the cash strapped european union mounds a crusade against the continent's banking hubs declaring open season on account privacy and tax evaders alike. russia's mediation effort in syria goes this sums up from the yuan but faces obstacles from powers that want to arm the rebel forces that despite evidence of atrocities committed by them in the anbar and civil war. and iraq is trying to restore basic services and infrastructure left in tatters by the american occupation the country's devastated by a series of bombings that have left dozens dead. international

news and comment live from moscow this is with me here leisure paula hello and welcome to the program bonking privacy could soon be a thing of the past in europe that is if you or your wages have their way your clients have been pushing hard for access to all account data on the continent and even switzerland and no member nation has found itself being squeezed and there's all these case you peel the reports the prospects for the alpine banking on looking good. so what do we know about switzerland that while the mountainous country sells tasty chocolate it is home to some of the finest watches and it's a great place to ski but when it comes its banking sector well that's when it also is getting a little bit secretive of a nearly one hundred years this secrecy attracted some of the world's mega rich to the country now to qualify for the flat rate tax deal on offer the rich are not actually allowed to work in the country but must have

a net world of at least two million dollars now this ystem has attracted more than five thousand affluent x. patches to this nation of only eight million people including. twain now well they are foreigners collectively give seven hundred million dollars in federal and local taxes maybe it is that could be going into their home treasuries this cozy arrangement may soon be a thing of the passes the e.u. caps down as such juicy tax incentives the e.u. is also piling pressure on members luxembourg and austria as well as san marino and dora and monaco which are actually not members of the union now luxembourg recently changed its chain just last month that actually agreeing to lift bank secrecy rules for european union citizens who have savings that. so what all these tax haven

countries actually expected to do that well quite simply explode the e.u. want to be able to check out by tea towels of any individual whenever they want without requesting permission first and considering in sign for as the banks were worth seven times as much as the country's g.d.p. in lots about for example they're worth twenty two times more the situation could be catastrophic than if you put it in that way so in a walled world banking secrets are no longer kept these havens may have to find another way to seduce the great. european regulators are being pushed to take drastic action due to dwayne going revenues and soaring debt adding fuel to the fire are a series of tongue scandals involving top politicians and business man caught structuring their fortunes in illicit accounts and. explains they could be many more of these revelations if the veil of financial secrecy is lifted. because of

this increased efforts from e.u. leaders and the pressure being piled on them there have been a couple of scandals that had arisen over here one of them in france which involves general he's a former budget minister who had had to step down from his position because he had lied about having an offshore account and is also under investigation for possible tax fraud now over in germany another prominent figure who was the boss of one of the world's biggest football clubs by in munich also admitted to being involved in tax fraud and is under investigation so as efforts to increase among leaders we can possibly expect some more big names to come out as such now also recently we know that there has been a massive leak of data to the international consortium for investigative journalists now this data includes the name of some of the world's wealthiest people the politicians all the guards very public figures which reveal a lot of their wealth parked in the various offshore accounts in the world no journalist have been sifting through this information but service should be

american governments leading to some sort of a global effort which is precisely what the e.u. wants to lead to they really want to make this a global exchange of relevant banking data as they say so as we have seen them really impose strongly on cyprus so we can expect some political pressure to be piled on the likes of switzerland and liechtenstein as they start these talks and as leaders try to find ways to bring back some of that money to deal with the crisis that they're in. the climb down on bank secrecy comes as the european union pushes ahead with this proposal for a banking guinea and one that the deputy veto of the u.k. independence policy believes could make it easier to rate depositors accounts. we all know why they're trying to do this we all know what the attempts it's basically to harmonize banking across the european union to create a banking union which is what the germans in particular ones because they know in

the end if they are going to be a people's bank accounts like they've done in cyprus if they are going to do this the big countries they need this banking union and in many ways they will need to be a people's bank accounts to ensure that the euro continues because bailouts are going to keep coming of course we know that slovenia is now in serious trouble spain has on employment which is youth unemployment which is around sixty percent in greece we have soup kitchens on the streets of athens we have people leaving children on the steps of churches because they can't afford to live so there will be more bailouts in the pipeline and obviously the european union has to look at different ways of raising that revenue. elsewhere bitcoin an online currency is set up to get around the bank's comes under siege by the u.s. government sending ripples through the internet community that he uses the fledgling monetary system and raising fears that it will be fluffed out before it really gets going that's coming up in around ten minutes.

to launch direct negotiations between the conflicting finds in syria is now receiving support from the united nations secretary-general ban ki moon has become the latest in a string of high profile figures visiting russia to discuss this they were in civil war and has given the green light to russia's talks initiative this fall in the diplomacy in the black sea resort of sochi the u.n. secretary general and russia's foreign minister announced that they completely agree that the conflict in syria has to be resolved without any foreign military intervention and it would be full respect of syrian sovereignty and territorial integrity at the same time mr bond you move supported the idea of this joint conference which would involve both of the syrian opposition and to be authorities however due to diplomatic also listed some of the key stumbling blocks at the moment first of all the opposition is still very divided and it's unclear who can represent it as a whole at this conference or secondly according to

a foreign minister. it will be nice to see all the regional players there taking port including iran and saudi arabia which make problems with washington prior to meeting with the moon in his interview. that if the syrian authorities are ready to take part in this event then the rebels are still making preconditions. in contrast to the syrian government which has responded quite positively to the russian american initiative the opposition's on that was quite vague they said that they welcome any initiatives that will help stop the violence before that assad must go reiterating their stance which has been the cause of the deadlock for many months. a visit to sortie continues this diplomatic marathon that's been happening recently russia was earlier visited by u.s. secretary of state to the prime ministers of great britain israel and other full of syria of course dominating the talks however some problems are still remain for

instance with the united states one john kerry visited russia it seemed that they were completely on the same page with moscow but as soon as he left he started again calling for president assad to resign and promised to increase the support of the rebels which was just recently backed by president obama so definitely a lot to talk about for u.n. secretary general as he is still set to meet with the russian president later on friday of course we'll be bringing you all the details as it happens. the smiles and handshakes seeing their agreement on syria come despite a new resolution recently passed at the un general assembly the document which was opposed by only twelve nations including russia clearly favors the rebel forces this despite the armed opposition is facing accusations of atrocities on a daily basis. of race here with the details there's been an avalanche of

international calls from those who support the syrian opposition suggesting they should receive more weapons and that the non-lethal aid they're already getting is not enough and what's been largely ignored by the rebel backers is a search and videos posted online allegedly showing the cold blooded revenge killings that these people are resorting to in this civil war this is the latest video which purports to show three syrian soldiers being cute is by opposition fighters on the town square footage the rebels are shooting eleven that's right eleven government troops and they had reports of this atrocity came from the city of daylight hours or in the northeast of the country and this is the video that's caused poor enough anger in recent days a rebel commander assumingly cut out the heart and lungs of a uniformed soldier and bites into them an act which left even the syrian opposition shocked and appalled of course it's very difficult to verify average

coming from the war torn state but let's look at the statistics provided by activist groups they argue that the death toll in the syrian conflict peaked when the gulf states and the united states reportedly sent more weapons to the region if than foul one arms were restricted before increasing once again when the supplies allegedly resume and that may be a simple acquaints event of course but non the less it suggests that arming the syrian opposition may be causing even more bloodshed. and coming up later this hour the tough challenges facing iraq and iran to gauge new car is thing that's put washington on edge that's one more after the break. choose your language. call if we could with oh if you're going to send us a still some other. choose the news good consensus you can.

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and this is also coming to life from moscow welcome back in iraq at least twenty six people have been killed in an explosion outside of a. to the north east of baghdad that brings the death toll to fifty two in the space of two days after a string of bombings across the country the latest such a violence has crushed hopes of restoring infrastructure so in terms of after the us invasion. of found out. it is the land between twin rivers ancient day in mesopotamia modern day iraq and in baghdad there's no shortage of ways in which water is used to wash cars to clean shop fronts to store freshly caught fish before their gutted for sale everything it seems except drinking it personally nobody drinks the city will because we know it's not clean since my wife

had to run on what comes out to happens contaminated makes us sick how can we dream can't. water is just one of the many services that still lagging in post-war iraq despite years of promises and billions of dollars spent on reconstruction many neighborhoods lack sewage systems there's no trash collection in some settlements there are barely any streets iraq's central power is sometimes on for as little as two hours a day this mess of wires is a common scene all across iraq it connects homes to private generators people have to buy electricity to cope with the hours of daily blackouts ten years after the war it's a symbol for much of what's wrong with a rock a crumbling infrastructure a libel services and a tangled web of a walker sea and corruption. you know what the energy crisis has meant more work for album area and electrician who says he now earns about four

times as much as he did before the war the grid is in shambles and breakdowns are frequent but he says the government is simply not serious about fixing it. it's the citizens who suffer in the end not the government the services are so bad the power system has really deteriorated there were billions spent on fixing the grid but there's little to show for it. the government has promised improvements in public services but officials say it's a monumental task the infrastructure has been put to the neglected end of the previous games and the damage is enormous there is a need to rebuild everything that's required is tens of billions of dollars but the dollars are flowing along with and largely because of oil that's what accounts for most of the revenue in iraq's one hundred nineteen billion dollar budget here at the college were fine reproduction more than doubled in the year that it was here while industry had been out of one of the right one for you that way by. the ramp

up transparency international ranks iraq as the eighth most corrupt country in the world which in part helps to explain why services are still lagging most of the reconstruction money was squandered through fraud and abuse from an awarded one point seven billion dollars worth of fake electricity contracts it's a paradox that frustrates many iraqis theirs is one of the wealthiest pieces of land on earth but its people are some of the poorest. nowhere is that contrast more stark than here the landfill on the edge of baghdad many of the families living here have been displaced by the war but now they're waging a daily battle just to survive services are simply nonexistent. the conditions are horrible there are no schools for the kids here no electricity no real houses to get a drink of water we have to travel for kilometers it's very difficult to live here for now they must remain among the refuse uncertain like the rest of iraq as to

what will come on the winds of change you see calvin baghdad iraq sometimes highly developed communication services can also be a cause for concern the world's best known whistle blower jr fund has warned that america's communications technology actually threatens the sovereignty of other nations on our website. and please don't stop in music it could soon get much harder to find your favorite tunes online as opponents of internet privacy an unprecedented plan an unprecedented corporate protection campaign more details for you at all to.

be independent online currency bitcoin has had a serious snog after u.s. authorities blocked the account of dollar a business that allows users to convert u.s. dollars into bitcoin on black again the department of homeland security says the peer to peer currency runs roughshod over new laws that require online transfer systems to identify its users were enough work now explains now the move is a warning shot for the fledgling currency. the u.s. government has made no secret of the fact that it is keeping a close eye on the point but now it appears that the close eye includes a crackdown on the decentralized digital currency the department of homeland security has seized the company known as to wall law which allows customers to transfer their u.s. dollars into points on tuesday washington shut down while his ability to process point payments now the u.s.

warrant alleges that the iowa based company was operating as an on the license money transmitting business because the wallow wasn't registered with the with the department of treasury's financial crimes enforcement network now some economists believe the timing of this case is no planes that see the popularity and press surrounding that point is skyrocketing and the use of electronic currency is growing more appealing to investors and customers around the world this of course threatens the long held grip that governments and banks have had on currency regulation and interest rate manipulation this new york city farce last restaurant behind to be known as ever again except to the point last month so far the midtown business has reportedly processed more than twenty thousand dollars worth of transactions in the morning now while wall street remains less than eight kilometers away from here the financial industry to its disappointment is far

removed from the way in which the business of the morning is operating according from new york very important party. and let's now take a look at the big coins bond to see what's called the u.s. government so concerned about the independent online currency the closeup that was fast floated in two thousand and eight by and ninety x. but whose identities still inspired by the financial crisis big client was created to let individuals transfer money directly and even spend it in some shops while avoiding transaction fees don't like currency has become more and more popular with people using their across the globe the value of bitcoin spiked to two hundred sixty dollars in april and died over than died over concerns that governments would climb down on the money and christopher hartwell who is a market analyst things the u.s. will crush any alternative currency which threatens national security well.

it's probably. slower than excel or a. spiral i would say one of the government starts getting involved here it was crucial roads that are necessary for becoming continue to actually operate. i don't see how it can really go on forever or how this is. just because this specific goal. is. basically how to get out of existence doesn't mean that there aren't going to be imitated or other types of alternative currency that are going to exist but i think. once especially when the united states government really gets. to go out there something especially something kind of alternative like this really has little hope of surviving even though it's got a very good job of being very decentralized. these kind of crucial access points

and the government is. on to some other international headlines in brief now a train has derailed in hong kong injuring more than sixty people in the north of the city three people were taken to hospital with serious injuries officials have not said what caused the accident but passengers say the light rail train was speeding round a corner one of the trucks. a gay pride parade in the georgian capital tbilisi descended into chaos after a crowd of also took questions storms the band attacking the acts of its police well sourced scored the paraders onto a bus there's clearly who lives led by a priest and reach out chanted against rampant immorality in georgia where homosexuality remained trouble actually. twin blasts have hit the sunni mosque in northwest pakistan killing at least three people around

fifty others are reported injured with many in a critical condition a rescue operation is currently under way as search crews try to pull people from under the rubble the taliban has previously claimed responsibility for similar talks in the region. the military has carried a series of air raids tell you think militants trading cards in the north east of the country at least twenty one insurgents are sought to have been killed in the offensive a state of emergency was recently declared in the area after a series of times by the wrong group which ones to great an islamic state in nigeria's north. broken gold bug may have caused the explosion at a plant in texas which left fifteen people dead last month investigators are looking at whether faulty by trees on the buggy may have sparked the fire which caused the blast the double explosion happened the moment planes touch tanks filled with chemicals and destroyed nearby homes and schools. and the murky world of

corporate spying and the techniques used by tongues daughter is next in prime interest. a fairly dickinson university study has been revealed to twenty nine percent of americans think that a revolution will just happen in america but needs to be done in order to protect individual liberty if respondents consider themselves conservative than that number is bumped up to forty four percent that's nearly half also fox news found out that since nine eleven the percent of americans willing to sacrifice their personal freedom to reduce the threat of terrorism is at an all low this number might sound trivial but it only takes a tiny percent of the population actually start a revolution i mean how many communists were in russia at the start of nine hundred seventeen and how many were there at the end revolution may sound like

a nice thing to a growing number of people but the media wrongly portrays revolution as some fun video game battle where freedom fighters toppled a statue of the dictator and then democracy just instantly comes about and life is good and happy i'd ask you to ignore movies like v. for vendetta and look at history revolutions cause horrible destruction that could take decades to repair i guess what when your economy collapses because a revolt infrastructure breaks down and the shelves go bare also professional revolutionaries get their supplies from somebody and a foreign powers would have say fundamental revolutionaries they would want something in return aloha and goodbye alaska if you look at history then you'll see that revolution is brutal and ugly and it's truly the last resort but still is a resort but that's just my opinion. good afternoon and welcome the prime interest i'm harry and boring here and the

washington d.c. and here's the stories that we're keeping up with today. baser targeting bloomberg after new revelations emerge about reporters improper use of confidential data j.p. morgan itself is under fire for labs and risk controls last year has as bloomberg to provide confirmation of its controls allegations are swirling that the london whale story itself what the bloomberg broke last year may have been a result of an improper delivering of the leader data and goldman is using the opportunity to turn the screws on bloomberg broker dealer operation we'll be discussing bloomberg gave a link today in a special segment and in a live interview with christopher chambers how do you remember credit default swaps they were at the at the center of the a.r.g. goldman sachs bailout and pay off in two thousand and eight yeah the market for these insurance contracts and corporations and government is undergoing a make over a new proposal by the international swaps and derivatives association would change

the rules about when the contracts pay out and the government tries to bail out a bank by forcing losses on bond holders instead of tax payer and the insurance contracts on the bonds or the bank would pay out basically is an escalation of too big to fail so get out your popcorn as the players of the sixteen trillion dollar market do get out now let's get to what's in your prime interest.

we've heard quite a bit about bloomberg lately. the news and financial service company bloomberg caught in them embarrassing situation the financial data and news company have allowed journalists to see some information about terminal usage of its customers to anyone of bloomberg in their broker dealer make money off this information and. so today we're going to break down what we've coined as bloomberg gate and explain what exactly is going on in bloomberg eight well this is the scandal much of bloomberg reporters use private data from the company's terminals to further their reporting it also involves the posting of thousands of bloomberg terminal messages online so what the bloomberg terminal well is a computer system that allows users to access bloomberg data as includes real time financial data newsfeeds and met.