think they'll be an event that triggers some kind of dramatic turnaround as we had with the lehmann brothers bankruptcy for instance the european banks that have a substantial amount of greek debt they're well know the governments know about it and so in the event of a greek default event there already are expect contingency plans in place which they work with lehmann brothers and they work with a high g. so you mention that you don't expect to see a crash but october has historically been a big month for the markets so what do you expect to see maybe another slide as you put it since not a crash or. i don't see at the moment i think that the markets are already pricing in a recession and we don't see a recession at the moment we see in the developed world in europe and the u.s. growth single all just positive territory and in the emerging world in china or india continuing to power ahead at seven eight percent so i think the markets are already more personally stick or central view of where the economy is going you know august is often a month in russian politics but this all has nothing ha

taxpayers' money and this is exactly the sort of problems we had in two thousand and eight with lehmann brothers portugal's broke greece is broke all those groups be broke. the french are talking a good story but if you look at the numbers before and three no better position it's afraid of currency project currency is a fall you're. the world i'm a little bit surprised it's taken so long. for italian bonds to be downgraded and i tell you something else if i may this is been a political project from the beginning and i would have the people responsible incarcerated in jail at this very moment the euro has been about politics since the very beginning the c.p.s. of was no lender of last resort except the taxpayer and the taxpayer is already rappelling they simply can't go warm this project has no political democratic mandate it is doomed to ended in tears it's just a question of exactly when before christmas or after christmas. the greek debt crisis however a bad may turn out is unlikely to affect russia's economy that's the view of russian finance minister i would say quadrant they watch an exclus

taxpayers' money and this is exactly the sort of problems we had in two thousand and eight with lehmann brothers with getting exactly the same route the difference is that they're not junk mortgage problems for the united states they are junk sovereign bonds and i made the point to mr tracy only a few weeks ago but he's following exactly the same as we did in two thousand and eight and i see no reason for the outcome to be any different he's saying this is a contagion that could spread further across europe. how can it not how could it not. portugal's broke greece's broken limbs broke spain suddenly broke. the french are talking a good story but if you look at the numbers the french are in no better position if you look at the numbers you'll see that the french three bailouts that they've agreed is roundabout the equivalent to two thirds of entire year's french income tax this is going wrong as it was always bound to do it's a failed project it's a frail currency project fear is a falling across the world gold isn't rising people think gold is rising fear counts as a fall ing and i tell you some

european debt crisis is more of a threat to the global economy than the collapse of investment bank lehmann brothers in 2008. soros also said the united states is already in a double-dip recession... blaming the republican party's opposition to president obama's jobs and tax policies for steering the economy away from recovery. meanwhile... the leaders of korea, the united kingdom, australia, canada, indonesia and mexico have sent a joint letter to the g20... that calls on euro zone countries to act swiftly to resolve the euro crisis. the letter urged all european economies to confront the debt overhang... to prevent it spreading further afield. kim nari, arirang president lee myung-bak has arrived in seattle,... on his way back to korea... from the un general assembly in new york. upon arriving,... president lee held talks with the governor of washington... and met with korean residents there. our yoo ji-hae, who's traveling with the president,... files this report... from seattle. president lee myung-bak arrived in seattle thursday, local time... after wrapping up his three-day stay in new york...