miners angry costs the government is attempting to save sixty five billion euros in return for an e.u. bank bailout. and that economics laureate edward proscar explains why the banks are getting more and more irresponsible and the single currencies days are numbered. nobel economics laureate. america will have a joint collapse much bigger than in two thousand and eight mr prescott let's start with. the water if you have. four children and give more credit cards. but tell me that they have to behave responsibly and one of them does. what. it's. going to be problems and that you have to sort of cut out that it's analogous to the subprime mortgages which made it was not beneficial to either side but the government wanted to foster home ownership pretty much set up a bad system the problem is that the germans and the french lent to somebody they should have one too. and somebody who should be borrowing them was not as should not of the borrowing should have been people monitoring the market we should let the corporation in the usa have some big ones and they've got many of bankrupt and . people

closer to creating a new body to monitor its major banks to europe's finance ministers a meeting late on monday that you are now and all the details the e.u. leaders came up with the idea when they met in brussels in june the new regulator which many see as the first step to a banking union report to the european central bank and it will most likely supervise the top twenty five financial institutions. now moving on to crude prices they are showing some strain on monday despite a living in supply concerns easing three ports their resumed crude exports that stopped because of protests but in norway the energy sector strike is still on after talks failed on sunday the strike means norway's output slumped by two hundred fifty thousand barrels a day to the pressure that's the latest from the business desk now you're all up to date so i'll be back in about fifteen minutes meanwhile while the on shore side are to dot com slash business our own times thanks very much indeed for a looking at the business barometers there and of course we'll see you next hour with more in the meantime i'll bring you the headlines here in. one needs of spare time t

dot com we're asking who will gain the most from the e.u. bank bailout deal agreed in brussels this week let's bring up the numbers and see how you're voting for this hour so far most of you think it's the reckless bankers and investors will be smiling the broadest almost a fifth if you believe this is a power hungry brussels which will benefit the most down to nine percent now saying it's countries with strong economies and just the bad minority thinking the deal would help states with. still plenty of time actually if you get involved with the dot com we welcome you to have your. it's a good to have you with us here on r.t. today the deadline for julian assange extradition to sweden passed earlier on this week but the whistleblower is still holed up in ecuador's embassy in london he defied a pretty police demand to turn himself in saying he won't step out of the embassy building until a decision on his asylum request has been made i could also present the latest statement made it clear there is no. no deadline and reiterated that the verdict wi

greece demonstrations reflecting public anger at the cuts being imposed on them in order to win an e.u. bank rescue this comes as athens has a portaloo agreed on almost all of the austerity demanded so far in order to secure its own financial lifeline although pensions and wages are now being targeted to find the final one and a half billion euros of savings financial advisor. believes helping banks instead of the people is ruining the prospects for recovery. the situation is deteriorating they have this massive property bubble which is biased. massive amount of austerity measures and the whole economy has imploded and you've got very very high levels of unemployment and people will take their anger out on the street. yes because the more that there is civil unrest the more that detracts from external investment more but. that means that companies hold back making investment decisions and decisions about the future. is it unfair that the banks are being assisted when the business is not yes it is. even many ways the problem that we have in terms of implementing. our only colonies and impleme

israel joins us now from the business desk a criminal investigation that opens into a failed e.u. bank and a top attention as suspect. the head is now being investigated for fraud misappropriation of funds and for sophistication at spain's banking where he was chairman till it went bust in may the judge is looking into claims he most of node of bank years miss when it launched a flashy i.p.o. last year traders of last three quarters of their investment off to lend the river twenty eleven earnings from a three hundred million euro profit to a four billion euros loss kastrup slow for us is rejected the terms of an e.u. bailout and has turned to russia for money the country's president told the european parliament that russia's loans of cheaper and have less strings attached so brazil is reportedly seeking around ten billion euros vicious spending cuts forced by e.u. bailouts have caused violent protests in greece spain portugal and italy. markets now completed its takeover of porsche drive involved in shares of five percent moody's warns it could downgrade barclays bank for its reach rig

germany time now for you to get involved and vote on our website or who will gain the most from the e.u. bank bailout deal agreed in brussels this week here are the numbers for this hour so far most of you think it's the reckless bankers and investors will be smiling broadest out of fear believing it's power hungry brussels which will benefit down to nine percent now saying it's countries with strong economies just a tiny minority think you the deal will help states the budding autonomy's put off the dot com how do you say. the deadline for julian assange extradition to sweden pasta earlier this week but he still holed up at ecuador's embassy in london he defied a british police to monotone himself in saying he won't step out of the embassy until it is on his asylum request is made ecuador as president in his latest statement made it clear there is no deadline and reiterated that the verdict will be absolutely suffering the wiki leaks editor insists that if these extradited to sweden he'll be handed over to america where he could face the death penalty penalty if convicted of espionage the u.

prime minister announced new cars had a tax hikes to save sixty five billion euros in return for an e.u. bank bailout and sociologist carlos declaw says the government is losing its edge at a messy. if you had any sense of decency or even a fragment of the dignity that miners and the protestors the indignados have that he would resign with the rest of his government he's broken every campaign promise that he's made some even a comical levels you know his entire party was saying that raising the sales tax was you know one thinkable and all that and now we have a twenty one percent sales tax i think what we're seeing is really the impunity of a government that has a lot of people that pertain to you know. that had affinity with franco this government the fascist government forty years ago and have never had it before trial since then so i guess there's a culture of impunity amongst these people the tendency is to think maybe that. protesters have become desensitized to all of the police violence because we've been dealing with it for a year but we saw pictures of you know images of an eleven ye

dot com we're asking who will gain the most from the e.u. bank bailout deal agreed in brussels but we so far most of you think it's the brac was bankers and investors will be smiling broadly almost as if believes its power hungry brussels which will benefit the most paper sand say its congress was drawn on a tiny minority thanks to you will help states with flagging economies what's your take on that blog on tortilla dot com and let us know. the deadline for joining us on his extradition to sweden passed earlier on this week but the whistleblower is still holed up at doors embassy in london he defied a british police demand to term self in saying he won't step out of the embassy building until a decision on his asylum request is made ecuador's president in his latest statement made it clear there is no deadline and reiterated that the verdict will be absolutely saw for respecting human rights the main issue being considered by the south american state as a potential threat to join us on his life. so we get leaks at a terror insists that if he's e

ever more frequent with people angered at the government for imposing austerity in return for an e.u. bank rescue or. well meanwhile britain's economic output has also collapsed leaving the country in its worst recession since the second world war later on our financial expert mexico. says politicians and bankers are cordoning the money more . britons. downdraft in their economy simultaneously that both barclays h.s.b.c. to the biggest banks in the world in britain announced that they are involved in massive drug money laundering schemes and library manipulations games are those two connected yes of course they stole all of britain's money and they forced the government to take that austerity and put it on to the british people to pay off the bondholders and the executives at these corrupt banks with the help of tony blair who's a jerry sandusky of banking internationally and the economy in the u.k. is announcing huge downdraft at the same time barclays just b.c. two biggest bank in the world both in britain they announced massive money laundering for mexican drug cartels and library manip

public anger at the government from posing austerity in return for an e.u. bank rescue financial adviser marco pietro pauli says helping banks instead of the people is ruining the prospects for recovery the situation is deteriorating they have this massive property bubble which is biased. massive amount of austerity measures and the whole economy has imploded and you've got very very high levels of unemployment and people will take their anger out on the street is even a problem yes because the more that there is civil unrest the more that detracts from external investment more but. that means that companies hold by making investment decisions and decisions about the future. is it unfair that the banks are mean assisted when the business is not yes it is. even many ways the problem that we have in terms of implementing reform are only economies and implementing austerity is that seems to me i mean equal balance in the economy where banks have been helped massively but the rest of the economy. hasn't to some extent as things stand the market has already priced in.

parliament gave the green light to the one hundred billion euro bailout for the country's battered banks the e.u.'s finance ministers have approved the conditions for the financial lifeline to madrid which call for the strict monitoring of the banks that received a call most close a sociologist at pumping fiber a university believes the situation in spain is only going to go from bad to us. what we're seeing is a massive transfer of public private debt into public debt and that's that's where it really begins to harm the actual citizens of spain it's this sort of this these plans. are not even being done on a large enough scale to really have any effect any positive effect for working people in spain when you take their food you take all that they have homes and they respond quite viscerally i mean yesterday you know we saw in madrid for instance wasn't you know violent an artists and a group that decided to burn a bunch of dumpsters what we saw were police charging against other police protesting police we saw them charging against firemen and women we saw them charging against public sector wo

e.u. strategy of bailing out banks at the people's expense all only fuel public anger. that we talk with a former national security agency executive in the u.s. who sacrificed his career to blow the whistle on wrongdoing inside the n.s.a. . my guest today is thomas andrews drake he was a senior executive of america's biggest intelligence agency at the beginning of the two thousands he was an expert on elec tronic eavesdropping someone with a top secret security clearance then mr drake essentially secor feist his career to blow the whistle on his agency's wrongdoings as he saw them he was charged under the espionage act but only last year the charges were dropped this drake thank you very much for coming thanks for having me tell me about the program that you challenge to working with the national security agency the surveillance program what was its potential harm as you saw it there was the very large flagship program called trailblazer that was designed to catapult n.s.a. into the twenty first century to deal with the vast amounts of data being generated from the digi

e.u. bailout colby ruled out of the fitch want to house one of the weakest banking markets in central and eastern europe and the country's finance minister i did a bailout will only be needed if the lenders problems get bigger. the persians from brown's traditionally strong markets from spain and italy are in profound crisis says europe's number to call make a p.s.a. after announcing sales in the first half swung into the red after a bright start euro contagion of all the losses on thursday as well please confirm to us that it will bid for half of the piece stake in its russian or within the next two weeks its shares all soaring on the news and the euro's retreating to the dollar over that worrying euro zone data is near three year lows two major currencies and they're. wrong to have exposed her country to those risks hundred seventy two economists have written an open letter to the chancellor saying she's open germany up to huge hits in the e.u. states by agreeing a banking union mrs merkel dismissed those fears she says the union is first of all about better playing king supervision and

e.u. bailout call be ruled out after fitch wants to renia has one of the weakest banking markets in central and eastern europe but the country's finance minister i did a bailout will only be needed if the lenders problems get bigger. and calls quote wrong to have exposed her country to those risks one hundred seventy two economists have written in an open letter to the chancellor saying she's exposed germany to huge all of the e.u. states why agreeing a banking union mrs merkel dismissed the economist fears she said the union is first of all about better banking supervision and that is urgently necessary and dropped today we'll have more for you next all right thanks for that update danielle. here lavelle's cross-talk is coming up in a few minutes that's after a minder that's right has made headlines with me. culture is that so much observant and there's a huge music history on the mark when it's the arab spring finally coming to sudan as the protest movement grows the regime of al bashir appears to have limited options with the control. of. the be. more news today violence is once again fl

e.u. states agreeing a banking union mrs merkel dismissed the economist fears she said the union is first of all about better banking supervision that is urgently necessary europe has open law on the use comic of persia is readying a new round of cuts of the first deliveries good china is unexpectedly cutting interest rates for a second time in quick succession cheaper boring chinese banks who shares are pulling the nikkei closed down the euro is also slipping to the dollar on the news from europe it's now near three year lows against major currencies crude is a dollar down or reports saudi arabia is raising production to make up for sanctions on iran has swung into the red after a bright start this morning you're a contagion has brought losses on thursday as well oh major titan there says first off group. profits but rivals says first off it has climbed seven percent and china's downturn. worse than expected was probably a way. that may not hit this year's ten percent growth target despite yesterday's rates cuts beijing blames falling forward to more and for its products up to date news

e.u. bailout can't be ruled out of which one has one of the weakest banking markets in central and eastern europe the country's finance minister added the bailout will only be needed if their lenders problems get bigger. and one hundred seventy two economists have written an open letter to anglo merkel saying that the chance of those opening germany up to huge unknown debts in other e.u. states where agreeing a banking union this is merkel dismissed economists fears she says that the union is first of all about that's a banking supervision that is urgent. as well as for you this hour all right thanks to meet you will see you back same place same time next hour next in india who are concerned the world's most infamous prison that are the headlines and this short break. culture is that so much given to each musician a minute ride from the marquesas the arab spring finally coming to sudan as the protest movement grows the regime of al bashir appears to have limited options with the control. more news today violence is once again flared up. these are the images the world has been seeing from t

e.u. bailout called the rule of the fitch warned it has one of the weakest banking markets in central and eastern europe but the country's finance minister i did a bailout will only be needed if their lenders problems get bigger. and i quote wrong to have exposed her country to those risks one hundred seventy two economists have written an open letter to the chancellor saying she's open to germany up to huge on all the e.u. states by agreeing a banking union mrs merkel dismissed the economists fears she said the union is first of all about the banking supervision and that is urgently necessary up to date all the news and interviews are on the website all right thanks for that danielle. coming up next an hour to hear the news headlines after this short break . there hasn't been anything good on t.v. . it is to get the maximum political impact. before the source material is what helps keep journalism on us we. we want to present. something else. you know his secret laboratory was able to build on those most sophisticated robots which fortunately doesn't give a darn about anything tim's miss

e.u. states by agreeing a banking union says merkel dismissed the economist fears she said the union is quote first of all about better banking supervision and that is urgently necessary . so that's the way the markets look this out not very optimistic all right thanks for that update. on the way our special report on the great multicultural experiment from the heart of europe and what is so far that's after the headlines here on our team. has the idea of multicultural society we were. sharing the motherland. olivia golden goal post. move. her mother. could speak. told her her. announcing her. bomb explosion good luck with her moves my mom and. dad come out fine i'm a little. too flat. full in full started here. for going global and now it's killing the fire. log in. to the right. choose your place. take your stand. the movement. makes your statement. split the works place you find the stream flowing the for. limitation and free credit take should free transport charges free. range and free risk free studio time free. download free now. largo's i'm all in video for your media projects and fre

e.u. bailout can't be ruled out of the fitch want to has one of the weakest banking markets in central and eastern europe at the country's finance minister added that a bailout will only be the needed if their lenders problems get bigger. also hundred seventy two economists have written an open letter to germany's chancellor angela merkel saying she's open germany up to through each other known debts and of the e.u. states by agreeing a banking union this is merkel dismissed economists fears she said the union is quote first of all about better banking supervision and this is urgently necessary so all that combined with problems stateside is course creating a pretty worrying situation there you know ok thanks for that with a little later on tonight more money news as well on the way from capital account from washington our studios there very shortly after the headlines which should exit after this quick break. well true science technology innovation all the moves developments around russia we've got the future covered. in. oil industry claims the process is perfectly sweet. six quests that

the eurozone is ready to poor thirty billion a year rose into spain's beleaguered banks by the end of this month the e.u.'s finance ministers are also expected to grant madrid one more year to cut its budget deficit meanwhile the leaders of britain and france are set for talks at downing street to hammer out a joint strategy to battle the crisis especially worrying is the well of cash running dry one german court is set to rule whether the euro zone's new bailout fund is violating the country's constitution the unequal rules inside the currency union it may prove to be its downfall as a boy reports. not taking from others and not giving your own that's what made this company grow from a small soap shop a century ago into a multi-million euro business nowadays to him iranian company is of course different from running a country or a union of countries but all require fiscal discipline. before we do anything there should be unified fiscal and economic policy it is not acceptable that spain subsidizes things that are not subsidized in germany and it does it in our common experience trading all across europ

e.u. strategy bailing out banks at the people's expense along the field probably. as the headlines now ignore exciting stuff is ahead as actors here for the sport. hello there thanks for joining me and let's start with the headlines king of the ring danny garcia stops in a column in the fourth round to claim boxing is w.b. a super lightweight crown. while a russian cape bolts have done him a mere grabs another world heavyweight title in front of home fans. on the jet set much a week after when we didn't try i'm sure you know williams storms through to another final this time a california. style that with boxing because american danny garcia has beaten britain's amir khan to claim the w.b. a super lightweight crime garcia was the underdog in last vegas. but he sank on to the canvas to the left talk in the third round and although can be can't he was forward again in the next ran twice in succession before the referee ended the bank means garcia takes can still be a title and keep hold of his own w.b.c. crime is unbeaten record stretching to twenty four wins fifteen

e.u. strategy of bailing out banks at the people's expense will only fuel public anger plus. it's almost a list of all right now. we see the latest screw now on route to the international space station where they'll spend the next four months. hello and thank you for joining of the weekly with me karen tara chief for your week's top stories well russia's southern resort region of course not bad is recovering after the worst floods in its history more than one hundred seventy people were killed in the deluge calls by torrential rain thousands of houses were also destroyed are trees down as well it's reports. it was annoyed of turf for the people of greensburg in almost an instant the small town was a good chile swept away by a torrent of rain and mud there which we pulled up to seven meters most of the buildings there willing to was lucky to survive in the sudden burning queue woke up with wife and son before rushing to help an elderly disabled me from the many dreams proves what arose immediately we tried to do something to save our belongings but the water was there. where i

e.u. strategy of bailing out banks at the people's expense of the fuel public anger. now our special report professional prisoners is up next. many of those who land behind bars are obliged to work by law in russian prison colonies criminals often receive an education sometimes specializing in a completely new profession for a few their talents manifest in ways they would never have realised in the days before the war prison clothing. come forward stand in line any question. it with she thinks the time in the army no going on when you might she does not understand what's going on yet. i don't want to tell her she will understand when she goes to. alexander eleven overtures baking an apple and peach pie for his six year old daughter and soon she and his wife will come to see him in a special visiting room alexander hasn't seen his daughter in five years and all the time he's been locked up in a prison for dangerous criminals. first we need the dough. then we cut the fruit to pieces which could have different shapes and colors so then we put the pie into the stove and b

e.u. strategy of bailing out banks at the people's expense will only fuel public anger. up next a dumpster dive in the back alleys of los angeles as supermarkets as we explore how much good and food is just thrown away. here's my letter to dan bain the c.e.o. of trader joe's have also included a copy of the good samaritan act which was signed into being in one thousand nine hundred six by bill clinton and that encourages grocery stores to donate food and it protects them from being sued so i'm just asking him to consider moving trader joe's into the next step of simply not wasting as much food and giving it to people who need it i figured the c.e.o. of trader joe's probably wouldn't get back to me after one letter so i've decided to send him. a letter a day for the next month a letter went out to t.j. c.e.o. dan bain every morning and we continue diving as normal time passed dumpsters swelled with food and then suddenly the landscape changed we began seeing more people at the dumpsters and not your typical diverse people that seem to need the food a lot more than we did.

e.u. strategy of bailing out banks at the people's expense will only fuel public anger. thank you for joining r t this sunday where we go now to our top story new details have emerged about the bloodshed near the syrian city of hama all which reportedly resulted in two hundred the u.n. findings suggest there had been fierce clashes between the have only armed syrian army and rebel fighters on thursday challenging opposition claims of a civilian massacre let's get all the details now from parties more of the motion in damascus so you want to observe there are still investigating tell us more about what they have already found. the u.n. observer true mission here in syria has visited the village of tromso in the syrian central province of hama hours off to the news of much to fault the alleged massacre there and they've confirmed that indeed fierce clashes between the rebels and the governmental forces took place on the ground but this concludes is that an attack apparently by the governmental forces appeared targeted at specific houses and specific groups especially amita

mixed territory following a major rally on friday that's on the news about the european bank savings plan the e.u. leaders agreed to to let their rescue fund inject cash into the troubled banks directly and they also agreed to create a single body that will receive all of the eurozone banking sector and essentially we're talking about the much anticipated european banking union and now on to the russian markets here what we're seeing is a pretty pictures you can see the my sex is really managing to put on one and a quarter percent of our the r.t.s. is seeing more modest losses but it's gaining almost one percent and now on to the biggest movers on the bisects and they include the financials that are rebounding from earlier losses including this bear bank which is now trading almost more than a quarter percent and still under pressure as a diamond producer all of that's despite the company's announcement that it doubled its profit and of course a bust nafta is also down and that's after the company reported that a little bit invest one hundred twenty million dollars into its first international pr

to save the country struggling banks crisis treaty just gone vallone it us says he expects more unrest to come. the people in power or the political leadership in the e.u. as well as the united states don't quite seem to understand what is going on and they don't quite seem to understand that they are to be dangerous the banks profits are obscene and i think that these governments are bailing them out continuously it's just simply unconscionable you know of course the people realize these have they are upset about it but of course the politicians do absolutely nothing to rein in the pot would be dangerous and instead what i thought we could lose to start could be very vocal about it fracking and not solving the problems that we have we have on the one hand and out of control financial sector which basically we've been probably to look at on the other hand you have necessarily to be generous social safety net that had been promised but simply to come out because it's the future expensive you know this is just a form of war and more social disadvantage that we're going to see throughout the e.u. . across the mediterranean and glorious that you had konami

e.u. strategy of bailing out banks at the people's expense will only fuel public anger up next and get a table for two among the trash in los angeles. every year in america we throw away ninety six billion pounds of food. two hundred sixty three million pounds a day. eleven million pounds an hour. three thousand pounds a second. you . have. to. shoot mom. mom nearly a billion people in the world are going hungry every day. in the united states even our trash cans are filled with food you just have to go get it. so there are three basic rules to dumpster dive rule number one never take more than you. unless you find it if your rule number two first ones to the temperature as first did. that you always gotta share and rule number three you leave it cleaner than you look when you. found it before you leave it cleaner and you found some right. it's an unusual night in l.a. because it's it's freezing outside freezing for l.a. so i think it's you know forty three to forty five degrees which is good because it keeps all the meat and stuff cold it's been dumped. there's. no antibiotics ever no added h

e.u. taxpayer money into failing banks that will all without governments having a say something that fiscally conservative germany had staunchly opposed but was forced to relent over that it is a spain and italy were especially happy proclaiming eight breakthrough this week also saw the ratification of europe's new bailout cash fall and deficit laws but european parliament member nigel faraj doubts merkel gave in to anything she didn't agree with. it is perfectly clear that the brussels machine does dance to the german tune and smaller countries are very frightened of going against really in the end what angela merkel says the focus always is on germany you know will merkel blink or not what germany is saying is that all the member states of the euro zone should abolish their democracies should abolish their independence surrender their birth rights and give it all to a super bureaucrat to push on to a full fiscal union to a full political union indeed to the union that will be absolutely dominated by germany and by some magic formula giving away control of everything to one person will solve