and system will last for a while because the european political elite really has sworn to defend it whatever the costs and the cost 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 south 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 also it created a competitiveness 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 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 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 this 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 p. some countries leave the euro like greece and maybe later spain or 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 sullivan euro southern euro or. there are some proposals out there to really split the eurozone 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 event 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 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 mr have individual countries opt out if they just cannot comply was current

policies and of course research should leave rather today. and not tomorrow because it's really clear the policies are not working we're really having austerity program which puts the country deeper into difficulty as the g.d.p. is shrinking people are suffering the only people we are saving is the financial leaders 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 generational 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 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 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 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 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 it's interesting 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 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 only croce 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.f. 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 is just flowing in basically exacerbating and 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 they'll be taking place here next year well

mark two in 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 recent wants 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 a really dream of a united states of europe but then we have to start with a parliament that it's worth 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 a 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 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 germany 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 set of 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 their doctor at a pleasure to speak to you thank you very much my great.

if you just saw often enough and knows that to ride a horse you've got to catch it first. for him it's a daily routine that you're soft as a horse breeder on the island of a horn at the heart of bike all his life on an isolated farm is about blue sky green grass and his horse is worthless sometimes it gets lonely here but horses have become part of me now i've fallen off so many times sometimes that bites as well it's part of my everyday life. i holmes been home to it now brats locally just laugh for centuries most still live off the land of cattle and fish every evening local villagers place their nets and in the morning the catch is always good. we always have enough here.

if by call is often called the pearl of siberia and horn is said to be the pearl of by call it's all end of think forests. and vast staps. it's also a place of traditions respected by locals and travelers alike. an economist turned adventurer has crisscrossed by called shores and learned its customs well. you see pillars like this and thought to have supernatural powers every traveler who comes here asks the spirits to make the journey easier give them strength and fulfill their dearest wishes i knew virtually undiscovered by tourists until some twenty years ago i was cornish quickly becoming

a magnet for nature lovers and curial seekers but those used to five star pampering maybe in for a surprise the island's infrastructure has yet to catch up with the growing demand here quite some way from civilization here accommodation on the island is very basic so you can forget about a t.v. or even running water for most people a tent is the on the eruption but for those who come here it's exactly what they're looking for. you and your need to buy coal can be unique trip of a lifetime and the locals say once you've seen it you'll be coming back again and again.

download the official publication. choose your language stream quality and enjoy your favorite. t.v. is not required to watch artsy. fartsy any time of. the headlines and. the situation in. anyone lead is getting more dangerous with foreign snipers on rooftops and allegations of chemical weapons being used by. the i.m.f. trashers greece's plan to deal with this massive deficit is that he used the last line of economic defense celebrates one year in service. and the two main runners

in the u.s. presidential race are facing a tough choice whether to go back israel to bomb iran or lose the jewish lobby support. let's get some action here on r t time for roman of the sports good to see you today rather mixed emotions and rush are off for the latest europa league game week well that's right it's a rory former national back to back champions are now on top of their group wild goose hitting on g. dropped down to second place and that was after a one no loss at liverpool another eight minutes outside both sides although size rather much better off than the two russian teams in the champions league while yes well sportstalk and the need certainly have their hands full with only one win in three matches but they still have a tiny chance that you know more about this and other things than just a second stick around.

hello and welcome this is morgan r.t. with me or i'm on call for him and let's get to our top stories right away. and over three crushes on she'd go down one millimeter pull answer and a game run without defeat in the europa league. to our group maria sharapova and serino williams await their semifinal opponents this season ending w t a championships and as somebody. marching on the army men are three for three in the euro league following says god's dominance against brawls that bomb burg in moscow. and let's start with football and the consonants second most significant club event the europa league where two russian seems were in action on match week three of the group stage on thursday former back to back national champions the ravine open the day with an early match against nifty from the neighboring republic

all five there by john kerry side was not that selfish that opponents on paper but the visitors still managed to neutralize were these multiple charges on their gold however one slipped through early in the match point circus international deal danny's car that he set up along comes sun have made no mistake from outside the box in the sixteenth minute and that's how that wall with ends and the same scoreline in the other tie in this group where inserting the land forces on belgrade and so the russian and italian sides now have a dominant lead in this group with seven points each while the serbians and the as there he have just a point. let's move on up to group eight now where the current russian premier league leaders were in action at liverpool and suffered their first defeats of the current europa league campaign stewards downing broke the deadlock fifty three minutes into the match and that was the final score guus hiddink side had. seated just one goal for eight games before kick off at anfield and have now dropped to second place in that group with liverpool beat frogging that much go outside in the

first switzerland's young boys beat belgian is a home which was their first win but still not enough to rise from last position. former french international player marcel desailly has said football sheaves don't do enough in terms of fighting racism in the sports in one thousand nine hundred eight world cup winner stating that three well known footballing bodies know what they have to do but it's up to now haven't taken the necessary steps to find a woman that he thought the new way. it can be and be most strongly against anything not. anything that these be speeding up the race is. real enemies will need to mention all my admission most of them didn't. we don't don't know what they have to give away and we just hope that they're going to find a great solution. to tennis now and the season ending w t

a championship in turkey where serena williams won her third and final match of the round robin sort of ends in the red group cementing her place in the semifinal world number one victoria azarenka fell in straight sets to the american said rina williams continued her dominance over the belorussian with the latest encounter becoming her ninth straight win over azhari six four six four was the final score and the second semifinalist will not be decided between china's lena and victoria azarenka. became another contender for the semi's after beating agitate kerber six four six three the german who made her first appearance at the season finale lead after losing all three of her matches china's the lead not now has to win her last group match against world number one big story in order to progress. and over in the whites group it's in these sara errani beat samantha stosur in three sets six three two six six it was the first match for this trillion

who replaced defending champion petra in istanbul cleats withdrew with an illness after just one match. meanwhile maria sharapova is getting ready for her final round robin match against sam stosur the russian will be looking to maintain her one hundred percent record following wins over sarada ron you know it's in the end that me ask her advance golf ball and the match against the australian opponent is scheduled for later on friday. and in other tennis news rafa nadal will not be taken for in the men's world tour finals in london in november and that's because of a lingering left knee injury the eleven time grand slam champion has set his sights on returning to the woods in time for january's a straight and open the spaniard hasn't played since june.

basketball now whereas says remain undefeated in group d. of the euro league after examining brawls a basket's seven to six sixty nine at mega sport arena in the russian capital well sunny wings seventeen point spacing the home sites of x. ray. charles reports. bros boss kids came into the game seeking their first winning group d. but they faced an uphill battle to take you know see is called who are yet to taste defeat braze got on the board first but it was the home side that led twenty four twenty at the end of the first quarter it was a tight game throughout the second and third quarter as five points by ted to give the german champs to take a fifty three fifty one edge at the end of the third quarter then back to back cost and gave bros a sixty three sixty one lead to the less than seven minutes remaining however it was short lived a serious call buckle down and defense encouraged and went on

a thirteen to zero run that put the hosts in control and paved the way to a seventy six sixty nine victory. not a good game. you know we got the way. everyone is. going to look at. that's the best thing right there you know wanting to learn a top scorer on the ninth sunny williams contributed seventeen points to the win and believes the toughest games to come right now we just get enough talent you know we can't get out you know every game we have to think big and you know. we played like the boston on the better time you know the libya goes goes and we had to come together and you know i think we need to hurry up to do that so three out of three for the russian champion so far as they looked. ahead of their trip to istanbul to face group rivals on november the second. chose. will spill. over to golf now and to china where jamie donaldson has sped out of the

blocks at the b.m.w. masters the walsham and securing a four shot lead following the opening round in shanghai the thirty six year old shooting a course record set on the porch sixty two at lake mal around going up the chase are there ryder cup winning pair all sweet peter hansen and italian francesco molinari they lie six under while the top rank to rory mcilroy is right on their heels after posting a five under sixty seven alongside the defending champion is another northern artist man michael holy and spaniard jose maria olazabal. had just played really well from start to finish hardly missed it and missed one shoulder which is great. you know you know jolo 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 really

well and he put some line in and then they all just seem to go in. to leave him also 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 results coming in two thousand and eight when he finished second overall now i'm not so young anymore but really looking forward to carry carry on with your idea and especially now. i concentrate is that for a good resume it but also concentrate for. good temperature if it doesn't and thirty but if from the beginning to the end and really looking for for that very happy just a bit there i'd. human the neo will be here it's obvious you less than four hours from now but you can get more at any time on our you tube channel which is located at r.t.

sport news thank you for watching. magine assets that the temple watches show every single month. and waiting for you to stumble. i saw a man with a video camera so i moved over and he followed me. you know we realized there were following everyone from early in the morning. the only chance to get rid of him. is to reveal him. me devil operation on our cheek.

clucks. explain. what lies ahead for auction haunt the movement mobilize calls for a new america who stands for the ninety nine percent us election a close god monday october twenty ninth on r.t.e. .

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