this is coming to you live from moscow the headline. on american trade blogs argue whether paraguayan should be isolated in the wake of last month's ousting of president fernando lugo aussie's punish language channel talks to the deposed leader in his fast major interview since being system. also the warning to the syrian rebels and regime that they face consequences if they don't stick to their peace plan as the un and boy urges the security council to get them to out here kofi annan also says president assad has discussed with him the forming of a transitional government. and rubber bullets fired at thousands of protesters

marching across madrid who support coal miners angry at mounting cuts the government attempting to save sixty five billion euros in return for the e.u. backed by a loud. pop next nobel economics in the orator edward prescott explains why the banks are getting more and more irresponsible and this single currency his days are numbered. nobel economics laureate course there's the euro. america will have a joint collapse much bigger than in two thousand and eight mr prescott let's start with the euro was it dead in the water and if you have. for children and give more credit cards. but tell me that they have to behave responsibly and one of them does. what.

is going to be problems and that we have to sort of cut out that it's analogous to the subprime mortgages which made it was not beneficial to either side but the government wanted to foster home ownership pretty much set up a bad system the problem for the germans and the french to somebody they should not run to. and somebody who should be borrowing them was the matters should not of the borrowing should when people monitoring the market should let their corporation in the usa have some big ones and they've got many of bankrupt and the old people vote. the old people want the place to say so the french and german governments said to the banks in the banks or do them do with all this money and they said well you know what has greece. i think there's

a good chance of the following i do not think there will be. an economically. in. a major event. the disruption will be very short but you know some of the states in the united states one bank one in eight hundred forty the federal government did not bail out the states. and those not a major disruption in real output and the point they make oh by incompetent the fall and stay in the euro zone but the euro may just completely. collapse it's not the advantages to having it's injury more than symbolic it's true that it's convenient for the poorest when the movie tween the states and. countries that did not enter your old. have done as well or better. than those that.

did it didn't seem to be a big. positive benefit to. the members the ones that didn't join you know are sweden. denmark and the united kingdom one of the reasons why the euro has failed there just retired such a young age there just now. and make promises to the citizens which you can honor that's bad no question will get upset when. promises are not on the western europe has no choice except to reform and they have started to reform. effectively cut their tax rates they've privatizers saving system along the lines. of australia and this is an effective tax reduction. the about the the europeans are

working has gone up a little but they've raised the retirement age. at a little bit slower phasing some of this in this very little discussion of how you actually leave the euro as the economist are you saying it's could you could you lay out the steps to issue some of your. own currency. there will be debts determined in europe and now well in the euro's to people in other countries and they'll be. a lot of legal actions. to settle there one of the countries to fall i suspect agree business is. the money a lot of it out of greece and in your accounts. more stable countries was using this crisis to grab more powers from national governments how does that make things even worse dangerous centralization. chinaman.

and from. one thousand thirteen hundred it was the richest country the most advanced they had gone and. they had done much better than europe and they were by far the leader but then they under the main dynasty they had centralized and then they started preserving the status quo. the provinces lost their power they organized the censor that was the press the were an institution set up to criticize the government within the government which is an unusual rage but it worked to make them see got rid of that and then technologically aggression said it there few people from the other end of the euro asia landmass came and humbled by a great empire was the us economy doomed to fail and what will happen they haven't got rid of the too big to. fail problem. we get real big

people know who lend to these. financial institutions know that they will be bailed out. or expected and therefore the institution can borrow at a low rate they get to use institutions and the banks to be other groups of people that have this operate this this is a prize called the bank i get scared with the washington new york connection sort of government likes a skeptic avers out to certain people and then get big contributions there will be some bankruptcy be some major intervention by the fed. to avoid. having to call bank run systemic risk everybody wants to get their money out they come close to having that problem now in greece but it may be the rational thing to do how would this collapse compare to two thousand and eight subprime crash i don't think the two thousand and eight was that big not as big as the savings and loan

crisis there are these the federal savings and loan deposit insurance corporation bankrupt in the government have to step in and take the assets of these companies and the deposit. in and sold these assets and make it was brought in was eight percent of g.n.p. eight percent of current you have. a big number it's a trillion dollars that's over from here and then they sold that off they were got six percent of g.n.p. back in the taxpayers made up the other two percent there was some hidden tax fact of tax increases in that at that time they were the big banks of hidden ways. that we always have a market there's should be a good separation between the state doing its job and the various agencies the fed should be independent statistical collection agency should be independent and i

would say the funny and. business sector should be. separated so america hasn't actually two thousand and eight bank and credit issues. in one thousand i believe was sixty we did not have credit cards they had to pass some special legislation and that and then the water and over time they become quite bored. you can get about six or ten of the introductory offers that free well interest rates and people just pull them over some of the real say was financed that way as long as the price of real say was going up these people did great. but things can't keep going up and that's only how much. to blame for the mess the world economy is on not sure why even we even need banks with enough fractional reserves why we need institutions borrow from one group of people in very short term demand and

lend a little bit longer. much longer. working on the problem of financial reform the us is going to have a financial crisis in the not too distant future the dodd frank bill was poorly designed but i want to be ready when the next crisis comes with a good system i've been fostering people to work on this problem of designing a better financial system that doesn't have this risk when they get too big to fail that's. and who ends up subsidizing taxpayers. one needs of spear time to obtain inner peace and the spirituality.

craftsmanship and creativity requires special conditions. are met accuracy and knowledge are the attributes of solitude here. those who are behind bars good freedom of self-expression.

nearly a billion people in the world are knowing from greece every day. in the united states even our trash cans are filled with food you just have to go get it all of these perfectly good eggs because one was cracked didn't even get all over the other ones just thrown away rotten cheese from the german alps you clearly like. a profile. from the dumpster at one am this morning three pm this afternoon on the grill a cake is made from and one dozen dumpster egg whites. and delicious breakfast for the family make some toast for about a week every year in america we throw away ninety six billion pounds of food.

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question. dot com. the top stories are nasty on american trade blogs argue whether paraguayan should be isolated in the wake of last month's ousting of president fernando lugo oxys clannish language channel talks to the deposed leader in his first major interview since being still stuck on. rubber bullets fired at thousands of protesters marching across metry who support coal miners angry at mounting cuts the government to the tempting to save sixty five billion euros in return for the e.u. funded bailout. the warning to the syrian rebels and regime that they face consequences if they don't stick to the peace plan as the un envoy urges the security council to get them to adhere kofi annan also says president assad has discussed with him the forming of a transitional government. while things are getting more exciting as paul is here

in the studio with his four. thank you very much welcome along with to the sports headlines coming out. corruption football's governing body confirmed two former high profile members including ex-president john havelange received nearly twenty two million dollars in potential bribes. pedal power frenchman thomas for clan win states ten of the tour de france britain's bradley wiggins keeps hold of the overall leaders the yellow jersey. and the diving for gold our team makes russia's medal hopefuls in the sport of diving with the olympic games rapidly approaching. the though football's world governing body is embroiled in yet more claims of corruption fay for

admitting its former president shall have a large and expressivity and football boss ricardo tetchy at or receive payments from sell as fief as a former marketing partner a swiss prosecutor's report published by fee for shows the pack could have received up to twenty two million dollars before our cell went bankrupt in two thousand and one the swiss space company were regularly offered lucrative world cup marketing rights by the game's governing body ninety six year old have allowed him to speak for president for twenty four years between one thousand nine hundred seventy four and one nine hundred ninety eight. while new tottenham manager andre voiced by us has been speaking about his hopes for the new season the portuguese replace the sacked terry redknapp at white hart lane and says he wants to turn the north london club into genuine a premier league title challenges but admits they could lose influential midfielder luka moderate. the willingness is there from the from the player but you know it's . the play of this importance is it is not easy to part company with but you know.

i think the chairman is a person that respects the values of the of the football club and in only with the with the right offer we will take that step meanwhile following the departures of nicolas anelka and didier drogba to shanghai shine why the english premier league has lost another of its leading players to the top flight in china from everton in portsmouth strike a a coup identity has joined the twenty nine year old nigerian spent nine years in the premier league scoring one hundred thirty seven goals. here. which is really great. to me sort of. the story for. us all to see people. are a little bit is off the mark in the lives of. now to the tour de france where britain's bradley wiggins has retained the overall leader's yellow jersey although it was frenchman thomas voeckler who won stage ten in the york

a mountain after tuesday's tamal truest rest day which saw a frenchman over me do you could go to a arrested for doping offenses attention turned once more to the race to paris on thursday wiggins will become only the fourth great in history to wear the yellow jersey for four consecutive days he now has an overall lead of one minute fifty three seconds from last year's winner condell evans londoner finished three minutes sixteen seconds behind stage whenever a player can claim his stage when in ten years. now it's nearly a year since the horrific plane crash which claimed the lives of the locomotive jaroslava ice hockey squad the september tragedy felt throughout the entire sporting world with a swiss team now preparing to host a game commemorating those who lost their lives the close and flyers will team up with such names. and cover all chuck for a memorial item ogust the fourth the crash with the team on route to the opening game of the season in minsk killing forty four people which included the scores

entire roster and their head coach the three time russian champions have since been assembling a new line up for the return to the k h l next season. now the n.b.a. were recently crowned champions miami heat are resting on their laurels they've added veterans ray allen and rush hour lewis to their ranks for next season they claim their second n.b.a. championship last month with a series win over the oklahoma city thunder and they appear determined to keep hold of their title allen rise as the n.b.a. record holder for the most three pointers while his former seattle teammate lewis were nearly one point five million dollars from the move plus a buyout of nearly forty million from the new orleans hornets but the movie is about prestigious not money according to the hits president. if we could. you know in had the ability to pay all the players you know really what they're what maybe

they could get on the open market we would we don't have that capability so you know sharks you know ray people that are interested in coming here they know coming in what the situation is and so they want to be here because of i really believe because of the organization as much as anything in the air since and how they've set this whole thing up and they see a team that has an opportunity to be a winner in. this stage of their career this is you know this is what it's about well they hate not the only n.b.a. franchise have made a big name signing the l.a. lakers have snapped up two time m.v.p. steve nash from the phoenix suns they thought a year old point got a power and also had offers to move to new york or toronto the opportunity to play from one of the greatest franchises in professional sports the most decorated franchises. you know most wonderful cities in the. history an opportunity for for me to pass up now with the summer olympics just around the

corner we continue our look at those russian athletes hoping to bring back some silverware. reports on the country's medal prospects in diving a sport which used to provide plenty of medalists. the last decade in diving so cheney's athletes go from strength to strength both immense and women's can petition for their home olympics games in beijing four years ago they clinched gold in seven categories out of possible eight the rest of the world led by a russian divers that's left to wonder just how they could break the monopoly last year swimming world championships further evidence of the eastern dominance the chain is sweeping the opposition winning gold in every single discipline. the first week we try to be objective we should admit that to match china in this sport in the near future is virtually impossible our athletes can beat them in this or that discipline because they're still human and they can also make a mistake but in general i don't think anybody can challenge china. but support an

olympic sport in particular is where the unexpected does happen and of course russia's diving team will be just tourists in their upcoming trip to london two time olympic bronze medalist global pairing all of the picture many by will compete in the individual platform well the country's rising young talents he has a higher and unique is the tour will take the floor and to springboard events. i think that both myself and sergey have to get our hair the right first and foremost as mental toughness can become the most important aspect at such a big event like there lympics in the women's program russia will be represented by three earth lates beijing silver medalist unless the syrup is nicole over in the olympics debutant the dish the budget or individuals in both hopes one. will deter me to discipline you little to no will be seeking nothing short of bald despite being only twenty three no one silver at the two thousand and four olympics and

this experience will be on for years. but i think i can make the top three in london the competition will be excellent and tetchy victory seen i would have to carry out my program playlist i all know russia will have divers competing in six kids a good result of the eighteen. and with such a force to beat as china even one london medal of the highest value would be considered a successful outing. to europeans. now to baseball where san francisco has proven that they've got the star power to repeat their two thousand and ten world series championship success the giant slugger's melky cabrera. leading a eight zero national league demolition i want to learn technique selected the m l b all-star game the n.f.l. aiming for a third straight win at the mid-summer classic squad one nothing are connected with a three run triple the first binational play since two thousand and seven i all

pictured justin verlander the unfortunate victim of both of those efforts would go on to win m.v.p. on it in his first ever all-star outing the twenty seven year old converting a two run homer for the final eight zero scoreline. now finally to cricket where one of the finest working keepers of his generation has been forced to retire following a freak accident south african mark boucher rupture in his left eye after being struck by a bale the thirty five year old is the most capped gloveman in history we all know much as mentors as is as a person but i think it speaks for itself i mean i think he was in line to achieve his hundred fifty thousand dismissals in the game you know and so many other world records and. now if you add that to the type of person that he was you know he'll go down as one of the greats in the game and certainly one of the greats and so african cricket. but i think now we just more worried about mark a person and getting him through the situation. is over in the world of sport in

just under two hours' time with plenty more here on r.t. but the world whether it's next. well the true science technology innovation called the most developments from around russia we've got the future covered. more news today violence is once again flared up the for these are the images the

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mind. would be so much brighter if you knew about someone from funds to pressure.