to get a firmer grip on the continent wide debt crisis next week but sam bauman from the adam institute adam smith institute says despite efforts the euro's days could be numbered. it wouldn't take a genius to see that there is a crisis approaching the arizona major call to that white crisis i think it is probably because of the government debt but i think the bailout in ireland has failed to markets that the old is still extremely high i would see in portugal and spain creeping up words as well so i think we're probably going to see quite a difficult year for the eurozone if not the end of the eurozone in the coming months i think we need to see it start looking to the future looking at how countries can return to their own currencies turn to a way that they're able to get their way out of these kind of high or low interest kind of bubbles that the euro was created here and get into a position where they have a currency that suitable for their own economies rather than for france and germany which is really what the r.'s are project was all about. that was sam bauman from the adam smith institute

which is really what the eurozone project was all about commentary from sam bowman with the adam smith institute coming your way in a few minutes our close up team goes deep down to explore the mystical magic that lies underground in central russia. the code blue ice is full of me as well as the perfect example of the beauty that the forces of nature can create but the the only thing that's unique to the region. you see. before we get to that the founder of whistleblower web site wiki leaks believes the pentagon is planning his prosecution in a documentary aired in sweden julian assange says he's also disappointed with how swedish justice has been abused by thirty nine year old us and british custody after stockholm issued an arrest warrant in connection with the rape allegations that assad firmly denies earlier in the week supporters of the website that has published hundreds of thousands of classified u.s. wires staged a cyber war on financial giants master card visa and pay pal all came under attack when they stopped collecting donations for wiki leaks meanwhile authorities got a yawn found o

seeing in london and across europe i'm joined by sam bowman he's the head of research at the adam smith institute sam thanks very much for talking to us now let's talk first about something that gordon brown's told the b.b.c. this morning which is that the problems of the euro on more than just their government steps in that he's expecting to see a euro crisis in the beginning of two thousand and eleven do you agree with that what sort of crisis do you think he means well i think for once cornrows actually been right about something i mean it wouldn't take a genius to see that there is a crisis approaching the eurozone a major continent wide crisis i think it is probably because the government wouldn't be surprising that brown would try and excuse ramping up government debt by a responsible leaders but i think the bailout it just failed to combine markets to go to still extremely high that we see in portugal and spain creeping upwards as well so i think we're probably going to see quite a difficult year for yourself it's not the end of the yourself in the coming months you see this as the beginni

from the adam smith institute says the next few months could see a possible end to the use. it wouldn't take a genius to see that there is a crisis approaching the. continent wide crisis i think it is probably because of the government debt but i think the bailout it just failed to bond markets irish bond yield is still extremely high and we're seeing portugal and spain picking up words as well so i think we're probably going to see quite a difficult year for the so it's not the end of the coming months i think we need to see it start looking to the future looking at how countries can return to their own currencies turn to a way that they're able to get their way out of these kind of. high or low interest kind of bubbles that the euro was created. where they have a currency that's suitable for their own economies rather than for france and germany which is really what the hours of project is all about. coming up in the program deadly disease a malaria kills people and yeah well find out why some in india say real numbers even funnier. than the floating palace boasting sunni

face tough times in the first months of twenty eleven sam bowman the head of research at the adam smith institute says there is certainly some truth to the statement. for one is going to be right about something i mean it wouldn't take a genius to see that there is a crisis approaching the. ultimate white crisis i think it is probably because the government wouldn't be surprising that brown would try and excuse ramping up government debt by irresponsible leaders but i think the bailout it failed to markets. are still extremely high and we're seeing portugal and spain creeping up words as well so i think we're probably going to see quite a difficult year for the it's not the end of the eurozone and the sooner the better really i think we need to start looking to the future and looking at how countries can return to their. turn to a way that they're able to get their way out of these kind of. high or low interest kind of bubbles that the euro was creating a position where they have a currency that's suitable for their own economies rather than for france and germany which is really what the eurozon

response to governments unveiling austerity measures to combat debts sam baum and from the adam smith institute the crisis on the continent spells a possible end to the eurozone. it wouldn't take a genius to see that there is a crisis approaching a major continent wide crisis i think it is probably because of the government but i think the bailout it just failed to markets to be able to still extremely high and we're seeing portugal and spain picking up words as well so i think we're probably going to see quite a good year for the eurozone it's not the end. of the road i think we need to start looking to the future looking at how countries can return to their seats turn to a way that they're able to get their way out of these kind of. high or low interest kind of bubbles that the euro was created. where they have a currency that's suitable for their own economies rather than for france and germany which is really what the eurozone project is all about. well even as one of the richest men in the world has still to hold tight waiting for his latest luxury yacht maybe it was worth the wait this is

from the adam smith institute the un's days could be numbered. it wouldn't take a genius to see that there is a crisis approaching the years on a major continent wide crisis i think it is probably because of the government debt but i think the bailout in ireland has failed to bond markets. are still extremely high i would see in portugal and spain creeping up words as well so i think we're probably going to see quite a difficult year for the eurozone it's not the end of the euro zone in the coming months i think we need to see it start looking to the future looking at how countries can return to their old courtesies turn to a way that they're able to get their way out of these kind of high or low interest kind of bubbles that the euro was creating a situation where they have a currency that's suitable for their own economies rather than for france and germany which is really what the r.'s and project is all about. public sentiment around the world is turning on bankers for wreaking havoc with the economy they're increasing calls to raise taxes fo

>> i think adam smith tells me that a moral sense has got to influence the way that both institutionswork and the way that families and communities operate. and i think we're rediscovering, if you like, that economics doesn't work simply towards a sort of efficient market model. markets can implode as well as deliver very successfully. and unless you have a moral underpining to the market system and unless people are prepared to operate with integrity at all times and be able and capable of being trusted and that means they've got to act responsibly then the system is itself at risk. adam smith taught that lesson and adam smith is one of the philosophers... keynes, i think, in the 30s showed how economic systems would work better by recognizing we don't always have markets moving to equilibrium. but it's political economy that's going to be resurrected as a result of this crisis. not behavioral economics just but political economy. and i think people are going ask what are the moral values that underpin the development of the chinese, indian as well as american and european economic s