from phones to. t.v. don't. go to headlines now. fighting between government troops all across the syrian capital while a showdown looms of the un over a draft of the intervention in the western backed resolution includes the threat of sanctions which strongly opposes. the b.b.c. by a court order preventing it from. riots the. lawyers for the broadcaster and considering. the fate of spain's

a. hundred billion euro bailout. pleading for peace to the rescue people. remain unconvinced. are now we sit down with economics professor. who explains why he thinks the euro is driving europe deep into the financial abyss this is. your skepticism is in fashion these days but our today's guest was against europe's common currency before it even came into being professor william hankel 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 a social

a doctor he fields was sponsor for the society and says is the reason for it like a good fathers are as wanting his child. the child has to look to the traffic on the street and my job is. to consequences of see you or not see as governments are sinking so very very. complicated because your 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 to

your is the wrong idea namely said we can form united states of your or your. with a currency. if we want to hear if united states of you or we need a political union we need a common constitution we need common effort and our of supply we need what we do not have in your op a common common people come in their most united states is a nation but you will be is not a nation your business diversity of nations and the 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 responsibility of the states for their own people you make a point that this territory program said damaging not only for europe's financial health but also for its democratic institutions could you elaborate on that look

democracy begins at all begins in russia begins in germany begins in italy and spain we 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 in visit by person view from the very beginning and is in order to have

a common currency in interact economic terms you need an optimal currency area but europe is not an optimal currency. since introduction of so you or behave no unified interest rates and unified foreign exchange rate among you will be in economies but. greek you are it's not equal to a job and your income in interest of aid 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 debts how do you square free

market principles and bail out proposals this isn't very interesting point to the your idea the common market started as a very liberal maybe and the neo liberal project of freedom freedom freedom free investments and free twenty eight. and now says liberal project is becoming a very socialistic. project like say a 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 has changed see whole i just look t. of of you or p. an integration from a liberal concept into a socialistic one which is quite interesting so in russia for instance.

faded away but in new hope its coming. the auspicious of so your crisis but i think we will have the same destiny as i'm soviet union as socialistic 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 islands it is spain to the old national currencies so in the hood we would have two advantages first of all we could serve every nation could of its local car as the local means namely this developed nation of currency his own interest rate to visit on budget of the policies and secondly we could from the european unity not a base of a common common currency but of. the union of. currencies

where before foreign exchange rate union before. we had an 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 the return to national currencies and the latest poll i've seen shows that the number of germans who are in favor of reintroducing the door to 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 this

issue is the people or the power its article call it. what is the learning capacity of governments i fear learn not only as students learn at school but long long monetary story shows so one lesson is no substitute for own currencies or listed foreign exchange rates if you have own currencies and realistically change rates then you have a very odd political pressure for to any government to make serious policy so the fear of developing nation blinks the government back to the white pass of serious policy and i 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's ball monetary union and past

now we are confronted with seventy one so it's the old peace 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 you exported things and says he would 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 s. 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 us us now countries and south of your makes the same experience so they had to avoid a social crisis and the real problem we see your is see your wall 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 as well as 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 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 his own nations we could form a new false or veldt economy namely a sawed off alliance of nation the european alliance of nation so this is my hope for the future thank you very much for your time. fools started. going global. polling.

places. to. split the wall. street.

mission to teach. more news today. these are the images. from the streets of canada. giant corporations rule the day.

the headlines on the flashpoints of fighting between rebels and government troops are spreading all across the syrian capital showdown looms at the u.n. over a draft that. could mean intervention both of which russia strongly opposes. the german parliament is set to decide whether to hand over a one hundred billion euro bailout to spain's banks. putting her authority to the test as she tries to piece to the rescue. the b.b.c. is gagged by a court order preventing it from airing a documentary about last summer's riots the country lawyers for the broadcaster and considering an appeal. into the world of sports we go with you know. simply

it's hard to really get a grasp in my head the olympic games just over a week away yeah it is hard to believe in that eight days away on tell those limp games start in london and we're going to have a look at team russia are shipping up in just a sec. thanks for joining us this is indeed sports a pleasure you had over the next ten minutes including all this. continental quest . really their second day of a competitive european march but away from dagestan after you we have to declare the region simply too dangerous. on his way after a rapid rise train journey linley's the new york knicks signed for houston rockets in a deal worth twenty five million dollars. medal hopes we continue our build up to the

fast approaching of the big games by taking a look at team rushes. let's start with some live sport the third oldest major of the golfing season the british open is now well underway and like a sure invent it's on a street in leading the way currently out of scot who's never won a major now in this final hole as he holds a two stroke lead over american zach johnson paul lawrie got off to a lightning start and he's still very much in the mix on for longer while tournaments favorite tiger woods a three time british open winner also sets three shots off the top alongside northern ireland screen mcdowell. for russian club anji play their first ever match in the europa league later on thursday the man preparing to take on kerry inside hundred in the second qualifying round of the tournament though being banned from hosting european marches in dagestan after you have to clear the region too dangerous that means the first leg of the time will be held in

a man used to remain in the moscow region the big spending club appealing to europe's governing body in the hope they will overturn their decision a giant screen has been erected at home ground in my class so that locals can watch the game meanwhile monitor guus hiddink has given a vote of confidence to fabio capello as the italian negotiates a deal to take a. over us russian national team which. russia will get with but far below very good very experienced coach and i think around him there will be very experienced russian coaches who can give a lot of information to him. but if you look at these c.v. then it's one of the most successful gotos ever in the world of the world in the last decade. while russia's sport minister doesn't quite sure the enthusiasm of the man who led russia to the semifinals at euro two thousand and eight the telly would go us stern believer in the juice in marine you footballing philosophy must go

telling the countries receiving two channels of the portuguese is the best manager in the world it's unfortunate that the forty nine year old this thing at real madrid the official did however praise capello's experiencing that the sixty six year old has all the tools to make significant progress with russia the minister adding there were barely any top level russian born coaches to choose from as most successful premier league clubs here are also led by foreigners. staying with football liverpool have laid out their terms for parting with striker of the coral thirty one point four million dollars the asking price for the twenty three year old the club spent almost fifty five million though to acquire him from newcastle last year liverpool looking for a better investment after paying the third highest fee by english club to acquire the england international new manager brendan rodgers against the loan scenario but said he'll quote consider any worthwhile offer carla struggled with i'm feeling when he reached his top form towards the end of the season as liverpool finished

eighth in the primary a new boss and tongue clearly looking for a fresh start after the club's worst league results in. us. and basketball n.b.a. started jeremy lin is expected to be unveiled as the houston rockets player later on thursday that's after the new york knicks feel to much a three year. five million dollar offer for the point guard lynn passing in medically houston ahead of completing the switch the twenty three year old shot to fame last season despite making only twenty five starts for the next after making his debut in december when some of the swept across the america his native taiwan the new york franchise working to keep hold of their star man but ultimately fail to match the rockets offered this foreman figures were beginning to drop before his season was prematurely ended by an operation on his knee but do next fans believe he'll be better off without the sensation i can't make that call because. he came out of nowhere is somebody coming out of the ivy league didn't get the kind of attention or was he always being evaluated based on his 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. get over he got to me man new york in order to sign steve you can trade it began traded to the rockies. it's a terrible mistake well we've got a pretty big population here in new york. knicks made a big step not capitalizing on. the boxing were former w b a light welterweight champion i mean our camp says he's confident he can rediscover his best form after suffering a second straight the feat at the weekend the twenty five year old losing a united for kitchen world title fight a dunny garcia but is eyeing a quick return to the ring possibly as early as december but that future could be without his her nine trainer freddie roach but only i mean at the moment at the moment. to. tell us you know 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 a decision next week or two. meanwhile a can has been honored by the u.s. olympic boxing squad the team have been using his globes community gym in bolton to train ahead of the game for speakin next week team usa showing their gratitude by handing over to the twenty five year old one of their olympic track suits count himself wasn't a silver medalist enough and in two thousand and four to form a one where seven time former world champion michael schumacher is seeking to win his home german grand prix this weekend the forty three year old is yet to reach the checkered flag ahead of the field since coming out of retirement two years ago although we secured a place on the podium at the recent european grand prix receive meanwhile are looking for their first win at home salt and juan manuel fangio one of the nürburgring in one nine hundred fifty four and she represented here in the team are

getting closer to that this victory. does i hope soon 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 was one of the burst is no two on realistic it would be a great result for us. now i finally with the olympics just over a week away now let's continue our look at those russians best place to bring home some silverware athletics as long provided a stream of success for both the u.s.s.r. on russia the games so just how is the current crop shaping up michael kravchenko has more. with forty seven sets of medals on offer from athletics disciplines at the london olympics it's no wonder russia is counting on the athletics team for success they'll be heading to london with one hundred nine strong team three more

than in beijing four years ago and they'll be accompanied by forty nine coaches and staff think your chances today explain the you're the teeth of chances and approximately six and go for. this especially in the wins so to new moon says remembrance rising star because it will also be heading to london after some truly surprising results early in the air and despite being modest because arena is as excited as anyone heading to their first olympics minister buttoned up course i'm thinking about it i'm also still very young and my opponents will all be so mature and experienced but i'll be trying my best but i think many eyes will be on the four by one hundred meter and four by four hundred meter relay races russia managed to win gold and silver respectively in these two events back in two thousand and eight and despite the added pressure some are still just happy to be a part of the person to get them it's a celebration for any athlete to be a part of history a part of the olympics and to return from that with

a medal well that's probably what not just any athlete would wish for but any person but well see. the clerics president was however keen to point out that there were other events russia would have a good chance in very strong words like for before khalid made his race we have stronger and stronger winds and. chemistry and destroying you can good chances in jumping events especially high jump hopes will lie mainly on recently crowned russian high jump champion irina garvey of she didn't want to jinx us of prior to the games but a sparkle was in our eyes i'm not saying anything is a secret secret but you are expecting a breakthrough result. against. well i'm really really hoping for one yes so the mood within team rushes athletics team is upbeat and with a shiny new kit to perform and they'll be sure to dazzle the crowds at the biggest

sporting event in the world microphone go r.t. . and that is where we leave the sport for i'll be back in just under two hours time with more but now it's the world weather. world. science technology innovation all the list i'm elements from around russia we've got the huge earth covered.

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