at eight thirty pm moscow time these are the top stories on archie syrian rebels reject the u.n. peace plan and renew international calls to impose a no fly zone for sound president also that's his voice is growing in some arab and western countries for armed action after civilian stronger in. spite expectation syria would also dominate the russia summit in st petersburg it was russia's own affairs that were in the spotlight when commenting once again on the imprisonment of a former oil tycoon. but the american legion reiterated 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 the back authorities on the issue broken down the protesters also say they fear their country is comping the u.s. system that's landed young americans deep in debt. book next week talk to american economist and nobel laureate eric mask and to find out what he thinks is on the horizon for the troubled world to come. mascon aapl are it in economics it's great to have you with us sir today it's a pleasure so i'll start with greece and the latest news we know that christie's

public finance is practically paralyzed three cows that pensions and salaries won't be paid in june and then you have people and companies transferring their assets out of the country how much worse can actually the cash crunch get will they even be able to 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 will through to the election but things could deteriorate and get even worse and in the meantime i c b 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 they were they were they were it would be true. fiscal integration true centralization of fiscal policy. they are. public debt problems that we see in greece but we also see spain and italy and 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have been solved by by virtue of having a centralized europe according to media reports three billion in cash was withdrawn from greek banks.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 the cash greek band backs banks hold how sustainable is that well it was 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 in 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 the biggest spill out in spanish banking history and have the spanish banks soak up the already sure spain has had. some real problems too. while they have whether or not nearly. as serious trouble. as greece it's. it's bad 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. exercise 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 is the idea of euro bonds to translates private debts and. or national debts and so the european objects some fund managers are openly right now dumping the hero 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 gap and its government up six 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. a debt problem in the u.s. in the sense that the debt to g.d.p. ratio is higher than it normally is 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 out of something like eight percent which is 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 talk 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 in 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 agencies say with with less seriousness than 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 pretty thing to 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 from aaa to double why. that didn't do the crisis any favor that there were there were there were some temporary turbulence as a result of that i don't think in the long run. if it did. serious damage but it was a but it was not. it was certainly not a positive step can i ask you something if let's say two three maybe four years ago someone would have sat that you were already facing at crisis of the 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 nine was was something of a surprise to many economists but the problem with europe were not at all miss that there were many economists very 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 wedding when the problems. of 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 account currency. how does that happen we'll have to adopt will have to either go back to the drachma or adopt the dollar or adopt some other occurred say these things have happened before 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 you get really if that happens it could be very bad for for greece like well 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 high it's already very high but it could it could certainly get higher. things are by no means currently as bad as they as they could get more do you think chris 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 on politics i think at this point given what has happened it's more likely than not

that greece will leave the theater and. i don't i can't say that with enormous confidence but. the signs seem to be pointing in that direction right my skin thank you very much for this interview my pleasure. i had a family i lived in a failing nice community wasn't rich it was an upscale it was just like you know archie bunker society ok then they started showing up what happened was my company decided i could get cheap labor and they got rid of us. these are long meat was legally blind legally we had 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 like figure here's one of the major trails in to the united states. my wife's and they ran ran down my property and this noise. stopped the net cockroaches from coming over the wire is protecting the country i'm the kind of guy who doesn't mind it is pants dirty so i come out here you know we're all immigrants as well that we all accuse i'm sorry ass.

syrian rebels reject the u.n. peace plan and renew international calls to impose a no fly zone to force out president also has voiced his bro and some arab and western countries for armed action after the civilian smarter. despite expectations syria would also dominate the russia even summit in st petersburg it was russia's own affairs that were in the spotlight when commenting once again on the imprisonment of former oil tycoon mikhail cover for ski budgeter putin reiterated 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 of combat from authorities on the instant broke down protesters also say they fear their country is copying the u.s. system that's landed young americans deep in the dam. time now for some sports action here in r t with paul. thank you and also welcome to the world of sports is what we've got coming up still outstanding russia's sole representative in the french open maria sharapova books her place in the quarterfinals with a three set win over czech plowers a couple of hours. out of the rough tiger woods ends the worst three tournament run of his career with a stunning when the memorial. and the river run up moscow plays host to the latest stage of the canoe world cup it's also what is an important prep tournament

for russia's london twenty twelve olympic hopefuls. but let's start on the clay court of the french open where russia's only remaining representative maria sharapova has booked her place in the quarterfinals well though she was pushed all the way into her last sixteen tie and see that call of becoming the first player to take a set off shore up over in the tournament although the siberian native rallied to win the decider also a surprise result with defending champion lino being not child by our sluggish for dover of kazakhstan a dominant display in the final set from the kazakh wimbledon champion patrick of it is up against american bravado a little later on also after dystonia takes on our own children of the netherlands . well in the men's draw frenchman joe wilfred tsonga completed his fourth round match with stanislav putting the home favorite book in his place in the quarterfinals with a five set six four seven six three six three six six four victory his reward in the last eight clash with world number one novak djokovic. former u.s.

open champion juan martin del potro was also through to the quarterfinals he checked thomas but it's in a back of the big service he came through in four sets seven six one six six three seven five the origin time now meets roger federer. meanwhile spawning progress today expensive compared to marcel granollers a comfortable straight sets win a six three six two six love next up in the last eight is either the murray cascade . or they're in action right now in gas k. giving the home fans something to cheer about taking the first six one of them are elites in the second well then it's a win defending champion rafael nadal is two sets up one monaco of argentina spaniard nicolas almagro young gunships out of it in straight sets. now the gulf where it's been a weekend to remember for tiger woods the former world number one winning the

memorial tournament for the fifth time equalling jack nicklaus's 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 on the sixth. go with this birdie on the sixteenth this is the thirty six year old hit a perfect effort from the rough on the power three hole. eventually. by two shots nicklaus himself was on hand to congratulate the winner words a fourteen time major winner now aiming to reach nicklaus his mark of eighteen who could potentially explosive in a food like time when the u.s. open to. america today i really did i miss a shot and that was some good stuff i needed 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.

needed a push and. i finished it off and you know guys better going to couple mistakes but it's so easy to do sixteen sproing so. you know i got away with one there and it was a big swing. now cricket legend sachin tendulkar has joined the growing list of athletes moving. from the world of sports to the world of politics the first cricketer to score one hundred international centuries 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 in his home country had been widely considered an a political cricketer and surprised many with his nomination from the ruling congress party last month the batsman wants to make sports related issues his area of expertise though says he won't be hanging up his butt anytime soon. but. i will let everyone know when i will stop it but at this moment my focus will be on cricket and as and when you know there is a time in between i will look at other things and see how i can help and bring in

whatever changes not only cricket but all of the sports now there are no clear favorites in the n.b.a. playoffs with both the western armies ten conference finals series all square after four games the boston celtics on sunday tying their best of seven contests with miami following overtime rajon rondo notching fifteen points and fifteen assessed as he scored what proved to be the crucial final three points of the recession miami though now enjoy home court advantage with game five taking place on tuesday in south beach. i don't want to be too aggressive because. for office if. you know how to get mighty amazing you know it's not a woman show is no two man show we have. put the banjo in 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 they deliver. meanwhile in the west going five between the spurs and the

thunder takes place on monday that series is also perfectly poised to two after four games with both sides having won their home much is in the best of seven series oklahoma won game four one hundred nine points to one hundred three to level the series which now moves to san antonio. now. the water in moscow this weekend played host to the final stage of the canary sprint world cup but there was even more stake than global bragging rights as six planes. back corrales garo in canoe in canal he's no stranger to hosting major events and it was one of the olympic venues in the nineteen eighty two summer games in moscow it was here that athletes from the soviet union and german democratic republic reigned supreme clinching for gold to peace. 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. it's exceptional. 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 canadian team leader adam dunn quivered and has guaranteed in the olympic sport already but he found the motivation to see all of their position in the kayak one thousand meters final i'm very excited and honored to represent my country and will want more to london looking forward to being with you know her strong here in team

a small but strong can team. be my third olympics representing canada somehow excited 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 coach just as the country will compete in eleven of the twelve discipline. new reports trigger and alexander. have been lead in competitors for russia in recent months when goals are the most the world cup stage in the k two class but even they see room for improvement because 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 and we're going to do that together with our team coaches medical staff and the rest of the global it's the head of. in there limb piccy of the results of the world cup event are often under the shadow of the world's biggest competition

it applies to a huge variety of sports in a row and is no exception but when the time comes the sport's best will be a dorney lake hoping to create their own little bit of history. artsy moscow. now finally that brings us to martial arts where the fight night showdown returns to the russian capital for the seventh time on thursday the top of the bell will see one of russia's best heavyweight prospects for italy minnick off facing american eddie sanchez the twenty nine year old is the vastly more experienced of the two competitors he's won thirteen of his nine hundred fights and has competed on the world's biggest stage at m.m.a. promotion such as u.f.c. and palatal his russian opponent however is the three time world sambo champion his strength is obvious with four of his seven professional wins by way of submission. which is here is my message to eddie do not relax stay focused i have a lot to offer in the ring i'm looking forward to this fight and i would like to

wish any the best of luck but it's a safe bet i will produce many surprises for him as we pour stuff we would be the stand in the struggle he says he's ready for anywhere so was the love surprises but he was so hopeless surprise there is a status field it's all see we'll see what happens and i think that's a lot of talk what's a fire comes i'll. throw. well that is all from the world of sports now i'll have more for you in a little under two hours time join me then. it is easy peasy.

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