no the u.s. markets continue really without direction and that's really is investors are i. corporate results so we've got us markets we've also got european markets actually drop today as well so it's home of the move you know we're going to stay with a fine us the foreign minister of iceland tells altie how his country managed to pull itself away for the financial abyss. foreign minister scott peterson thank you very much for sitting down with r.t. well it's a pleasure iceland has recovered remarkably well following the two thousand and eight global financial crisis can you briefly describe to me how iceland came out of the circumstance they found themselves in in two thousand and eight we were the first country down during the crisis but we were also the first country or. apart from the rest of the countries in europe brought with him problem was the fact that

. made an economic plan which i am happy to the plan we stayed because we took all the difficult decisions we didn't but you know we we want a little bit different from the broken countries instead of just. adopting everything measures we also raised quite a lot moving about this. much greater income. they did make it able to pay that. and that of course we also put money into infrastructure projects to stimulate the economy so we went in mixed mixed paths really that is what was different between us and europe but considering the turmoil in the e.u. economy which may go into a recession now but iceland be better off just staying away from the european union

i don't think so i'm pretty convinced that the eurozone will go through the present difficulties and will sail through the rough seas in the end i believe that the euro will be a stronger currency long before but you already see that it holds more than hold for example against the american bhalo doing well in the. uk with for example point five. stronger than the dollar so i think it is a currency but. in iceland you have this special situation where we are probably the. smallest the nation with an independent currency and then be globalized world we find ourselves i mean if you are a small country with very little independent currency you you become like a prey that is attacked by all these sharks all the. so. therefore a lot of icelanders they think that in future there will be filled with

a new growth like this what we really are seeking well oh yes. but won't you this is something that will be it's a decision that will be taken by the people also holding a referendum being already. put in a lot of what we're seeking by joining the european union is a greater currency area with greater stability lowered rates and hopefully better shelter for another crisis that may loom in future for europe and i said that four of its big banks fall in two thousand but supported sectors of its economy europe is doing the exact opposite right now as forging our aid to the alan banking system while imposing austerity measures on people why isn't the european union learning from iceland's experience of the big companies they probably can't of

these big countries the big comfortable asians never look at the small fish in the pond as consoles why are they doing well but what we did what was completely opposite to the euro zone countries and you into the united states is that we didn't realise the losses we didn't let the taxpayer. is shouldering the burden what did all of that. phone call. rich. go away with losses but we did the whole thing we. miss the average person let's just say the state government would be part of the in the with yours so you put the people first before the corporations that's why it happened that's what we do in life that that sounds pretty nice pretty considerate it worked for us it worked for us and in the end i mean only four years after the

crisis you know when when the world completely wrote off iceland what you see a small country that is doing well we have the highest rate of growth in europe now the new figures showing about the growth in iceland three point five percent projected to be there. in the same area for the next two years unemployment is down to four point five percent four point five zero point five so and it is working the icelandic system is working do you think that a european union will survive with all of its current numbers or just think some will have to pay off loaded greece i think it will survive and i'll tell you why i think greece as you put it so eloquently will be offloaded because it will be so expensive for europe it will be very expensive for some of the rich countries of europe from so i think people will just come to terms and come to the conclusion

that it will be. easier cheaper to save greece. and i think that this what will happen iceland is one of the key players in the arctic region that is estimated to hold thirty percent of the world's undiscovered gas deposits and thirteen percent of the world's undiscovered oil deposits could the arctic become the new middle east just a few decades from now perhaps not a new middle east but. the arctic contains a lot of untapped resource. if you just think about iceland in the future of iceland limiting within perhaps twelve or twenty years you will have three oil fields north of iceland one with the iceland economics so that's one which we know this business pretty well. should just it may be huge so i think definitely

in the arctic you will see a lot of new wealth drawn from in the future that will be to the benefit of countries like yours like russia like iceland like greenland possibly the fairways and some others but it isn't the only opportunity i mean if you look at iceland we are placed so to speak in the affluent of the arctic ocean and some of these spills are exactly in the areas where the new currents are poor let's go between iceland and greenland so let's just think for a moment the pub what happened in the gulf of mexico christ if that would happen worth of iceland the extreme low temperature oil doesn't the great need to really but the catalyst doesn't do not work it could be a couple strokes so we have to tread very very carefully. but the answer is yes i think a lot of nations will drop out

a lot of wealth from the arctic how do you respond to recent reports of chinese investors becoming increasingly interested in leasing land in iceland and what do you think china's involvement in the region will mean geo politically well the icelanders. reacted very positively in the first place thought this was a very. interest they welcomed this interest and china like russia has always treated iceland with respect you know our friends in the past even of systems like russia did during our crisis i think there's a lot of apprehension now by the icelanders about china this is probably and possibly by. external media about all seem to be afraid on iceland's behalf but what will happen is that there will be a new traffic route across the arctic definitely and china is looking at because it

will cut the cost so. transporting chinese goods from asia to europe by forty percent so in iceland there is a lot of interest in certain areas to work with chinese on developing this in the future i think. you will see that anyway however things developed by stunt will be one of the stepping stones between. europe where the ice has melted in certain manner that you will. you will have a new car group. that will be pretty soon perhaps within some two years ago iceland came up with something called the modern media and national have its legal framework to promote investigative journalism considering the fact that iceland and you yourself have become the victim of. leeks what's in it for iceland to promote such

a legal framework well i wouldn't phrase it. the way you do with the dice on became a victim of italy but you publish your free will i mean you're talking to a guy who certainly saw a confidential report made by the. plaster on the pages of the media actually the league's group made the first trial run with documents related to iceland because they had some particular connection to icelandic individual but. in the end this resulted in this bill of legislation letters being proposed in the icelandic parliament about has been embraced to a certain extent by all sides of the house i mean iceland at least tries to be a partner but. well. but this doesn't mean that we want to run for illegal things. but what we've trying to do. of this bill

sponsored by a. groundwork for a corporation. but it is. still. public things might be different. but nevertheless good. of the whole i mean for example if you have corruption within government i think that this part of the. open. that's the angle i take on it but it has been passed the foreign minister thank you very much for your time thank you. no one should be proud. of scrap metal littering pristine arctic landscape building

stilton over their foundation pipes spewing black smoke over the snow covered peaks the traces of the soviet industrial activity on the pittsburgh an archipelago don't make a pretty picture the guiding principle here is the worst the better that can do nine hundred eighty s. daryn's work was a burgeoning mining community that the soviet union was determined to maintain at all costs are located halfway between north america and western europe the spitzbergen archipelago is part of norway but 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 sars western most outpost now it's one of the soviet union's last preserved relics. it is essentially a picture of what would have happened. the soviet union if it was cut off from any financial support for two decades is a curious site for western tourists and i think it could be even more appealing for

russian travel as the local administration is increasingly under pressure to bring the infrastructure up to more than standards if these modernization efforts and not very popular with tourists if you come into a very authentic place like farm sport should stay the way it is that would be my wish i mean that's the part also the a little you know authentic traditionally up there. 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 become attuned to when they try to add morning russian songs to die repertoire the audience called all they wanted to hear it was a song comfortably familiar.

this presidential election is not just about obama and romney there are also third party candidates on the ticket and they will influence its outcome see a debate among this nation's major third party candidates right here on our team over twenty third.

america's global positioning for. the presidential.

choice. just misses. choosing the wrong time. but first disgraced cyclist lance armstrong has been stripped of his seven tour de france titles on what the sport's governing body calls a landmark day for cycling the forty one year old was also banned for life after

the international cycling union agreed with a damning report by the u.s. anti-doping agency the one thousand page dossier claims armstrong was the kingpin ago a major drug ring helping him dominate the tour de france from one thousand nine hundred ninety two thousand and five and the organizers say they'll keep the titles vacant meanwhile the texan has always denied any wrongdoing but refused to fight these charges and last week cancer survivor also stepped down as chairman of his charity foundation live strong. this is a landmark day for cycling. cycling indeed has endured a lot of pain as it has absorbed the impact of the usada report u.c.i. will ban lance armstrong from cycling and usually i would strip him of his seven tour de france titles. and some strong has no place in cycling now moving on to football and spartak moscow have had to turn to their third choice goalkeeper as

they prepared to host benfica in tuesday's vital champions league tie here in moscow after a second choice said agape as he called broke a bone in his foot scans reveal the twenty three year old will be out for at least a month the shot stopper picked up the injury joining spar tanks two one defeat at leaders and jail saturday well twenty eight year old broad is set to deputize between the sticks in his first ever european tie striker emmanuel i mean b.k. also remains a doubt response i got a bottle of group g. after losing both are opening games so how wayne is paramount for the red white. and i don't know i think he's going to be turning the russian been fico it's clear favorites you know group as well as you do you want to do better for second place now that he's been fully secure in celtic unfortunately we failed to secure any points against. so choose these games you might with because we can't afford to explore many more if you get sick and you get to go. well meanwhile domestically

the focus turns to the bottom half of the table this monday night as clear so that off her eleventh have kicked off at home to bottom side vols at the wanderers once this season and the six points in safety room a woman kicked off ball then lead one nil thanks to alexander velez all of sixty eight minutes strike two minutes to go that time in so mara well meanwhile on sunday ten coach len it's not ski praised his players fighting spirit out there waiting to no time to ten man ready to go within two points of leaders andre the home and took the lead from the penalty spot with twenty minutes to go nigeria's when russo was appended by iran mcconnell and sweden's rasmus and four minutes later they got even worse for makana a straight red card for the simply honda and russo scored to test the second eight minutes from time to latching on to alexander sound as cross. while in the early kick off he has never drank a volley didn't jersey modesty has crossed midway through the second half to one high flying to record one they'll win as i'm caught as the tetron side picked up

their second straight victory and finished the day third four points adrift of angie. in england on the sunday world bottom q.p.r. drew one one within form of the ten who had steven pienaar sent off and sunderland snatched a woman draw against ten minute call so after a late own goal from denver baa in the northeast. now the new olympic bobsledder track in sochi will stage its first test event this week with competitors claiming it's an easier but safer run the one used at the vancouver games where one loser died the head of the tournament and several competitors crashed out the twenty two all russian gulf will get underway on tuesday on the new track which was approved by delegates probably international olympic committee earlier this year and after this week's tournament big international events are shadowed for next year in the run up to the limit. picks and so far the competitors have been positive about the new run. the new super bowl going on compared to the track this one is

easier but it doesn't mean worse as the last olympics there were some bad accidents as you know and a lot of afterwards were hurt at certain sections while i think this trick is safer . meanwhile in spain there was a dramatic end to the red no world to serious as russian just missed out on being crowned champion at the final race of the season in barcelona with more his concert in britain. fourteen point separated the neal crew out from stuff in a van doren before the final race of the can and i went to dramatically affected the results of the morning qualification session as well as the race clear out felt no pressure and captured a crucial pole position while his title rival had a disaster's run and had to begin from sixteen sports yet the twenty year old belgian produced a fantastic start as he overtook ten opponents to go six on the second leg but he

dodged another car in the torn and one door and was forced to retire for the first time this season and had to finish on the podium to grab the title unfortunately you have to decide i touch with somebody and i went out of the race so. that tens then i thought ok it's it's all gone gone again meanwhile kraut set the pace and was comfortably ahead of the chasing pack but first date in year old was fined for not making it stop on time and sleep to third and then his team paid for not changing tires as the tread dried and it was impossible to keep up his speed so that had to watch as a victory sleep through his fingers and he eventually finished eighth in a real option for the. tires of the truck seem to be asleep or indirect and there were some clouds coming and we thought that the rain will roll down again so. as to make sometimes wrong choice doesn't make right choice today was wrong choice all over rowland of the four tech team was the first to take the checkered flag however

it was one borne who stole the show as he was crowned this season's champions and takes home half a million euros our i feel really delighted after after securing a title but i mean after all today after qualifying it was it was going to be over and. i was going to have to lose the championship because i was starting p.-six dean and my rival was starting on pole so i think it's a late look on. much like an incredible job but my team and everybody around me really supported me and said it was not done yet it was a thrilling climax to do it's rivalry at the circuit i've got a long year hopefully both one door in and will take the next step and move to form a low rent or three point five and maybe in a couple of years time i'll be watching them compete in formula one constantine brother of archie barcelona spain. and finally the first season of the international student basketball league has got underway in moscow with twenty two

teams from six countries taking part so far the russian organizers hope more teams will soon enroll as from cancer every ports. then uniforms i is b.-l. united states highest echelons of state in basketball from russia ukraine delivers kazakhstan lithuania and estonia the sport's popularity in those nations is a long way from north america's and c.w.a. march madness but there's no doubt the organizers will do all they can in the inaugural season so that she believes longevity and expansion student basketball in russia is not at the level that it would like it to be and the long run so i'm sure that they exist and so the premier league or student basketball teams plus the international teams will help us to resolve the issue and we probably will go to the next level next season but this is a trial season so probably there will be mistakes will be problems i will try to make it work they'd her national student basketball league has been

a work in progress for many years and mosco state university along with sponsors and russian government officials have finally made that first step towards creating a highly competitive college pool was capable of the good basketball is generally a game for young smart people and here we have students who are just that basketball has always been extremely popular with students and we hope that one day our team will be taking part in top international university competitions and come out as winners of course was to bring the students into this season the eye has details exposure will be limited to the six former soviet republics but the players themselves will get a chance to assess this frank against and see that and top european universities as soon as may be next year at the international student basketball festival in the capitals the rest where i am on call for of artsy calls and i suppose bison.

if. folks. ask.

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on many turks the. news sigrid laboratory jim mccurry was able to build a news most sophisticated robot which all unfortunately doesn't give a darn about anything tim's mission to teach music creation why it should care about humans and world this is why you should care only on the dog. what will change when america picks its president amid muslim rage working the iran tight rope pushing china and russia as occupy anger spreads the two parties still dictate will there be challenge to a selection of clothes guys every day on our take beginning of two hundred twenty second. line. would be soon which brightened

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