can you. tell again this is all she the headline. on american trade blogs argue whether the power of white presidents really was a commute his first major interview since being still stand for an ingenue good cheese punish language channel but the people won't stand will they're sold on that democracy. a warning to the syrian rebels and regime that they face consequences if they don't stick to the peace plan as the u.n. envoy to the security council to get them to adhere kofi annan also says president assad has discussed it in the forming of a transitional government. and rubber bullets fired at thousands of protesters

march or across madrid to support coal miners angry at mounting cuts the government is attempting to save sixty five billion euro isn't written for an e.q. by playing. up next and about economics laureate edward prescott explains why they banks are getting more and more irresponsible and the single currency his days are numbered. nobel economics laureate. america will have a joint collapse much bigger than in two thousand and eight mr prescott let's start with. the water if you have. four children and give more credit cards. but tell me that they have to behave responsibly and one of them does. what. it's not.

because of the 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 a bad system the problem is that the germans and the french lent to somebody they should have won. and somebody who should be borrowing them was not as should not of the borrowing should when people monitoring the market should let their corporation in the usa have some big ones and many of bankrupt the old people vote . people won the place to save 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 gone wrong i think there's

a good chance. i do not think there will be. and economically. in a major event. the disruption will be very short lived 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 there is not a major disruption in real in the output and employment they may go by in the fall and stay in the euro zone but the euro may just completely. collapse so it's not the advantage to having it seems to be more of a symbolic it's true that it's convenient for poorest women who for tween the states and but countries that did not enter the euro. have done as well or better. 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 so just retired such a young age they're just not. and make promises to the citizens which you can honor that's bad in the course people get upset when. promises are not on the western europe has no choice except to reform and they have started to reform. the swedes 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 achieve leave the euro as the economist you think it's could you could you lay out the steps to issue some of your. own currency. there will be debts determined in europe in our world in the euro's to people in other countries and they'll be. a lot of little actions. to settle their one of the countries to fall i suspect the greek businesses. cads their money a lot of it out of greece and europe. more stable countries was using this crisis to grab more powers from national governments how does that make things even worse dangerous centralisation. china.

and from. one thousand thirteen hundred it was the richest country the most advanced they're gone. they're much better than europe and they were by far the leader but then they are 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 there were an institution set up to criticize the government within the government which is an unusual range but that worked coming down to see get rid of that and then technologically gratian said it there are few people from the other end of the euro asia landmass came and humbled their 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. to 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 so they get these 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 so the 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. 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. compared to two thousand prime crashed i don't think the two thousand and eight was big not as big as the savings and loan crisis there are these federal savings and loan

deposit insurance corporation going bankrupt in the government have to step in and take the assets of these companies and the. and then sold these assets and make it was brought in was eight percent of g.n.p. eight percent of current g.n.p. is a big number it's a trillion dollars that's over and then they sold that off they're only 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. at that time no bailing out they were the big banks that hidden ways. that we always have when you get 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. business sector should be. separated so america hasn't.

bank and credit issues. and one theme i believe was sixty we did not have a credit card they had to pass some special legislation and that and then the water and over time they become quite. given get about six or ten of the things that the introductory offers that very low interest rates and people just pulled them over some of the real say was finance 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 world economy is on not sure why even we even need banks with enough fractional reserves why we need institutions that borrow from one group of people in the short term demand and lend

a little bit longer. much longer. working on the problem of financial reform the u.s. 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 and they get too big to fail that's. and who ends up subsidizing taxpayers. nearly a billion people in the world we're going to. the united states even our try. ash hands 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 and she's from a german oh we have clearly like. a profile. from the dumpster at one am this morning three pm this afternoon on the grill the cake is made from and one doesn't dumpster egg whites. delicious breakfast for the family eggs and toast for about a week every year in america we throw away ninety six billion pounds of food. started. before going to local and now pulling fire.

log in. to the right of. choose your place take your stand. the movement. makes your statement. split the words. you point straight on line. one needs of spear time to obtain inner peace and spirituality. pressman chip and creativity requires special conditions. are met accuracy and knowledge on the attributes of some of the duty here.

those who are behind bars get freedom of salt expression.

wealthy british style. has moved on to the tide of the money. market why not. come to. find out what's really happening to the global economy with much stronger for a no holds barred look at the global financial headlines and to conjure reports on . the. line in motion would be soo much brighter if you knew about songs from phones to

crash in these. movies for instance on t.v. don't come. to headlines on aussie upon american trade blogs all the weather the current white president's removal. and his fast may dream to pieces being forced out on the new good tells us he's punished language channel but the people won't stand for that assault on that i'm. rubber bullets fired at the thousands of protesters macho concentrator who walks out to support a coal mine is angry at a mountain cuts to government as attempting to save attempting rather to say sixty five billion there is a written warning. on the warning to the syrian rebels and regime that they face calls. says that they don't stick to the peace plan will do and i'm for the security council to get them to i've been here content and also says president assad i've discussed that in the forming of

a transition. and right now paul is here i extend if you get with the latest polls . thank you very much welcome along with to the sports headlines here is what we've got coming up he fought corruption football's governing body confirm it to former high profile members including ex-president shall have received nearly twenty two million dollars in potential bribes. east and brawl david haye and derek chisora finally prepared to do battle in the ring as the british to i'll go head to head on saturday night. in the spring time our team mates rushes a medal he falls in diving with the olympic games rapidly approaching. firstly football's world governing body is embroiled in yet more claims of

corruption faith for admitting its former president joe havelange an expository in football boss ricardo taishi had a received payments from sellouts pfieffer former marketing partner a swiss a prosecutor's report published by fee for shows the pair could have received up to nearly twenty two million dollars before our cell went bankrupt in two thousand and one the swiss based company were regularly offered lucrative world cup marketing rights by the game's governing body ninety six year old havilland useful for president the twenty four years between one nine hundred seventy four and one nine hundred ninety eight new tottenham manager andre villas boas has been speaking about his hopes for the new season the portuguese replaced the sack terry redknapp at white hart lane and says he wants to turn the north london club into genuine premier league title contenders but he admits they could lose influential midfielder luka moderate. the willingness is there from. from the player but you know it's. a play of this importance is not easy to part company with but you know

. i think the chairman is a person that respects the values of the football club and only with the with the right of we will take that step now to boxing and the most eagerly anticipated known title fight of the year on saturday night former heavyweight world champion david haye takes on fellow brit derek west ham's upton park the pair hit the headlines earlier this year following choose or as world title loss two thousand in germany still in the post fight press conference leading to a brawl between the two the british boxing board of control with drew cheers or is license for his part in the cracker for the world boxing council have given him an indefinite suspension del boy is able to fight on saturday's the contest has been licensed by the luxembourg boxing federation hey meanwhile has come out of retirement for the clash and the rivalry between the pair remains as strong as ever . louis. look at me. if you look at you

looking down my face they look at me usually always the. just the look i look in the little everything is a little bit me as the easiest thing to do every day in my life trying to pass the a certain premisses. meanwhile i am a car has been reinstated is w b a light welterweight world champion the brit lost the title in a controversial points decision to mount pietersen in december however after be a ordered a rematch pietersen failed a drugs test in the bout was counseled by means khan's fight on saturday in las vegas against w.b.c. champion danny garcia is now a world title unification back. now to the tour de france where britain's bradley wiggins has retained the overall is a yellow jersey although it was frenchman thomas for clare who won stage ten in the

euro mountains after tuesday's to mulch us rest day which saw frenchman remi degree gaudio arrested for doping offenses attention turned once more to the race to paris on thursday wiggins will become only the fourth brit 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 when. he turned his third stage win in ten moves. now to the n.b.a. where recently crowned champions miami heat are not resting on their laurels they are valid veterans ray allen and rush are the lowest of their ranks for next season they claim their second n.b.a. championship last month with a series win over oklahoma city thunder and they appear determined to keep hold of that title allen rives is the n.b.a. record holder for the most three pointers while his former seattle teammate louis weller nearly one point five million. dollars from the marines plus

a buyout of nearly fourteen million from the new orleans hornets the move is about pre-stage not money according to the hints 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 show our you know great people that are interested in interning here and they know coming into the situation is and so they want to be here because. i really believe because of the organization as much as anything in the air service and how they've set this whole thing up and when they see a team that has an opportunity to be a winner in and the stage of their career this is you know this is what it's about well they hate all the any n.b.a. franchise to have made a big name signing the l.a. lakers have snapped up two time m.v.p. steve nash from phoenix suns the thirty eight year old point guard apparently also had offers to move to new york or toronto. the opportunity to play from one of the

greatest franchises in professional sports how the most decorated franchises. and what. 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 methodists. the last decade in diving so cheney's athletes go from strength to strength both immense in women's competition in 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 nastiest swim in the world championships further evidence of the eastern dominance changes within the opposition winning gold in every single discipline that the

government we try to be objective we should admit that to match china in a sport in the near future is virtually impossible for 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 along with victor many by it will compete in the individual platform well the country's rising young talent he has a higher up and you can accuse the tour will take the floor and the spring board events. i think that both myself and sergei 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 let's beijing silver medalist and us to see a person of color in the olympics debutant the dish the budget or individual screen both hopes well. 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 with the competition will be accident and set chiva tracy now have to carry out my program slowest rate when all russia will have divers competing in six gets you the result of the eight i'm all for it with such a force to beat as china even one london medal of the highest value would be considered a successful in. the europeans forty. now finally it's nearly a year since the horrific plane crash which claimed the lives of the locomotive jaroslav or ice hockey squad the september tragedy felt throughout the entire

sporting world with a swiss team and they're preparing to host a game commemorating those who lost their lives they caught and flyers will team up with such names as you have game. in the culture for a memorial night on august fourth the crash occurred with the table on route to the season opening game in minsk killing forty four people which included discords entire roster and their head coach the three time russian champions have since been assembling a new line up for their return to the k.h. next season. but that is all from the world of sport for now but i'll have plenty more for you in just under two hours time here on our take join me then but the world weather is next.

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sigrid laboratory was able to build a new most sophisticated robot which fortunately. found anything tim's mission to teach the creation why it should care about humans and. this is why you should care only. for the. science technology innovation all the news developments from around russia we've got the future covered.