well with. its technology innovation all the developments from around russia we've got the future covered. you're watching the weekly here in our top stories now at half past the hour in the russian capital early exit polls suggest the prosperity new democracy party marginally ahead in the greek election almost neck and neck with the left wing syriza the euro survival is on the line as greeks choose between more cuts and leaving the currency union. u.n. observer suspended syria mission due to growing violence is both the regime and the rebels fighting on this is the syrian opposition it has repeated calls for military intervention in a country. that's for the post revolution future but many are disenchanted with the

choice between a u.s. educated is the mr and a former american official. that brings up to date for the moment here on r t next we chat to a man who says he saw the global economic crisis coming and the consequences of which are still being felt across the world that's our in-depth interview next. 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 institutions on corporates 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 contraries as opposed to india be the world's or bangs going belly up qantas having sold and risk in 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 to do the 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 these are all different outride the recession the eurozone that is call of the followed by government 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

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 there 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 and comic situations becoming so sustainable that they will exit. and i would say that it could be good for them as long as the exit is all of the only. means that then there are mosques in the known that actually called local believe that are still a good old historic set of ballance of who that be damage the bank's damage the savings of people in the banks and that's why they need more funding to make sure that it's not these old believe and the contagion of the rest of the eurozone is small there so if they could see it that way and it's fine and 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 the 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 in the thirty's well there is certainly a risk that the situation could become these or that in the eurozone like at these all of the early default an exit by. contagion with iran on the banks to meet dolly and spain then they lose market and then they eventually have to restructure the senate and that's not sufficient a few years down the line they also i guess that 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 totem all and then you could end up like japan with long terms like a nation if you hold another depression interest and all these things happening at the same time maybe out of the low probability by the saudis who have to conserve. there's a chance that the europeans get their act together and while the being number of

years of. fiscal condition are bad and surely you have more integration more of a fiscal union and more of a banking union that will proposition eventually probably you're 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 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

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 view 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 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 euro zone problem is because of lack of fiscal discipline or fiscal reckless that is that applies really the only only to greece yes it's a reason to lie than cheat that there 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 led to the problems of having to bail out the banks large their fears 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 of several of them where the binocular by excesses in the private sector because of poor regulations provision of the bank of system the character of a real estate then a. 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 in the house 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 from us is that this is something the european central bank is unwilling to do because the u.s. dollar still has a say so before and demand of china and the rest of emerging market is financing

the large us. and current account deficits. and 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 action next here or whether it's going to be a president starting a plan that leads to fiscal discipline of fiscal consolidation to be part of the what the u.s. has to do you know order to avoid the risk of something bad happening to us you know better later in the u.s. than other companies 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. happens with the u.s. dollar tween us fiscal and current take on that said by the realities for now there is not. the us dollar that's why people are still in this limbo on the second question in the last year of the euro. close that one fifteen i'll go to one twenty five you know the old skull and financial problem that it's been over breakout that the u.s. should weaken and is likely to weaken the only thing that could never be stopped that we cannot solve the eurozone is either a us economy comes so weak then the dollar weakens and the fed and pretty small me and then weakens the dollar or that finally the european get their act together that fund the ground leads to a banking union doing and that mattel has a show restoring girl. and the other thing is that the restore hope that they 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 this throng growth economies the world of being an emerging markets until recently the brics but that i was told some of the rising. turkey. 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 sitting in brazil in part of this because europe and you are sort of slowing down if not constructing but in part is because many of these companies are move their way. to form the floors of all the low growth companies about a further two as a state that he's too much government intervention they call on me too much of all

of the state owned banks then all the enterprises too much protection is too much of it and over time that's a negative because it's going to slow down potential growth it's going to lead to lower the long run become a grown up more of the brics are actually growing in their own 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 your prize in this side the not the time the g eight summit because he said he was busy creating his own cabinet there was a bit of a strange thing to do like a snob you know in the case of the point is you know russia's potential growth to date based on the statements by the with the comment 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 a you know not as much market oriented there was through a forum you have aging of hope. there is a certain amount of lack of transparency that is the amount of co-op shown. in the political 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've got i've got a regime which is not pugilists affair but then having a stronger column in this thought on policy framework means 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 the stocks rather than and heading into a severe financial crisis i think that's the lesson thank you thank you very much mr leisure being reviewed. if you're followed up on my death you'll go to the. chinese are sort of a throwback and can't part of our long. and it goes back to a time when people would lie down in their forces in the wild west and pick up these fugitives and putting them into the sheriff for prosecution there's no one thing like company may owe. you money and when they go out there he's got weapons. and you have to hope that nothing bad. will it.

but we're chasing killers and you gotta keep that in mind others that to me a dollar bill for his arrest. but not super hero he can be killed to you know they shoot me in the head i'm going to die. and. once you've had run you and i will never go back to hunt anything else. wealthy british signs on some time with. market why not come to. find out what's really happening to the global economy

with mike stronger for a no holds barred look at the global financial headlines tune in to kaiser report on our. top stories this hour the exit polls suggest the pro. new democracy party marginally ahead in the greek election going almost neck and neck with the left wing series or the euro survives on the line as greeks choose between more cuts and leaving the currency the. un observers suspend the syrian mission due to growing violence as both the regime and the rebels fight on this is the syrian opposition leader has repeated calls for military intervention in the country. and egyptians cast their final ballots for their post revolution future but many are disenchanted with the choice between the u.s. educated is a must and a former mubarak official. with a new state with more news stories for you in fifteen minutes from now in the

meantime paula is next with the sport. thank you very much bill welcome along to the world of sports here is what we go for you. russia arrived back in moscow after a surprise one nil the fifth to greece in euro two thousand and twelve which saw them eliminated in the group stages. crash course and davidson who walks away from this collision leave them on twenty four hour race as audi dominates with a one two three on the podium. the only square miami and oklahoma prepare for game three in the n.b.a. playoffs finals with the series title one with the papers. let's start with euro two thousand and twelve where it's time for the decisive round of games in green bay and all four teams can still reach the quarter finals both games are kicking

off similar tenuously ukraine on that matter of seconds old and hard give struggling holland no anything other than a two goal victory over portugal will see them knocked out in the group stages for the first time since one thousand nine hundred eighty. eight has made three changes from the side that lost to germany last year on huntelaar rafael van der vaart all start a draw for portugal is enough to see them through. while the dutch are also needing their old foes germany to do them a favor if netherlands get their necessary to go away and then they need to hope the germans being denmark talking last minute cover he said top of the table with two wins from two matches but can still be knocked out if they lose a draw is enough for them to reach the last eight. while russia already out of course to count recounts man suffered that surprise one no loss to greece on saturday all correspondent richard run poorly analyzes what's next for russia. russia's interest of european championships ended for another four years straight crush side of euro two thousand and twelve after

a surprise defeats agree. he's managed to beat the russians on a goal to nil it will seoul has been a strange goldman from russia which started so well before one victory against the czech republic in the role swallowed by the show's make simple goal playing free flowing football which really call the czechs off guard and off of my game russia retire which is wonderful you brits perhaps when they stole the men's things would jump or to get progressively worse fate played out i'm ok performance against poland the full the greek catastrophe which so russia crushed out of a tournament. goal where does the blame lie all i can squeeze for instance i had twenty five shots at goal but good to fail to scroll all the exam the kids were called hired a full jean charles to the hole to lament but yet failed to get even one on song gets quite a few of the big name players really failed to turn up against the greeks in a final much andrea shaaban opera brights opening was very quiet ballroom one sure all cut was excellently handled by the greek the fans so we're now for the russian

side well will have to find a new head coach travel off the deck of the cards had been he'll state down off to the told him and finish is who they'll turn to well it's not really all known at the moment so badly to get science is being touted as a possible successor and of course he'll know the serious car plays him aside specially alan's aglow is who had a fantastic coleman scoring three goals and he will really be before chroma this new russian side but russia came into its old men with the oldest team out of over sixty nations competing and over next few months i think quite a few of these players will retire and it's left to see how many will be competing when because occasion campaign takes place to try and qualify for the world cup in brazil in two thousand and fourteen a very much from now it's going to be a process of rebuilding from the russian national side as a lot of the old are gone or time or some of maybe drop some trying to bring in a younger generation of players but this is where perhaps russia's biggest problem

lies there aren't that many. younger players who are knocking on the door ready to get a starting spot in the russian national team take out the caps policy was says stick with the old guard so conceding so well and help the russians gets beside me finals and also in switzerland four years ago but with so many other players around for thirty years old there really is a need for new blood times i think a lot of those hopes will be resting of course on. who had a really fantastic coleman's goal of the massive disappointment russia heading home much earlier than they have wanted so you've ever so much exception after the game with the czech republic but unfortunately they just couldn't play to the same level of a very did a mad opening game bell going home early richard. warsaw. while russia's fate was sealed by the czech republic poland one nil to claim top spot in group eight the church with the goal in the one side the czechs and greece progressed to the last eight. now staying with euro two thousand and twelve in

england can recall wayne rooney for tuesday's crucial match with co-hosts ukraine the manchester united striker has been suspended for the first couple of games after being sent off in qualifying but he's played down fears over his temperament . what happened was a mistake in the poll just in the guardian you know we. have paid the place. of of how to take a. look no problems with my attitude of no problems with the temperament and i'm happy to play. to the greens now where it looks set to be a nail biting and the second major of the go figure linda graeme mcdowell and jim furyk sharing the lead following day three at the u.s. open the even the course in san francisco is regarded as one of the toughest tests the sport has to offer and for one of the overnight leaders is. tiger woods carving a full six bogeys to life five shots off the laid the only players to actually make

power work the latest american felix one told me years ago looking good with a birdie on the seventeenth while another former champion is northern irishman mcdowell recaptured some of his two thousand and ten form to share the lead with fewer on one on the par shot of the day that came courtesy of a man playing in his first ever major jump into the hole in one on the thirteenth certainly. now to tennis and roger federer his preparations ahead of wimbledon have been dealt a blow the world number three has suffered a surprise straight sets defeat to german tommy haas in the gerry weber open in germany federer is a five time champion and went into the finals overwhelming favorite against a man competing in the tournament after being given a wildcard entry to the former world number two now eighty seven in the rankings now only to set on a tie break before wrapping up a seven six six four win in just over an hour and a half even though i was so focused mainly worried about my own thing and that is

the try to play extremely well in order to win this match and i really can't believe it that it is. a real drama queens over in england david nalbandian was a set up against marin chile in the final but in frustration he kicked an advertising hording injuring a line judge he was immediately disqualified handing the title to his croatian opponent. now in moto g.p. who has won the british grand prix to extend his lead over closest rival casey stoner to twenty five points in the current standings the spaniard who started from on the great overtook the reigning champion with no. never looked back gradually increasing his advantage in the final few laps stoner held on to second spots with his honda losing more than three seconds to the winner of the australian teammate dani pedrosa completed the podium in the same trio top the current standings in the same order. which made. a wonderful fight.

fortunately for us i thought i got a little bit of banter in my pace so it's wonderful we are making. something now so i must things a lot to the world of. now it's a major sport of a different kind and there was a dramatic conclusion to the lamont twenty four hour race audi dominated taking all three places on the podium the same were able to successfully defend the title they won it twelve months ago the victory was a first for hybrid powered car the second team lived up to their name and came in just behind their teammates while now the car also came in however the real drama came in our six when anthony davidson spawn into a barrier following a collision with ferrari's appears you said he paid his ini davidson and got out of the car and i did and was taken to hospital tests revealed breaks to his vertebrae although he is expected to make a full recovery. of the basketball where the n.b.a.

finals series between oklahoma city thunder and miami heat was huge on sunday night the best of seven series now moved to miami the next two much is it's one one with the hate picking up a vital away when you know in game two erik spoelstra men are running out one hundred ninety six winners the bron james the top score for the heat with thirty two points. for that is all from the world of sport for now but i'll be back in a little under two hours time with plenty more here and i'll say weather is next. the. comfort is the least you have. your money is the last you need if you travel this way. language is common. and the.

emotions are intense. i'd experienced crisis. if you're followed up on my field one of the. names are sort of a throwback and archaic part of our long. and it goes back to a time when people would write out of their forces in the wild west and pick up these future dates and putting them into the sheriff for prosecution i don't think much company may want to kill people. and when they go out there is cop weapons. and you have to hope that nothing bad can. get good.

but we're chasing killers and you gotta keep that in mind others that to me a dollar bill for his arrest. without superheroes we can be killed to you know the head i'm going to die. and. once you've hunted men you know never go back to hunt anything else.

wealthy british style holds a spot on life. in the. markets financed scandal find out what's really happening to the global economy for a no holds barred look at the global financial headlines tune into cars a report on are today.