morgan connected to the fragile and dance that are being applied toward greece my. name as it even a traitor a dreamed of traitor could be in the suit yes and proceed to do with fine call your trades. pursuit your fatal power your solace yes needs you will know when you will when you say to see this ponder here you have the knowledge that it is nate people not make if you understand all of these particular circumstances . a crime so per se could a reason child it was fine. to shoes your own crew would be the persons who are being duped exit is possible or not yes and and the way you're going after this also right here year applying the way just departments have gone after rackets in the mafia in the past they find a low level thug in the chain and they go after him and get him to squeal and then work their way up to food chain toward the big competent capo like a lloyd blankfein or jamie diamond correct yes that protrudes tool kicks the razor . decide they're going to be very certain that it will be the justice of this crowd that but we're for them a lot of elements

morgan connected to the fragile and debts that are being applied toward greece mine . name as even a trainer a derivative trader could be in the suit yes and proceed to do with fine car you trade. what procedure you fail oh you sold this suit yes needs you know when you will when you say oh see this bunker you have the knowledge that it is nate you don't look make it you understand all of these particular circumstances created a crime so proceeded to who's in charge of this crime. the shoes your own crew will get a persons who will be x. it is possible or not yes and and the way you're going after this also right here year applying a way just departments have gone after rackets in the mafia in the past they find a low level thug in the chain and they go after him and get him to squeal and then worked their way up the food chain toward the big copper to cop out like a lloyd blankfein or jamie diamond correct yes that proces tool keep the reservation or always be say going to jerusalem that would be the justice of his comrades but we're for them the love affair lemons th

in greece and gave me this time so that's the first thing i want to say about greece the second thing i want to say is as we've been talking about on the show for months the greek debt situation is a plaything of the c.c. king banks on wall street there is no onerous debt there are only assets and fees to rape and pillage and take from the greek people we just came back from athens i played to a standing room only house once again with the hang the bankers who are people in greece still think that there is some logic behind their financial right for their country they don't understand us just requests so the quote from klaus regling is that he said in the one nine hundred eighty s. and one nine hundred ninety s. banks cashed in very high fees for the restructuring of sovereign debt in latin america and asia they would like to do that again in europe and apparently shanghai tree shea according to this article is also on board with this he believes the city has warned sovereign nations that this is happening that these banks just want a stupid fee and they'll throw entire nations under

your country of greece. look good or bad getting here in greece it is one of the prime do less of the greek government bonds markets it is like governments are sort of apparently there's. by working in these remote good from so many years but believe me people are speaking about the losses of the bank would suffer any further greece would default but believe me the first interest with germany today it is it could be furled that's way in the last month there you would hear a lot of german closeness existing to the greek government to. pretty fold mission beautiful declare ation official default equation because the limits are very important that you're. getting cheaper gas storage today units one forty five one forty eight and with the good that price hist chairmans cannot export question below german economy is it fifty percent exporting g.d.p. fifty percent exporting or quantum it for them with a euro a tonne thirty eight it is very very difficult to compete to the world market so it was fair to have a lowe

>> greece is in the euro. britain didn't join the euro for good reasons. greece did join the euro. the question is a red herring. what greece needs to do is work within the currency zone it's in. i do point to the example of spain. actually, i would point to the example of britain, of countries that can earn market credibility, get their interest rates down through implementing difficult packages to reduce their debts and deficits. there are examples out there of countries who have done it. i just don't accept that that's the case. >> do you think that the austerity measures are too tough? >> i think that we have no option but to clear up our public finance, reduce our deficit, and get our debt back on a trend that is sustainable. if we don't do that -- i totally agree with george. we pass on to the next generation, as we have done in france for the last 32 years. we pass on the debt, and wash our hands from it and live beyond our means. >> what we're seeing particularly in northern european countries is people are having to live with austerity, at the same time facing the prospect

la thank you very much for being here with us on the program so tell us what are the chances that greece will pull out of the eurozone and also mind that sound the death knell for the euro itself. well the chances that greece exiting the euro zone mounting by the day we had some very strong statements from one of greece's representatives yesterday yet the european commission who is saying basically we've got two choices either we could truly agreements with our creditors we take severe austerity measures which will keep you popular in the country or else we return to the drachma the issue here is can greece actually go any further in its restructuring can greece actually take all the measures which are necessary i'm not totally sure because when you look at the interest rate it's got to pay the extra you need punitive in a way the markets have already fucked to did the fact that they believe that's reschedule to give the debt is only cards or at least if not a partial default if that were to be the case if that were to be the case greece could just very well say well the euro area it's c

athens greece will the view that greece should quit the eurozone is echoed by some european countries with politicians saying the move would be beneficial for both the rest of the bloc i think that the euro must limit its members it's unavoidable that those members those countries who cannot and who won't reform into the same economical life that we see in germany that we see in finland in netherlands and other alike countries they simply don't belong because they will never have the economical challenges or requirements which are necessary in order to maintain the speed with the with the german economy and therefore if they maintain the euro they will constantly they would permanently be behind and therefore be depending on money from other countries tax payers obviously that's quite arms and satisfactory for these even these psychiatry's that are receiving the money but especially of course for those countries whose taxpayers are paying the bill so there's only one way if you want to rescue the euro in the realistic world and that is to exclude or even more positively freely let the

in greece and gave me this time so that's the first thing i want to say about greece the second thing i want to say is as we've been talking about on the show for months the greek debt situation is a plaything of the c.c. king banks on wall street there is no onerous debt there are only assets and fees to rape and pillage and take from the greek people we just came back from athens i played to a standing room only house once again with the hang the bankers who are people in greece still think that there is some logic behind their financial right for their country they don't understand us just requests so the quote from klaus regling is

happens greece is going to spread to go to our website ot dot com you can read the greece is far from being the only troubled european economy spray in my also followed suit is soaring unemployment and harsher steroids images triggered mass protests all over the country got much more about that online from on our website. on a lighter note if you because you love this classic american call that some soviet era volga is cruising the streets of moscow find where these antique automobiles were heading out our seats of course. but they were put his office says that the allegations of the former chief of the international monetary fund against russia's prime minister are ridiculous the only extras cards reportedly accuse putin of being part of a plot to have him fired from his post the british daily mail newspaper has claimed that before his arrest on sexual abuse charges strauss can voice concerns that he could fall victim to conspiracy and did an interview with a french t.v. channel a colleague of strauss kahn said the chief told him that russia and france were trying to started running

first greece. and now portugal as the usa is bailout but number there are now serious concerns that spain could be the next to topple. protesters throughout europe clamoring to the case even more taxpayers' money being plowed into rescuing others that could have done that i don't think that. i think that. that is because that is a good thing i don't think five makes about it believe it was forty three percent of under twenty five that it was like the whole labor market the focus was still so i do think i think that this going to be. something that the usa is problems weren't enough there is now talk of police the full thing and it's even potentially accepting the year. and portugal's recent bailout is reported to be worth around seventy eight billion years that spain is the euro fulfill largest economy the different challenge altogether if it fails. if the situation happens when the markets would not manage it buying out of spain's debt is the most catastrophic scenario for the e.u. what will the e

let's go back to greece.ly clear that the package put together is going to be short in 2012 and 2013. that's a topic being taken up in brussels today. and it's a debt trap that researchers say greece cannot get out of. >> the cuts in public spending, having a devastating impact on demand. just pushing up undermining attempts to bring back up government spending. they're in a vicious circle. whatever they do at the moment, i'll makes the debt trap worse. >> while the european union will try to put off a position by greece, until an audit was done, which brings up the topic of dominique strauss-khan, they were going to try to make a decision in june. it is on the agenda, as they meet this afternoon and tomorrow. they are trying to put a firewall in front of spain because of the size of the economy. it did grow above expectations in the first quarter. they can limit it, nina, to the peripheral countries on the agenda and leave spain with a big success at brussels. >> live on the scene for us in brussels. >>> hea

and greece are fast approaching. as famous greek businessman aristotle onassis once said to be successful keep looking chair and live in an elegant building even if you're in the cellar be seen in smart restaurants even if you only nursed one drink and if you borrow borrow big. greece certainly grow big but it hasn't helped its success a modern country built on a glorious ancient civilization is on the brink of national financial disaster and some e.u. members which helped bail it out are no longer happy with the anti-crisis measures taken by athens. we can't just show you solidarity and then say that these countries can't continue as before we can't have a common currency but some get lots of education time and others very less so that won't work in the long term. to the people of greece already suffering from severe job and wage cuts this statement was a slap in the face of the ideologies that greeks are those guys who lie in the sun and don't work well the reality is not that greeks and you have statistics. very s

i'm with greece's debts climbing fast the e.u. takes a hard line on athens deepening the schism between the nation. and our top story in business was kind of budget deficit by more than half its yaz record oil prices have caused investment help that hurt during the crisis we'll have more on that and other stories in our business bulletin accomplishing that. this is our tease ten pm monday evening here in moscow will more come from me kevin i mean here at our team tonight our top story political unity among all palestinians is needed to achieve peace with israel and created a dependent state russia's foreign minister a voice that very view on the conflict as the two main palestinian parties came closer together at a meeting here in moscow coming palestinian municipal elections were also on the agenda our correspondent to go person off of the talks. since hamas and fatah were able just sat there are differences aside after years of animosity they've now decided to form a joint government given same hope for russia support and over t

greece is now in a bind. it must impose even more stringent austerity measures in order to secure the funding it desparately needs. but the bloodletting most certainly will deepen the country's recession. even i know greece's once lively business districts are largely empty of shoppers. domestic consumption has plunged and businesses are going under. if the government fails to cut deeper with its austerity measures it would forfeit the bailout funding and would have to default on its debts. no one knows which way greece will go. >> well, as greece prepares to privatize public assets to help pay off some of its debt, foreign investors are eyeing opportunities. the german airport operator has expressed interest in obtaining a stake in athens airport. currently the greek state owns 55%, but with opportunity, of course, comes risk. and inevitably, tough reform. last year passenger numbers at the airport fell by 5% and profits tumbled by 40%. on to the markets saying european shares rallied. our correspondent sent

that's greece then ireland and now portugal as the year is saying is bailouts go a number there are now serious concerns that spain could be the next to topple the protesters throughout europe i clamoring to even more taxpayers' money being plowed into rescuing others. to go ahead and that very. thing again. that is because. i don't. think that it. was forty three hundred twenty five that is why i didn't like the whole labor market was a little side was i think that these are going to be sad this is only. the women we were listening with the millions who if the year is things problems weren't enough there is now talk of greece defaulting on its loans even potentially accepting the altogether and portugal's recent bailout is reported to be worth around seventy eight billion year spain is the euro zone's fulfill largest economy a different challenge altogether if it fails. if the situation happened the markets would not manage it buying out of spin's debt is the most catastrophic scenario for the e.u. what will that you do i think in many experts share my opinion that the e.u. will do the

the chances that greece go to exit the euro zone of mounting by the day. i start and express outrage over austerity measures we ask how likely is it that greece will drop out of the euro zone that's coming up in a few minutes here on our team. in the meantime moscow says the violent crackdown on mass protests in georgia is a blatant abuse of human rights and is demanding an international investigation thousands of taking part in five days of protests calling for president. to resign they are dispersed by armed policemen ahead of an independence day military parade thousands and up in hospitals and almost one hundred in jail. is in the middle of events there. the day of independence military parades going ahead today as president saakashvili addressing a crowd of military personnel many of the civilians staying away that heavy military presence many of the race are being blocked off and quite possibly not many of them wanting to turn out of the violent clashes we saw erupting as police tried to disperse the crowd of demonstrators outside the main parliament

like greece is i think it's it's it's it's a crisis it's it's a new strain it's relation. to the republic of georgia now where thousands of anti-government protesters are clearing up for a third day of inspiration's opposition that is according to the revolution as they claim or oust the incumbent president peacefully by wednesday. of this government moving. well. thousands of products in the capital from the city and it's a small gas but it's something. that's the largest. movement against the government since two thousand something similar that's a total of the regime's actions here its. evolution is still to be going on and it's not up to us as a government to be generalists in when governments begin to terrorize people when governments risk eight hundred still absolutely innocent people by a government that beats very seriously. looks of people would say confiscate property of the citizens and at last one sacred balance for chives peaceful manifestation i would like to remind you that this manifestation sanctioned by the side of the government we have i think a democra

european countries are going to want to see a t me offer from greece.second point was a point you referred to. there's now a growing consensus that some sort of soft restructuring of greek debt is on the cards. crucially, that would involve the private sector, but also crucially, it would be voluntary. some interesting negotiations will be upcoming there. >> what happens now? what are the next steps? >> the next moves are that a team of european officials, imf officials, they are drawing up a report that will be used as the basis for decisions in june. the ministers who were here today, at that point, are going to have to decide how much they help greece, with a get in return, and effectively, the year once again will be crunched out. >> thank you very much. for news on the markets, let's turn to our correspondent at the frankfurt stock exchange. >> strong losses at the german stock market. the dax is down the fifth day in a row. there is troubles with the economic environment. analysts have been getting disappointing economic data from the u.s., puttin

with greece's debt climbing fast the e.u. takes a hard line on athens deepening the schism between the nation that and the euro. is artsy it's eight pm monday evening here in moscow welcome if you just joined us one name is kevin know in our top story tonight political unity among all palestinians is needed to achieve peace with israel and create an independent state russia's foreign minister a voice view on the conflict as the two main palestinian parties came close together at a meeting here in moscow a coming palestinian political elections were also on the agenda our correspondent has been offspring following the talks. since hamas and fatah were able to set their differences aside after years of animosity they've now decided to form a joint government and previously they've been saying that the hope for russia support and over the weekend their representatives have been meeting with russian diplomats and now we've met with the foreign minister himself and syria are often said that russia has an active member of both the

greece's debt climbing fast the e.u. takes a hard line on athens deepening the schism between the nation in europe. and in business well said could clear its budget deficit by more than half this year prime minister finance minister could rant says record low prices will also help boost investment and pay off debt incurred during the past we'll have more on that programme about twenty minutes time. this is artsy very good evening it's nine pm monday night here in moscow my name is kevin zero in our top story tonight political unity among all palestinians is needed to achieve peace with israel and create an independent state russia's foreign minister voiced that very view on the conflict has the two main palestinian parties came closer together at a meeting here in moscow coming palestinian minister put elections were also on the agenda our correspondent in been following the talks for us. since hamas and fatah were able to set their differences aside after years of animosity they've now decided to form a joint government

best greece. and now portugal as the u.a.e. things paid out great numbers there are now serious concerns. spain could be the next to topple. a testis throughout europe clamoring to the case even more taxpayers' money being plowed into rescuing others was. i think again that even that is becoming that. i don't think that my break is that it probably was forty three per cent of under twenty five that is why i didn't like the whole labor market was that i was a i think it's going to be. this is. where the women will is where we will be millions in the year is a problems weren't enough there is now talk of greece defaulting on its loans even potentially exiting the year altogether and portugal's recent bailout is reported to be worth around seventy eight billion year that spain is the euro things for for largest economy the different challenge altogether if it fails. if the situation happens when the markets would not manage it going out of spins that is the most catastrophic scenario for the e.u. what will the e.u. do i think in m

first greece, then ireland, and portugal, now agrees again.opean ministers are considering a second greek bailout, and as usual, germany is at the center of the decision. bailiffs are so difficult politically here in germany -- bailouts are so difficult political year in germany. people here do not feel it is fair. and for years they had real wage cuts and difficult reforms to make the economy as strong as it is today. as far as their concern called reece did during that time is run up a massive bill. at this -- , as far as they are concerned kamal greece did during that time is running a massive bill. at this insurance company, last year was their best ever. the drugs may be based a lot -- >> maybe they still had the same attitude after wartime, when you understood that only hard work will be the key to success. >> but germans also gained enormously from the single currency. the trade flows in the eurozone have not robyn one way. but looking at germany -- have not all been one way. but looking at germany's trade surpluses, one can feel that w

of course, there have been a lot of protests, including in greece. >> in greece. and the opposition politicians there are just creating a humungous mess. they should find some heroes on that winged horse pegasus because they're going to need heroic action. the prime minister failed to win support from opposition party leaders for new austerity asures needed to overcome t country's msive debt crisis. meaning? he will have to enforce unpopular policies all by himself. euro's policymakers warned athens t tt the provision of fresh funding would be con continucontingent of debt cuttig measures. however in stark contrast to that, opposition leaders are making unrealistic demands that the country's existing e.u. i.m.f. bailout be completely renegotiated. >> the greek government badly needed the opposition to agree to its austerity plans. even with the country poised on the brink of financial ruin, its politicians failed to find consensus. the support of the opposition was one of the conditions for the next payment of bailout funding from the i.m.f. and the e.u. the gover

one of world leaders gather in france to deal with the new world in greece and parts of the old world threatening to collapse. the chances not greece to exit the eurozone mountings by the day as of thousands expressing outrage over austerity measures we ask how likely is it that greece will drop out of the euro zone that's coming your way in just a few minutes here on out. of moscow says the violent crackdown on mass protests in georgia is a blatant abuse of human rights and is demanding an international investigation thousands have taken part in five days of protests calling for president mikhail saakashvili to resign they were dispersed by armed police and the head of an independent state military parade doesn't end up in hospitals and almost one hundred in jail after itself earth is in the middle of the events. well the independence military parade is going ahead. with a speech that he was talking about freedom of speech georgian people. talk comes on the back of a show extreme force from his police forces last night as they disperse the protesters gathered at the main parliament s

the turmoil in greece is threatening to turn into a tragedy the country's e.u. commissioner thinks membership of the single currency is under threat the first time a senior european official has admitted as much as coupled with the latest mass protests in athens expressing outrage at austerity cuts economist alexander lore says that greece is heading for the euro exit. the chances that greece exit the euro zone are mounting by the day there are two ways out just be very frank about this the first way out is the way out where you go where you say where greece ace we can't take the austerity measures are we something's got to give are we going to default on our debt and leave the euro area if not the only other solution is be extreme sure about that. european countries agree to bail outs. indefinitely each and every country which has got problems in effect a fiscal year year and for that we need what what do we need what we need the country from northern europe to say we accept to pay for us of the neighbors that however appear to be extremely unlikely so i think

and greece's debt spiraling out of control the rift with e.u. ranters depends further big rig on the team at the european states. and here in business russian energy companies continue to seek new opportunities in the middle east despite increasingly the region we'll have details coming up for you in our business bulletin in about twenty minutes from. now watching r t five pm in the russian capital thanks for joining us political unity among all palestinians is needed to achieve a peace deal with israel russia's foreign minister voiced this view on the conflict as the two main palestinian parties came closer together at a meeting in moscow upcoming when a simple elections were also on the agenda as policy signals seek help to resolve their regional problems well let's now get more from our correspondent rigor he's going to be following the bets for us how you go or what has been discussed in moscow today. well and hamas are the two most powerful political forces in the know that he'd be able to set their differences aside earlier this. after yea

the chances not greece going to exit the euro zone mounting by the day as thousands expressed outrage over austerity measures we ask how likely is it that greece will drop out of the euro zone that's coming your way in just a few minutes right here on out. or independence day in georgia it started with a violent crackdown to put an end to five days of mass protests in the capital tbilisi dozens of those demanding that president nicolas sarkozy's resignation were hospitalized after police used tear gas and rubber bullets to disperse the crowds ahead of a military parade sarah furthur is in the middle of the events. well the independence military parade is going ahead. president sarkozy in a speech that he was talking about freedom of speech the georgian people but that comes on the back of extreme force from his police forces last night as the. protesters gathered at the main parliament square now he also. said he was going to defend the country from external forces and the protesters yesterday didn't want freedom of speech what they wanted was a victim of violence well whatever the ca

and while the world leaders gather in france to deal with a new world in greece the parts of the old world are threatening to collapse. the focus is not greece go to the big see the eurozone the non-teaching by the day as a thousands express outrage over austerity measures we ask how likely is it that greece will drop out of the euro zone that's that's coming your way in just a few minutes. now mr says the problem to crack down on mass protests in georgia is a blatant abuse of human rights that is demanding an international investigation thousands have taken part in five days of protests calling for president mikhail saakashvili to resign they were dispersed by armed policemen ahead of an independence day military parade dozens right up in hospital almost one hundred in jail sarah furthur is in that middle of events. the day i think the military parades going ahead day as planned. really addressing a military person many of the civilian staying away the heavy military presence many of the races being blocked off quite possibly not many of them wanting to turn out after the violent cl

we need to get on top of the situation in greece. its debt needs to be restructured, and if that is done in a coordinated way, the whole thing can be wrapped up with limited damage. it increased decides ultimately to leave the euro, which is free to do, then its competitiveness could be improved decidedly. >> the ratings agency standard and poor's was quick to react over concerns and cut the country's credit rating. it says it looks increasingly likely that greece will be given more time to repay its bailout loans. but its decision about more aid for greece is not yet on the table. experts are reviewing the current situation. >> the german economy continues to power ahead. experts -- exports surged in march, reaching all-time highs. it is a sign the economy has rebounded. 98.3 billion euros, the highest monthly level since 1950, when records began. >> cars, engineering products led the list of exported products. two thirds when two eu countries, as demand began to pick up there. german exports have changed, but the rise in march was

greece and hungary were the most critical. the-mobil also struggled to compete against larger rivals, losing nearly 500,000 customers in the first quarter. deutsche telekom has agreed to sell the unit to at&t, regulators still have to approve the sale. deutsche telekom has sought to reassurenvesrs a reaffirm it full-year profit target of 19 billion euros. >>> a major electoral victory for nationalists in scotland, now step closer to a vote on independence from the rest of britain. nationalists in the parliament have made historic gains, winning the majority for the first time. the scottish national party won 65 seats in the 129-seat legislature. and the party says that it will hold a referendum on indepeence witn fi yrs. opinion polls suggest it is not certain that scots will vote to end the political relationship with the u.k. and british voters have overwhelmingly rejected the proposed reform to the country's voting system. the no result in the referendum is a major blow to the liberal democrats. the junior partner and david

r t athens greece well if you go to our website that's our dot com you can rebuild greece is far from being the only troubled european economy spain it may follow suit i soaring unemployment and harshest early measures trigger mass protests all over the country. are. now classic american corvettes and soviet era ball does cruising the streets of moscow find out where these antique automobiles are heading our team dot com. well to brussels now we're e.u. foreign ministers are putting the pressure on key countries and syrian president bashar al assad's assets have been are frozen and he's now banned from entering your territory well it comes in response to the violent crackdown on anti-government protests last week the e.u. slapped a travel ban and as a freeze on the thirteen other senior syrian officials meanwhile the block's also taken action against iran over a hundred more people and companies are added to a list of those affected by the sanctions well these measures are designed to force terror on to abandon its controversial atomic program. let's now look at some international new

turns up the heat on greece for not doing enough to stop driving down in athens at lunch is back and it's pushing itself to the limits. which is sixty five percent of russia's online search market may raise up to one point three billion dollars from its nasdaq i.p.o. price is shares at the top of their range that would make it the biggest time line internet since google were in business in twenty minutes. you're watching our table let's go straight to our top story now russia is offering a helping hand but libyans and palestinians that efforts to negotiate peace agreements and the beach of representatives of the libyan opposition and palestinian leaders of the whole separate talks with the russian foreign minister. has gone off for more on this you go let's talk about the libyan delegation. what's the opposition actually hoping to achieve in moscow. well these delegation from bin ghazi the rebel stronghold is expected to discuss the preconditions for us ceasefire and this meeting will come after another one last week with representatives from tripoli and back then drupal he said it i

and in my view absolutely speaking of europe greece pays roughly ten percent of its g.d.p. in interest costs alone and it started staring at a likely straight year of g.d.p. contraction can athens avoid a default without more bailout funds probably not this is a serious concern for the greeks. the bigger concern for europe is that should we allow greece to depart from the euro that would destabilize the euro so therefore greece has to commit to very serious reform there is some political move towards a purpose and a bit better if you think about it even of greece were to restructure their debt by fifty percent or to compete with quite a long time to recover natural growth rates it's got an economy that's the eat out that's nasty you're a big bob dylan fan i hear and read here so what do you think bob dylan would say about this financial crisis i think you're probably going to version of his seventieth birthday and stay forever young and look into the future in the future when we look like this is only a blip this one little crisis as i said earlier to you it is not afraid o

belt problems continue greece. and now portugal possibly it is. do you think it's a. real threat and right now your kid like the reality. of the state. of the. eurozone bailouts could be compromised by the arrest of the international monetary fund's chief on charges of sexual assault stunning stroh's carnes since resigned and is in new york awaiting trial meantime french finance minister christine lagarde merged as the front runner for the i.m.f. top job but that is only a partial reports without stross car europe's financial revival now hangs in the balance. no strauss called no euro that's what bankers the whispering off the police charged 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 europe pushed out of the euro and there we've got to understand that. belief that the euro could and should be saved in the face of north steel resistance from richer states stroll scorned led this week's bailout of portugal germany and france insist on oil and raises its low corporation tax p

first greece then ireland and now portugal as the u.s.a.'s bailout is growing number there are now serious concerns that spain could be the next to topple the pretest this throughout europe a clamoring to oppose even more taxpayers' money being plowed into rescuing others . that could have done that on this very. thing again getting that this was getting i don't know why it makes it that it probably was forty three percent of under twenty five that is why i didn't like the whole labor market the province of a little side was i think that there's going to be inside this is only. the women we will listen with and we will be millions from here is ames problems weren't enough there is now talk of greece defaulting on its loans even potentially exiting the year. and portugal's recent bailout is reported to be worth around seventy eight billion years that spain is the euro zone's fulfill largest economy bit different challenge altogether if it fails. if the situation happens that the markets would not manage it going out of spain's debt is the mos

tiny greece wasn't even a factor. so athens borrowed and spent like crazy, creating a little welfare state paradise of its own. but when trouble hit, that same single currency proved to be a straitjacket. growth has collapsed. greece's debt is about 150% of gdp, and it cannot devalue its currency to make its goods cheap and attractive on world markets. it's stuck with the euro. and rich european countries, chiefly germany, resent having to bail greece out because they can't force it to change its spendthrift ways. the fancy economic way of saying this is that the euro zone has unified monetary policy one currency but still has diverse fiscal policies. so what to do? two options are being debated. and those two options highlight europe's opposing forces. first, the eu leadership's plan, stay the course. more austerity for greece. more budget cutting. and, of course, more loans to tide it over. ignore the fact that greece can actually never repay them. the second option, some top german officials say they don't want to

down by greece's attitude to its debt crisis is putting a new strain on its relationship. to the republic of georgia now where thousands of antigovernment protesters are gearing up for a third day of demonstrations position that is are calling it a revolution which they claim oust the incumbent president peacefully by wednesday describing the call suckers for the government as a criminal regime and claim they bring drugs credence. to the profits. police used tear gas and rubber bullets to spur some of the protesters that's the largest public movement against the government since two thousand and seven opposition leader mir. regime's actions are using people. evolution is already going on and it's not up to us the government in general should when the government began to terrorize people like government arrested hundreds of absolutely innocent people in government it beats very seriously. the looks of people when they confiscate property of the city this and at last was sacred down four times peaceful money to station i would like to remind you that this many stations sanct

this problems continuing greece. portugal the possibility of a mix i've been experiencing the teeth of remains a very real threat and right now you're ok like the reality this seems so far there. are talks on the eurozone bailouts could be called prized by the rest of the international monetary fund's chief on charges of sexual assault against a hotel worker in new york dominique strauss kahn has resigned over the scandal and is on six million dollar bail awaiting trial and french finance minister christine legarde has emerged as the frontrunner for his job but as r.t. is daniel bushell reports strauss contacts with e.u. leaders were key to helping save the ailing euro so far. who knows called no euro zone because the whispering of the police charged the now 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 their way you've got to understand that. belief that the euro could and should be saved in the face of north

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of course downgraded greek that again and now greece is questioning the integrity of the s. and p. . so maybe we'll get a good old fashioned dust up down there in greece awfully the the greek people will win against the the financial terrorists now there's an interest or the u.k. faces nine trillion pounds of savings shortfall what's this about our well again we're talking about a top down tyranny so when we start at the top of the show we're asking the question is the commodities boom over what is the fee on its currency collapse around the world is is that spending well you know nine trillion pounds which is what fourteen trillion dollars needs there's a shortfall of that amount for people retiring so where is that money going to come from it's going to be printed or. older brits are going to have to accept a severely reduced standard of living yeah it's similar to the peak oil story i remember a story from a couple weeks ago memory people were driving around looking for gas that was cheaper or some other gas station until they ran out of gas and they were stranded and the