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tv   [untitled]    May 20, 2012 6:30am-7:00am EDT

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here are your headlines world leaders arrive in chicago for the nato summit city welcoming them with strong. greece staying in the euro zone but speculation of this is simply damage control and that a very different fate is being. plus the u.s. . could strengthen the regime's growing
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demonstrations fueled by the ruling. trying times now for the eurozone next we talked to. the economics writer for the guardian newspaper about what hard hit greece and the entire region can do to get back on track you're watching. today i'm talking to dieter chakraborty who's an economics leader writer for the guardian newspaper we're talking as politicians increasingly start to discuss an exit for greece from the euro zone as you see chakraborty thinks that orderly all disorderly that x. it will see disorder on the streets of greece like you very much for talking to us today and we've recently seen these elections in greece which appear to have shown that the greek people reject austerity how long do you think that rebellion is
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going to go on for i think it's already been going on for the better part of two years ever since the european union and the i.m.f. impose a really severe program of spending cards and form of welfare on greece you've basically seen a country which is dissin very quickly into the realms of young governable what you saw simply in the last election was about getting on for simply intellect or a boat if it came through security that is a party that was against austerity now whether that means that they're against spending cuts that means they're against reforming labor laws that mean they're against changing the welfare system were they simply privatizing whole swathes of national at it i don't know but what you do see very clearly from greece these elections and i think you've seen for the best part of the year is a kind of wholesale rejection of the program that's been imposed upon greece and we've seen germany's finance minister will crank schauble make it very clear that either greece sticks to this austerity all it quits the euro what's in greece's
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interest would you say what's best for them i think we could start with the most obvious thing is to stop with austerity what happens next well that's a that's a more vexed question if you want to talk about whether it's a good idea for greece stay within europe or i think either way it's commute very painful decision for greece if it stays within the euro or it will be forced to stick to some. on the program imposing it from outside for a long time to come and it won't have a great safety valve that's normally given to countries mistress or been able to devalue its own currency that's a problem with staying in the euro problems living on the other hand of the kind of volatility and turbulence which may well look may or may well make the general strikes to rights all the rest of it look like walk in the park compared to what happens next so that's from greece's point of view but what about the point of view of the rest of the year is the german chancellor angela merkel and new french president francois hollande says to both say that they want greece to stay in the
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is greece essential for keeping the euro zone together really it's not but the big question that will come up as soon as any country walks out a door is which i was going to follow after it so greece is a very small economy greece is also it's pretty clear an exceptional case within the euro zone economy because it's had the biggest crisis of the lot it's had the biggest bust of the lot it's got of course you know it's got a whole series of. specific to greece but if it go because there was thought portugal from going to and talking about sort of house of cards and this is being this is been the big question ever since it became clear that southern europe was in trouble it was never about one country particular and it was particular not about greece assoon as the questions arise about greece then actually the big questions get raised what about spain what about italy these are the really big economies even some in europe and within the euro zone and so when i go merkel said
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if the euro collapses europe itself will collapse do you think that sort of prophecy almost coming true. it's very funny statement for the german chance to make because the euro the euro is a union the seventeen countries the european union is a union of twenty seven countries and growing and so for her to ally one with the other is a very curious thing to do it may be rhetorical over straight but it may also be that she sees the euro zone and without that what happens in the european union probably she's got is that she says the euro equals europe but she also says austerity because europe so what you've got. very clearly not just in greece but across the euro zone now you've got electorates and governments collapsing because they cannot impose austerity on their on their voters so even in neverland government government collapses because economy posen sturdy belgium hasn't had a government for the best part of a year. if the if the european equal just territory and if the your if your unique
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was you and if the your equal sterrett then vote is then what authorities what does that mean about the rest of the rest of the european union i think you've got to come up with a better story for europe is for than simply it's about the euro what about potential exit for greece politicians are now really for the first time talking about an actual situation where greece might access and they're talking about an orderly or a disorderly exit what do those terms mean and what real difference do you think it would make the really really odd thing when people who are orderly or disorderly is all you are disorderly for whom because i can assure you that any sort of situation however well managed for the group for the ordinary greek it's going to be very disorderly indeed it's going to be very very turbulent. people have been modeling what a greek exit from the euro zone would look like for the best part of a year politically and economically politically even those who are in favor of greece leaving the euro zone it would involve the army being on the streets to keep
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order it would mean the banks would have been shot possibly shot that the a teams would not be working it would mean that people be stopped from leaving the country especially with this moves of euro's in their back pocket because the country would then need to stop all capital from the country and to maintain a very high level room order so it would feel affected like a country in the marshall vault the question all in the saudis really for the rest of the euro zone if the euro zone can say to threaten to financial markets look greece is leaving but we all know that greece is a special case you know behind our hands will say it's a bit of a basket case and actually its problems are not the rest of the euro zone that's what they really mean by an orderly exit if they can convince everyone that greece is leaving because of greece not because of the euro i don't think the markets would buy that because the rot has gone so far. financial markets i'm willing to lend to spain or to italy that i don't think people any longer see is a problem confined to just one or two small countries and what about the situation
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with the banking sector in greece at the moment you talk about sort of disorder on the streets we've seen in the region of a billion euro is i think withdrawn from greek banks just in the last ten days how significant is that how close do you think that is to panic withdrawing a run on the banks essentially i went into one big banks in greece in the capital athens in syntagma square last summer and i asked one of the cashiers what's your most popular financial product and he pulled out a safe box and he said what people are doing now is they are renting from us to put their money they no longer keep their money in the count in the bank they keep it in a safe box in the vault below almost under the mattress exactly like twenty first century of keep it on the pillow. so actually a bank run has a very slow motion bank run has been in greece for the best part of a year what you see in the past ten days is that sped up dramatically. the banking
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system in greece told him to purposes been a zombie five banking system for the best past years because most of the debts that greece holds has been written and so much of a secular portion of those debts held by the greek government are held by the greek banks system so effectively a sudden appollo worthless loans and that's before you get on to the loans are made to businesses and households which also not worth half what they were if that. so it's pretty clear that whatever you would have to do to greece where it stays in europe where it does then you're aware victims was thirty were doesn't it in your thirty in need to do something to restructure and to bring back to life its banking system but it doesn't have the money to do up and no one in the rest of europe is willing to give it money to do that and all over europe there's a growing popular opposition to the political and economic union how of european bureaucrats failed to convince the people that the european union as a whole and the euro particularly are a good idea. i'll turn a question around you'd have to say it's the most it's an it's the crowning
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achievement of brussels it's managed to take a largely pro european continent and turn it so wholesale against europe and the euro we're talking in britain where if you look at the popular press and even sections our political party system there are a whole variety of people who would see brussels have been on some kind of conspiracy plot to turn all banal as straight and this is always been part of the british public discourse what's been really interesting from this odd channel is actually more and more the continent is turning against the euro and turning against europe and i think that's largely goes back to what angela merkel says about if the euro fails europe fails she has made europe about the euro and she's made about making vicious spending cuts even in germany which is seen as being the strongest and most successful economy of the past decade even in germany average german worker has seen his or her wages for over the past their case take out inflation the median german wages fall and four percent over the past decade so
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even your average german worker the person in the most successful strongest economy in all of europe is worse off now than they were when since the euro launched and how far do you think politicians in brussels are willing to go to save the union and what you've seen of past two and a half years is effectively a whole series of blame games going on soon as it became clear that greece was in trouble people in brussels and cross normally would say well that's greece you know we knew they were they shouldn't really been part of the year in the first place denial and says hang on we're in trouble well you know the irish they can never control this their property market in portugal well ways portugal for heaven's sake then spain italy and so on so forth always becomes the fault of these individual countries and no point until very recently didn't say hang on there is a systemic problem here because you see whole swathes of europe now effectively going bankrupt or as close to bankrupt as you can physically get. and so they're very belatedly they realize actually this is not just about countries been for but
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about an extension crisis for the euro. having only just recognize that they know when a put in policies in place that might save you or it is to check thank you very much . older. golden globe. her mother please. good speech. she gave. her.
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around russia we've dumped a huge earth covered. it's sick.
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headlines on our t.v. world leaders arrive in chicago for the nato summit but the city welcoming them with thousands strong protests and reports of a heavy handed police reaction. of the g. eight nations throw their weight behind greece staying in the euro zone but speculation around this is simply damage control but a very different fate is being mapped out. plus the u.s. resumes arms sales to bahrain despite concerns that weapons could strengthen the regime's crackdown on the growing demonstrations fueled by the ruling family has plans for unity with saudi arabia. and throw it into the world of sports good to
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see you andrew i understand that roman abramovich has finally got what he's been after now for almost a decade after buying chelsea nine years ago my state investing three billion dollars his side have last won europe's top club competition for the very first time i've got the reaction just after this. hello there you're watching the sport here on r.t. and these are the headlines kings of europe chelsea head home with the champions league trophy after beating by munich four three on penalties. plus i think the high russia prepared to take on slovakia in the final of the ice hockey world championships in finland. and right maria sharapova get set to play and clear it all you know you can title against me now. but first thousands of chelsea fans will
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give their team a hero's welcome when they return home to london with the champions league trophy today an open top bus parade is planned after the blues beat by munich four three on penalties in germany where chelsea were on the back foot. most of the game by and allianz arena and it looks like the german side would lift the trophy after thomas morris had it go in the eighty minute however didier drogba put it header shortly after send it into extra time and although he then gave away a penalty aaron robin missed it and with the score staying at one one it went to a penalty shootout more drama followed by one staggers missed giving drug but a chance to clinch victory and he slotted home to make chat chelsea champions of europe their russian owner roman abramovich finally getting the training he's craved since buying the club nine years ago while chelsea coach reverted imitate is celebrating a unique double he also won the f.a. cup during his brief ten week stint as interim manager but it's still unclear if will lead the team next season. i don't know what the future's going to hold we are
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just very happy tonight. to have made history for this club is the first time that we have won this competition. and it's very difficult to with it we went very close so the club went very close four years ago and and you know i think a lot of the players. would qualify good for final and didn't come until two thousand and twelve so it's a different competition to win and you have to take your chance when it comes on today chelsea with a lucky they played typically as they do at the moment i send my congratulations to chelsea and london between four brilliantly they stood well in defense and with luck they won the champions league with a penalty shoot out well no prizes for guessing he was man of the match didier drogba collecting his award after the epic encounter and he's relishing the moment saying the victory had come after
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a long long wait been here four for eight years. always so close oh we're so close and so far the same time. to do. now we we obviously have discussed look up is going back through to the stamford bridge and this is the best feeling ever. again billed as the richest football match in the world also took place on saturday night west ham united beating blackpool in a playoff to reach the english premier league and pocket some seventy million dollars in the process incredible pressure then at wembley but it was a calm coffin cole who broke the deadlock the former england international showing he's lost a little of his prowess ten minutes from the break but blackpool got right back into contention early in the second period a similar goal to a brilliant long ball that's daunted by thomas ince but one one but the final say was to belong to the londoners as a foreign home three minutes from time to ensure the hammers sealed their return to
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the premier league at the first attempt so we wish top flight football guaranteed and check the seventeen million dollars to follow not a bad dates work. meanwhile russia are gunning for a third ice hockey world title in four years and take on survive here in the final of the world championships in finland on sunday to get email can have drinks with the red machine is free to pass the host and defending champions in the semi's class of ikea got a surprise three one win over the czechs in their semi reserve shirt than their hero with a brace of goals. and also going for glory is russian tennis star maria sharapova she will face li na in the final of the italian open a little later on sharapova cruise past angelica six three six four when the semi's remains on course to successfully defend her title next. progressing after three williams retired in their match with a back injury although the american does feel that she will be ok for the french open which starts at the end of the month. and novak djokovic beat roger federer
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to set up a showdown with rafael nadal in the men's final federal looking a bit weary under the lights in rome and not to be lost the opening set to the defending champion six two the second was close a big joke of which still had the upper hand winning on a tie break when the swiss sent a short long. now we cast a losing unpassable surely find out here scar have bounced back to claim their tenth domestic league title in a row the army men beating him k. ninety points to seventy five to wrap up their best of five series three new always in control fourteen points up in the first that was cut by him to five in the closing quarter but to your skull put on another surge in the final few minutes to run out when is and playing incredible nineteen twenty one season. well in the n.b.a. playoffs the san antonio spurs and oklahoma city thunder just a win away from making the third round san antonio beat the l.a.
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ninety six to eighty six and that gives them a green they'll seriously and their best is seven contests while oklahoma three one up in their tie with the los angeles lakers winning their latest encounter one hundred three points to one hundred rational russell westbrook getting thirty seven of them. you know we can't fly we all believed in each other. as for me i just. try to find a way to keep using the game you know i was a little stiffer have time to play yours and you know you can afford to sit back and want to run it now it is semi final state goal of world match play championship with graeme mcdowell to up against rafael to put out a bellow at the moment after the fourteenth whole. story after the sixteenth hole before larry is one up against nicklaus with just a few holes left the played well there's also been action in the states where jason
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dufner he leads the bar nelson championship in texas with a round left to play he has a one stroke lead over jason de j.j. henry and taking pride. moto g.p. dani pedrosa will start this afternoon's french grand prix on pole position the spaniard was just three hundred service second quicker than honda to make a stone qualifying destroying will be seeking a second straight we know of the garden circuit while andrea will be zero zero got the better of twenty ten champion you'll get enzo to start for that race starting in just over an hour's time. i'm finally becoming a team player isn't always an easy task but children from around moscow now have the chance to develop their bonding skills like they never have done before miles because of change there has been finding out. camps for children and youths have always been promoted healthily throughout russia but looking for more specialized
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adventures which develop and hone skills and help promote interaction are still far few between but russian adventure and matter and it's fun to have managed to bring team building exercises to the outskirts of moscow. located roughly one hundred kilometers from the capital is the first fully equipped obstacle course of its kind in russia. the main difference between the schools and others you can find around russia is that it focuses on providing challenges for kids to say in groups of seven or eight which can only be tackled as a team and the fact that they have to complete these tasks such as crossing a random bridge or together they learn new skills and qualities and overall become more confident indeed watching a group of hearing impaired kids taking on a devilishly tricky crossing six metres above ground is inspiring and although it's meant first and foremost for the less fortunate children organize insist they have been plenty of healthy adults who've chickened out when dead not so for these
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little adventure seekers so how's your experience been like that well of course it's scary when you climb on here and what else has happened on your own it would be difficult but my teammates make it easy there are quite a few different obstacle courses available from rock climbing to trench style insurance tests but it's the rubicon the towering construction in the heart of the camp to draw the most gasps now it's named after the italian river that to seize and his army once crossed back in forty nine a d. and of course it also means crossing the rubicon means crossing a point of no return now the organizers and creators although this obstacle say that it cannot be reached or completed by yourself you need a team for that but i'm going to sneak ahead of the pack here and see if i. completed without any extra help. and
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of course. this is easy as. well i may have been the truth a little bit back it really is a difficult obstacle course and there's absolutely no way appreciate all you it's truly amazing how productive and proactive even the most shy or disabled child becomes once put to the task beverly's i learned how to keep my balance and control my fears how did you do that well don't be scared and keep going. back again yeah i'd like to come back next year so it's better than playing bass they said it's better than a play station there may be only one rubicon in russia at the moment but with such experience that these kids take away with them it can only be a matter of time before the secret gets out. of moscow region thing mark enjoyed himself that is always more.
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you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else and you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom harvey welcome to the big picture.
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