trying to watch an artsy it's just gone past hospice ten pm here in moscow let's take a recap of the headlines. for the hundreds of thousands of syrian refugees displaced turkey says its camps are completely full and once the un to set up a buffer zone the move could mean a potential military intervention into syria as the was continues to call for the assad regime to be deposed. beyond log on the e.u.'s credit rating is switched to negative as a relentless rounds of eurozone reaching so far failed to provide solution to the long lasting crisis that as a union's poor is member of bulgaria shelves its plans to join the common currency

. and separatism make the running as economic and social problems dominate regional elections in kind of those mainly french speaking to back the voting is now under way and have pro independence but about qualms the province could face effort referendum on breaking away from ottawa. right with the global economy showing little sign of growth we also president of russia second largest bank about what he sees ahead for global finances. and requesting president a very to their bank precious second largest bank it's really great to have you with us today gotten 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 when 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 this year. we seeing the global economy will not grow for more than two. 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 war because i'm exposed to solve and so on so you're not expecting any heartlessly working on all the second wave of the crisis i think there will be quite a long period of recovery which will be more than the one just mentioned the problems resolved 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 will be resolved but at the end of the day everyone expected any sharp decline in the quantum well you just mentioned to you. crisis which is really sharp at this point are you concerned about a possible impact on your business because of that stuff because 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. leaves 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. russian making sector will be affected as a world i want to 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 aren't 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 around 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 in all to resolve it so what is it like growth. versus hysterically what do you think is the bear well this year will will produce a negative growth and of course storage is another problem because it will not help to resolve the question of growth and the truth of the situation so i think it should be a reasonable approach to authority 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 europe but on the other hand i think the government. support for the money still will be required in order to produce 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 on the other. i still believe there will be enough political will on part of the united europe to keep all countries within the european monetary union or within the eurozone and the greece to breeze over the end of the 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 or the. other currencies and there's been four months of. track record frank over the last few years. so it's 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. the world with the potential. for chinese yuan to become another one and i think with the possibility or russian ruble to become a. regional currency for settlements and maybe even the reserve currency for poor soviet union territory that was going to be 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 of these the every need to trade in the roubles and for these i think ruble should show a good track record of being a stable car and so predictable currency and i think what is due to providing a more flexible exchange rate for ruble is a good thing and provide more flexibility on the other hand him over the for the ruble if 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 debt 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 this year on the other hand does not provide any and for you for for growth like china no matter that the slowdown is of china rules do provide the medium but just for the global growth so merica of course has its own problems and the major one is the great budget deficit partly. 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 slowing down a little bit also along with china some key economies 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 emerging market area will be four times higher than the ones world so still there i think the main area and that's for example we should be where we focus on for the next five years for example now you of 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 for example last year i guess there were some deals 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 over doesn't happen overnight it's a process you need to work on those specific things and the one of the keys you for

meetings that the liberalization of trades and investment in the region and of course this is a region with a very different level of countries with countries with a very 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 we have are. going to mean. states and russia by the way which is also. the future is one of the leading member of the region and for russia i think it's absolutely vital to focus on the asian site because we will all be looking for europe and we have a very tight relationship in economy with europe but taking into account what will be 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 global cooperation the neighboring countries like china south korea japan and others we can bring investments which can growth for russia so i think for us meeting is extremely is to be important but let's look at a little bit russian economy because up to one hundred billion dollars are expected to outflow 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 concern. on the global markets investment investors today not investing very much they prefer to sit and care and wait and see because it's top of the interview with the word relativity i 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 take for example far east there's 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 investment climate which can prevent us from doing this. and that we definitely number one task for us he's 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 russia's economy a lot of the oil prices still remain the major risk for the russian economy today and the question how to fit into a prank thank you very much for a century you think. wealthy british style. like the. market why not. find out what's really happening to the global economy with mike stronger no holds barred look at the global financial headlines kaiser reports on our.

technology innovation all the developments from russia. with hundreds of thousands of syrian refugees displaced. and one thing you want to set up on. the move could mean a potential military intervention into syria the west continues to. deploy. we'll look on the e.u. has a credit rating and switch a negative as a relentless rounds of euro zone meetings so far failed to provide solutions to the long lost and crisis that has a union's poorest member bulgaria shelves and plan to join the common currency. and separatists make the running as an economic and social problems dominate regional elections in kind of those way new french speaking kit bag the voting is

now underway and they have pro independence but people with paul wins the problems could face a referendum on breaking away from ottawa. but kate is here with the latest sports news. now welcome to the two sides for round up the headline. big deal leaders in these sign brazil strike aholic belgium would feel that it sold for one hundred million dollars time to clear europe. while test coach fabio capello because the his first test of the game is in charge of russia had a title like a football or a total northern ireland. back on ice cream deny moscow one is not having dogs three two on penalties in the season opening match here in the russian capital. but first of all the russian premier league

a dozen twice defending champions and eight have signed a brazil strike a hawk and belgian midfielder axel that sold for fifty million dollars each with hours to go before the russians lies have to submit their squads would play in europe to you a return or split the sides find twenty six year old. and twenty three year old with someone from portuguese rivals benfica each have been given a five year contract by the sentences club you have backed by any john gazprom so the top three enjoyed in group c. in the champions league where they outplayed ac milan and the like a malaga. one elsewhere prolific former england striker michael owen has signed for a premier league side at stoke thirty two year old let manchester united as a free agent in may the former liverpool royal madrid a new castle striker scored two hundred twenty one goals in four hundred seventy three games at club level winning eighty nine caps and netting forty goals for his country while meanwhile england are themselves looking for an early strike in their world cup qualifier in moldova on friday. you look at the pictures if you know

should be should be an easy game but you know it keeps on at this level no games no games easy. my space and support to speak french and sometimes in games that i could be patient and try to get an early goal of thing coming holes where you can only go. well meanwhile russia had been dealt a blow ahead of friday's i mean work that qualified home to northern ireland a spot six striker is out with a mind a knee injury a worry for new manager fabio capello who's already dropped captain and their share of and which of course reports if somebody capello want to stamp his authority on his new russian side he certainly achieved about he made the tough decision to drop former captain under the shadow of in there's almost been a neighbor present for his country over the last decade tolo the arsenal striker hasn't been in great form this season drama on 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 as he was always in the squad before but capello obviously wants to take a different path. 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 sheryl crow says 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're really motivated to play well whenever we put on a russian shirt we always give our best. there are a number of new faces in the russia squad who didn't really feature under former head coach to account for currents defies all in black and on the issue all relative if you knew him for the latter who's already twenty eight his call up came as a bit of

a surprise. to 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 earthly on friday however they are expecting a tough physical battle against a side during the one hundred one in the world of fabio capello's 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 the first world cup since two thousand and soon or capello's already made a bold statements by dropping former captain andrea sharp and then he'll be hoping to play is what he selected can help russia get off to the perfect start in the world cup qualifying campaign with victory over northern ireland on friday richard darty moscow. champions damaso have edged runners up on god st so on penalties to get the new season underway with the traditional first versus second in ice ok i like that goal but nothing more important goal for the habs side now

this match is also now called the law forty five named in tribute to the yaroslavl team that was killed in a plane crash on september the seventh last year and is now back in the tournament this season on the rebuilding my swan told me while the victims will also be remembered by canadian legends such as wayne gretzky and mark messier who arrived in russia to distort matches on friday their team will face former soviet greats morris level on wednesday a match will take place isn't petersburg to commemorate the famous summit series the two nations showdown was first held forty years ago and the canadian superstars are happy to reenact those battles. were just really excited and thrilled to be here and a chance to see all the great players that were part of knowing 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 sharing his experiences and this is really. a dream come true in many ways.

tennis now in french open champion maria sharapova is looking to reach her third grand slam semifinal of the year she takes on marion bartoli at the u.s. open. all four previous matches against the french eleventh seed and a fifth victory would see the world number three face either top ranked victoria azarenka or defending champion sam stosur. while on the men's side holder knows that drop a bitch will place fantasize about brink of switzerland the winner could next phase when martin del potro who is up against retiring monday roddick in a battle of former champions for things out of vera is currently taking on the show i guess case for young politics are if it takes on a political show about. boxing now i would just four days to go until their title fight here in moscow the b.b.c. heavyweight champion the thought that it's go and challenge among will charge have met a peaceful press conference here in the russian capital twenty seven year old german

citizen char is unbelieving in twenty one fights with eleven your parents and also the first box of syrian origin to thank you see title back forty one year old klitschko was relaxed and top up the fight char praised his opponent but still aims to keep that. you. know. i know many who think 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 picked a strong opponent who is ranked in the top ten world ratings. it 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 which go they won't be laughing anymore. goal of now world number one rory mcilroy produce a blistering final round to win the georgia bank championship by one stroke on the final hole in boston the northern irishman as latest drive comes three weeks after

winning the p.g.a. championship and saw him overturn a three shot deficit on the final day to south africa's toys and with tiger woods a shot further back well mcelroy carded a sixty seven and had an electrifying start with three bird is on the first four holes and took the outright lead on the fifth to an who isn't drove his ball into a hazard however the south african didn't manage to keep it close right up until the eighteenth meaning marco needed to sing this to be sure a victory but it was agonizingly short and he then had to pray. missed his birdie effort to avoid a playoff. i which he did handing the twenty three year old the title and top spot in the fed ex cup standings which guarantees mcelroy and shot at the ten million dollar bonus at the top championship later this month. finally to write a sports where the g.t. won while championship and the g.t.

three european championships have made their debuts here in russia where the drive as i overcame bad weather to move up in the standings was more just like charles. not only was it the first time that the g.t. championship had come to russia but also for the first time dishy both the g.t. long world championships and the mostly amateur g.t. three european championships lined up together on the same grid. despite bad weather and little knowledge of the newly built mostly raceway track the drivers were quick to adapt belgian audi club team w forty completed a solid g.t. one qualifying race lawrence went full and the front of the telly secured board position well oliver jarvis and frank steep finished third at the same time g.t. three championship leaders maximillian burke and dominic bowman won the battle with the treacherous conditions to take the first race when it's

a first time we were assisted you want guys. yeah i had a lot of fun it was not easy to own contact with them just to do my race my talk of was to get a good gap to the good of the team is very guys but overall it was a great race meanwhile nova driver pay me a modem and say is a company car claim they made in g t three victory in an incident packed race two while the better than g t one was in full flow but it wasn't without its glitches as the safety car had to be deployed twice due to standing water on the track however it was the hicks racing mclaren team who. did the hard four want to finish this off on the we had an amazing car and. did a fantastic result and again also for the championships well that's beautiful doesn't we don't hear a russia the mclaren drivers secured victory by over twenty five seconds which puts

them back in contention in the driver's championship second was the seats the car of alviro put in to and did what jim was did while stipulation jarvis took third bringing to an end a very challenging debut in russia. chose. moscow region and as well as focused as i.

in his first t.v. interview since his inauguration.