people take proper dress of the car the greeks are going to default if the greeks should kick them to the curb and so should the irish as a matter of fact i mean if we're going to start doing regime change we should just just start doing it across the european continent because all these people are in bed together and all of them are don't have the best interests of the people at heart they have the best interests of the banking system bullshit and the political establishment at heart that's the problem yeah so again the analogy with latin america obviously there and i and another lot american countries like argentina famously what well known there what happens when you've got the bankers and politicians coming together to create a fusion of interests of the club pick. rats and they literally just run away with any of the money that's left so why doesn't why don't the greek people understand that they are on the verge of having their entire wealth confiscated from them by christine legarde and the other clump of kratz who are circling like vultures whether they've got a strap on or no

leaders from all of the countries are lobbying greek politicians hard. the parliament will vote next week on whether or not to drastically cut public spending. eu countries and the imf said that if greece is not reduce the budget deficit, there will be no further bailouts. >> he was not invited for the summit but that did not stop him from being the center of attention. the greek opposition leader is a post to his government's austerity measures. >> we have appealed to the opposition to live up to its historic responsibility. "she says any the decisions will only come after the greek parliament has approved the austerity program. speculation800 is rife on a possible plan be should the program failed to get past greet lawmakers. >> the most important thing is that the greek prime minister understands that we will not public to tell them what we are considering and we're not deviating from plan a. he has a difficult task ahead of him. >> if you want all conditions to be met, you cannot let anyone know that there is a plan b. greece must do what it needs to

well you know if greek would default. it would be a domino effect for perhaps portugal spain because it would clear message to the markets that the euro zone countries are not ready to save greece so which country would they be ready to save in the end it would be the crack down the end of the eurozone as a one whole with with the southern european countries you would get a market song and i don't know what you what else you would have but it would be a terrible blow to the european unity and to the european economy and it would be a catastrophe for the economy of greece but it isn't another bailout simply staving off what may be the inevitable anyway and throwing good money after bad it is inevitable to help the greeks out of this crisis of course every little last time it didn't work yes. no because the ministers of finance and that is something they are to blame for the ministers of finance of the eurozone did not show enough resolve and did not take the right and the radical decision to help greece out once and for go

and show that of the greek parliament tonight the pm faces a no confidence vote on whether the past savagely austerity cuts in return for eve trash lifeline or to become a first euro zone nation to default on its debt we've got more on that throughout the night and next hour the most kaiser and co-host stacy hurt us what effect mountains of debt can have on a nation's self-esteem because a report is on the. pastoral welcome to the kaiser report as we have been reporting financial melt. made the world uninhabitable for capital and so now we live in a financial no go zone you are slaves of the talks that have been created a forum in which we are mr wealth and little of the talks explodes. station herbert tell us more max well i have proof of this not only the revolution happening in greece but we have the financial propaganda to convince you the slave on this toxic debt farm to continue incurring more debts not better self-esteem saddle yourself with mountains of credit card debt new study clean yes being crushed under a mountain of debt is typically frowned upon max but new research has sugge

of england and the bank of japan again i suggest water board play max so he's also saying that the greeks are not the problem it's not the people of greece that caused this problem it's the monetary system that is the principal agent and the fact that this is true you could see in the price of gold the point since that takes me to the next headline greeks turn savings to gold and perth mint silver coin sales surge to record on haven demand so the financial times this article points out is reporting that greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks so sales of gold coins have soared in recent weeks and people are converting all their savings into gold that's not gold and silver and you know we were not and recently writing a new documentary down there and had a chance to speak before thousands of people have been on the national television since and translated into greek and the message to the greek people is clear to buy gold and silver to protect yourself against

german and french taxpayers german and french banks and greek. banks and society that needs to take place right now that's not going on and that's the middle solution between just shuffling money around on the one hand and cutting off countries from the eurozone on the other to which we need to struggle she decided i ask you in washington i mean how much more austerity is that entailed because well you know we look at these nice words reform restructure and all that but on the ground is austerity and it really is stinging i was in greece not long ago and that austerity is really quite obviously just someone just visiting for a few days i mean to what point is it politically viable or there's a bit of a go ahead. i think they're going to need a lot more austerity you know you talking about it least another decade of a lot of pain let me just backtrack here in terms of this miller ground there we've been talking about andrew they have a middle ground in principle it's a relatively simple they have a huge federal pot of money was a useful bail out s

the greek banks to remain liquid because they're insolvent and they're able to continue to pay out in fact it was the fourth month month over month that we've seen the clients and the central bank be central government restructure the biggest withdraw our british drawing roughly i think from fourteen point one billion to eleven billion euros so it's perfectly it's perfectly feasible perfectly possible that peace could could be a layman in that sense because it's huge if it defaults in even if it takes a haircut and that's and again that goes back to my point which is why are these banks so obsessed with not getting even the smallest haircut when we know that the greek government can't possibly pay this back and anyone that's here in greece right now knows that the greek economy is falling off a cliff and anyone who's interested in trying to get interest payments is a. not is not doing what they should be doing clearly if your creditors the only thing that creditors are cheating right now is their liquidating assets the liquidity public companies whether their monopoly you know whether

don't go away. >> the vote of confidence for greek -- for the greek government is also a vote for the stability of the euros own. some say that of greece defaults, it could be the end of the common currency. how do we get here? it was a decade ago that europeans began using the euro. we now know that greece lied in order to join the club. athens had a much bigger budget deficit. they fudge the numbers and it appears that other countries just looked the other way, germany included. we began with a look at the origins of the greek debt crisis which has become an existential test for the euro. >> rewind 10 years and athens appeared safe from the financial storm it is caught in. greece was included in the club of euros own countries. the eu had taken the economic statistics at face value. a case of political will overcoming any serious misgivings. in the air of the years of the euro, the greek economy boomed, or so it seemed. in 2000 four, on bell's one often brussels. -- in 2004, alarm bells went off in brussels. five years passed before anyone to the deficit seriously. in 2006, the sove

there's something to that but it's greek banks that are most on the hook here and i think greek depositors will be very disappointed if the e.u. just shut off the spigot tomorrow because they find out that all of their breaks have just reported but also how do you see that's nothing that any greek voter wants of course with the message how do you see that because there is this there is this positive reception out of the problem this is exactly part of the problem that if there were to be a disorderly default almost immediately the greek banks would probably shut down now actually a lot of people in greece have already worked that out and this is one reason why there's been big increases in gold sales a big about of withdrawals from deposits in order to protect to protect the money so to some extent that holds only i mean these c.p.g. providing liquidity so we already know this situation has moved a long way towards assuming a default and therefore people are positioned for it but there will be some lost poor souls that would lose the money here and that's not a good situation in the bankin

and show that in the greek parliament tonight within the hour the pm savage the austerity cuts face a no confidence vote the country on the brink of becoming the first eurozone nation to default. it's midnight here in moscow welcome if you just joined us you're watching r.t. international with me kevin now in our top story officials say bad weather and pilot error are the likely causes of a plane crash that killed forty four and left eight injured in northwestern russia on monday night the russet flight on route from moscow to petros of course crashed into a road just one kilometer from its destination a corresponding test for a similar reports from the seat. a commercial plane that would have landed on schedule ended up in pieces and in flames this tuple of one three four carrying fifty two people from moscow to north western russia crashed on a road around a kilometer from the runway now really missing a row of houses and killing forty four on board airport officials say the plane hit a high voltage power line that cut off lights on the runway which also knocked out the town's elect

the embattled the greek government wins a crucial confidence vote in a deeply divided parliament with a margin of just four with thousands currently demonstrating in angry protests outside the building this decision opens the path for a new austerity cuts needed for another. bailout but it's likely to face continued fierce public opposition. coming up next the alyona show which discusses the role of big banks in price manipulation and finds out why libertarian views are becoming more and more popular in the us. well kind of a loner show where we get the real headlines with none of the marcy like me live in washington d.c. now today i will take a look at a new poll that shows that libertarian views are becoming more and more popular then just how much of a role do big banks like goldman sachs play in price manipulation we're going to break it down for metals to oil all the way to food and keith olbermann debuted his new show on current t.v. last night was a really alternative media or just a lot more the same when you get into all that and more tonight but first let's take a look at wh

when showdown in the greek parliament the pm faces a no confidence vote on whether to pass out of its new austerity cuts in return for an e.u. cash lifeline for become the first euro zone nation to default on its debt. now max kaiser and co stacy herbert doubts what a fax mountains of debt can hop on a nation's self-esteem kaiser report is next for an archie. keyser welcome to the kaiser report as we have been reporting financial melt. made the world uninhabitable for capital and so now we live in a financial no go zone you are slaves of the talks that have been created a fall in which we are mr wealth and little of the toxic sludge slowly station over tell us more max well i have proof of this not only the revolution happening in greece but we have the financial propaganda to convince you the sleeve of this toxic farm to continue incurring more debts one better self-esteem saddle yourself with mountains of credit card debt new study clean yes being crushed under a mountain of debt is typically frowned upon max but new research has suggested this could actually be a dream. for many yo

and showdown in the greek parliament the pm in savage new austerity cuts face and no confidence vote without them is on the brink of becoming the first euro zone nation to be far. from our headquarters in central moscow you're watching r t with me thanks for being with us straight to our top story bad weather and pilot error are the likely causes of a plane crash which killed forty four people and left eight injured in northwestern russia officials say on sunday night the route their flight en route from moscow to pet the result was crashed onto a road just one kilometer from its destination let's cross live to our chief peter all over who's following this developing story for us peter take us through how much we know about how this tragedy unfolded. well the investigation into what exactly happened that caused this crash still didn't really get its infancy where the black box recorders have been recovered from the sites of the. to you one three four fly a plane had to crash land on a highway about a kilometer away from the intended destination of the airport but those of us in the n

who along with george and us filed the lawsuit against the greek government speculators for their role in this larger financial. syndicate project using the derivatives markets on the one hand the c.d.s. market their insurance market and the naked short selling bonds on the other hand with the v.a. to the greek central bank which expanded the settlement period for shorting government bonds from three days to ten days and that kind of all plays into this whole thing because it's not just about. these specific bonds that they were bought by post bank in the spring and summer of two thousand and nine and then sold in december after the new government came to power to some third party that that third party has not yet been confirmed but it's also a question of the larger question of who owns all these other dirt of contracts that are bets against greek default and already the people in the gauche ations over the over bailouts for greece are they owners of this do they have any any interest in this so there's these massive potential conflicts of interest and one of the things that the m.p.

contracts are still held by the hellenic bank then the money that the greek government is seeking to offset their losses would have would be reduced correct what is certain is that they sold their only umbrella before star so were they have been better off the absolute were better off because it was an insurance contract insuring against the fall and even if they didn't have a default those let insurance contract was rising in value so so in that sense the absolutely better off meant that would have saved them from a complete default no but but metaphorically metaphorically it's also something that i could kind of the country was most vulnerable it was the one thing that it was directly correlated to the health of the economy indirectly so the more in dire straits the country was in negotiations with the i.m.f. and with the e.u. the more value this asset would have so it's the least thing that you would want to get rid of once you've come into the government and you've looked at the books and said ok we're cold cow you know our deficit is way above or we've been saying it is our nati

believe for a restart of our economy the greek russian corporation must be people and why the right greek and p. cmos thank you very much for being with us live on the line from. parities financial guru max kaiser says greeks are being fooled into paying off a debt they're not responsible for you can catch up with more of his thoughts on the scandals behind the economic struggles in greece later this hour here on r.t. all languages being abused. are talking about the people and their it's not the people that those people don't have the debt the brokers gave them their debt o.b.d. they're suffering from other people's debts it's not their dad that's why they're having a revolution. but a call treatment as a lot of reward less than half the patients live to seek a cure that's the nightmare scenario facing parents of children with deadly hunter syndrome here in russia where extortionate costs and lots of state support are snuffing out young lives on a boycott reports we first met followed in february he's here fourteen according to his birth certificate he looked have. his hearing was rapidl

greeks are suffering. he needs to restore confidence in the country. >> thank you. >> -- well, agrees in general may be against the austerity measures, but the eu has approved of them -- greece in general may y be against the austerity measures. >> they say it is an important step forward, while at the same time taking an important step back from a problem. ththe chcellor is standing ready to help along with the european union. >> angela merkel is relieved at the outcome. the chancellor says greece had to approve the austere to measures for itself and for europe. >> it is an important step for the future of greece and also for the stability o of the euroa a whole. greece has shown it is willing to put in what will likely be a difficult path. >> at the german bundestag, high-level talks were under way when the news came in. the ceo of deutsche bank and others expressed satisfaction. they have been negotiating the issue of involving commercial banks in rescuingn greece and giving athens more time to repay th

the greek m.p.'s are taking public opinion into account i mean people have been protesting for a year now and they're preparing to vote again on these austerity measures hundreds of thousands it looks like people are out on the greek capital are they going to listen to these people. yeah they're trying not to hear us but you know something even if they vote for a these. old fellow in the parliament they will not have many days in the government i think that the group go over and we will be on elections in this country because a you know the socialist party that governs now a his last every. everyone who voted for us all for the socialist by the way they said other things before the elections and they do other things now and not only they do other things all poset thinks but they are leading our country to that that's terrific and that's something we want hillary it's a matter of leaving a little bit for the people. my country you have to understand that when the market is leaving or there is no gover

investors waited for that vote in the greek parliament. this update from frankfurt. >> the greek debt crisis was again responsible for a shaky move in the german stock market. the dax was going up and down. in new york, investors have been more optimistic, helping the german market. the euro hopes to [unintelligible] the involvement of the financial sector in the greek rescue is becoming more likely. but the details are not clear, making investors nervous, lending to the poor performance today. >> thing at from for for a moment, a look at those closing numbers. the dax finished down slightly. the eurostoxx ended up slightly. the dow jones is a little stronger, up almost a full percent. the euro is "-- is currently trading for $1.47. making bankruptcy easier is what germany might do. the idea is to reduce red tape and let the business sector have more say in your position process. >> lots of businesses closed down during the economic crisis, but that is happening less often these days. in the first six months of 2011, nearly 15,000 business

ten pm here in the russian capital you're watching r t thanks for joining us now our top story the greek government has voted in favor of a new round of austerity cuts securing the next multibillion installment of cash from the e.u. and staving off a default but furious protesters have reacted violently to the vote with battles between police and demonstrators continuing just meters from parliament all scenes from downtown athens resemble a war zone as protesters fight with riot squads made of volleys of tear gas hundreds of thousands of people nationwide walked off their jobs for a two day strike against the a sturdy cots and they say drowning the country of death at crippling interest rates has failed once and it will fail again well there were reports of escalating violence in constitution square with dozens reported injured or detained by police and national journalists dimitri believes the government is living apart from the needs of the people. there's been a lot of fires a lot of tear gas you can't really breathe you certainly can't breathe you can hardly see and it's the worst th

of money actually comes into the greek economy it all goes out. the battles on say good banks and prevent a large scale financial crisis for the people the price is simply too high they see their income going down they see taxes taxes taxes and nothing else their money does not go to a very early corner me a year a struggling against hostile sterett he measures a great big government now faces an electorate opposed to another bailout they are going to get all the state property. state. property and they are going to get almost everything. and live. off the good people they are going to get in this in this. first month. it certainly can it's a high cost for the cuts in public spending and raising taxes and an aggressive privatization program it would mean the sale of many quick. fixes robbery this is theft this is tension on the streets of athens continues to mount violent scenes witness recently disturbing testimony to just how far situations deteriorate is one of the reasons that everybody is so determined to keep greece in the euro is so that th