i'm joined today by dr max also a professor of political administration and author of the books investing rather than saving and the delightfully optimistically titled the crisis is coming to talk to us a thanks very much for speaking to me my journey currently finds itself in a relatively decent position economically can it keep that up germany is not at all in the driving seat germany's economy is functioning but germany is driven rather than driving by the processes that are going on unfortunately i think the current system will last for a while because the european political elite really has sworn to defend it whatever the costs and the car sign norma's so really the current system is hurting europe we have to make some changes but i do think that the current rather detrimental state of affairs is going to continue for quite a while where you say germany isn't in the driving seat what can change that well

what we do right now is we have the fiscal union which is austerity which means we save on the back of people of tax payers in the south and in the north the euro has created the problems because the euro and that's what i predicted in ninety eight ninety eight in a lecture at boston university that the euro will create artificial blooms in some areas and artificial busts in others because we don't have an after them currency area and that's exactly what happened of seoul it created a competitiveness problem for themselves because wages went up and so on but they couldn't devalue any more and that's the root cause of the problem and we're trying to mistakenly correct that and rectify that by. by saving by public by by cutting down public deficit which will not work in the situation and at the same time we're saving on the one hand on the other hand we're having a hugely expensive very monetary policy that we have stepping on the gas pedal was

one foot and on the break was the other and that's the frightening and so one would have to ask. who benefits from that kind of policy they said that cutting deficits wouldn't work perhaps would getting rid of the euro. getting rid of the euro would be very painful it would work in the long run because we had a perfect system before the european monetary system which was just the right mix of flexibility and stability it was a stable system but you couldn't just that if things went out of hand so that was a good system going back there theoretically would be great in practicality it would not be great because it would be extremely painful but. what i envision is that some period some countries leave the euro like greece and maybe later spain and portugal italy not so a flexible union countries that are not ready to stay in should leave and that's

not the end of the eurozone quite to the contrary it would strengthen the euro zone but the european political elite is basically upholding a dark mark if greece fails meaning greece leaves the euro greece has failed horribly greece is basically a failed state but they say of greece fails the euro will fail and europe will fail all of this by itself is wrong and in this connection is also wrong so we have to ask again who benefits from that state of affairs is there a chance though that we could see a champions league monetary union created with the likes of germany austria the netherlands and other countries with underneath that eight second tier of monetary union there's some proposals out there to really split the euro into a northern europe the southern euro southern euro or. there are some proposals out there to really split the euro zone into another and so on and the southerners so on but that's not really working that will not work for political reasons you

cannot split france and germany then france will be really let's say insulted that's just not politically feasible if you do that then you might as well get rid of the euro completely so france would have to stay in the champions league and so that by definition would be very difficult in that sense. and also who's going to lead the size and so on who's going to be the point around which they will rally so the mind boggling the problems around negotiate such an arrangement getting countries on board so they're much more flexible and also i think sufficient approach at this time mr have individual countries opt out if they just cannot comply was current policies and of course reach should leave rather today. and not tomorrow because it's really clear the policies are not working we're really having the austerity program which puts the country deeper into difficulty is the g.d.p. is shrinking people are suffering the only people who are saving is the financial

elite is the oligarchy that has been ruling greece for about two centuries because we save the banks so we save the banks and the creditors at the cost of the people and that's not right so you saying that it would be better for greece to leave the euro take extreme hardship for say a generation and then benefit in the long term it would be extreme hardship but we do have extreme hardship right now also i'm not sure how much more extreme it can get and would not be a generation or in my in my projection would be about five years three to five years and of course if they leave the euro zone. the european countries should stay solidary they should give. measured aid they should give support projects this. should supports a bang so we're it's not the end of european solidarity but it would just be a healthy arrangement now looking at some of your work you seem to suggest that there's a problem with the german mentality when it comes to taking things forward economically

. yes i mean some of the factors in europe are still the same france is pretty much behaving like it behaved one hundred fifty years ago england is behaving that way. russia will see but one country that has really changed and they mean there is a skilled complex we can say it openly still from world war two and we believe if we just give up sovereignty and german interests we will have europe but that is a little the jumpers a little softer so to say i mean less germany doesn't mean more europe. if germany has viking ships it should use them to create a stronger europe but i doubt that we do it by creating vs by supporting an unsustainable arrangement was the euro as it is by doing a fiscal pact which is basically strangulating european economy so in that sense

germany should indeed assert european interests i would say more strongly that interest you what are these bargaining chips the bargaining chips are not many anymore and we gave one way again which is the yes and which is i mean still european increase in the capital of the years still requires. a scent of parliament and so on but parliament really is lame parliament a sense because the major parties in coalition government and outside always agree to stock up the capital so there's an encroachment upon sovereign budgetary rights and the parliament is not defending those but basically that's the last bargaining chip our sovereign budgetary rights and i just clarify there by e.s.m. you mean the european stability mechanism not say a pox whereby all the countries put money in and it's given out to those countries that need it most will not work in your opinion yes that years and missed the big

part european money will be distributed somewhat like the eye. i.m.f. and it should the money should flow to countries and problems. under certain conditions at this point how it's constructed we give ever more money to that as a result saving solving their problems. and the money is just flowing and basically exacerbating a prolonged poor along the current unsustainable situation now german chancellor angela merkel's always been a big supporter of the eurozone saying it must stick together is there a chance that german fiscal decisions are being made based on political decisions because looking ahead to the elections will be taking place here next year well marked with the case is very much listening to the other countries at some point in december two thousand and three and sarkozy's said after the consummate if response to leave it can leave we're prepared but there was a short short blink of truth but the dark my is europe has to stay together and

it's basically a dogma based on wrong premises to blackmail germany to blackmail the novena countries for the benefit of large financial institutions for the benefit of what i call financial oligarchy for the benefit also of course of the southern countries and the elites in the countries but wouldn't a greek exit from the eurozone be devastating for germany economically germany would be heavily affected if it left the eurozone that's why almost nobody is for it in germany it would be extremely costly once again but so far in history every monetary union at some point has come to an end if there was no political union so this union will come to an end but it will be way in the future so the pain is not big enough so you suggesting that a political union could be what's needed to save the monetary union. i'm a firm believer in the fact that germany should play its strength more actively

should have a more active stance in the negotiations but also as most germans are really dream of a united states of europe but then we have to start with a parliament that it's worth it it's name a government that is elected by the parliament not a commission we have to start putting together the true parts of high politics like defense security those things have to be integrated and we can have principle of subsidiarity for economic policy so right now we're building a technocratic euro for the benefit of certainly leads for the benefit of the political elite for the benefit of the financial elite which is not really a citizen to europe so you're suggesting that germany should lead the way in convincing countries that would be in this united states of europe to essentially give up sovereign rights germany cannot lead by itself this german french tunde has to work it's a difficult time them and i'm not sure we can really make it work but even sarkozy

and merkel have learnt to work together but martin has been to yield ng so i'm not sure how the french german tandem will work once romney becomes a bit more sort of. points to basic things that have to be done but without french german cooperation on this it will not happen just one last question in the past you've predicted doom and gloom for the eurozone how to predict its future right now right now i'm predicting that this unsustainable and to some extent pretty bad sort of just going to continue nobody has the power in the world to really solve it . but everybody is of course concerned not to read let it disintegrate so i predict more bickering more economic hardship more muddling through for at least another two years because the e.c.b. is printing money like crazy so we're going to sustain an unsustainable state of

affairs for another two or three years you make it sound like a failing marriage it's certainly a quiet failing marriage were partners have not given up on each other yet. looking to the future the doctor also a pleasure to speak to thank you very much michael it's a. most the strangest attempt of a military takeover. the us president trying to overthrow a foreign country's government but his strategic game was lost. and america recognized its defeat. question a skiff cuba managed to cope with its victory all don't talk to all forget author

page i leave you think you are you go but the rajab either live via the cuban missile crisis games and reality t.v. . download the official application to yourself choose your language stream quality and enjoy your favorites from atsushi t.v. is not required to watch all its he only needs your mobile device to watch ati any time. over a decade north of almost terrorist attack. x. hostages bluntness into their lives after the tragedy.

still gives try to cross out the past. because their future. be written. surviving terrorism ten years on r.g.p. . good leverage surely to mccurry was able to build a new most sophisticated robot fortunately dorna found anything tunes mission to teach music creation why it should care about humans in the world this is why you should care only dog calm.

and. machine gun a rifle warning shots are fired in beirut as a supposedly peaceful protest against the syrian leader turned sour the opposition and al-qaeda flags seen in the crowds. a deadly blast rocks damascus as the u.n. peace envoy meets the syrian president trying to broker a truce in the conflict in country. and in other stories that shape the week thousands are killed as the under siege former stronghold of upon a definite season another assault by pro-government militias a year after the western backed libyan rebels. and scholarships between police and protesters in london where more than one hundred thousand. cops being imposed by

leaders. as our top stories from but with more in fifteen minutes from now meantime sunday sport is next with. well the basis of the headline. big battles discovery ten hunger being to regain second spot off the track when a town caught and state good at the top sides keep up the pressure on me designer jeans in the russian premier league. moscow at the line but not to be tried in another three set marathon dr atomic some studies and when the kremlin. thing up dani pedrosa wins a writing short malaysian military g.p. to cut a hole there in the end zone over a week to twenty three points with just two races to go. the first that kicked off with football where tesco are back to within just two points of leaders and she

after winning two nil it's home to ten man rubin to leapfrog back into second place in the russian premier league discover mistry gets a do doing bia and akhmed made up for his absence out front their chances came and went begging for the nigeria forward in the first half then with twenty minutes to go the feet forty twenty year old and taste a penalty marc garneau was the guilty man and sweden midfielder rasmus elm made no fuss to knocked up his first goal for the isle of man and maracana soon saw a straight red offer offside challenge on keisuke honda while musette finally got on the scoresheet after latching on to alexander's sound as poss to completes the two no scoreline eight minutes from time. while in the early kick off he called never going to volley being jersey mahdi's ceo's crossed midway through the second half to and why flying tourettes i wonder when i'm gone is the chechen side picked up their second straight victory and finished the day thirty four points adrift of

angie. meanwhile example got caught in was a hero who did not buy moscow as the russians trying to nest in both goals in their two one win at second bottom or those. yeah the twenty one year old that's when he said to me if you have a cool off to the far post just six minutes in however his early strike was cancelled out of the response. by controversially retaken penalty with austin our left but the court in swiftly had a cross by ballast huge ask the dumbass rescues charges move up to twelve and up their points clear of the relegation zone while fifth place not the t.v. and now at the bottom of our stuff still goes that tommy was something they redesigned he came back to win two on a ten to ten mph track after the visitors conceded a stoppage time only goal was sponsor took the lead ten minutes before half time through material that you know of but a yellow card on either side of the integral for kill can bought off the visitors with ten men and last seen a try or equalize midway through the second half but with a draw looking evidence and injury time free kick resulted in five inside all day

heading into his own net and she won two one and remain unbeaten in six league games while spa time one hundred this second straight defeat. have elsewhere double defending champions need a fourth following a one no win at home to combine alexander to take off netted from the penalty spot on the stroke of half time to claim his second goal of the campaign was in the press for more in the second half but fifty million dollar man called powerful free kicks from long range went just wide won't follow record signing accident so the bar for me may i point to drift over the disc. not in the meantime comes up to places to nine so after two goals in the last eighteen minutes gave the home side a two no victory over the line yet they have been issued beats in not even the first off of the ball rebounded off the post. and the call that didn't change blasted home following a corner to ensure the home side to this point the one of your only two points

clear of the drop zone. and england the sunday and only goal from demba vall with. four minutes to go ensured sunless national a one one draw at one hundred ten my new castle in the northeast darby hunk of all i had opened for the my prize in the bird minutes before they had changed here to be sent off twenty minutes later what rock bottom q.p.r. are now drawing one one with fourth place everton junior points made no it never rains after two minutes with council that half an hour later my keeper says as unfortunate i'm goal in the last five minutes that we want to start of a substitute adding jacko scored a late braces ten minute match to see if he stepped up to one when it west brom wayne rooney netted an own goal but then also struck twice as much as you know here we stoke paul to stand arsenal one nil for their first win of the season and chelsea stay on the applesoft after one flatters second half double to help them win a thrilling london dobby or to top them. in the early goal in the second

half gave them was feeling of confidence and momentum which we knew we had to ride out a little bit better you know the first ten fifteen minutes but to perform that i think for the rest of the being we were very much mature to finish the if we wanted to impose some women should do so for the moderate have to go. now moving on to tennis and former world number one caroline wozniacki triumphed in yet another gruelling three setter to beat some stones and lift the kremlin cup the dane cruised through the first set six two but the australian top seed fought back in a second to take that six zero or it was a close affair in the decider of before bosnia converted a second match for the exact seventy five and to lift the cup for his second title of the season one hundred twenty two year old could also break back into the world's top ten with the tournament champions which gets underway in vogue area later this month. alone she was going to title since her victory at the u.s.o.

last. week was close very well. such a good for her and i'm sly's i'm sure she has some. different things to serve the other players start to know the serve she plays more. of tennis which makes it difficult with the spin and everything but i was very pleased about there were handled everything out there. and in the meantime israeli's andrea set the withstood thirteen aces to come from a second down and thomas bellucci of brazil in the men's final second securing his second crown of the year. now and i just bought dani pedrosa has won a rain shortened malaysian grand prix to cut the gap to merge a g.p. leader whole day lorenzo to twenty three points with just two races to go at sorrento down forced the organizers to read five the race after thirteen four laps but not before six riders including italy's and they're the busy also and crotchless of great britain who crashed out well then lorenzo who started on pole

now really avoided a crash on a tricky turn when already behind producer so the race was called off and put rosso was awarded all twenty five points on the right now trails lorenzo by twenty three with a total of fifty available in the two remaining outings while it's going champion casey stoner completed the podium anticipating said. to me love to go the news was dog but anyway i'm really really hobby today it's my first weaning. and in the meantime russian jets has an at side chance of being crowned the formula ready to champion in barcelona this sunday as he goes into the final race of the season fourteen points behind rival stoffel van dorn from belgium cancer team but after reports. for the whole season rushes the new kid out and show off for the one born have been the only go their own as the sparrow fry will have won eleven out of the twelve races so for eighteen year old lynn this season with the most to be two

is seven but despite one door and winning just four he has been more consistent finishing on the podium ten times in twelve. and headed into the final weekend at the catalonia circuit with an eleven point. one set of these ways the belgian started from second sport while combat was the from politically should however the russian produced in the electric start overtaking two opponents to get close to his title rival but the new incident slowed the red junior team driver down as a safety car appeared on the track and as a result the twenty five left race was shortened to just well in columbus or screw to hold who started from pole proved his first victory of the season leaving bondurant to it without them to second in a battle behind him well it was a very short race a long safety car period in the beginning. but yet for me it didn't play as so much because i was anyway in front of daniel one door and increased his lead to fourteen

points ahead of the decisive race however that says it's not the end of the battle and the crucial day will be on sunday. today but not for strains of anything everything still happening tomorrow. looks like rain for justin justin in turin there is no pressure. despite the fact that combat failed to cut the point deficit in the first race with twenty five still up for grabs at american olesen store on sunday where the winner not only being crowned champion but also bucketing half a million euros and a chance for the big time on sunday by that of r t barcelona spain. and finally to go where americans davis love the set and. jim furyk took control of the mccloud three classic after the third round in georgia the pair tops the leaderboard by two strokes going into the final round when u.s. ryder cup captain lover sank a twelve foot birdie here on the eighteenth the card a foreign power round of sixty six fresh out of the lead and fellow ryder cup team

member if you rick much that score was his second bogey free round all the seaside course now meanwhile india's arjun atwal also remains in contention he's tied in second place with d.j. john needs a victory in this tournament to help his cause of keeping his p.g.a. tour card for next season. and that's always what these bison. saeed.

how can the truth be revealed if there's no official evidence there was a very bright day to the service make a search who will give proper protection to the people of this country generally because of radioactive full. the secrets of the. secret lumbered sure. to build most sophisticated. missions to teach creation why it should care about humans. this is why you should care only.

more news today. these are the images. from the streets of canada. today. if. bryson if you knew about sums from feldstein freshened so. please please start on t.v. dot com.