it wasn't possible like in the united states or eu to have a crisis like we did in 1930s. the bankers, you would talk to them about debt and mortgage bonds and they would say things like for this to be a problem you would need a sustained nationwide decline in house price and we have not have one of those since the great depression. with the implication since the great depression was impossible i think of the financeal crisis mostly as a story of everyone getting the same bad signal from the market. the regilators were easing off in various ways and what they saw was nothing happened, the economy degree and inflation was level and everything looked great. bankers were loosening credit restrictions and they saw the faults were going down. it wasn't dangerous to make a sub-prime loan for about ten years. every year they inched it wide skwr and the defaults were fine and now we know house prices were rising so you could sell your house. everyone saw home owners got rich b b with buying a house and installing a pool and you can retire on that. when you get to a place where you

eu and united states. however, there are observers here who are critical or disappointed the eu has not been as forceful as the united states. also recognizing the united states is one country where eu is a many nation organization. that needs to reach unanimous decisions. i think there is, depending on who you talk to, a sense of recognizing reality. they would like to see any sanctions and see more forceful sanctions given some things this has not had an effect on the ground as duncan said. >> david stern in kiev. thanks for joining us. >>> now, other news. north korea has completed its second live fire military exercise in less than a month. the drill took place near the island west of the korean peninsula. it lasted a few minutes and unlike the similar drill, no shells lasted in south korean waters. i spoke to john in the south korean capital for the latest on these exercises. >> these latest drills appear to be more limited and shortener duration than the ones we saw a month ago. the government said they two minutes at 3:00 local time. 50 shells were fired, all landing in territorial waters. last time

that a political resolution to this situation cannot be accompanied by pressure from the eu the united states or russia well it all comes down to these regional in government and self confidence and passion as a centerpiece for my reaction will be sent to a seasonal stuff about life and in acting. god is the time in our region is the resolution of social and economic change in healthcare and education financing and each region seven season according to his own means. the officials didn't say whether the ukrainian government will retake this building by force but they did say they believe the activists inside are stockpiling weapons. yet this year are digging their heels their numbers and building more barriers. the three ccd donetsk ukraine. also on the sleds across much of this blog and all but the beads in it yet. the whole let's talk about this forty eight hour deadline given out by the ukrainian government's osteen pro russian activists in the last to stand down or face full of smoke on the fourth we took a bath well is still not clear what will happen when the forty eight hours is over on t

or talk about real sanctions. >> there are a couple ways to think about this, none of which may be right. it is bad for russia, the eu, and the united statesere were escalations around the enron sanctions. it is hard to know what putin may or may not do, in terms of moving toward more of a eurasian approach toward his influence. i would say it is worse for russia than it is for the e u, if things escalate. russia is already in a recession, less than one percent growth this year. we would not 11% off the economy if the eu stopped buying energy from russia. that would be terrible for russia. >> the stock market fell off three weeks ago, what investors are pretty happy with the way things are being handled. >> short-term, a lot of uncertainty. longer-term, the valuations are pretty compelling. you can get a pretty good dividend yell -- dividend yield. even if you think rational forces will prevail, it is not necessarily a rational thing. >> there is a sense this problem can be managed, if we all focus on making sure the ukraine does not become a failed state. the more we do to help the ukraine stabilize, politically and economically, the more

united states for the eu. you will be very important for us to know that russia or any other country supports us in achieving our goals with physical and financial support. thus i guessed wrong on that night and the death toll mounts time is running out to solve this crisis if the caucus and cctv done yet. east in ukraine. afghanistan's election commission has delayed releasing the results from the presidential election that was held on a ripple effect to allow for recounts an order it's the results were expected on those nineteen counts of about top of the seven million but so far put the former foreign minister abdullah abdullah in the league and the ex finance minister was robbed on a common sight to second place the full result is now expected on saturday and must be looked into by a separate commission before the final result is announced and that will be on the fourteenth all mighty. and still we didn't on afghanistan we can tell you that to others about christ on the his stride care of there with two militants including a come on that having been killed as a crop own pot of their hideouts in the maori dis

united states of europe. morning eu member states. they must agree to deepen political and economic integration or risk being marginalized in a globalized world people start thinking how much to be with us the main candidates for the liberals. across europe as this election in ways is a bit special because. if your pasta wednesday election. you could become the next president of all the european commission the aim is to have more transparency that the austen festival. what is difference between the metal studs and the other candidates. matt made a deal that ended all the candidates of the concept this insertion into the hall for the countries in europe to come to accept kids are in power the prime minister and also the country's socialist white collar and the prime minister and invokes there is a crisis. we are not capable to manage this crisis why because conservatism may be defending the status quo. as such this habit. i almost killed me. in fact the applying data old spy the recipes that use it to make a mold apps to emerge from the crutches but making gold taps is one of you when your solution. we all say unique naturally fiscal dis

saying the united states or acted first. the first 20 years of the euand nato, we are accusing russia of intervening into the former soviet union. what was the european union doing for 20 years? i mean -- we have to somehow overcome hypocrisy. >> i happen to like and respect men very much for all you can do and cannot do. there are some things that women can do a little better. i found in my long history that men think in terms of locking horns. it is always very important to win . somebody has to win over the other. anybody who has been a mother knows very well if you are going to have peace in a is necessary.mise compromise takes humility. compromise is not easy. , i find the word compromise seems to connote weakness. it is not weakness. it is a strength and it takes a compromise.o find a the compromise means that somehow, not going to the person , whoever, putin or maybe obama, whoever and somehow having a real sense of where that person is coming from. maybe it's coming from bad things. maybe. maybe that are huge and misunderstandings from the basic

u s managing to visit a match or contents of the teacher we checked in toronto the united states planned to spend six hundred soldiers to the optics. besides the us and euare going to spend at least depression affected by sanctions since that time as the son of thomas keating the price ukraine. his coaching will be saved by referendum. the mayor insists on immediate adoption of the law on local but this is the conducting of a referendum on may twenty kids it will help to conquer the seat that disc into the chilly stated some of them attention. meanwhile the minister of interior has counted the number of suspects is and the number of buildings captured by them in the east walk in this tiny thinking of looking to get him used to getting out all the keys to the country. he is crazy local police department is controlled by the fact is that it is an epic eighteen ninety security cities bidding to my mum on controls come up the scholastic parent is called daddy cool tied to the police department as crusty skin tomatoes green and guide the tv talent and to listen to what could be cleaning channels was bulky and is a vast education is similar in numbers. at aro

let's say the united states and germany and all the eu nations were either because of something very bad that russia did, or because of some magic wand has been waved and europe isn't all that dependent on russian oil and gas anymore, we were able to come to some agreement among all these different western groups that russia's oil and gas sector should be sanctioned. that gazprom and rosneft should be cut off. how would exxon, shell, bp, the other giant multinational oil and gas companies try to wield influence with the u.s. government about a policy matter like that? >> i mean, even in the, two or three rounds of sanctions that have gone on so far, you've sanctioned individuals that are from rosneft, and it makes it a complicated arrangement in terms of doing business with exxon mobile, doing business with bp. it doesn't mean you can't do it but obviously that's something that can become more difficult, and, you know, i think for shell it has to think about its reputational risk of, you know, being seen, you know, in russia in the middle of the crisis. and shell has to be careful, because obviously, you kn

or the united states acted first. because you have to even the past 20 years of the eu and nato, we are accusing russia of intervening into the former soviet union. what was the european union doing for 20 years? i mean, we have to somehow overcome the hypocrisy, but -- >> i happen to like and respect men very much for all that you can do and all that we can't do. but there's some things that women can do a little better. i found in my long history that men often think in terms like locking horse. it's always very important to win. somebody has got to win over the other one, or settle scores with the other one. whereas women, anyone who has been a mother knows very well that if you're going to have peace in the family, compromise is necessary. compromise takes humility. compromise is not easy. men, i find often in the united states, that the word compromise seems to connote weakness. it is not weakness, it's a strength and it takes a lot harder to find a compromise. now, the compromise means somehow, going to the person, whoever, putin, maybe obama, i don't know, whoever, and somehow having a real sense of where the

or her to go somewhere else in europe. a dangerous border fence and my grant did looking for a better life to the north. it's an issue the united states and the eu have in common. david shuster, al jazeera. >> meantime, immigration controversy continues along the u.s./mexico border. on al jazeera america, we continue our original series called boa"borderland," followi migrants including a 14-year-old boy trying to reunite with his mother. here is a look. tran [ music ] >> the last few years have seen a dramatic surge in the number of children attempting to cross the border. in 2012, there were 25,000 unaccompanied children apprehended by u.s. border patrol. the majority came from central america. 13-year-old omar lopez, william also hopes to cross the border and reunite with his mother. >> how old are you, william? how would? are you headed to the u.s.? >> si. >> and where are you from? >> el salva dor. >> what's it like in e el salvador? what's it like to live there. >> do the gangs stop you from going to school? does speaking spanish.) does he ha >> who all is in the u.s.? your mother and father? >> mi mama. >> and when was the last time you h

or her to go somewhere else in europe. a dangerous border fence and migrants looking for a better life to the north, it's an issue that the united states and the eu have in common. david shuster, al jazeera. >> interesting perspective there. don't forget the third episode of "borderland" airs tomorrow at 9:00 p.m. eastern. still ahead on al jazeera america, the hands of a master. what scientists are learning from the works of a famed 19th century sculpture. a museum denoted to the mass der kerr in tiananmen square stirs controver controversy in china. >>> south africa marking 20 years of democracy. in 1994, the country held its first free elections open to all races. those were the votes that made nelson mandela president. south africa holds general e legs in two weeks. >>> a new museum opened in hong kong marking the 1989 tiananmen square protest gives a rare opportunity to see an important bit of history. some in china just want to move on. a report >> reporter: with a rip of a copy of tchina's state newspape dwighted 5 years ago, the museum is declared open. it's designed as a maze and takes the visitors through the events leading up to the ju

united states and the eu. parties to seek a peaceful political solution. ukraine's future must be steered by the aspirations of ukrainians without intervention or influence from outside forces. thank you. think you, the representative for the republic of korea. from theike to hear representative of argentina. >> thank you very much, madam president. let me begin by extending my the human rights report on the ukraine. but repeatan we say what has already been said question mark argentina the growing see situation of tension in the ukraine, its potential spillover effect throughout the region with great concern. repeatse can we say but that we are particularly and deeply concerned that there have been violent clashes and this may bring us further away from possibly finding a solution to this crisis. destabilize the situation. for that reason, my country once again reaffirms the fact that we believe it is essential for us to hold to the purposes and principles of the u.n. charter, particularly nonintervention in the internal affairs of other states. , eitherrvention military, politically, or economically. we understand the action of any state or international or