or out of the eurozone. we have to prepare for every eventuality. >> this morning the european parliament by a very large majority passed the call for action stance. >> i'm against the financial transactions tamm. for a simple reason, the european commission did a piece of research into a transactions test. and found it would cost hundreds of thousands of jobs. what it sounds like, it's taxing the bankers and the rest of it, actually you end up putting up the costs of people's insurance policies, putting up the costs of pension policies and driving all that offshore. i'm not surprised some of the european countries support it, because they see it as a good way of taking a lot tax out of the u.k. and spending in europe. i'm not falling for it. >> mr. william cash. >> there is increasing pressure for political union between certain member states. whether this is by enhanced corporation or by governmental treaty or other stealth measures. does my friend accept that irrespective of the european union act passed

of america's economy but leaving the eurozone would mean introducing their own currency. pairs it isn't a very good deal because cal of california i think. the lengths had to write off their debts you could see a series of banks no longer lending to each other we have to do things greece has to remain graham it's a totally all process it's a totally different banking system ok rachel how would you respond to what we just heard from graham. well i'm hearing a lot of this scenario and it's the one that's most about the one about greece leaving the euro zone but what about two other scenarios i've considered the first being that germany stops paying for everyone and the second being that individual countries decide to trade amongst each other and to to solidify pox between each other and basically ignore what's going on the other countries just for their own survival sake are those possible scenarios i mean i. and how feasible this grand think those might be of course america has to deal with is our own public opinion and the germans don't want to have to bail out the greeks

we're looking at it that there are there are six months of the eurozone has to be done not on the basis of what is actually happening today but all graham said a couple of minutes ago on the progress that has been made since two thousand and eight come on that decision we all say sorry doesn't help me etc money so i mean today that i make any sense at all rachel taking over. i mean this is the thing the whole project is you surrender your saw and we'll keep you safe we'll give you a job and we'll give you a pension ok that's a political project it's a failure across the entire eurozone if it's petering whereas the very very thing you need to remember and i think you know whatever you want to raise your first exemptions ritual first i think at this point you know the euro was founded on a pie in the sky idea that ended up being an economic straight jacket and nobody can escape at this point that's the problem and working against the economy for political reasons just because everyone has a great political will i'm not sure how long that can last when people aren't working. there are goin

plus fresh uncertainty for the eurozone as a coalition collapsing greece tests and. violence. plus hopes of finding survivors from a plane crash in indonesia fade as a rescue team discovers the first victims from the fatal. demonstration flight. well that's it for me and the news team for the moment i'll be back with more for you from now in the meantime as promised cross-talk is next on the focus is the future of the euro zone can it be saved or is it already. and you can. still. below in welcome to cross talk i'm peter lavelle going to the extremes what is happening in europe french voters appear to be moving to the left while greece is leaning hard to the right what is causing the collapse of the political center of europe and does the european project have a meaningful and united future. to cross out the future of european politics i'm joined by rachel martin in paris she's a political communications strategist and syndicated columnist in brussels we have graham watson he is a liberal democrat member of the european parliament for southwest england and gibraltar and in lond

the top of the exit for greece from the eurozone. >> the two of them have had there first day. this commitment to friendship. can they make this marriage work, do you think? >> i think it will depend on how much each of them are willing to give. the truth is, we hear this austerity versus spending debate. it is a false debate. you cannot start your way to growth. we need sensible spending cuts. i think ms. merkel has been playing a very cagey game. germany wants to extract as much as it can from the eurozone before it ponies up the bank in germany and france will get behind the lead the country's if there should be a disorderly exit by greece. >> they both have said they want to keep the greece in the eurozone. is there anything they can do that would effectively intervene in the crisis? >> well, in an ideal scenario, you would of the talk of eurobonds. you have a political discussion are around real political integration, a fiscal union. that is probably not going to happen given all the political constraints. ms. merkel is facing incredible political pressure within germany,

he's here in half an hour's time for now though it's cross talk and the focus is the future of the eurozone can it be saved or is it already too far gone this is. and you can see. below in welcome to cross talk i'm peter lavelle going to the extremes what is happening in europe french voters appear to be moving to the left well greece is leaning hard to the right what is causing the collapse of the political center of europe and does the european project have a meaningful and united future. to cross out the future of european politics i'm joined by rachel martin in paris she's a political communications strategist and syndicated columnist in brussels we have graham watson he is a liberal democrat member of the european parliament for southwest england and gibraltar and in london we have dionysus the meter coppola's he is a senior lecturer at the department of politics at birkbeck college at the university of london all right folks this is crosstalk that means you can jump in anytime you want rachael you wrote a very interesting article why is that a cause he was defeated in the presidential

they didn't realize look if they don't want the structural reforms just leave the eurozone ok i don't see why everybody else in europe who has to pay for bad habits of a population like greece rachel going to jump in but it's not the population it's not no i mean it's just you know anybody drags everybody else down rachel go ahead . yeah i think i think the french people for example are already tired of paying for the problems in greece and i think that's the general concept of the eurozone is now everybody's frustrated paying for everyone else's mismanagement and i question whether any party in greece at this point is capable of making the drastic changes necessary for example hundred fifty thousand public sector jobs were supposed to have been cut and now we're dealing with what six thousand there have it just had to have been if i was in it and i don't know jerry has that allusion and i i think the fact that we're seeing it and i think it is the fact it's going to appraise a vehicle hard is a simple excuse me sir i just can you excuse me sir can you just let me finish please i thin

g-eight leaders have gathered for a crucial summit, with the question remaining about how to resolve the eurozone crisis. protests against the syrian government. the stock might rocket -- stock market rollercoaster, facebook shares valued. hello, and welcome to our viewers and america and around the globe. amid more worries of mid it the financial crisis in spain, we go to madrid to gauge the nation's mood and the olympic flame arrives on british soil ahead of the torch relay. >>> hello, again. world leaders are beginning talks and the united states, likely to be dominated by the crisis and the eurozone. they're also expected to discuss iran, north korea, and syria. president obama and the new french president had their first meeting, making it clear that they wanted to see a focus on growth rather than austerity. >> just a week in the job and the demand is at the eye of the storm, being sized up at the white house. when it comes to the european economy at least, president obama may have found himself a new friend. there are both men of the center-left, both want to stimulate a new european debat

>> i think the german or eurozone position is very clear. day. i think the greeks and the greek opposition are, sorry to say dilutional. if they can say whatever we sign, we don't care, you need us and have to bail us out anyway even if we don't fulfill any of our commitments. once that kind of basic trust is gone, then no new treaties can be signed either. so if the greek -- the present greek opposition actually wants to risk having to leave the euro because they're out of money, i think there's going to be mayhem and i wonder whether the greek opposition is going to play that card to the end. i think everybody's wondering about that. >> all right, silvia. we'll be back with you. for now, thank you. >> we want to do a quick check of retail in the u.s. we've got a bunch of retailers joining us this week. and joining us is managing director and senior equity interest. you like it. explain. >> certainly i like the stock. the company rolled out a new merchandising initiative about a week ago. it's called the shops at market. it's boutiquey is pr

the eurozone needs to have contingency plans in place for both eventualities. this should involve strengthening banks, protecting financial systems and decisive action to prevent contagion. whatever the outcome, this government will do whatever is necessary to protect the country to secure our economy and our financial system. alongside the discussion on the economy, i have two further priorities at the g8 to continue the good work of the g8 on development and support the arab spring and support democracy on reform. the new alliance aims to help 50 million people lift themselves out of poverty over the next 15 years. they need to show transparency. this is a great combination of promoting good governance and helping africa to feed its people. i'll be building on this during the olympic games in the u.k. encouraging the private sector to create jobs is one of the best jobs to sustainable growth. aide has a vital roll to play. for the first time in a decade, the amount of aide given to the world's poorest countries has fallen back, promises are being broken and th

second, the turbulence coming from the eurozone. d third, the uncertainty over whether the world is on the right economic path with debates raging about trade policy and how best to support growth. we need to find the right answer to all three of these challenges. now, our answers must be rooted in the reality of the global situation. this is not a conventional economic crisis of the kind britain has had to deal with in the recent past. this is a debt crisis. deficit reduction and growth, they are not alternatives. delivering the first is absolutely vital in securing the second. if markets don't believe that you are serious about dealing with your debts, your interest rates will rocket, and your economy will shrink. now, britain cannot cut itself off from what happens elsewhere. as our biggest trading partner, the problems in the eurozone are affecting britain, too. and as we prepare for the potential storms, we should, i believe, be both resolute and confident. resolute, because we will do what it takes to shelter the uk from the wo

and the bad news keeps coming for the eurozone. as spanish banks try to get their finances in order, a warning that the recession could last all year. shakespeare restored, and american brings to this stage what he says is a lost play by the great bard. welcome to our viewers on pbs in america and around the globe. tonight, greece's problems have taken a turn for the worse. a third attempt to form a coalition government has failed. it is now up to the country's president to try to find a formula that will succeed. the main parties are deeply divided over the value of austerity measures. for more on this, i was joined by our athens correspondent, mark low end. what went wrong? >> well, the bone of contention -- and what a huge bone it was -- is greece's international loan agreement with the eu and imf and all the austerity and cost-cutting that entailed. it was largely rejected in sunday's election. the two big parties, the socialists and the conservatives, supported broadly, and they will try to form a coalition government. that fai

they are worried about greece leaving the eurozone. the dow jones industrial average closed lower for the fourth straight day on the concerns. the nasdaq and s&p fell on the same day. let's see how tokyo stocks are trading. ramin mellegard has the latest. ramin, good morning. economic data is providing some positive in the u.s. as well as here. tell us about it. >> reporter: exactly, ai. economic data before the markets open here. we had first quarter gdp data out of japan, rising 1.4% on an annual basis. that is a strong reversal from the contraction that we had for the previous quarter so quite positive there. in the u.s., we had industrial production data for april which showed one of the biggest jumps since december of 2010 and housing starts. it is a crucial fact. housing starts rising indicating some of the best growth there for the last four years. markets are down in the u.s. and europe. let's see how things are kicking off in tokyo. a bit of a mixed picture. nikkei in the positive territory. topix trading lower. nikkei has been

here's a look at what would happen if greece is forced out of the eurozone. the government would have to issue a new currency, and that currency would start off weak against the euro. prices of imported goods could soar and trigger hyperinflation. greece's exit from the eurozone would also increase concerns about other european economies. portugal is already struggling to rebuild its finances after accepting bailout funds. italy and spain are also in severe fiscal trouble. if ratings agencies downgrade their government bonds and interest rates continue to rise, both countries will find reconstruction even more difficult. >>> eurozone leaders have been pushing for fiscal austerity measures for some time now, despite public growing resistance. angela merkel spoke to nhk about the situation in greece during an exclusive interview. >> translator: i'd like to see greece remain in the eurozone. i heard that 80% of people in greece want their country to remain a member nation. in order to achieve that goal, the european union needs to express solidarity with greece.

the biggest threat to our country at the moment is the crisis in the eurozone. almost parallel to that is the pending crisis if the middle east. with a start that today's very important conference in baghdad did we find time over the weekend to speak to the russian and chinese leaders to emphasize the importance of anywhere goal to make sure we have a peaceful outcome of the situation? >> a good portion of the g8 was spent discussing the situation in iran, and specifically talking about the talks that are underway in baghdad today. it was the russians who signed up in terms of a tough text. europe has rightly adopted these oil sanctions, the pressure is beginning to tell on the iranian economy. this is the moment to pressure other countries aaron the world to join in on these sanctions and to say with the iranians there is another pathway. you have to give up the ambition of enriching uranium to the extent it could deliver you a nuclear weapon. >> whatever structural deficiency and other problems, the problem is not caused by that. it's caused by a banking and ec

the german chancellor and the new french leader vowed to battle jointly against the crisis but eurozone cuts are keeping them at odds. a walkout in the line of duty thousands of police officers marched to demand their rights as a massive number of bobbies will soon be given the boot. and with former bosnian serb general robert go on trial in the hague for war crimes we asked his son know why the defense sees the case as biased. thanks for joining our team it is eight o'clock here in moscow and i'm karen tara it's a tough road ahead for france and germany as newly elected president francois hollande and chancellor angela merkel pledged to work together to battle the crisis however they don't exactly see eye to eye on how to do it with opposing views on belt tightening and how to punish overspenders arches peter oliver is in berlin. well there was no real political bombshells dropped at the meeting between francois hollande and merkel but there was also no attempt to cover up that they too don't see eye to eye on every issue and emphasized his belief that the impetus for growth is needed

cannot kick the can down the road in the eurozone, even the u.s. with the fiscal drive, even in china with the political transition, change of economic policy. therefore, timing is important. right now i don't see the markets falling sharp. i see the u.s. market falling flat for the reks of the year. and therefore i have that position. >> nouriel, thanks so much. >>> lots more straight ahead. continue our conversation with rick rieder. >>> wak back to s.a.l.t. live in las vegas. reaction to what nouriel roubini had to say. rick rieder, i know your chom g champing at the bit. >> potential slow-moving train wreck in europe and when you look at the counter to it, there are a whole lot of things that can happen. when you talk about greece you talk about portugal, no doubt restructuring obviously is happening in greece, portugal potentially. you think about italy and spain, very different diverse economies, very different -- spain has a banking crisis, tremendously quiddity. 80 billion in liquidity to deal with and low leverage at the sovereign level. i

-- stay with the euro, or do you want to exit the eurozone? that would be the question. >> a very big question is. thank you for joining as. meanwhile, finance ministers have been holding talks in brussels. no surprise, greece is at the top of the agenda there. >> the trouble is, no one knows what would be the fallout if greece decided to leave and the stakes are high. >> some say a departure by greece would mean the end of the single currency. >> european finance ministers have been sticking to a hard- line approach, saying greece must stick to the term of the bailout, or the money will stop flowing. >> greece must toe the line. >> it is not now a question of how generous we should be towards greece. it is simply a case of what makes economic sense, and what is plausible. >> many colleagues agree. greece must make the cuts or do without the money. regardless of who was in power. >> we did not agree to a deal with the government. we agreed to a deal with greece as a country. if the country needs financial aid from outside, it has to fulfil the

. >> the polls show that most greeks want to stay in the eurozone. how can they do that without austerity? >> well, i think that it is not absolutely black and white. certainly, if you are right, the vast majority of the population and the parties say they want to stay in the eurozone. the question is, the austerity measures. what people are saying is that they want change. they want some negotiation of the package to make it less severe. people are suffering terribly as a result of the mac is which have been imposed over the past couple of years. huge numbers of unemployed. -- people are suffering terribly as a result of the methods which have been imposed. suicide rates are going up. people are taking their own lives because they cannot bear the situation any longer. they want to see a change in austerity, not necessarily scrapping it altogether. >> thank you for joining us. the greeks are not alone in thinking that austerity is the best year for the ailing economy. france walpresident francois hollande is in a different camp than angela merkel when

and stay in the eurozone. hollande said he wants to tell greek leaders that the eu will take steps to promote growth. and hollande and americale wanted to assure that they will continue to work together. nhk world, berlin. >>> the economy showed no expansion in the january-to-march quarter. the european union statistical office said first-quarter gross domestic product remained flat from the previous three months when gdp shrank 0.3%. the area's economy remains under huge pressure. among the 17 nations in the zone, italy's economy shrank 0.8% marking a decline for a third quarter in a row. spain dipped to 0.3% falling for the second consecutive quarter. no comparable quarter-to-quarter is available for greece. in contrast germany's economy bounced back to expand 5%. brisk expt growth held the region'sconomic powerhouse. the latest gdp numbers show that germany's economic strength helped bolster the performance of the region as a whole. at the same time they highlighted the growing disparities among the eurozone

we're reporting extensively on the shaky economic situation in the eurozone over on our website r.t. dot com there you'll find this greek markets braced for a rough ride as analysts predict a continuing downward trend for tuesday also online. sweeping up the opposition iraqi forces attains a speck to the anti-government activists find out what might happen to them next. their initiative alleged terror suspects and torture in the notorious gone time obey prison are the focus for julian assange in the latest edition of his controversial talk show his guess one of whom had been a guantanamo detainee share their point of view on the u.s. war on terror or he's laura smith has the details on the program that airs later this hour. speaks to people who have had first hand experience of the effects of the war on terror one of them is who is used to be a corporate lawyer but now campaigns for detainees of the war on terror through an organization called cage prisoners this second interview here is a man called begg he himself spent some years in guantanamo bay before being released without char

remains committed that austerity is the only way if the eurozone is to drag its way out of the current mire it finds itself in now on the subject of the fiscal treaty francois hollande was relatively noncommittal however he did say that he continued to say to the french people that he wanted to see the treaty renegotiated now that something of course that angle a merkel in germany have said isn't on the table but will be looking to see if they can come to some form of compromise over that issue that treaty of course binding the states that signed up to it to austerity measures the subject of greece of course on the table for discussion is first meeting between the two leaders both of them saying that they want greece to stay within the euro land said that he would respect what ever happens in the greek elections which will be taking place in june however all and also saying that he appreciated the suffering of the greek people during this tough time angle merkel said that the euro was a political project not just a monetary one and said that the eurozone and the euro had benefited the

he says the eurozone was at a crossroad. e singled out germany saying the government had to do more to resolve the crisis. britain is not a member of the eurozone. cameron's comments are unlikely to go down well with the countries who accuse britain of lacking a commitment to europe. the immigrants have crossed illegally into israel in the past 02 years. >> israel may not be the first destination for many african migrants. most head there because it can be reached over land and european countries have become more strict about letting asylum seekers in. >> defense snakes through the desert along the border. is there to prevent infiltration by terrorists and the smuggling of weapons. human traffickers are also at work. they want to halt smuggling of african migrants. more and more people are being struggled -- smuggled across the border. the human rights group provides free medical aid. this man describes the violence he experienced at the hands of the smugglers. >> he was beaten upside down. even his reproductive organs were b

of power in parliament in the case of greece so let's talk about what impact this would have on the eurozone crisis solutions and the crisis itself here to do that is edward harrison founder of credit write downs because you are always so in the nitty gritty of europe that you can really break this down for us and we haven't had a chance to do that with you recently so let's get right to it with elections in france and greece this weekend what would happen to the eurozone crisis solutions and the eurozone crisis itself if say francoise hollande did win the presidency in france or if there was seats gone by the far right or far left parties in greece well i think the thing is a lot more interesting just because it was. merkel and sarkozy together you know having some bond there over policy and so basically it was germany and france dictated to a certain degree i don't know if you saw that young girl who's the head of luxembourg he was on this post as the head of the e.u. group saying that he was sick and tired of germany in particular saying that they speak for you know we're having to shell

the question all in the saudis really for the rest of the eurozone if the eurozone can say to the restand to fashion markets look greece is leaving but we are where greece is a special case you know behind our hands will say it's a bit of a basket case and its problems and not the rest of the euro zone that's what they really mean by an orderly exit if they can convince everyone that he greece is leaving because of greece not because of the euro i don't think the markets would buy that. watch the full interview with you know economics leader writer for the guardian newspaper in about twenty minutes here on r t well stay with us still to come a life apart from the colosseum family cut off by the israeli barrier separating them from their community and livelihood stay with us. is. the official anti allocation. talk from the. video. on the comb. israel's work to wall itself and is back on track after briefly pausing for protest marches on the palestinian nakba day which is held on the anniversary that they mark of israel's founding the country's building walls on most of its borders sayin

make up or break up britain's prime minister issues a stark warning to the eurozone to take persian action or face collapse. syria releases names of alleged foreign terrorists in its custody as the rebellion to get loose to buy arms from abroad suffering a split at the top plus. israel the ignites the palestinian conflict by sending gaza as it pushes ahead with efforts to barricade itself from its increasingly frustrated with the name is. four pm in moscow i met très a good to have you with us here on r t our top story britain's prime minister says the eurozone must make up or break up david cameron told business leaders that the beleaguered single currency countries are at a crossroads that demands urgent action to avoid sparking a global depression our london correspondent laura smith will join us live for more on this later he vowed to keep british interests safe regardless of what happened in the euro zone that might be easier said than done though with british banks have been exposed to greece and the constraints of rules which compel members to help when required the pm thinks it's b

of greece hadn't joined in the first place using phony figures phony figures that the rest of the eurozone exempt accepted more on political and on economic grounds but it's not it's not a question of whether you're in or out but it's a question of getting out that is the danger and you know when it comes to this what apparently is a vicious circle of debt going around here with german shouldering a lot a lot of the burden to prop up other members of the eurozone is it germany or is it the euro kratz in brussels who really have the final say at the end of the day and as you mentioned a moment ago there's an awful lot of politicking going on behind the scenes that might often cloud what should be clear judgment. well ultimately of course the governments in that mean in germany of course means berlin ultimately have the say they do control what the commission does through the off through the european council but leave a meeting of the heads of state or the heads of government but the problem is for germany that although it can say look we've already agreed this fiscal pact we've already agre

so tell us whether you think the greek economy will sound the death knell for the eurozone. here is how the votes stack up now at r.t. dot com so far almost half of you convinced that euro destruction is inevitable in any case a quarter say yes it will be the catalyst for collapse eighteen per cent think the eurozone will survive if greece is finally kicked out while the rest say not a merkel type is all on the belt tell us what you think on archie dot com. still on the way we learn why bobbies in britain think that cuts there are criminal tens of thousands of police officers marched against the government they say is endangering the public by tightening the purse strings in the wrong places. but first the trial started a former serb bosnia bosnian serb military commander in chief. who faces eleven charges of genocide and crimes against humanity during the yugoslavia war in the ninety's a lot of it was arrested by serb forces near belgrade a year ago he's accused of the deaths of more than ten thousand civilians during the siege of sarajevo and for this robbery needs a massac

the group has highlighted the eurozone's risk that greece may exit the euro. a final round of coalition talks and also trying to avert a new election. that is all for now. stay with us on "bbc world news." there is plenty more to come. >> make sense of international news at bbc.com/news. >> funding was made possible by the freeman foundation of new york, stowe, vermont, and honolulu. newman's own foundation. and union bank. >> this is kim -- about to feel one of his favorite sensations. at shell, we're developing more efficient fuels in countries like malaysia that can help us get the most from our energy resources. let's use energy more efficiently. let's go.

what if greece gets kicked out of the eurozone? what if they have no -- no longer have access to the currency? we're going to run you through one likely scenario right after the break. >> today my colleagues and i are cleaning paint thrown onto our doors and building by protesters. my name is katarina. this is the third time we've had to do this this year. it's very frustrating on a social level because the situation as it is and it touches everyone. and on a professional level because these are parts of the historic building that's been mistreated. ed. in the latino communityr retirement. the word that we use is jubilation. as you're getting older, you should be able to do the things that you love. and people. and the planes can seem the same so, it comes down to the people. because, bad weather the price of oil those are every airlines reality. and solutions won't come from 500 tons of metal and a paint job. they'll come from people. delta people. who made us one of the biggest airlines in the world. and then decided that wasn't e