get to the seventeenth of june election we don't know the answer to that since since the election is. in the near future i suspect that they they can and hobble through to the election but things could deteriorate and get even worse and in the meantime i see the the greek situation as a tragedy because so much of what has happened could have been prevented if europe were truly an integrated unity if the same steps had been taken on the fiscal side that is the public spending and tax side as were taken ten years ago on the monetary side so that there were there were it would be true. fiscal integration true centralization of fiscal policy.

the. public debt problems that we see in greece but we also see spain italy number of other countries would have automatically have been solved by by virtue of having a centralized europe according to media reports three billion in cash was withdrawn from greek banks. since last election in may and that's nearly two percent of all cash greek band tax banks hold how sustainable is that well clearly such transfers that can't can't go on indefinitely without there being. a banking collapse but that's that's again. a failure of. of europe look at what happened in the united states a few years ago during the financial crisis the federal government stepped their.

and bailed the banks out and partially nationalize them. europe could have taken similar steps and greece and and did not do so spanish banks bankia has requested that because spain allowed in spanish banking history and have the spanish banks all soak up the already sure spain has had. some real problems too. and. while they have whether or not nearly. as serious trouble as as greece. it's bad and the austerity program there has has only made things worse but just how much financial power. to national and the e.u. authorities have to support spain in countries that are in similar situation like

italy for example if they wanted to. exercises more power at the level of the of the union they could do it there are lots of things that could be done to ease the fiscal problem and spain and portugal one good idea which has been proposed which i hope will be adopted at some point as the idea of euro bonds to translates private debts and. or of national debts and so. european debts some fund managers are openly right now dumping the here assets and it's no surprise that it's running really logans dollar. but is dollar a safe bet at this point i mean america itself has a huge tax and government debt six hits its g.d.p. the dollar has always been a safe haven at times of economic uncertainty and i think it will continue to be

a safe haven for for many years to come yes there is a. debt problem in the u.s. in the sense that it's the debt to g.d.p. ratio is higher than it normally is and that it's. if you extrapolate going for the current situation going forward. it looks as though the jet g.d.p. . debt to g.d.p. ratio will actually. continue to increase but in fact. the seriousness of this problem has been exaggerated so you don't look at it as a crisis i look at it as as a problem but as a fixable problem and not a problem that has to be solved immediately by any means like i think a much more important problem in the united states is to get the economy back

to normal form of the still running at something like eight percent it's just too high the first priority should be getting the economy back to normal and then to worry about. about solving the long term debt problem we're talking about the ratings agencies i mean how much have they contribute to worsening the crisis because from what i understand and i may be wrong these are independent entities they have owners they trade stock markets why are they allowed to have so much power over the global economy i don't know that they do have so much power anymore i think that they did play a role several years ago this whole sequence of events started in the united states with what was called the subprime mortgage crisis and the rating agencies played a role making the subprime mortgage problem worse by overstating

the the safety of investing in subprime mortgages by now. i think we've learned to take what these rating agency is say with with less seriousness that was true. which isn't to say that they have no effect but i but i don't think that they have nearly the. power that they had a few years ago but you think they have contributed to worsening the crisis a little sure a little bit for example last summer. you'll remember that there was a somewhat artificial debt ceiling crisis in the u.s. and this led to a downgrading of u.s.

debts. for poway to double why. that didn't do the crisis any favor that there were there with there were some temporary turbulence as a result of that i don't think in the long run. it did. serious damage but it was a but it was not. it was certainly not a positive step to ask you something if let's say two three men four years ago someone would have sat that you were really facing a crisis of this scale probably people would laugh in your face like no of course not do you think do you think scholars missed something or is it just that the world economy the model of the world economy is running low and it's out of battery and just unable to deliver growth now i actually i don't think this crisis was missed i mean. the financial crisis of way.

was was something of a surprise to many economists but the problem with europe were not at all miss that there were many economists many prominent economists who pointed out at the founding of the monetary union the beginning of the last decade that there was a serious asymmetry between the way monetary policy and fiscal policy were being handled that monetary policy was centralized in the european central bank that fiscal policy was not centralized that in the long run this asymmetry was not sustainable so. it was not a big surprise where when the problems. the problems that this asymmetry generated actually. came to reality a couple of years ago leaving the euro doesn't really come with

a guidebook but you're really good at game theory how does that actually happen how does a country leave a carrot currency. how does that happen they'll have to adopt have to either go back to the drachma or adopt the dollar or adopt some other occurred say these things have happened before or countries have changed currency and it's usually a somewhat bumpy process it's very rarely a smooth transition and it's not expected to be smooth in this case especially with volatile people like in greece right but but it can happen how rough can we get really if that happens it could be very bad for for greece but like civil war revolution well. again you're asking me to make political predictions it could get very much worse economically. i mean.

greece could go on. into a long term depression unemployment could grow to astronomical heights it's already very high but it could it could certainly get higher. the. things are by no means currently as bad as they as they could get more do you think greece will be in one year's time from now this is a question which we don't know the answer to because it it depends so much. on politics i think at this point given what has happened it's more likely than not that greece will leave the union that i don't i can't say that with enormous confidence but. the signs seem to be pointing in that direction like

my skin thank you very much for the continued my pleasure. i had a family i lived in a fairly nice community wasn't which was an upscale it was just like you know archibong to society ok then they started showing up here what happened was my company decided i could get cheap labor and they got rid of us through these are. negroes illegally flood legally we have to get up every morning we have to go to work and you know we have to pay our bills and we have to do it and that's just the american dream and if you want the american dream you have to go by the last i figure is here's one of the major trails into the united states. i watch and they run run down my property and something about this noise the ball is

a little mean that cockroaches from coming over the wire is protecting the country and the kind of guy who doesn't mindedness pants dirty so i come out here you know we're all immigrants as well that we all carry some sought out.

at lunch marty calls for foreign intervention in syria grow in some western and arab countries leading to fears the houla massacre might be used as a pretext for military action. against meddling in the conflict saying would unleash even more bloodshed and. despite expectations syria would also dominate the russian reuse summit in st petersburg it was russia's own affairs that were in the spotlight earlier when commenting once again on the imprisonment of former all tycoon mikhail khodorkovsky but even richer rated that there was no political interference in the case. and thousands of canadian students returned to the streets to protest against the rising cost of education two days after talks with quebec authorities about the issue probe down the plasters also said they fear their countries copying the us system of this landed young americans and. this is r.t.

now world sport. thank you very much kevin welcome to the sports headlines here and i'll tell you this is what's coming up i want to make brushes the sole representative in the french open maria sharapova looks a bit hard place in the last page of the competition against check. out the rough tiger woods three run toward men to his career best stunning win of the morrill. river ron and moscow plays host to the latest stage of the committal world cup which also acts as an important prep tournament for russia's london two thousand and twelve olympic hopeful. but let's start on the clay courts of the french open where russia's only remaining representative maria sharapova is in last sixteen auction in paris the second seeded long cool looking to book a place in the quarterfinals unseeded. of the czech republic i can tell you she was

totally fool to walk in the set later another check attributes about the wimbledon champion plays american bravado. defending champion leno. dystonia is off against around children of the netherlands. in the men's game home favorite joe wilford song is through to the last eight he saw off stanislav in five sets and now faces novak djokovic in the quarters spaniard nicolas almagro chips out of it in straight sets while his compound for enjoyed an equally as comfortable victory over moss i would prefer no this is a relative walk in the park this one for the clay court specialist the spaniard sent his compatriot packing in three sets six three six two six love next up in the last eight years either andy murray gets great. in their last sixteen clash a little later on when martin del potro. has literally just beaten chad thomas but

it in four sets but much was also postponed because of rain last night while world number two were defending champion rafael nadal plays one of monaco argentina. now to football where russia have arrived to their base camp in poland ahead of the opening euro two thousand and twelve much with the czech republic on friday manager dick advocaat who oversaw a three know win against italy in a friendly last week stating before departure the victory means his men enter the tournament in good spirits. well the results are always important. holy saying the. most important thing is that you can see the team make improvements. was important for us to see if we did. but i would give the same answer if we lost the game because it's a little. bit more russia first opponents are also now in poland the czech republic

electing to take a seven hour train ride to their base in france what they call blacks man finished second in qualifying behind defending champion spain and had to be montenegro in a playoff to book their place in the tournament the country has qualified for five european championships since the break up of czechoslovakia with their best performance coming in one thousand nine hundred six when they lost to germany in the finals. now to golf where it's been a weekend to remember for tiger woods the former world number one winning the memorial tournament for the fifth time including jack nicklaus his record of seventy three p.g.a. tour wins in the process tiger also doing it on a course nicklaus in fact designed the american started by raising a four shot deficit making the second of his three straight birdies the six thinks tiger with this birdie on the sixteenth as the thirty secure all get a perfect but from the roth on the par three holes. the bench will see forty seven am downdraft remarry by two shots because of self on hand to congratulate the

winner fourteen time major winner words now in two weeks because his mark of eighty could potentially edged closer in a fortnight's time for the u.s. open title. i mean i had a good today i really did i miss a shot today and that was some good stuff i needed it and you know the birdie you know three last four which which was nice the time i was three or four back at the time and needed a push and. i finished it. you know you guys better get a couple mistakes but it's so easy to do you know sixteen spikes or and i got away with one there and it was a big swing. now cricket legend sachin tendulkar has joined the growing list about plates moving from the world of sports to the world of politics the first cricketer to score one hundred international century sworn in as a member of india's upper house of parliament on monday the thirty nine year old is quite simply a living legend legend in his home country had been widely considered

a political cricketer and surprised many with his nomination from the ruling congress party last month the batsman says he won't leave the crease yet light and wants to make sports related issues his area of expertise but i can tell you thousand and eleven world cup winner has played in one hundred eighty eight tests since debuting on the global scene back in one thousand nine hundred eighty nine. but now there are no clear favorites in the n.b.a. playoffs with both the western and eastern conference finals series all square after four games the boston celtics on sunday talking their best of seven contests with miami following an overtime victory rajon rondo knocking fifteen point down fifteen a sixth as he scored what proved to be the crucial final three points of the extra session bron james meanwhile scored twenty nine fouled out of the critical stage in overtime miami can now enjoy home court advantage with game five taking place on tuesday in south beach. i don't want to be too aggressive because

a lot of area for office affairs but. you know how to get mighty mazen is not a one man show it's not a two man show we have. put the band home and we look for each other so. i don't feel like i have to force anything just try to run the car. which will you know kevin re-impose you know they deliver. meanwhile in the west game five between the spies on the thunder takes place on monday that series is also perfectly poised to take off to fool day with both sides having won the how much is in the best of seven. series oklahoma won going for one hundred nine one hundred three to level the series which now means to san antonio. now let's finish on the water on moscow this weekend played host to the final stage of the canoe sprint world cup there was even more stake than global bragging rights as a goatee and six planes. activate corrales kero in canoe and

canal is no stranger to hosting major events and was one of the olympic venues in the nineteen eighty summer games in moscow it was here that athletes from the soviet union and german democratic republic reigned supreme clinching for gold sippy. thirty two years on has undergone a major innovation and was used to host the third and final stage of the c.s. canoe sprint world cup it's been seen as a dress rehearsal for the world championships to be held here in two thousand and fourteen i think everyone has been very impressed by the quality of the facilities that finished it's exceptionally bad and there were thing else around so two years from the world championship it's great to have her world cup matches here it's all of these things. the twenty twelve world cup program is one state shorter than usual due to the london olympics scheduled for the end of the summer so for many athletes this tournament was the last chance to find their best form ahead of the

domestic championships which will ultimately determine all the olympic games participants can add in team leader adam dunn corridor is guaranteed in the olympic sport already but he found the motivation to seek all of their position in the kayak one thousand meters final i'm very excited and on or near everything in my country and will form a part of london looking forward to being with you know her strong syrian team a small but strong kenyan team can be my third olympics representing canada so my side of the russian olympic squad will be named at the end of june after the domestic championships and it will be a tough choice for the team's coaches as the country will compete in eleven of the twelve disciplines repulsor guy and alexandra de chanda have been leading competitors for russia in recent months when goals of the mostly world cup stage in the case. but even they see room for improvement was working regularly such as

we're here we were first place in duesberg now we are first here in moscow and it's obviously a very good but there are still some negatives to be eliminated from our performance like among them we're going to do that together with our team the great coaches medical staff and the rest of the boards that have. been in there limb pickier the results of the world cup events are often under the shadow of the world's biggest competition it applies to a huge variety of sports in a row in is no exception but when the time comes the sport's best will be a donia lake hoping to create their own little bit of history. artsy moscow. well that is all the sport for now i'll have more for you in a little under two hours time here on all say weather is next.

sigrid laboratory to mukherjee was able to build a most sophisticated robot. doesn't give a darn about anything mission to teach creation why it should care about humans and . this is why you should care only.

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her. susie. seems. to see. we. see see. today. game flared up see these are the images the world has been seeing from the streets of canada i should say. says.

as calls for foreign intervention in syria grow in some western and arab countries china warns against meddling in the conflict saying it would lead to war. if someone suggested i go to prison we don't all have good company with him a poet in response to opposition leaflets given out during the russian e.u. summit in st petersburg but again stresses there were no political motives behind the jailing of four more oil tycoon mikhail khodorkovsky. and thousands of canadian students returned to the streets to protest against the rising cost of education fearing their countries copying the us system but slandered young americans deep in debt.

five pm monday afternoon near moscow welcome if you just joined us this is our t. i'm kevin now in china's warning that syria faces even more bloodshed if the west helps unleash military intervention and signal that abandoning the u.n. peace plan could push the country into a full scale war voices are growing and some arab and western nations for armed action to force regime change after the civilian slaughter in houla but is out is where if national reports no recent incursion said dangerous presidents. ten days after the terrible massacre in the syrian city of houla the world is still watching to see how this tipping point will shape the crisis while there is still at least some hope of a peaceful solution many analysts believe those hopes are fading fast the american british and french push for military intervention in syria is absolutely enormous we've seen hague of course william hague the british foreign secretary calling for intervene.