for greece, you have to understand it was only two months ago we were discussing whether greece would be leaving the eurozone. they are going through an incredible depression right now with an incredible level of unemployment. it is very difficult for them to meet all of these austerity measures and budget cuts without exacerbating the problem and trying to get more time for that. all promises they have made have been broken and the commitments have been emptied all along. >> can there rest of europe afford to give them more time? >> we are coming to a time where markets will start doubting the ability of the other countries. there is still plenty of room for germany to come up with more aid to their partners. the big question is politically whether they will have that type of political will because right now, what we are seeing that is different from before is that the economies of the rest of europe are starting to weaken. germany, france are weakening and it is no longer a question. you lose the will to take part once the german economy weakens. >> the whole eurozone is teetering o

masters are to decide whether greece should get more time to sort out its bailout ruefulness while in germany chancellor merkel's allies say afterwards leaving the euro would be no big deal. u.s. special troops are on standby to go into syria following president obama's warning of authorizing intervention if there are signs damascus is moving its chemical arms . and russia or asked the u.s. to hand over business victor boot has been jailed for twenty five years for conspiring to kill americans but maintains he's the victim of a political witch. this is r.t. live from moscow welcome if you just joined us this kevin now in our top story at nine pm here it's crunch time for greece right now the german leader and french president are working out whether to grant our fans the breathing space it needs to sort out its finances the country's been relying on international loans for over two years but is struggling to meet its bailout conditions meanwhile chancellor merkel's allies in berlin say a greek exit would have a great impact on the peter all of a is what would not have a great impact o

and regaining of competitiveness in greece and this is the exit from the eurozone and greece is bankrupt i think there's no discussion about that today and it hasn't been two or three years ago and let's imagine something does get its breathing space so what was done could the government really reverse years of recession and corruption in so brief time. greece has done quite a bit of work there is no discussion about that but even if it's the hardest possible were a lot of. extremely or very greece won't be able to pay back the huge amount of that they have loaded to their shoulder greece is able to achieve a crime or a surplus of around about five billion euros this is able to finance one hundred billion euros in debt chris has more than three times this amount. crease won't be able to get out of this crisis without leaving the eurozone the chancellor merkel has also said that the greek problem is not just economic and not just about the eurozone but also about the future politics of europe what exactly did she mean. i don't know exactly what. was here but what is obvious is that within

would you say it's a better plan i think there's no doubt that greece in my view needs to get out of the euro i cannot see any way in which this current policy of austerity is going to bring any relief or stop this grinding process of trying to bring prices and wages down takes not years but decades to correct the sort of on competitiveness that greece is going through and what's more it raises the real value of debt so greece and the other weaker members of the euro face not one key problem but to their own competitive play their costs and prices are out of line with other countries in the euro and they're also saddled with very high levels of debt the problem with domestic deflation is in principle but the very badly but in principle it deals with one of these problems namely the lack of competitiveness but at the cost of making the other problem debt even worse and what we're talking about is countries not only greece but possibly other countries that leaving the euro off to that your file seem to fear the breakup of the year is there not some kind of ahmed getting do you think th

is more competitive not grinding deflation they would tell fifteen years but instantaneously greece is forty or fifty or sixty percent more competitive than the demand for greek output is going to take off that doesn't happen overnight but in a matter of months that will happen greek exports will start to rise create imports will fall and that will generate employment more income in greece so there's a trade off a difficult period to go through first of all in order to secure later greater prosperity so if you compare that situation to the austerity that the greeks are now facing which would you say is a better plan i think there's no doubt that greece in my view needs to get out of the euro i cannot see any way in which this current policy of austerity is going to bring any relief or solve the grinding process of trying to. take years decades correct sort of a credit crisis greece is going through and what's more it raises the real value of debt to greece and the other we can members of the euro face not one key problem but to their own competitive costs and prices are out of line

europe's paymasters greece's hopes for a more lenient austerity while athens lashes out at germany demanding it stop spreading rumors of the imminent your exit. the two un's nuclear watchdog news talks with iran over the atomic program the islamic state claims is purely peaceful and the doubts over the agency's impartiality. international news and comment live from moscow this is all she was me you know. welcome to the program norway is about to close the final chapter of the case that's been haunting it for more than a year now has confessed mass murder and as brave it awaits a quarter verdict during the trial he never showed remorse for slaughtering dozens of people in july twenty seventh and as a senior now reports the hearings have highlighted the fact europe's multicultural policy is framing. there's no doubt about his guilt for right militant unders brave massacred seventy seven people in norway thirteen months ago to show his rejection of government policies and immigrants and is long. but the question at the heart of this trial is ian same brave because along insisted he is not that

of debt to greece and the other we can members of the euro face not one key problem but to their own competitive cost some prices are out of line with other countries in the euro and they're also saddled with very high levels of debt the problem with domestic deflation is in principle but they very badly but in principle it deals with one of these problems namely the lack of competitiveness but at the cost of making the other problem debt even worse and what we're talking about is countries not only greece but possibly other countries that leaving the euro off to that europe file seem to fear the breakup of the year is they not some kind of ahmed getting do you think that's where listed fair well i think they're right to fear the breakup of the euro zone because. if greece for instance were to leave obviously we don't know how it would all work out suppose it's possible that the rest of the euro would then together but i doubt it i think if greece leaves before very long conses countries will leave as well and will end up probably with the peripheral countries possibly all five of th

europe's patience with greece is wearing thin. antonis samaras needs to win favor abroad but he must also start to heal his broken country. >> that is where mr. samaras will push talks today and later in the week and talk about how the country is suffering from austerity, one third pushed below the poverty line, unemployment, 23 percent and for young people, a staggering 54 percent. a source tells me he will not press for the two-year extension, he does not want to cause bad blood with them at this stage but he will broach the topic. will they respond positively? they are tiring of greek delays but they don't want to see greece leaving the euro for the moment for fear it could spread contagion to other indebted countries. >> mark, in athens, thank you very much. we're going to have a look at some of the other stories making headlines around the world. japan is sending its ambassador back to south korea to deal with a dispute over island territory which both countries claim. the ambassador was withdrawn in protest after the south k

and the euro debt crisis in greece is not the biggest issue here on the frankfurt floor. nevertheless, the euro debt crisis remains an issue because there is lots of uncertainty going on here, although investors are quite sure that angela merkel will not fulfil any wishes of the greek government to get more time or even for another debt cut. the dax ended up this first trading day of this week unchanged. >> let's take a closer look at some of those market figures now. the dax closed at 7033. the euro stoxx 50 down by 8.5%. the dow jones industrials currently at 13,264. the euro trading for $1.3345. argentina has filed a complaint against the eu at the world trade organization, objecting to a spanish law that limits imports of by a diesel fuel. spain has 60 days to show that its rules are not unfair, after which argentina can ask for a wto panel to settle the matter. the claim comes at a time of strained relations between madrid and when desires after argentina nationalized the ypf will company, a subsidiary of spanish oil repsol earlier this year. >> here in germany, new

. >> we want -- i want -- greece to be in the eurozone. it is a which we have expressed since the beginning of the crisis, but now, it is up to grease to make the efforts which are indispensable to achieving this goal. >> germany and france are seeking a common position in the face of greek requests for more time to carry out the reforms demanded of them. >> let's go now live to our chief political correspondent, who is standing by outside the chancellor were talks between merkel and hollande are continuing at this hour. it does not sound as if the greek prime minister will hear what he wants to when he arrives in berlin tomorrow. >> in fact, this was quite a strong statement from mr. hollande and angela merkel indicating that there will be no relaxation of the conditions being demanded of greece. the leaders have had differences in the past. francois hollande has tended to favor a growth path, where as angela merkel is seen as a hard- liner on austerity -- whereas angela merkel is seen as a hard- liner on austerity, but they have done the

europe's from economies damage greece's hopes for more time to implement cancer while athens lashes out of germany demanding it stop spreading rumors but with imminent a year exit. the un's nuclear watchdog will use talks with iran over the atomic program the islamic state claims is purely peaceful and they doubt over the agency's impartiality. international news and comment live from moscow this is r.t. was mijnheer ship of our thanks for joining us norway is about to close the final chapter of the case that has been haunting it for more than a year now and fast mass murder and as bravery awaits a court verdict during the trial he never showed remorse for slaughtering dozens of people in july twenty seventh and as artists are syria reports the year e has highlight is the fact europe's multicultural policy is failing. there's no doubt about his guilt far right militant unders brave massacre to seventy seven people in norway thirteen months ago to show his rejection of government policies and immigrants and is long. but the question at the heart of this trial is ian same brave because al

the greece -- it says greece could stay afloat but will be broke if the money doesn't arrive. what's your own sense of likely outcomes for greece by the end of this year? >> i think they will have to provide some relief to greece. i hope it will be in the form of official debt relief. and not in the form of more money, which in any case politically is unlikely to fly. and i also think that that will help greece get out of recession more easily because right now interest payments absorb a very large portion of tax revenues. >> okay. thank so you much for joining us. miranda xafa joining us from athens. australia central bank governor says the country's resources boom is not over yet. the rba expects mining investments to peak of 9% of gdp over the next two years before fading. signalled interest rates will stand pat unless there's a big change in australia's economic outlook. come october, the japanese government could run out of government. the nation's with the world's biggest debt burden is inches to its own version of fiscal cliff. legislation is languaishing. >>> and the u

hands this isn't out of greece and greece. you know a vicious. spiral the economy. loading and collapsing they pass there's no going to. them you'll see. that in the private sector of greece that insolvent the banks that insolvent. so it's completely up to the eurozone to decide whether it wants to give that greece an opportunity to stay afloat in the eurozone or whether they would want to push the greek economy and society it was where they would simply put all their arms up in the air and enter and leave the euro now. if greece doesn't get the latest cash this thirty one and a half billion euro it will default on its massive debt how wide will that shockwave be felt if that happened still said thank you. not that wise and not that significant because let's face it releases already defaulted last march to the private sector and massive seventy five percent was imposed upon the bondholders in present value terms now that depp's that in mainz which is unsustainable when you use that debt to the official sector of the european u

greece carries on using euro's until new track when nodes are available but you raise the exchange rate at the new one on one parity with the with the drachma well what will tend to happen is that a price system will develop because people will know that. the same as euros although they've been converted to one to one rate they'll tend to be a different price for euro cash as compared to. credit or direct debit cards that will be to some extent messy but it will be perfectly practical there are a lot of countries in the world to do currency into pricing system and this all sounds very simple in times of in terms of will people using real money are there other complications that kind of macroeconomic level where there are huge complications and problems on one of the biggest is going to concern the legal position because what would happen at the point of the greece leaves the euro is it would read to nominate its debt its national debt into a drachma. now as far as domestic greek residents and. not going to have any come by that change is going to stand in on the great lauren green cause

for two decades probably a great deal longer ultimately there is a fiction price to be won from greece greek economic numbers the idea that suddenly when you have an economy that's in a tailspin it's collapsing an incredible almost unprecedented grit that suddenly everything's going to switch iran is really not going to have the situation for mrs merkel who has got a terrible dilemma is she's actually going to have to do something radical that she hasn't done before in the euro crisis which is make a decision and actually how did she made any decisions a couple of years ago it would have been a lot better than the than the last a plus the sticking plaster is that if you don't like to these euro crisis the truth is there's no messing around here greece is bankrupt on those stars get him over the course mrs merkel must agree with her about ventures she has to inject greece from the euro because tragically it's the only human solution for everybody involved. the eurozone debt shock waves buffeting britain now there's a thought of the u.k. should look east for success more of that in the c

you only have to look at greece. the highlight out of the numbers, the point to take home is what's happening in the powerhouse of europe which of course is germany. yes, germany eked out growth, .3%, but at those growth rates it certainly and clearly shows that germany is nowhere near as bouyant as six months ago. that's a problem and could be a sign of things to come because i've been told today, if germany doesn't get a grip and handle on the solution sooner rather than later it's big trouble for germany. germany relies on the success of the eurozone, 40 percent of exports go into europe. saying all of that, though, somebody did tell me today there could be a positive out of this negative. let's have a listen to this, connor. >> at the very least. you may have noticed politicians and policymakers, if they are still talking because many are not today, they are actually talking about october increasing. i think they 3450eu9 mighting traveling on hope, because if markets are back in september the markets will have an

as greece received two hundred fourteen percent of g.d.p. as aid how can we do that with spain these sums become astronomical too big for the rest of europe and i think everyone knows that how much deliberation can really afford any and now on the on what to deal how the problem you the problem of the southern european countries total bank and government debt of twelve point five trillion euros is too big for germany to to be solved. germany's g.d.p. is two and a half trillion so the only possibility is there the investors themselves except some haircuts if the banks in spain for example have a problem because of these huge write off losses on their toxic credits to. real estate investors well then the creditors of the bank would have to lose the money first of all you could try to detect with the swap that is the old equity owners hand over their shares to the creditors in exchange for a haircut that would be a fair deal for the credit. the equity owners would lose their money. bear the risk that's their function and if that is not enough i

germany is not prepared to make any concessions to greece. chancellor merkel will not pump any more money into the country without signs of improvement. as europe posey largest economy, germany is also most vulnerable to a greek the fault -- as europe's largest economy. germany has also put up guarantees, but that is not all. the european central bank has been buying up greek sovereign bonds as well. it has paid for 13 billion euros worth of those bonds with german taxpayer money. berlin is also guaranteeing international monetary fund payments to athens to the tune of 3 billion euros. and the greek central bank's outstanding payments to germany's bank come to a hefty 30 billion euros. together, germany stands to lose $83 billion in the event of a greek sovereign default. statistically, that would cost everyone in germany almost a month's pay for a cashier in a supermarket, and it represents some 33% of the government's annual revenue. >> the finance minister would have funding gaps in those years in which repayments would be due. of course,

leaders frown at athens as calls changes bailout terms if greece doesn't get its massiveness bailout it will default on its loans europe today care and we'll have more from nextel car i thank you very much tail up next we do have a recap of the day's top stories with me try and stay with us. wealthy british style. that's not on the title of. markets why not come to. find out what's really happening to the global economy with max cause or for a no holds barred look at the global financial headlines tune into cars a report on our. home to the future life so is better down where it's wetter so get on board and check out world class cutters as they get a lightweight super strong make over giant floating lab prepares to charge under explored aides to logan arctica and find a novel way to make waste with a brand new empty to be a supposed whatever your destination kids are right to tomorrow's water world today . magine assets. phone watches show every single moment. and waiting for you to stumble. i saw a man with a video camera so i moved over and he followed me. you know we realized they

europe's premier economies greece's hopes for more time to implement cuts while athens lunchers out of germany demanding its top spreading rumors of its imminent euro exit. the once nuclear war stopper news talks with iran over its disputed atomic program which the country claims is a purely peaceful. news from russia and around the world this is the with me our thanks for joining us norway is about to close the final chapter of the case that's been haunting it for more than a gear now has confessed to mass murder and his bravery awaits a quarter verdict during the trial he never showed remorse for slaughtering dozens of people in july twentieth and as our senior now reports the hearing has highlighted the facts europe's multicultural policies failing there's no doubt about his guilt for right militant unders brave massacred seventy seven people in norway thirteen months ago to show his rejection of government policies and immigrants and is long but the question at the heart of this trial is the unseen brave because along insisted he is not that his extremist xenophobic ideology is not

. >> no more concessions for greece. german politicians state their claim ahead of a key meeting between angela merkel and antonis samaras. >> the ecb is considering setting a trigger for sovereign bond purchases. >> the former wife has a suspended sentence. >> london shares are under pressure, workers told to return at south african mine or face dismissals. there's a $1 billion rights issue pure speculation. >> okay. welcome to the show. i was a little lonely on friday. >> how did it go? >> i was lonely. dublin was good? >> i was not lonely. >> no. >> you'll have time at the end of this week and a little bit next week. we'll have to make the most of it while we're together. >> for the next three days. let's tell you what's coming up. celebration is over for europe's top politician. leaders of germany, france and freese will hold a series of meetings this week. on friday the greek prime minister, antonis samaras is expected to ask for more lenient bailout terms when he meets both those leaders. top politicians refused to

the short run i think greece stays in. i think they will get the $31.billion euro troferj keeping them in the euro through the course of the rest of the year. after next year if greece has further problems and falls off track, it's anybody's guess. >> rooney: . >> susie: all right w all of these question marks still lingering over europe, what does all of this mean for the american scene? will this derail u.s. stocks in september? >> well, i mean if things go poorly the ecb doesn't come up with anything, if numbers and the reports coming out of greece are far worse, and spain's problems become more aggravated, yes, i think it certainly does flow into u.s. equity and debt markets. i don't think there is any way around that. it also puts more pressure on the u.s. fed to come out with q e3. the issues facing the fed is if europe doesn't do anything, it's going to fall on mr. bernanke and company to fill in the gap. so i think the u.s. economy has got pretty anemic growth. 1.7 to 2% growth for the course of this year. if europ

europe's premier economies damage greece's problems but more time to implement cuts while athens launchers out of germany demanding it stop spreading rumors of its imminent you were exit. and the use nuclear watchdog with news talks with iran over the atomic program the islamic state claims disputed peaceful and made doubts over the agency's impartiality and. this is coming to live from moscow hello and welcome to the program norway is about to close the final chapter of the case that's been haunting it for more than a game now has confessed to mass murder on this brave awaits a quarter verdict during the trial he never showed remorse for slaughtering dozens of people in july twenty levon and. now reports the hearing has highlighted the fact yorks multicultural policies failing there's no doubt about his guilt for right militant unders brave massacred seventy seven people in norway thirteen months ago to show his rejection of government policies and immigrants and is long but the question at the heart of this trial is ian same brave because along insisted he is not that his extreme and set

the most bankrupt thing in greece is not the country it's the political class and. simply the current top dog bankrupted over the last greek there's three words in the economic crisis which are use most commonly austerity just trying to reform growth if you simply take the rhetoric of the policies look at the facts and you can actually translate the language into what it actually means so i stared congressman i just want. exploitation and growth means profits they undermine labor the. social security card health care spending cut all social spending in general. public sector privatized the economy privatizing infrastructure privatized the water the electricity so that foreign corporations to come in and buy everything up and this is all so that they can get a bailout which the money simply goes to the banks just the interest on the loans to the banks the euro zone debt shock waves buffeting birth in britain and there is no if all that the u.k. should look east for success more on that in today's cars a report later this hour on our. apple lazy britain fellow tories

no sign of relief for greece after its p.r. blitz in europe to try and win war time to enact the painful reforms promised to its creditors the greek prime minister has met the french president after seeing the german chancellor a day earlier but both of the e.u.'s key paymasters have held back from giving greece the breathing space it says it urgently needs angle americans under rising pressure at home with the parliament leaders saying neither the time nor the content can be renegotiated asset management specialist philip believes no matter how hard greece tries it won't be able to pay back what it. greece is bankrupt i think there's no discussion about that today and it hadn't been two or three years ago even with the hardest possible word a lot of caught on an extremely. grave greece won't be able to pay back the huge amount of that they have loaded to their shoulder there's a whole new one way of rescue regaining of competitiveness in greece and this is the exit from the eurozone. politicians always argue there are enormous

well over the next few weeks greece could find out its fate and the country's future as a part of the euro that's certainly going to be something that's all for discussion when francois hollande the french president arrives here in berlin for chats with chancellor angela merkel now the two have differing opinions over how the debt crisis in greece should be dealt with as well as across the eurozone in general. chancellor merkel very very big on wanting to see cuts she said that greece must stick to a very rigid plan in order to find eleven over eleven billion euros worth of cuts before the next round of bailout money which is to shortly francoise hollande in france saying this well they're a little bit more flexible when it comes to greece now this meeting is going to take place here is really to try and make sure that they're both singing from the same song sheet when it comes to what to do with athens it comes of course shortly before the greek prime minister heads to paris for talks with all and hopefully there will be a consensus between germany and france over what to do before t

europe's paymasters dash greece's hopes for more lenient all sturdy while athens lashes out at germany demanding it stop spreading rumors of its imminent euro exit. and the un's nuclear watchdog renews talks with iran over the atomic program the as lawmakers state claims it is purely peaceful amid doubts over the agency's impartiality. hello and welcome to our team this friday on charon terra with you it's three o'clock here in moscow and we go now to our latest story a norway court has found mass murder on their spread makes a man and sentenced him to at least twenty one years in prison the killers lawyer said his client will not appeal the decision he insisted he was mentally sound and had orchestrated last year's massacre to show his rejection of government policies on immigrants and islam in july two thousand and eleven he slaughtered dozens of people in a double attack showing no remorse for his actions throughout his trial and as artie's tests are silly reports the case became a catalyst for a more far right activity across europe. there's no doubt about his guilt far right milit

with me our thanks for joining us long considered to tabu to even mention a leniency towards greece's in are something that is being openly discussed by europe's main leaders battered and bruised by austerity athens has bags e.u. for breathing space and today the leaders of france and germany will meet to discuss whether to granted but as artie's peter all of the reports it really is a divisive issue. well over the next few weeks greece could find out its fate in the country's future as a part of the euro that's certainly going to be something that's all for discussion when francois hollande the french president arrives here in berlin for chats with chancellor angela merkel now the two have differing opinions over how the debt crisis in greece should be dealt with as well as across the eurozone in general the chancellor merkel very very big on wanting to see cuts she said that greece must stick to a very rigid plan in order to find eleven over eleven billion euros worth of cuts before the next round of bailout money which is to shortly francoise hollande in france saying this well the

sandra: is that the future for greece? we saw the greek prime minister met with the euro zone leader, no leniency indicated from brussels for greece. where are we today? >> greek prime minister is the unfortunate recipient of the bad news from of a previous government's wretched economic policies and they have to make a hard choice but i think it is better for greece to face of the fact of an exit. they won't be leaving the european union. simply the common currency. britain and sweden and denmark in the e.u. without the euro and from the e.u.'s perspective it would strengthen their hand in deciding how to handle the larger economy like spain and italy. sandra: german chancellor angela merkel will be meeting tomorrow, urging him to continue on with the reform tax in greece. you wants to wait to see what is in the fourth cut report. what exactly is angela merkel saying here? >> she is at -- out of political room to maneuver. won't open the checkbook again would be my judgment. she has taken too much domestic political risk

he said the consequences would be a catastrophe for greece. in the scenario, samaras predicted at least five more years of depression and the unemployment rate jumping to 40%. >> for more on the story, i spoke to our correspondent in brussels and asked if juncker would listen to the plea for more time. >> he will definitely listen to what samaras has to say. in an interview earlier, he said he cared about the greek population and wants to see what is actually going on on the ground, so he will listen to what degree premier has to say, but of course, jean-claude juncker cannot make any decision. all he can do is take the information back with him to the meeting of his eurozone colleagues, and they are the ones who have to decide, and they are basing their decision also on the trigger reports that you have mentioned. we know jean-claude juncker has always had sympathy for greece, and he said a possible eurozone exit -- any speculation about it is unnecessary because it will not happen. it would be technically manageable but completely impractica