more news today bought lim says once again flared up. these are the images cold world has been seeing from the streets of canada. showing corporations to rule the day. hello and welcome to the business program with me that i had scam in the latest

attempt to overcome its financial problems cyprus has agreed to sell its gold reserves the move would raise four hundred million euros but that's a drop in the ocean considering that cypriots need twenty three billion euro over the next three years it has already secured nine billion euro from its european neighbors and about one billion from the international monetary fund it has to come up with the remaining thirteen billion euro on its own so to discuss this and more details i'm now joined by a correspondent. we had a chance to speak with one of our experts steve jacobson from saxo bank so what does he say about this initiative by cyprus to sell some of his gold was there a sense that if they actually felt their gold reserves may help cyprus but the effect will be very short term it may buy them some time but it will definitely not favor the contre and overall jacobson is in

a very upbeat mood and says that as things are now they cannot get a new worse cyprus spain italy all of these are seeing rising unemployment legged productivity leg of implemented reform and collapse unchecked revenues but for some reason to meet you and all these can only focus on one country because you really look at the whole of europe we realize that growth is substantially below what is expected and if anything our growth projection for two thousand and thirteen should be minus one and then again that's why i'm positive because i don't think we can do you any worse also serve the cyprus was not a one off before before we have agrees that was called a one off and he says once politicians have done something they will definitely continue to do so so probably by the end of. this year will see flow venia as a max so called one awful if it is talking about the domino of saps who are no longer hoping that it would just be a one off yeah so for so he probably of all sarcastic but you know what he says

that the real game changer they see a little bit german is the election and he says that this will be the time when europe will get three of the of the illusion that germany will rescue them whatever you do mathematically practically and of course politically it's impossible for germany to actually engage in helping europe they can be part of the solution for that cannot be all of the solution that's why the german nation when burgas related that is not the exciting part she wrote in to relate to how she forms the government with whom she forms of government and on what platform is what i think can be a catalyst rather than a crisis point it would be a catalyst for either more you would lift your fiscal union are not and that's why it is so significant. well actually it does seem like there's really no hope about germany being sort of the white knight the savior and i'm just this week we sort of heard from billionaire george soros who actually came out and said that. germany

should either have backed back the euro bond that essentially collective death right there or just leave the eurozone just underscores how unstable things i am in germany actually jacobson says that all the mockery cannot make matters that what the broadly used before such is going to stiffen easing absolutely exhausted and what japan is now doing is injecting trillions of young into the economy will only prove that it will never work and we've compared the whole world is doing it and you have to remember when everybody's doing funny today easing and everybody's currency manipulating we're bagus grab one no one has a competitive advantage so the reason i'm very positive is currency rates always comes at the end of the many police and cycles so my positiveness conscious fact that i think we are going to decide in terms of macro many police and policies because they are clearly not working while on employment going on we've quantitative easing was working it's not a transitional anymore this is five years into this experiment no serious doom and

gloom i mean almost uncharacteristic of jacobson's so what about all of us. through here only believe in a complete reshuffle or via global economy forced by a war or some crisis never seen before so really dramatic of analyser ethic thank you very much to tell the public over. moving on us president barack obama proposed a budget that would help cut the deficit obama propose doing that by taxing the rich among other things. households that earn more than one million dollars a year will have to pay at least thirty percent in income taxes the draft budget also put a cap on the deductions that the wall think and claim the united states is not the first of course to ask the well to do to pay their way out of the financial downturn the united kingdom and france they all attempted to do just that and we

saw that these measures really backfired as are correspondent and she can now reports the draft budget will face fierce opposition from the republicans who traditionally fight tax hikes. president obama's budget heavily relies on tax hikes dave ministration is looking to generate revenue and to at least try and tackle the humongous deficit that the country is running his proposed budget features a requirement that households earning one million dollars or more pay a minimum of thirty percent of their income in federal taxes instead of the current fifteen percent rate yes under the current u.s. tax system a number of millionaires pay a smaller percentage of their income in taxes than much of middle class america warren buffett for example pays a lower effective tax rate than his secretary so calling on millionaires to pay their fair share the president's proposal appeals to the majority of americans but the country's millionaires and billionaires the two percent that is could soon be packing their money to fly elsewhere major u.s.

companies have already stashed around one hundred seventy billion dollars in offshore accounts to save on u.s. taxes the same goes for wealthy individuals even the former president and presidential candidate mitt romney parked his millions in cayman islands which apparently have a better fiscal climate here inside the u.s. many high earners move between states to save on taxes to places like florida or texas neither of which collects state income taxes or state taxes then there is the recent european millionaire exodus particularly from france which under president francois hollande has been weighing a proposal for a seventy percent tax rate on millionaires so president obama's tax hikes may result in the flight of more capital from the u.s. . and it's time now to check out the equity markets on wall street which is actively trading this hour is started out as the second straight day of gains that the s. and p. five hundred two new highs but at the last check the dow was still trading above

the law of all the nasdaq slipped into red the latest jobless claims dropped more than expected and that's of course a good thing adding to the optimism over in europe where the equity is finished today on a very note the games were more modest than in the previous trading session but you have to keep in mind that it's been gaining for the past four sessions in a row moved on to the currency markets the euro kept strange coming to the dollar on thursday in fact the single currency is at the highest level two dollars about six weeks and as you can see here the russian ruble and they mix it was stronger to the dollar but a lower to this single currency and what it comes to the russian equities they didn't do nearly as well as their western counterparts on thursday we saw a pretty serious correction of both of my sex and the r.t.s. metals and mining stocks managed to do better than the market except for russia's

largest steelmaker you have rods it was one of the biggest losers on both moscow and london investors really punished for not paying dividends amid mounting losses and shares over russia's oil major role is now off to drop along with the market on thursday as the company announced its plans to spend fifteen billion dollars on building a liquefied natural gas plant in russia's far east it will split the cost with its partner in the project a u.s. oil giant exxon mobile and that's the latest from us and business in just a couple of minutes kevin will be back with evidence. this land. by conflict. has changed.

a modern islamic nation. and a peaceful one is from islam the first of course secular law a second. fashion. and so. in places. where traditions still. mando cannot go on the catwalk in a swimsuit it's. just a republican country see. wealthy british style.

markets why not come to. find out what's really happening to the global economy with mike's concert for a no holds barred look at the global financial headlines tune into kaiser report on our.

about international and world in the very heart of moscow. hello again what is three brits could find themselves on the street should they lose their job the startling statistic comes from a u.k. charity and follows controversial welfare reforms by u.k. lawmakers because in london with more on this other poll it's a worrying revelation has come out isn't it. well yes kevin this is a report that really shows how precarious so many brits financial situations really are and the statistics laid out here paint a worrying picture about so many britons who have either little or absolutely no savings for a rainy day one in three brits in fact say that they couldn't afford to pay their rent or their mortgage if they were to lose their jobs and of course the very

worrying and dangerous implication here is the potential increase in homelessness that this could result in we've seen of rastas mean welfare cuts come in this april they're slowly being rolled out the controversial bedroom tax is among them and a lot of people worried that that's going to lead to an increase in the amount of people on the streets but very sadly the number of homeless people was rising in britain even before the cuts came in we traveled up to bombing him recently in order to fill a story about homelessness there and what really struck me kevin was the number of very ordinary hardworking people that had ended up on the streets after having a roof over their heads one chap i remember that i did met and i was talking to said that he was working as a bicycle courier and he had a very steady job and once he lost it was very quickly that he wound up on the streets so joining me to talk about this today is andrew sarris from

a charity called rhythm of life international is it really that thin the line between having a roof over your head and winding up homeless on the streets. i think your most about two to three months away from losing your house the mortgage companies want their house back if you knew there's a lot of people know coming to our child to rhythms of life food banks we know going to be homeless for you shortly. hardly any money in the banks little bit of food that's for expensive now the food is going to spencer. at the same time you know the mortgage companies have no put a barrier to one or two months and that's hitting the fan many people who come to us. full time jobs that lost their jobs now they have no job. even with made redundant so money that they had run out of two to three months or so they lost it . with their families to feed expensive food mortgages to pay their last home so

that you yourself have firsthand experience of living on the streets how did you wind up in a situation yourself i think i found myself in a similar situation many years ago that particular time there weren't many people help in this either. having business expanding the business and having maybe said modestly large property upon myself that interest were rising through the roof you do talk about eighteen percent interest at the time from five percent to eighteen percent is a huge amount of interest fund myself that if one thing goes everything goes there's nothing to help back there's very a lot of people would be very surprised that a homeowner wind up on the street somebody has a business on the home that's quite shocking absolutely yes no there's no different yes you can different if the council homeowner or private homeowner if you can pay the money that if you lose it you end up on the street you can go on and on the street for many many years once you've lost it you've lost it it's very hard to get back on that home track particularly now in this day and age you couldn't buy

a one bedroom flat for i don't know hundreds of thousands of pounds these days and a lot of people nowadays or at the moment are raising concerns over this roster of new welfare cuts that are coming in saying that this could lead to a potential increase in homelessness do you anticipate such an increase over the course of the year we don't just anticipate it we see it every day we see it at the moment where people are coming in and they've lost their homes already because of the cuts because they lost even their flats they were renting. on a long term basis the lander's have decided or the managing it into the decided they go to go and they can in notices to lead literally just to leave that it the cases where women are pregnant because you were there single mothers with the children who come to us for food at the moment and put vice to say that look we've lost is what do we where do we go from here and would you do would you tell a young mother would you tell a young couple with children to say look i'm sorry but this is the best we can do

for you we can only refer them to somebody else and yes they have lost their home but they do renting but they've had their own home year and so they've lost everything literally much they have a cavern as we've just heard where the welfare cuts are only just being rolled out a lot of campaign is in charities anticipate a very sad increase in the number of homeless people in the u.k. indeed thank you both for alerting us to the. afghan forces backed by foreign troops of raided a large drug lab in the country's helmand province several tons of opiates for the street value over a nine million dollars were found the destroyed despite desperate international efforts to curb narcotics production in afghanistan the industry has flourished in the decade since the nato led invasion and this global headache shows no sign of easing either reports for us now.

and that's in just over a decade from when the u.s. led its enduring freedom campaign to rid the country of the tyranny of the taliban while the regime came crashing down it was quite the opposite for the drugs trade and with russia now ranked the highest consumer that's got the authorities worried blueboy industries that was the scene when heroin production in afghanistan has risen dramatically since operation enduring freedom was conducted in two thousand and one it's forty times higher now any impartial observer would admit that the international community does fail to rectify the situation with drug production and in fact russia's drug control trip has described production in afghanistan as planetary and the figures prove it illegal often farming in afghanistan since two thousand and one has been on a constant rise increasing by twenty times in the last twelve years afghan count in a call to officials say they spray an estimated one hundred fifty seven thousand

hectares of land have been illegally used to grow opium poppies that's the size of a major european city like london in each of the nine growing seasons there has been more open poppy cultivation than during any single year of the taliban's rule the fields have expanded everywhere throughout afghanistan in the south of the country the rise was not dramatic but that's only because these regions have remained the biggest drug growing areas so there is simply less room to expand and the country's east bordering pakistan the land suited by opium poppies is now ten times larger this is just one of the country's many gates from where afghan drags pass through on their way to every part of the globe to pakistan iran middle east turkey central asia russia europe central. western europe africa and both americas interestedly in two thousand and eleven officially the

country exported three hundred seventy six million dollars worth of trash and dried fruits spices carpets for that same year the u.n. estimates the country's opium in comes to that one point four billion dollars the lion's share of this money obviously goes to district officials insurgents warlords and drug traffickers while they have damp people get instability and poor pertains to add a third of the country's thirty five million strong population is jobless and more than twelve million people live below poverty line it seems they us led in during freedom operation all those years ago has left the afghan people with more than freedom to do are. r.t. moscow right now at r.t. dot com lim opposed his name appears on a criminal blacklist in finland which could theoretically have meant that the russian approach that would be subjected to automatic detention if he crossed the

country's northwest border this connection with a major russian squad that led him to be ending up on this database also on the website as well was scotland's proud to say this is his nation would be an active nato member if it breaks wavered in the alliance gives no such guarantees back to edinburgh want to check their pleas to force a good reporter i'm just looking online as well the consort exxon mobil oil spill you may remember we covered that at length a couple of weeks ago got some pictures this awful mess we're now hearing of course that is bigger than was initially thought are console state attorney generals and the should point pipeline and the problem there was an issue the thought was smaller is much bigger if you want to read up on it artie dot com is the place we get up to speed on what is make a video and when we come back after the break. with

oil pipes bursting in arkansas people cross the usa start to realize that they are moving towards what the atlantic calls the infrastructure cliff in short america's infrastructure starting to get a bit old and according to infrastructure port org the us needs about three point six trillion dollars of infrastructure spending by twenty twenty to turn things around the site sponsored by the american society of civil engineers gave all aspects of american infrastructure like bridges and drinking water and schools cetera some pretty bad great except for solid waste from a well for some reason in their opinion everything in the us is going to crap except for america's ability to throw solid crap away i'm not trying to sit here and scare you there is nothing to fear this is a big challenge but it is a very possible one to accomplish according to cost of war dot org the last ten years of war of cost about three point one trillion dollars just cutting wars in half by fifty percent could put

a huge dent in the infrastructure spending and what about all those billions in bailout that were spent you see the money is there it just gets wasted if the money stops getting thrown away and starts getting spent a well planned infrastructure then the infrastructure will start paying for itself rock'n infrastructure creates wealth so don't fear the infrastructure cliff just stop wasting money or allowed politicians to waste money and everything will turn out to be just fine but that's just my opinion. speak your language. programs and documentaries in arabic in school here on. reporting for the world talks scipio interviews interesting story to tell you. the truth. visit.

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