going belly up qantas having solvent risk in the fall as already happening in greece and unfortunately when you have to watch privately in public diet it takes a long time up to a decade or two to be leveraging that means to sterilize save more to reduce that over time and that implies that the economic growth high unemployment rate and some degree of social and political instability at hand happiness so we are able to i would say. you know this slow economic growth if not outright the recession 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 theater i would say that is at least that probably rated the greece exit the euro zone thing about actually even if they elect not in june

a new government has another tried to go to form 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 massive differentiation on that axworthy called upright believe that it's still a good old historic sell 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 only metal down and the contagion of the rest of the eurozone is small there so it does not make a 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 from the.

than a decade in europe 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 then contagion with iran on the banks he made early in spain then they lose market and then they eventually have to restructure the diets and been 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 turmoil and then you could end up like japan with long terms like a nation if you hold another the pressure and it's a risk now all 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 side issue and all of bumpiness in fiscal condition about and surely you have more integration more of a fiscal union more of

a banking union that will proposition eventually probably your doing and so 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 there's been a gradual bit more integration and there's no choice because the disintegration would imply economic and financial damage and even to 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 made that so its own view is that you know. the europeans have

to stick together to 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 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 a lack of fiscal discipline or fiske of recklessness that applies really the really only degrees c. has a reason to lie then they had that this is a fifteen percent of g.d.p. and the deficit blowup and then that led to the fiscal crises but actually in that spain in the island was the private sector that eventually led to the problems of having to bail out the banks large that is the crater 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 better 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 bank of says that a creator of a real estate than an opposite 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 and a half percent 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 nano i don't think there will be a fiscal cries in the us even if the deficit and that large arising in part because us can print money to finance is that this is something the european central bank is unwilling to rule because of the u.s. dollars in the currency so therefore in the matter of china and the rest of the emerging market these financing the largest. 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 be to extend local might 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 are for whatever is the result of the action next year or whether it's going to be a president starting a plan that leads to fiscal discipline of fiscal consolidation to be part of 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 white house than other contraries but it could also have been us eventually but you expect the u.s. role and the dollars roll 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 happiness way and i've been with the u.s. dollar the tween us fiscal and current take on that say by the realities for now

there is not that. kind of through 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 twenty five i would say you know they are all just telling financial problem that it's a bag of breakout that the girl should weaken likely to leave the only thing that could 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 this guy doing in that motel is a show restoring gold. and other things that the restore hope that the eurozone is going to stay together in which case the euro could start to rally again are among of the main downside risks to the global economy you mention of course very slow we all can. like recovery where do you see the new tigers muds and what is the present

role of brics nations this strong growth economies the world of being an emerging markets until recently mowed the brakes by that i was sold some other rising power as you know turkey or indonesia you know or mexico's not just the breaks what concern is about the briggs and other emerging market is in all of them for the federal reserve there is 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 these because many of these countries are moved away from market oriented but of foreign wars a mile below the world these are better for us a state of them so much government intervention economy too much role it's the state owned banks thing all the enterprises so much protection is too much resource nationalism and over time that's a negative because of a slowdown potential growth is going to lead to lower the long run we can only grow

so more of the bad the brakes are actually going in the wrong that actually in the next few years that's a risk that we have to consider what about russia's 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 the time the g eight summit because he 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 breaks the point is you know russia's potential growth today based on the statements by the deputy going to be our central bank is three and a half percent. until recently were growing eight nine percent now they're slowing down so you have a con three we have 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 has some of that amount of co-op shown. tendencies in the pointed out system that is institutional weaknesses of course that also is things you know or a source says 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 because at the flows of course i do with a regime which is not pugilists a fair bit but then having a strong economy as thong 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 superior financial crises is the and that's the lesson thank you thank you very much mr a pleasure being reviewed that.

there hasn't been anything yet on t.v. . it is to get the maximum political impact. before the source material is worth hopes he journalism on the real. world. we want to preserve. something else. he has to.

go crowds of opposition activists rallying in the center of the capital right now the genders ranging from the far left to national extremists more about that rally in fifteen minutes. intensifies across syria with u.n. observers pointing out a spike in coordinated rebel attacks which government troops have to repel clashes leading to foreign powers increasingly hinting at intervention. a no room for refugees after promising to provide sanctuary israel the west dozens of african migrants who fled violence in their homeland is the first stage of the leadership plan did a poor job of four thousand take. the news in full is a say with me kevin zero in just a quarter of an hour away now though world sport. thank

you very much kevin welcome to the world of sport is what's coming up match day to brush and book their place in the last day euro two thousand and twelve later on tuesday as they take on co-host poland in warsaw. the final countdown the n.b.a. season comes down to the miami heat and oklahoma city thunder begin their best of seven final series later on tuesday. major in the second major on the golfing calendar this weekend as the u.s. open takes place in san francisco. but first if results go their way russia could be celebrating booking their place in the quarter finals of euro two thousand and twelve later because men take on co-host poland in warsaw and changed a thing which is in the polish capital. 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 to come back out we'll have

a full strength score choose from zero zero no injuries you'll be looking for his team to continue perform at solving the czech republic for one last time out. we've only played one game so we'll have to wait and see what happens in the next to match it was important for us to set the tone and win the opening clench but that's all in the plan we're now focused on security all nine points by the end of the group stage. while russia will be looking to build on their excellent performance against the czech republic where at times they really were in irresistible form especially attacking triumvirate and. alexander casualty of. chavez finally managed to find his form again after a difficult start of year at arsenal where they 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 trying to terrorize opposition defenses has been some talk of perhaps alexander occasional dropping to the. whole host of chan. this is going to change my opinion he had actually decent game he was

just one bit unlucky not to find a back of a national number of david chances would have gone in so to balance i can see him to come back out staying with the same side and really a lot depends on it russia can play a pace but 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 over there and gave them the ability when. the poland who are 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 their hopes alive of making the knockout stages bounce 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 briggs a whole host of problems but unfortunately just one able to keep balance rhythm and fluid football going for the rest of the match and really now they're under 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 they have a very solid experienced team with plenty of firepower we haven't lost to them since nine hundred ninety six and coming up with proper tactics for the match should hopefully help us continue that streak he said too much russia shoulder 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 is important to russians put back the back of the mind and really concentrating on getting a victory that will put them through to the knockout stages. harty warsaw well every team at euro two thousand and twelve has now played their first game turning the spotlight came on monday with england and france kicking off proceedings partridge watch the action. france won england won and is known as even from the european heavyweights from the first match in group d. o.

england came into this tournament the only world cup winners never to have won the euros and under roy hodgson they had a manager you don't need being in charge for forty days not missing a place to play is feeling suspended wayne rooney and i were up against long last team there and beaten in twenty one matches and the french had the best of the first half an hour but then open the scoring a free kick from steven gerrard on the right hand side from jersey and left on the right is about values we are running for england won a lot while the french could swiftly have equalized a free kick that was conceded by alex outplayed chamberlain the eighteen year olds eight percent for england was posted by samir nasri he found ality are up but he could only head straight joe hockey's reflexes say to sure go but nine minutes after england today france did equalize some great work on the edge of the box by patrice evra in front were very loud nasty composites and deep water run the french were on top at the end of the first half and for most of the second and ten minutes to go they were tense my young mind could buy it and also karim benzema but one

wanted stayed roy hodgson unbeaten streak games are on loan to be twenty two. while co-host ukraine also getting their campaign underway in kiev on monday and it was a successful start a brace from thirty five year old andre shevchenko securing his side a two one win over sweden after slots on the rim of it should open the scoring seven minutes after the break. so this is the group day after the first round of matches ukraine in the driving seat to secure one of the two automatic qualifying spots for the quarterfinals they next meet fronts on friday with england taking on sweden. moving to the club game now where the new manager of russian premier league side spot on moscow has been meeting the media for the first time as boss of the red and whites spaniard you know i am going to be replacing valerie coffin at the helm of the country's most successful club the forty year old son and a two year contract offer. coaching little league aside valencia for the past four seasons the new man has been outlining his aims for the forthcoming season.

there's a really good teams in russia such as a motive and. main goal is to compete with russia's best club in the premier league is an eight i believe everything needed to start challenging them at the top of the table. over to the n.b.a. hardwood where the season is reaching its climax is the two best teams prepared to go head to head in the playoff finals cheese day night sees the first in the best of seven series between the miami heat from the east and oklahoma city thunder from the west bron james on the hit were taken all the way to seven games in their semifinal win over the boston celtics while oklahoma wrapped up their series against the san antonio spurs for the series starts in oklahoma with the hate looking to put last year's disappointing final series defeat to dallas behind them . i don't think we need more motivation last year is behind us this is a different journey we went through the pain we went through the evaluation we went through the recommitment at the beginning of the year. we survived all these rounds

we have a very motivated group because of the opportunity commercially how obviously how they will feel but i know how our guys really are we were embraced this challenge. but we're not we're not here just to be here we're here to win a championship i was born or go all season long just like twenty twenty nine other teams. now the second golfing major on the calendar takes place this weekend the u.s. open getting underway at the olympic club in san francisco on thursday is an intriguing prospect in store with the world's top players having all showing form heading into the tournament fourteen time major winner tiger woods recently winning the memorial tournament for a fifth time while defending champion rory mcilroy he was in contention until the final few holes of the st jude classic last weekend a level could be the fact that the course isn't used on the p.g.a. tour meaning none of the world's finest will be too familiar with the narrow tree

line fairways punishing rough and small undulating grains the fairways get tight if you drop the ball if you fade the board a little bit wider. for you but in order to make very shifted you know if you hit it into the rough it can happen that you can get home into it and if you're in the rough it's very difficult to stop the ball in those small greens so it's tough it's a challenge but you know this is what you know when you come in is going to be one of the most difficult weeks or year to motorsport now in two time defending f one champion sebastian vettel is getting a major head start on the competition for next year's american grand prix the german stopping by new jersey to test out the new circuit which will be added to the calendar in two thousand and thirteen the twenty four year old finished in fourth place at the canadian grand prix on sunday and decided to stick around on the continent afterwards the german forced to use a much tamer road car rather than his red bull racer with the road surface not suited for f one specs just yet battle did manage to race here in two thousand and

seven which was the last time the event was held he was named a substitute driver for b.m.w. salvage. and finished seventh. monaco is very special for us has a lot of history a cetera but i think this race is going to be very very great and very soon will be one of the races that you know every driver wants to win no doubt. finally there is no more california dreaming for the los angeles kings the ice hockey side crowned n.h.l. champions for the first time ever they're all such as men doing the business in style in game six to without four two i've rolled a six one hundred all the new jersey devils on monday are raising nineteen years of painful memories nine hundred ninety three the last time they had reached the finals losing to montreal the kings outstanding goaltender jonathan quick afterwards if that because my trophy. and the. quote is all the sport for now i'll have more for you in

a little under two hours time here on r.t. to me that.

i'm sure all of our got a story or out about this crazy lady with a convertible that honk for every time she. was on death row for. life that. has these people less than human it is necessary to punish crime everything we do to punish crime is unpleasant. but it needs to be done nobody wants to be linked to the nazis but the historical antecedents of the american death penalty today in

large part from the nazis and the sad part is. their way and they execute him and i won't be allowed to touch him until after he's dead. any time i leave the house. and he keeps telling me they can't hear me and they are. blocked from concrete but every time i go by. i won't be there i will not witness for the killing my.

crowds of opposition activists are rallying in central moscow the afternoon with agendas ranging from the far left to national extremists will be going live. in just a few moments time. other headlines violence intensifies across syria with you and observers pointing out a spike in quarter one thousand rebel attacks which government troops have to repel clashes leading to foreign powers increasingly hinting now at intervention. and no roof for refugees after promising to provide sanctuary israel begins arresting african migrants who fled violence in their homeland and applying to forto to deport over four thousand. hello it's five pm now here in moscow you're watching r t with me kevin zero in with you this hour on our top story

a mass opposition rally is currently taking place in moscow thousands of people gathered for a demonstration in the center of the city to all of us live in the past couple of hours peter about fifteen minutes ago even in this heavily sound deaden studio we had a great big crack of thunder there's been a big storm out there i think the rain has been lashing down as well i guess that's going to that in effect what has been happening over the last hours is the last spoke to you. well that's correct the weather has really been an issue in the past we've seen lightning in an absolute deluge of rain clearing. tens of thousands of people. around an hour ago now there's a few hundred said the front next of the stage listening to one of the bonds that was scheduled for the scene they just have to do now what we have seen is groups from the fall left to the far right it everywhere in between coming out to voice their. unhappiness with the current government in russia what was worrying was a one of the largest groups that would hear were a group.