live from moscow our top stories pan-american trade bloc argue whether the hard wired residents president bush should say removal was a coup in his first major interview since being forced out fernando lugo tells our language channel that people won't stand for the assault on their democracy. the warning to syrian rebels and the receipt that they face consequences if they don't stick to the peace plan the u.n. envoy urges the security council to get back on track here for piano it also says the president offered house discuss with him the forming of a transitional government. and rubber bullets fired at thousands of protesters

marching across madrid want jobs coal miners angry costs the government is attempting to save sixty five billion euros in return for an e.u. bank bailout. and that economics laureate edward proscar explains why the banks are getting more and more irresponsible and the single currencies 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.

going to be problems and that you 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 is that the germans and the french lent to somebody they should have one too. and somebody who should be borrowing them was not as should not of the borrowing should have been people monitoring the market we should let the corporation in the usa have some big ones and they've got many of bankrupt and . people vote. people won the place to save so the. french and german government. went to the banks and then the bank saw them do

with all this money and they said well you know why 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. 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 if not the advantage to having it seems to be more of a symbolic it's true that it's convenient for poorest women who feel tween the states and but countries that did not enter the euro. 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 or 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 and 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 there's very little discussion of how you achieve 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 little actions. to settle their one of the countries to fall i suspect the greek businesses. garden's their money a lot of it out of greece and in europe. more stable countries is using this crisis to grab more powers from national governments how does that make things even worse dangerous centralisation. china.

and. from thousand thirteen hundred was the richest country the most advanced they are gone. they have done 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 and it was not the provinces lost of power they organized the sensor that was like the oppressor were an institution set up to criticize the government within the government which is an unusual arrangement that worked coming down to see get rid of that and then technologically gratian said it there few people from the other end of the euro asia land mass 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.

they get real big people know who lend to these. financial institutes know that they will be bailed out. or expect it and therefore the institution can borrow at a low rate so they gamble 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 to sketch favors out to certain people and then get big contributions there will be some bankruptcy be some major intervention by the fed. to avoid. i think the calm bank run systemic risk everybody wants 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 federal savings and loan deposit insurance corporation going bankrupt when the government had to step in and take the assets of these companies and the deposit. and then sold these assets and make it was brought in was eight percent of g.n.p. a percent of current g.n.p. is a big number it's a trillion dollars that's over for you and then they sold that off there only got six percent of g.n.p. back in those taxpayers made up the other two percent there was some hidden tax fact of tax increases in that do it at that time no bailing out they were the big banks of 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 the statistical collection agency should be independent and i

would say the finance 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 a credit card they had to pass some special legislation and that and then the water and then over time they become quite important you can get about six or ten of them with the introductory offers the very low interest rates and people just pull them over some of the real say was finance the way it was long as the price of real say was going up these people did great. but things can't keep going up and that. only how much. to blame for the mess the world economy is in on natural law even we even need banks with enough fractional reserve sounds why we need institutions borrow from one group of people in the short term demand and lend

a little bit longer. for 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 the goods 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 them taxpayers. in full starting here. or going global and. it's my.

choose your place take your stuff. make your statement. put the work. you put the street. is that secret laboratory to mccurry was the building. most sophisticated robot which fortunately doesn't give a darn about anything tim's mission to teach music creation why it should care about humans and world this is why you should care only on the.

wealthy british style dogs. because. markets. come to. find out what's really happening to the global economy with mike's cause or there are no holds barred look at the global financial headlines tune into kaiser report.

you know how sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else and you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom harkin welcome to the big picture. there hasn't been a thing good on t.v. . it is to get the maximum political impact possible.

before source material is what helps keep journalism honest we want. we want to present. something else.

artie's top stories pan-american trade blocs argue whether the president's removal was a coup in his first major interview since being forced down fernando lugo to spanish language channel that the people won't stand for the fall of their democracy. rubber bullets fired at thousands of protesters marching across madrid who want to see more coal miners angry a mountain the government is attempting to save sixty five billion euros in return for an event ballot. and a warning to syrian rebels and the regime that they face consequences if they don't stick to the plan as the u.n. security council is urged to get them with here. and also says president also discussed with him formation of

a transitional government. and now polls here with the latest. thank you very much and so welcome to the sports headlines here's what's coming up . corruption football's governing body confirms two former high profile members including ex-president john havilland received nearly twenty two million dollars in potential dry. a stand brawl with david kay and derek cheers or are finally prepared to do battle in the ring is that which is to i'll go head to head on saturday night. bring time our teammates russia's medal hopefuls in diving with the olympic games are rapidly approaching. but first they football's world governing body is embroiled in yet more claims of corruption faith admitting its former president john have aligned and x.

percent in football boss ricardo taishi had to receive payments from cell thief is a former marketing partner that's what prosecutors report published by fee for shows the packet ever saved up to twenty two million dollars before i a cell went bankrupt in two thousand and one they switched based company were regularly offered lucrative world cup marketing rights by the games governing body ninety six year old how to rounders future president for twenty four years between one nine hundred seventy four and one nine hundred ninety eight meanwhile new tottenham out of john very biased by us has been speaking about his hopes for the new season the portuguese replaced the sack harry redknapp at white hart lane and says he wants to turn the north london club into genuine premier league contenders but admits they could lose influential midfielder luka moderate. the willingness is there from. the from the player but you know it's. a 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 football club and and only with with the right offer 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 chisora a west ham's upton park the pair hit the headlines earlier this year for injuries or is a world title lost to the tally klitschko in germany they stormed the post five press conference leading to a brawl between the two the british boxing board of control with drew cheers over his license for his part in the krakow of the world boxing council has given him an indefinite suspension del boy is able to fight on saturday as the contest has been licensed by the luxembourg boxing federation hey meanwhile has come out of retirement for the clash the rivalry between the pair remains as strong as ever. blew in. if you live in it looking down my fists they look at me

usually. there is. just the look i look at the little everything is a little bit me it's the easiest thing to do every day in my life. i'm a car has been reinstated as w.p.a. light welterweight world champion the brit lost the title in a controversial points decision to mount pietersen in december however after the w.p.a. ordered a rematch peterson failed a drugs test and the bar was cancelled the means can survive on saturday in las vegas last vegas against w.b.c. champion danny garcia is now a world title unification bout. now for the tour de france where britain's bradley wiggins has retained the overall it is a yellow jersey although it was frenchman thomas voeckler who won stage ten in the your hard mountains after tuesday's to mulch was rest day which saw french monogamy to gregorio 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 now has an overall rate of one minute fifty three seconds from last year's winner could there live in london finished three minutes sixteen seconds behind stage with he claimed his third stage win in ten years. meanwhile in formula one team lucy have issued a statement saying test drive. is making remarkable progress as she recovers from last week's crash they spotted off her right eye after crashing into a support truck ahead of the british grand prix she has since been taken out of the neurological unit at addenbrooke's hospital and is freely communicating with family members who remain by her bedside the thirty two year old is no longer receiving sedation and the team say she is making small but significant steps medical assessments are ongoing to monitor improving condition. now to the

n.b.a. where recently crowned champions miami hate resting on their laurels they've added veterans ray allen and rashard lewis to their ranks for next season they claimed 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 that title arrives as the n.b.a. record holder for the most three pointers while his former seattle teammate lewis will earn nearly one point five million dollars from the move plus a buyout of nearly fourteen million from the new orleans hornets but the move is about prestigious and not money according to the hague president. if we could you know in had the ability to pay all the players you know really what they're maybe they could get on the open market we would we don't have that capability so you know sure people that are interested in interning here and they know coming in the situation is and so they want to be here because. i really believe because of

the organization as much as anything they are sincere in how they've set this whole thing up and when 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 the hate eleanor the only 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 the phoenix suns the thirty eight year old point guard apparently well sort of has to move to new york or toronto. the opportunity to play from one of the greatest franchises in professional sports well most decorated franchises. you know most wonderful series in the. history an opportunity 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

chaney's athletes go from strength to strength both immense in women's competition at 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 thus left to wonder just how they could break the monopoly last year swimmer in the world championships further evidence of the eastern dominance of the chain are sweeping the opposition winning gold in every single discipline. we try to be objective which 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 victor many by it will

compete in the individual platform well the country's rising young tell and he has a higher if and you get it was the tour will take the floor and to springboard events. i think that both myself and sarah 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 earthly it's begun silver medalist and us to see a person of color in the olympics debutant the dish the bhajan or our individual springboard hopes well of the ten meter discipline ulick culture nor will be seeking nothing short of bald despite being only twenty. three or one sooner of 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 set chiva tracy now have to carry out my program slowest rate. russia will have divers

competing in six categories out of the eight and and with such a force to beat as china even one london medal of the highest value would be considered as successful in. the europeans forty. now finally another olympic sport which looks set to be dominated by china is badminton however russian athletes are expected to be in the mix competing for medals even off. have been tasked with attempting to bring back gold in the men's program while alexandra nicholai in car along with valerie for the kino russia's representatives in the mixed doubles honest poor kapanga is set to represent the country in the singles they won't be easy however for the russian competitors the country hasn't won a single badminton medal in a live history. we are prepared for the games as if it's just another important tournament and nothing more but as we get closer to the olympics

the more excited we become that's for sure and hopefully we will cope with that ok well that is all from the world of sport for now you know we'll have more for you in a little under two hours time here on r.t. the world weather is next. well. science technology innovation all the latest developments around russia we've got the future are covered.

nearly a billion people in the world are knowing hungry every day. in the united states even our trash cans are food the 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 threw them all the way about and she was from the german oh you clearly like the upper five. in 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. download the official t.m. click a show to go on the photo i pod touch from the stops to. watch on t.v. life on the go. video on demand on t.v.'s my old cars.