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tv   [untitled]    June 12, 2012 12:30pm-1:00pm EDT

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at eight thirty pm moscow time these are the top stories on archie cans of thousands of opposition activists have rallied in central moscow with agendas ranging from far left to nationalistic street. violence intensifies across syria with un observers pointing out a spike in coordinated rebel attacks which government troops have to repel clashes leading to foreign powers increasingly hinting at intervention. and no room for refugees after promising to provide sanctuary israel begins arresting african
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migrants violence in their homeland and plans to deport over four thousand people. next a renowned economist who predicted the two thousand and eight global financial crisis speaks to us nouriel roubini gives us his forecast of what we can expect next and whether europe can weather the storm. mr beattie thank you very much for your time in two thousand and six you predicted that there would be a deep economic crisis and six years later we're still in it now did you expect it to last so long that it would be so deep and where all middle in the beginning or maybe there's like the end of the tunnel the crisis morphed into thousand and six was a problem of too much that the leverage of the private sector households bangs financial institutions corporates now as a result of the response of their krises discuss the memos bailing out banks and
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other is over the massive surge in public that and that sits and now there is a risk of conferees as opposed to individuals or bangs going belly up qantas having selling 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 that means the span of less 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 i would say. you know this slow economic growth if not outright a session in the eurozone that is call of the faults by governments is going to stay with us for a number of years if you gave a percentage of the chance of greece exiting the euro zone how much would that be
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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 there is at least a probability did they greece exit the euro zone thinking about actually even if they elect not in june a new government is going to try to get a forum that it can all make solutions 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 all the only. means of then there were massive the shown that acts were a common upright believe that a sort of good old historic set of ballance of course would be damaged the banks damaged the savings of people in the banks and that's why they need more funding to make sure that he's not these old billee meltdown and the contagion of the rest of the eurozone is mol this is the maker see it that way and it's finance and he's all of the early probably. it's a manageable look on the bags do you think in the worst case scenario when greece for example exits the years and we see defaulting on its debt other countries in
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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 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 their diets and even that's not sufficient in a few years down the line they also i guess in 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 a long term study nation if you hold another the pressure on interest 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
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a chance that they europeans get their act together and while the b. number of years of of rediscover a side of bumpiness in fiscal condition about and surely you have more integration more of a fiscal union and more of a banking union that without his asian eventually probably you're doing it 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 with imply massive economic and financial damage and even in germany i alone in
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a world economy without a rising power like china or india. or existing superpower like us could be economic and i just a midget so some view is the 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 lack of fiscal discipline or fiscal recklessness that applies really the only only to greece yes there is a lie then cheat there then that there is a fifteen percent of g.d.p. and the deficit blow up and then that led to the fiscal crisis but actually in that in spain in the island was the private sector that the venture led to the problems of having to bail out the banks large that is of the crater the fiscal problem was
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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 of several of them where the binocular by excesses in the private sector because of poor regulations provision of the bankers is that a creator of a real estate than a. not so that in a crowded bubble 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 no i don't think they'll be a fiscal cries in the u.s. even if the deficit than that of a large arising in part because u.s. can print money to finance is that this is something the europeans have long as i'm willing to rule because of the u.s.
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dollars in the presidency so therefore in the manner of trying the rest of the emerging market these financing the largest piece and current account deficits now no conflict which would be complacent over time if the u.s. were not to deal with his own fiscal problem because not of the lyrics then local even as eventually you could have a fiscal train wreck or a sudden stop of copy dollars and then financial tomorrow could happen the united states that are for whatever is the result of the action next year 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 to avoid the risk of something bad happening he was you know would have been later in the u.s. than other contraries but you could also have been us eventually do you expect the u.s. role in the dollar as 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
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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 with the u.s. dollar that the tween us fiscal and current take on that say by the realities for now there is not. going to the us dollar that's why people are still in this limbo on the second question in the last year of the year was. close at one fifteen i'll go to one twenty five so you know they are all just telling financial problem that it's a bag of breakout that the girl should weaken and is likely to weaken the only thing that may be stopped that we can as of the eurozone is either the us economy come so weak that then the dollar weakens and the fed prints mani 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 girl that. and the other thing is that the restore hope that they
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eurozone is going to stay together in which case the util could start to unravel a game or a among of the main downside risks to the global economy you mention of course very slow economic recovery where do you see the new tigers mudge and what is the present role of brics nations this strong growth economy is the world of being an emerging markets until recently the brics but that always sold some other rising power as you know turkey or in the ne job you know or mexico's not just the brics what concerns 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 the us sort of slowing down if not constructing but in part of this because many of these companies and their way to market oriented a foreign wars a mile below the world these are better for you as a state that so much government intervention the economy much role it's the state
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owned banks than all the enterprises so much protection is too much resource nationalism and over time that's a negative because of a slowdown potential gold is going to lead to lower the long run we can only grow so more and about the brakes are actually going in the wrong that actually in the next few years that's a risk that we have to. can see that what about russia specific role because recently you said the russia correct me if i'm wrong the russians should not be considered as one of the brics nations and the 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 this side the not 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 brig's the point is you know russia's potential growth to date based on their statements by the deputy governor of your central bank is the three and a half percent of the time in india until recently were growing eight nine percent
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now they are slowing down so you have a contrary where you have low potential girl that where there is you know not as much market oriented there was through reform you have aging of population there is a certain amount of lack of transparency that is that amount of corruption. and tendencies in the political system that is institutional weaknesses of course that also is things you know resources 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 cop delays and so the lesson is you know open up the trade to investment to cover the flows of course i'd go with a regime which is not pugilists affair but then having a strong economy is thawing policy very much brains that even a wooden times are bad then shocks would call from the rest of the global economy
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you're going to be able to back that up sort of the stocks rather than and turning into a severe financial crisis and then that's the lesson thank you thank you very much mr a pleasure being with. to.
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see.
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the. are today's top stories towns of thousands of opposition activists rally in central moscow with agendas ranging from the far left to nationalist extremists to. violence intensifies across syria with un observers pointing out a spike in coordinating rebel attacks which government troops have to repel russians leading to foreign powers increasingly hinting at intervention. and no room for refugees after promising to provide sanctuary israel begins a rush to african migrants violence in their homeland and plans to deport over four thousand people. next polls here with the latest sport.
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thank you very much and he said welcome back to the world of sports here's what we've got coming up for you. match day two russia can book their place in the last day to euro two thousand and twelve as they take on co-host poland in warsaw. the final countdown the n.b.a. season comes down to the miami heat and the oklahoma city thunder in their best of seven final series later on tuesday. and a major injury the second major on the golfing calendar tees off this weekend as the u.s. open takes place in san francisco. but first to euro two thousand and twelve russia can book their place in the last state on tuesday if they are able to be co-host poland in warsaw that game kicks off a little later on but first also in group a great at taking on the czech republic
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the czechs looking to bounce back from the four one defeat to russia in the early match and they made a blistering start culture and try to get a check and vaslav keilar for them to know after just five minutes the half time whistle has literally just gone. so russia could be celebrating booking their place in the quarterfinals later a great way of course tomorrow russia day they can because men take on co-host poland in warsaw which of important it 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 scored 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 if. we've only played one game so we'll have to wait and see what happens in the next to me it was important for us to said the tall and when the opening clenched but that's all and. we're now focused on security all. nine points by the end of the
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group stage. four 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 your ass hole 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 try and terrorize opposition defenses has been some talk of perhaps alexander occasional dropping to the subs to spend shafting this time 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 an eye on the number of davids chances would have gone in total as i can see that 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
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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 them the ability when. 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 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 the 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 house 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 clearly the favorites in the group and only 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 a proper tactics for the match should hopefully help us continue that streak.
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russia shoulder face an incredibly hostile atmosphere when the match does kick off with around fifty five thousand polish fans cheering on their team but it is important that the russians put back the back of a mind and really concentrating on getting a victory that will put them through to the knockout stages. wausau now over to the n.b.a. hardwood where the season is reaching its climax is the two remaining teams prepared to go head to head in the playoff finals tuesday night sings the first match in the best of seven series between the miami heat from the east and oklahoma city thunder from the west the bron james and the hate taken all the way to a seventh and deciding game in the semifinal win of the boston celtics while oklahoma wrapped up their series against the san antonio spurs four two the series starts in oklahoma with the heat looking to put last year's disappointing final series defeat to dallas well and truly 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 valuation we went
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through the recommitment at the beginning of the year. we survived all these rounds we have a very motivated group because of the opportunities commercial you have to say how they will feel but i know how you guys feel. we were embraced this challenge. but we're not we're not here just to be here we're here to win a championship or go all season long just like twenty eight twenty nine other teams now the grass court tennis season gets underway this week with the queen's championship taking place in london britons are the americans looking for his third victory in four years the reigning champion begins the defense of his title against frenchman nicholas who on wednesday a persistent back injury caused a twenty five year old problems at the french open recently the scot was eventually beaten in the quarterfinals but says he is fighting fit ahead of the grass court season. well i mean a couple of weeks ago there was
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a pretty good. french open and. then want to. get a couple days off which for three and four weeks which really needed for my back and felt much better a couple of good prices on the grass and a cell phone. staying with tennis the annual legends exhibition here in moscow has been abruptly halted after a heavy thunderstorm managed to spoil the party russian legends you're going kafelnikov moderate suffering are in your lane and dementieva teamed up to play european stars such as goran even if martina hingis amongst your part army and it started off well with the men's doubles kafelnikov and suffering. but army beginning under the scorching sun before players even enjoyed a bit of tomfoolery on the court to the delight of the crowd but just after the russian jew were run out six two winners the skies opened to the whole.
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bit of a shame that one 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 for recently heading into the tournament fourteen time major winner tiger woods recently winning big in the morrill tournament for a big time while defending champion rory mcilroy was in contention until the final few holes this into classic last weekend a level of could be the fact that the course isn't used on the p.g.a. tour many none of the world's finest will be too familiar with the narrow tree lined fairways punishing rough and smooth greens the fairways get tight if you drop the ball if you feed the board a little bit wider. for you but in order to make very shifted you know if you hit if you hit into the rough it can happen that you can get a home into it and if you're in the rough it's very difficult to stop the ball in those. small greens also it's tough with a challenge but you know this is what you know and when you come here is going to
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be one of the most difficult weeks for your motor sport now in two time defending formula one champion sebastian vettel is getting a major head start on the competition for next year's american grand prix the german stopping by a new jersey to test out the new circuit which will be added to the calendar in two thousand and thirteen at 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 yet suited for f one specs vettel did manage to race in two thousand and seven which was the last time the event was held he was named a substitute driver for b.m.w. salberg. and finished seventh. monaco is very special for us has a lot of history etc but i think this race is going to be very very great and very soon will be one of the races that every driver wants to win no doubt and finally
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there's no more california dreaming for the los angeles kings the ice hockey side crowned n.h.l. champions for the first time ever darryl sutter is man doing the business in style in game six to win our four two overall a six one hurrying of the new jersey devils on monday raising nineteen years of painful memories ninety ninety three the last time they reached the finals losing to montreal the kings outstanding goaltender jonathan quick afterwards lifting the khans my trophy as the playoffs most valuable player. for that is all from the world of sport for now although there is plenty more later here on r.t. whether it's next.
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if you're following up on my field rather than this. sort of a throwback and archaic part of our law. and it goes back to a time when people would write out of their forces in the wild west and pick up
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a piece future dates and putting them into the sheriff for prosecution i don't think much company may well feel guilty. and when they go out there is cop weapons . and you have to hope that nothing bad can. get good. or we're chasing killers and you gotta keep that in mind how does it to me a dollar bill for his arrest. but not super hero he can be killed two of you know they shoot me in the head i'm going to die. and. once you hundred run you'll never go back to on anything else. the. comfort is the least you have. the money is the last that you need if you travel this way. language is common. you look at the. emotions are intense.
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i'd experienced crisis. please please please. please .

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