russia would be so much brighter if you knew all about someone from finest impressions. from start on t.v. dot com. 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 up to our thanks very much for speaking to me now jamie 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 process of 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 we see 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 taxpayers in the cells and in the north the euro has created the problems because the euro and that's what i predicted in one nine hundred ninety eight in a lecture at boston university 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 them to 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. very monetary policy verse so we are stepping on the gas pedal was one foot and on the brake was the other and that's the frederick and so one would have to ask. who benefits from that kind of policy and they said that it could in 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 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 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 are some proposals out there to really split the euro into a northern europe the salver neuro 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 who's going to be the point around which they will rally so that

the mind boggling the problems around negotiation team 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 greece should leave rather today. and not tomorrow because it's really clear the policies are not working we're really having an austerity program which puts the country deeper into difficulty is the g.d.p. is shrinking people are suffering the only people are saving them from actually need to see 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 there. should support certain banks 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 in the mean there is a skilled complex we can say it openly still from world war two and we believe if

we just give of 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 it's 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 i'm still requires. a sense 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. we 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 against certain 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 the 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 response to leave it can leave we're prepared but there was a short short blink of truth but the dogma 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 euro zone 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 of 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 on 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 assertive. 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 and the will 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 their dr of the pleasure to speak to thank you very much my greater.

for the. first solar power this month the moon is the center of our universe the tides are forever while the sun's rays can be fickle innovative construction methods last cost as well as environmental damage one brand new turbines boost efficiency with the simplify design and who needs batteries blakes can store energy discover a new era of clean power driven by the moon. jumping here on r.g.p. we've got the future their suffering.

witnesses in libya say the situation in bani walid is getting more dangerous with foreign snipers spotted on rooftops and allegations of chemical weapons being used in the procedure town. the i.m.f. trashes greece's plan to deal with its massive deficit as they use the last line of economic defense celebrates one year in circuits. and meets your main runners in the us presidential race are facing

a tough choice whether to back israel's urge to bomb iran or they lose the jewish lobby support. and now as for his next words hama. hello and welcome this is for an artsy put me wrong calls for event let's get to our top stories first and let's begin with football. and have a streak rushes and she goes down one nil if they were poll after an eight game drawn without defeat in the europa league. moving on up maria sharapova and serino williams qualified for the semifinals of the season ends in w.c. a championships in istanbul. and march in on our new men are three four three in the euro be following says caused dominance against both the bamberg

right here in moscow. and let's start with football and the consonance second most significance kolob event the europa league where two russian seems war in action on match week three of the group stage on thursday now former back to back national champions of russia rubin open the day with an early match in ca's against nifty from the neighboring republic by john kerry's side was not the toughest of opponents on paper but the visitors still managed to mutual lies for beans and multiple charges on their gold however one slipped through early in the match when circus international give denise courage in these sets up along with made no mistake from outside the box in the sixteenth minute and that's how that water was ends and the same scoreline in the others i in this group were ensor melanne. belgrade into the russian and italian sides now have dominant leads in this group with seven points each while the serbians and as aries have just one points each as

well. now let's move it up to group eight where the current a russian premier league leaders were in action at liverpool. and sell for their first defeat of the current secure open the campaign stewards our winning brawl the deadlock fifty three minutes into the match and that was the final score because hiddink side had to conceded just one goal from eight games before kickoff at anfield and have now dropped to second place in this group with lever liverpool leap frogging the much collapse stride into first switzerland's the young boys beat the gin as it hole which was a very first win but still that was not enough to rise from the last spot. former french international player more say this i.e. has said football chiefs don't do enough in terms of fighting racism in the sport than one thousand nine hundred eight world cup winner stating that three well known footballing bodies know what they have to do but ups and they'll haven't taken the

necessary steps. to one that the farther you away from that catch could be a bit more strong than the end zone anything happened in that anything that these games being received the real thing and the amazing winning and maybe do you think i'm going to mention all my imagination that. we are not on top of that they know what they have to deal with and we just hope that they're going to find the right solution. and let's move on to tennis now and this season ending w.c. championship in thirty where serena williams won her third and final match of the round robin circumvents in the red group cementing her place in the semifinal or number one victoria azarenka fell in straight sets to the american serena williams continued her dominance over the belorussian with the latest encounter becoming her ninth straight win over as arik us six four six four was the final score and the second semifinalist will not be decided between china. and victoria.

lino became another contender for the semi after beating engine a very brief six four six three the german who made her first appearance at the season finale relieved all three of her matches china's lena now has to win her last group match against world number one because already. the order to progress to the next stage. and over in the white group it's a these are irani beats samantha stosur in three sets sixty two sixty six well it was the first match of the great in who replaced the defending champion petra in istanbul that means a lot. with a little that's just one. earlier maria sharapova is storming her requests for honors and circuit near zero let's look to the rushing to win scrum two in the hard courts sharapova edging the first set seven five but

was forced to down in the seconds before battling back to also take the seven apply for the euro this morning into the semifinals. and in other tennis news rafael nadal will not be taken to ports in the men's world tour finals in the bedroom and that's because of a lingering let me injury the eleven sign grand slam champion has said this thirty or so i. know they're played since june. the it was basketball now where it says moscow remain undefeated in group d. all of the euro league third sounding brawls a basket seventy six sixty seven at the mega sports arena in the russian capital with sunday weems seventeen point speccing the home sites of victory as nick allied scholz now reports. bros boss kids came into the game seeking

a first winning group d. but they faced an uphill battle to take you know c. is called who we get to taste defeat grace go to the board first but it was the home side that made twenty five twenty at the end of the first called it was a tight game throughout this second and third coolidge's five points by to give him a lead the german champs to take a fifty three fifty one edge at the end of the pool which of them back to back gets but cost and the gate bros a sixty three sixty one lead who've less than civil minutes remaining however it was short lived a serious call buckle down in defense and punched on and went on a thirteen to zero run that put the hosts in can show them pave the way to seventy six sixty nine victory. not a good game we're finding ourselves you know we got the win. everyone and the women want to look at her best the best thing right there you know wanting to learn

a top scorer on the night sunny williams contributed seventeen points to the win and believes the toughest games to come right now we just get enough talent and you know we can't get out you know every game we have to think the game and you know. we played like the boston on the best of times you know to be argo's those and we had to come together and you know i think we need her we have to do that sort of three out of three for the russian champion so for as they look to the further ahead of their trip to istanbul to face group rivals on november the second nickel are chose faulty. had that should be a good clash on november the second but let's switch over to golf now and the china open where jamie sun has set out of the blocks at the b.m.w. masters the welsh and securing a four shot lead following the opening round in shanghai the thirty six year old

shooting at. courser records and the poor sixty two ethically mellor and keeping up the chase are the writer called what a pair of swede peter hanson and sally in francesco molinari they light six under while the top ranked rory mcilroy is right on their heels after posting a five under sixty seven alongside the defending champion is another northern ours friend michael holroyd and spaniard jose maria olazabal. just played really well from start to finish how they missed it and i missed one shoulder which is great. you know. the law puts today which showed finished off well you know you can play well with a push don't go in the nit you know it's not as good as school but we put it really well and he put some line in and then they all just seem to go in. and heading to malaysia where the limits are going to be following the c.i.

a classic keep up with one of them or world number two tiger woods meanwhile far to five under six to six six three shots behind the current leader enjoyed seventh place alongside his little pother players. who guarded the six hundred sixty six joint fifth with american some give it. a miss that would see home right there keeping this one your four year old very much in the hans there it is. philippe moss i will continue to fly the ferrari flag next season the formula one team deciding this week to extend the brazilians contract for another year at least masa has been with the scuderia for the past six years with his best result coming in two thousand and eight when he finished second overall. now i'm not so young

anymore but really looking for you to carry carry on with your idea and especially now concentrate that for a. good visit but also concentrate. good temper to pitch a thousand and thirty but from the beginning to the end and really looking for for that matter to stay with with her i'd. i'll be back in about three hours from now but you can get more at any time on our you tube channel which is at artsy sports news thank you for watching and i'll see you very soon. what will change when america picks its president amid muslim rage working the iran tight rope pushing china russia as occupy anger spreads the two parties still

dictate will their. selection of clothes guide. the face on our team. sigrid laboratory. was able to build the its most sophisticated robot which on fortunately doesn't give a darn about anything mission to teach creation why it should care about humans again . this is why you should watch only on the orgy dot com. news today violence is once again flared up. and these are the images the world has been seeing from the streets of canada. china operation through the day.

brightened a few. songs from fans to. please friends totty dot com. and the mission free accreditation free zones for charges free coming from and free is free. to tide free. download free broadcast quality video for your media projects free medio dog r.t. dot com. we won't go into the future criticize are cowards this month the moon is the center of our

universe the tides are forever while the sun's rays can be fickle innovative construction methods last cost as well as environmental damage brand new turbines boost efficiency with a simplified design and who needs batteries can store energy discover a new era of clean power driven by the moon technology i'm getting here on r.g.p. we've got the future covered. you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you don't know i'm tom harpur welcome to the big picture.