giant corporations rule today. thank you for joining our team and have past the hour with your top stories conscience flare across syria with violence on the rise between government troops on the rebels after a deadly attack on several of the machines top brass the free syrian army has claimed responsibility with a former inner circle a bodyguard named the culprit. israel points the finger of blame at iran over an attack on its citizens after at least eight tourists are killed in a blast in the bulgarian city or gongs no group has yet claimed responsibility for the bombing. and a test of chancellor merkel's authority the german parliament is set to vote on

whether to funnel spain's beleaguered banks but although lawmakers are widely expected to back her child still have to face down a rebellion and we've had her ruling coalition. thanks to we hear from economics professor william hankel who explains why he thinks the euro is driving europe into a financial abyss. here is skepticism is in fashion these days but are today's guest was against europe's common currency before it even came into being professor william hanka a prominent german economist is joining us now on r.t. thank you very much for your time sir you were among those who launched a legal action against the euro all those years ago you must feel vindicated now i think an economist like me is like a doctor the social doctor he feeds will sponsor for the society

and so this is the reason why i want like a good far as wanting his child. the child has to look to the traffic on the street and my job is to warm up to consequences of see you or not see governments are sinking so very very. complicated because your point is not a nation like united states and all the a nation can have a national currency but as long as you will be is not a nation and vince that will never be a nation it cannot have a common currency economic disparities notwithstanding do you think the euro was a good idea at least in the theoretical sense not currency behind the idea of see your is the wrong idea namely said we can form united states of you or

your. with a currency. if we want to hear if united states of you or if we need a political union we need to come in constitution we need common referenda of sioux people we need what we do not have in your op a common come in people come in their most united states is a nation but you will be is not a nation your visit diversity of nations and diversity of states and any state is responsible for the valve of its own citizens of its own people and therefore it cannot be bought together a common currency and the sponsibility of the states for their own people you make a point that the stereotype programs are damaging not only for europe's financial health but also for its democratic institutions could you elaborate on that look

democracy begins at home begins in the russia begins in germany begins in italy and spain they have a national parliaments. and this is the highest servitude and if there's a common currency is taking. decisions in terms of money in terms of budget it's a violation of democracy. it was. your historical mission to bring democracy in the world and now and i am very certain about now. is destroying democracy now how big of a role das culture play in fiscal affairs was it an important factor in the euro being not asked successful as initially and visit my personal view from the very beginning and is in order for common currency in interact economic terms you need

an optimal currency area but europe is not an optimal currency area and since introduction of the euro or behaved no unified interest rates a unified foreign exchange rate among you will be in economies but. greek you are it's not equal to a job and your common interest rate for spain let's say and there's a lens or greek is. a long interest rate because in case of spain's it was three it must be higher in case of theirs alone so germany must be law so it's a complete mismanagement even in monetary financial terms what we have now in your mess western europe has long been held as an example of well functioning capitalist system and now we are talking about socializing huge debt how do you square free

market principles and bail out proposals this is a very interesting point to the your idea of the common market started as a very liberal maybe a no liberal project of freedom freedom freedom free vestments and free trade. and now says liberal project is becoming a very socialistic pol. pot's work like su former soviet union common currency means there is no competition between currencies. common debts means says no no responsibility for your own debts so this is not a liberal project so you were his changed see whole i journaled t. of p. in integration from a liberal concept into a socialistic one which is quite interesting so in russia for instance is also

a listing idea faded away but in new hope its coming under the auspicious of so your crisis but i think we would have seen the same destiny as him soviet union there's also a list of concept cannot survive what kind of actions european leaders could take to prevent the sort of collapse if we were to go back for every nation for france for germany as a lens it is spin to zero national currencies so what would have two advantages first of all we could solve every nation could could serve its local crisis local means then we've developed nation of currency his own interest rate to visit on budget of the policies and secondly we could from a european unity not a piece of a common common currency but of. the union of. currencies

where before foreign exchange rate union before. we had in european monetary egremont. common. policy in terms of foreign exchange rates but not internally in. terms of interest rates and i think we have to come back to the time before nine hundred ninety nine where we had foreign exchange rate unions instead of money unions you just mentioned their return to national currencies and the latest poll i've seen shows that the number of germans who are in favor of reintroducing the dorchin mark is steadily on the increase the majority of germans are also strongly against the idea of euro bonds but german authorities keep pushing the your agenda and bailout proposals who do you think should have the final say on those

issues the people on the power it's article call it. what is learning capacity of governments. i fear not as early as students learn at school but long long monetary story shows the one lesson is no substitute for own currencies listed foreign exchange rates if you have own currencies and lulu sticky change rates then you have a very i'm pulling pressure for to any government to make serious policy so the fear of developing nation blinks the government back to the high pass of serious policy and those think this is a lesson we have to learn. i was a long time more than forty years professor of economics so i started if i calculated quietly seventy seventy is ball monetary union and past

now we are confronted with seventy one so it's the old piece was new to us but this is allusion of the seventy's before was. come back to own currency make see why the value of his currencies are right into us when it's zero at foreign exchange rate and your exporters thanks and says we'll be solution in the beginning of the twentieth century germany had some of the highest inflation rates in many historians agree that it was one of the factors that brought hitler into power if you are indeed collapse less what kind of social and political implications it could have for europe and the rest of the world love r.c. . consequence of a social crisis so we have to avoid any a social crisis in order to to or to to fight against a company because of

a dictator like hitler or ourselves now the countries and south of your makes the same experience so they had to avoid a social crisis and the real problem we see you all is to your is changing from a monetary crisis into a social crisis and in order to avoid to social crisis resources political implications we had to stop so you they had to come to a national. democratic terms in economic terms. in monetary terms and then we can make combined and united you all as association of independent nations and i fight for says you because this would be open for other non. you nations like switzerland or even like a national in such open. you'll be in society his

own currency of his own democracy is all in the nation's. new false vote economy namely a sawed off alliance of nation there you will be an alliance of nation so this is my hope for the future thank you very much for your time.

resistance is not a politics but a culture. this could. all its own. cultures of resistance on the marketing.

clashes flare across syria with violence on the rise between government troops and the rebels after a deadly attack on several of the regime's top brass the free syrian army has claimed responsibility with a former inner circle bodyguard main culprit. israel points the finger of blame at iran over an attack on its citizens after at least eight tourists killed in a blast in the bulgarian city four guards no group has yet claimed responsibility for the bombing. transit tast of chancellor merkel's authority the german parliament is set to vote on whether to funnel to spain's beleaguered banks but although lawmakers are widely expected to back her still have to face down

a rebellion within the ruling coalition. next it's all the latest sports news with paul. thank you very much care and welcome to the world of sport here's what's coming up you appear to prepare for their first ever competitive europa league match right away from dagestan after you wake up the region in danger. on his way after a rapid rise to fame jeremy lin is the new york knicks since scientific using rockets in a deal what twenty five million dollars. and on top of the world england in south africa had to begin their rematch test series during the world's number one ranking . but first the football where russian club. buy their first ever match in the europa league later on thursday they take on hungary and side one vote in the

second qualifying round and you have been banned from hosting european matches in dagestan after the way for the crowd the region dangerous so the first leg of the tie is being held in an unused arena in the moscow region the big spending twelve hour appealing to europe's governing body in the hope they'll overturn their decision a giant screen is being wrecked at angie's home ground in march glasgow supporters can watch the game produce hiddink believes the visitors will come into the tie better prepared with two competitive matches under their belts already this season . but elsewhere sweden zlatan able him of it has signed a three year deal with big spending part of your man reports claim the french club paid ac milan around twenty five million dollars for the thirty year old sweden's captain apparently taking home a reported seventeen million dollars a season after tax the transfer taking the club spending to some one hundred thirty seven million dollars this summer and abraham riches excited about where the club

is heading. i come to the dream team and the grid dream team will be continued to growing and. i mean they will do everything to win and i want to be part of that this is the future and i want to be part of this future. now in basketball n.b.a. phenomenon jeremy lin is expected to be unveiled as a houston rockets player later on thursday this after the new york knicks failed to match a three year twenty five million dollars offer for the point guard lane a passed a medical inclusion in the head of completing this which he shot to fame last season despite making only twenty five starts for the knicks after making his debut in december linsanity swept across america and his native taiwan the new york franchise working to keep hold of their star man but ultimately failed to match the rockets of his form and figures were beginning to drop before his season was prematurely ended by an operation on his knee but the knicks fans believe they'll

be better off with or without the twenty three year old. i can't make that call because i mean he came out of nowhere is it somebody coming out of the ivy league didn't get the kind of attention or was he always been evaluated based on its ballplayer i don't really know and so the question is was he going to come back in the injury and do the same things again it makes no sense he started to. go and get over it he got to me man new york in order to sign painter begin trading began traded to the rockies. it's a terrible mistake well we've got a pretty big population here in new york a big mix made a big mistake not capitalizing. now in cricket the top two test teams in the world begin their three match series later on thursday england south africa at the oval now in defeat would see the tourists leapfrog them into the number one spot in the world rankings a draw however would be good enough to keep andrew strauss his men top of the pile

and he'll be hoping his bowling attack can help inflict south africa's first series defeat on foreign soil in six years the contest pits arguably the world's two best bowling line ups against one another the tourists to spearheaded by the world's top ron paul and dale steyn while england can call upon the formidable jimmy anderson and south africa's captain graeme smith believes things all the best attacks in international cricket. something it's a faceless men with the records of what the the to bali attacks have achieved. but you know we move forward into and we're hoping that they can carry on with that lift off in the past and there's new new highs for them to create hopefully you know i'm certainly very excited about it i think it will be a good gauge for us as to where we are actually the rankings say we're number one but we've got to go out there and prove that now. now to boxing where former w b a

light welterweight champion i'm a card says he's confident he will return to form after suffering his second straight defeat at the weekend the twenty five year old lost his unification world title fight to danny garcia resign a quick return to the ring possibly as early as december his future could be without trainer freddie roach i don't know yet i mean at the moment at the moment. i don't my team and we know exactly what's going up and. like so things can change . when we sit down with a team big enough for a few names to me and we're going to make it as asian in the next week or two. meanwhile car has been on the u.s. olympic boxing squad they've been using his gloves a community gym in bolton to train ahead of the games which begin next week team usa showed their gratitude by handing a five year old one of their tracksuits can himself was an olympic silver medalist in athens in two thousand and four. now to formula one west seven time form up

while champion michael schumacher is aiming to win his home german grand prix this weekend the forty three year old is yet to reach the checkered flag first since coming out of retirement two years ago i will go he secured a place on the podium in the recent european grand prix sadie's meanwhile are looking for their first win on home soil since one manuel fangio one of the being in one thousand nine hundred fifty four and she marcus says he undertaking a closing in on that elusive victory. with. high hopes it's what drives me on and what of course has given me great pleasure as we have already shown this year we're capable and i hope we'll be able to win a race hopefully in hockenheim it will be a great challenge to stand on the podium as one of the best is not too unrealistic it would be a great result for us. now

continuing the countdown to the london olympics which begin next friday an r.t. continues its look russia's medal hopefuls one sport in which the country has dominated in recent years is synchronized swimming michael crabtree and co now reports on two athletes hoping to continue that success. russia's synchronized swimming team and do it have won all six possible gold medals in the last three olympic games in addition they have also contributed heavily to russia's overall gold medal tally in both the world and european aquatics championships but whether or not the challenges of drop the standards in recent times it's clear the current batch of russian athletes are being trained hard. we really work a lot every one of the training facility mills this they're all shocked that we train daily for ten hours recording and polishing the routine is very difficult and to remember it is even harder. although it was removed in favor of the team competition for the nine hundred ninety six games the jewett is now considered to

be the most prestigious event of all russia and us to see it and honest to see a year mark over with the country at the last two olympics but a couple of new starlets in the form of natalee and said. have since emerged shining at least in the world and european championships so. it's much tougher physically this time around because in the last olympics i only participated in the team competition and now i will also be performing in the duets competition it's a more individual event and it's of course very prestigious and because of that it's more than double the work the discipline requires great strength in jurors flexibility and of course precise timing as well as exceptional breath control when upside down underwater so training is tough and constant and lengthy the girls can train for literally half a day in order to ensure they maintain the proper level of fitness. without

a doubt the most difficult aspect is dealing with the physical demands we've got to do at repetitions in the morning and to team repetitions in the evening so it's quite difficult to keep yourself in shape mentally it's also tough yes the olympics are the gold. but you try not to think about that because it just becomes that much harder you know russia's synchronized swimming to what you should call and. of course i have to spend a lot of time in the water but surprisingly they spend a whole amount of the ten hour training sessions here in the gym practicing record graffiti. it's a long and at times lonely task with a rigid regime that leaves little room for anything else let alone free time but to insist there's enough time for friends and family. we have one free day a week so we try to get everything done then like go to the movies and read with friends i have a husband at home so i like spending time with him of course but this is part of

our work and i just have to get used to it and of course there wouldn't be much of a do it if the two girls couldn't get along with each other. natasha and i get along very well even beyond the training facility but it can be difficult especially when we come back after our day off and have to resume training when all we really want to do is share the latest gossip of each other mushy enough feeling big shoes and expectations will be sky high when they dive in the olympic pool in london in august but it seems they're already well prepared to carry the torch in russia's bid to win gold for a fourth consecutive time michael genco. moscow. while that is all from the water sport for now but i'll be back with plenty more in a little under two hours time here and i'll take but the wild weather is next.

well. science technology innovation all the developments around russia we've got the future covered.