school. should. run along each. other again this is all sierra traveled to headlines. international diplomacy over syria hate southwood special envoy kofi annan most scared to seek help in ending the bloody crisis russia all these that ford partners are not doing enough to stop why that's in the country i meet a global standoff on ways to solve the conflict. greta you asked secretary of state hillary clinton on arrival in egypt where she was given washington support for the newly elected is that mr president there's threatens to strain u.s. relations with a zero what clinton is an amazing a snakes on

a regional poll. on americans are losing trust in mainstream media as polls show its popularity is at an all time low but citizens are stepping in to fill the draft as online reporting moves to the forefront. as the headlines next to drafting a plan for struggling countries is in how to quit the year or as a leading british business chief tells us why he thinks they should. today i'm talking to lord simon wolfson who is a multi-millionaire and chief executive of the next fashion chain he's also just sponsored a prize for the person who comes up with a nice disruptive way for a country to exit the euro is a lot simon wolfson thanks for talking to us today now why did you decide to sponsor this prize i suppose the prize because there was an enormous intellectual vacuum nine months ago people were not talking about this the euro was designed

with all lines of retreat cut off and it looks increasingly unstable and the one thing you can be sure of is if it does break up we need a plan. and i think what this prize has done is it's taken a subject that was to prove it was a forbidden subject and it is now bought into mainstream debate moving that it's produced a fantastic finalist who actually come up with a very credible answer and why was the capital economics plan which won in the end so much better than anyone else's i think it was because it was so comprehensive it was very clear it was well argued it wasn't an reasonable in its expectations of what institutions would have to do it was clear around where the pain would be and where the game were being and it's at a path that will allow any policy maker in any part of europe sit down read that about it will be their prime and that will be the first thing that they should read and can you just summarize it i think it starts with if you take their proposed

timetable the timetable is one weekend the banks are closed a bank holiday is declared on the monday and over that weekend in the existing country all assets liabilities wages prices are converted into the new currency in that country so you may have been earning thirty thousand or thirty thousand euros up of us one day the next week your earning thirty thousand drachma. that currencies and floated on the free markets and the value that currency would then drop dramatically now that sounds like a problem. actually it is the start of the solution because when the currency drops in value that is when greece can return to competitiveness and begin to tackle things like its twenty percent unemployment see the new drachma was introduced and is immediately devalued as a planet suggests how much would that affect people on the ground how much pain would that be for ordinary people in greece the world. over night very little

because all prices were changes well so yes your salary will be a new track and that will be to value but so would your mortgage and so with the price of the goods in the shops now what would happen is of course imports will become more expensive and that will filter slip through into inflation and that will affect people's living standards will begin to see this but at the same time you'll have an enormous competitive use to the economy suddenly domestic producers will be in at an enormous advantage to expensive imports that will create employment that will boost growth and that will kick start the whole economy again and the the history of the sharp devaluations whether it be great britain in one nine hundred thirty one britain came out of the r.m. in one thousand nine hundred two or argentina devaluation what you see is an initial hit and initial hit to living standards followed by a dramatic increase in growth and i think that's what would happen in greece and as its inception the year it was this thing that was supposed to promote growth and jobs what went wrong what went wrong is that it was fundamentally flawed in the

first place it was a classic cars kind of old horse it over time economies to converge more people move between areas and over time that a currency union forms almost naturally if you look at what happened between era. great britain over the last thirty years the two currencies almost came to paris without anyone planning it. but to force them to and over economies that are so difficult was to invite trouble there was never any exit plan in place once country has gone into the euro they were stuck in that basically why i think that was. well i think that the architects believe that if there was no line of retreat for the troops to fight that much harder. this was a classic case of sort of burning. it was a mistake and it was an act of extraordinary political arrogance that they were so convinced that politics our way economics that they refused to think about the

possibility of failure and it does seem that we're still seeing those political and kind of ideological considerations of how weighing the economic considerations absolutely all over all make you a human is the politicians will cling to their idealism and promises for as long as they possibly can but in the end the weight of economics always wins politics never trumps economics so we've seen various attempts to shore up the recently end of the bailout for greece also cheap money flooding international banks from the e.c.b. will these measures work to think absolute you know what those measures are is they all refinancing debt that no one thinks can be paid back they do nothing to address the fundamental problem at the heart of the euro which is the fact that portugal's greece spain ireland italy are all hugely of a drag and as a result of that they have uncontested and unemployment rates are unimaginably high levels between fifteen and twenty five percent of these bailout plans do nothing to

address unemployment and spending greece and do nations like spain and greece needs to leave the euro in order to promote growth i can't see how a country whose interest rate is being held at levels that are miles above its growth rate compulsively escaped the state without at some point defaulting devaluing some of that debt and starting again until greece and spain can be competitive in the fashion markets i don't see how they can grow and if greece did leave do you think it stands to reason the others would then. well i think there be two reasons for us to follow the first would be capital flight but the day that greece leaves and devalues everybody's bank deposits is the day that everyone in spain withdraws among the noises an instance of germany and then the weight of our capital flight may well just break the system if it doesn't the next critical point will be if greece succeeds because if greece comes out and in two years time is

doing really well on its unemployment rate has dropped from twenty to ten percent then spain spaniards are going to think hold on a second what is all this austerity about. him if they seem to be doing much better out of the system and the point going to be an economic pressure political pressure for them to leave and as a british businessman how would all this affect you well there are two things that britain's got to worry about the first is the stability of all banks and that really is the government's business so the banks british banks have three hundred billion euros worth of assets in southern europe a lot of that will be devalued so that's going to be a hit for the british banks and that gap will need to be plugged whether it be through additional provision of liquidity or capital the government must be ready to do both the second thing is that traders will need to adjust their trading patterns essentially goods that were that they can buy for missing will be a lot cheaper so there's an opportunity for traders to buy more from southern european states and also the flipside of devaluation in the south is an

appreciation of the currency in the north british goods to germans will become cheaper and that's an enormous opportunity for britain both to export into germany and to compete more fairly and more effectively in the united kingdom with northern european competitors we're still seeing angela merkel holding on almost desperately to the euro trying to keep it alive is that just because germany benefits from a single currency because it's easier to sell its goods and services it in a why to europe i mean germany's here is sort of a slightly fool's paradise because on the one hand yes it's much easier for germany to export. on the other hand germany has lent the central bank of europe five hundred billion euros that's been pumped into southern europe in order for these goods to be bored so on the one hand it's selling goods but on the other hand it's lending money that's never going to be paid back to buy those goods at a discounted rate so yes the industry seems to be doing what out on the other hand the taxpayer on the banking system is coming under increasing pressure to pay for

those discounted exports. and i think people are beginning to realize that is merkel just waiting to get our money back that essentially what i think in the question is is that money ever going to be repaid oh and as as i think was mentioned earlier on this is as much a political project project as it is an economic project i don't think the germans are just looking at the costs and not just looking at about eight they're looking at their most cherished political project of the last thirty years and i think it will take more than just cost to change their minds is there a future do you think for the european union without the absolutely i mean britain is a is a very healthy member of the european union and we're not in the euro and let's face it the european union was around a long time before the euro was introduced this absolutely no reason why the european union should not just survive the collapse of the euro and what simon wilson thank you very much the pleasure.

so francis in saluja rates of. the roots of leukemia for example surgery to. breast cancers moon centonze chose cancers fourteen times. as bush. there's no nothing that you have ever found in any of the demotion study anywhere. there is a way that the brings victory. to its creator. he's not alone. some are more severe than others we have something that is born without skulls without organs and sometimes with their legs tied over to mr means death to those who it's pointed out. and to those who choose this window. and this celebrates it and they don't realize

that stand looking at their own future can't so. this is just. so sad. i have. leakage and i show you so the extent of how much i have leakers. one industry in the soviet union. did not display i labor schoolers for the attempt to get a job with them past the west. one could easily be putting. pressure on the old gas producer with your shoes but this would put the soviet people.

download the official ante up location to go on the phone all i pod touch from the store. watch our life on the go. video on demand parties mind broadcasts and already says feeds now in the palm of your. question on all t.v. dot com. sigrid laboratory to mccurdy. i was able to build a most sophisticated robot which unfortunately doesn't give a darn about anything tim's mission to teach me creation why it should care about humans and work this is why you should care only on.

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the top stories in all c international diplomacy of this theory and sound with a special envoy because they are not in moscow to seek help in ending the bloody crime says russia all views that foreign partners are not doing enough to stop violence in the country i meet a global struggle and ways to solve the conflict. on to american tribes has agreed to through our secretary of state hillary clinton on arrival in egypt watches given washington support will the new be elected islamist president they say threatens to strain u.s. relations with israel where the internet is losing a nation the regional toll. on the market is a losing trust in mainstream media as polls show its popularity is an all time low but critics are stepping up to fill the gap as online reporting lends to the

forefront. and that is the headlines for you now andrew is here with the sport and he's got some good news for motorsport fans and russian. hello there thanks for joining me and here are some of the stories we are covering this hour we'll deal formula one star lewis hamilton hailed as moscow amazing future venue for f one races during a spectacular visit to the russian capital. last last minute booking zach johnson jeev milkha singh claimed playoff victory secure a spot at this week's british open. and been told me three new orleans defends the west title issue for the olympics. but first formula one star lewis hamilton says he would like to see the sport host a night race on the streets of moscow the mclaren driver was in the russian capital this weekend to promote f one as part of the moscow city racing event an open top

drive to greet the fans was first and then it was down to business as the british driver showed off his mclaren need the iconic kremlin wall. i must go with staged this high octane extravaganza to finish the interest in motor sport in the city russian own death wanting the feel good french youngster shells peak at home in flew the flag for the world rally championship russia will host its first f one race in sochi in twenty fourteen and how much and says potentially moscow could stage a singapore style night race. when everyone asks me about race circuits you know in london or in moscow for the city race i'm always yeah let's do it let's do it this is you know i think moscow has the opportunity i hope in the future to put on the street race i think i've seen the same images of moscow at night and it looks absolutely spectacular so i think having a night race here one day as we do in singapore would be you know one of the

highlights of our season so i hope that you guys welcome us. powwow formula one car shook the kremlin walls of the remo world series took to a brand new track in the moscow region it was designed by world famous architect home until and could also hold f one races in the future constantine but top off as more. the moscow raceway is the first error track in russia that can host all kinds of more sporting events including formula one but it was world series by ran on that first got to try out the brand new course sitting some eighty kilometers northwest of moscow you have a lot of very good drivers in this event and it became. where you can see the formula one teams they have their. best one on the floor why this is so way lots of formula one drivers including semi stand vettel and fernando alonso hone their skills in the cirrus it's now become more familiar to the country thanks

to a russian team our air force which boasts two homegrown racers twenty it's an championed me. and i don't lead ski behind the wheel it's a new team and results are relatively modest so far but the racers are optimistic about the future as with all the new personnel as a business falls from the start but now i think we're getting better and better the first thought to be on the top with a new team have a new team a new care everything is new there is a good driver sand. and another way of travis care as well so we need to work all together it was then we'll go out from the low cirrus ran a two point zero who gave fans at the moscow raceway the most to cheer about the red bull junior team driver had been top of the rankings throughout this season with drop to second before the russian stage however he drove his soul edris to win on home to reform the opening day and dominated on the second capturing only the

right from the start and took the checkered flag to head up his rival stoffel one door the eighteen year old racer is back to back wins have moved him to the top of the formula ran two point zero zero standings again to her. by her. work terry fox importance and. they're doing the same. so. threats so we've reached the finish line of the first ever major morris boys can petition to happen in russia and it's been taking part on the track that could most likely those f one races added to the fact that you've got one two races it's a bit although historic we can. see moscow region. meanwhile your guy renzo has tightened his grip on the moto g.p. standings the spanish rider cruising to victory at the italian grand prix to stretch his overall lead on the very first turnarounds overtrick compound danny

petrosian who started from pole in the yamaha man never looked back after that to be into second result means the enzo now leads betrays it by nineteen points at the top of the oval standings reigning champion casey stoner is eighteen points further back this train had to settle for a lowly eight spot on the day after running off the track i'm here right and here's the video complete. i knew. it was going to be a very difficult race because danielle saw it would place but i try to hold a human the first. two and i knew that the struggle a little bit more with. the new tires but it wasn't i know they keep. very close. police are investigating an act of sabotage on stage fourteen of the tour de france it was won by spaniards on sanchez and britain's bradley wiggins keeps hold of the yellow jersey but thirty riders suffered punches on the route after tax and

nails were thrown on to the road among those affected were defending champion condell evans and in an act of sportsmanship the peloton slowed down to wait for the australian to catch up rather than sanchez was part of an earlier break away and claim the stage win with green point jersey leader pietersen again coming home in second but it is wiggins he still leads the general classification the team sky ride is two minutes and five seconds ahead of fellow briton chris froome italy's been chan's in the belly rounds at the top three and can't get out evans is in fourth today stages a relatively flat one from some atlanta poll and more seem to the sprint it's another news american golfers and johnson has enjoyed a confidence boosting victory ahead of this week's open championship he's been trying madison in a playoff to win the john deere classic in illinois troy madison had led for the first three days does but despite moments of brilliance still found himself tied with johnson on twenty under at the end of the final round so it went to

a playoff and on the second extra hole johnson got into a bit of trouble here but got out of it magnificently the ball rolling right up to the pin. i. and it meant matheson. to seeing his. part of victory. unfortunately for him. i. pulled up short leaving me two thousand and seven masters champion with a tap in which he sank but he didn't milk the wind for too long after a quick celebration johnson then headed to the airport to fly to england for the open which starts later speak. but also heading there is india's g dissing he booked a spot at the major with a victory at the scottish open after a play off against italian francesco molinari also moved him back into the world's top one hundred he gave me a check for six hundred forty five thousand dollars. i think god's been really

going to honestly i never thought that i would go in for a playoff. it all came back to me and i had an opportunity to go for a playoff i'm going very fortunate and i made a good part on the last part was that only for short like a left run they. came through with it and. i'm just excited and i'm really happy what's happened. in tennis arena williams has retained her bank of the west classic title in california she was up against fellow american and lucky loser cokers in the vague who had only qualified after another player pulled down so it was incredible she made the final at all but she wasn't overawed and even had said point in the first before crumbling to lose the seven five however williams then found in a big game in the second to take six three for the match next stop is the olympics and the return to begin with and where she won the grand slam just over a week ago. for me is important keep the minima do the best i can every

every term and the next next day isn't guaranteed so you know i was having to do. elsewhere in chile to play me first home plate when the croatia open in twenty two years he beat marcelo get a no six four six to win the final numac despite the defeat the spaniard breaks into the world's top twenty in the men's rankings to kill if she stays fifty and certainly enjoyed claiming the second title of the year after winning at queen's club last month. so it was really special this for you could play the great kindness that was enjoying every moment and. momentous. that i wanted for the support of some work for my team and also for myself. and yanked it out of it had a good weekend to winning the sadie's cup in germany with a three sets victory over our good time fun monaco this is the first place courtside to serve as one of the a.t.p. tour fields they picked up a nice car as opposed. to my finely stunning basketball and skills

aplenty were on show as america's star studded basketball team held an open training session ahead of the fast approaching london olympics the n.b.a.'s m.v.p. paid bron james and his teammates went out of their way to please the crowd as more than three thousand military personnel and their families came to watch them practice in washington d.c. team usa are due to play three friendlies in europe before kick starting their title defense at the lympics they include facing host great britain and spain when they beat in the final in beijing four years ago coach mike giusti led them to success in china but he will step down after the london games and so will kobe bryant. i said huge era for me because you're always want to play for them to come into your because of them your career opportunity. as well as well as drew griffin my way as one of the world has. as a group has great symbolism too. and that's all we've got time for for the moment more

sports into us. wealthy british style. sometimes. markets why not scandals. find out what's really happening to the global economy in the kinds of reports.

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