being from the streets of canada. trying to corporations rule the day. here are with our team here is a look at the top stories a u.n. monitoring team leaves a key common area and concern for its safety and security a country worried now even loose links to the government is turning ordinary civilians into rubble targets. the f.b.i. hands high profile data leakers within state agencies the u.s. government and lawmakers are criminalizing certain kinds of information spills while deliberately planting their own. the controversial trial of an anti porton punk band enters its final stage with a female trio facing up to seven years in jail for storming russia's main cathedral

. next artie's laura smith interviews economist roger bootle who won the wolfson prize for developing a practical plan to dissolve the eurozone. today i'm at capital economics talking to roger bootle he's the head of the winning team in the wolfson prize which is the competition to find the least disruptive way for a country to exit the euro logical thanks very much for talking to us now this wealth and prize the competition why was it important to you to put together such a strong and treaty i was fascinated by the question that lord will some posed and as i thought about it i quickly became aware that no one of really satisfactorily even i think attempted to answer is no i thought we could learn a lot as well as contributing quite a lot in trying to answer it and that's what we did and talk me through your

winning entry very briefly country wanting to leave the euro must prepare a plan in secret among a very small group of senior ministers and officials pretty much assumes the plan is agreed it must be enacted in order to prevent news leaking out the banks will have to be closed over the relevant period which is probably a week and during that period capital controls will be in place almost say the friday night it will be announced to the people of the departing countries let's call it greece that from then all all the amounts that were in their bank accounts their pensions or whatever their wages prices which were formally expressed in euro's were now to be expressed in drachma as and we suggest that the conversion rate between euro's and direct must be one for one now a lot of people get this mixed up they think well that case what about the exchange rate on the exchanges there's no connection between the official conversion rate

and what the drachma trades as and we're pretty sure it would trade at a much lower rate probably around one and a half a perhaps even two to one against the euro and then the banks open again on the monday. for tuesday people put in their cards and a.t.m. so they can get your o's out of their bank accounts which are now expressed in drachma thing only get those out at the exchange rate rules now between euro and drachma because now the euro this transfer has treated as a foreign currency and this way they're not going to have drachma notes and coins available and a lot of people got fixated on that we argue it doesn't really matter for the overwhelming majority of transactions particularly business transactions they're done electronically anyway and people use cards debit cards and credit cards they continue to do all that only when they use them it's drachma that they're actually transacting for small transactions that require cash then our suggestion is greece

carries on using your o's until a new director notes are available but your rates at the exchange rate or your is at the new one on one parity with the with the drachma while what will tend to happen is that a dual price system will develop because people will know that direct more aren't the same as your overall or they've been converted a one to one rate they'll tend to be a different price for your own cash as compared to drachma credit or direct debit cards and that will be to some extent messy but it will be perfectly practical there are a lot of countries in the world operate to do currency into pricing system and this all sounds very simple in times of in terms of real people using real money are there other complications the kind of macroeconomic level where there are huge complications and problems and one of the biggest is going to concern the legal position because what would happen at the point of greece to leave the euro is it

would read denominate its debt its national debt into drachma. now as far as domestic greek residents are concerned. not that i have any comeback on that but that change is going to stand in on the greek lore in greek courts but are going to be all sorts of contracts involving known greek citizens where there's going to be a lot of legal argy bargy because let's say a german credit for the sake of argument is not going to want his asset converted into drachma and he's going to argue that this contract was framed in euro's it should still be in euro's and in greece they're going to say oh it's now in drachma and so they're going to be arguments the courts could be heavily involved but the scope for that could also be reduced if euro zone governments reach an agreement on all this which i think they probably would then have to lay down guidelines under which terms of contract would be interpreted and dragged in which would be in

euro's and that would minimize the scope for legal argument the other major issue is not just complication it's a reality is that initially this is going to be very far from a magic wand when the drachma falls on the exchanges the price of goods and services in greece is going to go up possibly by quite a lot so initially living standards are going to be squeezed far from bringing relief to the order a great person it's actually going to make matters worse initially however going forward things are then completely transformed because in a flash greece is more competitive not the grinding deflation they would tell fifteen years but instant pain is li greece is forty or fifty or sixty percent more competitive in the demand for greek output is going to take off that doesn't happen overnight but in a matter of months that will happen in greek exports will start to rise create imports will fall and that will generate employment more income in greece so

there's a trade off a difficult period to go through first of all in order to secure later greater prosperity so if you compare that situation to the austerity that the greeks the now facing which. would you say it's a better plan i think there's no doubt that greece in my view needs to get out of the euro i cannot see any way in which this current policy of austerity is going to bring any relief or stop this grinding process of trying to bring prices and wages down takes not years but decades to correct the sort of on competitiveness that greece is going through and what's more it raises the real value of debt so greece and the other weaker members of the euro face not one key problem but to their own competitive costs and prices are out of line with other countries in the euro and they're also saddled with very high levels of debt the problem with domestic deflation is in principle but very badly but in principle it deals with one of

these problems namely the lack of competitiveness but at the cost of making the other problem debt even worse and what we're talking about is is countries not any greece but possibly other countries that leaving the euro off to that your file seem to fear the breakup of the year is there not some kind of ahmed getting do you think that's where listed fair well i think they're right to fear the breakup of the euro zone because. if greece for instance were to leave obviously we don't know how it would all work out suppose it's possible that the rest of the euro would then hang together but i doubt it i think if greece leaves before very long of us conses countries will leave as well and where they end up probably with the peripheral countries possibly all five of them say portugal italy ireland greece and spain or outside the euro possibly even joined by problems with some northern core remaining so in terms of thinking what might happen i think these people are absolutely right. with regard to the consequences though i think they're completely

wrong in the sense that you have to ask yourself from the leaders of europe after all stem cells how can you imagine prosperity and stability for europe under the current setup what is the mechanism through which countries of the moment malard in not just a recession but frankly a depression through which those countries can regain prosperity comic growth and stability i wish they could tell us something along because all i hear whenever they have a summit is they keep banging on about various forms of debt support and never about economic growth now i do think it's possible to imagine return to economic growth in the current setup by contrast if the euro breaks i can imagine economic growth so far from being a disaster i think it could be the major step that leads to the restoration of growth in europe and what about these attempts to shore up the very same that we've seen recently another bailout for greece cheap money flooding international banks

from the e.c.b. they going to have any effect well i suppose it's possible to keep the whole show on the road that way if the northern countries are prepared to carry on shoveling this money into the southern countries although i frankly i think that there will come a limit because eventually the sums involved are going to be absolutely enormous and voters in the northern countries will say we don't want all this but even if the continued shoveling of money does take place which people to show on the road again that doesn't actually bring economic growth in the self all it's doing is preventing a financial collapse whereas these are countries that have undergone a very big drop in output and they've got huge levels of unemployment and is what we're seeing just purely a kind of fight between politics and economics is the reason that i'm going to muckle for example is so desperate to keep the are they together because it's the major political project that germany. has implemented over the last thirty years or say i think the politics of the economics are really very closely intertwined and

it's often difficult to work out where one stops and the other begins. i think you have to appreciate that the european elites didn't have a pretty firm grasp of the economics from the start now i think they're getting the economics completely wrong that's to say their opposition to the idea of their fear of the idea of euro break up isn't just about the politics they think that the economics point very strongly that way as well because they fear the financial chaos that would stem from a euro breakup and they don't see the benefits to economic growth so i think they are opposed on both economic and political grounds and we talk a lot about about that the collapse of the year essentially but all through this the currency has been oddly resilient hasn't it only really winding down now from quite a decent race against the dollar what do you put that down to i think this is a really big puzzle quite why the euro has been so strong there are reasons that

one can put forward or are not myself completely convinced by any of them but one thing the thing to bear in mind is foreign exchange markets are notoriously short sighted and the argument against the euro has always been that essentially it will collapse through the way through its own contradictions as to when people trade on able to say world exchange markets tend not to like to bet on things like that you know something maybe next year maybe next month maybe in five years time it's not a really very solid thing to go on then there's also the question of what form the euro might take if it survives because it's the we could countries leave the eurozone arguably the euro's going to be a strong currency so very far from selling if you thought that sort of breakup was going to happen you ought to be buying it if the euro does become a current seed that applies to many fewer countries will it still retain its attractiveness for investors or are we looking at a return to dollar. nomination for example oh i think that the euro could continue

to be a very attractive currency indeed for many people it might be even more attractive if you could imagine what's going to happen is the departure of the weaker peripheral countries portugal italy greece and spain. perhaps even problems that the euro is as it were great to do its markets germany and its close satellites and it's going to be rob that car currency area very much presumably the way the germany used to be run under the doj model and accordingly i think investors will like the currency really very much thank you very much.

nuclear file the side. radioactive fallout of government betrayal the government of law and laws and lauded and claude how can the truth be revealed if there's no official evidence there was a very great danger to the servicemen concerned who would give a low problem for to action and to the people of this country generally because of radio like due for. the secrets of the u.k.'s nuclear tests it's just. too much brighter if you move from phones to pressure.

me please don't totty don't come. u.n. monitoring team leaves a key combat area in concern for its safety in syria a country we're now even loose links to the government stirring ordinary civilians into rebel targets. the f.b.i. hunts high profile data leakers within state agencies the u.s. government and lawmakers are criminalizing certain kinds of information spills while deliberately planning their own. conversational trial of an anti putting punk band and jurors it's file stage with a female trio facing up to seven years in jail for storming russia's main cathedral . funnier. here now to bring us the latest sports and just what the doctor ordered for team russia at the olympics on monday it certainly was four goals became seven

they took a while a few days marina we had to wait for it but finally we got the gold as well all for the motts and athletics were not coming up in just the second. thank you for joining us this is for today we have got plenty ahead for you including all this lovely lovely stuff. best bargain on the seventeen year old stuff and that claims gold on the most successful day yet for team russia the london olympic games. keeping the pressure off. from behind to be moved up to fourth in the russian. rolling on the river surf on a horse power combining once again up the russian surfing championship.

russian pole vaulter yelena isinbayeva looks set to call it a day on her amazing career after feeling to retain her olympic crawl and the world record holder forced to settle for a bronze in london the spice relatively low there were plenty of highs besides on day ten of the games under the former reports. well behind me on the houses of parliament images of great sporting moments from olympics gone by but unfortunately london two thousand and twelve will be again julian is in by over will want to forget the russian pole vaulter failing to make it in historic three olympic golds in a row having to settle for bronze after failing to clear for me to seventy five the usa genesis did make that height to claim gold ahead of the silver byron standard the russian will be desperately disappointed before the game she did say this would be her last competition bringing to an end incredible career for the former olympic and world champion who has set twenty seven world records but while she was

struggling did light up the track in the women steeplechase the russian claiming gold with a personal best of nine minutes six point seven two seconds the fastest time in the world this year adding the limpid title to her world and european crowns and there was a bronze for you kenya in the women's shot put ops to choke from bellary use got the gold elsewhere there was a tremendous cold for russia in the gymnastics seventeen year old stuff and claiming that in the uneven bars beating the defending champion haye kicks in from china with an impressive score of sixteen point one three three and completing a fairytale comeback from a staff and paralympic during the period to be in tatters just over a year ago when she repeatedly ligaments but she has bounced back in style giving russia their first gold in artistic gymnastics in sydney two thousand however former soviet great olga korbut says the country still needs more coaches. to pursue. their interests and plans for. that which the

article just go away. which while denis albion's in was doing his best to restore russian pride after a bronze in the floor exercise he got a silver in the vault behind careers hacks on yak rush's artistic gymnasts now have seven medals compared to the. two bronze they got in beijing elsewhere there was a second gold in two days for russia's greco-roman wrestler's this time is alan krueger five hundred million pick champion beating egypt's cutting you put him in the final of the eighty four kilogram section the russian is ranked number five in the world in his previous best was a silver at the european championships but he showed a real step up in class to claim gold in london while saw quite a game of golf got bronze in the sixty kilogram section finally the fallout from russia's poor performance in the shooting continues the head coach had resigned in ny the head of the shooting union has said there was a bad spirit in the camp we had little. choice but i must admit so i told you was

a factor of the team spirit was far from good but we have a lot to do this respect however they give their all of the olympics and i am proud of them all our team are still one of the best in the world we were very close to claiming much more podium places but luck wasn't on our side. so not a perfect day but still the best day so far for russia at these games it is just a great shame he leena isn't by over couldn't bow out in style andrew farmer r.t. london. as one legend leaves the scene a new rising star has emerged karami james is no doubt smiling from ear to ear today after a canadian clean the caribbean islands first ever gold medal in your all storming the top of the podium in the men's four hundred meters well clear of bell teenager dominican do well in south toss in second on the long day gordon all of trinidad and tobago who came bronze with the display james becomes the fastest man in

history over the last. surprise or in the men's four hundred metres hurdles final with felix sanchez turning back the clock to the second one pick gold in the event the thirty four year old american who did the business up with us to talk to him for edging american michael kinsley all the fuss is mom this year in the discipline of your cool sin from puerto rico knob it's. history was made meanwhile back indoors out there to stick gymnastics men's rings final twenty two you are for a number of teams and that becoming the first gymnast from brazil to win a medal of any color in the rings after clinching go to netanyahu defending olympic champion and favorite chen weaving of china. so let's have a look at how the medal table. right behind france in six this with seven gold seven teams silver and bronze medals while china have again overtaken the u.s. at the summit with team great britain and northern ireland sitting very pretty

indeed just behind the two power. not if at all six russia said as he begins to settle into retirement michael phelps can reflect on the performances which made him the most decorated olympian of all time the american now has twenty two medals to his name it tingles it was former soviet era gymnast reset latina whose record he broke. to gather in new york about a month ago. you know being able just to be with such an icon and a legend through some of those very special to me and you know being a part of history and you know having her support through the whole thing and you know definitely mental. let's get an update on sport from outside the olympics spectrum now in russian football. bottle from behind to be vulgar to on monday meaning they move up the fourth in the

premier league in the process alexander how do you top off the opening the scoring for the hosts a quarter of an hour in. the lead would last until eleven minutes after the break dennis part of dina's leveling matters after the keeper could only. shot one soon afterwards because our men secured all three points to remind your main care with a strike so blistering even the cameraman couldn't catch it to only be in the final score a second win in a row for the title hopeful it's. the result of being live on the fourth just a point behind the new force in russian football what's a perfect three from three for the two sides at the top of spartak moscow on reigning champions need some petersburg sure to have a considerable say in where the title resides this. right finally the second ever russian week surfing championships were held in moscow over the weekend plenty

at stake for the adrenalin chasers tuber not just the respect of their peers nikolai chills was there for us. it was bad to happen sooner or later surfing with the help of an engine this elixir for a new sport is the lights in france here in moscow wakes up in the new hate among lovers of will to schools with waves it's a premium throughout most of russia riders must make do with the ones they create themselves by the help of a boat after getting up on the wave using a toll road surface then discard and attempt to ride the wave in the fashion reminiscent of the sport's most famous cousin while the president of the russian blake said his federation sees the new style is certain to be a winner among voters fits innovating as the amount of participants our supporters as been growing every year and that is the objective of our work so we'll continue doing these championships every year in our athletes and improve the level of competition which i believe will make things even more exciting. vishy

a moscow hosted the second day of a russian wake surfing championships as well as handing out medals the aim was also to produce more professional reuters as many contestants were only starting to get to grips with the sport but there were plenty of experienced riders keen to show off a skills one of them and us this year. who came third at the fourth annual world championships in arizona last year. last year i went there without any expectations i just wanted to see the real world championships to get to know the world's greatest writers so i could talk to them and watch their talk last performances well basically that was mangled but i managed to finish third as well.

that was another of the country's top performers. who was crowned queen of the waves. was in no mood to relinquish his crown when in the main starts for the second straight year so through spills aplenty as the russian finals come to a close the next stop for the top riders here though is the twenty twelve wake surfing championships in arizona that's where the best of the best will gather to do battle for the second year running. all your sports tried to join me again under two hours time i'll be here but the weather is here and.

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