today david cameron insisted that britain needs the european union, once to stay in the european union, once to be a good partner for trade. indeed, one-third of the british exports go into the european union. it would be, in this difficult economic time, it would be economic suicide, frankly, to leave the european union for britain. >> thank you so much. a strong britain inside of the european union. that is what the european monetary affairs commissioner wants to see. he says that it is unfortunate that britain has found itself in a position where it is not involved in the european union's economic decisions. >> for the sake of europe and its crisis, and for the sake of the british citizens and their perspectives, we want to swing at a constructive britain and europe. we want britain to be at the center of europe, not on the sidelines. >> well, the european union has certainly not seen the post- summit signals that they certainly wanted to see from the markets. that is an understatement. >> investors want so desperately to believe in the solution, but there is still way too much doub

on the basis of the european union treaties. thus we will apply european union monitoring as enforced and there will be no other parallel or competing structures. the commission acting pursuant to the treaties will monitor how the member states have been living up to their additional commitments made in this agreement. i intend to make full use of article 156 by proposing to this house all the legislation that will be needed to make this construction work to tie this fiscal compact back to law and to butt tress it with democratic atlantasy of this parliament. . . at this moment, i want to analyze the historic agreement signed from croatia. it is important that members states agree on a fiscal compact. this is not enough. the problems are not only fiscal. they are also financial. it is due to a lack of competitiveness. we need to restore growth and employment. the reality is that -- competitiveness and growth and measures are keyed to restore the confidence of our citizens. that is why i insist on the need to pursue an approach i

european union has done is it has made it impossible. the secret diplomacy on any given day in brussels will be a meeting of agricultural ministers of transport minister is it doesn't even make a press release and i would such a normal thing for that to be happening so that is a good thing that we should be talking together that we should be collaborating on matters that we can't achieve singly and we should be arbitrating i'll just use these things no one is going to disagree with that but i have that big you really don't need all the rest you don't need the bureaucracy you don't need the common agricultural policy you don't need the common fisheries policy you don't need the euro all of the rest is not only irrelevant to that goal but is actively harmful to it because as we now see the extent of integration far from spreading peace and goodwill in europe has had the effect it's actually increased national antagonisms to a greater level than they've been up since the second world war so many of the leaders right now want to forge on the

union and of being part of it the one thing the one thing that the european union has done is it has a major impossible. the secret diplomacy on any given day in brussels will be a meeting of agriculture ministers will transport ministers it doesn't even make a press release and i would such a normal thing for that area. so that is a good thing that we should be talking together that we should be collaborating on matters that we can't achieve singly and we should be arbitrating i'll just use these things no one is going to disagree with that but i have that but you really don't need all the rest you don't need the bureaucracy you don't need the common agricultural policy you don't need the common fisheries policy you don't need the euro all of the rest is not only irrelevant to that goal but is actively harmful to it because as we now see the extent of integration far from spreading peace and goodwill in europe has had the effect it's actually increased national antagonisms to a greater level than they've been up since the second world war so many of the leaders right now who still w

in 1982, it became the european union. leaders signed a treaty authorizing the introduction of a common currency at. years later, euro coins and bills went into circulation in 12 countries, the eurozone. as the you continue to expand, it became more cumbersome -- as the eu continued to expand, it became more cumbersome. it allowed some decisions be made by majority, included requiring met -- requiring unanimous support. voters in france and the netherlands rejected the first official draft version. a watered-down constitution was adopted in 2007, the treaty of lisbon. >> this treaty is for the future, to make european development more efficient and more modern. >> despite the reforms, the conflicting national interests of member states remained an issue. europeans continued to debate long and hard over every decision. >> that has certainly been the case regarding the euro and its future. eu leaders needed to come up with a concrete plan to restore confidence in them bloc and -- the bloc and calm investors' fears. they are

union have free trade agreements with the european union? >> there's a growing number. obviously, countries like mexico, now we got the korea free trade agreement. i'm keen to finalize the japan free trade agreement. i think effort should be made to have these treaties because they're good for both sides. >> can i pay tribute to the practical approach that the prime minister took to the negotiations at last week? and can i also say those practical obvious negotiations seem now to be supported by the leader of the opposition who they at the briefing say he would not sign the agreement the same way the prime minister did? >> either he has no control over his aides who are randomly briefing the press. [laughter] >> that is his position or he failed to el it the house that his, you know, minutes and minutes of intervention -- whether or not he would have signed -- look, you can -- if you want to sign it, then you can say i made the right decision. if you're not going to sign it then you have to accept i made the right decision. you either got to

union is falling behind further and further in the world economy that's it and the european union would argue that because of these projects they are in fact helping the growth expansion and progress of member states of the european union do you think it's a good does outweigh the bad in this case if he you funds were the way to growth greece would now be the richest country in the union and germany would now be the poorest. and the crowds would be marching furiously in kiel in hamburg and duesseldorf protesting about the greek loans right. just as with individuals so with entire states if you become dependent on subsidies from somewhere else that subzero enterprise you start perfectly irrationally arranging your affairs around qualifying for the grounds instead of creating wealth and this is the trend. city of the recipient countries the best and brightest people in those countries the entrepreneurs the people who could have done so much making things inventing things selling things creating businesses in their home states because nothing can compete with the advantages of being on the

union is falling behind further and further in the world economy that's it and the european union would argue that because of these projects they are in fact helping the growth expansion and progress of member states of the european union do you think the good does outweigh the bad in this case if we you funds were the way to growth greece would now be the richest country in the union and germany would now be the poorest. and crowds would be marching furiously in kiel than hamburg and duesseldorf protesting about the greek loans right. just as with individuals so with entire states if you become dependent on subsidies from somewhere else that saps your enterprise you start perfectly rationally early ranging your affairs around qualifying for the grounds instead of creating wealth and this is the trend. city of the recipient countries the best and brightest people in those countries the entrepreneurs the people who could have done so much making things inventing things selling things creating businesses in their home states because nothing can compete with the advantages of being on the

union is falling behind further and further in the world economy that's it and the european union would argue that because of these projects they are in fact helping the growth expansion plan grass of member states of the european union do you think the good does outweigh the bad in this case if he you funds were the way to growth greece would now be the richest country in the union and germany would now be the poorest in here and crowds would be marching furiously in kiel in hamburg and duesseldorf protesting about the greek loans right. just as with individuals so with entire states if you become dependent on subsidies from somewhere else that saps your enterprise you start perfectly rationally early ranging your affairs around qualifying for the grounds instead of creating wealth and this is the tragedy of the recipient countries the best and brightest people in those countries the entrepreneurs the people who could have done so much making things inventing things selling things creating businesses in their home states because nothing can compete with the advantages of being on the e

european being part of it the one thing the one thing that the european union has done. is it has made it impossible. the secret diplomacy on any given day in brussels will be a meeting of agricultural ministers of transport minister is it doesn't even make a press release and i would such a normal thing for that to be happening so that is a good thing we should be talking together we should be collaborating on matters that we can't achieve singly and we should be arbitrating i'll just use these things no one is going to disagree with that but i have that that you really don't need all the rest you don't need the bureaucracy you don't need the common agricultural policy you don't need the common fisheries policy you don't need the euro all of the rest is not only irrelevant to that goal but is actively harmful to it because as we now see the extent of integration far from spreading peace and goodwill in europe has had the effect it's actually increased national antagonisms to a greater level since the second world war. hero in its current form especially german chancello

union is falling behind further and further in the world economy that's it and the european union would argue that because of these projects they are in fact helping the growth expansion and progress of member states of the european union do you think the good does outweigh the bad in this case if e.u. funds were the way to growth greece would now be the richest country in the union and germany would now be the poorest. and crowds would be marching furiously in kiel in hamburg and duesseldorf protesting about the greek loans right. just as with individuals so with entire states if you become dependent on subsidies from somewhere else that subsequent reprise you start perfectly rationally early ranging your affairs around qualifying for the grounds instead of creating wealth and this is the tragedy of the recipient countries the best and brightest people in those countries the entrepreneurs the people who could have done so much making things inventing things selling things creating businesses in their home states because nothing can compete with the advantages of being on the e.u. payro

european part of it the one thing the one thing that the european union has done. is it has made it impossible. the secret diplomacy on any given day in brussels will be a meeting of agricultural ministers of transport ministers it doesn't even make a press release and i would such a normal thing for that to be happening so that is a good thing that we should be talking together that we should be collaborating on matters that we can't achieve singly and we should be arbitrating i'll just use these things no one is going to disagree with that but i have that but you really don't need all the rest you don't need the bureaucracy you don't need the common agricultural policy. you don't need the euro all of the rest is not only irrelevant to that goal that is actively harmful to it because as we now see the extent of integration far from spreading peace and goodwill in europe has had the effect it's actually increased national antagonisms to a greater level than they've been up since the second world war how many of the leaders right now. especially german chancellor an

union is falling behind further and further in the world economy that's it and the european union would argue that because of these projects they are in fact helping the growth expansion and progress of member states of the european union do you think the good does outweigh the bad in this case if he you funds were the way to growth greece would now be the richest country in the union and germany would now be the poorest. and crowds would be marching furiously in kiel in hamburg and duesseldorf protesting about the greek loans right . just as with individuals so with entire states if you become dependent on subsidies from somewhere else that subsequent reprise you start perfectly rationally early ranging your affairs around qualifying for the grounds instead of creating wealth and this is the trend. city of the recipient countries the best and brightest people in those countries the entrepreneurs the people who could have done so much making things inventing things selling things creating businesses in their home states because nothing can compete with the advantages of being on the e.u

union and of being part of it the one thing the one thing that the european union has done is it has a major impossible. the secret diplomacy on any given day in brussels will be a meeting of agriculture ministers will transport minister is it doesn't even make a press release and i would such a normal thing for that to be happening so that is a good thing that we should be talking together that we should be collaborating on matters that we can't achieve singly and we should be arbitrating. no one is going to disagree with that but to have that big you really don't need all the rest you don't need the bureaucracy you don't need the common agricultural policy you don't need the common fisheries policy you don't need the euro all of the rest is not only irrelevant to that goal but is actively harmful to it because as we now see the extent of integration far from spreading peace and goodwill in europe has had the effect it's actually increased national antagonisms to a greater level than they've been up since the second world war now many of the leaders right now want to forge that with

union one of the issues that the european union faces in a very big way that it's labor markets is that in different parts of the european union there are different standards of development ok you have much more sophisticated north and less sophisticated south that could be that the same issue with c.i.s. countries as well which you agree i would say that. there are two points to what stephen mentioned one is the. the central bank issue is one specifically that video of recently addressed saying that we recognize this as an inadequacy in the european attempts to resolve their crisis and and hopefully we can learn i think the difficulty of the most advanced aspect of this integration the bill russian russian union very often founders on that very issue so it's a laugh to be it's a good test case to see where they had with that and whatever model they develop we might be a model that works for for the rest of the. for the rest of the. c.i.s. . ok. ok it's interesting here you go to stephen here and stephen. what's what's your sense here you know it does russia really want to go down this

lisbon treaty or any other treaty that has to do with the european union because he knows it will fail so i mean let democracy take its course yeah is that a referendum is not democracy it is what it means in a market that is a demand that they're going to form their own what is it what is it there are many no there are many systems there are many systems and the river in them is. long past one side of it and i wish i wish mr cameron a lot of luck let him read the financial times this boarding and. give him a good advice ok james if i can go to you are we going to go through the whole process again with the european union well just keep asking though are different question until they get you get the right answer or you keep going through this one who passed or another after another and then all of it all this time it's like the titanic that is going to hit that iceberg and think. that has been the practice in the past. the other con the question of democracy it is fairly clear at the moment that the leaders are particularly interested in democracy i mean no one voted to mario monti no

union one of the issues that the european union faces in a very big way that it's labor market is that in different parts of the european union there are different standards of development ok you have much more sophisticated north and less sophisticated south that could be that the same issue with c.i.s. countries as well when you agree i would say that. there are two points to what stephen mentioned one is the. the central bank issue is one specifically that video of recently addressed saying that we recognize this as an inadequacy in the european attempts to resolve their crisis and and hopefully we can learn i think the difficulty of the most advanced aspect of this integration the bill russian russian union very often founders on that very issue so it's a laugh to be it's a good test case to see where they had with that and whatever model they develop we might be a model that works for for the rest of the. for the rest of the. c.i.s. . ok. ok it's interesting here i'm going to stephen here stephen. what's what's your sense here and you know it does russia really want to go down thi

european union has done is it has made it impossible. the secret diplomacy on any given day in brussels will be a meeting of agriculture ministers or transport minister is it doesn't even make a press release and i would such a normal thing for that to be happening so that is a good thing that we should be talking together that we should be collaborating on matters that we can't achieve singly and we should be arbitrating i'll just mute the sleaze no one is going to disagree with that but to have that big you really don't need all the rest you don't need the bureaucracy you don't need the common agricultural policy you don't need the common fisheries policy you don't need the euro all of the rest is not only irrelevant to that goal but is actively harmful to it because as we now see the extent of integration far from spreading peace and goodwill in europe has had the effect it's actually increased national antagonisms to a greater level than they've been up since the second world war so many of the leaders right now want to forge. it's c

union is falling behind further and further in the world economy that's it and the european union would argue that because of these projects they are in fact helping the growth expansion and progress of member states of the european union do you think the good does outweigh the bad in this case if e.u. funds were the way to growth greece would now be the richest country in the union and germany would now be the poorest. and crowds would be marching furiously in keeled in hamburg and duesseldorf protesting about the greek learners right. just as with individuals so with entire states if you become dependent on subsidies from somewhere else that saps your enterprise you start perfectly rationally arranging your affairs around qualifying for the grounds instead of creating wealth and this is the tragedy of the recipient countries the best and brightest people in those countries the entrepreneurs the people who could have done so much making things inventing things selling things creating businesses in their home states. because nothing can compete with the advantages of being on the e.u. p

union is falling behind further and further in the world economy that's it and the european union would argue that because of these projects they are in fact helping the growth expansion and progress of member states of the european union do you think the good does outweigh the bad in this case if e.u. funds were the way to growth greece would now be the richest country in the union and germany would now be the poorest. and crowds would be marching furiously in kiel in hamburg and duesseldorf protesting about the greek loans right. just as with individuals so with entire states if you become dependent on subsidies from somewhere else that some sort enterprise you start perfectly rationally early ranging your affairs around qualifying for the grounds instead of creating wealth and this is the tragedy of the recipient countries the best and brightest people in those countries the entrepreneurs the people who could have done so much making things inventing things selling things creating businesses in their home states because nothing can compete with the advantages of being on the e.u. pay

union one of the issues that the european union faces in a very big way that it's labor markets is that in different parts of the european union there are different standards of development ok you have much more sophisticated north and less sophisticated south that could be that the same issue with c.i.s. countries as well when you agree i would say that. there are two points to what stephen mentioned one is the. the central bank issue is one specifically that video of recently addressed saying that we recognize this as an inadequacy in the european attempts to resolve their crisis and and hopefully we can learn i think the difficulty of the most advanced aspect of this integration the bill russian russian union very often founders on that very issue so it's a laugh to be it's a good test case to see where they had with that and whatever model they develop we might be a model that works for for the rest of the. for the rest of the. c.i.s. . ok. ok it's interesting here i'm going to stephen here stephen. what's what's your sense here and you know it does russia really want to go down thi

european union has done is it has made it impossible. the secret diplomacy on any given day in brussels will be a meeting of agricultural ministers of transport minister is it doesn't even make a press release and i would such a normal thing for that to be happening so that is a good thing we should be talking together that we should be collaborating on matters that we can't achieve singly and we should be arbitrating i'll just use the skills no one is going to disagree with that but i have that you really don't need all the rest you don't need the bureaucracy you don't need the common agricultural policy you don't need the common fisheries policy you don't need the euro all of the rest is not only irrelevant to that goal but is actively harmful to it because as we now see the extent of integration far from spreading peace and goodwill in europe has had the effect it's actually increased national antagonisms to a greater level since the second world war now many of the leaders right now. it's current form especially german chancellor ang

lisbon treaty or any other treaty that has to do with the european union because he knows it will fail so i mean let democracy take its course yeah but a referendum is not democracy it is. the marker that is a demand that they're going to form their own what is it what is it there are many no there are many systems there are many systems and the river in them is. long past one side of it and i wish i wish mr cameron a lot of luck let him read the financial times this boarding. give him a good advice ok james if i can go to you are we going to go through the whole process again with the european union well just keep asking there are different question until they get get the right answer or you keep going through this one who passed or another after another and then all that to all this time it's like the titanic that is going to hit that iceberg and sink. that has been the practice in the past. the other guy on the question of democracy i think it's fairly clear at the moment that the e.u. leaders are particularly interested in democracy i mean no one voted for mario monti no one voted.

union meeting european the european union does not need more centralization excessive centralisation has actually been the key problem and the reason that we are facing the current crisis the euro has been a project of the planning economy developed and inforced from the top the members that have become part of the eurozone projects are very much different from one another and cannot provide a common homogenous currency space that's what has become so obvious under the present situation now they want to resolve the problem by introducing more centralization while centralization is the root cause of the problem the economy speaks for itself the capital flight is enormous and some analysts say that the situation resembles that in the us before. the crash of brothers how real is the threat of a collapse of the euro zone now. the threat of a complete collapse of the euro zone is a means that is used by the european states and the banks to blackmail european taxpayers if this pressure is not resisted then the so-called rescue umbrella will have to be extended over and over but every umbre

and finally saving the european union has become some sort of. european elite. like i've already said saving the euro as a project imposed from the top down based on overrating the notion of european unity after all europe is not merely the seventeen states that formed the euro zone it's not even the twenty seven member states of the european union in fact europe comprises some fifteen nations and by the way that includes russia which is also part of europe with that in mind i believe it was the elites headquartered in brussels that promoted this project from the top aiming to drive europe into a new form of centralism and i think it's wrong in my mind europe's advantage is exactly it's inclusiveness and its diversity and forms of different cultures languages mentalities and people it comprises and imposing uniformity and looks like a mistake to me this notion probably stems from the so-called brussels centralism mindset which has been put in practice by the french it's very dangerous and completely unnecessary. mr scheffler thank you very much for your time tha

about turkey so i think that i'm not saying that russia will never be in the european union you know my own vision is that in one hundred years from that well it seems as though just from now the european union will have extended to the whole planet actually because i think we are the seeds of a new model of world governance so the european union is a very serious thing but if you tell me in ten years that is not the slightest chance for russia to join surprised to hear that they are in for as many people now that are the. basis for your play. especially with doing so badly you really think such a strong foundation ok last and actually expand. again i'm talking long very long term horizon for for one simple reason you know globalization means more and more interdependence with more and more interdependence the risk of a small incidence of accidents somewhere have a huge consequence is all over the world this risk is increasing very fast which means that we will have to invent totally new modes of governance and this is exactly what we are experimenting. european union level of course

partner and european union is the first trading partner for four russian. let me take these occasions to tell you how pleased i am with the news coming today from from geneva in fact negotiations in geneva on the renewed government procurement agreement so-called g.p.a. were concluded successfully today between dupion union and the other parties on an updated set of ten the rules and additional market access commitments this agreement which russia will also be able to join after its accession is a significant contribution to the multilateral trading system which prove the relevance of the hero in particular in the current economic climate this will lead to more trade and i believe to benefit. all economies including of course europe's economy today semi it was also no question to discuss so we can go further i think we should bring our contract links to a new level which is commensurate with the importance of our relations i am convinced that with strong commitment of both sides we will achieve in the future a balance in the vicious agreement that will brin

lisbon treaty or any other treaty that has to do with the european union because he knows it will fail so i mean let democracy take its course yeah but the referendum is not democracy it is. a marker that is a demand that they're going to form their own what is it what is it there are many no there are many systems there are many systems and the river and them is. part of one side of it and i wish i wish mr cameron a lot of luck let him lead the financial times this boarding. give him a good advice ok james if i can go to you are we going to go through the whole process again with the european union well just keep asking though i different question until they get you get the right answer or you keep going through this one who passed or another after another and then all of a to all this time it's like the titanic that is going to hit that iceberg and think. that has been the practice in the past. the other con the question of democracy it is fairly clear at the moment that the e.u. leaders are particularly interested in democracy i mean no one voted for mario monti no one voted. greece

they want to leave the european union. they are campaigning for britain to have a new vote on union membership. >> there are a lot of people associated with the campaign that say that this could do quite well as outside of the european union. they would cite the examples of norway or switzerland. >> they say that they want what is best for britain. at the same time, they are canny businessman and knows that europe also provides them with many advantages. >> the issue of delaying retirement age is creating kellogg of unrest in europe. even when they reached the age that they can claim their pensions, they can barely survive on the money that they've received. the only answer is to go back to work. they are coming out of retirement to go back to their bakery. >> even before the first baguette left the oven, the small bakery made headlines. it is opening day for the best known bakers in france right now. he spent the entire night in the bakery. he is 84 years old. they have been retired 12 years but now have gone back to work

they're both so i think that i'm not saying that russia will never be in the european union you know my own vision is that in one hundred years from that well it seems as though just from now the european union will have extended to the whole planet actually because i think we are the seeds of a new model of world government so the european union is a very serious thing but if you tell me in ten years i think that is not the slightest chance. for russia to join so surprised to hear that theory from as many people now that at the. basis for your playing very well specially with doing so badly you really think such a strong foundation i can last and actually expand. yet. again i'm talking long very long term horizon for one simple reason you know globalization means more and more into dependence and with more and more interdependence the risk of the small incidence of accidents somewhere have a huge consequence is all over the world this risk is increasing very fast which means that we will have to invent totally new modes of governance and this is exactly what we are experimenting. eu

and finally saving the european union has become some sort of. the european elite. yeah that's like i've already said saving the euro is a project imposed from the top down based on over rating the notion of european unity after all europe is not merely the seventeen states that formed the eurozone it's not even the twenty seven member states of the european union in fact europe comprises some fifteen nations and by the way that includes russia which is also part of europe with that in mind i believe it was the elites headquartered in brussels that promoted this project from the top aiming to drive europe into a new form of centralism and i think it's wrong in my mind europe's advantage is exactly it's inclusiveness and its diversity in forms of different cultures languages mentalities and the people it comprises and imposing uniformity and looks like a mistake to me this notion probably stems from the so-called brussels centralism mindset which has been put in practice by the french it's very dangerous and completely unnecessary. thank you very much for your time t

all the european union all top of that there are bilateral agreements. which europe japan china india lies in the us have or which go farther than the degree which has been multilaterally accepted in the world trade organization so is this a good thing or a bad thing is a very good question very difficult question to answer in a way it's a good thing because it opens trade lol and after all our business being to open trade in old up to increase the potential to the welfare of economy is ease as well as served up by a bilateral trade opening as it is by multi that trade over opening so that's the good side if on the contrary a buy that through agreement leads to restrict trade not least for instance if you agree on the regulatory standards which would be bilateral and not multilateral then it can be a problem so it's not all black or white to. depends very much on what they result in these bilateral negotiations and you know once russia has joined the world trade have shrunk my expectation is that russia like other is well. into but not true and trade rel

the world would be interest and one of the predictions was that russia will be part of european union do you think it's possible you know why not first of all. russia is much too big you know and i think that. europe president loves a lot in since the collapse of the soviet union twenty years ago and we have not they just. the newcomers and don't forget that we have a huge controversy about. just cannot emerge in the candidacy of russia. in a time when we are still struggling and debating a bangle so. about turkey so thing that i'm not saying that russia will never be in the european union you know my own vision is that in one hundred years from now or two hundred years from now the european union will have extended to the whole planet actually because i think we are the seeds of a new model of world government so the european union is a very serious thing but if you tell me in ten years that there is not the slightest chance for russia to join surprised to hear that theory for many people now that the. basis for your play very well specially with a. badly you really think such a stro

union one of the issues that the european union faces in a very big way that it's labor markets is that in different parts of the european union there are different standards of development ok you have much more sophisticated north and less sophisticated south that could be that the same issue with c.i.s. countries as well when you agree i would say that. there are two points to what stephen mentioned one is the. the central bank issue is one specifically that video of recently addressed so that we recognize this as an inadequacy in the european attempts to resolve their crisis and and hopefully we can learn i think the difficulty of the most advanced aspect of this integration the bill russian russian union very often founders on that very issue so it's a laugh to be it's a good test case to see where they had with that and whatever model they develop we might be a model that works for for the rest of the. for the rest of the. c.i.s. . ok. ok this is interesting here and i'm going to stephen here stephen. what's what's your sense here and you know it does russia really want to go down

the judge germans are saying to the entire twenty seven member members of the european union give up fiscal sovereignty or else is it going to happen and if it does what does it mean well it's going to happen but the point to it is not the arms to the crisis it's addressing the wrong problem it's really it's interesting a problem of fiscal deficits which are a consequence. of the financial crisis and it is that which they should be testing they're not looking at the causes of the crisis which is the broken global banking system instead they're looking at the consequences and trying to fix this call deficit and that's not can solve the problem ok james i mean it's interesting with those because s. and p. is threatening to downgrade everybody for one thing and then you also you also have this countdown i don't know if it's popular media for days to go three days to go and then the you're always going to think what's going on here is this what is this summit in is going to happen on the ninth change anything and if it is going to change it will change for the better. i think it's a cont

union meeting european the european union does not need more centralization excessive centralization has actually been the key problem and the reason that we are facing the current crisis the euro has been a project of the planning economy developed and inforced from the top the members that have become part of the eurozone project are very much different from one another and cannot provide a common homogenous currency space that's what has become so obvious under the present situation now they want to resolve the problem by introducing more centralization centralization is the root cause of the problem the economy speaks for itself the capital flight is enormous and some analysts say that the situation resembles that in the us before. the crash of brothers how real is the threat of a collapse of the euro zone. the threat of a complete collapse of the eurozone is a means that is used by the european states and the banks to blackmail european taxpayers if this pressure is not resisted then the so-called rescue umbrella will have to be extended over and over but every umbrella has its

vision is that in one hundred years from that one two hundred just from now the european union will have extended to the whole planet actually because i think we are the seeds of a new model of world government so the european union is a very serious thing but if you tell me in ten years that that is not the slightest chance. for russia to join so surprised to hear that theory for many people now that at the. basis for your play. well specially with a. badly you really think such a strong foundation that it can last and actually expand. again i'm talking long very long term horizon for fall for one simple reason you know globalization means more and more interdependence with more and more interdependence the risk of a small incidence of accidents somewhere have a huge consequence is all over the world this risk is increasing very fast which means that we will have to invent totally new modes of governance this is exactly what we are experimenting. european union level of course progress is difficult of course in the case of the you will we know at the very defining moment . my guess

union meeting european the european union does not need more centralization excessive centralization has actually been the key problem and the reason that we are facing the current crisis the euro has been a project of the planning economy developed and inforced from the top the members that have become part of the eurozone project very much different from one another and cannot provide a common homogenous currency space that's what has become so obvious under the present situation now they want to resolve the problem by introducing more centralization centralization is the root cause of the problem the economy speaks for itself the capital flight is enormous and some analysts say that the situation resembles that in the us before. brothers how real is the threat of a collapse of the eurozone. told us that the threat of a complete collapse of the euro zone is a means that is used by the european states and the banks to blackmail european taxpayers if this pressure is not resisted then the so-called rescue umbrella will have to be extended over and over but every umbrella has its limi

in the process the u.s., u.k., much of the european union has become unsustainably large. outside of shanghai, this farmer is living and working in harsh conditions of the sort we have not seen in britain for 100 years. the economic miracle allowed his son to escape the poverty of the land. >> my son does not do this. my village is in an industrial area. on the farm, we live at the mercy of the elements which means the income is not stable. my son will not do farm work. he is a salesman in a factory. >> because of the millions coming into the jobs market every year, china needs economic growth of 8% or more to prevent social unrest. purchases of chinese products probably will not deliver that prosperity. i asked the new generation of billionaires' whether the chinese themselves can be persuaded to spend more. >> yes, it is happening. consumption is growing at a faster rate in the economy. workers' wages have been improving and that will drive consumption. the older generation is not spend too much but the younger generation has almost the same spending habits as their amer

union one of the issues that the european union faces in a very big way that it's labor market is that in different parts of the european union there are different standards of development ok you have much more sophisticated north and less sophisticated south that could be that the same issue with c.i.s. countries as well when you agree i would say that. there are two points to what stephen mentioned one is the. the central bank issue is one specifically that video of recently addressed saying that we recognize this as an inadequacy in the european attempts to resolve their crisis and and hopefully we can learn i think the difficulty of the most advanced aspect of this integration the bill russian russian union very often founders on that very issue so it's a laugh to be it's a good test case to see where they had with that and whatever model they develop we might be a model that works for for the rest of the. for the rest of the. c.i.s. . ok. ok it's interesting here i'm going to stephen here and stephen. what's what's your sense here and you know it does russia really want to go down

union is falling behind further and further in the world economy that's it and the european union would argue that because of these projects they are in fact helping the growth expansion and progress of member states of the european union do you think the good does outweigh the bad in this case if he you funds were the way to growth greece would now be the richest country in the union and germany would now be the poorest. and crowds would be marching furiously in kiel and hamburg and duesseldorf protesting about the greek loans right. just as with individuals so with entire states if you become dependent on subsidies from somewhere else that saps your enterprise you start perfectly rationally arranging your affairs around qualifying for the grounds instead of creating wealth and this is the tragedy of the recipient countries the best and brightest people in those countries the entrepreneurs the people who could have done so much making things inventing things selling things creating businesses in their home states because nothing can compete with the advantages of being on the e.u. payr

vision is that in one hundred years from that one two hundred just from now the european union will have extended to the whole planet actually because i think we do seeds of a new model of world governance so the european union is a very serious thing but if you tell me in ten years that that is not the slightest chance. for russia to join so surprised to hear that theory for many people now that at the. basis for your play very well specially with. badly you really think you're playing such a strong foundation that it can last and actually expand. yet. again i'm talking long very long term horizon for fall for one simple reason you know globalization means more and more into dependence with more and more interdependence the risk of small incidents or accidents have a huge consequence is all over the world this risk is increasing very fast which means that we will have to invent totally new modes of governance and this is exactly what we are experimenting. european union level of course progress is difficult of course in the case of the you will we know at the very defining moment.

vision is that in one hundred years from that one two hundred years from now the european union will have extended to the whole planet actually because i think we do seeds of a new model of world government so the european union is a very serious thing but if you tell me in ten years that that is not the slightest chance. for russia to joy so surprised to hear that theory for many people now that at the. basis for your playing. well specially with a. badly you really think such a strong foundation that it can last and actually expand. yet. again i'm talking long very long term horizon for fall for one simple reason you know globalization means more and more into dependence with more and more interdependence the risk of the small incidence of accidents have a huge consequence is all over the world this risk is increasing very fast which means that we will have to invent totally new modes of governance this is exactly what we are experimenting. european union level of course progress is difficult of course in the case of the you will we know at the very defining moment . my guess by th

about turkey so thing i'm not saying that russia will never be in the european union you know my own vision is that in one hundred years from that one two hundred years from now the european union will have extended to the whole planet actually because i think we are the seeds of a new model of world government so the european union is a very serious thing but if you tell me in ten years that that is not the slightest chance. for russia to join so surprised to hear that theory for many people now that at the. basis for your playing very well specially with. badly you really think you are playing such a strong foundation that it can last and actually expand. yet. again i'm talking long very long term horizon for fall for one simple reason you know globalization means more and more interdependence with more and more interdependence the risk of the small incidence of accidents somewhere have a huge consequence is all over the world this risk is increasing very fast which means that we will have to invent totally new modes of governance and this is exactly what we are experimenting. euro

well actually the european union thought about going down this route when the year was created and it decided not to for very practical reasons if for example a country suddenly has a big budget deficit and breaks whatever the rules are the rules that the that are set so that its budget deficit is too large the only real sanction of the members can impose on the on the offending member is some kind of fine which actually lead to a situation worse so that was rejected when the european stability pact was first going to not now is that there's. no i mean it's up. it's up for discussion now but it's no more obvious how this would work in the future you know if one were to find greece a four percent of gross national product because of the fact that it had broken the stability pact how would that help the situation that greece was in and i think this just underlines the problem and it's why we haven't had a solution so far there is no easy way out of this mess that doesn't involve individual member governments facing up to their own problems or i'd professor phillip thank you ever so much

about turkey so things that i'm not saying that russia will never be in the european union you know my own vision is that in one hundred years from that well two things are just from now the european union will have extended to the whole planet actually because i think we are the seeds of a new model of world governance so the european union is a very serious thing but if you tell me in ten years i think that is not the slightest chance for russia to join so surprised to hear that theory for many people now that the. basis for your play. especially with a. badly you really think such a strong foundation i can last and actually expand. again i'm talking long very long term horizon for one simple reason you know globalization means more and more interdependence with more and more interdependence the risk of a small incidence of accidents somewhere have a huge consequence is all over the world this risk is increasing very fast which means that we will have to invent totally new modes of governance and this is exactly what we are experimenting. european union level of course but progress i

about turkey so i think that i'm not saying that russia will never be in the european union you know my own vision is that in one hundred years from that well it seems as though just from now the european union will have extended to the whole planet actually because i think we are the seeds of a new model of world government so the european union is a very serious thing but if you tell me in ten years i think that is not the slightest chance for russia to join so surprised to hear that theory for as many people now call that the. basis for your play. especially with doing so badly you really think such a strong foundation i can last and actually expand. again i'm talking long very long term horizon for one simple reason you know globalization means more and more interdependence and with more and more interdependence the risk of a small incidence of accidents somewhere have a huge consequence is all over the world this risk is increasing very fast which means that we will have to invent totally new modes of governance and this is exactly what we are experimenting. european union level

are not changing our relationship with the european union, and we will work with our european partners over the coming months on the need for the e.u. to remove barriers to trade, to complete the single market, to conclude free trade agreement around the world. these remain the most important way for europe to compete and address economic problems and generate essential growth. as you've heard, we share a growing concern with the united states about the situation in syria, and the deplorable violence orchestrated by the regime, and we welcome the continued efforts of the arab league and call on the international community to unite in condemnation of events in syria. our talks reaffirmed our country's close understanding of the threat posed by iran's nuclear program, particularly thank secretary clinton for her robust support over the recent attacks on our embassy and teheran and shared thinking on the expansion of sanctions against iran including european union consideration of measures against the iranian energy sector as part of the pressure on iran to return to negotiations over its