spain was simply better. we played horribly. >> as italy lick its wounds, spain celebrated its historic achievements. the team honored in audience with king juan carlos. >> joining us from the capital madrid is our correspondent there. what has been the mood there over the last 24 hours? >> love, it is a never-ending discotheque, it seems, because after a long, long night, they started very early celebrating here. their intraday by disc jockeys and famous singers, as you can maybe here from behind. the party goes on, and we are to welcome the spanish football team here. [inaudible] i will not imagine what the reactions are of thousands of people that are here. >> is it fair to say that the victory has offered some temporary psychological relief to the people who are suffering under the financial crisis in spain? >> yes, indeed. at least for the last four weeks. today, of course, and maybe the following days, it will be this nice moment to remember. but all the standards i talked to, they were so realistic and

in spain, it is not like in the u.s. when you get out of your home, you lose your home, that you have to pay the rest. you have like a huge debt for the rest of your life. we're doing like an emergency. where they do not get the people out of the houses. we will go to the door of the house and tried to make some civil resistance. >> rodrigo rato who headed bankia, it is bankia evicting many people, right? >> 80% of the evictions in madrid are from bankia. the state bought bankia. now is up the state. that means these evictions will be tomorrow -- >> you are evicting them? >> we spaniards are now the owners of these homes. we are evicting our own people? come on. >> what does it mean to say that rodrigo rato is indicted? >> finally, it happens that maybe eventually one of these guys may be is going to pay. because we citizens have this impression that no one of these guys has any problem. never. they do what they want. they still, like, nothing happens. maybe something is starting to happen, so i am very, very happy. >> t

spain is

united states and spain battling here. spain won the first set. the americans big in set number two. and the usa with a 4-1 lead on the first side change. so drama tonight on the olympic court. phil dalhausser continues to serve. and he's got it! the ace. >> this american team, when they play with urgency, is the best. that's three aces from phil dalhausser. >> 5-1, our score. and spain calls the quick time-out. we'll come back -- comebacks in this tournament have been plentiful. interesting note, 14 of the 19 three-set matches won by the team losing the first set, which is what todd rogers and phil dalhausser have done. >> look at the spray going on. one of the reasons why herrera's able to get back out and feel better, that's the cooling spray that actually works on inflammation. >> i've seen that used in the nba. the don't hurt no more spray. herrera and gavira trying to hang with the americans. you can see todd and phil much more animated now. >> and you can see what he wants phil to do is he wants to keep that right hand on the line. but pres

can no longer borrow from the markets and where spain does need a bailout. it's there right now it's going to happen i believe the consensus opinion right now is that that is exactly what's going to happen bear in mind that germany flirted with excuse me greece. with. seven and a half percent yeah a major mistake that the greece flirted with that seven and a half percent for a while they came and the president of the e.c.b. john kotter say at that time how many big three parties celebrations did they have overgrazed before greece finally imploded and we've seen a number of these same celebrations here over in spain and denials they were denying today you know we've had so many to dial how many of denials do you have to before the country really implodes and i think we're there i i think it's spain is on the verge of a huge breakdown here i think italy's going to follow and there's not enough money in the or the self to bail them all out so one of they're going to do we're at a crisis moment here i expect we're going to announce another summit probably this w

germany's parliament approved an aid package for spain's troubled banks. the bailout could be worth up to 100 billion euros with germans financing about 1/4 of that. >> this is the 10th time the parliament has voted on a bailout package since the eurozone crisis began, and support for all the best use is wearing thin in some places. >> german lawmakers have already backed several packages, but concern is growing about how much europe's debt crisis is costing taxpayers. the finance minister says it is essential that the stability of the spanish banking sector is protected. he denies there is a risk of losing the money and says madrid will be liable for the funds. >> anyone going on about the liability of collective banking debts in the eurozone does not understand the seriousness of the issues, the -- the economic and political concerns at stake. >> spain will have to fulfil certain conditions. it will have to restructure its banking sector, but the opposition social democrats remain skeptical and fear madrid may need much more assistance. >> is the majorit

spain was facing an unprecedented recession. so, the people in spain are angry. eu officials believe it is the right path. our brussels correspondent spoke to us earlier. >> the european commission spokesperson welcomed the announcement by mariano rajoy, but would not comment on the details. they said that the measures looked decisive. what is clear is that the spanish government is following the eu's recommendations. they say that spain has to increase its tax revenues and also shift the tax burden from taxes on labor and income more to consumption. that is what is happening now. also -- also, spanish prime minister mariano rajoy announced that the retirement age will gradually increase to 67 years over the next 15 years. a lot is happening, but a lot more is needed. they are asking spain to do more to tighten and employment, especially amongst young people, to do more to improve the structural systems and get structural reforms under way. brussels does not want spain to enter into even deeper recession. they're watching closely what spain is doing. >> time to t

spain's economic minister insists spain is solvent and will not seek a state bailout despite growing international concerns the country will be forced to do so. >> greece's leaders have agreed in principle the additional cuts needed to plug most of an 11.5 billion euro budget gap. agrees's newspaper says further talks will take place on monday in order to find the remainder of the savings. the prime minister is said to meet with troika officials today. yesterday ec president said now the time for action from athens. >> now 23 hours since the ecb president mario draghi pledged full support for countries. to we have it or don't we have it? no. okay. we don't have it. i think we all know what he said. but what did he mean? that's the key point. our apologies for the confusion. when he talked about the market not functioning properly, the transmission mechanism not working that's within our agreement and we'll do something about it. did he mean, was he saying we might be opening the door there for more bond purchases or was he saying the being market is fragmented and the way we deal wit

germany's parliament approved an aid package for spain's troubled banks. the bailout could be worth up to 100 billion euros with germans financing about 1/4 of that. >> this is the 10th time the parliament has voted on a bailout package since the eurozone crisis began, and support for all the best use is wearing thin in some places. -- support for the rescues. >> german lawmakers have already backed several packages, but concern is growing about how much europe's debt crisis is costing taxpayers. the finance minister says it is essential that the stability of the spanish banking sector is protected. he denies there is a risk of losing the money and says madrid will be liable for the funds. >> anyone going on about the liability of collective banking debts in the eurozone does not understand the seriousness of the issues, the -- the economic and political concerns at stake. >> spain will have to fulfil certain conditions. it will have to restructure its banking sector, but the opposition social democrats remain skeptical and fear madrid may need much more a

fears continue building that spain might need a full-scale bailout. here in the u.s., stocks sold off early, but pared back the loss by the closing bell. the w tumbd 10points, it had been down, as much as, 240 points earlier in the session. the nasdaq lost 35, the s&p was down 12 points. erika miller reports spain's troubles now include the country's regional governments. >> reporter: valencia, spain has long been known for two things-- paella and its large port. but lately spain's third largest city has garnered unwanted attention as the first spanish region to seek a bailout. six others are in danger of following suit. >> it's worrisome, in the sense if they start to line up for bailout money from the national government, which is itself very strained, financially, then there could be a bailout needed from the european partners sooner than expected, previously. >> reporter: and that's why spanish borrowing costs have shot up to record levels. the country's ten-year bonds are yielding 7.5%, raising the risk it won't be able to afford to borrow in pub

fears continue building that spain might need a full-scale bailout. here in the u.s., stocks sold off earl b off early, but pared back the losses by the closing bell. the dow tumbled 101 points, it had been down, as much as, 240 points earlier in the session. the nasdaq lost 35, the s&p was down 12 points. erika miller reports spain's troubles now include the country's regional governments. >> reporter: valencia, spain has long been known for two things-- paella and its large port. but lately spain's third largest city has garnered unwanted attention as the first spanish region to seek a bailout. six others are in danger of following suit. >> it's worrisome, in the sense if they start to line up for bailout money from the national government, which is itself very strained, financially, then there could be a bailout needed from the european partners sooner than expected, previously. >> reporter: and that's why spanish borrowing costs have shot up to record levels. the country's ten-year bonds are yielding 7.5%, raising the risk it won't be able to affo

fears continue building that spain might need a full-scale bailout. here in the u.s., stocks sold off early, but pared back the losses by the closing bell. the dow tumbled 101 points, it had been down, as much as, 240 points earlier in the session. the nasdaq lost 35, the s&p was down 12 points. erika miller reports spain's troubles now include the country's regional governments. >> reporter: valencia, spain has long been known for two things-- paella and its large port. but lately spain's third largest city has garnered unwanted attention as the first spanish region to seek a bailout. six others are in danger of following suit. >> it's worrisome, in the sense if they start to line up for bailout money from the national government, which is itself very strained, financially, then there could be a bailout needed from the european partners sooner than expected, previously. >> reporter: and that's why spanish borrowing costs have shot up to record levels. the country's ten-year bonds are yielding 7.5%, raising the risk it won't be able to afford to borro

. >> let's get over to caroline in spain, back in spain, in valencia. i saw something extraordinary, caroline, yesterday. now they want the lottery to contribute 6 billion into the bailout fund for the regions and the lottery fund itself is asking for loans. it just shows you sort of how everybody is getting impacted. >> yeah. that's absolutely right. we've traveled south a little bit to valencia. we're now in the city of valencia which is the capital of the broader region and this is the region which really set up the latest bout in market jitters when it was the first of the spanish regions to request aid from the government's recently set up liquidity fund. the fact that it did request that money, that shouldn't be a big surprise for the markets because this country, or this region, rather, hasn't had access to the capital markets since the beginning of this year. s&p rated the local bonds junk back in february and this is the second high evident indebted region after okcatlonia. those of you who have been to valencia, this is known as the capital of

italy and spain shall break through after coercing germany's angela merkel into accepting a bank bailout scheme support programs for struggling nations. and whistleblower julian assange defies the police request in london to turn up and be extradited saying he'll stay safe. there until a decision is made on his asylum or just. as a present. speaks to a pulitzer prize winning author on iran's ability to export oil and how it will be affected by the looming sanctions. on the first of july europe will seize importing oil from iran and new u.s. sanctions will also come into place now to talk about how this will affect the energy market i'm now joined by daniel yergin he is the chairman of i chest hair and also author of the quest and pulitzer prize went to daniel it's a big pleasure to have you on the thank you so right now what we're seeing on the energy market is a downward trend although over the years of the economic turmoil two thousand and eight two thousand and nine and the following years we have seen oil prices pretty high what do you make of the downward trend today it's quite rema

can no longer borrow from the markets and where spain does need a bailout. it's there right now it's going to happen i believe the consensus opinion right now is that is exactly what's going to happen bear in mind that germany flirted with excuse me greece. with. seven and a half percent yeah measures they got the greece flirted with seven have percent for a while they came in the president of the e.c.b. john kardashian at the time how many victory parties celebrations did they have overgrazed before greece finally imploded and we've seen a number of these same celebrations here over in spain and denials they were denying today you know we've had so many to die on how many of your civil denials do you have to before the country really implodes and i think we're there i i think it's spain is on the verge of a huge breakdown here i think italy's going to follow and there's not enough money in the or the self to bail them all out so one of they're going to do we're at a crisis moment here i expect they're going to announce another summit probably this week and

, spain has long been known for two things-- paella and its large port. but lately spain's third largest city has garnered unwanted attention as the first spanish region to seek a bailout. six others are in danger of following suit. >> it's worrisome, in the sense if they start to line up for bailout money from the national government, which is itself very strained, financially, then there could be a bailout needed from the european partners sooner than expected, previously. >> reporter: and that's why spanish borrowing costs have shot up to record levels. the country's ten-year bonds are yielding 7.5%, raising the risk it won't be able to afford to borrow in public markets. if spain needs a bailout, there will surely be ripple effects around the globe. >> it affects the eurozone economy. and the eurozone is a very large trading partner of the united states. so, if you are a u.s. investor, the problems in europe are going to have an affect on your returns and we're seeing that in weak equity markets. >> reporter: the crisis in europe appears to be escalat

this is what deputy governor of the bank of spain is saying and this after the bank of spain reported that the spanish economy sla nk by 0.4% in the first quarter. the spanish economy has now contracted by 1% but the story is doubling down. >> more cuts. what more are they going to cut. >> if you correlate growth prospects i bet it would be higher than knigit has to do with deficit levels or debt to government gdp ratios. if anyone wants to run that for us and send us the results. >> still to come, german bunds has enjoyed a boost. our next guest says don't buy the safe haven myth. that's a big call in this environment. >> we'll be right back. >>> m around the globe. stocks fall across the country on concerns about spain, the spanish ten year bond hits a high. the economy has contracted even more in the second quarter. >> financials lead the decliners. >>> philips only green spot on the map after beating expectations after the second quarter. confirmed its target for next year. >>> feasibility is not very good. i caution about the general outlook. that affects philips. at the same

we expect spain to get more time because nobody wants to risk that the recession in spain gets worse. >> any news on who is going to be juncker's successor? >> it looks like the successor of jean-claude juncker is going to be jean-claude juncker, and that has to do the different personnel issue. but the position of one of the six members of the ecb's executive board and the eurogroup's finance ministers on monday said luxembourg's central bank chief will probably get a seat there, because this was the condition that jean-claude juncker said was important for him to agree was going to continue as the eurogroup chief because of the finance ministers said he can get the job, and now it is up to the 27 finance ministers. if they agree, it looks like jean-claude juncker will keep his job. >> thank you very much. >> well, let's look at market reaction. concerns about those higher yields on spanish bonds did weigh on investor sentiment this monday. but nothing too dramatic. here is the summary from the frankfurt stock exchange. >> investors seemed to see higher risks for spain and politician

regular protests in spain, but violence is rare. the unions say soon there will be more demonstrations. many people will be worse off after reforms, and there is growing discontent. what spain needs is growth in its economy. >> a brief time ago i spoke to tom in madrid for more on where the situation is heading next. >> the miners were protesting about subsidies being removed from their industry. but what we saw in madrid was something more. they have tapped to a wider public disquiet? >> you are right. the miners have come to symbolize more than the subsidies for the mining sector. the government says the mining sector in spain only employs 4,000 people, and they have gotten billions of euros over the years of they have come to symbolize more. they are a section of spain backed by unions, which have fed into what has been a sort of symbol over the last three weeks of a reaction against the government's reforms, the austerity measures, the reduction in spending and the increases in taxes which we are seeing today. >> with all those

the culture is a little different from the rest of spain. there have been calls for a referendum on the region's independence from spain. >> picking up on that point, if they have to get central government funding out of this, does it come with any extension of political controls? >> reporter: oh yes, definitely. if there is funding from that liquidity fund, it will come with very, very strict conditionality. if the region doesn't adhere to budget deficit targets in a couple months' time, the central government authority will be sending so-called men in black, official auditors, to this region and they will take control of the region and intervene. there was a huge public outcry in this region of catalonia if that were to happen. the president actually said, we're going to hold new elections if that were to happen and it's against the constitution. again, you know, i want to point out, again, this is the wealthiest region in all of spain. as kelly said, accounts for 20% of the gdp. look around you, i mean, tourism is booming. it's the indust

that spain have conceded so far in the tournament and. i see as the spangle keepers only faced twelve shots on target and six of them came from italy so i think italy certainly have an opportunity going forward they've been the surprise to me of this particular tournament but they've also been some disappointments as well i think germany was a bit of a shock going out one of the what other teams do you think were a disappointment often russia were a massive disappointment specially the way they started against czech republic winning four one impressive but the problem with the russians was only had a point which was to try in teams on the break when teams gavan's from base in the final for the field what happened against poland what happened against greece fail to realize this problem that we cannot cannot give russia too much space in the final third of the field and russia had no other options he just could not. break down very stubborn defenses when people put a lot of players behind the ball but i mean just going back to this match wh

united states and spain battling here. spain won the first set. the americans big in set number two. and the usa with a 4-1 lead on the first side change. so drama tonight on the olympic court. phil dalhausser continues to serve. and he's got it! the ace. >> this american team, when they play with urgency, is the best. that's three aces from phil dalhausser. >> 5-1, our score. and spain calls the quick time-out. we'll come back -- comebacks in this tournament have been plentiful. interesting note, 14 of the 19 three-set matches won by the team losing the first set, which is what todd rogers and phil dalhausser have done. >> look at the spray going on. one of the reasons why herrera's able to get back out and feel better, that's the cooling spray that actually works on inflammation. >> i've seen that used in the nba. the don't hurt no more spray. herrera and gavira trying to hang with the americans. you can see todd and phil much more animated now. >> and you can see what he wants phil to do is he wants to keep that right hand on the line. but pres

united states and spain battling here. spain won the first set. the americans big in set number two. and the usa with a 4-1 lead on the first side change. so drama tonight on the olympic court. phil dalhausser continues to serve. and he's got it! the ace. >> this american team, when they play with urgency, is the best. that's three aces from phil dalhausser. >> 5-1, our score. and spain calls the quick time-out. we'll come back -- comebacks in this tournament have been plentiful. interesting note, 14 of the 19 three-set matches won by the team losing the first set, which is what todd rogers and phil dalhausser have done. >> look at the spray going on. one of the reasons why herrera's able to get back out and feel better, that's the cooling spray that actually works on inflammation. >> i've seen that used in the nba. the don't hurt no more spray. herrera and gavira trying to hang with the americans. you can see todd and phil much more animated now. >> and you can see what he wants phil to do is he wants to keep that right hand on the line. but pres

your old showdown spain target and i'm president a third major side so in a robot face high line it's early in the decider of the european championships in kiev. wildomar immense and the mereology muscles of marcos baghdatis in the late night reversing move into the last sixteen and stay on course for his fourth straight wimbledon semifinal. and thrills and spills most of the g.p. champion casey stoner wins the dutch grand prix to go level on points with leaderboard lorenzo who crashed out early on. by let's start with football because later this sunday night the world and european champion spain will be looking to complete a unique hat trick of major titles as they take on its way in the final few rows once it's wall of our very own kate burridge and richard about port late followed both sides from the beginning of the tournaments in poland and ukraine and now offer their perspectives on tonight's continental decider. so after thirty matches over three weeks and across two countries it comes down to this spain the defending champions against nine hundred sixty eight when is italy her

can no longer borrow from the markets and where spain does need a bailout. it's there right now it's going to happen i believe the consensus opinion right now is that that is exactly what's going to happen bear in mind that germany flirted with excuse me greece. with. so to have major was they going to greece flirted with that seven and a half percent for a while they came in and the president of the e.c.b. john kardashian at the time how many victory parties celebrations did they have overgrazed before greece finally imploded and we've seen a number of these same celebrations here over in spain and denials that were denying today you know we've had so many die or how many of your civil denials do you have to have before the country really implodes and i think we're there i i think it's spain is on the verge of a huge breakdown here i think italy's going to follow and there's not enough money in the or the self to bail them all out so one of they're going to do we're at a crisis moment here i expect they're going to announce another summit probably this week

if a sovereign payout to spain, what might that look like? are individuals encouraged to buy bonds get wiped ut? will senior debt holders take a cut and what will the consequences be? >> yeah. i think those are all incredible questions. what it demonstrates is the complete uncertainty of the situation. if you're a bondholder and what you see is you see europe come in with a bailout, do you think you're going to be able to be parity or equal to them when you get paid out? i think the answer to that is probably not. i think the government's and the ecb look to get paid back first. so, again, it just doesn't instill any confidence in anybody to invest unless they're getting huge rates and we see these yields go up in spain every day. i think we need to have a plan that works. we've seen this again and again in the corporate world where it's tried and true. you put a restructuring plan together. you let all the constituents know what that plan says, and then you get things done. >> john, we wanted, of course, to remind people that the u.s. has so

spain is gearing up for more angry protests just days after nationwide marches descended into clashes that left dozens injured. trigger happy tourism a new attraction for visitors to israel sparks fears of promoting a negative perception of the country. live from our new center here in the russian capital this is r.t. with the twenty four hours a day fierce fighting between the syrian military and rebels continues to rage for the second day in syria's northern economic aleppo the violence shows no sign of declining a day after the u.n. security council unanimously voted to extend its observer mission to the country for a final thirty day period clashes are continuing to break out in damascus after rebel forces have been mostly driven out of the syrian capital by assad's army on friday reports suggest the last few days of fighting have been the bloodiest since the conflict began on a voyage to report the holy spirit of ramadan will in no way reconcile the enemy's . it's a call for prayer that at times sounds like a mother's wail and at others like a sinister cry in a horror movie plume

. >> spain is looking to set up their paper. we'll hear from one strategist that says the spanish curve has been too steep. >> london is the stage for major stock exchanges fighting for the major listings. we'll get the report from the battlefield. >> and we'll break down the earnings season with s&p capital iq at 11:30. what companies have big expectations in the second quarter and what do they think will be the trend. >> second quarter results from novartis have come in ahead of expectations. the group warns the strength of the u.s. dollar could rise by 4%. profit in second quarter dropped 7%. >>> akzonobel cited specific concern of risk of recession in europe and delayed u.s. housing recovery. joining us for the first half of today's program, director of strategy. i was reading our headlines this morning. would you have noticed there wasn't one macro story, all sort of micro corporate news. i can't remember when that happened the last time. >> a lot of it is quite positive which goes to show how far expectations got downgrade

in spain, the issue is unemployment. the german education minister and her spanish counterpart are hoping to find more spanish youth looking for internships in germany. >> we want to expand that to include internships. >> finding work means learning the language. is a challenge that since some young spaniards packing. but the good news is that there are german training schemes that can catch on at home. >> we will obviously not miss the opportunity of german companies offer a sees possibilities. especially if it comes to the branches in spain. we are very open to taking part in promoting these goals. >> german companies are sure to be grateful for the influx of skilled workers. but for spain, the exodus of young, motivated job-seekers could create problems for the country fell economy long term. >> right. now we turn our attention to the battle between the small farmers of europe and the big agricultural corporations. the european court of justice has ruled in favor of the farmers, allowing them to use their own varietie

fears that spain will need a bailout. meantime, spain's market regular hater announcing a three-month ban on short-telling of all stocks. you also have concerns that greece will not meet its bailout commitments. this as the troika hits the ground, greek prime minister saying greece is in a great depression, similar to the u.s. in the 1930s. flight to safety sending yields on the u.s. ten-year note to fresh record lows. wow. jim, we always thought we could come in on a monday and things could be reversed in europe, and here we are the opposite here. >> we had a couple of weeks where it looked like there was some sort of uniformity and then that merkel played the game again, the german chancellor. looked like there was going to be something that would be pro-growth. that gets taken away. greece back on the front burner. look it. there's nothing good whatsoever. i don't even want to try to come up with something good. it's just not in europe i can actually craft some positives about the united states, but to come up with any

>> anything -- i think spain -- you have to get spain down to 4% to be viable. you need germany at 2%. spain at 4%. that's a pretty big spread in a normal environment. if you get to something like that, that's where there's some perception that spain isn't about to collapse. anything above 6%, 7%, people are worried about the imminent collapse of the eurozone and spanish economy. >> when i was in spain recently covering this crisis for cnbc, things people were expressing to me in family lives is unemployment, youth unemployment over 50% at the moment and yesterday the oecd coming out and saying the focus on austerity was increasing inappropriate because it was hurting the long-term viability of economies, i.e., become people bad at doing jobs. at what stage is spain, do you think, when you consider just how many young people have never had jobs in this country? >> i think the steps taken today or the statements today will lead to something where you do get to the end game. spain has to save face to countries lending to it. we don't believe the eurozone is going

it shows the power of culture, which is also why i am here in spain. tomorrow night i will be speaking at a three-day conference called "culture takes center stage." the power of art and resistance. public picasso said the painting could never come home to spain until franco, the fascist leader, fell. now the paintings sits in madrid. the people want it to rest here and which is based. in the u.s., we know because the tapestry productions made by picasso hung in front of the u.n. security council in new york for decades. the i talked about this yesterday. but it was not lost on the higher-ups' at the u.n. when the u.s. was about to go to war in iraq, the irony of this anti-war symbol in the backdrop of the u.s. leaders making pro-war announcements, so they shrouded the guernica with a blue curtain but i think it is our job as citizens of the world to pull back the curtain and show the reality of war, poverty, inequality. it is certainly what is seen all over and my the people of guernica and people of spain care so much about reclaiming their history.

spain is gearing up for more angry as your sturdy protests just days after nationwide marches descended into clashes that left dozens injured we go live to madrid very shortly here on r.t. . plus trigger happy tourism a new attraction for visitors to israel sparks fears of promoting a negative perception of the country. live from our new center here in the russian capital this is r.t. with twenty four hours a day fierce fighting between the syrian military and rebels continues to rage on for the second day in syria's economic hub aleppo the van it shows no sign of declining a day after the u.n. observer mission to the country was extended for thirty days meanwhile the french foreign minister has called on the syrian opposition to form a provisional government and prepare to take over the reins of the country clashes are continuing to break out in damascus after rebel forces have been mostly driven out of the syrian capital by assad's army on friday reports suggest the last few days of fighting a been the bloodiest since the conflict began. a boycott reports that the holy spirit of ramad

the streets of spain. posed on the country in return for a rescue by the e.u. . it's a pleasure to have you with us here on our t.v. today i'm live for you in moscow now the u.n. observer mission to syria expires later on friday but the security council still split over a resolution to extend it another vote is expected shortly after russia and china yesterday vetoed a western backed draft which they considered unacceptable in new york is. standing by live for us now to join us here on the program good to see you marina so what's russia claiming is at stake if indeed the observer mission is not extended today. i didn't hear your question in its entirety but with respect to the observer mission there is another showdown taking place at the security council beginning in just a few minutes there are two draft resolutions on the table from what is being reported that the security council be considering has one that was submitted by the u.k. another one submitted by the u.k. that extends the u.n. supervision mission in syria for thirty days that's final thirty days an

let's start in spain. i know there are very important talks in organizing bailout for spanish banks. >> we haven't heard anything, basically saying how much spain is going to have to pay. probably about $30 billion. it was a hundred billion euros available, but probably 30 billion put forward which will be available in july for the banking sector in spain. now this should cure a lot of the problems in the spanish banking system. it should help recapitalize the banks over the coming year. as they start to draw down on this money and these guarantees. they're going to be audits put into the banking system, more stress test to find out which banks need them. and as i say, this should sort of sort it out. the european union has approved it. finland, germany they've approved it. all those things seem to have come together. but even as we speak, spanish yields are going up. why is this happening? why is it becoming more difficult for spain to borrow more money? well, there are a lot more problems. what we're wor

but let's start with football because later this sunday night's world and european champion spain will be a looking to complete a unique had trick of major titles as they take on its way in the final off year olds once it's well in kiev now our very own kate partridge and richard van portrayed followed both sides from the beginning of the tournaments in poland and ukraine and now offer their perspectives on tonight's continental decider. so after thirty matches over three weeks and across two countries it comes down to this spain the defending champions against nine hundred sixty eight when is italy here at the olympic stadium in kiev to contest the final of euro two thousand and twelve and i'm joined here by my colleague richard van port fleet to discuss that final dose of the highlights of the past three weeks richard thank you for joining me so obvious first question who do things go do in spain a definite assad's favorites have been very impressive for the tournament have been very impressive over the last five or six years for a very solid base of players from barcelona from real

checkmark is because the spain used to send e.u. were slightly higher in madrid is outperforming the rest of the markets in europe whole four percent already the ruble swung into again on the euro and greenback in the last hour the single currency is still losing to the dollar though china says imports all surprisingly weak sending asia down australian miners who supply beijing are also suffering with crude a dollar down off the top producers in norway called off three weeks dreich the russian marcus' have swung up after a weak stealth in the morning the country's parliament is meeting to sign off world trade organization membership list check major moves from its investors to raise funds for all to expansion revenues at discount retailer magnate rose a third in the first half and first quarter net energy for most of their go fell by the ongoing eurozone problems have created good buying opportunities though in the e.u. we spoke to russian railways both libby you couldn't. you know i in negotiations with representatives of greece to

now after helping spain retain their european crown midfielder andres iniesta has been named player of twenty twelve by you way for he and the rest of the team headed home from kiev on monday after thrashing italy for new and sunday's final in yes there is also among ten spanish. players named anyway this twenty three man squad of the tournament the spain team will receive a hero's welcome from fans their king am prime minister when they return to madrid spain in the first team ever to win three leading tolerance in a row now with more on their achievement from ukraine here's kate partridge. site finished by now and space successfully defend their title here a two thousand and twelve to complete a unique travel the first entity see success to defend the european crowd and also to do so while the current world champions daveed and made it to notice play by a hard time and they easily had to play the last thirty minutes with ten man thinks up to t.t. aka multiple people that means yet and then an anti-terrorist and one after i gave up the bench lights on to wrap up the four nil scoreline

well for the meantime or spain it may be the e.u.'s fourth largest economy but it tops the ranks when it comes to the number of unemployed now almost six million people are out of work desperate to find ways to survive some are turning to other countries in the hope of finding a better life but as aunties tester us earlier reports the might of or they might have to go a lot further than just simply the neighboring eurozone states. twenty four point six million people are without jobs across the european union seventeen point four million of them in the eurozone countries with unemployment at its highest levels of the single currency was introduced in spain unemployment hit twenty four point three percent the worst rate in the e.u. and among the spanish and greek youth it's more than half statistics may paint the big picture but they don't quite show the human story real people struggling through each day like this one gary a man who came to belgium three months ago that's leaving in a street and then i never did before so it's really