for the u.k. it's one of the reasons that long term is one of the world's financial services because then every major financial institution is in danger in this practice. so they're really want to start you can do so there's really no incentive to stop because this is the moneymaker right ok i want to bring up was there he says is the cost of it ok they say that m.f. global is essentially an example an equivalent example to two thousand and eight of virtually unlimited leverage via the shadow banking system and which there are practically no hard assets backing the infinite layers of debt created above and which when finally unwound will create a cataclysmic cataclysmic collapse of all financial institutions and this is because of the daisy chain of riyadh population of when that wind so my question to you i'm a global it's horrible the customers lost money it wasn't too big to fail it didn't bring down the system when it went bankrupt is there another a.i.g. out there and how would you even find

firms to move money to the u.k. into subsidiaries in the u.k. to get around u.s. regulators this is what m.f. global was doing right right and every u.s. point every major u.s. financial institution is doing is every major u.s. financial institution is shifting their customer money to the u.k. to get around regulation. so you know just how do we know that. i think that's a good question you know the. people who you know of the existence of the existence of the system called the shadow banking system because it's done in the shadows so the way a normal bank works is with fractional reserve whereas if you know you have a hundred dollars you could you know essentially one hundred dollars ten times if you reserve requirement it is ten percent well with the shadow banking system it's all done with own regulated to reduce that are generally off balance sheet and what instead of the u.k. there's no statutory limit on how many times you could cover it up so now thirty to forty one is a pretty common practice for global financial institutions and it none of us regulated. g

the u.k. has to be careful because they could follow the way greece is going so they have to be careful but we have to give them the time to implement the measures that have been designed by this new government i think much more has to be done i also think that the situation in the different member states in the european union will affect the u.k. you essentially the u.k. concern very much about the reaction from the people in those european states who are obviously suffering under these austerity measures protests were reporting today across the whole of europe a lot of many people out there will governments listen to the mater and if they don't this is what happens next. well governments are you know sort of a very difficult situation because they have to abide by the rules imposed by the european union are meant to say by germany and they have to abide also or take care of what their people are saying in the streets but eventually the money comes from the european union so the power lies in

by the u.k. for violating copyright laws we're looking at photos of him right now i mean it would seem based on your independent press over in the u.k. that this kind of thing is an outrage. well i think people are very concerned about various issues to do with the extradition treaty and i'm very glad that you asked me about that because we believe that to some extent this may take part in some kind of discussions between the two leaders i can see that they will be given much precedence by the extradition treaty that the u.k. has with the u.s. . you know this terrible one sided affair where by nothing really needs to be put forward in the way of evidence for the british to have to hand people over prosecution in the united states and what keeps happening over and over again and the fundamental problem is that if these are people who have committed some kind of crime in the country where they are then those things should be dealt with their tradition treaty just seems over and over. is actually re

and the u.k. now apparently this entails watching a basketball game with the president munching on a hot dogs and later this evening a glitzy state dinner reception now there will be no expense spared presumably but guess what the wine list this secret happy transparency week everyone now sadly it looks like secrecy fever has taken hold across the pond as well an act of accountability for abuses committed in the name of counter terrorism is rubbing off on the u.k. cameron's government is moving to expand the use of controversial secret hearings in national security cases all in order to keep a lid on torture committed at the hands of americans separately but still importantly the use of british intelligence in code words and u.s. drone strikes in pakistan is now the subject of a new lawsuit by the civilian victims of those attacks and it's almost like the two countries are mirroring mirroring one another's bad habits and that of the good ones that make them united in democracy right well that's a

dale farm used to be the largest concentration of travelers in the u.k. housing over a thousand people had been bailiffs came october's a vixen the violent end to a decade long legal battle that's left fifty families homeless. critics say could have been averted had the government provided enough legal caravan sites in the first place one square miles all that's needed to house the four thousand gypsies with nowhere legal to live in the u.k. right now but local authorities are refusing to give up land pledging housing instead it's a matter for them there is a roof over their heads with arkansas if they wish to force them to have your fridge there if they wish to carry on living as they are outside of the law that's a lot of work. a roof yes it's simply not an option for a centuries old nomadic culture that's why many dale farm prefer to live outside of a law they say discriminates against them the problem is who are left are allowed to stay so long as they stay within these walls that is the lead. that's left here still quite big it's not big enough for e

let's start out with the u.k. on wednesday it is budget day across the u.k. and the pressure is on to get it right after the ratings agency, fitch, became the second ratings agency, to put britain's aaa credit rating on negative watch. that happened last week. february's inflation data is due to be released on tuesday. and as we move on to japan, that country's troubled exports sector, under the microscope on wednesday, as this country reveals its trade balance. and all about homes in the united states towards the end of the week. on thursday, we'll see the release of january's house price index. on friday, we'll find out february's new home sales, as well. >>> after all of this, earnings from big bellwethers, like fedex and china unicom. to help us preview the action over the next five trading sessions. before i come to what's going to grab your attention over the next five days to come, the markets are looking choppy today. and things have soured particularly, in the first 32 minutes of trade. what's on people's minds? >> there's some money being taken off

how could the u.k. help? guest: the u.k. does that have a historic role in syria the way that france does -- there was a french mandate under the league of nations. britain has some influence in the area. they are diplomats. they also have some capacity to work with other nato allies like turkey. turkey does want to play a role in humanitarian support in a peaceful resolution because they have worked hard to resolve their differences with syria in the past. host: are seeing the white house administration officials, including joe biden and his wife coming out of the white house for the official on arrival of david cameron, the prime minister and his wife. the president should be coming out shortly along with first lady, michelle obama . welcoming them to the white house. there will be lots of, and circumstance. coverage begins on c-span3. we are providing analysis of a u.s.-british relations. there will be a joint conference at noon. -- turned into c-span for that. we will be covering the state dinner tonight at 6:15 p.m.. go

and some degree the u.k. its abortion which represents the frame of reference and that emerged gradually so that the issue of embryo research and stem cell research with embryos gets grafted onto a very polarized abortion debate in this country there for the religious conservatives against scientists. in germany and france the abortion issue was never settled what sort of compromise as early on in the 1970's whereby abortion was recognized as a serious concern, the taking of innocent human life that legislators made the decision not to prosecute women are doctors and that kind of pragmatic compromise took a portion of the table so the issue of embryo stem cell research is framed by different legacies and in germany the most important legacy as eugenics, the human experimentation during the nazi era something that resonates in france as well and so there's generally more caution about science and technology than pushing some of the limits americans are willing to push on the scientific side and skeptical on th

construction workers in the u.k. are speaking out discovering files of information were being kept on them without their knowledge but able to get jobs why now seems that it's been wanted in some cases being used against them that is the recent reports. banned from working for speaking the truth these trade unionists and whistleblowers all fighting back after years of wondering why they couldn't get a job these skilled engineers now know their names were on an illegal blacklists. in two thousand and four former union organizer steve hadley was mysteriously sacked and for the next four years he wondered why he couldn't get another full time job then a friend told him about a blacklist held by a private company and accessed by some of the u.k.'s biggest construction firms sure enough he uncovered a sixteen page file on himself cause and retail. political a political activists were three. part i was privy and. they were the employers were distributing this amongst themselves much of the information in hadley style is cl

so we are expanding u.k. export finance and setting out new plans to help smaller firms in new markets. exports abroad must be accompanied by investment at home. britain has a reputation as a remarkably open and welcoming place for investment. we must never allow protecis political system. instead, we're actively seeking investment from overseas pension and sovereign wealth funds and working to develop london as an offshore market for the chinese currency. we also want investment from british pension funds and british infrastructure and are now working with a dozen of the large pension schemes specifically on that. we're the first british government to set out a national infrastructure plan the projects we're going to prioritize in the coming decade. the roads, clean energy and water, things we all need and have identified. i also believe this country must confront the lack of airport capacity in the southeast of england. we cannot cut ourselves off from the fastest-growing cities in the world and the transpo

and the u.k. have been pretty much on the same page on everything on syria both want to see regime change as prime minister cameron put it not through revolution but through transition both leaders deem military intervention. undesirable and both say they're looking to work with russia to bring about a peaceful outcome on the rent president obama said the window for a diplomatic solution is shrinking but most experts agree a war will not solve the problems but will create a million you want. dozens of police officers equipped to a child guns and assault rifles have stormed an apartment building in miami florida they used weapons against local occupy wall street protesters who were illegally residing inside activists moved into the building last month after their e.v.a.'s and outside the city government building was shut down as marina portnoy reports there is a failure among the u.s. and its allies to practice what they preach when it comes to freedom and human rights. the u.s. and its european al

fuel frenzy motorists across the u.k. are preparing to of fill up on petrol ahead of a possible fuel tanker strike. this comes as france joins britain and america in talks to release emergency all surprise to cope with the spiraling prices join me on the bennetts in london for more in just a few months. the arab league has split so how to deal with the syrian crisis some members advocate diplomacy while others want to arm the rebels and weigh in with force. the five member blocks of the brics countries are meeting in delhi today to discuss an alternative to the almighty euro and dollars in their day to reform the global economy. a very warm welcome to you from all of us here at r.t. moscow rule reception for tens of thousands of people across spain are gathering for a general strike to protest against new labor reforms i hear nazi was so showing you live pictures right now it's seen as the first real test for the new prime minister mariano to who's the government has only now been in office for three months the strikes co

the u.k. has performed poorly in recent years. have to see if engelbert humperdinck is the right man to release it from a string of bad luck. >> it's not easy to love. it's not easy to live together. you start out as friends. end up like stormy weather. when neither's right and the other one's wrong, remember. that it's easy to love. it's not easy to live together ♪ >> i remember that. bbc. of course a commentator extraordinaire of the eurovision contest. interesting choice. >> yes. a surprise. no one saw it coming. possibly not even engelbert. it's still surprising to this contest, which is already bizarre being held in a place neighboring the caspian sea. and then mix engelbert humperdinck who is named after a 19th century german opera composer. >> it's possible to say the u.k. has lost the formula. >> the plot. >> possibly. yes. >> and then trying to regain the issue. >> well, it's certainly surprising. the u.k. lost its sense of eurovision a long time ago. we say we were always saying we mate with songs we don't like ousts. so

or u.k.consumers and we're in this odd situation where we are borrowing money from the chinese in order to pay them for the goods they manufacture. >> rose: that's our situation, too. >> but actually, we want to be in a situation where we are selling them new pharmaceutical products that their family has never had in their history. when they travel for the first time on our planes, they are traveling on airbus with rolls royce engines. >> rose: boeing and g.e. >> when they come as tourists as the japanese did 20 or 30 years another first start coming, they come to cities like london and enjoy our olympic games this year and jubilee-- there are many things britain is good at. government at financial services, good at pharmaceuticales, good at aerospace. those are the kinds of things chinese consumers wants and britain has to have the self-confidence to go out there and sell that to the world. >> rose: the united states wants to increase-- the president says this every other stop-- increase its

and the u.k. have been pretty much on the same page on everything on syria both want to see regime change as prime minister cameron put it not through revolution but through transition both leaders again military intervention. undesirable and say they're looking to work with russia to bring about a peaceful outcome on the rent president obama said the window for a diplomatic solution is shrinking but most experts agree a war will not solve the problems but will create a million new one. over a longer and david cameron the have been stressing their country's special relationship throughout the visits with state dinners on a trip to boston pool gate investigative journalist and the worthington leaves both are hiding secrets about the same target. i think it's strange really i mean you know ever since nine eleven and the war on terror against first of all we had you know a labor prime minister cozying up with a republican president now we've got a democratic president cozying up with a conservative p

can engelbert humperdinck rescue the u.k.'s reputation?e times" has an exclusive interview with russia's prime minister vladimir putin in which she says that moscow has no special relationship with syria and that the killings must not. there is a detail of violence in homs and the elections in iran. the financial times shows an animated discussion between the greek in german finance ministers after eurozone members delayed the approval of more than half of the $140 billion bailout package. "the times" shows us the singer engelbert humperdinck who is a surprise choice to represent the u.k. at the euro vision song contest. >> this is "newsday" on the bbc. >> these are the headlines. syrian opposition forces say that they are withdrawing from the besieged a district in homs. >> iranians will shortly go to the polls to vote in parliamentary elections. in britain, two people had been found guilty of murdering a teenage boy they have accused of witchcraft. eric bikubi and magalie bamu are accused of the murder. the boy died with 130 separate inj

but as the u.k. brandishing its military might fall by three decades after the war dougherty is raging against what they call reply colonialism. and. it is good to have you with us today this is our live from moscow with real reception you and states have agreed to tone down a proposed security council statement on syria it's a clear sign the world body is moving towards a united stance russia said it's ready to back a resolution as long as there are no ultimatums aimed at the assad regime at least correspondent paula has the details and the statement as such is a statement that would not be legally binding and this is because although the violence in syria has been ongoing for more than a year in that time security council members have been unable to agree on a resolution a resolution by comparison is binding and statement is not but it does have the potential to become a resolution at a later stage now russia is backing the statement and has said it will back a resolution that will be formulated fr

and to some degree in the u.k. its abortion which france -- which represents a frame of reference, and that immersed gradually. so the issue of embryo research, stem cell research with embryos, is grafted on to of very polarized abortion debate in this country. there for religious conservatives against scientists. germany and france the abortion issue was never settled, but sort of compromise was reached early on in the 1970's were by abortion was recognized as a serious moral concern, the taking of innocent human life, but legislators made the decision not to prosecute women or doctors. that kind of pragmatic compromise took a portion of the table so that the issue of embryo research, still sell research his friend but different legacies, and in germany the most important legacy is eugenics, the experience for human experimentation during the nazi era, something the residence in france as well, and so there is generally more cautious about science and technology and pressing some of the limits that americans aren'

and i want to talk sort of about how folks in the u.k. seem to they see their own complicity in sort of this growing affiliation and secrecy clamp down. or do they see this as evidence of the u.k. for example holding perhaps. well you know in terms of accountability people in this country are aware that we have demonstrably examples in an independent judiciary that actually exposed the complicity into. the previous labor government and people will see that the attempts by the cameron led government to impose greater secrecy across the board in british courts is a dangerous obstacle to. and the carriage ability british people a sufficiently aware of the informs of keeping a check on our elected leaders will be combusting. certainly you know enough of an independent media probing these issues for it to be something that i think people will be concerned about well you may be trying to talk you may have independent media but there is one case of torture case by any means a copyright case but richard wire was young kid you say citizen who file

and oil exploration off of top when i was the u.k. brandishing its military might almost three decades after war with argentineans raging against revived colonialism. new in moscow i now try as i could to have you with us here on r.t. our top story u.n. states have agreed to tone down a proposed security council statement on syria in a clear sign the world body is moving toward a united stats russia said it's ready to back a resolution as long as there are no automated was aimed at the assad regime or his middle east correspondent paula sli or hasn't. the statement as such is a statement that would not speak legally binding and this is because although the violence in syria has been ongoing for more than a year in that time security council members have been unable to agree on a resolution a resolution by comparison is binding and statement is not but it does head intentional to become a resolution at the mesa stage now watch say it is battling the statements and has said it will back a resolution that will be formulated from the prop

and the u.k. have been pretty much on the same page on everything on syria both want to see regime change as prime minister cameron put it not through revolution but through transition both leaders the military intervention. undesirable and both say they're looking to work with russia to bring about a peaceful outcome on the red president obama said the window for a diplomatic solution is shrinking but most experts agree a war will not solve the problems but will create a million new one. with a so-called war on terror is just one of the reasons the west says it gets involved in conflicts uproot the other is bringing democracy but it's the u.s. and its allies criticize other countries that have that freedom and human rights the thirty to go to spots is closer to home and experience. the u.s. and its european allies have many things in common security politics and a familiar. outsiders about that your words of democracy iranian people have a universal right to assembly and free speech this is the c

and the u.k.'s show of military might of the disputed falkland islands almost three decades after the war has argentinians against what they say has revived colonialism. eight am in moscow i mad très a good to have you with us here on r t our top story u.n. states have agreed to tone down a proposed security council statement on syria in a clear sign the world body is moving towards a united stance russia says it's ready to back a resolution as long as there are no ultimatums aimed at the assad regime moscow's lending its way to the efforts of the u.n. the syria envoy kofi annan to broker peace or his middle east correspondent paula sleep. the united nations security council is expected to vote on was a draft statement about syria the statement as such is a statement that would not be legally binding and this is we close over the violence in syria has been ongoing for more than a year in let us high and security council members had on the naval to agree on a resolution on a resolution by comparison

from our u.k. student will stand trial for posting what's being called a grossly offensive message about the afghan war on his facebook page. and a russian drug users may face up to three years in jail as authorities step up the battle against addicts all this and more dot com. he. says. the official. from the. video. feeds. on the. long running dispute between britain and argentina again heating up ahead of the thirtieth anniversary of the falklands war this time it may not be about sovereignty of the islands but oil exploration off its shores was hard for better reports. first the prince then the warship all apparently routine but toward tina the message is clear. it's a regional and global issue because they're not rising in the south atlantic one more time try as we meet we can't interpret it any other way here sending a destroyer the words out that is huge in modern along with the heir to the throne we would have liked to see him in civilian clothes not in a military uniform. on the island sov

and the u.k. have been backing guerrilla forces in syria for the last year ok and we can't erase that from the history books that has been happening that's been admitted by the u.s. state department it's been admitted by the u.k. foreign office and all the sudden you're backpedaling now saying that it's all you know nice arab spring nonmilitary intervention and we're going to help the opposition it doesn't work if they want to help syria they need to engage the syrian government in diplomatic talks on neutral ground it's quite quite clear president assad is not going to. you know accept the kofi annan peace plan as the western countries are still giving aid to the opposition and you know he's already been caught through proxy smuggling on xp over the border in jordan but also his arms going over the border eleven on where these coming from ok we know these are coming for sure coming from the u.s. the u.k. their allies in the region and doing this through a third party. coming your way in a little

oil exploration off the falkland islands has the u.k. brandishing its military might almost three decades after the war with argentineans raging against the big hole revive colonialism. it's now i ben and i slipped into negative territory despite the rebound so i mean about twenty minutes time i'll have lots and think it's. eleven am in moscow i met good to have you with us here on r t our top story u.n. the states have agreed to tone down a proposed security council statement on syria and a clear sign the world body could be moving toward a united stance russia says it's ready to back a resolution as long as there are no ultimatums aimed at the assad regime or he's middle east correspondent paula smear has more. the statement as such is a statement that would not be binding and this is because although the violence in syria has been ongoing for more than a year in that time security council members have been unable to agree on a resolution a resolution by comparison is binding a statement is not but it does have the potential to become

in the u.k. would invent that is just under a thousand percent of g.d.p. there has already banned this magnificent crash in the u.k. economy cam'ron. he n r was born and mervyn king over there to bank of england through price manipulation. are are hiding the crash essentially but now the people on the street are beginning to feel because for example gases are all time high priced in british pounds that's the result of oz born sneaking in this one hundred year guilt and other quantitative easing techniques to try to hide the fact that they're standing in front of the curtain that's hiding like the wizard of oz this multi-tiered who british britain has over five trillion pounds in debt that's there they're not even officially keeping other books well ok let's talk about this hundred year guilt however who sold it to them if you're sitting at the table discussing a derivative or a product or on the goldman sachs you can bet your the market so look at the prospectus speak and the way the treasury sold this to the media who doesn't ask the questions a treasury

but my concerns for the u.k. are much more significant than what may or may not happen to prudential. it's about job creation. it's about equality in this country. >> if the pru were to move to asia, its shareholders were protected, but there would be less money provided by insurers for investing in britain's economic future, which is why the pru still hopes brussels will back down. >> you've been watching "newsday" from the bbc. >> a reminder of the main news this hour. the british prime minister david cameron is in the united states for an official three-day visit. the situation in afghanistan is expected to dominate his talks with president obama on wednesday. mr. cameron became the first foreign leader to be welcomed on to the presidential plane air force one. lucky man. stay with us. headlines on the way next. >> 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. >> at uni

so we're expanding u.k. export finance and setting out new plans to help smaller firms in new markets. exports abroad must be accompanied by investment at home. britain has a reputation as a remarkably open and welcoming place for investment. we must never allow protectionist rhetoric to creep into our political system. >> here, here! >> instead, we're actively seeking investment from overseas pension and sovereign wealth funds and working to develop london as a new offshore market for the chinese currency. we also want investment from british pension funds and british infrastructure, and we're now working with a dozen of the large pension pension schemes specifically on that. we're the first british government to set out a national infrastructure plan the projects we're going to prior toize in the -- prioritize in the coming decade. the roads, railways, broadband networks we all need and we have identified. i also believe this country must confront the lack of airport capacity in the southeast of england --

and thousands of workers in the u.k. left struggling to find employment to mob justice some of the learning they were placed on a secret police backed blacklist our top stories this hour. international news and comment live from moscow this is r.t. moscow's ready to back a u.n. resolution on syria as long as it contains no ultimatums aimed at assad's regime that's according to the russian foreign minister who's voicing strong support for the u.n. special envoys roadmap to peace in the conflict torn country u.n. security council is set to consider voting on a draft statement on syria later on choose day sarah firth has the details. russia remains very much focused on what it said all along which is that it is calling for a cease fire to hold to the violence in the country but it's not going to back anything the same as putting in the ultimatum on the syrian government to. talk about solution is seen as simply backing one side and now we know the foreign minister lavrov was meeting today with his lebanese counterpart and h

except sovereignty our sovereignty is not in question but the u.k.'s posturings left its subjects there high and dry argentina's blocked supply ships in retaliation this lump of rock may not seem worth fighting over its thirteen thousand kilometers from britain and cost seventy million pounds a year to defend but with oil exploration just beginning off the coast there is suddenly a lot more to lose. respect in has become more sort of widespread in terms of exposure but i think it's it's helped to ratchet up the crisis between britain argentina rushing to respond to if you if the four probes in the waters to the north contain lots of oil and gas reserves the commercial exploitable then of course there's a fear that britain in the falklands beauty would never wish to negotiate about the future argentina claims it's being robbed in britain set to yield up to sixty billion barrels of oil from under its nose no surprise the u.k. still refuses to negotiate then after years of origin time protests but others are now listening the islands are amongst just six