tv [untitled] October 13, 2010 2:30pm-3:00pm EDT
it will probably can go on for another four five six years and what about the german people is their political well in the german population to carry on supporting. so so not really but the political class almost unanimously it wants to support it so there are some dissidents but it's part of the german reason of state that we're good europeans that we're good citizens of the world but. for this we've forgotten and that was what my what my dissertation was all about fifteen years back but we forgot that germany also has interests national interests of its own which of course we should cooperate and of course we should be good partners but we don't have to do everything and so the political class is firmly behind the euro so in this case it doesn't matter what the population is thinking are you one who believes that as a concepts the euro is fundamentally flawed it's basically within a currency area have to have flexible factors of production capital labor goods
industry and we don't have that in continental europe labor is not moving freely capital is moving freely goods are moving freely but as long as you don't have fully flexible markets you don't have an optimum currency area and also between germany austria the netherlands the benelux states we did have a defacto union currency union for decades they just did and they just followed the bundesbank and nobody talked about it worked perfectly but within that region you basically had an integrated market but to throw together greece and spain and italy and portugal and ireland and germany is sheer lunacy i mean sheer lunacy and they said we throw together so it will grow together but that is not promoting growing together the other way around would have been better to liberalize markets to keep national currencies to be able to just to shocks like this so what should we. do you know that should the year is the end be slowly but steadily dismantled
should we wait for the u.s. to collapse and i say ideally i would go back to a core europe and i would let the drachma return and the peseta return and the lira return and we still would have a european union it's not like it would be the collapse of the european union quite to the contrary if we allow those countries to set their own economic policy again and to be sovereign in their currencies we would do europe a service we're doing europe a disservice by having this artificial currency imposed on it it can only lead to political tensions like in greece where the greek population now has to suffer taxpayers germany has to suffer the only ones that didn't suffer in greece were the banks because they were fully rescued so that's to me is a deal that is not quite equitable the european central bank or recently said that countries leaving the euro is a would essentially be committing political and economic suicide what's your no not
at all i mean it's of course very difficult to leave because you would have to do a lot of administrative measures you would have to prepared very well and of course international capital may be shocked for a moment but in the end was the right supporting measures it would need some preparation it would need careful planning it would need careful execution but of course you could return greek to the drachma and you could support it you still could support it with credits i mean the european union could step in with credit for a traditionally period but we just would not underwrite the euro we would underwrite the greek economy as a sovereign but integrated nation are you a fan of detroit's mark for the torch marks sake no i'm a fan of the deutsche mark because it was a good currency in the bundesbank was a good institution and i think the rules that we had then were good rules for germany and also for europe i mean what what happens if you have a strong economy like germany's of course the doj mark would appreciate. over time
which again would help the neighboring economies to export more so it would give purchasing power to the germans and so good by itself being neck mechanism off adjustment in the end a market mechanism that would help if you have a crawling peg or something it would help adjustments to come more easily into just words that would be good for everybody but hasn't the euro been more stable than the deutsche mark was in the ten and twenty years leading up to the year race introduction and lower inflation might as well isn't that a measure of the euro being quite a successful currency well we have to talk about that inflation if it's really low if the official inflation rate measures all that is to measure but in the end you had wage inflation you had goods inflation in spain in italy in greece that leads us to the current problems if we had to trust those in between meaning revaluation of the doj market devaluation of the present which we didn't have so what we did was postponed adjustments. and create unhealthy structures and i'm healthy
development saw as long as we don't have total economic union which we won't have for a long time we should not have one currency as an investor what would you rather put your money behind to watch michael year way. i am an investor and i'm not putting my money behind any paper currency i buy stocks which is real assets stocks are tied to the economy they're not dependent on the currency per se i buy gold or buy sell via buy agricultural land i don't buy bonds bonds or paper money and we have a highly inflationary and unstable and on solid monetary policy as a reaction to the crisis i mean i think as an emergency measure it was ok to print all that money because otherwise we would have had a real collapse so it's time to move back to normal and we don't do that we continue printing money and the economies are growing at an endemic pace the most so i'm not putting my money behind any state behind any band behind any. paper
currency i'm buying real assets although germany's economy is doing much better than was expected following that the crisis is and it's i think i just did the best second quarter grace rates that i had for twenty years or so question of how you measure those things because we fell down quite a bit but that's because of our export dependency so the economy went down a lot because exports basically imploded and now they're coming back so we have this swing but yes in the end we have a strong economy we have lots of market leaders we still have the middle stunned the family own little stunt companies so i actually am investing quite a lot in those middle ston companies but also in some of our blue chip companies what do you think the effect of a collapse in the year is a would be on the regional and global financial markets some are saying that it would be a disaster on the scale if the collapse of lehman brothers is yes it could be drastic but again i'm not expecting it any time soon because i think germany for the wrong reasons will subscribe to the euro but it will underwrite it move
continue to underwrite it so we won't have that but in case it happened it depends on whether it will hit us prepared or non prepared and right now we're doing everything to prevent it but we're not preparing for the case that it might happen that that's the fallacy in my we should have a plan b. and if we don't have a plan b. it could indeed be drastic and what would your plan b. be of course a plan b. is to think about return to national currencies or to return to the mark block or a southern bloc or whatever to have currency union some on economic regions that are more similar that are more homogenous and we don't have that we should at least start to think about it because it's not going to be the end of the world i think even it's it's preferable but you don't have to go as far as you just have to admit that it's not going to be the end of the world and that we have to think about those things and policymakers and officials should think about it so they have plan b. more countries are joining the euro zone all the time the next one is going to be us . junia which will take up its place on the first of january next year how does
more diverse economies joining affect the stability of the euro i don't think much because the euro is already unsustainable unsustainable and very long run it's already too. diversified to many different countries so if the two or three more want from from the fringes it's not going to be more different but of course i'm in favor of strengthening europe the european union but in my point of view again the euro has nothing to do was a european union rightly could see. us also thank you very much thank you. for sure is that so much of you going to make a lot of people here you look at news and alternative media outlets are challenging
the dominance of traditional heavyweights in all languages why are viewers looking for alternative. wealthy british scientists like. time to write. market why not. come to. find out what's really happening to the global economy with mike's culture the no holds barred look at the global financial headlines into a report. forty two thousand americans die each year from car accidents only
a thousand. seven hundred thousand people. and thirty two thousand will kill themselves cancer in all its forms kills five hundred sixty thousand of us here part disease is even more devastating it shows over eight hundred seventy thousand americans every year. almost seventy years of the red machine which so we had people wanted to leave in the past. week and to make changes to somebody was you need. to leave. but was it possible to change the whole country's regime so quickly. and with. the polls and the fundamental changes in the state clinton people's minds on r.g.p.
. more news today volunteers once again fled up the field these are the images the world has been seeing from the streets of canada as. corporations are today. they faced it this is not a provocation little warning that. it should step before you shoot us a pretty tree because they have no idea about the hardships to face. this is it all of them to loosen. the army the life of the u.c. is the most precious thing in the world. is of self-sacrifice and heroism of
tell stories russian code say no to one group's hardline tactics is battle against drug addiction filmmakers may have ruled methods and legal but supporters say they were. antifreeze britain's foreign secretary to moscow for a friendly visit often gives a frosty anglo russian relations with both sides to build bridges. from the first civilian trial of a guantanamo detainee is one of the u.s. media's predictions of police cordons traffic gridlock and security threats come true. and state benefits pay more than jobs in the u.k. causing generations of unemployment that statistic show it's got the highest number of workplace households of all the large e.u. economies. there are top stories for markets in the it's no twenty two forty five
moscow time next door the latest from the shanghai masters is now telling someone who has got all the sport for you. you're watching sports news hello and welcome and here is what's coming up in the program russian for buller's rise to the summit in european qualifying group one victory away to macedonia. usa for has a decision to make after found violence interrupt. a match in genoa. and more violent scenes in china where a brawl in a basketball friendly turns into a martial arts exhibition. so it's been a holy successful week for the russian national football team who grabbed all six points from their latest away games a victory against ireland followed up by another one over macedonia on tuesday
night which is ample float reports from squad here. russia will end two thousand and ten on top of group b. after a tough one no victory in macedonia but russian shared nowhere near the same kind of pride for a very managed to show in on in just a few days ago the most important thing is that the cat added later on his behalf i should come away from too tough a way trades with maximum points. heard of the way. most of the. world from the dirty side but if you have six points and so devoted to her work. performance allied with the hurt the socks off so you know the question. is was there a fight strike from alexander because your cough after only eight minutes was enough to give the russians victory in the endemic and about it more as they were dominant in the first half of the game slipped into second period and macedonia could about a share of the spores pops deservedly how do you know i can fear not save a second home penalty i think of a cat lady who went on to say it was difficult for russia to cope with macedonia playing so many long bowls. better to. tell the world before it does go
will be more do go the girls deserve to go a little wrong. because of the pressure they get some opportunities and more out of rome out of football but once again our exotic excellence has been in great form for his club sides in each over the last month or so i tried to carve out form over to the national side but high praise from his manager did have a can't because you're obviously himself is very don't whited but he said the pitch certainly didn't help russia. much i'd say that the pitch conditions were a little bit more difficult tonight too than they were in niland the bounce of the ball was very unpredictable which added to the challenge however we control the tempo with macedonia using the long ball against us as we could school but one new and three points is a good result of. russia came into these two tough away matches on the great depression following september's defeat to survive here but a combination of
a bit of log and. going by way of something painted a rosy picture of the kind is confident going into the second half of the qualification campaign well who. you vote for i agree with you one of the last. in brazil we are doing that. it is improving in every go in the world the more so russia talk group b. on mine points off for games have become for example a plenty of time to prepare his side for the next away trip to the hearts of drawn causes of the group so far i mean yeah i'm not much will get away march but you probably don't actually skopje macedonia. also in group b. slovakia and island share of the spoils in julie now while surprise package armenia followed up last week's win over the slovaks with another one against andorra but of course it's russia who will close out the year looking down on the rest two points clear at the top. meanwhile you're
a phrase investigating into the violent scenes involving survey fans which pools that qualify in that city to be abandoned pretty much clashes in genoa has already delayed the kickoff before it was called off after only six minutes the raf re-imagine pool will be consulted during the process possible sanctions from here for include a reprimand fine or stadium closure or even disqualification from current and future competitions the events in general will be discussed at the meeting on october the twenty eighth. and some more results from across your of the shock of the evening was in baku whereas there by john down to turkey while england and montenegro are still on between group g. out of joining their fixture at wembley and also in scotland the hosts came back from two behind before fernando lorando school the winner for spain. in tennis rafael nadal and noble djokovic shall both safely through to the last sixteen at the shanghai mosque as the doll with
a straight sets win over stanislas of the. his seventh in as many meetings with the swayze who will now face the thirteenth seed you've been melson for a place in the quarterfinals. and they're really a joke of it should be the big serving call to bondi beach in straight sets as well six three six three the second seed mates frenchmen rashad just can next who defeated aaron ost gold is. now it's less than a couple of weeks to go until the new and the season tips off in america in the meantime teams travel around the globe for exhibit sions as did the clippers and the spurs and it turned out to be a good one thousand mexico treated to a real drama chris kaman quotes by one off to eric greitens miss for all the line by the spurs still got time i look who is joining the last play coach manage anomaly with gregg popovich no way around in the huddle and it was a good play because ricky gary got a clean luke and down the three hours had one last chance to turn it around but it
was too tough for kaman to go in san antonio held on for the big three and maybe a lone coaching korea in front of janov there were. adding call interest there was completely. in a friendly between china and brazil in fact the game have to be whole to doctor it became very far from friendly by the time we pick it up townshend was already flying high watch the ball then left school a nice tackle there by chinese player to set it off all hell breaks loose china had already was ejected by that point for arguing with the referee about a hard foul on one of his play as the media were reporting that the brawls will likely to result in fines and possibly suspensions from both national and international basketball federations. and finally we continue profiling cape shell clubs and today we had north northwest for a closer look at scott same pit as big and on course if reports.
russia's northern capitals say petersburg is the home to star athletes like a boxing giant make a lot of aloof olympic figure skating champion you get a pollution goal and of course arsenal's striker andre out of shopping and in the last couple of years the city's ice hockey team had been accumulating top players including from the n.h.l. to stake a claim for the gar in comp. first off scot is an old soul and yet not a russian abbreviation which means the central club of the army hence the nickname army man even though today the players are far from being an activity in minutes right now let's jump straight said that history this team has never been crowned champions in either day us asar or russia however it's becoming increasingly evident that sky are becoming russia's next major i saw the powerhouse the club's twins attend star studded roster being only one of the factors on the road to
success as scott and kontinental hockey league president alexander madrid if explains its with the fullness of the team or because all would you go over really well so yeah but the losses over a number of points out of a season and go with what it was last will could demonstrate skills i can trust on . a locally or full killfile about the evils of people who are far away for a lawyer for the core course there are some names that might ring a bell for an avid fan of the national hockey league alexei yashin getting a box of moxie mocking again of all these guys were at one point instrumental in their respective n.h.l. clubs for former new york i did their yosh in such company is obviously a plus in his hands for the guarin cup first of all it's a lot of the control players so far it's all right. so it's making. them because they are following the red on it's a lot of guys played pretty much in the final from the start of
a different. environment but that again it's so far it's been a great city before and the fans are trying to see for starters you can on the last year was a lot of soul dollars and not a lot of fast influence this place has been exciting to bear didn't do well in the playoffs but i don't think that their existence in twenty ten head coach ivan sonata picks up the reins from compaction a diary smith who led the team to see. second place in the regular season a longtime canadian ex-pat having lived in italy for the last twenty five years as a nazi admits that reading is syrian it is so far his biggest challenge in russia as for the game of hockey well desire to win is probably universal in any country the goal is always to be the best you can be and of course we want to be amongst the best so. you know we we have to understand that is what is expected of us we have the capabilities to feel just which we have to make to be amongst those
best poor best teams and that's we're fighting for you getting a back up spent ten years in n.h.l. san jose sharks where he became an all time goaltending leader in several categories but his star status seemed to have put a major strain on the management's wallet so after becoming a free agent at the end of last season he promptly signed a four year deal with st petersburg sparking competition among all of the cape shells forwards as to who will score at least a goal against that sioux thousand and eight world champion however that's nothing to get used to according to an a block of sunday's a two dollars and win the game and especially now in this whole where there are a lot of good teams and a lot of surprises and sometimes people expect you to win every single game and almost one of all teams out on but it's not easy and you have to challenge yourself every time and. so far as that's
a challenge that we try to face plenty of ice hockey experts in russia have already dumped scott st petersburg as the cape shell's dream team however such comparisons have a rarely served any team in any sport any real justice the continental hockey league season is still young and scarves in pretty well so far and hopefully their fans will be just as happy in april of twenty eleven as they are now from on cost of r.t. st petersburg. yeah that's a sport the weather a snacks to stay with us. home
dot com. russian called say no to one group's hardline tactics in its battle against drug addiction lawmakers may have ruled the methods illegal but supporters say they work report tonight plus. unconditional friendships russia says it will not be placed on improving its relationship with britain both sides agreeing to disagree on many troubling aspects. also the public purse or rather first civilian trial of a guantanamo detainee as none of the u.s. media's predictions of police cordons traffic gridlock and security threats come true. the hooks on handouts are to report from the benefit of being out of work in britain now the authorities are trying to weed out the work shy those reading.
this is r.t. from moscow it's eleven pm here now thanks for being with us this hour i'm kevin zero in with the top story and at their wits end with drug addicts a group in russia is urals decided to take the law into their own hands their extreme methods of kidnapping dealers and users and forcing treatment on the may of one great support from the people but it's fallen foul of the authorities who jailed some of them for abduction and torture. a drugs raid gets underway and after hours of waiting for a contact to give the signal suddenly everyone is up and running the police are involved but not all taking part a law enforcement officers the raid is being organized by a vigilante style group from.