it's actually playing in to the economic and political divide that we're seeing right now in the european union the euro was invented really as part of a program to overcome nationalism where nationalism is perhaps an excessive attachment to some of those cultural differences that you mentioned the problem with the euro i don't think lies in the cultural differences it lies in the lack of a unified institutional framework for banking and financial decision making but have has the problems with the euro now magnified the cultural differences and the problems in country cultural differences as well unfortunately when you have an economic crisis and national politicians try and find a solution it's always tempting to try and find a solution that respects the cultural differences because those are often the strongest feelings that people have in a crisis there are two ways to go with regard to the current euro crisis one is to build institutions for a european banking supervisor and

a european financial administration and european leaders are working on these the other direction to go is to emphasize the differences among european countries and try and tailor the way the euro functions to respond to those differences now there will be some of that because we're seeing deals with spain and with greece we saw deals with ireland and portugal all of that does respond to those feelings of cultural difference but i think in the long run the whole goal of the euro is to minimize the impact of those cultural differences on people's standard of living and on their financial environment a couple of cut questions arise right away talking a little bit more on cultural differences yes we see different european leaders work on a common solution to save the gear or to save the unity of the european you. but

still it seems so hart to find an agreement is specially if we see how germany's reacting to greece and how the u.k. is opposing the financial policies for example so is it lack of trust or is it yet once again the cultural differences that really come in the way of their finding the common solution there are cultural differences but they're not just european national differences if that was the only issue then the united states as one nation would be able to solve its policy problems by agreeing on a solution as you know the united states right now is very divided between republicans and democrats who have different ideas about how to solve our economic problems and so very little is getting done in europe germans have a belief that the way to solve the problems is by more saving and more fiscal discipline the southern european countries believe the way to go forward is to

promote economic growth and not worry so much at this moment about the debt those differences are very similar to those between american democrats and american republicans well from the latest of french president francois hollande has sat that europe must advance at several speeds so some believe that we would be seeing the united about the emergence of a two tariq europe i think there is a possibility i've written about that myself at the moment the levels of productivity in different european countries are large one can compensate for that with a unified set of financial structures but then that will take time for those structures to overcome the differences the instant way to say ok we have differences in productivity let's have a marked difference in the financial system for different countries and that would require splitting the euro whether some too. your system or

a different access system or even perhaps in some extreme cases a return to national currencies i don't you've been bringing up the united states a lot we are going to have presidential well we are going to have presidential election in the us and yes we are. domestic economy very much in focus at this point and although the united states economy is exposed to europe when you look at it it really hasn't taken a toll on it as much as one would expect why is that they don't obama just get plain lucky well i don't want to argue about whether obama is lucky or not there's a lot of evidence that he is unlucky and there is a lot of evidence that he has good luck we'll find out which is true when the election actually occurs but as regards the american economy the obama administration spent a lot of money on stimulus indeed if you look at net spending in the united states it has been much stronger since the onset of the recession in two thousand and

seven than in most european countries european countries have been living according to their belief in austerity so they have reduced government spending and they have raised taxes the united states was not able to raise taxes and did increase government spending now there's an argument about which is the best approach to restore growth i really believe what the american experience shows is that you shouldn't raise taxes during a recession you should increase government spending and the reason european countries have had greater trouble is they have done what i think shouldn't be done they followed a austerity policy before the recession was over i remember president obama got a great deal of criticism in the very beginning when he actually went for the stimulus packages and for the injection of stimulus and to the american economy but then again and it worked out like you said it worked out better than it did in europe but then again can the measures. taken to. fix the american economy

be taken into europe can then the same measures fix you up as well or you do what you do need to have different approaches because two different things still there are different things europe essentially has a double problem they have how do we get southern european and northern european economies to move in the same direction and for that i think the answer is don't pursue austerity pursue growth and then there's a second problem of once countries are all moving in the same direction can you fix the european financial system and create united structures so that this problem doesn't appear again as it may appear in the next economic difficulty if the current division among national financial systems isn't isn't fixed as the author of the over book on global population trends you have argued that the most important thing is really the distribution of population now that the rich

economies are really out of steam and the global economic crisis god knows how long it will stay around will these sick commie sexual be capable of absorbing. even new scores of immigrants as they were for the last century well i think there's a third adjustment that europe has to make aside from responding to the existing crisis and improving the unity of financial structure and that is europe has to adjust to the reality of zero population growth. europe after all was the fastest growing part of the world for much of the nineteenth century and even into the twentieth century and yet we're looking at a twenty first century in which most european countries will have very little or no population growth that means the structure of welfare health care pensions housing all is going to have to change now i am seeing very hopeful signs in many european

countries that they recognize becoming more open to immigration and doing a better job of integrating the recent immigrants that they already have are going to be very important for restoring economic growth so i don't think there's a choice there i just think it's a question of how soon does europe accept the reality that its population needs to be supported by immigration and that that's going to provide more of a benefit not a threat keeping in mind everything that you've sat i mean if everything goes by your scenario. and america's still today being the best places on earth to leave according to living standards. will they be america and europe be able to sustain their living standards like they are today i think they'll be able to sustain them to a good degree because they have the technology and the capital but it will take sensible

economic policies if europe and the us continue to spend way too much on public benefits like pensions and don't pay enough attention to research and education to raise the productivity of future workers then things will decline so there is the risk that we got it wrong on the other hand there's no reason that european and american people and companies won't profit from the growth that takes place in places like china and india it's already a global economy so i think the prospects are good but let me also. say even though places like shanghai or mumbai may not be as rich as london or paris they have their own attractions being at the center of something new and exciting and growing fast can be just as attractive as being in a place like zurich that has a lot of old but stable well jack goldstone thank you very much to you pleasure to be here thank you very much.

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it sounds like a dragon crashing through the forest but it is in fact technology this is trees and would you believe it this machine can fall and stripped hundreds of them each day when building this facility we wanted to use advanced technology that would increase efficiency and allow us not to use manual labor but also this provides for better quality goods as a result we were able to conquer western markets the demand for caribbean birchwood is high since our production line is quite efficient where i will to offer hard wages to our employees so the trunks end up here. well they turned into planks which branch off for all manner of uses these would expats among each but not all of it goes with gold. here in the museum island of traditional methods they used to build and maintain churches and dwellings dating back hundreds of years in this whole what kuwait is used to water riches by. complexity these punks are about to

become part of something which exemplifies the combination of tradition and technology. here at the valley on old viking boat makers what is fashioned into their souls new and old they range from small private boats to replicas used in the historical t.v. series. my books are all special they're like children to me we have to design and build them from scratch it's always sad when we have to part ways every time they sail away while we remain of the dark and powerful gets much of his timber from karelia same customers pine for its high quality wood. which brings us to the first six million cubic meters of wood is cut down in careers forests every year that goes to make everything from farm houses to firewood and with growing is proximity to europe and the baltic it's big forests big business.

morning news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. china operations are the day. his wedding falls fifteen. kilograms of rice one thousand flatbreads. and a live. one is the bride in a bad mood. feel to tell the group it's not the long.

term. the be.

headlines. as. the u.s. presidential campaign the most. of the day. with all sides in the syrian conflict. is the only way to stop the. progress of the group developing. action can only mean one thing. in the sports.

well welcome to the sports updates and other headlines referee reported chelsea lodge an official complaint against referee mark clattenburg after the nine nonbelievers last week to atone for manchester united while march to the top desk on lead the way in the russian premier league beyond the man when two one at the dream. giant that the san francisco win baseball's world series for the second time in three years with a cornell sweep of the detroit tigers. first a football and chelsea have launched an official complaint against referee mark clattenburg as the premier league leaders allege the official used inappropriate language to two of their players during sunday's controversial three two defeat at home to manchester united the players reportedly thought his comments contained racial overtones well the blues have come back from two goals down to

a level two two then offer not branislav yvonne of each was sent off for bringing down ashley young and soon after another tourist picked up his second yellow card for supposedly still leaving then with fifteen minutes to go substitute at the end underscored united's when he appeared to be offside to see united go second in the table one point behind chelsea while slaphappy sees a last minute strike gave newcastle a two one win over west brom top don't beat second bottom southampton to want to go for an episode and came back from two goals down to draw two two with liverpool immerses side on beat with red striker luis suarez coming a last minute when it ruled out for offside. it's a wonderful finish and should have had hoped. or should how this is at least he's goal and it was thoroughly deserved and been a brilliant one for us instead or for st it bought the same time i'm very proud. to look at my young team today in a real cauldron of an atmosphere and who stood up to everything against a very very experienced team and it was another terrific straightforward force.

well elsewhere argentina strike a little messi has been awarded his second golden boot in three years for scoring the mostly goals in europe last season the barcelona frontman set a new legal record of fifty goals for more than royal madrid rival christiane are now those who picked up the prize last year. but meanwhile says that coach lane is let's keep praised his team's second half performance after the army men went off the coming from behind to into on the back brazilian elson put the chechen side ahead of the meeting keeping igor back in favor of to the near post just eight minutes. but keisuke honda valid in a cross begun by going to level matters midway through the first half and just do minutes to go part of virgin blue headed home to finish off a free kick by fellow swede rasmus elvis the army men went to a point to the top of russia while to record stay for. that event on and he took the second and saw their seven game winning streak come to an abrupt end after

a two one defeat at rabin the home side to a fourth minute lead through whose mean but swiftly equalized courtesy of top scorer at the scene a try or eight as the gentle giant nicked the seventh goal of the campaign however alan because i have made it to want to be with that cracker from just outside the box after twenty minutes and that's how it stays as the sound side right to set the . ball in the early kick off the number leapt from the bone is clearly a severe talking to eleven after a one zero win in a rain soaked match just outside moscow russia strike alex on the corner netted the winner after thirteen minutes kevin kranti was the provider do not have now won four out of the last five matches to scrub out a disastrous start to the season. ten is now and serena williams powered away past maria sharapova to win the season ending w t a championship for the third time without dropping assess in istanbul williams didn't face a single breakpoint smacking forty winners and eleven aces on her way to

a six four six three victory. well the win concludes an impressive second half of the season for the world number three after losing in the first round of the french open williams went on to win wimbledon then olympic gold and then the u.s. open and she finishes the year behind sharapova as well as the free to dropping out of the top one hundred and overcoming life threatening blood clot on her long as last season. it was important you know is another step in my career yet another stove so just like this is what i wanted to do and it was it was my main goal you know she certainly played a really consistent today and served really wouldn't get a chance to celebrate point today but yeah i mean overall it's all there's a few you know little moments where it could have you know found myself back in the match and and then she served extremely well and took those opportunities away but overall it's been a great week for me. let me walk juan martin del potro is the man of the moment on the men's tour after last week's victory in the end of the argentinian overcame

world number one roger federer in a strange set thriller to claim the swiss indoors title involved federal was hoping to win his home event for six time in seven years and was broken just once in the opening set but still last night at six point six seven seven six to the world number eight after almost three hours. now into baseball in san francisco giants clinched their second world series title in three years as they won four three at the detroit tigers to complete a four nil sweep in the best of seven series the two teams were tied at three apiece at the end of the regulation nine innings but it was the giants who snatched the winning score in the extra tenth run stereo had a single to right field and advanced to second base and brandon sacrificed before racing home to at single marco scutaro to make it four three to the giants then the closing pitcher saying no room i took to the man who struck out miguel cabrera to

seal the victory and the club's sevens all time world. serious crimes. yes you know for us to play like we did against this great club but i couldn't be prouder of these guys and you know to be world champions and to have out of the last three years it's amazing i believe me i know it difficult because you get here and i could be prouder of a group of guys that we're not. going to be denied and. now rory mcilroy has avenged his recent wall goal final defeat to sawyer woods off to the world number one beats the second ranked american by a single shot in an exhibition jewel in china the world's top two players look towards over eighteen holes with mcelroy probably in the better form after coming up just short of the shanghai lost his title on sunday as the northern irishman led by three shots off the two burdens the no going through holes the twenty three year old never trailed though after being greeted by a little on the twelfth day was chipped in for an important. couple of fogies later

on ruins the day for the fourteen time major winner as woods needed to hold out for birdie from the bunker on the final hole but just missed and mcelroy. he tapped in for paula to secure a five under par round of sixty seven you're going to court like a good tiger made a favorite on the back nine and i just tried to keep my nose or transcendent you know as it was that it was a great exhibition i think everyone here enjoyed it and you know their want to came out and hopefully they had a bunch of fun watching us you know play you know some pretty good after that. the final two ice hockey and with eight weeks gone the n.h.l. lockout remains the cage fails again as alexander ovechkin strikes helped another remain top in the above goal packed week. live

. live live. live

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