problem for the south 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 expansionary monetary policy that we are stepping on the gas pedal was one foot and on the brake 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 could 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 dogma 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 a second tier of monetary union there's some proposals out there to really split the euro into a northern europe the southern europe southern europe or. there are some proposals out there to really split the euro zone into another and so on in the southernmost zone 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 for the much more flexible and also i think sufficient approach

at this time is to 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 no story to program which puts the country deeper into difficulty as the g.d.p. is shrinking people are suffering the only people 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 project the. 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 this guilt 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 jump is a little short 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 the 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 sorry to interrupt 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 that 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. i.m.s. 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 flowing and basically exacerbating a prolonged prolonged 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 they'll 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 is said after the consummate if greece wants to leave it can leave we're prepared but there was a shard 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 its 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 a 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 so i can see that 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 assertive. points to basic things 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

set of affairs is just going to continue nobody has the power in the world to really solve it. but everybody is of course concerned not to red 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 to adult to off the pleasure of speaking thank you very much .

i mean so familiar city in europe the hosts of the twenty four team which are the pick a. seat. thank you. so much. thank you. dog. days it. makes common. to see it's so true.

wealthy british style. markets. come to. find out what's really happening to the global. ana me with mike's cause or for a no holds barred look at the global financial headlines tune in to cause a report on. you know how sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else you hear or see some other part of it and realized

everything you thought you knew you don't know i'm tom harpur welcome to the big picture. the gold fever. turn south of us into slaves. must follow but also among brotherhood involved in the monsoon and since i started working at the moment i stated i look a. bit more to nationals. is a cash cow to be milked dry and if i think that in this country is gold medal logie as an environmental cost which is unacceptable to local business was labelled

illegal and controlled by criminals you know in order to protect our lives our families and to work in peace. most that we are forced to pay protection to illegal groups water prices colombia going to pay. the people the modest effect on r.t. .

lol. machine gun and rifle warning shots of routers a supposedly peaceful protest against the syrian leader turns up with opposition and al-qaeda flags seen in the crowds. the deadly blast rocks damascus as the un peace envoy meets the syrian president trying to broker a truce in the conflict torn country. and other stories that shape the way dozens are killed as the former stronghold of more of it though he sees another assault by pro-government militias but you're off to the west i'm about to libyan revolt we talk to a murderer whose family is trapped in the besieged city. but be back with more of those stories for in fifteen minutes from now in the meantime kate is next with the

sport. hello and thank you for joining me for the sports and hear all the top stories. big battles ten man remain to regain second spot after wintertime caught and stay third at the top sides keep up the pressure on leaders anji in the russian premier league . while moscow epic caroline wozniacki triumphs in another three set marathon to overcome some studies are when the kremlin cup. hotting up dani pedrosa wins a range shortened malaysian motor g.p. to cut all their enzymes are over all the eight to twenty three points with just two races to go. but first let's kick off with football where tesco are back to within just two points of leaders and after winning to nail it home to ten man rubin to lead from teh right back into second place in the russian premier league

mistry gets a do do india and akhmed muso made up for his absence upfront 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 got a penalty even makana. was the guilty man and sweden midfielder rashness el made no mistake to not chop his first goal for the army men and marcano soon saw a straight red after a high challenge on keisuke honda while russo finally got his name on the scoresheet after latching on to alexander sound as poss to complete the two no scoreline eight minutes from time. while in the early kick off igor eleven then go volatile as a muddy ceo's cross midway through the second half to end high flying to wreck i wonder when its own car is the chechen side picked up their second straight victory and finished the day thirty four points adrift of energy. elsewhere alexander got korean was the hero for deny moscow as the russians striker netted

both goals in their two one win at second bottom although via the twenty one year old first beekeeper at the meeting about whom off to the far post just six minutes in however is an early strike with counsel that of the loose long walk on the chin slotted home a controversial retaking the penalty with half an hour left. but according swiftly headed home across by jack as down progressed fusion charge is moved up to twelve and a match four points clear of the relegation zone. while the fifth place lock in our teeth and now winless in three matches after the rel way men were held to a goal is stored struggling astafy who haven't won in full. one on saturday leaders and he came back to him to want to take him to ten rounds by attack after the visitors conceded a stoppage time only go one spot that took the lead ten minutes before half time through we'd feel that deneuve butts a yellow card either side of the interval for kill come back off left the visitors with ten men and the scene a try or equalized through the second hard not so with

a draw looking imminent and injury time free kick resulted in five minutes or all the heading into his own net to ensure angy one two one and remain unbeaten in sixteen games time one hundred best seconds. great to see that. one elsewhere double defending champions anita for following a one zero win at home to combine xander go to cough netted from the penalty spot on the stroke of half time to claim his seventh goal of the campaign was in the press for more in the second half but fifty million dollar man hot powerful free kick from long range went just wide what fellow record signing acts on the bar to me twenty five points adrift of the design g. . and a club and are up two places to ninth after two goals in the last eighteen minutes stayed the home side a two no victory over long you're going to ship it saying not even the first after the ball rebounded off the post and. brought it home following

a quarter to ensure the home side took all three points on your remaining two points clear of the drop zone. and in england the sunday demba vase a late own goal meant sunderland snatched a one one draw against terror now new castle in the north east darby your hunk of i had opened early on but likewise then soon had to change the second tel while rock bottom q.p.r. also drew one one within four measure to do also had steven pienaar dismissed on the our junior for let's early made for rangers with them counsel like hugo junior says our own goal. was such a very such a good score that late braces ten man manchester city snatched a two one win at west brom wayne rooney netted an own goal that also struck twice as manchester united stoke four to norwich stunned arsenal one nil for their first win of the season and chelsea stay unbeaten of the top after one second half double helped them win a thrilling london darby four to

a top that. gives them. confidence and momentum which we knew we had to write the brother you know the first time to see me. but from that i think for the rest of the being very much you have to be if we wanted to impose ourselves and 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 grueling three setter to beat sam stosur and lift the kremlin cup but they cruised through the first set six two but the australian top seed for back in the second to take back six four and it was a close affair in the decider before wozniacki converted her second match point to edge that seven five and lift the cup for her second title of the season and the twenty two year old could also break back into the world's top ten should she win the tournament of champions which gets underway in bulgaria later this month all

stars that hasn't claimed a title since her victory at the us open last year. both prover well and. such a good for her them sly's situation has some. different things to some of the other players start to know the serve place more kind of tennis which makes it difficult to spin and everything but i was very pleased about there were handled everything out there. now it's a motor sport and done a producer has won a rain shortened malaysian grand prix to cut the gap to merge a g.p. leader jorge lorenzo to twenty three points with just two races to go and so renshaw downfall forced the organizers to red flag the race after thirteen full laps but not before six riders including italy's where the physio so and cal crutchlow of great britain had all crashed out then lorenzo who started on pole now really avoided a crash on a tricky turn when already behind pedrosa so the race was called off and was

awarded all twenty five points behind the rider now trails lorenzo by twenty three with a total of fifty available in the two remaining outings while outgoing champion casey stoner completed the podium at the supreme circuit so i'm allowed to go there but anyway i'm really really hobby today. and finally on to the ice way at reigning champions do not i must go remain top of the k h l alexander ovechkin and his team mates have one million out of the last ten games but it wasn't only to mamma who shone at the last seven days so sit back and enjoy the pick of the week.

that's all this was news by. side. radioactive fallout of government betrayal. and claude 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 given no problem protection and to the people of this country generally because of radioactive full. the secrets of the tests. secret laboratory was able to build a most sophisticated robot which fortunately. tunes mission to teach the creation why it should care about humans in the world this is why you should care only. will there be more. friends for. the feds offensive. us election. to twenty second.

well into the. science technology innovation hall the list of around russia we've got the future covered. it was the strangest attempt of a military take. place the u.s. president trying to overthrow a foreign country's government but his strategic games must. recognized its defeat. questionings if cuba managed to cope with its victory all.

take. the cuban missile crisis games and reality t.v. . wealthy british stock. market. has come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report on our.