tv [untitled] RT September 9, 2010 10:30am-11:00am EDT
small group of people in okinawa vocalized they're not happy with the bases many people there and on mainland japan fully support u.s. forces in okinawa and to japan they realize the vital role they play in the defense of japan and for regional stability and security but getting the u.s. out isn't as easy as a vote by the people japan's surrender at the end of the war limits the country to having only a security defense force as part of the treaty the united states officially acts as japan's military in case a conflict should arise that affects the country but now there is a small but vocal movement suggesting that it is time to review old policies that just aren't needed anymore. this situation in asia has calmed there are no conflicts here any conflicts that exist or in western iraq and not here the people in okinawa think that the strategic value of these bases has diminished for the u.s. . but with china growing stronger as
a geo political force in the region and the instability of north korea still a concern it is likely that the united states won't be leaving okinawa any time soon john thomas r.t. okinawa japan. back with a recap of our main stories in just a moment. to live in a country that don't understand that there's more violence in the streets of this country than there are in the streets of afghanistan or baghdad. then. the. british or. the.
the. hunger for the full story we've got it for us has the biggest issues get a human voice face to face with the news makers on. live from moscow this is breaking news for you this hour at least sixteen people have been killed in a car bombing at a market in russia's a volatile north caucuses region around one hundred others were injured in the time in the republic of north a city of security has been tightened amid fears of more possible blasts.
to discuss who might be behind the attack we're now joined by victor linnik editor in chief of the analytical magazine aslan mr linux thank you for joining us what were the people behind this bomb attack trying to achieve was it just to wreak havoc among the people or was that perhaps a larger agenda. i think yes the number one is the opposite obviously to create instability psychological instability in the minds of the local population and we see why even for terrorist attacks spreading from first church now then the into english. and now in jordan across the pick asian region into north caucasus per se so what we're dealing here with is i think a sustained and determined effort on the part of some to create political instability. on the eve of a presidential and parliamentary elections to which russia is moving very fast. and
i think that this is impossible without money hondo systems from from outside of russia. recently there's been a string of successful operations targeting terrorist leaders in the north caucuses and yet we still hear of attacks such as this one to believe it's at all possible to stop terrorism in the region after all. you cannot stop suicide bombers i think in any country of the world it's next to impossible. but i should say that. right now in the terror of the successful operation untied terrorist operations yes with heard a lot of them they've been numerous but every time they kill all the terrorists they never capture them alive without being able to interrogate them and to find out about their links and the terrorist underground and i think that this is
something that is not very good about these operations so. often just perhaps boosting security and in crowded areas are there any other ways to prevent such attacks from occurring. i think the instability in the caucasus started with the exodus of the russian population from the thick asian republics it started in the early ninety's when the russians were forced out of there and the russian population served as a. balancer if you will. excuse me a balancer between the various and numerous ethnic minorities in the caucasus without restoring that the status and t. . bro i think it is impossible to talk about sustained reaching sustained stability in that part of the country so add and just
economy measures on them but they have that which they forty's try to become bad unemployment high unemployment rates there yes it is also a very good tool i think would be that berg would prove to be helpful but then there should be a combination of factors obviously the law enforcement agencies do not seem to work in the caucasus so all the. factors combined i think would improve the situation for the better right victor lineker editor in chief of the analytical magazine slover thank you. thank you well we'll be keeping you up to date with the situation in of a lot of tough costs throughout the day but let's now get the business news with korea. hello and welcome to business good to have you with us russia ranks sixty third as competitive nation according to the world economic forum that places russia russia roughly in the middle of one hundred thirty nine countries on the list davus based
for a measure of competitiveness in twelve different ways including education labor market efficiency and innovation so it's a lens took first place followed by sweden and singapore. as politicians at least in some countries have given up the pretense of economic recovery president obama this week called for another round of public spending to prevent the slide into depression but the debate is finally balanced with others in europe determined to cut spending and bring down deficits save the data points. there at the bottom wants to keep another one hundred eighty billion dollars into the u.s. economy after a data suggesting the economy from house prices to jobs is shrinking again given his mood is that debating whether more spending will end a decade of contraction in the land of the rising sun the russians to face a choice for the next few years we seem to be spending. we see a combination of private and increased spending that we believe. i believe to
be private capital will return to russia over the next twelve months in a meaningful manner secondly we do see increased spending from the government as well combination of two should be the base for we believe to be five to six percent growth over the medium term the government plans to borrow more money this year but also spend their means of this to build zeeshan fund domestic growth is already accounts for its sixty million dollars and russia will be ready to issue euro bonds in november according to finance ministry motional wims same store it's you know will be boring a lot in any case a deficit of three point six percent is anticipated next year we also focus the twenty twelve deficit will be three point one and two point nine to twenty thirteen the current situation has forced us to borrow and we will be spending from the reserve fund next year. reserve funds have shrunk to
a third of their former size one that runs own little hole in the russian budget unless the government can pump up its moorings one by. company's legs burbank with presidential elections less than two years away how to list say politicians need responding cuts off limits you need to do business. and checking on the markets now u.s. stocks are higher after a fall in unemployment claims labor department says the jobless figure was the lowest for two months that suggests business and employment conditions are not as bad as previously feared and in other news my dollars keep us revenue figure rises over four a half percent for august and europe shares are up ten with a session banks are gaining up to positive comments on the economy by a european central bank policy maker lloyds bank shares are gaining over three percent also on societe generale and credit agricole and here in russia both the
indices are higher leading session with all the major blue chips in the black leading the games is ross telecom up more than four percent banking and energy shares are also gaining with spare bank and look oil trading up over two of two point four percent of the r.t.s. admittedly up over three percent on the license. russia's credit rating outlook has been upgraded to positive from stable by fitch ratings the reason for the boost accelerating growth stabilizing banking industry and a flexible exchange rate policy from the central bank which said it may further raise russia's credit rating if the government we do says the country's vulnerability to swings in oil prices. and russia's economy has a long way to go before the ruble becomes an international reserve currency that's the dominant view from a conference focused on the prospects for the russian currency he steps according to analysts should be to boost the couple and bond. markets stabilize and supply
the russian economy and lower the inflation rate however the president of the mars x. exchange says russia is making progress. using ruble to be accepted in settlements this is an important step and this is the first step towards the ball making ruble the reserve currency. and barrel hooker from i kept says it will is already attracting international interest the trading that we're seeing on the b s planform is growing month by month with all sort of three to six months we've seen huge increases in volumes and we would expect those volumes to double over the next six months so there's massive uptake we see in counter parties in hong kong and singapore in new york and chicago in particular all looking at the rupee and so most of my inquiries now about ruble are actually coming from north america and asia. my six aims to start trading the yuan will cross by the end of this year out a list say the trade will boost the profile for both currencies my success as the
initiative came from russia central bank and the people's bank of china is expected to launch the same trade. plunging interest rates have led to a three fold rise in borrowing on the syndicated loans market by russian companies corporate loans have jumped to twenty billion dollars from just under seven billion dollars from the year before for example look all took an unsecured loan this year at about one percent above and into bag rates last year a similar but secured loan by the same company had an interest rate four times higher. and the us an order in the market could return to pre-crisis levels in three years' time that's according to new research from after start russia would then be on the road with other top car markets like germany's however many market watchers warn growth won't be quick after stop predicts russian sales will be less than two million because this year. now look at the rest of those days company news
is to nominate its chief do it pass to the board of noise the extraordinary election issue for october twenty eight now the votes being repeated after accusations of cheating during an earlier vote the two principal shareholders and interests have competed for control of the board the list of candidates will be submitted tempered twenty first at the latest. and the bank could offer a four point six billion dollars loan to boost sol this month that's according to hammond graff. the other medium giant needs to refinance its debt to national bank has also announced that the privatisation of nine point three percent stake is burbank won't happen this year turn to its operations he added there is a very bank expects its retail loan portfolio to grow ten fifteen percent in two thousand and ten. eldorado russia's electronics retailer says it will exceed its
profits forecast this year helped by the opening of four war stores the group's vice president of marketing says the company wants to become a leader in europe. well goal over the next three years is to become the best in europe in the next couple of years we're going to rebrand the whole chain we've managed to recover and regain the confidence of both consumers and banks were quite profitable and we've announced four percent ebit dollar year to date but we still have a lot to do we began the year with one target for profit but it looks like we'll exceed it but at least one and a half times he told the update for now but you can always find more stories on our website r.t. dot com on the back and. wealthy british.
breaking news here on our t.v. at least sixteen people have been killed in a car bombing at a market in russia's volatile north caucuses region around one hundred others were injured in the attack in the republic of north of setia security has been tightened amid fears of more plums. i'll be back with our breaking news story shortly. more news from you in just under twenty minutes but up next spoke to the award winning producer story and economist robert
skidelsky talking all about the economic crisis and why austerity measures will only make things worse he also tells us why russia and europe should form a military alliance that's next on. lord skidelsky a member of the british house of lords award winning historian and corniest and an expert on russia is here with us today thank you very much for joining us this group or skidelsky your recent book keynes the return of the must step out philosopher and economist john maynard keynes received several awards how relevant the economists theorise today i would say they were very relevant in three respects first of all he explained how we got into this mess this crisis in two thousand and eight two thousand and nine secondly he tells us what we ought to do about it how
to get out of it and thirdly he tells us how to avoid how we can minimize our chances of getting into another one and i think no other economist does that he was the greatest economist of the last century in one of the articles you said that europe was declining economically and politically why is this happening and what are the signs of the crisis well of course europe's been very badly hit by the recession and it's got very high unemployment but beyond that i think europe is in decline it's it's weaker than it was. population is it is not expanding and. others are it's been affected by the rise of asia and particularly the rise of china so if you think back to one hundred years ago europe was the center of the world now of course it's not and it's much much weaker than it was and partly it has no unity there's
a european union but it has no european government and till they get european government they're not going to play or be able to play a major part in the world the world of. the collapse of the greek economy has impacted the whole of the european union. and does this mean that the e.u. is vulnerable as a groupie well of course it is because it was based on the idea that everyone is progresses at the same rate or if there are some weaknesses. in some parts of it it affects the whole lot because it means that the exchange rate is weaken and it also means that some countries like germany have to bail out other countries so if anything goes wrong in one part of the union it's the responsibility of other countries and they didn't think they were going to have to assume those responsibilities so i think the greek the greek crisis has impacted the whole of
the union immediately immediately it. created a crisis of confidence in the europe germany and france want there to be consequences for the countries which ran up excessive deficits like greece is this a necessary step well of course i think people have to countries have to be have to live within their means so to speak not spending extravagantly but when they talk about consequences for greece they also have to consider the consequences for greece and other weak countries will have consequences for them i mean if if if they cut down on government spending in the mediterranean countries that will mean less demand for german exports and so it will impact them it's not just consequences for the for the weak countries it's consequences for everyone so i think they have to be very very careful in wanting greece to pay the price of its
extravagance because in paying that price the germans will also have to pay a price they're the strongest country in the your opinion and from so as well and what are the countries which could be potentially some. to these monstrous greece italy spain ireland. england. portugal they're all they've all adopted what's called fiscal consolidation policies they've all said that they're going to spend the next over the next four or five years to balance their budgets there and i think that's going to have a very bad effect because i think it's going to slow down the growth a recovery will slow down the recovery it might even lead to a double double dip recession as it's called so you actually go down again so they're very dangerous times for the world economy over the next six months the german finance minister suggests introducing a european want to trade font is this necessary is this
a necessary edition to the current system i think it would help yes i think that's the one good suggestion that's actually emerged from the crisis i think most of their suggestions have been terrible but this is a good one. because it mobilizes some resources that can be brought to help we countries in an emergency it's rather like the euro it's a regional version of the i.m.f. you know the i.m.f. countries can borrow from the i.m.f. on conditions but of course it depends whether they can mobilize the required resources on a permanent basis they have done it on a temporary basis so far on a permanent basis and what conditions they attach to lending the money if the conditions are too hard then i think they can actually make matters worse but it is a good it is a good step towards a government of europe you believe that expenditure reduction is the key danger of
the current economic situation why is that and if so what can it result well i think expenditure reduction is a huge danger because it's cutting down spending the government in a recession the government is really company. sating for a decline in private spending overall the spending in the economy is less than it was and then private sector spending less government has to spend more that's the only way of keeping economies going and i don't know who exactly are some politicians that there is a crisis like the current one you have to pay people the money make them work even if you if you make them the money and dig them out well cain said you know that you will you'll you'll you'll get rid of unemployment if you if you dig dig holes in the ground and get people to fill them up again or if the treasury filled the old bottles with banknotes and milton friedman said the same thing helicopter money
would just scatter money over over the country and that'll get rid of unemployment no between serious the german economy is a very strong economy but it is an export economy and its exports have been growing why because basically because china has been growing very fast in the last year or so if china's growth. stops but gets less if european if european growth falters as a result of these cuts everywhere if american growth slows down then the germans will not be doing so well and i don't think they'll be doing as well as they are now in over the next year i think they're going to face a moment of truth when everyone slowing down is going to be very bad for the german economy the german economy will slow down to you criticize the decision of the european leaders to withdraw all fiscal stimulation programs which have been operating over the last two years could this cause
a slump in logic. i think i think it can i think the the with the withdrawal of the fiscal stimulus is very is very risky because it's been like a lifeline it's been a life support system. them and everyone said oh really the big big problem is the hole in the government finances that they're that they're spending much more than they're raising in revenue it's not the hole in the government finances that's the problem it's the hole in the economy that's the problem and you know if you if you deal with the hole in the economy that the finances will get better automatically because revenues of the revenues of the government will increase and their expenditure on unemployment will fall so you deal with the economy and the budget will look after itself more or less i'm that's an exaggeration while leaving the economy to one side in one of your interviews you set that russia could provide
military defense to the european union under what conditions could this happen. well what i meant by saying that russia could support europe in security matters was that russia should become part of the european security system and i think the simplest way to have done that would have been for russia to become a member of nato which is i think something that putin wanted when he was president but they did they didn't want russia in but that would have been the simplest way but as it is russia should become a much more effective part of the european security system and not be outside it because the european actually european military is very very weak the two military is in europe the french and the british the rest have to do anything really but this small and there's no unity. sort of
nato agreement to create something larger and russia has a has a has has good military forces and they have become increasingly modernize and specialized to the kind of work. that military forces have to do today which isn't a five minute rule but to the top of a counterinsurgency operations peacekeeping operations and so on so russia could be a great asset for european security system and president medvedev has suggested a new security concept that would include russia and we should we should take him up on that and really see will what we can do with it because all through russia is part of europe it shouldn't be outside it. thank you very much for your time.