many say that russia actually researched out of the global financial crisis better than other three rypien countries what kind of advantage does it give us now the huge huge market potential development i was put it that way many people say that we have a blessing of oil and gas or natural resource my private opinion it's not a blessing it's a kiss. because that blessing doesn't motivate you to diversify what makes you so sure that he will make the break now it's been taking so long. well diversifying a huge economy such as russia's it would never take you a couple of years older you shouldn't expect miracles that are quite a number of regions in russia who are still under the pressure and it depends not only on the federal government it depends hugely on the local government eager to really attract investors are they making the investment climate very predictable. defended from the some sort of floor important agency is still the justice system is not very effective corruption. that's about it that's the basics negative points which we still have to mend to clear up. those speaking about

of money on the lower middle class if this goes too far then you get the situation we have in the rypien union where it brings the whole system crashing down so putin has a lot of different voices to listen to when the ones who are marching up and down every we can go and around twenty same twenty thousand people marching around in a circle are not necessarily going to be the first ones to be heard ok demon marching around in a circle i mean it's an interesting point here i mean what's your take on the do you think the authorities are reacting in the best appropriate way to to this new civil movement and run a little which i think everyone on this program here welcomes the problem is that it's very difficult to react to it because in fact inside this protest movement you have three very different groups you have leftists. which eric just very clearly pointed out that you have also liberals who are for less social occasions people like me wolf who has inside his group of the democratic choice also libertarians people who don't want to make any social occasions so you have leftist you have

happening in europe and here in the united states they're pushing for the same sort of austerity that's rypien entire cotton apart just across the atlantic joining me now is mark weisbrot economist and co-director of the center for economic and policy research and max fraud wall economist instructor at the new school university and senior analyst at green k. capital welcome to both of you thank you for joining us tonight thanks great to be here thank you thank you thanks mark what's your take on the spanish bailout to what extent is this spain versus beans banks well obviously they are giving money to the banks and the spanish people will pay for that because it's going through the government it becomes part of their debt but the bigger problem really is the recession itself they've got you know twenty five percent unemployment or about fifty percent youth unemployment and the economy's getting worse and they're cutting the the budget they're tightening the budget and that's rinky the economy further they just cut while i was just there actually a week ago and the the government just passed a