time not to go to athens greece to talk with dr. stop speculators are dr carol goes welcome to the kaiser report i don't how are you a very good doctor tells about your campaign stop speculators dive g.-r. scum. start their own april. this year. after we start. experiencing here in greece walk toward the result of a speculation on our government forcing the spread of our government bonds in very very very high figures and by the wars in parts. to continue the government lending program and this is why our government. or stretched to. the i.m.f. and you're being a young battle. this is it isn't that that we did and we started this auction. because that was not as simple as speculation process we didn't do that because we are against speculation because it's going on very well speculation is that it is on the markets exist. we did that because about wars aereo or primaries creaming out on. even then two minute late the whole critiquer quote i mean to manipulate a country through and when you've been a sort of over government bonds mar

time now to go to athens greece to talk with dr. bras stop speculators are dr gerakas welcome to the kaiser report i don't know how are you very good doctor tells about your campaign stop speculators dot g.r. this campaign started on april of two thousand then. i thought it would start. experiencing here in greece what the war there is all of a speculation on our government forms forcing the spread of government bonds in very very very high figures and bob was impossible for british to go into you know of a government lending program and this is why our government. war stretched you'll all of it aim of the i.m.f. and european union bail. this is it isn't that that we did and we started this auction. because that was not as simple as speculation professed we didn't believe because we are against speculation because it is going on very well speculation is that it is on the markets exist. we did that because about wars aereo organized creaming out on. even then two minute wait before critiquer caught on me to my nipple aid the country

claiming that greece is going into bankruptcy every day the good bankruptcy wars the first. the first new album the international knows a lot on the war. in this game because they found. things up or wrong in. what happened in greece don't think about is different from what the scope and include the other thing you know that's mean. surprises. with saving grace today and the deficit crisis our economy is not something about the god it's only greece this is a global problem and this all european countries all your own european economies have the same problem. is that they start doing this game here. is very small and it was very easy to manipulate this market and after they manipulated this market they used greece like experiment they could take the formula to manipulate their arrest of the european markets and now you see that. they start making the same game in ireland. with different factions because irish program is different but the big program at the same time when you play the big market now in the same way the same the same issues the same banks their money predating

experiencing here in greece was of course the result of this because later on our government. spreads our government in very very very high figures and that was impossible for greece to continue with a government lending program and this is why our government. or stretched to. the i.m.f. and they are being a young battle. this is it isn't that the way and we start this auction. because that is not as simple a speculation process we didn't do because we are against speculation that is going on very well speculation is that is on the markets exist. we did that because about wars aereo or primaries creaming out on. even then two minute wait before critique or quote i mean to manipulate a country through and when you've been a sort of over government bonds mark at the end of a government lending soul for all the series last week start this campaign one april two thousand then and before that moment. five it's probably charts what we started if you're still under investigation process in there the percent get there over the course of often ok so just to be clear the the bond trader

time now to go to athens greece to talk with dr. goes to bras oh stop speculators die g r dr goes welcome to the kaiser report i don't argue very good doctor tell us about your campaign stop speculators dot g r this campaign started on a period of two thousand this year. after we started. experiencing here in greece was the war the result of the speculation on our government. the spread our government in very very very high figures and thought that was impossible for greece to continue with a government lending program and this is why our government. or stretched tool fall role of the of the i.m.f. and europe being a young battle. this is it is all about the way and we started this auction. because the. simple speculation process we didn't build because we are against speculation or there is going to be very aware speculation is that it is on the markets exist. we did that because about wars aereo organized creaming out on. even then two minute before critiquer call me to my nipple aid the country through and when you place an over

is not something about the god it's only greece this is a global problem. all european countries all your own european economies have the same problem. is that they start doing this game here because there is very small and it was very easy to manipulate this market and the threat of a manipulation this market they used to greece like experiment they could take the formula. of the european markets and you see that. they start making the same game in ireland. with different factions because irish program is different but the big problem at the same time when you play the big market now in the same way the same the same issues the same banks their money that is market and they will do about it with. spain and then this is a game the game is global and it regards all of us this is not just a critic problem to the greek economy or to the critical collations of the greek citizens or to the good of. all the european taxpayers will pay the crisis because the crisis is not of the system is not of the economy is the crisis of the banks because they managed in a very

and greece was the one to watch. greece and france. now, here is greece. greece became the leader. and greece was the one that they said, if it's going to fall, it will pull everybody down. >> they saw potential domino. the economist refer to it. greece is not a huge component of the european community, but it starts it. they're concerned if that starts, then what happens to the other and the dominoes because many of them are insuring greece's safety. so if it starts to roll, it would start with greece. >> come here. greece is a state of the european union. >> it is. >> they're a capital s. it's a state. sovereign nation. so a state in the european union. tell me about greece. >> it makes up a small percentage? terms of its economy. when we talk about the european community or the european common, it's 2.5% of the overall economy, gdp. >> it's actually the ez. right? >> europe zone. correct. >> the e.u., it's -- >> it's less, 1.8. because it's a -- these are 26 states. -- 27 states. these are 16 states. >> got it? it's 2.5% of the economy. >> not a huge part of it. it's what i want

aren't exhausted that isn't the end of the problem because what you've now got are countries like greece potentially portugal who are trapped inside an economic prison that is called the euro for which they are not suited and believe you me the bailout that arlen saw last week is not the end of the matter i suspect that things that are economically will be very much worse in two years' time than they are now ok but in fairness the european commission president said on sunday that the eurozone isn't to blame for greece and ireland problems in that welling's would've been much worse without the euro isn't there some truth in that. there is not a single piece of evidence for those claims by barroso or van ryn point whatsoever listen when arlen joined the euro there were people like me saying there was no benefit for the country as most of their overseas trade was denominated in sterling or dollars anyway and that to join the euro they would have to have artificially low interest rates and for the first seven or eight years of their membership of the euro irish rates were three to four perce

greece was the original point at which they would cross. this report is from 26 officers from all of the european states. >> on patrol with the european union national force. their mission on greece's border with turkey is to stop illegal immigrants. it is not just manpower but technology like this camera taking thermal images across the border which has been crucial. recent footage of migrants caught trying to cross the border is a sign of success but also that greece cannot deal with this on their own. >> the operations will not be the solutions for this problem. there are many things to be done from the greek side, from the east side. we're going to do our utmost to help the greek authorities tackle this problem. >> it is this stretch of land which causes the greatest difficulty for the greek authorities. this is on the farthest edge of the european union. in the distance, i can just make out a mosque in the nearest turkish town of edirne. this is the front line of stemming the flow of illegal immigration. many migrants attempt to cross

be forced exclosure of how greece is swaps deficit so according to this suit bloomberg is alleging that the dose should be disclosed to stop governments from employing the derivatives in a similar way again and to show how e.u. authorities acted on information they had on swaps e.c.v. president john clutch leash a withheld the documents after the e.u. and international monetary fund led a one hundred ten billion euro bailout for greece the dossier should be disclosed to stop governments from employing the derivatives and a similar way again and show how e.u. authorities acted on the information they had on the swaps according to the suit all the facts and to be interesting to see whether or not there is any sort of information directly related to goldman sachs and john paulson who did meet in athens as we reported here on the kaiser report prior to this bailout of these swaps positions yeah well goldman doesn't i think just say it was part and parcel of what they're consulting of blah blah blah blah you know because there's no rule of law on wall street there's no concept that they alwa

offshore somewhere to pay for your smack bill and so finally max we're moving on to we mentioned greece and ireland if mentioned that many times in the last year. and there are you're seeing emerge a theme that we've often talked about and that is that things are actually a lot worse than what officialdom says that you're going to see a trickle a constant trickle of more and more bad news and we see that his final few headlines first bloomberg e.c. be forced exclude sure of how greece's swaps deficit so according to the suit bloomberg is alleging that the dose should be disclosed to stop governments from employing the derivatives in a similar way again and to show how e.u. authorities acted on information they had on swaps e.c.v. president john clutch leash a withheld the documents after the e.u. and international monetary fund led a one hundred ten billion euro bailout for greece the dossier should be disclosed to stop governments from employing the derivatives and a similar way again and show how e.u. authorities acted on the information they had on the swaps according to the suit all

which was in the headlines the greece national debt as a percentage of g.n.p. was one hundred and fifteen percent when it has implemented the austerity measures the debt will think race to one hundred and fifty percent in short the situation is out of control and the proposed measures are making it worse and as a result there's going to be a crack crash of the euro john what do you think about that i mean there's thing is that everything they've tried to do in rodney is absolutely right get out of dad you go into dad to define prosperity you go into further in further dad which it seems to me the only people that benefited out of all of this so far are the banks ok they're doing quite well through the whole thing i mean even when there is a run on a country the banks really come out very very well i mean they have not proposed any solid solutions to get out of this mess and there's a lot of criticism for the for the euro you for the euro zone itself you know you can't do a country by country you've got two weeks the whole thing is not going to work. but the bot

greece, italy, ireland. you say greece, italy, ireland, spain, gives acronym. p.i.g.s.tors are hesitant to invest for three big reasons. remarkably big and complicate theed bureaucracy. complicated loss. lack of transparency in government. people' use the word transparency. his exlency, state minister of greece joins me from new york. minister, thank you for being with us. we were hoping in may. greece was a warning to the world, and to europe, that european countries have got to fix some of those problems we just talked about. and now, sadly, we're finding for different reason, we are seeing problems in ireland. we're now hearing that portugal may get into trouble. what can we learn from what happened to greece in may, and hope that we can stop this c contageous across europe. >> thank you very much. ali. it's a pleasure to be here. greece, as know, already faced the crisis, was the first bottom feeder. so, we have, in fact, took unprecedented measures, reducing our deficit, our deficit by six points, which is unprecedented. and now, we are pursuing what we have tackle

police in greece and fired tear gas at protesters in athens as protests erupted in demonstrations over the government's austerity measures. workers are holding a nationwide strike against reforms approved by parliament this morning. these were condition for greece to receive a massive bailout from the eu. >> protest in athens escalated into violence soon after they began. demonstrators set fire to a crash can and a car outside of a luxury hotel. -- to a trash can and a car. they were shouting dc -- the es. most people protested peacefully. starting on the first of january, employers will no longer be bound by wage agreements negotiated earlier with unions. severance pay will be cut by half. >> we have to stop this law from coming into force because this will destroy our children's future. this is a disgrace. the workers have a responsibility and duty treact to this and organize resistance to these policies and fight back against the politicians. >> the general strike began early wednesday. ferry's reined at anchor in the port. in athens, the trash has not been collected in days. the ac

since may, they have bought 72 billion euros from greece, ireland and portugal. it is the first time in its 12 your lifetime, the ecb decided to increase its capital base, indicating the severity of the situation. >> spain's treasury sold 2.4 billion euros of 10 and 15 year government bonds in the last scheduled auction of the year. the spanish treasury says the sale was a success and demonstrated its ability to obtain fresh capital on the open market. madrid sis being forced to pay ever higher prices for its borrowing. the average yield rose to 5.4%. for the 15 year bonds, the average yield rose more than a full percentage point. to the markets. german shares finished with modest gains on thursday. some better than expected economic data of the united states. r correspondent sentence a summary of the thursday trading session. >> the rkets seem to be hypnotized by the eu's summit in brussels. the dax was flatline and closed in positive territory, mainly driven by economic data from the u.s. spanish construction company acs got new shares. this is an offer made by

category and this was after they excepted i am after you bail out i'm like greece which was supposedly a profit spender and responsible for its own. dire straits ireland was the poster child for i stared he for doing everything the bankers asked them to do they slash services raise taxes generally squeeze the people to bail out the banks and it didn't work because there's a fundamental flaw in the euro system the euro system is a fixed money system it's a zero sum game there's no one that can create more money in order to allow the growth and profits that are necessary in order. to generate more taxes so that governments can bail themselves out of debt so they're all in debt and there's nobody that they can borrow from except each other so they're all going down together so now we'll hear a solution going forward would be i guess first of all from. ireland and these other countries to simply default on the debt now because they're never going to pay this debt and they're never going to create enough phony ponzi scheme money to . alleviate the austerity measures so it's just a fault rig

countries facing hardship continuing to expand italy may soon join the growing public debt or as greece and ireland get billions of euros in bailout. and the organization for security and cooperation in europe means for the first time in a decade russia wants to reboot relations with the group but says it must modernize at the summit in kazakhstan president medvedev pushed his initiative for a pen european security treaty. next max kaiser and co stacy herbert take a look at all the financial scandals behind the headlines and the kaiser report stay with us. of ice guys are and this is the kaiser report number one hundred that's right one hundred pure blissful episodes of markets finance and scandal and stacey you're never going back to the studio how are you ok max keiser i have a headline for you crowds mob kaiser report star banky for autographed silver coins so if you recall did see this man in one of our crass j.p. morgan buy sell her videos and let's just take a look at it will turn out the crash j.p. morgan by sure autograph signing today thanks to mexico my oldest work motions to.

against the need to bow out failing economies italy among the next up risk following the fates of greece and ireland. but president medvedev calls on the leading players and european security to push aside the stereotypes of the past and work together for the sake of future stability. and in business foster's latest bending acquisition will make you earth even a roof the largest energy company in russia or in twenty minutes. from our headquarters in central moscow this is r t with me and he said now it's four pm here in the russian capital two pm in brussels and another eurozone country another threat of an imminent bailout italy is the third largest economy that uses the euro and there are fears it may start plunging in the same direction as greece and ireland with the euro failing the amount of money it costs rome to lend to debt ridden countries is rising dramatically spain portugal and belgium are also at risk of being pulled into the crisis doubts about the future of the single currency and the u. itself has been intensified by fresh protests sweeping across europe people are angry

greece's economic crisis leads to a crisis in the street.ally colorful vegetables are often a good source of vitamins, fiber, or minerals. and who brings you more natural colors than campbell's condensed soups? campbell's.® it's amazing what soup can do.™ >> bret: additional border patrol agents are being brought in the search for suspects in the death of an agent tuesday night. union representative says 40-year-old brian perry was trying to catch bandits who target illegal immigrants for robbery when he was fatally shot. it happened north of the arizona-mexico border. four suspects are now in custody, but we're just hearing in the last few minutes agents at this hour or involved in a chase, going after three other men. believed to be involved. we'll keep you updated. south koreans staged the largest evacuation drill since training began 45 years ago. sirens blared as they headed for shelter. last month, artillery from the north killed four people on south korean island. the violence in greece today was very real. in massive protests over th

of your own countries continue to feel the effects of the good book created crime greece's debt crisis was the start of the demeanor with fact in the you resume i learned his recently become the second e.u. country to be bailed out by the e.c.b. and the international monetary fund to receive the eighty five billion here a bailout the irish government had to resort to severe austerity plans include incur tale in the minimum wage and cutting public service jobs the plans led to mass protests with thousands of people taking to the streets of dublin and there are fears that italy the third largest to resume an economy. stop trying in the same direction as greece and ireland rome has to service billions of debt in the first quarter of next year with bond rate already raising the cost of it down and is likely to believe another country is threatened by this sovereign different demeanor fact i stated portugal and belgium with so many countries are being pulled into the graces doubts about the future of the single currency and of even the south have grown. in a told worth i'm not mistaken pres

greece, ireland. some have it.'s not right to say it looks contradictory to fix the fiscal problem at the same time we absolutely need to support growth. the answer depends on the country. it's very diverse, that's part of the problem which could be part of the solution. >> charlie: in greece you've got people in the streets, is it politically liable to have the kind of austerity that is demanded of those governments? >> well, i think a few things. first, the greek government is very bold. and take action as it has to be done. of course people don't like it. but you know, the man on the street also have to understand they absolutely need the greek economy. and there were no other. so it's tough, difficult especially for the most vulnerable and trying to manage the situation and that it's protected. but on the other hand the fact the man on the street understand what's going on leads to the result of the election they just had a month ago where the government finally won the election. surprisingly for many but won t

is common in greece. >> it is not just the salary cuts. we had to watch the entire country collapse. >> the greek economy has shrunk by 4% this year and unemployment is up by one-third. experts predict the recession will last at least another year. back in march, this woman said she had also been hard hit by the crisis. >> people have become reluctant to spend. few customers will come in and share a pastry. sometimes, they will only order 1 cup of coffee. >> the crisis is claiming a lot of a victim's. only the real professionals will survive, the ones who really love their work and respect to the customers. they are not hiking their prices. we give our customers only the very best. >> we first met this person in late april. he had just opened a delicatessen in a tourist neighborhood. even though the crisis was in full swing, he was optimistic that his business would survive. >> people might stopped by -- some people might stop buying clothes, but they will not stop buying food. >> he finally succeeded in getting approval from authorities,

note >> first though, police in greece have clashed with protesters during a general strike in athensagainst government austerity measures. the foreign minister was chased and beaten by a crowd. the report is disturbing. >> these were some of the most vicious clashes seen increase in the year of austerity and financial crisis. -- seen in greece in this year of austerity in financial crisis. the minister was chased down the street by more than 100 protesters and be an of. one person said they thought the crowd was going to kill him, and managed to take refuge in a building. simultaneously, fighting broke out. there were bombs and firecrackers. the police responded with tear gas, and some picked up the missiles and threw them back. the demonstrators were furious that they pass emergency labour legislation that caps the pay. the reforms were carried under instructions from the imf and european union, which underlined the fact that greece has lost its financial independence. as far as unions are concerned, all of these reforms are things that are going to set labour relations back to the

. >> these were some of the most vicious clashes seen in greece in the year of austerity and financial crisis. a lynch mob atmosphere erupted as a former senior conservative minister emerged from parliament. he was chased down the street by more than 100 protesters and beaten up. one eyewitness said he thought the crowd would kill him. he managed to take refuge in a building. simultaneously, fighting broke out near luxury hotels. demonstrators threw petrol bombs and firecrackers at riot police. the police responded with tear gas and some picked up the missiles and threw them back at protestors. the demonstrators were furious that m.p.'s pass legislation that would cap the pay of staff working for state-owned companies and the setting lower wages. the reforms were carried out under instruction from the imf and european union and underlined the fact that greece has lost its financial independence. as far as the trade unions are concerned, all these implement reforms are things that will set labor relations back in greece back to the middle ages as far as they're concerned. it was essenti

the violence in greece today was very real. in massive protests over the budget-cutting moves. correspondent greg burke has the story. >> tens of thousands of people took to the streets in athens. lobbing molotov cocktail at police in a 24-hour strike. police struck backfiring tear gas at the protesters. one former can he be net member was blooded but saved from the angry mobs thanks to the bodyguard. this brought athens to a stand still, with the schools closed and the airport and subway shut down. upion and government workers were protesting austerity measures aimed to keep greece weakest member of the euro zone from going bankrupt. >> translator: the strikes that take place, burden us but the people are justified. what will the people do? >> reporter: it also took place in capitals like madrid and brussels. the latest greek measures passed in parliament today means cuts for workers at state run utilities. other workers have seen the mention cut. and some taxes gone up as the greece tries to get the deficit under control. >> fortunately, decisions they made can plague us for

rescue in greece and spain public sector pay slashed while taxes rise. for the french it's the prospect of being forced to work longer all measures which ensure working people pay for the mistakes of bankers and governments britain's enduring the harshest cuts since the second world war also reeling over forking out around twelve billion dollars for a huge membership and as we've seen the contribution rise i think is going up by two point nine percent unfortunately that is you know it's enough to get people actually quite quite red in the face quite hot headed because we are having to see massive cuts here local authorities are cutting back on their frontline services and actually we don't feel as british people that we get that much in the we put a lot in we don't get an awful lot out london's biggest protest of more than fifty thousand fairlawn deaf ear is inside the house of commons members voted. make students pay three times as much for that to play as but they'd say vote hasn't dampened the spirits what parliament can do the streets can do the move