hello and welcome to our team karen taraji with a quick recap of your headlines the outlook on the used credit rating is switched to negative as the relentless rounds of eurozone meetings so far failed to provide solutions to the long lasting crisis that as the union's porous member bulgaria shelves its plans to join the common currency. what hundreds of thousands of syrian refugees displaced turkey says its camps are completely full and wants the un to set up a buffer zone a move could mean

a potential military intervention into syria as the west continues to call for the assad regime to be disposed. and separatists make of the running hours economic and social problems dominate regional elections and turn of those mainly french speaking quebec a voting is now underway and if pro independence hall to cuba while wins the province quote face a referendum on breaking away from ottawa. but the global economy is showing little sign of growth we asked the president of russia's second largest bank about what he sees ahead for global finance it. and requesting president a very to be

a bank precious second largest bank it's really great to have you with us today after so you've had it made to be for the last ten years and you've been there in two thousand and eight and you so everything when the financial crisis broke out now the global economy at this point is really not much better off i mean you have the eurozone crisis unemployment in the united states is still really high and even china is really had it for a hard landing if you compare things today to four years ago how bad are they i think we have to accept the word volatility it's become part of our life. of course the world economy he's passing the door of the cycle and we expect that when there's two or three years it will be quite difficult for the global economy and would not be very easy for the russian ones for example. we think the global economy will not grow for more than two to half percent so

because of a growth of slowing down but we don't expect any problems like we experienced or in two thousand and eight and the world economy stupid to solve and so on so you're not expecting any heartlessly were no nor the second wave of the crisis i think will be quite a long period of recovery which will be more than we do one just mentioned the problems we should resolve one of the issue of course is the crisis in europe and there's still a lot of still not very clear how these courses because all but at the end of the day everyone expected any sharp decline in the quantum. well you just mentioned the european crisis which is really sharp at this point are you concerned about a possible impact on your business because of that list of course there's no direct exposure of the russian banking sector to all european banking or financial sector but our concern of course is that the european recession will lead

happening already here too we could demand for our export goods such as what we see in the metal. and in the future if it can lead to the drop in the oil prices that will affect our clients and through the us the russian making sector will be affected as world and i focus a little bit about the recession fears that you've mentioned spain's banking system obviously being the biggest problem at this point because you have all the depositors pulling out their money out of the banks and everyone's fearing that something really bad going to happen do you think something like lehman story could repeat itself or even worse because american that injected a lot of money unconditionally to their banking system europeans are ready to do that but i think this was a good lesson for everybody and i think. no one wants to. be this experience because lehman's lehman's collapse to

a chain reaction all the world the world and particularly america so i think european union will try very best to protect the spiritual banking sector but of course quite right i mean the if we take europe. one problem after another we have a problem in spain portugal and you need to not only in greece so by resolving one problem we will have to face another one immediately and that's why i think the crisis in europe will be quite protected and of course it will it will require even more political will on part of the leading european governments the old resort so what does it lay. versus hysterically what do you think is the bear well this year will produce a negative growth and of course storage is another problem because it will not help to resolve the question of growth and through the two situations so i think it would be a reasonable approach to

a thirty plans but we still on the other hand have a very high budget deficit will around three hundred it be on part of the south rubin country so i think there will be a moderate approach there will be definitely. much more severe discipline on spending in south from europe but on the other hand i think the government. support for the mom still will be required to know the power to get in she reasonable growth and positive growth hopefully in europe next year what's going to happen to hear a let's say one year's time in your opinion my personal opinion the my analysts that . these are the dollar for example you are a little bit of a currency if all the other. is to believe there will be enough political will in part of the united europe to keep all countries within the european within the monetary union or within the eurozone and the greece who breeze over the

other day you mentioned recently that this was frank wants to say first currency to get their money out why is that you saw the well there's a number of reasons for the tightening up over the. other currencies and there's been four months of. track record frank over the last few years. so on to a very big stand still so it's frankly is a quite reliable. instrument but i'm not saying i mean i still believe that of course if we talk about currencies the dollar and euro will continue to be the major. reserve currency in the world with a potential. opportunity for chinese yuan to become another one and i think we would the possibility or russian ruble to become a. regional currency for several months and maybe even the reserve currency for.

that was going to my next question actually but we've been hearing about the possibility of russia becoming a regional currency for quite a while now maybe five or six years. what exactly needs to be done for that and what time limits are we talking about things happening to the standards already in the heart of the trade these channel through through through the ruble mechanism very simple things i mean the both exporters and importer should accept these that they're ready to trade in the roubles for the ruble she should show a good track record of being a stable car and so predictable currency and i think what this all begs do to providing a more flexible exchange rate frugal is a good thing and provide more flexibility on the other hand him over the for the ruble we talk about the united states a little bit people still look at it and expect for a to contribute greatly to the global economy forgetting that it really still suffering from enormous national ante employment is really high at this point in

regards to global economy is to us economic performance part of a problem or a solution at the moment did none of this in the. u.s. economy's developing. better than you are for example with some of the growth of this year on the other hand doesn't provide any and for you for for growth like china no matter the slowdown as of china the rules do provide me with this for the global growth so merica of course has its own problems and the major one is a great budget deficit. actually based on their growing medical care expenditures. but what is for me seems for sure that america will not contribute war to rescue the european economy you've just mentioned china is slowing down a little bit also along with china some key commies that kept the global economy

expanding like germany and brazil they're also slowing down so where will the much needed growth come from at this point still from from emerging markets i think this year the growth of the merged market area will be four times higher than the once world so still there i think that the main area and that's for example b. to be where we focus on for the next five years for example now you have course to be to be also chair of the asia pacific economic cooperation c.e.o. summit and the member countries that are going to zation accounting for over more than a house actually of the global g.d.p. but how is the app i get it especially the upcoming pack in russia going to help find new global resources for new global growth because if you compare it very simple last year i guess there were some deal signed you know company and government government with but hasn't really changed anything on a global scale it's a process i mean the doesn't help or doesn't happen overnight it's

a process you need to work on those specific things and the one of the key issue for meetings at the liberalization of trades and investment in the region and of course this is a region with a very different level of countries with the come to the different level of development for example and different structures of the quantum here but still as i mentioned before i mean that's one of the fastest growing region becoming a point of view we have china. indonesia. states and russia by the way which is also. i think the future is all one of the leading member of the region and for russia i think it's absolutely vital to focus on the asian side because we all be looking for europe and we have a very tight relationship in economy with europe but taking into account what we

discussed before i think for russia it's vital that we will focus on our forums there's a huge potentials in the resources in there. in global cooperation the neighboring countries like china south korea japan and others we can bring investments which can be in growth for russia so i think for us. it's extremely is to me important let's look at a little bit russian economy because up to one hundred billion dollars are expected to out for out of russia i mean i know that investors could be uncertain about the russian investing climate before the elections but it's already been three months what's going on the money still going out well i think partly that is the general. on the global markets investment investors today not investing very much they prefer to sit on carriage and wait and see because it's top of the week sure you

would relativity think you would for a recent period of economic rules on the other hand i think we know all too well the problems which exist in russia from the point of view of. investment climate. domestic i think we just have to focus. on this if you would take for example far east as a good opportunity for bringing a lot of investment but the we need a really clear cut to government policy there's nothing in the russian legislation on the or in western climate which can prevent. from doing this. and that we definitely number one task for us to change the nature of what we call in the me to make it. focus on investment growth rather than resources growth because again we can talk about the prospects of the economy but we

always come to the conclusion that if you all price for your alls will go below ninety five dollars per barrel russian economy will be in trouble and so is the main and major risk for russia's economy a lot of the oil prices still remain the major reach for the russian economy today and the question had a fit to be frank thank you very much for this interview thank you. wealthy british style. market why not. find out what's really happening to the global economy with mike stronger for

a no holds barred look at the global financial headlines kaiser report. the outlook on the credit rating is switched. around euro zone so far but solutions along. the unions force member bulgaria sells its plans to join the common currency. but hundreds of thousands of syrian refugees displaced. he says its camps are completely full and want the un to set up a buffer zone the move could mean a potential military intervention into syria as the west used to call for the of saddam regime to be disposed. and separatists making the running as ak anomaly and social problems dominate regional elections and one of those mainly

french speaking on the back of the voting is now underway and pro independence party cuba qual wins the province could face a referendum on breaking away from ottawa. by an incredible bond for the neat the lovely kate has all the latest with sports. hello and welcome to the latest for this tuesday in the final week of the football transfer window here in russia and these are the top stories. big deal league leaders in each find brazil strike a whole town belgian midfielder x. over it sold for one hundred million dollars in time to play in europe. while the first test coach fabio capello prepares for his first competitive games in charge of russia without captain and they are shot in the head of friday's world cup

qualifier i tell him to go all the while and. just talk for andy murray beats milosz right on it in straight sets to cruise into the u.s. open quarterfinals for roger federer i don't walk over. but first of all and russian premier league leaders and twice defending champions in eat have signed to brazil strike a hawk and belgium midfielder made field even axel vigil for fifty million dollars each with just hours to go before the russian side has to submit their squads who will play in europe you wait for china split his side to sign a twenty six year old quarter and twenty three year old from portuguese rivals benfica each have been given a five year contract by the same petersburg club backed by anything giant gazprom sinitta have been drawn in group c. in the champions league where they'll play ac milan and electronics lalitha. told me while there is growing speculation about the future of christiane are now that rail madrid the twenty seven year old winger refused to celebrate his two goals during rails three know when it's time to go in order on sunday and told reporters

it was because he was unhappy at the club. maybe it's because i'm a little upset that's the only reason when i don't celebrate goals it's because i'm not happy people here at the club they know why i have nothing further to say. well meanwhile for those new striker the myth of a top has criticised his former manchester united manager sir alex ferguson at all gary a striker said he was unhappy at how he was treated during his last season at old trafford when the thirty one year old made only twelve appearances and says he wasn't given a proper chance to prove himself. pushing a simple stuff i did try to fight for my sport but in the end it didn't work that went out my goals in march as when i was a starter there's nothing to be ashamed of i became a premier league champion twice top scorer in the league in general with united every to the top of the game in the end i said my goodbyes with everyone who deserved it and i'm going to go on with my life in a different police that's a completely normal thing to do. well meanwhile russia have held their first open

training session ahead of friday's opening world cup qualifier at home to northern ireland this is a fabulous capello's first competitive game in charge and the first that dropped captain haven't which is an important reports. if capello want to stamp his authority on his new russian side he certainly achieved that he made the tough decision to drop former captain under the shadow of it there's almost been a neighbor present for his country over the last decade kolo the arsenal striker hasn't been in great form this season drama should all have say as it is a surprise not to see his former senate team mate in the squad i think it's a surprise that he was always in the squad before but capello obviously wants to take a different path. well i don't really have a lot to say about our sherman he's a good player and has played very well for us i think it's a shame that he's not in the squad. russia play their first world cup qualifier against northern ireland on friday and will be looking to qualify for football's

biggest tournament for the first time since two thousand and two capello has been given the task of getting russia to brazil and shock of say it's great to work with the italian and i said look here in theory the coaches have all been similar with capello though training is different but we didn't play well at the euros and we really motivated to play well whenever we put on a russian sure we always give our best there are a number of new faces in the russian squad who didn't really feature under former head coach to counter currents defies all in doubt as will ockenden the issue all relatively new and for the latter who's already twenty eight his call up came as a bit of a surprise. for you i'm really happy to be called up i think i have worked hard and that's why capello has given me a chance. russia's players didn't know too much about the northern irish team of a player on friday however they are expecting a tough physical battle against a side around to one hundred one in the world of public about those have just over

a month to get to know his new players but this is where the going gets tough for the italian as he looks to try to help russia qualify for will be their first world cup since two thousand and soon talk about those already made a bold statements by dropping former captain andrea sharp and then he'll be hoping to play as well he selected and help russia get off to a perfect start in the world cup qualifying campaign with victory over northern ireland on friday richard one hundred r.t. moscow. on to tennis now on top seeds roger federer and andy murray are straight to the quarter finals of the u.s. open but with contrasting the different routes murray comes to be won his match against canadian the last three on each changing a straight said victory within two hours and up next for the third seed is not in challenged the crowd easily beating one seeded mortensen on the beach the last date . for me was the one federer right after local favorite mardy fish withdrew for health reasons and of the swiss when next they checked promotion burdick for the sixth seed beat spain's nicolas almagro also is. the big names of advance men's

draw but there was an upset in the women's second seed agnieszka about a man's got crushed out in straight sets to get to these roberto di vinci for not taking part in it so it won't even go to hold. sacred final is altered by a surprise by knocking out informed german underneath her back in a tough to setter seven six six three was the high school is a breakthrough season for ronnie who reached her maiden grand slam quarter final this friday and open the january. had all his former world number one evanovich the serbian storage to a six love six four victory and that they don't give up from bulgaria just seventy seven minutes. next is an imperious serena williams the american steel wrote the check and there after facing just one break point the four seed has dropped only twelve games in her four matches and rushing meadows this year ago is playing down her indomitable form. i want to sit on the grass started out strong in the

tournament i feel though today i'm getting more comfortable with the court and comfortable with the conditions that i'm getting back to more smy game which is good you know i like doing you know i like to play better during the second week so hopefully i can do that. well serena seems unstoppable in the singles but she and elder sister venus are out of the doubles tournament the russian of nadia put that over and maria kirilenko knocking out the reigning wimbledon and olympic champions in straight sets six one six four to move into the quarter finals. of the gulf now and world number one rory mcilroy produced a blistering final rounds two in the georgia bank championship by one stroke on the final hole in boston the northern irishman latest triumph comes three weeks after winning the p.g.a. championship and saw him overturn a three shot deficit on the final day to edge out south africa's best toys and with tiger woods the shot back well mcelroy carded

a sixty seven and had an electrifying start with three birdies on the first four holes and he took the outright lead on the fifth when toys and drove his ball into a house it however the south african did manage to keep it close right up until the eighteenth meaning michael really needed to sink this to be sure a victory but it was agonizingly short and he then had to pray ers toys and missed his birdie effort to avoid a playoff. which did handing the twenty three year old the title a top spot in the fed ex cup standings which guarantees mcelroy a shot at a ten million dollar bonus at the tour championship later this month. i don't need to be finishing off the air but i like to know i got there in the end so you know very happy third victory of the year and you know great to get a victory in these playoffs you said you know great position going into the next two weeks. on to boxing now i was just four days to go until their much anticipated

title fight in moscow w.b.c. heavyweight champion the thirty kitsch go and challenger men will charge have met at a peaceful press conference here in the russian capital twenty seven year old german citizen char is unbeaten in twenty one fights with eleven knockouts with their protests also quick to point out that world champion klitschko would be taking on the first box of cereal origin in a w.b.c. title fight more forty one year old ukrainian was relaxed and talked up the fight while channel was full of praise for his opponent spite wanting to document it. but most of sir i know many within my opponent manual char does not have a big name or much experience but he's a boxer represents the new generation and as reigning champion i can't simply fight against anyone anymore we've been the strong opponent who's ranked in the top ten world ratings so is my dream to have come this far to be able to fight klitschko and of course now people are laughing become saturday when i knock out klitschko

they won't be laughing anymore. my. and finally the new ice hockey season gets underway this tuesday with reigning champions damo moscow hosting runners up on god in the traditional first vs second cousin raiser this match is also now called the local team top named in tribute to be our savile team which was killed in a plane crash on september the seventh last year and the top is not back in the tournament this season to rebuild and that's why well meanwhile the plane crash victims will also be remembered by canadian legends as the likes of wayne gretzky and mark messi have arrived in russia for a couple of matches their team will face form a side of a great senora seven floyd a but it's before that a match will take place in st petersburg on wednesday to celebrate the famous summit series but tonight showdown was first held forty years ago and the canadian superstars are happy to reenact the battles of the past you know we're just really excited and thrilled to be here and a chance to see all the great players that were part of no you know canada's team

but the russian team also in the hospitality your has been tremendous and we've got a wonderful time thank you for the invitation coming over here and seeing everybody again next year and his experiences and this is really. a dream come true in many ways. and that's all from this post ask life and. well. it's technology innovation all the developments from around russia we've got this huge area covered.