a void in leadership and while the french have been quick to announce their finance minister christine legarde as a candidate this time around europe might not find it so easy the brics brazil russia india china and south africa have written an official letter reminding the i.m.f. that the world is changing and the financial institutions leadership needs to reflect that so if the brakes do indeed revolt considering that western nations are the ones over indebted and needing all the help right now but with a record questions before europe could it be a little bit of payback joining me to discuss this is gregory white editor of money game for the business insider greg thanks. so much for joining us tonight for starters obviously europe is still reeling from the fact. that involved in a massive sex scandal had to resign and they're looking for new leadership but does this letter also shake things up a bit does that does it deliver another blow well it certainly makes it not an easy process for them to get christine legarde in charge it's probably still going to happen but it's certainly the brick

one of the strongest economists in the euro zone some remain skeptical about her progress and christine legarde complex. they're. more of the same as long as they can sustain it's not obvious you know. the. default. perhaps even leaving europe so they may not be able to maintain but the trend is for them to continue to try greece's debt is what i mean unfortunately are too far ahead and soon to find themselves in a very similar situation the person asking why must there be you know the help and what happened to promises of friendship basis some at first seem to have short memories i think but if christine does get the job i think it will be a trio of be. only a few months ago had said that and that they should be a change in the global order. india and china over the last four years have been the world's largest economies and it's india and china. that have really pulled the world out of the economic slump the better ties been in the last three of the world's most powerful organizations the international monetary fund has the power not only to receive countries but to plunge them into despair t

need someone familiar with the problems of the euro the euro is the french finance minister christine legarde and while europeans hail her as one of the strongest economists in the eurozone some remain skeptical about her progress and christine legarde complex and. more of the same as long as they can sustain it's not obvious you know. maybe a. default. perhaps even leaving europe so they may not be able to meet. the train is for them to continue to try places debt is one of the heights in portugal are too far ahead and seek to find themselves in a very similar situation. person asking was to be given the help and what happened to promises of friendship basis some at first seem to have short memories i think if christine does get the job i think it would be a betrayal of the i.m.f. . if you remember dominic strauss only a few months ago had said that there should be a change in the global order specially since india and china over the last three or four years have been the world's largest economies and it's india and china that have. really the world out of the economic slump that it has been

if they don't unify behind a single candidate it's going to be european and it's going to be christine legarde who's perfectly respectable but if they go to unify behind a single candidate it's just not going to happen for elementary political reasons that aren't the ocracy or west versus east or anything else ok if peter if i can go to you i think it's going to be a good. peapod and point here is not actually about which countries have which votes and what do they represent because i think if we look at the reality of the situation as many of the candidates that are mentioned as coming from emerging markets are equally problematic in terms of how they would run the fund as you would think of most of europeans particularly christine legarde so if you're talking about a candidate who was educated at the university of chicago with a ph d. in in orthodox macroeconomics which as we've seen from the last five years is based on theories which are completely flawed then we don't want that kind of person running an i.m.f. which needs to update its thinking and update its policies into the twenty first

one of the strongest economists in the euro zone some remain skeptical about her progress and christine legarde complex. i think the short run bear. more of the same as long as they can sustain an obvious you know greece maybe at the edge of default. perhaps even leaving europe so they may not be able to meeting but the trend is for them to continue to try greece's debt is what height spain and portugal are too far ahead and soon to find something very similar situation. numbers are asking why must there be or even they admit and what happened to promises of fresh faces some at first seem to have very short memories i think that if christine legarde does get the job i think it would be a betrayal of the. promise if you remember dominic strauss kahn only a few months ago had said that that there should be a change in the global order. india and china over the last three or four years have been the world's largest economies and it's india and china that have. the word out of the economic slump that it has been in the last few years one of the world's most powerful organizations the international

i spoke to the french finance minister christine legard and the european chancellor george osbourne. the combination of bailout is simply not working for greece, is it? >> it has begun to work. it's not come bleetly done, clearly, and there's a lot of work that needs to be done, particularly by the greek people and the greek government. we had a deal. we had a deal where we bailed out on the one hand, and the greeks were to complete a number of things on the other hand. some of the things have been done, but not all. >> do you think the conditions on the bailout were too harsh? >> i think the conditions were tough, but they were not unrealistic, because the same kind of things were done in belgium, were done in the in orderic countries, and it was approved by parliament and greece. but it's a question of delivery. >> but there's no delivery and they'll be looking for a second bailout. do you rule out a second bailout? >> what i don't rule out is the fact that greece has to deliver on the consideration that it promised, and those included the deficit reduction, which they did. it incl

someone familiar with the problems of the usual some the runner up is the french finance minister christine legarde and while europeans hail her as one of the strongest economists in the euro zone some remain skeptical about her progress and christine will grow to become the next out of the. short run. more of the same as long as they can sustain it's all of us you know. maybe. even leaving europe so they may not be able to maintain these policies but the trend is for them to continue to try greece's debt is what i mean unfortunately are too far ahead and soon to find something a very similar issue each. person asking why must it be even now and what happened to promise a fresh face is something that was sinking up here. i think where if christine does get the job i think it will be a bit. of the i.m.f. . if you remember dominic straus only a few months ago had said. that there should be a change in the global order specially since india and china over the last three or four years have been the world's largest economies and it's india and china. that have really the world out of the economic slump

over this condo and his own six million dollars bail awaiting trial french finance minister christine legarde has emerged as the frontrunner for his job but as daniel bushell reports trials towns contracts with easy leaders were key to helping save the ailing you are so. no mistrust because no euro that's what playing because a whispering of the police charged. with course with the attempted rape of a hotel maid very differently the possibility that some countries could decide to leave the euro pushed out of the euro and there where you got to understand that don't. believe that the euro could and should be saved in the face of north steel resistance from richer states stross called live this week out of portugal germany and france insist on oil and raises its low corporation tax d s k as he's known was the man is saving euro she called to me i think these allegations are going to. the i.m.f. as an institution. is there going to be honest. truth call even persuaded greece's leader to stick with strict spending cuts despite royals on the streets but he has a good card to some of you had govern

said that although christine legarde is likely to lead the world's top bankers job it's only a matter of time before the tradition of a european heading the i.m.f. is broken. is very nice a message that the developed countries in the european countries would like to maintain the steeples one which is not necessarily for here and i think it changes you may move for fear of a lady. but probably do not go far enough. and there you can catch the full interview with the i.m.f. candidate critically marchenko in a few days from now here on t. so i'll be in court has ruled before but bosnian serb army general recommend that it is fit to stand trial in the hague his family had claimed he wasn't healthy enough to be extradited and the defense will appeal the decision to rest him about it on thursday was a key condition for serbia's e.u. entry and some are suggesting he was finally given up in exchange for membership covering those are of reports now from belgrade. all of the local newspapers have got his picture on his front page that's him after he was arrested of course that's him in his olde

was there by prime minister benjamin who said he spoke hardly of the french finance minister christine legarde whose candidacy is balanced by all e.u. members but putin also gave his support to the head of cuz it sounds national but gordon marketing in an exclusive interview with r.t. must change that said it's only a matter of time before you're not clear of the true cons to read minds. it is very much a message that developed countries in the european countries would like to maintain . which is not necessary for. things the changes for already started but probably will not go far enough. some of the world's stories making headlines this hour now and two women and twelve children have been killed in afghanistan as well as whole helmand province by nato troops there's halakha it was supposed to be insurgents but instead civilian homes were fired on nato says it was in retaliation for an attack on a u.s. marine base in the region on saturday afghan president hamid karzai has criticized coalition forces for not doing enough to prevent civilian deaths. eva two hundred suspected al qaeda gunmen ha

is one of the strongest economists in the euro zone some remain skeptical about her progress christine legardecomes the next. i think the short run i want. more of the same as long as they can sustain it it's not obvious you know greece may be a. default. perhaps even leaving europe so they may not be able to maintain these policies but the trend is for them to continue to try greece's debt just want to see what you've got are too far ahead and sick to find themselves in a very similar situation. person asking why must there be anything else and what happened to promises of fresh faces some at first seem to help their families i think that if christine does get the job i think it will be a betrayal of the i.m.f. . if you remember germany extra only a few months ago had said that there should be a change in the global order specially since india and china over the last three or four years have been the world's largest economies and it's india and china that have. really the world out of the economic slump that it has been in the last few years one of the world's most powerful organisations the

to become the next head of the international monetary fund only comes resignation oversexed christine legarde is reported to have the backing of all the e.u. states and the u.s. so that the fastest growing economies known as the brics countries issued a joint statement calling for a selection process based on competency and not nationality. while the israeli palestine stalemate is only strengthened after benny binion hardy's visit to the u.s. another battle is raging online both sides claim one of the world's most popular websites because media is revising the history of the conflict and saudis policy reports this fight is far from equal. the israeli palestinian conflict has reached an unlikely new field of battle where there are no borders and no generals calling the shots there is an all thefts. fact checking or a committee or something like that there is no chief editor or anything like that which is why we keep pedia an online encyclopedia as one of the world's most popular websites with sixteen million entries open for anyone to edit rewrite or even raise the most popular of those pages

resigned over the scandal and as all six million dollar bail awaiting trial french finance minister christine legarde has emerged as the frontrunner for his job but as his daniel bushell reports the trial counsel contracts contacts with leaders who are key to helping save the ailing so far. no stroll score no euro that's what bankers a whispering off the police charge the now ex i.m.f. course with the attempted rape of a hotel maid very differently the possibility that some countries could decide to leave the euro pushed out of the euro and there were you got to understand that. belief that the euro could and should be saved in the face of norse the resistance from richest states stross kong live this week's bailout of crippled portugal germany and france insist on oil and raises its low corporation tax t.s.k. as he's known as the man arguing it's what is saving the irish economy thing these allegations are going to be. of the i.m.f. as an institution. is definitely going to be missed i think. strobes call on even persuaded greece's leader to stick with strict spending cuts despite roy it's on the st

fair chance in was echoed by understanding that he spoke highly of the french finance minister christine legarde ten of the sea is bad or even members of the second for support to the head of as it stands for national. action for an exclusive interview you know. that god is a favorite son a matter of time before us and not play on the job means. he stated sure. it is very much a message of the developed countries and the european countries would like to maintain the status quo which is not necessarily for here and i think the changes you name have for have already started probably do not go far enough. well there are more today's international stories we're covering for you the south nato air strike in afghanistan all that are held on the province has left at least fourteen people dead we're told it was insurgents that instead two civilian homes were struck and cause an insurgent attack on the u.s. marine base in the region on saturday elsewhere a taliban suicide bombing in the northwest killed a senior police chief and five others including nato troops he's commander was on the leaders of the m

said that although christine legarde is likely to land the world's top banker job so any amount of time before the tradition of a european head of the i.m.f. is broken. the developed countries and the european countries would like to maintain the status quo which is not necessarily for here and i think that change is. already started but probably do not go far enough. here with our to your life here in the russian capital twenty four hours a day still to come for you this hour. making up the u.s. secretary of state says strained relations with pakistan are the turning point a month after the killing of osama bin laden we'll have live expert opinion on the trap and really he's here on our team for you in just a few minutes. past what it's like to work on the plan it's called this continent our team continues expects peroration of antarctica they will meet the russian research is living life in the freezer. but first a serbian court has ruled the former bosnian serb army general that common knowledge is fit to stand trial in the hague and family had claimed he wasn't healthy enough to be

problematic in terms of how they would run the fund as you would think of most of europeans prickly christine legarde so if you're talking about a candidate who is educated if university of chicago with a ph d. in in orthodox macroeconomics which as we've seen from the last five years based on theories which are completely flawed then we don't want that kind of person running an i.m.f. which needs to update its thinking to update its policies into the twenty first century and if you look at all the work that's been done across many countries looking at the development process you can see that there are many development trajectories in many development tracks which can use multiple policies and you talk about things like capital controls financial repression industrial policy all right gentlemen i'm going to jump in here daniel and i do. well you earlier we heard not only is it not a democratic and this has been debated on this program but what about its entire approach i mean the i.m.f. originated as something very different than what it's trying to do now i mean is it keeping up with the times and h

said that although christine legarde is likely to land the world's top banker job it's only a matter of time before the addition of a european at the i.m.f. is. the speech that her campaign says very nice a message that the developed countries and the european countries would like to maintain the status quo which is not necessarily fair and i think that change is. already started probably do not go far enough. and by the way you can catch the full interview with the i.m.f. candidate. in just a few days from now here on alt. now georgia's opposition claims that we can also has read his government is under playing how many people were hurt in a violent crackdown on protests on thursday thousands remain in hospital and many including some top opposition figures are missing want to give us first hand details of what's been happening in the c.r.t. sort of joins me now in the studio know it she's been covering events in the georgian capital so you were just back from tbilisi you've just come from the airport to the studio now and you of course were caught up in the violence or story report

insider described in the guardian talking about the can receive christine legarde of the total bank protection plan total big. player and that's been the policy so far we've seen the consequences of that increase about portugal and ireland and christine the growth comes the next. i think the short run what you expect. more of the same as long as they can sustain it it's not obvious you know greece. and the edge of. default and perhaps even leaving europe so they may not be able to maintain these policies but the trend is for them to continue to try and what do you think is behind this sort of unusual more aggressive than normal statement event that it's reflective of again sort of a new era do you think it will go back and sort of see this as their as a significant turning point where the world did sort of step away from this u.s. oriented european oriented world view or do you think that's a reflection of her just folks being fed up with the with the current policies at the bank well i think this book if you look at good grass a range of institutions the new shoes he seem a countries stepping

with the new parts of this was that there was a focus on christine legarde. she's the front-runner in europe in terms of the imf job. and pretty much all of the european nations have lined up behind her, including great britain and germany, holland, have all said she should be the european candidate. the question you raised, though, is whether there's going to be another european candidate. the europeans have had the imf directorship for ten years. for ten directorships and four out of those ten directorships have been french directorships. so whether or not they'll turn to france once again for another director is an open question. zain? >> jim bitterman in paris. >>> you're watching "world one." live from london, facing the floods. >> it's really hand comprehend how much water is coming through here right now. >> we travel down the mighty mississippi after it reaches its highest level in decades. >>> and a fatal force of nature, a tornado cuts a swath across america's midwest. >>> this is "world one" live it london, our top stories -- a firefight is raging