>> lagarde: we had warnings.r telling hank, "we are debating what kind of swimming costume we will wear and the tsunami is coming." i remember him saying, "no, no, no, no. things are under control. it's okay. it's fine. it's fine. it's under control." >> logan: but it wasn't. >> lagarde: no, no. of course, it wasn't. >> logan: three years later, lagarde told us not nearly enough has been done to prevent another crisis. >> lagarde: everybody at the time said, "oh, we need to regulate better. we cannot let financial actors-- banks, financial institutions, speculators-- just run loose without rules." and we've been relatively slow in... in, you know, putting the rules in place. >> logan: some people listening to you say that will be horrified. they'll be "that's the last thing we need is more regulation." what do you say to them? >> lagarde: regulation is necessary, particularly in a sector, like the banking sector, which exposes countries and people to a risk. >> logan: one thing that looks very familiar to america

one of those voices is the imf chief, christine lagarde. held a news conference in beijing. let's go live to eunice yoon. what exactly did lagarde have to say and what do the chinese make of her. >> reporter: nina, christine lagarde has been meeting with business and political leaders for the past two days. people are very concerned about the help of the euro zone. people here in china as well as across the region volcano been voicing their fears that the problems in europe could hamper global growth and potentially tip the world economy into a double dipper recession. that's the main feed here. i've been speaking to a lot of fund managers who have been saying what they'd like to see out of europe is stronger action. they hope the european central bank would come in with aggressive moves to buy more government bonds and also are hoping that the european leaders would come in and make a very strong commitment to solve this crisis. that is exact lit point that imf chief reiterated to reporters today. >> political clarity, that is what we need

christine lagarde support should be ideal for reforming the i.m.f. and she agreed that the economy's with a rapidly countries with rapidly growing economies need to increase that modest within b i among the i.m.f. was created in one thousand nine hundred forty five and currently its commitments amount to almost three hundred. billion dollars in loans with greece portugal and ireland the main the major borowitz. ok all teams are here to try the in the central moscow di for us thank you. well in a few minutes time r.t. here's how some of the euro zone's money woes could have been avoided if the politicians had sort of the squabbles out beforehand makes their own business news . it's twenty five minutes past eight am here in moscow you're watching the business for the r t it's been almost two decades of talks but now russia looks to have its foot in the door of the w t o the country's intro into the final round of informal negotiations to smooth out the final remaining issues a decision on russia's membership of the ship is expected by the end of this w

the head of the international monetary fund, christine lagarde says russia and china have expressed willingnesso strengthen the ims capital base and resolve the euro zone debt problems. she made the remark if an exclusive interview with nhk in tokyo. >> they want to participate in fund resources increase, if and when it is needed. i think they all also made it clear that the fund is available for the entire membership, and is not an institution dedicated to supporting the euro zone. >>> lagarde also says she wants to seek assistance from the other developing countries, saying all nations involved believe that the imf's financial stability is vital. >>> members of japan's national soccer team are traveling somewhere they haven't been in more than two decades. they're heading to pyongyang to play north korea's squad on tuesday. it's the third round of the asian qualifying matches for the 2014 fifa world cup finals. members of the national squad left the beijing airport on monday. they trained in the chinese capital for two days before taking off. the japanese team has already secured a place in t

and russia is christine lagarde first stop on a mission to the world's then coming financial power. plus a mortgage that is off speed court for the a.b.c. of super rich russian is a legal loggerheads in london the spotlight turns on shady business dealings in the past with billions of dollars at stake. well could be watching r.t. from moscow with me kevin midnight here in our top story russia's foreign ministers warn that an attack on iran would be a grave mistake with unpredictable consequences sort of a lavrov statement comes after israel said possible military action against iran's nuclear facilities is becoming more likely it is an italian overcover report. precious and firmly on that decision has to be approached with diplomacy has to be done step by step through talking numbers or intervention is acceptable russia's reaction to this comes after israel has been pushing for military intervention saying look this ticking and iranian nuclear program has to be stopped right now russian foreign minister insists that it's going to have consequences for the entire region is already so

and russia is christine lagarde spur stop and emissions of the world's our plane coming financial power ups. plus. brothers or ski court the a b. c. of the super rich russians of legal loggerheads in london with a light shown on shady deals and billions of dollars it's a. welcome your chin our team from moscow with me kevin oh it's eight pm here now in our top story for you russia's foreign minister has warned that an attack on iran would be a grave mistake with unpredictable consequences so gay lover of statement comes after israel said possible military action against iran's nuclear facilities is becoming more likely it is an italian overcover report. russia stands firmly on that this issue has to be approached with diplomacy has to be done step by step through talking and no military intervention is acceptable russia's reaction to this comes after israel has been pushing for a military intervention saying the clock is ticking and iranian nuclear program has to be stopped right now russian foreign minister insists that it's going to have consequences for the entire region is already s

director christine lagarde warned the international actors don't get their act together the world risks plunging into a downward spiral of financial instability. what response to make a thought when you're discussed with me is edward harrison founder of credit right now dot com everything so much for being here and i mean just just doing gloom all the way around basically every little thing that i read there so what do you think is going to happen right after as i mentioned here if you look at these ten year bonds or about seven percent you look at what happened with ireland with portugal with greece because italy have to ask for a bailout at this point or have to default they can't be built as you were saying that the largest economy third largest bond market in the world and so you know the other countries are large enough to be able to build them so they have to make and the only way they can make agree is basically by having someone to sustain them until. they can figure out a permanent solution and the only entity that can do that is the e.c.b. because they print money right now th

. >> christine lagarde went on to say that a lack of action could cause a global demand to split further and make countries less financially stable. still to come, long awaited approval for the iphone 4 s. and, hang on to the expired coupons. the heroes that could benefit from the deals you missed out on. >> it might be november, but hurricane season is not over. for now, it is 60 degrees . >> last week we told you how you could send leftover halloween candy overseas to our troops. we are happy to report that 300 pounds of candy, toothbrushes, and other dental supplies were collected for operation gratitude. >> in our "consumer alert," do not throw away expired coupons. they could help troops. it helps military families living on military bases. active coupons could be spent to bases in the u.s., and expired coupons can be sent overseas. the highly anticipated product review of the is granting approval to the latest model of the iphone to consumers. reception tests were conducted on the iphone four andy iphone four s. if you remember, consumer reports declined to recommend the iphone fou

christine lagarde for speaker, anyone? >> where do we go from here?oining me to discuss it is the bbc's adam brooks. are you surprised the super committee came out and said, sorry, we cannot do our jobs? >> unfortunately, not. there has been anticipation this is what would happen. the president pointed out there is no danger of america being downgraded after defaulting on its debt. he also said there is nothing else to stop congress tcoming together to find an agreement on the budget deficit, to try to stop the automatic cuts kicking in. he said he would veto any attempt to do away with those automatic cuts. there are already muttering in congress that they would like to do away with those automatic cuts that kicking in as a result of the congressional failure to agree. >> they decided to try to avoid blame each other, but is it possible to point the figure of one group over another? >> you can be sure there'll be finger-pointing in the end. there is difference over economics and whether you should have tax cuts or tax increases, to what degree you sh

also, christine lagarde, a managing director of the imf. she is in beijing at the moment. she has been living out her concerns for the euro zone. >> political calamity. it is much needed in greece and italy. very clearly some expectations and trepidation. no one really understands exactly who is going to come out as the leader and when. that confusion is conducive to volatility. from my perspective, political clarity is conducive to more stability. >> clarity is coming out from the european commission. growth coming to a standstill. >> 0.5% is the prediction now for next year. let's compare that to the spring when we saw the last of the forecasts. they were looking at 1.8% growth at that time. that is a big shift. also he said european union unemployment and would be stopped at 9.5%, nearly 10% across the european unit. -- union. these are stark reminders of how bad things are. i don't think the markets will be particularly surprised by this, because they have seen price -- they have been pricing does that news force -- pricing bad news for some time. they also said that t

well the head of the army was now visiting moscow christine lagarde earlier said that she supported the idea of reforming the i.m.f. and also agrees that quotas for the countries with rapidly growing economies should be in christe currently i'm out of commitments amount almost three hundred billion dollars in loans with greece portugal and ireland the major bore was. greece's debt continues to drag everyone else down but it will soon have a new team to try to get out of its financial corp one of the leaders agreed to form a coalition but there's no room for beleaguered prime minister george papandreou he's agreed to go and be replaced later on monday getting a pm to go was key to securing the main opposition party's involvement in just a few months to force through cuts to widespread protests. the rescues approved then step aside from the election next the coalition plan came after the pm shocked colleagues at home and the board by declaring that the drawing referendum the speculation that the finance minister could get his job and other names may also be thrown into the ring. good the

was now visiting moscow christine lagarde earlier said that she supported the idea of reforming the i.m.f. and also agrees that cool. for the countries with rapidly growing economies should be in christe current commitments amount to almost three hundred billion dollars in loans with greece portugal and ireland the major bora was. in india where disaster victims became drug company guinea pigs. tragedy thousands of survivors who were getting medication living tested on instead. is marking seventy years since one of the major turning point in the second world war with the real. parade which is to cross the red square on their way to the front to fight against. a british court is seeing two of russia's richest battle it out in front of the bench but it's no small claim six billion dollars no less is at stake. once the cash from chelsea football club. a man who usually keeps a low public profile. means britons are getting a rare glimpse into the. it's been dubbed the battle of the oligarchs in one corner is mr a estimated well fifteen billion assets for your chelsea football club and a frenc

chief christine lagarde preparing to head off to china on tuesday and is currently in moscow for talks with the kremlin. is following the visit. russia seems to be determined and willing to help the eurozone through i am up but mission with that of today reid said waited he wants these help to be to be targeted to be called for hand supposed to be to be direct and to be done through the international love financial institutions such as i am up for russia paid the last portion of its debt to the open eyes ation back in two thousand and five and since that it has been contributing to the i am up by providing money for countries which experience serious financial economic difficulties or even default as it is now the case with greece at the current euro crisis and recent developments in gray's so completely took over the g twenty summit in cannes last week where the leaders agreed to bolster the role of the i.m.f. and other financial institutions to save the euro and eurozone and one of the hopes for the euro is help coming from the emerging economies from the breaks including russia and

now christine lagarde is the now sitting at the chairman of the i.m.f. therefore i think her professional job is really to beef up the mast to make more productive on a more expensive so the set of merely full coups seen on the us the rest of europe so therefore i think the the initial object to it is really how china can work more closely was on maff. the. finance capacity of my math in the meantime to further justifiable position for china both in terms of the membership also the possible r. and b. as a denominating current state of bihar on the special drawing rights and then certain phones will be funneled to how the europe so that's a second tier of question of the moment particularly in the working man kind of ism between the i.m.f. european central bank and also the european financial stability facility so. now i think. this idea is very clear channel still wanted to express was through this meaning positive attitude and sincerity china will lend a hand but of course china will also have their own conditions to reciprocate themselves but you menti

warning that we face a lost decade because of the euro's debts europe's debts excuse me christine lagarde is following up her fundraising visit to russia with a trip to china where she's expected to woo beijing is backing for the european bailout economists there so china is ready to help give to give a helping hand but on its own terms. the initial object they have is really haul china work more closely was on maff told the. finance capacity of my math in the mean time to call for the justifiable position for china both same times of the membership also the possible be as a denominating car in say a b. han the special drawing rights channel still want to express was through this meeting positive attitude and sincerity china will lend a hand but of course china will also have their own conditions to reciprocate themselves but there has been growing concern in china over you know how the money is going to be spent i think the government will have to gave the right answer to the chinese people because because it's their tax dollars the investment should be targeted more to the valuable asse

was no visiting moscow christine lagarde earlier said that she supported the idea of reforming the i.m.f. and also agrees that quotas for the countries with rapidly growing economies should be in christe the international monetary fund was created in nine hundred forty five and currently i am i have commitments amounts almost three hundred billion dollars in loans with greece portugal and ireland the major borowitz. chaos he's got a rich over in central moscow ny for us here frank you. brought us to the head for you this hour where in india where disaster victims became a drug company guinea pigs. chemical tragedy kill thousands and survivors who thought they were getting medication when he tasted it instead. and that is lifted on the rise of one of russia's richest men will move it sharpens up in london courts to defend himself but outside the recent exhausted. afghanistan's burgeoning drugs production is being blamed on soviet forces from three decades ago according to an american reports that's in spite of statistics are in the open ministry has soared since the us led invasion in two

christine lagarde said today again that she supported the idea of reforming the international monetary fund and she also agreed with the fact that quotas for the countries with the rapidly growing economies should be increased the am f. was filmed in nineteen forty five and currently i'm of commitments amount to almost three hundred billion dollars of funds and the major was at this point are greece portugal i'm. ok well thanks very much for bringing us up to date there are. live from central moscow thanks. well it's a greece's debt that continues to drag everyone else down but it will soon have a new team to try and beat it out of it's for national quagmire after leaders agreed to form a coalition but there's no room for beleaguered prime minister george papandreou and he's agreed to go and be replaced later on monday getting the prime minister to go was key to securing the main opposition party's involvement they've got just fifteen weeks to force through cots which widespread protests once the e.u. rescue is approved step aside for an election next february the coalition plan came a

chief christine lagarde preparing to head off to china on tuesday and is currently in moscow for talks with the kremlin got that he joins us now live with all the latest look at that what exactly is the guard looking for a to achieve in her visit to russia as head of the i.m.f. now. during these financially turbulent times russia can all for the i am of the european union what it now needs most money russia paid the last portion of its debt to the international monetary fund in two thousand and five and seems that it has been contributing to the organization providing financial support to countries which experience serious financial and economic difficulties or even risk of default as it is now the case with greece recent developments in this european country and the euro crisis in general. took over at the g twenty summit in cannes last week where the leaders agreed to bolster the role of the i.m.f. and other financial institutions to save the euro and euro so a lot of the hopes for the euro is coming from the emerging economies from the so-called brics countries that is brazil russia

and russia is christine lagarde spurs stop on a mission to the world's top ten coming financial powers. uncertainty looms on global markets was swinging between gains and losses as the greek prime minister steps down in france and italy struggled to solve the budget deficit more on this in business all to twenty. plus our remote village core the a.b.c. of the super rich russians of legal logging heads in london with a light show on the shady deals of billions of dollars at stake. welcome you're watching r t from moscow with me kevin oh into night it's nine pm here in our top story for you russia's foreign ministers warn that an attack on iran would be a grave mistake with unpredictable consequences so the level of statement comes after israel said possible military action against iran's nuclear facilities is becoming more likely. than later. but she stands firmly on that this issue has to be approached with diplomacy has to be done step by step through talking and no military intervention is acceptable russia's reaction to this comes after israel has been pushing for a military interve

well the head of the our math was now visiting moscow christine lagarde earlier said that she supported the idea of reforming the i.m.f. and also agrees that quotas for the countries with rapidly growing economies should be in christe currently i'm out of commitments amount almost three hundred billion dollars in loans with greece portugal and ireland the major borderless. well that for more on this we can talk now to our business editor nick poole here in the studio so what's the god hoping to achieve by coming to russia when he would carry money quite a lot of it. is looking to double its funds to around knowing one hundred million dollars and you need to go where the money is in a sense that's russia do you think she'll get what she wants then russia said it's prepared to contribute to extra money to the i.m.f. clearly a lot of this money is for europe or is needed more for your. north not keen on directly bailing out your people to do it through your i.m.f. through an established mechanism and it said it could previously up to about ten billion more dollars if that happens what will

and russia is christine lagarde its first stop on admission to the world's top ten coming financial powers . plus a mortgage credit is off ski caught the a.b.c. of super rich russian is a legal heads in the spotlight turns on shady business dealings in the past with billions of dollars at stake.

that touches on a couple of things you talked about the slow growth we're just hearing christine lagarde head of the i.m.f. say the global economy may be headed towards a lost decade now we've heard the last decade comparison between the united states comparing the us to japan's last decade i know that's one that you subscribe to as far as christina started saying that about west. about the global ican. what some people read to mean the western economy do you see it possibly headed for a lost decade oh i think i think we are certainly we're already halfway there growth over the last five years in europe the us and japan has been very close to zero on the whole i think a lot of there's a developing countries are continuing to develop which is a positive development for india and china when you're going to continue to see is that as china and india develop and they need to develop it will put upward pressure on gasoline prices and commodity prices and then you'll have developed countries central banks like the e.c.b. like they did earlier in the year responding to these commodity price inf

that risk you say you're not going to go into the irony but i think it's worth mentioning christine lagarde chief head of the i.m.f. is in latin america right yes talking to them asking them for help asking them to get on board latin america certainly not really ever having that role certainly in our lifetime that we can remember i think that important. but i do want to talk about no matter who steps in to help out no matter what happens it appears to me that whatever country is bailed out or helped out is going to have to make some major changes changes that could really affect their economies their lifestyles we saw in greece these austerity measures being imposed what will the results of major austerity measures in places like italy what will happen well i mean obviously i'm not a fortune teller but if greece is any indication we've seen yet. i mean it hurts and cripples average people i think one woman put it so well in an interview she said that we have a london prices on you know far far below greek salaries i think but she said bulgarian salaries so you know essentially you just see

how bank runs you know a depression would ensue so are you agreeing that when it comes to christine lagarde who's currently jetting around the world saying that there is a very big downward spiral that's headed for the global economy that's at risk here and what is she you know she's she's been speaking to russia she's been speaking to china saying that this has to be a global effort so what exactly to she expect will it's interesting that she said basically it sounds to me like she's saying you know the europeans they can't get it sorted out because of their institutional fragility is there for you other guys china russia. to you've got to get in there and some would help out the europeans because italy is just too large to fill and we think as long as they. go through these austerity measures etc whatever it may be they can get over the whole i don't even think that they would be able to get over the hump the reality is that austerity makes things worse if they continue in the same path that they're on the economy is going to go to. europe is already in a double dip recession right now yo

christine lagarde said the emergency fund only amounted to 285 billion euros. where are they getting the money from? essentially where is the money coming from? they don't have it at the moment. >> let's focus on italy. would you -- reading between the lines of what you're seeing, italy and the worries about italy, within the european debt crisis front and center? >> absolutely. italy, belgium and germany. german ten-year bond yields at 2.3%. last week a 1.8%. so there is a concern that the crisis is spreading to the core. this talk about euro bonds. if germany agrees to euro bonds, the yields will go up anyway. there is definitely a concern about germany and more than that, a concern about growth. growth forecasts are being downgraded. deutsche bank downgraded european growth forecasts for next year. >> michael, big picture stuff. we've seen the market essentially take a pounding since about july over this european debt crisis. are we close to a bottom on this or do you think we could actually see significant further falls in terms of stock market falls? >> i

we're at a dangerous period, like christine lagarde from the imf said, we're at a crisis period.use, your economic ability, whether to send your child to college, it affects everything. there isn't a part of your everyday life that isn't tied to what's happening in the world crisis fatigue, i think it's set in. but i'm here to tell you, we have dangerous territory ahead. we hope the world's leaders act in the appropriate way and mitigate the fallout as best we can. >> i'm going to go find a bridge to jump off. >> no, carol. look at the sunset off that bridge, look at the sunrise off that bridge. we put one step ahead. information makes you stronger and smarter, carol. >> yes, that's true. okay. we'll talk more in 20 minutes. thanks, christine. >> bye. >> putting americans back to work, treasury secretary timothy geithner says america are doing better than we think. we go one-on-one with him, next. first, time for your get smart question of the day. what do you think will be the average price for a fresh cut christmas tree this year? is it "a," $36.12, "b," $56.75 or "c," $110? 39

happened since 2008 and we are kind of getting numb to all of this but we are at a moment now, christine lagardend, she gave a speech this morning where she said if we don't get this right, we run the risk of having a lost decade for the global economy. and lost decade, when you talk about economic and economics and markets and global growth terms, is real -- it is just horrible. it happened to japan, when you've seen too much debt and not enough growth and you just can't get out of t she also talked about sort of this negative feedback loop, of confidence is lacking in some places, you can't fix the problem with the debt because the political processment is working correctly. >>> it is all tied in together. i want to ask you because your book called requests how to speak money," you co-all the it with alley vel ship. the economy could be bad but as long as you have a job, you feel you are okay, there is some hope, maybe you can hang on but it is all intertwined. there is an official list of -- 9 % of americans are listed as unemployed and underemployed, their checks are running out. what is the