trying in one or two small ways to give it a bit of a stimulus but i think they're quite new initiatives and it's too early to say how much effect they'll have but in general i don't think they will have very much effect and so i don't think at the moment they're doing anything very much to help because there's an awful lot of talk about prioritizing the economy and it's the main thing that we have to work on but then on the same time you say that not very much is being done at all one thing is that they're blaming everyone but themselves first of all it was it was the euro crisis then it was the high high commodity rise in commodity prices and so they claim that the policy of a sterile should bring about the recovery but that it's been derailed by these unfortunate acts shocks but the policy of a sterile. is basically wrong when there's

a lack of private sector demand when banks are lending when businesses don't want to borrow when people are cutting down their spending because they want to reduce their debt when the government then adds to that sort of downward pressure on spending then it's no surprise that the economy isn't growing is does that come from an inherent misunderstanding of how economies actually work on the government's part so i do think it comes from a misunderstanding of how economies work you see i think the coalition came into office with a belief which was often expressed by george osborne that as soon as asperity was seen to be working as soon as the government committed itself to a credible plan of deficit reduction everything else would perk up there'd be so much confidence that the economy would start growing again but that was wrong because it's real factors not just. psychological factors psychological factors are

very important but it's the real factors the real market that is available to business men but cause them to want to increase. their business and the government was shrinking the market by its policy so it could talk up the economy all it wanted but the policies were pointing in a different direction austerity we now know hits the poor significantly harder than it's the rich presumably that means that during this recession the gap between the rich and the poor will why didn't even. yeah that's that's already happening real real incomes have been going down because prices have been going up a bit and of course welfare benefits are being slashed. a lot of a lot there are lots of cuts in the public services and the rich are better able to insulate themselves against some of these effects for example house prices in

london haven't gone down at all especially in the wealthy areas and in fact they may be going up a bit so the world of the wealthy has been well maintained but people who have relied on incomes from wages have been hit and of course there has been since the beginning of the. recession a very big rise in unemployment even more significant perhaps a very big rise in part time employment is happening jay graphically as well where rich regions get richer and poorer regions get poorer do you see a strategy by the governments in which areas that do economically well will apparently be rewarded while areas that do economically badly will be left to kind of fester and degenerate what's the economic justification for that well i think the government wants to back winners. and. and it believes that winners come about through self. through through act the private private initiative.

and so it wants to back back for strong and hope that that will encourage the weak but of course this gap between the regions has been longstanding and recently most of the world that's been generated in the last ten twenty years has been in southern england and so the gap between the north and the south which had been actually getting less in the mid medias of the century has last century started to grow again and economists seem to almost universally to reject austerity and embrace advocate borrowing and spending instead why isn't the government doing that well i don't think you're right i don't think the majority of economists do i mean the majority of economists say that the government is right to in its in its budget a budget deficit in its deficit reduction programs but it needs to do something

else but what they don't explain is how doing something else can we make consistent with a reduction in government borrowing. you know government reduces borrowing they say must reduce its borrowing then it's hard to know how it's going to do something else because unless it raises taxes for example that may be an alternative but very few people are advocating that taxes should go up so they're in this sort of halfway position of more or less there's no alternative to a stereotype but a stair it isn't a growth policy therefore the government should do something else but when it when you actually ask them what should it do. i think they should cancel a lot of the. sterrett it policy i think they should cancel the cuts in capital spending particularly and because of that that those schemes were ready to run when

the coalition took office and they have been put into cold storage they could be this is buildings building schools building building houses hospitals all these projects that were canceled because the government was cutting down its spending i think should be uncancel that i think they should be revived so you're saying you've got to speculate to accumulate in a way not speculate spend it what to spend because you see at the moment they're not meeting their deficit reduction targets they're not reducing the national debt in fact it's going up the whole time. and it and it's going up because the economy is going down the economy is what provides the government with its income and if the economy is shrinking the income of the government shrinks of the same type and therefore the deficit rises and something like that has been going on so the policy can't even succeed in its own terms one of your colleagues an economist called

james keane has suggested a scheme that he calls quantities of easing for the public saying that the debt that private individuals have needs to be reduced under the scheme he says that cash would be issued to individuals and those with debt would have to use it to pay that debt down and those without it would have a cash injection it sounds like a great scheme do you think it would work well i've suggested this as well in an article in the new statesman last week yeah that's fine i mean if you put money in that into the hands of the people. and make sure they as you say spend it in one way or another. then i think that gives a boost to the economy because they could even increase their spending and therefore set up a demand for shoes and clothes and. food and all the things that people spend money on and so that'll be good for business that's i think that's a good idea i actually suggested that the government give every household one

hundred christmas present time limited so they need to do something with it can't just put it under the bed would that kind of policy be popular people were constantly hearing that there is no money now i think it would be popular i think everyone enjoys getting christmas presents and people really expect them from the government we've seen a europe wide backlash against austerity what do you think prime minister david cameron's chances are of being reelected if he continues if continues if there's no change of policy if the measures that are now being proposed small or is ineffective as one thinks they may be then i think his chances of winning the next election a very very small. because i think that there won't be a recovery his best chance of winning an election in two years' time is if there are proper green shoots of recovery and people can see them and they feel they're

feeling better about the economy they're feeling better about their prospects they're feeling better go about getting jobs and feeling better about getting more income then i think he'll benefit from that and they're have a good chance of winning but i don't think anything like that is going to happen under present policy so i think their chances of losing must be very high it's a keynesian idea that capitalism is a way towards working less and having enough is the current economic crisis is a result of that so it's time that we fall off the rails well that was a very long run i mean that was a long run idea that keynes had that in the end a successful capitalism should enable people to work less. and enjoy life more and he thought hours of work over time. would shrink as we got richer but that assume that we wouldn't fall into these holes that you know that progress would be steady and you wouldn't have any more slumps but we're in we're

in a slump we had the big collapse and at this point the priority is to get as many people back to work as possible and get as much production as you can because that full speed things along speed the road to utopia. so i think you mustn't confuse the short what needs to be done in the short run and our long run prospects one of the things that the railed keynes's theory is this consumerism that we've all fallen to the spell of where we have to work more to buy more to have more are you worried that more crises will follow because of the way we work and because of what we're working for it's a very good question i think we are consumption mad society and in order to go on consuming we have to go on earning money by working and working harder than most people want to and getting into debt and then the whole machine is driven by

advertising and that does create a problem it means that as technology reduces the number of jobs and yet we all under this impulsion to consume more and what how do we see things developing what should happen is that on the whole we should give up growth as the top priority. and make sure we have enough work sharing so that people can get work but not most people working forty or forty five or fifty hours a week and then another fifteen or twenty percent not working at all or only working very part time we need to sort of distribute work better among among among people. who want to work and also make sure there's more leisure so people can pursue you know pursue things for their own sake do things that interest them.

and that's the way forward otherwise we're all sort of treadmill and i think. you're right they'll be more and more crises as a result of it. is the legacy no one should be proud keeps of scrap metal littering pristine arctic landscape buildings still ting over their foundation pipes being black smoke over the snow covered peaks the traces of the soviet industrial activity on the burgen archipelago don't make a pretty picture the guiding principle here is the worst the better that can do nine hundred eighty bearings work was a burgeoning mining community union was determined to maintain at all costs to typically located halfway between north america and western europe the space bergen

archipelago is part of norway with a special status that allows other countries to set up industrial bases here in the middle of the cold war it served as the us is ours westernmost outpost now it's one of the soviet union's last preserved relics. it is essentially a picture of what would have happened to the soviet union if it was cut off from any financial support for two decades it's a curious site for western tourists and i think it could be even more appealing for russian travellers the local administration is increasingly under pressure to bring the infrastructure up to more than standards if these modernization efforts are not very popular with tourist operators if you come into a very authentic place like. it should stay the way it is that would be my wish i mean that's the part of the you know authentic tradition here. i should not i would not like to have it in a shiny condition to be honest the time to change even for the better is not always

good for business something that even a local band has big. akin to when they try to add the morning russian songs to die repertoire the audience called old and wanted to hear it was a song to lift the million or. so.

turkey fryers back into syria after more to learn the inside of the same turkish village where five civilians were killed by syrian be striken when sparking days of mutual shelling meanwhile rebels have reportedly captured president asad cousin. italians fury over mounting cards to descends into clashes as thousands of students a march into major cities only for the government to save schools and not banks and now in spain it's civil servants who are marching for their jobs. and are wrongly accused russian student who was brutally beaten in the canadian detention

center faces a long and search and recovery his family and friends say their countries of origin his arm doing anything. mags it's all the latest sports news with paul. thank you very much to every welcome along with to the world of sports is what's coming up. title charge two sittings on jay remain on top of the russian premier league table with a to know when the nama. moving on up the reigning world champion sebastian vettel wins big japanese from freight to move within four point six championship leader fernando alonso. on the china crisis world number one victoria azarenka beats maria sharapova in the china open final in straight sets to claim her fifth title of the season. but first football and angie remain on top of the russian premier league

table following a two no when i didn't because having side had to do it the hard way they were down to ten men early on sent off after ninety minutes for the foul on the edge of the box but second off goals from eurasia off a strike from someone else are secured the way in that style outfit into in twelve in the competition. meanwhile the biggest games in the calendar went the way of say ask as they sit in rivals two nil at the illusion of the stadium to stay within two points of the leaders in second place after my group open the score in the fifteen minutes ok suki honda doubled since crossing fifty two minutes a sealing the final result of two milf. elsewhere exactly former champions rubin lost and call one nil pavel and not of it scored the only goal of the game in just the third minute with the when the perm side are up tonight in the

current standard. elsewhere in russia today the defending champions in nature approaching half time in their game of f.c. that is currently the goal of. the. over in england manchester united are coming to the end of their game at newcastle by only three nil thanks to goals from patry several jonny haven't seen tom cleverley taught them secured their fourth league win in a row beating us in the village to help us to goals from stephen colbert and alan lennon full of under points at southampton following a dramatic two two draw liverpool and nail mill unfilled. now to formula one where reigning champion sebastian vettel has moved to within just four points often on the lawns are in the overall standings as after victory at the japanese graeme free the german star to the race from pole position on his red bull was dominant throughout coming home twenty seconds ahead a ferrari is believed by massa. finished third head of the mclaren jewel jenson

button lewis hamilton vettel teammate mark webber couldn't come home night after he lost control of his car at the start of the race however things were much worse for the overall leader fernando alonso who had to retire after this crash on the first lot. so this is how the overall standings look at the reigning champion vettel is within striking distance of alongside as the german looks for a third drivers' title in a row he's now led the standings so far this season but is now just four points behind the spaniard. now to tennis and maria sharapova has been beaten in the final of the china the russian outclassed by world number one victoria azarenka going down in straight sets it was a poor start for sure up over as a ranker stormed into a fall of lead in the first set she directs me take it six three. belorussian totally dominant throughout and particularly in the second she dropped just one game raising to her fifth tournament win of two thousand and twelve. meanwhile

proposition well done to novak djokovic she was victorious she had to fight hard to take the first step to gain strength and joy with that song took a long time break but it's probably going much easier in the second taking six two to play his fourth title of the series. very special and. i haven't lost many matches in visit actually lose a match since i've been coming in beijing. only wanted the olympics a great titles now and i love this tournament i love the conditions here. now to rugby where new zealand have finished the inaugural rugby championship with six wins from six matches after they concluded their campaign with a thirty two sixteen win over south africa having wrapped up the title without going to spare the all blacks were looking to complete the series with a one hundred percent record but they actually fell behind in sweater the pace of bryan habana story for us trial to thirteen minutes as the house took. a half

time dressing down from coach steve hansen changed the complection of the matches to visit his friend for the games in the second period secure a rest six thing we know right now this one victory away from assessing the record among test playing nation is. now boxing great mike tyson has defended the current heavyweight division and in particular the klitschko brothers the ukrainian jew or have dominated the category for the best part of a decade but often criticised for their on spectacular style with some maybe even the pair boring. i think it's good it's probably not because very many people used to like. drama it's almost like a soap opera you know we were fighting but it's very calm very serene because the champions are that way because google groups fight you can't get away from there you can't blame be everybody in the vision so now it's the ice where in the

kontinental hockey league five games take place across the continent on sunday some of you i had needed a shootout to meet at bars and for three spartak moscow had no problems against a nominee many years the red and white plains before one victory over one nil win as i can now no regard and the other games ukrainian side on by john yet lost at home to that is well in the late game of the day sloven take on defending champions to nominate moscow in slovakia. so it's been a three weeks since the n.h.l. lockout was announced since then the k h l has gone from strength to strength with the world's brightest stars moving across the ocean but here are some of my spectacular moments the k.h. al has had to offer in the last ten days.

it's.

that is all from the water's ball from about with more in just under two hours time here on i'll tell you that.

well. it's technology innovations all the developments around russia we've got the future are covered.

overcoming a barrier like this seems possible. but then you create something higher. and when you reach stuff you. go do whatever it takes to get all the talk of the world on our t.v. my parents really truly honestly believe that what had happened was as a result of my father's exposure to agent orange i was born with multiple problems . i was missing my leg. and my fingers and my big toe on my right foot i use my hands a lot in my artwork i find myself drawing my hands quite a bit to me where my hands you know just as if anyone would. but

they do tell a story they tell a story of. oxen. wealthy british style. that's not on the. market why not come to. find out what's really happening to the global economy

with mike's cause or for a no holds barred look at the global financial headlines tune into kinds a report on our. line. would be soon which brightened if you only bounce around from funds to christians. for instance on t.v. dot com.