he's never been in spain.'s coming here to be a tourist for one day and tomorrow is going to amsterdam, where he is going to keynote an international baptist convention or congress or whatever of some sort. i said well okay. the ambassador gives me his plate number. so i call the airport in this flight had already landed. i'm supposed to be looking after him. i don't have the foggiest notion where he could eat. there's 500 hotels in madrid and i don't even know she's staying in a hotel. even if i call 500 for most people help me, i don't even know. he might be staying with friends or something. i have no idea. i'm really scared because i screwed the thing up already, even though it wasn't my fault. by the time the ambassador called me, the plane had landed. so, i started to call hotels and i don't know why i didn't call this particular hotel first. it is a hotel closest to the embassy. the embassy on trends unfair on us treat and behind it is the main drag in madrid and on the other side is that helped him. it

in a decade prior to 2007, spain had been the booming economy of europe. at one stage during the previous decade, nearly half the jobs created in europe were in spain alone. that brought in a huge amount of immigration. now we're seeing the other side of that. which is the immigrants have lost their jobs and the workers have lost their jobs. and in spain also there was a difference between those with permanent contracts with strong employment protection and the great bulk of people who are being employed on what's being called temporary contracts. they chopped down. we haven't seen that in the u.k. where the unemployment really hasn't reason as a result of such a deep downturn. >> is that the key factor given that we have had unrest in the past in bad economic times? do you think this time it's the unemployment figures that have made the difference? >> it clearly made a big difference because it shared the burden where whole industries would be wiped out or close to wiped out like the coal and steel industries in the 1980's. there was a focus for decent, a

those stories and others on our website at the moment thousands of people have hit spain's streets to protest against the government's ever growing a stir people are outraged by cuts to health care education and pensions with anger also directed at changes to labor laws there's now talk to crisis strategist. he was saying coordinated action across the whole of spain thousands on the streets angry at the government's policies just how realistic are the protesters demands. there are unrealistic because spain is the eurozone especially as euro zone is on the path to insolvency and one could argue that spain is one of the countries that is essentially broke if not in actual fact so i think it led to the cut and have to start cutting somewhere because the debts are just breaking the spanish economy and it's going to get worse so my sense is spain has been living for too many years with too mild many benefits to get people shut social benefits social programs that are simply untenable in the long term and now that we have had this economic downturn that have shown up the fact that the euroz

we can see that greece and spain mainly because. instead of. being able to work on our. ways to go out of crisis getting you know what's the solution these of course he's against the interest. of people can't well or these very issues and example they decided not to use. odious states in international law loans moultrie paid because taken against the interests of the people equate those debts repayment was. in favor of linda's like us chase bank president karimov declared it odious the billions saved doubled spending in hospitals and schools. as far as you could see into the future they were going to keep paying debt but would never reach a situation where the country actually benefits from the foreign capital. greece's most popular pulse isa resources already declared the national debt odious if it wins the next election it won't repay the banks we're joined by michael hudson who advises countries like the us on economic policy professor is greece is that odious rate or minister radio your it goes up well wait a minute or if you're going to want to see it really surrend

it's a live portugal greece and spain have. full blown still colm syndrome finds the study hosted to crippling that bankers coerced full of the loans and dependency and a terrifying twist the state's so called risk of the same as the host each take has first great premier papademos then it's a multi. multi national bank was forced into power don't call us and thing us develop the theory he joins us now why did you call it that. is seen because i can see there that governments are kidnapped by the s because late because i t they copied. and. they are not defended that. we can see that greece and spain mainly because. instead of. being able to work on our. ways to go out of crisis they are getting deep and you know what's the solution these of course he's against the interest of. people can't well or and he's very use and example they decided not to use. debt odious it's international law loans moultrie paid because taken against the interests of the people equate those debts repayment was loaded in favor of lenders like us chase

portugal greece and spain have. full blown still colm syndrome finds the study host to just a crippling bit bonkers coast full of the loans and dependency and a terrifying twist the state's so-called risk of the same as the host each take has first great premier pop at the most then it's a nice moment to see. multinational because for stints of power don't call us and thing us develop the theory he joins us now why did you call it that. is seen drum because i can see that that governments are kidnapped by b.s. because late we could achieve this kind of people and. they are not defending that . we can see that greece and spain mainly because. instead of. being able to work on our. ways to go out of crisis they are getting here was the solution these of course he said gains the interest. of people well or in these very issues and example they decided not to use. odious states in international law loans moultrie paid because taken against the interests of the people equate those debts repayment was loaded in favor of l

is focused on the top four banks in spain. and a report an independent report commissioned by the spanish government back in june found that while they estimated that the banks would need sixty two billion euros to rescue the banking system and of course many thought at the time that the figure was quite conservative. of course since since. the summer the situation has deteriorated in spain. whereby unemployment has carried on rising loans having crease now to a record of close to eleven percent of outstanding loans and one would expect that the situation will deteriorate so yes i think this will be the first of probably more of them more than one tranche one indeed you mention the employment there already more than twenty five percent in spain is this sustainable. well the situation is deteriorating especially youth unemployment under. twenty five year old says believe around fifty four percent which is a disastrous figure and the situation is likely to get worse before it gets better if this is disastrous then as you say is

people in spain say their dignity is at stake a little later this hour on how pension a student has in their thousands protesting against government sturdy across the country. also come time for action in the wake of the newtown tragedy the u.s. president is ready to back a ban on assault weapons the details on that and plenty of other stories after this break. if you just love me enough and knows that to ride a horse you've got to. catch it first. for him it's a daily routine that just softens a force on the island of a horn at the heart of. his life on an isolated farm is about blue sky green grass and horses what sometimes it gets lonely here but horses have become part of me now i've fallen off so many times sometimes. it's part of my every day like. i home suburban home rats like me just laugh for centuries most still live off the end of cattle and fish. if my call is often called the pearl of siberia and i said to be the pearl of by. it's all end of think forests. and vast staps. virtually undiscovered by tourists until some twenty years ago i haunt us quickly becoming a magnet f

that final question is spain any closer to winning the final big bang. for the country do you think or is this going to avert it now. i'd be surprised if this is the final bailouts. i think there are a lot of problems in many countries that we have no clue yet exists. i think there's going to be a long line of bailouts and the question is can can we keep paying for them i think there will be a time when there simply won't be enough money for the next bailout when that happens then policy change it's something similar that happened in new zealand in the eighty's they ran out of money and as a result they have to talk back government spending as a subsidy you have to bribe the ties but that's one incident started booming and that's when it comes to the growing again that's what has happened here as well we need to run out of money first the government run out of money before it will change its policies unfortunately because the european union is very big and a lot of countries have a lot of money it's going to take a long while for this to happen a slow de

already half of the young people in spain are unemployed.s a result, some spanish girls are even willing to risk their health to earn a little money on the side. >> it was not an easy decision, but anna has decided to become a paid a donor. she will help infertile women become mothers. in return, she will receive 750 euros per donation. that is a lot of money for the chemistry student. >> it is not a regular monthly income, but it is enough to help the family that urgently needs money. in my case, i needed to pay the registration fee so that i can keep wking towary maer's degree. >> donating eggs is legal, and an increasing number of women in spain are doing it, including here. the clinics pay up to 900 compensation and expenses for the examinations, hormone treatment, and egg extraction. anna needs the money. though she is 26, she is almost too old. this clinic is looking for even younger donors, and it has plenty of applicants to choose from. >> every day, we get calls from two or three women who want to donate eggs. we now have a list of

in fact when the we have this what's happening in greece spain. and portugal when this singer hits the norse in european countries any it will inevitably maybe north german maybe not germany because germany has a very sound economy they have their export malled all they're doing is strategic alliances with russia in terms of oil and gas they are sustainable but the rest of europe with exception of germany and scandinavia is not then we going to have sort of. movement inside western europe as well and this is going to happen within the next few years all right gentlemen because the model itself is unsustainable going to jump in here we're going to go to a short break and after that short for a book continue our discussion on the west stay with our. for. thousands to see. other. stated. goals. to be drawn. i think that in this country metallurgy as an environmental cost which is an acceptable local business because labels are legal and controlled by criminals in order to protect our lives our families and to work in peace. we are forced to pay prote

is graphic anybody in europe is more complicated for instance i have ours lots of friends in spain my son lives in barcelona for that matter so i'm in close contact what's going on inside spain unemployment rate for the new generation the google facebook generation now is fifty percent so even if you go to a good school or even a technical school. it is in spain our stores there's no jobs so the solution for them is to immigrate to south america over here you know any in europe is more complicated have parts of germany which have some of the best standard of living anywhere in the world you have northeastern italy for instance which has a tradition of small and premiership to a small. confectionery. making clothes gucci style in florence or making food in bali and export all over the world but is they've been doing that for a thousand years or so and then you compare it to rome maples in southern italy it's a total disgrace day themselves to say that they live in africa and in fact so this is the problem is the inequality inside the western capitalist system and this inequality is bei

in fact when we have this what's happening in greece spain. but. poor to go when this single hits the norse in european countries any it will inevitably maybe north german maybe not germany because germany has a very sound economy they have their export mall though they're doing a strategic alliances with russia in terms of oil and gas as well they are sustainable but the rest of europe with the exception of germany and scandinavia is not then we're going to have sort of he. movement inside western europe as well and this is going to happen within the next few years all right gentlemen because the model itself is unsustainable right gentlemen to jump in here we're going to go to a short break and after that short for a book continue our discussion on the west stay with our. mission. could you take three. three. three. three. three. three vote video for your media project a free card. gold fever. turns thousands into slaves. my father but also among brothers involved in the mines and since i started working in a mine i stated i look at it and feel m

in fact when we have this what's happening in greece spain parts of italy but. portugal when they sing hits the norse in european countries any it will inevitably maybe not german maybe not germany because germany has a very sound economy they have their export mall though they are doing a strategic alliances with russia in terms of oil and gas as well they are sustainable but the rest of europe with exceptional about germany and scandinavia is not then we going to have sort of the. wall street movement inside western europe as well and this is going to happen within the next few years because the model itself is unsustainable i'm going to jump in here we're going to go to a short break and after that short break we'll continue our discussion on the west stay with our. experience before series with the. nation. day. to make. him the flying. speak your language. they will not advance. news programs and documentaries and spanish what matters to you breaking news a little tonnage of angola's kidneys stories. you hear. that all teach spanish find out more visit eye

bus spain's banking bailout eurozone finance ministers reconvene in brussels as madrid makes an official request for the e.u. to rescue its wheat banks. in live here at the new sensor thanks for being with us from some britain have some of the israeli ambassadors in their countries to get on says over why more settlements have been authorized in disputed lands near east jerusalem the un and the you've also said that israel's construction plans pose a threat to future peace negotiations now more from a middle east correspondent pull the slip. that's happening in an area known as anyone known what it effectively means is that the voice that include will be cutoff instruments to them this announcement is widely perceived as punishment against the palestinians for number one going to the un was with this by the number two winning it essentially winning a bird that sees the palestinian state being recognized within nine hundred sixty seven borders and given non observer nonmember observer status at the united nations now we're also hearing criticism of some european ambassadors european diplo

what's happening in greece spain parts of. porch ago when this singer hits the norse in european countries any it will inevitably maybe not german maybe not germany because germany has a very sound economy they have their export mall though they are doing a strategic alliances with russia in terms of oil and gas as well they are sustainable but the rest of europe with the exception of about germany and scandinavia is not then we going to have sort of. by wall street movement inside western europe as well and this is going to happen within the next few years all right gentlemen because the market itself is unsustainable going to jump in here we're going to go to a short break and after that short break but continue our discussion on the west stay with our. well with. this month's high tech means could help whether it be the latest laser cutters or lifesaving heart rushing innovators are working hard to keep you healthy for some companies it's been a winding road from car simulators to cutting edge streaming systems for others i

is a lot of scotland old independence referendum in twenty fourteen spain no determined determined to bangkok loney of molding why is spending so steadfast is it because cars alone it is affluent as you make it out to be the lego world that that definitely one of the factors spanish maybe actually they are the ones afraid to be alone without the economical input of catalonia but the one that cuts plants we are also the thurmont to make it all work for everybody because we're not against the spanish we don't want to spain to fail we just out in favor of catalonia and not to fail with that's inside of and so we i'm sure was how alliances commercial alliances so nothing happened to sustain but that could be a fast i'm not a fast so we do have to bear in mind that the spain only finished its dictatorship in seventy five one hundred twenty five and the transition that the start at the thought of the start that the democrats the democracy in the spain because that dictate to died so they the deficit the democratic deficit that spain been has we understand he speaks so maybe english actually

it is an archaic sport, once hugely popular in spain.hen it was banned, but now it is making a comeback. this traditional hunting method is being legalized by a number of regions. even the spanish environment ministry is backing the move, hoping to see a rise in takings in national parks as a result of people buying hunting permits, but animal rights activists are far from happy, calling the horseback hunting savage. >> this is a story from spain about wild boars and a controversial method of hunting them. but it is also a story about a country in crisis and how one is sacrificed for the good of the other. this is a member of the old gentry. hunting has been in his family's blood for generations. he is helping revive the tradition of hunting wild boar on horseback with spears. the sport, known as pigsticking, was long banned, but he has legalize it again. as chairman of the pigsticking international club, he wants to use the hunt as a way to draw tourists to the region. hunters pay at least 5000 euros per team to take part, money the loc

people in spain saying their dignity is at stake that later in a report on how. thousands are testing against governor sterility across the country. and time for action american sign gun control petitions is a message to the white house after the latest tragedy in a u.s. elementary school the details on that and plenty of other stories after this break . if you're passing through russia's very region you really can't go on the wild side thousands of kilometers of unspoiled countryside make up an area where it's still possible to live off the land such spectacular scenery makes it a paradise for fisherman and provides a business opportunity for hunches. there are defined hunting seasons in russia but lacks enforcement means many animals are killed out of the allotted times which can leave young animals orphaned and unable to survive the heart of just us forest provides a sanctuary for the most famous beast in russia it's home to a group who rescue often bear cubs and raise them when they're old enough to fend for themselves the cubs a target taken to a remote loca

if italy and spain have their own central bank, if italy and spain are borrowing in their own currency the ecb is lender of last resort, those bonds look very attractive. if they're emerging market countries which borrowing in someonels's occurrenci which is real default risk -- someone else's currency which is real default risk, in terms of assurances it will be the back stop. but huge execution risk in terms of what the ecb will do next year. and more broadly in terms of longer term outlook, fiscal and banking union. >> especially because that success on dragy's front seems to have taken away support. andrew balls, head of portfolio management at pimco. thank you very much. >>> the wet summer in the u.k. could ruffle consumer feathers this festive season. turkey prices in britain up about 4% on the year. while vegetables will also have you dig deeper in your pockets. brussels sprout prices have shot up by a quarter. potatoes are roasting 43% more expensive. and speaking of christmas dinner, i did go down to the st. paul's branch of latali ' de chefs to find out there b expansion plan

spain has been doing okay. for as long as i can continue, there isn't really any prospecs of spain asking for help. but i think the market knows that if spain does ask for help, there's always the back stop of the omt and that's why spain is doing what it's doing. so so far so good. >> starting to get ahead of a heavy 2013 program. will that throw out problems? >> i think they're pursuing the right strategy. the big difference on this front between italy and spain is that italy has a big fall in redemptions next year when it takes off pressure for sly flex year. spain has the opposite problems, a rise next year. so it's technically done for this year and the reason it's funding is to take some of the pain away from next year. and again these options get done and it isn't a big drama. they do have to get digested. but the primary dealers do take the bontds down and i'll expect no difference different on wednesday. >> so for the moment, no pressure relatively speaking. and yet we're now looking at the downgrades

spain has made a formal request for the e.u. fund this to help it spotted banks the deal will be discussed at the eurozone finance meeting underway in brussels details now than from artie's paper all of. spain has requested nearly forty billion euros worth of financial aid to help its crippled banking system this money will be distributing with thirty seven billion euros going toward spain's four nationalized banks and two point five billion going toward spain's so-called bad bank now the cash should be ready for distribution by around the twelfth of december finance ministers meeting in brussels they're expected to ok this cashiering as part of their monthly meeting but what it does mean for spain is that they join the likes of portugal and italy along with greece as countries who are entering this festive period hardly full of the joys of christmas regarding their finances the spanish people who showed in the recent past that they are very much upset with the current situation in their country and the fact that the government'

spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a rally. finally, let's close taking a look at the forex. euro/dollar is weaker. and it's holding just above 1.30. and the dollar/yen, this is the one sixuan mentioned to watch. heading into japanese elections, stocks outperform adding oots .1% to 83.35 this morning. >>> south korea's central bank may be worried about factors in the economy, but the dok says the economy is stronger than it used to be. more on that next. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way t

credit rating agencies handed out significant downgrades to spain and portugal in particular. europe's firefighting coalition of finance ministers hoped a fiscal pact with tight budgetary controls and national debt breaks would need future crises in the bud, but some economists were more realistic. >> the fiscal pact was basically superfluous. we already knew that all the countries were trying to cut back. weather or not they continue making cuts in 2018, which is what the fiscal pact promise, is of little interest to the markets. >> agrees also posed a challenge to the eu finance ministers, who approved a 130 billion you're out -- billion euro bailout -- greece also posed a challenge to the eu finance ministers, who approved a 130 billion euro fail appeared more and more, the focus on firewall plans for 2013, releasing 800 billion euros in october, but that attempt to extinguish the problem came too late for the spanish financial markets. one bank sounded alarm in may. it was nationalized and needed funds to survive. other banks went through similar problems. risk premiums fo

spain is set for more public fury with hundreds of thousands ready to cry out against. now demanding that the plans to privatized must be scrapped. egypt's opposition groups call for nationwide protests to challenge the outcome of the first round of voting early results showed backing for the islamist constitution. and protesters in bahrain say the situation has spiraled out of control with a nation going through the worst crisis in its modern history. just after six pm on monday moscow time this is r t life with me wrong welcome to the program. now hundreds of thousands of people are set to march in spain to protest against the government's cuts and reforms the demonstrations have been called by the country's top labor union and social groups on sunday thousands of health care workers marched across madrid to make their feelings clear about plans to privatized hospitals and the government insists it's all part of the austerity measures needed to pick the country up from its deep recession and the protests come as e.u. leaders agreed on closer integration in brussels th

spain is set for more public fury with hundreds of thousands ready to cry out against the doctors and nurses demanding plans to privatized hospitals. protests in bahrain are met with tear gas and stun grenades as activists claim the nation is going through the worst political crisis in its modern history. and egypt's opposition groups call for nationwide protests to challenge the outcome of the first round of voting results show backing for that is mr constitution. online on screen international news and comment live from moscow this is. hundreds of thousands of people are set to march in spain to protest against the government's cuts and reforms the demonstrations called by the country's top labor union and social groups will continue to tomorrow protests crowds of become common scenes on the streets of spain. of healthcare workers march across madrid to make their feelings clear and are planned to privatized hospitals the government insists it's needed to lift the country out of its deep recession. e.u. leaders agreed closer integration in brussels french president francois hollande

in spain right now, though, they're also about vegetables, specifically -- >> carrots.arrots. >> reporter: carrots. the humble root which may determine whether kym marsh's theater in the town near barcelona lives or dies and a lot of others too. why? because the spanish government has recently just about tripled the sales tax on theater tickets and kym fears that no one would ever fill these seats, until he made a discovery whiles out shopping. the tax on carrots is 4%. >> 4%, yes. >> reporter: the tax on theater tickets -- >> 21%. >> reporter: 21%. kym marsh did the math. food for the body, 4% tax. food for the soul, 21%. there had to be a way to bridge the gap. there was. kym doesn't sell tickets now. he sells carrots, expensive ones. >> 15 euros, one carrot. >> 15 euros, one carrot. >> yes >> 17 bucks for the carrot, you get the ticket for free. >> free. >> reporter: for every carrot you buy, you get a free ticket. >> okay. see? >> reporter: it's not really a laughing matter. theaters, movie houses around the country are all being hit by the new tax and are looking s

the ibex 35 in spain, down almost 1.5%. we can take a quick look there.f investors are rotating out of the periphery. italy and spain, moving higher. bund is below 1.3% as a result. italian shares are trading lower. banks stocks particularly hard hit on the back of political uncertainty generated by mario monte's position to resign from his post as prime minister. his departure is likely to lead to an early election in february. monte's predecessor has announced his attention intengz to return to office. sylvia berlusconi says he'll seek a fifth term as italian premier. carolin is following this situation from rome. how likely is it that we see berlusconi return to politics next year? >> kelly, you know what? it's pretty unlikely. if you look at the latest polls, his pdl party, which is deeply fragmented, is trailing the biggest party, the pd party, but around 16%. it's going to be very, very tough. not even impossible for him to close that gap over the next two months. but i want to continue the discussion about what monti

bond market, yields still very contained for spain and italy. 5.2% yields in spain. italian yields slightly lower, 4.39. gilt you see currently just edging slightly higher. and on the currency markets, dollar index at a one month low. ism manufacturing not helping. dollar-yen therefore down to 82 and dollar is done against everything else, as well. apart from the swiss franc. let's show where you we stand with oil prices right now. we've got nymex trading at 89. present at 110. both of them fairly steady. what about the outlook? joining us is peter hunt at rbc. peter, good morning to you. so does oil stay in this sort of recent ranges for the foreseeable future? >> actually we think it is. it sounds like sort of the risk of complacency. something we challenge ourselves on quite regularly. but given the points about china demand and global gdp, we're still very cautious in terms of demand, but the issue for the oil markets is supply and there are still big movements going on there. i think over the last three months, you've seen a really sharp fall in the output from

we're seeing spain and italy yields falling 5.4% or just under that level in spain. gilt in particular, if you look at the 1.92% level, this on the back of the inflation report which showed cpi up 2.7% year on year. forex, the euro/dollar was stronger earlier. we're seeing just a little bit to the up side. not too far off the 1.32 mark which is extraordinary. the sterling moving to a multi month high. 1.62. it's just over that level this morning, up .1%. >>> now, spain will keep a quick look -- take a quick look at the results from italy in this debt auction. we've got basically an offering of short-term bills, three month and six-month bills. the yields on that are still coming through. looks as though spain has sold about 11.5 billion in the three months and just shy of 2 billion in the six-month paper. the bid to cover ratios for both, let's see, at least the six month moving higher on the three month and more importantly, the yield on the three month. 1.373 versus 1% the last time around. still waiting on the yield for this six month. while we wait for that to co

and also, and luring russians to sunny spain. there is a real temperature contrast for us in europe. in the east, it is bitterly cold. in the west, it is milder. we're seeing a talk temperatures of around 11 or 12. the air is trying to push east on monday. we will see things turned slightly warmer. there is an intense area of what weather. it is piling up over the u.k.. that is why we have the flood warnings. you can see more clouds trying to make its way across europe. as the rain makes its way into the cold air, it is turning more wintry. we will see it turned to snow. behind it is where the milder air is. towards the northwest, the rain continues. for the u.k., it will still be very what -- it will still be very soggy. we're looking in the top temperature of around 19 degrees. there is likely to be more in the wake of clouds. there could be showers across libya and parts of egypt. green festival, only on link tv. >> welcome back. police in india have used water cannons to disperse crowds in new delhi. people have been on the s

the government of spain has been struggling for months now to turn the country's economy around. today, new figures were released showing the number of people out of work is at a new record high. >> some 4.9 million spaniards are currently registered. that's an unemployment rate of some 25%, and many fear the situation is going to get worse before it gets better. >> long queues at the unemployment office had become a familiar sight in spanish cities, and they keep getting longer. the number of jobless rose for a fourth consecutive month in november. almost 500,000 more are out of work compared to a year ago. >> i wish there were more jobs. we are sinking in unemployment. >> i think the bad situation we are in is going to last at least another two years. >> the government, of course, hopes that is not the case, but so far, it has not had any success in bringing down the jobless rate. >> these are obviously very bad numbers. unemployment continues to rise. we work hard every day to try and change that. we are dealing with a crisis. >> critics at home city government's approach of c

hundreds of thousands of people are set to march in spain as crowds are starting to gather in madrid to protest against the government's cuts and reforms demonstrations called by the country's top labor union and social groups will continue into tomorrow protests crowds are becoming common scenes on the streets of spain on sunday thousands of healthcare workers marched across madrid to make their feelings clear about plans to privatized hospitals the government insists it's needed to lift the country out of its deep recession the bridges karmas e.u. leaders agreed closer integration in brussels the french president francois hollande said there's no doubt about the integrity of the euro zone and investment advisor patrick young believes the euro's continued existence is a facade spain has simply run on the cash. the problem is that the spanish government doesn't have any money and that's ultimately the problem the difficulty with the spanish government is that it hasn't actually want to bite the bullet or bridge the multiple areas in which it's been deficient for many many years and m

now hundreds of thousands of people are set to march in spain to protest against the government's cuts and reforms and the demonstrations have been called by the country's top labor union and social groups on sunday thousands of healthcare workers marched across madrid to make their feelings clear about plans to privatized hospitals and the government insists it's all part of the austerity measures needed to pick the country up from its deep recession and the protests come as e.u. leaders agreed on closer integration in brussels and the french president francois hollande said there's no doubt about the integrity of the eurozone which will no longer be taken by surprise but investment advisor patrick young believes the euro's continued existence is a façade of spain simply put has run out of cash the problem is that the spanish government doesn't have any money and that's ultimately the problem the difficulty with the spanish government is that it hasn't actually wanted to bite the bullet all the multiple areas in which it's been deficient for many many years and minutely one could say

it is the seventh largest corporation in all of spain. it is the largest corporation in the northern part of spain their runs from barcelona in the east to san salvador in the west. is an extraordinarily successful collection of 300 co-ops, some as small as a dozen people, some numbering employees in the thousands. the largest single enterprise is the largest supermarket chain in the northern half of starain. with tholhu00 employees, those supermarkets are run as cooperative enterprise. all decisions are made to get the. they are highly modernizee of highly technologically efficient and they have a n. wber of interestinge arules but before mention those, everyone of the courses is ref1 o lired to compete with capitalist enterprises and whatever they do and they do everything from rap that farming to the production to high-tech equipment of all kinds. they have their own bank, their own pension system, and talianagement. when you arrive there, big modern glass and steel bpetldings, you thihate you're walking into an american corporation he

been long trial the medical workers thousands of spain protested howls privatize ation as the activities called for mortal aspirations against. its eleven in the morning in the russian capital you're watching all see was me hello and welcome to the park ron. now the main opposition group in egypt has urged its supporters to again occupy the streets and squares in a bid to challenge the fuss around with a referendum on a new constitution the national salvation front ones are peaceful they would count code claiming it was plagued by overwhelming fraud i'm concerned the results indicate that fifty six percent approve of the draft constitution which was drawn out by the islamists with the backing of the president and the muslim brotherhood it's vigorously rejected by the opposition who blame the government would turning the constitution into an islamist code and there's still time for campaign is against the draft to turn things around before the polls open for the referendum a second stage on saturday national salvation front spokes person. hoping the opposition's complaints won't remain an

youth unemployment in spain is 55%. there is not a good reason to own spanish bonds here. [ overlapping speakers ] >> last time we were on together you were saying the world was going to end because greece was going to default and leave the euro. it's all over. europe's fine. just give it a break. that was last year's story. [ overlapping speakers ] >> europe is not fine. spain is in significantly worse position. they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all. [ overlapping speakers ] >> spain has about the same debt to gdp ratio as germany. that good enough for you? >> [ overlapping speakers ] >> hang on, fellows. let's not get hung up on spain. what i want to come back to is the usa. because our market has not collapsed, it's really different than it looks like it was back in 2011. i just want to ask, is it better to own those low-rate bonds right now? or jim la camp, i want you both to weigh in quickly. i

the march of the medical workers thousands in spain protest of privatizing until sterrett actually it's called for more demonstrations again. hello and welcome to r.t. twenty four hour news live from moscow our timeline story now the main opposition group in egypt its supporters to again occupy the streets and squares in a bid to challenge the first round of the referendum on a new constitution the national salvation front or peace told the weekend poll claiming it was plagued by an overwhelming fraud so i'm going from the results indicate that fifty six percent approve of the draft constitution which was drawn up by the islamists that would be backing out the president and the muslim brotherhood it's rigorously rejected the opposition who blamed the government for turning the constitution into an islamist code and there's still time for campaign is against the draft to turn things around before the polls open for the referendum second stage are such a day national salvation front spokesperson rudy is hoping the opposition's complaints won't remain unheard. right now we want the authori