arms before damascus recalls its own troops. all of egypt's presidential hopefuls of now submitted their applications ahead of the first round of the vote next month several candidates are hoping to fill the shoes of hosni mubarak. more than

a year ago. and most of our secure the return of. cases politically motivated that's after a u.s. judge sentenced the russian businessman to twenty five years behind bars for conspiring to kill americans. the former head of the european central bank. how crisis hit europe can escape the vicious circle of cuts out. well today we're joined by john quality shea now he's the chairman of the group of thirty a panel of a former central bankers finance ministers and academics i think is no stranger to weaving through financial crises having served as a chief of the european central bank from two thousand and three to two thousand and eleven leaving the post in october last year thanks very much i'm especially for joining us today because of the first question we like to know you said at the

federal reserve a conference very recently but you think we're still in a crisis but your successor maya draggy of the e.c.b. said that the worst of the euro crisis is over is the worst really over there i was alluding to the in my order still you go what happens happened in or seven we have now. structural adaptation of the advanced economy you know over the last thirty five years we had two liter major crises the african craziness we had the prince formation of of all the socialist part of the world in the market economy. new i would say very powerful economies and we are not observing anything in new advanced economy since also have only advanced economy themselves have to adapt their funding for sector and we started with the you know the financial turbulence while those and so forth

all saw their all in fiscal policies i really trust that it is a global crises of the advance they could meet and of course the your period had their whole in a difficult year they have to work on their own governance economy governance well terms of the euro crisis is the worst over are we out of the woods at this point i think that we know it is hard work to do because. what you have to come obtain is from all countries the capacity including those who are in great difficulty to demonstrate that they have fiscal policies and economy policies in general competitive policies that are sustainable in the long run in a billion in the ground and the third is true for the you know what they are but it's also true for the other big could have because of the advance countries i think it's really now or demanding

a new move of the investors observers savers the world over who are cool good ways including the advanced economy to demonstrate that they are sustainable in the medium and long run speaking of advanced economies and sustainability the u.s. for example it's debt now stands at fifteen trillion overall u.s. debt is fifty seven trillion and the debt ceiling may or may be raised again it's widely expected it will by the end of the year if not earlier is this going to send another problem around the global economy and is this sustainable first of all i hope very much the new all other advanced economy will send signals that would be the stubborn rising i am very confident that we will not experience again. on the ceiling for the boring so of of the united states of america i think that the experience as demonstrated the it was not good but all that being said i think that all countries. it is again

a new feature of the global economy all countries including you advance they can be have to demonstrate that they have spread the g.'s and they have fiscal policies that are sustainable in the medium run otherwise they will not in spike of food so in a way the you with problems and the me center of a larger problem which is you. characterizing all the advanced economy in my all understanding of the situation this is maybe a basic question but it's being raised right now ever since the crisis seemed to lucian seems so far can europe go ahead united as is seen by leaders without the euro and with greece possibly having its own currency back just to fix its problem i think that for any country the first best is of course by far

to have you on the you're just not aware adjustment is needed in an orderly fashion and the solution which has been followed by the european greece is by far of course the world's best the they could have a perfectly trust that do you think this is the end of greece wanting bailouts i mean do you first see even more biotic not just continue as cycle again we will see what happens but it's clear that the commitment which has been taken by the greek government. sensitivities as you know because there is a very there has been national union to were agreed on that and the help of the international community as a whole and the help of the european all this seems to be the right and appropriate way to proceed now of course. in that particular country as well as in the year we're here as well as in europe as a whole as well as in all advanced economy and i did by your own understanding of

the principle mission of our planet also in all it's going to be is of the planet and democracies of the planet we have can do the job. this is no time for complacency nobody should be complacent but it's true for all of those without any exception. ok let's look at a stair to measures portugal italy greece and spain some say they spend too much others say a stare it is going to kill them. well that's right where is the balance here how do they move forward it's an issue for all advanced economy correct but they are project only particularly as regards in their fiscal policies and when you have had ten and see spain more than you. all the. time whatever you do whatever continent you are in whatever category of country you are i have to correct it you cannot continue internally to spend more than you were on this is

true for a country as well as for individuals if a male for firms so again a cost that there is no healing contradiction between what is called austerity which i would call back to sound policies but because where this call austerity very often is only that instead of spending much more than you were on and you spend only no although you were a look at this spending her so how could you call that austerity if you are back to some old body sees then you're in poor confidence and by improving confidence you give a chance to growth and job creation i think it is it is the reality and of course it depends on the situation if a country has not lost any confidence as always behave properly there is no problem for that country of course but for as policymakers as economists as the financial

markets and answers as they pull together thinking about confidence and balancing steady and growth what if you walk down the street and someone comes up to you and says mr cliché i haven't had a job for ten years what is what does all this policymaking mean to me as you know all those countries that we are run in a very prudent way and that we are not spending more that more than what they. we are earning we are not distributing revenue is abundantly and so forth and also trees have jobs the their unemployment is diminishing and diminishing and diminishing even in the time of a terrible crime not to do with those that don't like spain i mean when you did not behave properly i'm not speaking of any particular country but forget i'm not speaking only of your i'm speaking of your own plywood and then at a certain milage you have to correct and it is true that it's always difficult it's

much more advisable to road wise policies permanently then nobody is complaining but if you give a lot of money to anybody and then you tell them i give you too much money you have to take it back then you insure against anybody. to give and to get back is something which is. a human nature is concerned explore all the difficult then there's a lot of problems and it is more as what we have had the reason why we have to prevent bad policies and non-lethal policies permanently in order to avoid to be put in this very difficult situation where about brics now do you think they can deliver what is needed for the global economy to move out of the phase it is in now well the brits are precisely those. who are going brilliantly

over the past year ows are creating a new set of extraordinary boiling economies and i think that the for some of them of course they had also problems in the past i'm speaking of russia speaking of brazil. there had been a long period where india and china as i said we are not growing at all or practically not and so no the. have to be the best are of their would very rapid development so it's a very nice you know you teach you to cope with her you are going very very fast how do you manage that and they are now part of the global community a decisive part of the global economy they are part of the global governance a member of the g twenty there is no such thing as a small group of advanced economy running the global economy. now the brits are

playing a blame decisive role in this handling of the global economy but i would say they have their own problem again a really a poster that we all have to be very careful with the question about you no longer have the same rights during times of crisis to show solidarity with the people now other a lot are paying attention to the high compensation for bankers a time of crisis do you think that should all be slashed. that. this is. you know in all of democracies the use never love or i mean the aeration not only in the banking sector. but in general they could see that in the us i could see that in the u.k. we can see that. in your course and everywhere in the world so we have to reflect on that because there are value was in no democracies which are not easy.

they may go by by some. sectors but i think that this has to be transmitted progressively of course we are in market economies of course market the good news that can function but it is very very important that all component of the society overstand that our democracy is their values and these values have to be respected so should the it why should it not be slashers should compensations be reviewed i think one should go off were better understanding by the interested persons themselves and the interest in the sector and again i don't want to mention exclusively the four sector that they are behaviors that are shopping in the perspective of europe of fellow citizens of the democracy as a whole and this is again where these fundamental alright thank you very much it

was a thank you. field . disease. is causing real life in prison on charges. the british science. market. can find out what's really happening to the global economy. look at the global financial headlines you need to cause

a report. the headlines on. the u.n. peace plan for syria. just days ahead of a ceasefire deadline the syrian rebels the regime's demands for guarantees they'll lay down their. troops. all of egypt's presidential hopefuls submitted their applications ahead of the first round of the vote next month several candidates are hoping to fill the shoes of hosni mubarak who was ousted more than a year. to secure the return of. saying his case is politically motivated that's after a u.s.

judge sentenced. to twenty five years behind bars for conspiring to kill. those are the headlines on the headlines from the world of sports with. thank you we're in welcome to the world of sport here is what we've got coming up. title chasing saints move eleven points clear at the top of the russian premier league as they crazy in on a second successive championship. a fair way to go into hands and produces a brilliant round to take the lead at the masters but three time winner phil mickelson six just one stroke further back into the final day. and blades of glory we count the conference finals in the cage all playoffs as ave

guard and now moscow prepare to contest the darwin cup final. but first football where it looks as if they were rushing the premier league title will remain in some petersburg for another year holders and they now have an eleven point advantage at the summits following victoria look in on t.v. on saturday it was the host should have opened the scoring in moscow right after the half hour mark thomas jones handball in the area allowing new boy roman pavlyuchenko to step up but the former tottenham striker couldn't find a way past crisis level modify have isn't taking full advantage of that missed opportunity in the second half roman should have called netting seventy five minutes in spite the best efforts of tara spurlock on the line so one nil the final score is the champions close in on the title number three. well second place taskbar slipped up in their quest to keep the pressure on the wing this is the army man failing to break the deadlock at home to do so getting angie the first part also ask these crazy run typical of the way they were breaking

for will always with no end result and gee that was spearheaded by your teacher called on sunday a letter i began to carson chances of their own in the second to nil nail was the final score would set. that with a lot to do with there to prevent any winning the title. meanwhile denominate being shared the points following a one one draw the muster side just missing the chance to move second temporarily at least the first down miss him a bit opening for the hosts in the ten minutes with a delightful chip power that nelson valdez would then level not as of the sixty seven minutes with this header in our space thirty six. and in the relegation play offs on saturday i'm calm honest i've come a lot so despite the hearty cynical sending off just before the hour mark despite not numerical disadvantage the hosts would take the lead thanks to an own goal from alexander got scan on

a sixty nine minutes one of the final school in both sides stay safe from the drop for now. well there are two more games of game with thirty eight taking place on sunday in the relegation play offs actually present a carney entertaining told no one's goal is out of the fifteen minutes well in the championship play off spot that moscow take on can kick off in that one is in around two hours time. and pain in the meantime in the english premier league currently does manchester united the company taking on queens park rangers one nil for the hosts at old trafford after twenty minutes wayne rooney converting a penalty kick in the fifteen minutes of second place manchester city also in action later on sunday as they travel to our snark. to go for an hour where phil mickelson finds himself one shot behind leader peter hunt's and with just one round to go at the masters left the as he's known has claimed the green jacket on three previous occasions where the forty one year old didn't caught

a single birdie on the front nine but found his rhythm after that this in go on the thirteenth proceeded on the twelfth rose swing dance and meanwhile did one better playing in only his second ever masters the thirty four year old also shining primarily on the back nine these last five holes securing him the lead are now i wonder why luis stays in since thirdly two thousand and ten british open winner overcoming a pair of bogeys to carve a three hundred sixty nine for the day but all eyes are on three time champion. this is a really fun day and. it gave me it gives me an opportunity to make something special happen tomorrow. is great in its final round as this was it just makes it possible to have something really special to my stuff to go out tomorrow and start to play some great golf on a tough go off course with some top tough emplacements but having that opportunity to be in the final group here at the masters on sunday it's

a great feeling professional golf. basketball now i'm dollar no sense of what howard has been in the n.b.a. spotlight for all the wrong reasons lately but the swirling rumors that the big man asked for team coach stan van gundy to be fired took a back seat to the magic super performance in a win over the sixes on saturday how it denied those recent allegations and no doubt was hoping he and his teammates could do their talking only courts in philadelphia glen davis the perfect sidekick to howard not in twenty three points and twelve rebounds big baby as he was known catching feelings later forty five forty in the third with this a pass get on the foul. howard meanwhile the wreckage of his night game with at least twenty points and as many rebounds including his personal best from three years ago the magic eventually snapping a five game losing streak with an eighty eight eighty two victory. to tell us where lucy is a part of our world path laid out with serena williams in the final of the family circle cup both players dominance in the semifinal encounters with two thousand and

eight champion williams brushing aside samantha stosur williams lost to the australian in last year's us open final but this encounter was a different story the younger of the really insistence starting off in blistering form six six one go on to avenge her sister venus he was ousted pryce throws in the quarterfinals by wrapping up the second set by the same school line williams calling it one of her best ever performances afterwards taking care of business less than an hour. upcoming opponents of part of a was even more dominant against cologne house called the czech star not giving the slovenian an inch taken the set to love so far fighting off all three of her squads gain points successfully resulting in a rare double table victory six love six love the upcoming fight over a ship of a tougher test williams is great and so far about all four times they've previously played. their fiery that brings us to the cage i swear to now moscow proved to be

the best in the west whatever god were crowned champions of the east they now meet in the guarin cup finals which begin on friday let's remind you of exactly how they both got their. live live

. live.

live. live. live live our life. well the finals are short and be just as dramatic i have no doubt i forget i get underway on friday as always wolf and i'll be back in a little under two hours time so you don't.

all.