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tv   [untitled]    May 20, 2012 8:30pm-9:00pm EDT

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video on demand. old girl. and street. dot com. this is all she's weekly on these are the headlines. demonstrators clashed with police in chicago when a nation needed a russian outsider strategic plans for i've got to stop i would miss his report coalition by transferring that medals at the convention center in protest of the airline system. russia grounds the world ice hockey club a national team crusher slovakia's sixty tossing all the way through this year's world championship without a single defeat. also the group of eight industrialized nations expressed hope
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greece can stay put in the euro zone but experts paint a very different picture of what's happening behind the scenes. and they do us both things it's also no weapons to bahrain scaling back the mass uprising in the state threatens to unseat the pro western monarchy. right now until you look said the euro zone's from black hole as we talk to a leading economics writer for the guardian newspaper. today i'm talking to a 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 exit will see disorder on the streets of greece as he said 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
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rebellion is 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 can simply say intellect or a vote it came through spirity parties for 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 where they simply privatizing whole swathes of national asset 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
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either greece sticks to this austerity all it quits the euro what's in greece's 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 the way it's commute very painful decision for greece if it stays within the euro it will be forced to stick to some. the program imposed on it from outside for a long time to come and it won't have a great safety valve that's normally given to countries a mistress or being able to devalue its own currency that's a problem with staying in you are living on the other hand of the kind of volatility and turbulence which may well may or may well make the general strikes to rights all the rest of it look like walking a pole 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. german chancellor angela merkel and new
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french president francois hollande says both say that they want greece to stay in the 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 and 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 goes the water stop portugal from going to and talking about sort of house of cards and this is been 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 within some europe
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and within the euro zone and so when anglo merkel said 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 the 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 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
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a year. if the if the european equal just thirty and if the year if european unique was the euro and if the year equal then vote is then what is thirty so 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 the 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
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greece leaving the euro zone it would involve the army being on the street to keep order it would mean the banks would have been shot possibly shot to be a teams would not be working it would mean that people be stopped from leaving the country especially with this moves of euros 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 model of all 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 markets would buy that because the rot has gone so far. financial markets unwilling to lend to spain or to italy that i don't think people any longer see is
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a problem confined to just one or two small countries and what about the situation 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 euros i think withdrawing 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's in a 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 evident in greece for the better 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 to intensive 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 and portion of those debts held by the greek government are held by the greek banks system so effectively a sudden apollo worthless loans and that's before you get on to the loans they've 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 a 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
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a question around you'd have to say it's the most it's an it's the crowning 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 are we german worker has seen his or her wages for over the path their case take out inflation the median german wages fall and four percent over the past decade so
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even you 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 in a past two and a half years is effectively a horse 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 be in power of the year in the first place then oil and says hang on we're in trouble to wow you know the irish they can never control this their property market in portugal well why is 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 get. and so they're very
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belatedly they realize actually this is not just about countries been for but about an extension crisis for the euro. having only just recognize that they're nowhere near putting the policies in place that might save you or. thank you very much. it's not for nothing we have to begin to identify those goals to. push. the muck just to. keep. east peace.
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doesn't keep our people similar band such as a bunch of losers my point i have a very good job people have jobs here that's all nonsense and they don't have jobs they're losers. cause. my last. my. last. thing.
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you know sometimes you see a story and it seems so for like you think you understand it and then you glimpse something. no you hear or see some other part of it and realized everything you thought you knew you don't know i'm sorry welcome to the big picture. of the. wealthy british study done some time to go to the front. yard and i would. market why not. find out what's really happening to the global economy
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with much stronger for a no holds barred look at the global financial headlines conjure reports. of the top stories on all see demonstrate just clashed with police in chicago and they tell you need is a thrashing out the strategy promised on witnesses report coalition veterans of throwing the medals at the convention center in protest at their lines as tactics. the group of eight industrialized nations expressed hope greece had of statehood in the euro zone but experts paint a very different picture of what's happening behind the scenes. because of that it's also to weapons to bahrain to take the mines uprising in the state register our season of western monarchy. to wild ice hockey. at sixteen passing all the way through they says well championship without
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a single cent. and kate is here now with more of that spectacular championship went for russia and the latest for button and i'll be back with a news in about five ten minutes time. and i walk into the latest polls these are the headlines. mean machine russia beats i back here six two in housing p.t. played their third world i saw the time in five years and finished the tournament as the only unbeaten team. while it is of the king's road chelsea parade the champions league trophy through the streets of london after beating fired nearly all three of penalties to become a european champion. under the road to reassure out of that comes from a section full of down to beat believe and retain have a top and open title effect. but first do i psaki and russia have
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changed their third world title in five years after beating surprise package slovakia six two in helsinki to finish the world championships as the only unbeaten team but russia got up to one full start conceding a goal to the no on the blue line just a minute in but alexander shelley equalised knew when to go to the period before alexander and alexis got i think russia a three one lead and showing swiftly netted his second to russia's fourth and then turn provided early in the system that suits one time lucky five one got up pulled one back with the captain's brace was too little too late to step back yet and get him out he made it six like tom to wrap up victory and ensure he finished as the tournament the most valuable player. covered all the title decider the czech republic saved up a late fine fine fine thrilling to win three two and sealed the bronze medal in the third place playoff which means total didn't finish outside the podium and been
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pushing last year's crowd. now thousands of chelsea fans have lined the streets of london as the blues paraded the champions league trophy in an open top bus after beating by a new nick four three on penalties. to win europe's top club competition for the first time while off eighty three minutes thomas will the hot headed the german side on course for victory but overall it had said the match into extra time and though he then conceded a penalty for the blue or yellow rope and missed it so it went to a penalty shoot out and bastian schweinsteiger has missed a drop but a chance to change victory and the man of the much sought to make chelsea champions of europe for the first time in their one hundred seventy history and the first team from london captain john terry who do miss the chance to win the trophy to the spot kick against manchester united four years ago was suspended in munich but still allowed to lift the trophy a lion is trying on part because joy for russian women have provided who finally
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claimed a trophy case crane to spying twelve million years ago and spending an estimated one of the hoff billion dollars. for the welsh protests it would lead. to the speed of a. change still. the boss. stood around the stadium for about two hours. yes that rubber bridge purse strings are the jumpers club suit for the church thank you. for the osbournes your last point yosri loving every second of their despair and. now more that was concerning chelsea six are you sure you are sorry plenty of you very much more than. well meanwhile here in russia the national team have been dealt a heavy blow ahead of the fast approaching european championships as experience defend the city better since he has been ruled out of the tournament and twenty nine year old has failed to recover in time from a long term following muscle injury while at the end of april it is the school
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would have tried to make a comeback after a month out in the two one dog he will ever spot sack if he didn't make it out the second love while it's a big setback because they got the cut lose a central defender he's been a russian regular for over a decade and in an area where the rush. have little strength in depth. those are very. relieved because he still has too much by. now we also have to think and solve another club so we decided together with with him. after dinner. or meanwhile the russians quite are still awaiting the arrival of one member as a sporting midfielder but that is my love remained in portugal to play in sunday's surprise one will defeat to academic a in the portuguese cup final the twenty nine year old has been in good form for that has been signed this season and and his first call up for eight years but he's been given an ultimatum by at the cost he says his mind of must be in moscow on monday if he wants to make the squad. i'm not
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sure which is in television. after the game we have a dog which is not of. any use. but you know i think if you will come to me. you can better state not you can better you can start. tennis now and world number two maria sharapova came back from four love and a second down to defend her italian open crowd following a rain affected marathon with china's knowledge well after losing the first six for the in-form russian battled back from fallout down in the second to take the much into decider where she saved a match point forcing a tie break in the final set when the rain came down and when it finally stopped called out victory seventy five to wrap up the epic battle in almost three hours it was her second title of the season off also we got last month make sure out of the favorite for the french open in
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a week's time that grandson is the only one missing from her collection and gnarly is the defending champion a. few swings because of the weather conditions so you start the match and you know you feel like you're playing really well then you stop and you go off the court you come. and then things just change for some reason you know your opponent starts playing better has time to regroup but this was a situation which you just have a tiebreaker to play so doesn't really matter what your coaches herning one tells you is just about really focusing on a trainer in october. however the men's final has been postponed until monday a top ranked novak djokovic is aiding to defend his title against five time formal winner rafael nadal the spanish while number three prevailed in the past previous meetings and will return to second spot in the rankings if djokovic to claim this record twenty first masters title. now emerge a g.p. former champion hold a renzo is back at the top of the ryder standings after winning the french grand prix in style on
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a wet slim all track the spaniard started from the second row but into the bench. almost ten seconds but nine time champion rossi did overtake holding a stone on the final lap only his second finish since joining a few cattle last year so missed honda teammate danny produces started from pole but that's to settle for fourth while stoner trails in renzo by points in the overall standings. has been difficult he goes on with the long race especially when i was coaching me was very difficult to keep the concentration. and finally becoming a team player isn't always easy but some children from around moscow have had the chance to develop their bonding skills like i've never done before. and that. comes from children and youths have always been promoted healthily throughout
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russia but looking for more specialized adventures which develop and hone skills and help promote interaction are still far few between the russian adventure and borrow and his father had 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 this course and others you can find around russia is that it focuses on providing challenges for kids in groups of seven or eight which can only be tackled as a teen 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 or inspiring and although it's meant first and foremost for the less fortunate children organizers insist
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there have been plenty of healthy adults who have chickened out when dead not for these little adventure seekers so how has your experience been so it was 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 that draws the most gasps now it's named after the italian river that through the seas 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 can complete it without any extra help.
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and of course. this is easy as. well i may have been the truth a little bit that it really is a difficult obstacle course and there's absolutely no way appreciate all you it's truly amazing how productive and productive 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 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. and that's all. i have. so.
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deep in a seat from a decade more than it used to be leaving a legacy of atrocities. nature is chicago some. see.
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