welcome back here with r t here is a reminder of the top stories of the week people of greece have to the polls for the second time in two months to decide the country's future was their choice impacting the entire eurozone they are left with two options to side with the stereo or to revolt against it the move which could ultimately spell greece's exit from the euro. the united nations' peace plan for syria is near collapse as observers say it's getting too risky for them to continue their mission violence this is moscow denies u.s. claims that a russian military cargo ship is on its way to syria with weapons and troops. and

in egypt activists say the revolutions in jeopardy are boycotting the going presidential poll after the military claimed all branches of power for itself as long as to is facing off against mubarak's last prime minister with critics saying neither man's a champion of change. or next hour he talks to the person who predicted the global economic crisis the consequences of which are still being felt across the world. mr b. 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 are we in the middle in the beginning or maybe there's light at the end of the tunnel and the krises more of in

two thousand and six was a problem of too much leverage of the private sector households bangs financial institution and some corporate now as a result of the response of their krises discuss the memos bailing out banks and others over their massive surge in public that and that sits and now there is a risk of conferees as opposed to in the be the world's or bangs going belly up qantas having solvent risk and the faltering as already happened in greece and unfortunately when you have to watch private in public that it takes a long time up to a decade or two to be leveraging that means to supplant elias to save more to reduce that over time and that implies a more economic growth high unemployment rate and some degree of social and political instability and happiness so we are able to i would say. you know this slow economic growth difficult outcry that

a session in the eurozone that is call of a followed by government 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 euro zone i would say that you know by next year and i would say that is at least a probability did they greece exit the euro zone thinking about actually even if they like not in june a new government is going to try to get a forum in that it can all mix elections 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 of the only. means that then their. own that actually called local believe that a store good old historic set of ballance be damaged the banks damaged the savings of people in their banks and that's why they need more funding to make sure that payson all these old believe and the contagion of the rest of the eurozone is mol this so if they can see it that way and it's fine i said these are 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 the peripheral europe also doing the same following its example do you think we might be going back to the so-called economic dog cages 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. contagion with iran on the banks they made early in spain then they lose market and then they eventually have to restructure the and 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 financial turmoil and then you could end up like japan with long terms

like a nation if another depression interest all these things happening at the same time maybe out of the low probability but there's a risk we have to conserve our selves there's a chance that the europeans get their act together and while being number of years of. fiscal condition about and surely you have more integration more of a fiscal deal you know more of a bank you know that what is asian eventually probably you're doing and so instead of these integration 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 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 there's no choice because that is integration with imply economic and financial damage and even in germany i alone in the world economy without a rising power like china or india. or existing superpower like us could be economic and i just made it so somebody who is 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 dia 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 reckless that is that applies really the only only degrees c. has a reason to lie then that this is a fifteen percent of g.d.p. . deficit blow up and then that led to the fiscal crises but actually in spain in

the island was the private sector that the venture led to the problems of having to bail out the banks large their physical rate that 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 prevented 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 realize they then a. that and a credit 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. i don't think there would be a fiscal cries in the us 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 european central bank is unwilling to do because the u.s. dollar still has a currency so therefore in the manned of china and the rest of emerging market is financing the large us. and current account deficits. they could should be complacent over time if the u.s. were not to deal with his own fiscal problem because a lot of the lyrics then local even as eventually you could have a fiscal train wreck or a sudden stop of copy and then financial tomorrow could happen the united states that are for whatever is the result of the election next theater whether it's going to be a president starting a plan that leads to fiscal discipline or fiscal consolidation to be part of the what the u.s. has to do you know to avoid the risk of something bad happening he was. later in the white house than other contraries but it 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 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 with the u.s. dollar that tween us is going to take on that say by the realities for now there is no. dollar that's why people are still in this limbo on the second question in the last year of the year was. close that one fifteen i'll go to one twenty five you know the old skull and financial problem that it's that all the breakout that the euro should weaken and is likely to weaken the only thing that could maybe be stopped that we can as of the eurozone is either the us economy come so weak then the dollar weakens and the fed pretty small me and then weakens the dollar or that finally the european get their act together the fight in the ground

leads to a banking union doing and that i'm told is a show restoring girl that. and other things that are stored hope that the eurozone is going to stay together in which case you. were among the main downside risks to the global economy you mention of course very slow economic recovery where do you see the new tigers and and what is the present role of brics nations strong growth economies the world of being an emerging markets until recently the brics but that always sold some of the rising power as you know of turkey or indonesia 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 there is now a slowdown of growth you see it in china see iran 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 companies are move their weight. to form the floors of all the low growth companies about a further two as they state that he's too much government intervention they call on me too much for all of the state owned banks they know the enterprise is too much protection is too much resource nationalism and over time that's a negative because it's going to slow down potential gold it's going to lead to lower the long run we can all be grown up mordred about the brakes are actually going in the wrong that actually in the next few years that's a risk that we have to. say that 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 the will never be included into the g eight if it continues with its with its basically protectionist policy when you know in the g eight you know all your prize in this side the not the kind the g eight summit because you said he was busy creating his own cabinet there was a bit of a strange thing to do with like

a snob but you know in the case of the briggs the point is you know russia's potential growth to date based on the statements by that put the governor of your central bank is three and a half percent of the time i mean the recently were growing eight nine percent now they are slowing down so you have a low potential girl that where there is you know not as much mach of the there was three. aging of population there is a certain amount of lack of transparency that is such that amount of. their. tendencies in the party got system that is institutional weaknesses of course that also is things you know or a source is good skilled labor force is allowed to three could they play an important role in the global economy by the thing that the important role of 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 flows of course i'd go with the regime

which is not pugilists affair but then having as strong a column in this thought on policy very much brains that even it wouldn't times are bad then shocks would call from the rest of the global economy you're going to be able to back that up sort of those chalks rather than and putting into a superior financial crisis i think that's the lesson thank you thank you very much mr a pleasure being with you. the. comfort is the least you have. your money is the last you need to if you travelled this way. language is common. you keep still and the.

emotions are intense. and. i'd experienced priceless. they. say also. he believes it's.

good to. see. people of greece had to the polls for the second time in two months to decide the country's future with their choice impacting the entire euro zone they're left with two options to side with the staring or to revolt against the move which could ultimately spell greece's kinds of problems in your own home. united nations peace plan for syria is near collapse as observers say it's getting too risky for them to continue their mission and minutes claim violence this as moscow denies u.s. claims that a russian military cargo ship is on its way to syria with weapons and troops. and activists say the revolution is in jeopardy and they are boycotting the ongoing presidential poll after the military claimed all branches of power for itself as

long as it is facing off against mubarak's last prime minister the critics saying either man's a champion of change. or sex with the u.n. and. would certainly seem the good bad and ugly of russian football over the past fortnight we certainly have it's been a topsy turvy two weeks but going from probably the best performance all the the tournament for want to give the czech republic to one of the worst last night the they fail to break down greece they are not only the flight home or not coming up in just a sec. thanks for your company this sunday here in central moscow this is sport today plenty have including all this. early and russia's football team crush out of the european championships in their group stages following defeat to greece who themselves

reached the quarter finals against all odds. tied up the top primack goal and jim furyk sure of the lead heading into the final day of calls us open. a magnificent seven roger federer purge for his seventh gerry webber open final appearance for donning russian mci usually in the last. rush hour it's all of the european championships adik of accounts charge is needed just to draw against greece to progress into the quarterfinals from group a last night but as richard von portrayed told us that immediately after the game the thumps well it's a stretch too far. for sure our service has been twelve in championships all for an incentive to play against greece while the greeks have one thing that they want to do not just offended numbers and try to get russia on the counter-attack i mean play a big game plan work around certainly treat on the sort of half time there are no speech in the russian defending so why are they going it's a free run on mouth is and is shot from the back of an attempt to get the greeks to

lead russia hunt played by rivet in play well even they just weren't able to create anything in attack to be honest i'm not one major major problem the longer game went on russian made for shooting for the greek defensive play was just absolutely fun times that they gave russian no to spain swan so whenever you really want to just get credit for greeks the way they played they were able to hold on to the turning the hundred and i go i was of atonement to the czech republic they were able to beat potent by a goal to nil. really really depressing scenes really for the russian players are told and have thought it so well but unfortunately they are now under a storm and. was richard mentioned russia his fate was sealed by the czech republic to be pulled in long until the came top spot in the group peter you're a chick with a goal in that one and joining them in the quarter finals are greece the two thousand and four champions started today bottom of the table while russia were pop

but what a difference ninety minutes can make. meanwhile there's a martha watering pair of group b. matches later on sunday they could see the netherlands and then eliminated in the group stages of the european championships for the first time since nineteen eighty k. partridge reports from hockey. holland versus portugal rotterdam october the sixteenth one thousand nine hundred ninety one a year or ninety two qualifier richard viguerie gets his priceless first and last international goal as the dutch winning one mil to go through to the finals this was the netherlands only win to date against portugal and on sunday bertrand excite have to score at least two goals more than their bogey side to stand any chance of reaching the knockout phase of euro two thousand and twelve after finishing runners up at the world cup the dutch breezed into this summer's tournament as one of the favorites but a short one nil opening defeat to denmark being outplayed two one by old foes

germany means the irani have lost their first two games at the euros for the first time they now face a do or die last game in the group of death and hope germany do them a favor by beating the danes. christan a row now though isn't portugal's only threat is everyone knows they have a lot of other good players their team is also well organized which is a huge advantage to the dutch one only one of the last ten meetings with portugal and failed to score in the last six while forty six shot so far in this tournament with a return of just one goal is a damning statistic with the necessary to go cushion in mind that might start with clash on huntelaar who scored twelve goals in qualifying and ruffled under van't as the dutch go for broke the code of the show is that of the difference is that we're left with only one game and when it comes down to ninety minutes anything can happen meanwhile portugal are fully fit and historically blessed they're the only country in european championship history never to have crashed that in the group

phase and all of those ten encounters with the dutch they won six even more worryingly for holland is the fact they're on the verge of losing three straight matches for the first time since one nine hundred ninety and the country that inflicted that sir defeat on them one will result in the european qualifier portugal but current coach paolo bento is aware that historical success doesn't equate to future results. i wouldn't be here if i didn't think we can win them we will use an attacking strategy for the entire ninety minutes as there is hardly another way for us to win everything will come down to the quality of our game and the execution order i think that the result will be favorable and then we can concentrate on the next stage portugal's prospects of progressing from group they are much brighter after their late three two win over denmark they only need to better the danes results to reach the last eight though some defensive

frailties could be exposed by the dutch this could be counted if captain christiane iran now though finally reproduces some of his scintillating domestic for discipline scoring forty six legals for real madrid last season known as his ten attempts so far in this tournament and found the net the dutch media savaged the national side after the two one defeat to germany and no country has ever reached the knockout phase after european championships after losing the first two matches but as an england proved against sweden well besides can be beaten maybe the dutch can make that a double a partridge r.t. . meanwhile germany have said they'll have to beat kurth against denmark on saturday the spike needing only a draw to finish top of that group be the german soul in their final training session in the fall of on saturday while they topped the table currently could still go out of the competition defeat by more than one goal against the danes on victory for portugal over the dutch would send them home early russia last night.

many possible permutations in group b. the easiest way to explain it though is that all four teens can still reach the quarter finals though germany portugal only need draws to see them. let's leave behind a move to the greens where we look set for a nail biting in the second major of the golfing season graeme mcdowell jim furyk sharing the lead following day three of the us open. the a limpid course in some francisco is regarded as one of the toughest test the sport has to offer and for one of the overnight leaders it certainly lived up to that mantle tiger woods carving a full six bogeys to life five shots off the pace however the only players to make par with a leader in fear rick who won the u.s. open nine years ago looking good after a birdie here in the seventeenth while another former champion northern irishman mcdowell we captured some of the twenty ten for him to share the lead with fury on one under par shot of the day though came courtesy of this man playing in his first

ever major pietersen hole in wallman the thirteenth something tells me you'll be remembering no. one after tennis now roger federer has reached his first final on grass this season the swiss rushing rushes mikail youzhny in straight sets at the jerry webber open to set up a showdown with the local tommy house federer making this one look simple taking the first set six games to one before winning out six four in the second for the match federer has not been youzhny in all thirteen of their meetings he'll enter as fear for it in the decider. there he'll face a partisan crowd after a local man tommy haas claimed the spot in the final the german winning a semi against philip in straight sets seven five six. seven hemisphere rugby nations once again demonstrated their superiority over their northern country

parts and suffered a world champions new zealand getting the ball rolling in christ church the first of march there since the twenty eleven earthquake the all blacks demolished arland in the first of their three tests last weekend's but the visitors were certainly up for it this time around taking a ten zero lead at one stage in the first half thanks mainly to conor murray's try new zealand though didn't lie down and got right back into it through the boot of don carter the kiwis but then take the lead for the first time right after the. break are in smith the man pulling over forty three minutes in. it was touch and go from then on in with the scores tied at nineteen all in minutes from time but huge amount of the match carter to break irish hearts his drop kick ensuring the weight must go on for hours and to register the first ever win over the all blacks twenty two ninety the falls. so the africa meanwhile sealed the deal in their test series with england so will i'm alert soaping the scoring after a mix up in the english from the springboks dominating the first half going in at

the break twenty five ten up this tri from bismarck duplessis their second of three in the opening forty minutes in and hit right back in the second period though toby flood in particular to the for the home side would hold on for a thirty six twenty seven when the springboks the spinning and again in game two off their three much test. an even more thrilling finale in melbourne as a street beat wales george north starting things off for the visitors with a try just three minutes in rob horne however help rally the wallabies with the home team going in at the break thirteen seven of the six nations champions that would lead twenty three twenty two minutes ago but were penalised for collapse in the scrum half to lard michael horace to step up unconfirmed a penalty for a twenty five twenty three final stop. for fell before just under two hours time with more next year and twenty four hour.

world. series technology innovation all the latest developments from around russia we've got those huge earth covered. movie. more news today violence is once again flared up if these are the images the world has been seeing from the streets of canada. trying to corporations or on the day the be. cool.