u.k. economy what would happen if the u.k. economy in the city of london suddenly started to a bay the law with the u.k. economy crashed immediately or would it crash over a period of a few months on the events so it's are in hot minutes so you're talking to said debt level of six hundred percent of g.d.p. you so dependent upon the dead of the rising to keep the entire mechanics of drive the leverage ing up going forward and maintaining as astronomical house process in london and the salaries of those gauze used to writing off on the top of debt as soon as that sentence and from growth to decline. that's going to be the biggest downturn in this financial crisis is that it warps anything that's happened in america to go from that level of dead to suddenly dead on growing anymore so when it hits you should it incredibly quickly and of course the classic thing as you said yourself really just recently did the basis of the english one initial successes fraud everything from you know all the way through or when people stopped losing

u.k. economy are simply unacceptable. bradley manning, the american soldier accused of leaking classified documents to the wikileaks website has made his first appearance in a military court. 10 people have been killed. several others injured in western kazakhstan. clashes took place between police and strike oil workers campaigning for higher wages since may. >> this is a celebration that the authorities were hoping to see. scuffles between protesters and police turn into the deadliest unrest in kazakhstan's recent history. the protesters are oil workers who have been on strike since may. the oil company, the main employer in this town, declared their action illegal and fired them. in protest, the workers have been occupying the main square since july. the frustration boils over on friday, when local government burst in to halt independence day celebrations. they set a christmas tree on fire. a number of government buildings were also set ablaze. the authorities say the protesters attacked police officers who were forced

u.k. economy. >> here in the heart of british democracy, the union jack has pride. the eu flag is not given quite the same prominence. the yellow and blue symbol of europe is not as popular as the domestic model. the british have always preferred to set themselves apart from the mainland. one of the largest financial centers of the world long served as a representation of british might. then the global crisis hit. former bankers used to be heavy hitters in the financial world. today, they make suits out of fine cloth and are only beginning to earn a living from it. >> there was a period about two years ago when there were a lot of people coming in to buy their suits. then they had to come in and collect their suit. with a huge wave of redundancies, there are not that many people back and buy suits. >> they also lost their jobs they say that british politician should he be lesson that they learned to focus on their own interests and to move the center of power away from brussels and back to london. >> there is a lot of centralized policy makers in brussels that do no

u.k. economy as well. >> many are wondering what the bank of london will do. 9-10 of economists belief that another year will go by with no change in the cost of borrowing. so what does that mean for the housing market despite all the uncertainty average prices rose this year and it anticipates another small rise in 2012. >> labor market conditions are likely to remain pretty weak and that will keep potential buyers on the sidelines. but there's no sign that we're going to get a new flood of supplies either. thanks to low interest rates will not get in a lot of distress selling either. but the city knows that what happens next year will to a a large extent show what it will be. >> nearly 15,000 of the club supporters gathered in downtown san diego. there were safety barriers left with police using water canons to disperse the crowds. the hungarian parliament has passed a controversial law and has faced fierce. the current president of the bank says this changes amount to a government takeover. >> heavy rain in bolivia has one of the most intense rainy seasons and has continued to cause dest

u.k. economy as well. >> anyone with a mortgage or savings will be wondering what the bank of england will do about interest rates. the survey reveals that nearly nine out of 10 economists believe that another year will go by with no change in the cost of borrowing. so what does that mean for the housing market? despite all the uncertainty, average prices rose slightly this year, according to the nation might come and it anticipates another small rise in 2012. >> labor market conditions are likely to remain weak. that will keep potential buyers on the sidelines. at the same time, there is no sign we will get a new supply of homes coming onto the market, either. interest rates are not getting a lot of distressed selling. >> the city knows that what happens here next year will to a large extent reflect what develops in the eurozone. . bbc news >> there been violent clashes in chile. nearly 15,000 of the club supporters gathered in santiago. vessels were thrown. police used water cannon to disperse the crowd. authorities detained more than 140 people. the hungarian parliament has passed a con

u.k. economy back on track to actually have sensible policies for the city of london and then to a to kill a to view the u.k. in a globalized interconnected global economy or we can argue that what was going to happen last thursday and friday is always going to be in the city's best interest but europe does need a strong international financial center and whatever your view is that the city of london clearly is europe's international financial center regardless of what happens in frankfurt or brussels do you agree just finally you're talking about what happens in frankfurt brussels in effect what happens to the euro zone the euro itself many predicting it could collapse what are your thoughts about that just briefly. here world the euro can't survive in its current format what we saw last week apart from the u.k. veto was once again a copout from the european leaders they haven't come up with a comprehensive solution so we're seeing a third a muddle through i don't think it's going to collapse but difficulties will remain to survive in its current form to the euro area needs to become a po

u.k. economy, and it's attracting more full-time workers, more over 50, and more men. >> the good news about direct selling is anybody can become a direct seller. a lot of people frightened by the world of selling. they say i'm not a sales person, but the reality is, in our company, the direct selling companies that exist in our association, one does not need to be a professional seller. you don't need sales experience. >> direct selling can take many forms. a single person going door-to-door or a team of people making profits together. but here's what makes it unique. there's no shop building, the retailers hold very little or no stock, and consequently, there are very few overhead. >> today, girls, it's all about aloe vera, so i don't know how much you know about it. >> this is how jeff and sue showcase their products. they hope these ladies will want to buy, but they'd also like them to join their team of salespeople. >> i've been doing it for 18 years. >> jeff's business went business in the 1980's recession. direct selling, he told us, has transformed him. >> it gave us an income that's

u.k. economy by leeching it of all its financial insecurity through austerity measures he's living in the seventeenth century this guy the fifteenth you know the twelfth century and then we have to turn finally to a few little images here max the kaiser report audience has been amazing at providing some of the best art work first i want to turn to one that was a big hit this is. the says. this is max kaiser tearing down the city of london with the big back that's fantastic. that's me at fifty feet tall and then of course when you're when you burst i blood vessel you know when it was really bad we had the max an eight or. chorus right there was fantastic so so let me get this straight to recap santa claus on the north pole has endured a hostile raid by kohlberg kravis roberts and the various the reindeer the wharfs and mrs claus been farmed out to a third world gulag we have david cameron has proved a lot of films economics max's exploding eyeball was the most viewed viewed you tube hit of the entire year and you got all the good stuff across most of i got a rubber chicken that's right and

u.k. economy. >> but surely you must have a view as an incoming secretary of state of what you need the budget to look like in order to fill those future force 2020 obligations and the vision that has been set out. what you seem to be saying is that if that money is not forthcoming over and above the 1% increase in the defense equipment budget, then there may need to be some changes to that package of reforms and spending. because quite obviously if you do not have the money, you cannot spend it. that seems to be where you're coming from, rather than saying that we need this as an irreducible core for the ministry of defense. >> one of the problems if i may say so and i am only speaking with seven weeks of experience, one of the problems has been the tendency to look from a inputs, rather than looking at required outcomes. and on the other tendencies has been to assume that concepts like efficiency, which every other department in whitehall would recognize, do not necessarily apply. there is a budget constraint, we know what the outcomes we have to deliver our, and as with every other departme

the idea of a two tier europe or the euro zone and the rest doesn't sit well with a major economy like the u.k. . the euro is successful because a lot of outrage depends on it but on the other hand to us if there's a group a central group which are in the euro as another group which is not who makes up the rules which control the single market it appears that any plan agreed upon will have to have germany's backing all merkel dismissed the idea of germany dominating europe as absurd although that's how it's increasingly being perceived for better or for worse tests are still you know r.t. brussels well the european reaction to the possible downgrade housman very say fall with some calling it a wake up call this claim it amounts to a political attack but sir francis lynn the managing director of brokerage holdings . these rating agencies should have downgraded the ratings of euro zone country already after two years actually more than two and a half years the s. to nowhere close to a solution what they have really have really tried to do patchwork trying to really come to market crisis we go ov

u.k.'s population. brazil is typical of the emerging economies, says one expert. it predicts that by 2020, oil- rich russia, which is currently in ninth place in the table, will have overtaken germany to take fourth place. and it predicts that india, with its population of over 1 billion people, which is currently at 10th place, will overtake france in fifth place. >> we can take a look at the markets now. when we spoke an hour ago, use of the markets in singapore were pretty quiet. how do they look at the moment? >> they are still pretty quiet. a month the market that are open, we have that japan nikkei, the cosby, the singapore index -- all lower. investors are away on holiday. it is traditionally a quiet time for financial markets at this time of year. but there are a few factors that we are still watching. it might propel the market higher. monday was expected to be the third busiest shopping day of the holiday season in the u.s. it is doug to mega monday. expectations were expected -- expectations were something of a windfall. the u.s. national retail federat

the idea of a two tier europe or the euro zone and the rest doesn't sit well with a major economy like the u.k. . the euro is successful because a lot of our trade depends on it but on the other hand to us if there's a group a central group which are in the euro as another group which is not who makes up the rules which control the single market it appears that any plan agreed upon will have to have germany's backing all merkel dismissed the idea of germany dominating europe as absurd although that's how it's increasingly being perceived for better or for worse tests are still r.t. brussels. from the onset of crisis discussions have been rife about who's to blame for the reckless borrowing that started it all from populist leaders to profit addicted banks of escape have nothing to point to the british euro and he called for a blue believes the responsibility lies squarely with germany and france. the first people to break the rules i think was in two thousand and three with the french and the germans by breaking the maastricht treaty sixty percent of g.d.p. rule so they've been breaking the ru

the idea of a two tier europe or the euro zone and the rest doesn't sit well with a major economy like the u.k. that's well actually it's important that the euro is successful because a lot of our trade depends on it but on the other hand to us if there's a group a central group which are in the euro as another group which is not who makes up the rules which control the single market it appears that any plan agreed upon will have to have germany's backing all merkel dismissed the idea of germany dominating europe as absurd although that's how it's increasingly being perceived for better or for worse tests are still r.t. brussels but haven't used an international consultant and from a belgian m.p.c. says the ratings agencies of meddling in an issue that's not their business. there is something basically wrong when they're rating agencies should become believers in the game i mean you don't ask a referee destroyed for it almost starts but if dean says he referees that's what he does this is a way of influencing went in the eurozone countries are going to try to decide on friday i mean this is an

the idea of a two tier europe or the euro zone and the rest doesn't sit well with a major economy like the u.k. . actually it's important that the euro is successful because a lot of our trade depends on it but on the other hand to us if there's a group a central group which are in the euro zone another group which is not who makes up the rules which control the single market it appears that any plan agreed upon will have to have germany's backing all merkel dismissed the idea of germany dominating europe as absurd although that's how it's increasingly being perceived for better or for worse tests are still your party brussels well what i look at it is financial roller coaster for many in europe as it struggles to fix its finances but at the same time some international investors are making record profits from all the chaos the ethics involved in making money or lack of ethics is just one of the subjects scrutinized by marx and stacy the late his kaiser report. what bank breaks the law they changed the law if the government is failing to do what they were elected to do they change the definiti

the idea of a two tier europe or the euro zone and the rest doesn't sit well with a major economy like the u.k. . actually the. euro is successful because a lot of our trade depends on it but on the other hand to us if there's a group a central group which are in the euro group which is not who makes up the rules which control the single market it appears that any plan agreed upon will have to have germany's backing merkel dismissed the idea of germany dominating europe as absurd although that's how it's increasingly being perceived for better or for worse. r.t. brussels as we await the tuesday morning reaction from europe the latest downgrade threats let's look at the implications they may have the embattled block francis loan is a managing director of brokerage and soon holdings he joins us live now from i thank you for joining us now fifteen euros a nations in one swoop has condemned page and finally broken through to all these countries do you think. well actually it's not all over do you ever since last year when their crisis first broke for greece this rating agency should have downgrade