preserving seldom risk in the fall as already happening in greece and unfortunately when you have to watch privately in public died it takes a long time up to a decade to do the leveraging means to standardize save more to reduce that over time and that implies a more economical high unemployment rate and some degree of social and political instability and happiness so we are still able to i would say. you know this slow economic growth if not outright that a session in the eurozone that is called the faults by governments is going to stay with us for a number of years if you gave a percentage of a chance of greece exiting the euro zone how much would that be and would it be good for greece to come out of the years and i would say that you know by next year and i would say that is at least they are probably related they greece exit the euro zone thing about actually even if they like not in june

a new government is going to try to get a forum that it can all mix issues are coming so sustainable that they will exit and i would say that it could be good good for them as long as the exit is orderly . and means that then there are mosques in the ratio a shown that actually called upright believe that a store of good old restore excel ballance of who's going to be damaged the banks damage the savings of people in the banks and that's why they need more funding to make sure that he's not these old building meltdown and the contagion of the rest of the eurozone is mol this life is done niggas see it that way and it's finance and he's all of the really probably it's a it's a manageable look on the bags do you think in the worst case scenario when greece for example exits the euro zone we see it defaulting on its debt other countries in the peripheral europe also doing the same following its example do you think we might be going back to the so-called economic dark ages that we've seen for more than a decade in europe. and in the thirty's well there is certainly

a risk that the situation could become this or that in the eurozone like at these all of the early default an exit by. contagion with iran on the banks he made early in spain then they lose market and then they eventually have to restructure the diet's any band that's not sufficient in a few years down the line they also ags of the eurozone in which case the eurozone you know all breaks up and you could have a significant european and a global you know financial model and then you could end up like japan with a long terms like a nation if you hold and other the pressure and serious and all of these things happening at the same time maybe as the low probability but there's a risk we have to conserve ourselves there's a chance that they europeans get their act together and while being number of years of of rediscover a sideshow and all of bumpiness in fiscal condition eventually you have more integration more of fiscal do no more of

a banking union that will probably zation eventually probably you're doing your own soul instead of these integration you could have a process leads to great that integration and eventually more stability for europe in the global economy do you think that's actually possible because europeans basically do not see much of a perspective of a political union because you know greeks and say swedes they do not align themselves together they do they think of themselves as separate nations some people are skeptical some people say they have no choice and every time there's been a cries in europe it has been a gradual bit more integration there's no choice because that is integration with imply economic and financial damage and even in germany i alone in a world economy without a rising power like china or india. or existing superpower like us could be economic and i just like the midget so somebody who is the you know the europeans have to stick together. you have their own weight in global economic and even

political affairs many books including yours have been written as to the reasons behind the housing market collapse in the united states what about in europe what would you put the most blame on and how much is brussels to blame for what's happening right now so you know sometimes people tend to say the eurozone problem is because of lack of fiscal discipline or fiske of recklessness that applies really the only only degrees c. has a reason to lie then cheat there then that that is a fifteen percent of g.d.p. and the deficit blow up and then that led to the fiscal crises and actually in that in spain in the island was the private sector that eventually led to the problems of having to bail out the banks large their physical rate of the fiscal problem was all the fiscal problem the first place. so you know you cannot generalize there are different types of crisis within the eurozone not all of them were necessarily driven by excesses in the public sector at several of them where the binocular by

excesses in the private sector because of poor regulations provision of the bankers is that a creator they real estate then and and i cried bob what about the main economic power in the united states you said that economic growth would slow down next year to one one in the house but sent do you think that also apart from slowing economic growth the united states runs the risk of seeing pretty much the same what's going on in the euro zone right now for not no i don't think there would be a fiscal cries in the us even if the deficit and that large arising in part because u.s. can print money from us is that this is something the european central bank is unwilling to rule because of the u.s. dollars in the currency so the foreign the man of china and the rest of the emerging market is financing the largest prescribed and current account deficits no country could should be complacent over time. if the u.s.

were not to deal with his own fiscal problem it is not going to do extend local even as eventually you could have a fiscal train wreck or a sudden stop of copy and that financial tomorrow could happen the united states that or for whatever is the result of the election next year or whether it's going to be a president starting a plan that leads to a fiscal discipline of his coke or sort of a show to be part of the what the u.s. has to do you know toward the risk of something bad happening he was you know would have been later in the us than other contraries but it could also have been us eventually but you expect the u.s. role in the dollar's role as a reserve currency to to continue as it is right now to maintain its positions and what is your take on the euro dollar rate because last year we asked you the same question and you said that you would not bet your money on the euro and you are right about now there is a generalized. and that means with the us dollar the tween us fiscal and current take on that say by the realities for now there is not that. the u.s.

dollar that's why people are still in this limbo on the second question you had last year the euro was close at one fifteen our growth to one point five zero so you know they are all just falling financial problems that it's a bag of break out that the girl should weaken likely to leave the only thing that would maybe stop that we can solve the eurozone is either the u.s. economy come so weak that then the dollar weakens and the fed pretty small me and then weakens the dollar or that finally the european get their act together that fund the ground plan that leads to a banking union fiscal doing in that motel is a show restoring rolled. and other things that the restore hope that they eurozone is going to stay together in which case the euro could start to rally again or among of the main downside risks to the global economy you mention of course a very slow economic recovery. where do you see the new tigers muds and what is the

present role of brics nations this throng growth economies the world of being an emerging markets until recently mowed the brakes by that i was sol some other rising power as you know turkey or in the knees you know or mexico's not just the brics and what concern is about the briggs and other emerging market is in all of them for the federal reserve and there's now a slowdown of growth you see it in china city in russia you see it in brazil in part of this because europe and you are sort of slowing down if not constructing but in part of this because many of these companies are move their way from market oriented to foreign wars and all the local these are better for you as a state within the much government intervention economy much role of the state on banks thing on the enterprise is a much more faction is too much resource nationalism and over that's a negative because it's going to slow down potential growth it's going to lead to

lower the long run you can only grow so more of the by the brakes actually going in the wrong that actually in the next few years that's a risk that we have to consider what about russia specific role because recently you said the russia correct me if i'm wrong that russia should not be considered as one of the brics nations and will never be included into the g eight if it continues with its with its basically protectionist policy what you know on the g eight you know you're present in the side then not the time the g eight summit because you said he was busy creating his own cabinet that was a bit of a strange thing to do or like a snob you know in the case of the briggs the ponies you know russia's potential growth to date based on their statements by that but the going to be our central bank is three and a half percent while china and india recently were growing eight nine percent and now they're slowing down so you have a contrary we're at a low potential girl that where there is that you know not as much market oriented . those thoughts on a forum you have an aging of hope or nation there is

a certain amount of lack of transparency that is such that a month of co-op shown. in the seas in the point of god sees them not as institutional weaknesses of course that also slang general or a source says a good skilled labor force is allowed to con three could they play an important role in the global economy by the thing that the important role and that success is conditional on moving away from state got their ways and so the lesson is you know open up the trade to investment to convert the flows of what i do with a regime which is not pugilists a failure but then having a stronger economy as thawing policy framework means that even a wooden times are bad then shocks would call from the rest of the global economy you're going to be able to back that up sold was chalk's rather than and cutting into a severe of financial crisis at the end that's the lesson thank you thank you very much mr a pleasure being refute that.

well with. science technology innovation all the developments from around russia we've got the future covered.

stories today russian opposition activists launch another mass rally in moscow is happening right now in fact with a reported twenty thousand people taking part but a high nationalist turnout sparking fears the demo my not one is peacefully as intended would totally cross the story more on it throughout the coming hours. united nations observers report a sharp rise in rebel attacks on syrian forces as nato chief in said a possible armed incursion regardless of un backing. but israel begins implementing its plan to expel more than fifty thousand african refugees as what seen as a racist purging policy deepens in the self-styled oasis of democracy. one of the stories not really as well don't call now let's get up to speed with a sport you know and see it at quarter to three most code time of course but just what just under eight hours now from russia's football is taking center stage again tonight that's right there's a quarterfinal spot at stake tonight but it's

a big one it's against poland in warsaw for. twenty twelve more not kevin in just a sec. if you're with us this is for today plenty heading looting the stories increase. in poll position after victory in their opening euro two thousand and twelve through much russia perfect game two against co-host poland choose the evening. magic monday rafael nadal borg's record of six french open titles with victory over world number one novak djokovic chyna reinsulate final. then there was one more school plays host to the first unified cushion karate european championships in over two decades. every team of the european football championships have not

played their first game group days turn in the spotlight came on monday with england and france kicking off proceedings partridge talks us through what up. france one thing then won and is on is even from the european heavyweights from the first match in group the following one came into this town of the only world cup winners never to have won the euros and under roy hodgson they had a manager you know you being in charge for forty days not missing a face to play as things ended wayne rooney and i were up against a long lost team here and beat me twenty one matches and the french had the best of the first half an hour but then in open the scoring a free kick from steven gerrard on the right hand side journey unless one is about biology or i was playing in one of their laps while the french could swiftly have equalized a free kick that was conceded by alex up a table in the eighteen year old day present for england has passed him by sonny an answer he found early diarra but he could only head straight up joe hart his reflexes say to sure go but nine minutes after england today france did equalise

some great work on the edge of the box by patrice evra front we're very glad now he's composites and people watch the french ones up at the end of the first half and for most of the second and attempts to go their returns by year one could buy in also karim benzema but one one stayed roy hodgson unbeaten in three games or on loan they do twenty two. co-hosts ukraine also getting their complaint on the way in kiev on the day was a successful adding a brace from thirty five year old securing his side at two on win over sweden after him a bit should open the scoring seven minutes after the break. or mark will turn round both on and off the pitch for the ukrainian side who have been suffering from a bite of food poisoning last week but. charges showed few ill effects during one of the games of treatment to date leaving fans throughout the country daring to dream. and this is the very pleasant picture of their no seeing ukraine in the driving seat to secure one of the two automatic qualifying spots from group d.

the next day france on friday with england taking on sweden. russian football fans meanwhile are hoping for a double celebration later tonight with dick advocaat side taking on poland amid russia day festivities back home richard from port fleet who's in warsaw has more on the group a clash. it's going to be a huge night for russia on tuesday as they take on poland where a victory will be good enough to send them for you to the knockout stages but once again dick advocaat will have a full strength score to churches from those were no injuries you'll be looking for his team to continue perform at solving the czech republic for one last time out if . we've only played one game so we'll have to wait and see what happens in the next to me so it was important for us to set the tone and when the opening clinch but that's all in the plan we're now focused on security all nine points by the end of the group stages. for russia will be looking to build on their excellent performance against the czech republic where at times they really were irresistible form especially attacking triumvirate and. alexander casualty of close as well

as finally managed to find his form again after a difficult start of year at arsenal really was out of form but he was incredibly impressive against the czechs and is really key to russia's hopes at this tournament but he can be in top form and try and terrorize opposition defenses has been some talk of perhaps alexander occasional dropping to the subs to spend half the mr for host of chances against the czechs but my opinion had actually decent game he was just one bit unlucky not to find a back of a national number of davids chances would have gone in so to balance i concede to come back out staying with the same side already a lot depends on if russia can play a pace and i think the poles are going to find it very difficult. under a very strong team who have home advantage however we're confident that we can make things difficult for them so we know that if one of our players isn't playing well someone else has to step up and gave the nobility. of the poland her training

behind me it's really a must win game or at least get a draw on tuesday against the russians are going to keep her alive making the knockout stages fans because they could only manage a draw with greece in their opening game as well as the poles are actually very impressive in first twenty minutes is because the greeks a whole host of problems but unfortunately just one. balance rhythm and fluid football going for the rest of our mind and really now we're on a lot of pressure against group favorites to try and at least get a result for russia they're going to have plenty of attacking tench of themselves trying to polish head coach was more than aware of. russia are clearly the favorites in the group and we have a very solid experienced team with plenty of firepower we haven't lost to them since ninety nine to six and coming up with a proper tactics for the match should hopefully help us continue that streak too much russia short of face an incredibly hostile atmosphere here when the match does kick off with around fifty five thousand polish fans cheering on their team but

it's important that the russians put back to the back of the mind and really concentrating on getting a victory that will put them through to the knockout stages richard pombo played r.t. wausau richard looking very smart moving to the club game where the new manager of russian premier league side spartak moscow has been meeting the media for the first time as boss of the red and white spaniard unite emery replacing hillary karpen of the helm of the country's most successful side the forty year old signing a two year contract after coaching a league sidelines here for the past four seasons on the new man has been outlining his aims for the coming season. order there is a real good teams in rushers searchers. and. the main goal is to compete with russia's best club in the plymouth. i believe they were three needed to start challenging them at the top of the table with that switch codes to tennis for rafael nadal has become the first man in history to win seven french open titles the spaniard seeing off world number one novak djokovic in

a final which rolled over an extra day because of rain but del held a two sets two one lead over night from sunday although when play resumed serve joke which was up a break in the fourth the click or king over quickly wiped out that advantage and went on to wrap up the win six four six three two six said. games to five the victory described as a very emotional one but a new york native. sure the seventy's import of them because the player who has more today but my guy said yes. that's after for me the important thing is when i learned that it was even if it was the first second or so. that's what's thanks me very happy very happy the way that i bled today and i'm just happy to be in this position you know to be playing finals the wrong girls you know i could easily. have laws the match you know in fourth round or even more against stronger but i managed to come to the finals for the first time in my career i should be happy

about it of course i will be and i am but in this moment disappointed about this loss moscow this weekend became a mecca for practitioners of the kyle cushion form of karate the russian capital playing host to the european championships which itself was the first unified event in the discipline for more than twenty years the most popular form of cruddy across the globe is strongly rooted in russia thanks to the country's former natural resources minister yuri trick here currently a presidential aide and a fifth karate master trip you have helped create a world you know last year the european finals reaching far beyond the continent this time outs with fighters from japan africa central asia and the middle east all on shall. get a new puter as they were started karate for twenty five years so we've seen numerous to what it's really special however because it's the first event uniting various schools of cocoa shoes into the death of its i don't know what you think

must return to where you are marine one hundred ninety four additionally karate is currently on the short list to get into the olympic games so this must all be united to achieve that goal when. there is no more california dreaming for the los angeles kings the ice hockey side trying to n.h.l. . pains for the first ever time dorle suitors chargers doing the business in style in game six to win for two overall a six one hummer of the new jersey devils on monday raising nineteen years of painful memories nineteen ninety three the last time they had reached the finals losing in montreal the kings are stunning goaltender john think quick afterwards lifted the console my trophy playoff m.v.p. . finally back to football now you may remember a paul the psychic octopus he managed to predict correctly all of germany seven results of the twenty ten world cup well his successor has arrived. the elephant

lives are kruk of zeus on her chosen method of prediction so for you on melons to be exact on monday she picked the one in front of the pole and flood the poles as we heard earlier take on russia tonight but russian fans props shouldn't fret too much thirty three year old sister got her first picture wrong when she got hold off the melon which suggested poland would be greece on the opening day the. let's hope she's strong tonight as well the love is all your sport the weather is next here in twenty four hour. well. science technology innovation all the latest developments from around russia we've got those huge you're covered.

song from phones to its. own stunts on t.v. dot com. good laboratory was able to build a new most sophisticated robot fortunately don't amount to anything tunes mission to teach music creation why it should care about humans in the world this is why you should care only. download the official anti up location. i pod touch from the. life on the go. video on demand. broadcasts and feeds in the palm of your. question. dot com.

russian opposition activists launch another mass rally here in moscow with a reported twenty thousand people taking part right now but a high nationalist turnout is sparking fears the demo might not run this place fully intended. united nations observers reporters shot rise in rebel attacks on syrian forces as nato chief then set up possible. regardless of un backing. israel begins implementing its plan to expel more than fifty thousand african refugees seen as a racist purging policy deepens in the self-styled of democracy. and convenience costs your confidentiality today's julie the sun show on our t.v. this hour here's wiring evidence of firms prying into your previous see on line.

three pm here in moscow welcome if you just tuned to a c watching r.t. with me kevin now in and first russia's opposition has now finished a mass march through central moscow which is to get a major gathering in the capital police say up to twenty thousand people of there while anti-government activists say it's at least five times more than that artie's pedro all of us amongst them it's touch up with him to get the latest taipei to thousands out there no matter how you look at it in moscow as we're seeing who who are the people that are making up that crowd predominantly. what we've seen people make their way from pushkin sky a square here to say that all the streets in central moscow from all over the political starts in russia what has raised a few eyebrows and perhaps a few worries as well as the number of nationalists and nationalist groups that are here there's a vast number of.