the bankruptcy of countries in southern europe, an international debt default crisis, a double dip recession in the united states, unemployment over 9% and the possible collapse of big banks on wall street. 35 years later and here we are; a global recession induced in large part by soaring oil prices, the bankruptcy or near insolvency of countries in southern europe, bank failures and bailouts at home and abroad, the united states economy on the brink of a double dip recession, unemployment over 9%. george santa yang that's warning to future generations is more relevant than ever before, those who cannot remember the past are condemned to repeat it. parallels between the earlier period that is the focus of my research and our own time most vividly during my recent stay in greece where i wrote "the oil kings." in may 2010, the day after violet protests in athens against the government austerity package, i walked through the center of town past burned-out buildings and vehicles trying to comprehend what had obviously gone so badly wrong for the greek people. it seemed incomprehensible that the

in the southern europe is where europe in asia meet the landscape seems to absorb the best of what nature has to offer on both continents that is the place this place is surrounded by three nature reserves and three mountain ranges. move the front. a little bit higher. pull this bit back all the other to one of the most of these twelve tourists. this is the first tory they have ridden the whole. yes there is a group in a ten man group only one has ever been on horseback lessons of us remove three of our job is to teach people how to saddle brush and bridle horses. just this movie is the starting point of a tourist route to the republic's most famous sites. it will culminate in. the highest mountain in the region. but before these tourists will take a trip to examine ancient cabins in tents. the best caves a. major waterway. guys let's make a break. only one of them right now we are on the horseback track of the route for the well in six days we will head back to base. but some members of this group will then go rafting. and experience. to visit this place as. the conditions for a deal not

this kind of could i grows only here in the southern europe this is where my people live. lives here too they may have played such instruments fashions of years ago. it's said to go to the forest to inspect that beehives. they are some of the few for the keep up the tradition of wild honey. bees bees produce highly valued honey. there are twice as many enzymes in wild honey as there would be in bee hive honey where the enzymes account for only sixteen percent. of. wild honey do not use any special equipment. trunk of the tree is a length of rope. gathering wild honey is a treacherous. there are two men to a team in case one of them has an accident. i broke two bridge when i fell off the street for the first time. i became a wild honey farmer in one nine hundred ninety two after my father retired having worked here for twenty years. but. my legs trembled during my first climb. but now it's just routine. in fact the local species of birds and b. is just a symbolic of fresh kid as the cooler i is these bees produce the salt off the honey. this is the first toilet inspection o

if southern europe is not going to grow, this is seen in the u.s. and everywhere in the advanced world, you cannot balance the budget. you can cut as much as you want but tax revenue will be low and the mandatory spending will be high. they are lecturing them and said that you have months to figure out your problems in spain, italy, ireland, wherever. why didn't you cut your deficit? if they are shrinking 3% a year, they will not be able to cut the deficit. >> thank you for joining us. >> thank you. great to see you again. >> the u.s. is not the only country anxiously watching tomorrow's g-20 meeting. european leaders have asked china to help finance the greek bailout. this prompts the question, can beijing help to rescue the economy? china is flush with cash from export surpluses. it might not be so keen to play the role of economic savior. >> the peaceful canals, not quite. this is china with enough cash to recreate gondolas in a shopping mall. europe is hoping that china will sail to its rescue. the problem is that china has said that it will not

the southern europe is where europe in asia meet the landscape seems to absorb best what nature has war from both continents but is the party these places surrounded by three nature reserves and three mountain ranges. move the front. a little bit higher. all this bit back over to one of the most of these twelve tourists. this is the first tory they have ridden a horse. this is that group in a ten man group only one has ever been on horseback less of us or more through our job is to teach people how to saddle brush and bridle horses and. just this movie is the starting point of the tourist route to the republic's most famous sites. it will culminate in a sense of mouth shut the highest mountain in the region. the for these tourists will take a trip to examine ancient cabin in the camping out in the tents along the way. the base caves a found a link for the belly a river best care is a major waterway. and guys it's make or break. the only one of them right now we are on the horseback track of the route work that will in six days we will head back to base. but some members of this group go

it's of whether the countries in southern europe will essentially a loss of sovereignty to give up some of the fiscal abilities that they have in order to stay in the union it's about a host of these political issues and whether the countries in the euro zone have the will to keep it together or not and i don't know that time really is a factor there it's more political will and whether they think it's right for their country and and that's that's really an open question. and one of the things that keeps being brought out as well as the idea of perhaps the i.m.f. helping out and you know lending quite a bit of money to this european bailout fund but that would require probably a lot of political will here in the united states too so you think that's just wishful thinking. it's a possibility and it was it was certainly floated today as an option that the i.m.f. would would step in on the european bailout fund but the european bailout fund they've paid basically peddled to every country on earth and of course the i.m.f. is made up of every country on earth so it's just sort of ano

it's wrong it's not going to work because there's still too economic imbalance between north and southern europe and it when the grants it's a political nationalism. the big focus of course on greece that's the one that's heading the line of countries destabilizing the eurozone right now and it's in athens that a new coalition unity government being formed to try to tackle the debt crisis there it comes after weeks of political chaos that's put greece's membership of the euro in jeopardy promising george patton dreher is now going to step down with his replacement due to be announced any time soon the new interim government will lead the country until elections they're expected in february next year and the government's main task will be to approve a one hundred fifty billion euro emergency rescue package that was reached between european leaders and there are now concerns of course as well that it's only is on its way to becoming the next victim of europe's debt crisis i suppose economics on this next crackers have told me that you need drastic reform if it wants to survive . i think it's about

strong it's not going to work because there's don't the economy can bite as we see north and southern europe and when just the gretz it's a political nationalism. well it's greece that has a lot of countries destabilizing the eurozone with a new coalition to give it a government in athens to topple the debt crisis that weeks of political chaos have put the country's membership of the euro in jeopardy prime minister george papandreou has agreed to step down with the country's new leader unlikely to be known on tuesday the interim government will rule until commentor elections expected in february it also has to come up with a recent commitments to honor the deal struck with the eurozone leaders in october which requires more savage austerity cuts and after that greets should receive its next vital eight billion euro bailout installment without which the country will go bankrupt in. an economics analyst and the trekkers says that instead of coming out with short term measures to cope with the crisis the us and needs to think of fundamental reform. i think it's about time that the political sys

in southern europe, the markets reacted aptly enough, headed further down south as you can see. they've been recovering in today's session just a bit. ftse may be gaining 1% in the first hour of trading.ç and in greece, which is facing the similar combination of political uncertainty and financial crisis, investors on the athens stock exchange losing patience with dragging talks in forming a new coalition government. the athens stock exchange rebound together tune of 2% for the moment. >>> after enjoying what's being termed berlusconi bump, 7 1/2% has been proving that the impend ing departure of the italian prime minister is no guarantee of a brighter future. stocks took a battering, pulling hong kong down by the most among these major markets. hsbc suffering on all three counts on the one hand with italian debt exposure being compounded by a drop in profits. it ended the day down nearly 9%. investors are looking -- those investors that are looking for reassurance are not getting those, it seems, those tasked with the process. christine lagarde has warned of a lost decade if t

over the longer run, they will have to address what the growth strategy is for southern europe. if europe is not going to grow, without growth, you cannot balance the budget. you can cut as much as you want, but tax revenues will still be low. the mandatory spending is going to be high. they are lecturing them and saying that you had months to sort out your problem in spain, in italy, in ireland. why did do not cut the deficit? >> thanks very much for joining us. >> thanks. a great to see you again. not so far from america to athens after all. the u.s. is not the only country anxiously watching the g20 meeting. european leaders have asked china to help the bailout. ken beijing help bail out the u.s. economy? china is flush with cash. according to reports, it may not be so keen to play the role of an economic savior. >> the peaceful canals of venice, not quite. this is try not, with enough cash to recreate on the laws in a shopping mall. europe is hoping that china will sail to its rescue. the problem is that china has already said that china will not be europe'a savior. the count

over the longer run, they will have to address what the growth strategy is for southern europe. if europe is not going to grow, without growth, you cannot balance the budget. you can cut as much as you want, but tax revenues will still be low. the mandatory spending is going to be high. they are lecturing them and saying that you had months to sort out your problem in spain, in italy, in ireland. why did do not cut the deficit? >> thanks very much for joining us. >> thanks. a great to see you again. not so far from america to athens after all. the u.s. is not the only country anxiously watching the g20 meeting. european leaders have asked china to help the bailout. ken beijing help bail out the u.s. economy? china is flush with cash. according to reports, it may not be so keen to play the role of an economic savior. >> the peaceful canals of venice, not quite. this is try not, with enough cash to recreate on the laws in a shopping mall. europe is hoping that china will sail to its rescue. the problem is that china has already said that china will not be europe'a savior. the count

than elsewhere in germany that's why northern europe have been the winner right here as and the southern europe has been basically impoverished. thank you thank you very much. seen as to the region where technological breakthroughs save human life. are to goes to the seek. ways to protect. where farming pioneers place local cuisine. and where future development depends on the way. coast should close up on hard. market. the global economy. global financial headlines. and mission. going to take three. three. three. three three. three . absolute zero in r t a russia sounds the alarm over these role saying it could soon bomb iran's nuclear facilities moscow's warning any such move would be a serious mistake with grave and unpredictable consequences. after nato spied for democracy in libya the country's new chopper showing a surge and radical islamic strict sharia law and all cargo flights in evidence there from washington it seems i'm concerned about what's next now gadhafi is gone . and two russian tycoon titans are slugging it out over six and a half billion dollars and their reputations at londo

than elsewhere and that's why northern europe have been the winner writes the euro zone and the southern europe has been basically impoverished by. thank you thank you very much. closer. to the. technological breakthroughs save human lives. our team goes to the sea. ways to protect. their. place local cuisine. for future developments depends on the way. russia's black sea coast should close up on hard. british. markets. find out what's really happening to the global economy with. global financial headlines kaiser reports. mission. cretaceous three. three arrangements three. three. three. three blog video for your media. free media. tom. absolutely zero an r.t.o. russia sounds the alarm over saying it could soon bomb iran's nuclear facilities moscow's warning any such move would be a serious mistake with grave and unpredictable consequences. after nato spied for democracy in libya the country's new chopper showing a surge and radical islam with strict sharia law and al qaeda flags in evidence there but washington seems unconcerned about what's next now. and two russian tycoon titans are slugging

we have a lot of new faces in southern europe, but we still have the old problems. >> we have two american-trained economists taking over at a moment of great peril in their economy. will they be able to implement painful austerity measures and convince the markets they are able to do it? that is an unresolved question at the moment. >> they have to convince their own population. one lesson we get from greece is you cannot carry your people, the government will fail. >> absolutely. now we have the unity government in rome and athens to smooth over some of the problems. they're coming together to implement the austerity measures. we already see trouble on the horizon in rome. the powerful league has decided not to participate in early talks. we already see that there is a problem. >> can democratically elected governments and politicians is possible to their electorate implement the kind of austerity measures being demanded? >> we are seeing a repricing of the social compact between government and europeans. there will be extraordinary pain and sacrifice involved. european political leaders have to

elsewhere in germany that's why northern europe have been the winner of the euro zone and the southern europe has been basically impoverished by. thank you thank you very. seen has been to the region where technological breakthroughs save human life. party goes to the seat. the unusual ways techniques. where pioneers place local cuisine to the highest pitch. and where future developments depends on the way. russia's black sea coast should close up on hard. a very warm welcome to you this is your news today protesters on the walls. they have. ladies and gentlemen good to chooses it's a good book the status of the human experiments good. business rap music awards it goes to movies lately trying to censor global economy and it's on changelings us find. a link to maintain our confidence in markets and. wants to be seems way to balance his recession looks to be the nation's close to collapsing of some close. some fail circulate sinkin feel like things the us crash and seven. teams. in the classes and the spokesman just programs increase the total economy. wealthy british style. market. come to. fi

scale than elsewhere and that's why northern europe have been the winner writes the euro zone and southern europe has been basically impoverished by. thank you thank you very much. has been to the. technological breakthroughs save human lives. our team goes to the sea. the unusual ways to protect. their. place local cuisine. for future developments depends on the way. russia's black sea coast should close up on our t.v. . a very warm welcome to you this is your news today protesters on holds true today at. least in canceling your chance to choose isn't a good move for example the status of the human experiment is exploding with thirty weeks you'll probably isn't this rap music would expose the military trying to censor global economy and its arcane trains us financial templates each of the researchers clambering to maintain our confidence in long kids and thinking on the primitive wants to be seen trade imbalances recession looks to be nations close to collapsing a subprime loan foreclosed homes people. to fail switchblade banks again feel level like thing is us crash and imminent smash the ceili

thought to bring is there a red line beyond which germans to say we're not going to bail out southern europe anymore or does germany have a historic bit to europe has from. been digging about depth i'm not against discussing a red line the problem is that if you start to talk about a red line then you'd eventually have to be correct. interested both politically and economically in a functioning europe at doj that have economic interest as easily as forty percent of our export goes to the european union and beyond if those countries are hit by a price is germany or secondly or the lesson we learned in the past and our prospects for the future dictate that germany is not strong enough geopolitical to play a significant role in a game where the u.s. is one superpower and an asian leader. in this case china is the other new european students and the only one thousand you are going to take a noble like that if that's why germany is interested in him knighted us out just for not just because of the past or theater for the sake of our senses and its future after two conference a lot of being to sma

than elsewhere in germany that's why northern europe has been the winner writes the euro as in southern europe has been basically impoverished by. thank you thank you very much. from los angeles to chicago to birmingham twenty trauma centers have closed since two thousand severe problem is not enough inpatient beds not enough urgency department beds and not enough nurses commandos there to take care of all the people who are the only real health care system that we have in the city of los angeles is the los angeles fire department in fact when i started my venture is a firefighter i didn't want to be a mask i started out going to just do fire fighting it's about eighty two percent of what we do the fire departments medical i've had a rescue couple weeks i waited for hours for a bit i've waited sometimes three hours i was it's a same francis and we went for four hours and fifty minutes staring at a wall of patients and we have a federal law that mandates that you can't turn no one away who seeks care in the emergency room. we have the most. spencer healthcare system in the world and it's probab

than elsewhere and that's why northern europe have been the winner writes the euro zone and the southern europe has been basically impoverished by. thanking thank you very much. closer to the. technological breakthroughs save human lives. our team goes to the sea. the unusual ways to protect. their farming pioneers place local cuisine. for future developments depends on the way. russia's black sea coast should close up on high. a very warm welcome to you this is your news today protesters on the. streets they have to. leave the sentence a good chance to try to get with the status of the human experiment. to see if we pursue a business run. those movies literally trying to make sense of global economy and it's all changed things in us financial template. to maintain our confidence in long kids and. wants to be seen trade imbalances recession look even the nations close to collapsing in some foreclosed homes. to fail so we played the game feel like thing is a us crash and imminent. change. in the business and the i.m.f. strikes me i'm just programs increase the total economy. bringing you the lat