it does have a touch of double standard policy about it if those nations had an opportunity for shutting down those offshore havens they certainly should have done so. who do you think is primarily responsible for the fact that offshore schemes are being conducted right in front of the regulators eyes do you think it's the regulators themselves the banks. with. the scale and scope of the two thousand and seven two thousand a crisis in the context of a globalized world was impossible to predict the magnitude of the crisis took everyone by surprise the crisis has taken its toll on every economy the u.s. is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries have anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that it was economists who had failed to give us an early warning or that it was the regulators who had failed to account

for all the risks or maybe and i think this is the case it was politicians who had allowed a boost in spending without securing revenues are driven as they often are by populist russia now as a result those economies were essentially living on credit i believe that one of the major precursors to the crisis had been exactly the fact that politicians who oversaw an accumulation of debt in fact when their economies were enjoying positive economic growth growth periods should normally be used to reduce debt when the crisis broke out those economies found themselves ridden with debt with no reserves to use as a safety cushion therefore i think politicians are primarily responsible for the fall after a rather direct question now what happened in cyprus can we describe this is an action to expropriate russian money and in general how much money did russia lose out on this or do you agree with president vladimir putin saying that what happened

there is going to make investors more inclined to keep russian money to keep their money in russia. i wouldn't call it a. action to expropriate russian money since there were not too many options to choose from this is a very unpleasant way to deal with the problem maybe even the worst possible plan but at least this is some kind of solution there was a better way to deal with the situation i think that the e.u. should have given more money to cyprus however the e.u. also depends on the politics of its member countries they didn't want to cover the losses of investors from other countries most of the investors were from russia and the u.k. which german taxpayers don't care much about russian or u.k. investors which that's why the choices were limited but again the e.u. had enough resources to solve this problem and be done with it they didn't have to go with the worst case scenario i think it was a better choice cutting investors' money is always the worst solution it's the worst case scenario that set

a bad precedent which can cause crises in banking systems of less developed european countries everybody knows now that this scenario can be used in other countries as well. in general the crisis in cyprus and the off shore leak scandal the fact that they more or less come at the same time is this a coincidence percent of the to. some say that it may not be a coincidence and there are some facts that support this view that as we know there was a major smear campaign in european countries there was a discussion of illegal russian money hidden in this zone as a result the public had a negative view of russian bank accounts in cyprus i can't really tell if russia was targeted specifically for this punishment but there are some facts that support this idea. now there's currently a pretty strong anti offshore campaign ongoing clearing a campaign against tax evasion which the organization for economic cooperation and development has gotten involved in why do you think it is that for decades everyone

seemed to be fine with offshores and now it really seems to be kind of the main counsellor in the european economy. political course not gratitude that is a perpetual issue when there is enough money there there is a feeling that it's ok to spend more or to increase taxes for your taxpayers finding money doesn't seem such a problem of course but once the current crisis broke out the g twenty was the first to come up with a list of offshore financial centers that were to be placed under regulatory oversight i was present at that meeting some three years ago and since it was france which initially brought up this issue since france has been exposed to rampant capital flight to offshore banks for purposes of tax avoidance when economies find themselves in a fix and there is no more room for the government to raise taxes that is when they go looking for runaway capital to tax it so the crisis has supposedly made a pressing issue political there is

a certain impression that problems in the european union and the united states here seem to be sort of piling up and not being dealt with that unemployment dealing with the financial sector do you think there is really some kind of gentle way of getting out of these problems or do you think that the crisis will show its face yet again. this is the biggest question which everybody is concerned with at the moment a central bank's adopt policies to mitigate the crisis and governments raise taxes or reduce them in order to stimulate the economy. everyone is wondering whether we are actually solving the problem or merely deferring it maybe we are just biding time to reform our banking system but either our reforms are difficult to implement or there is not enough time undoubtedly there are fears that the crisis may still escalate we're already witnessing a double dip recession in europe europe is probably looking at another year in recession that springs from the meltdown of two thousand and eight which means it

is being hit by a second wave of the crisis and everyone is wondering whether double dip recession will become a worldwide phenomenon so far it's difficult to predict anything with a degree of confidence but since all of the inefficiencies and imbalances remain unresolved to date there is a chance of a global second wave now in a more general question do you think people are living in developed countries are prepared to change their model of consumption their lifestyles are they ready for something like that. this is a good question which politically i think no one is ready it's very hard to make such a decision whether personally or politically to cut health care education and road infrastructure it's very hard to decide to restrain oneself and it's difficult for people to agree to such measures this isn't something they would want to do yet it is something that they'll have to do at some point those countries that come to

terms with it quicker will probably get an additional chance of becoming more competitive in the future now our question more about you would you be attracted by by the opportunity of working in the russian government again. i've answered this question a number of times before it's not up to me to decide whether i should work there or not if the government should be appointing people to work that but i strongly disagree with the present government's policy which was actually the reason i stopped working there i would be interested in implementing a different policy though but this isn't an option at the moment so i'm not driving to work in the government right now. if you don't have you in a becoming the head of russia's central bank do you think women in finance says is that a new trend or will it still be a man's world after all. i think it will be a trend slowly growing ones generally women will expand their role in society due

to emancipation and more equal rights in all areas of life in this sense the role of women has been underdeveloped and of undeservingly constraint. there were many reasons for it such as traditional views and other difficulties that stopped women from being just as equally independent and committed to work but this will be changing over time so i believe this is a long term good slowly progressing trend in that our board alexei kudrin thank you very much for your time with us today thank you. i. the movie world war z z being for zombie which stars brad pitt as one hundred seventy five million dollar budget has been of re cut by paramount executives not

because this is probably yet another stupid violent zombie movie but because the chinese might get offended according to the wrap dot com china was supposed to take the blame for starting the evil zombie apocalypse this time but china becoming the largest foreign market for american movies made artistic integrity fly out the window to protect the bottom dollar as is tradition in hollywood this is not the first time that there has been pro-choice and the censorship in hollywood the remake of red dawn which was originally a cold war era a minstrel show against russians was supposed to show a chinese invasion of america this time however they have changed it to north koreans who can't even defeat the u.s. military in south korea let alone at an away game in the usa the thing that is interesting is not the censorship is the fact that they will censor movies for whoever's got a lot of cash is the big markets won't be offended but countries with small markets will this is a complete prostitute mentality show that love to any guy who's got bills in his

palm you know i was always pretty sure there were a lot of prostitutes working in hollywood i didn't know they actually started making the movies but that's just my opinion. my.

hubby up i. ok going to fuck all. right no way things are going to republican texas and be

a whole lot better off for the state of texas texas has got its own like. has got all the oil and gas and everything it needs it's got all that and. everything in me you can survive by itself the rest of the united states which is to say the rest you. cannot survive without which reminded her. striving for bread and an independent future. republican texas analyse. so.

her. voice told stories set. that made the news for most of the last seven days the worst terror attack in the u.s. since nine eleven after a dramatic manhunt for suspects investigators now want to know why an american

citizen and his brother could stage two deadly bombings in boston. venezuela plunges into post-election violence that the seven dead there's opposition supporters contest with duros razor thin victory with street protests and demands for a recount. and clashes in bahrain just hours before the formula one grand prix an event which protesters call an attempt to mask the kingdom's human rights abuses . very good morning for me kevin owen here a moscow this is the weekly a roundup of the top stories that made the news over the past seven days it's good to have you company the top story than just after one am here the investigation into the boston marathon bombings is now working on what triggered two young suspects into carrying out the worst you.