his neighbors have collected around 15,000 euros to pay his bail. that's a lot of money in an area like this. his son is 32. many people carried his picture at the demonstrations that took place on june 12. this is our city, cries victor. for the first time, music teacher natalia is taking part in a demonstration. today there, are only a couple of thousand people on the streets, a fraction of the number who took part in the protest last may which ended with so many behind bars. the uniforms are the same though. briefly, it looks like there might be a confrontation. the security forces have set up lines too deep. the one in back is drawn up in front of the kremlin. but today, everything remains peaceful. their sons were arrested here over a year ago. the event has changed their lives. >> but this makes me feel that people are with us, supporting us. nikolay would be happy. >> natalia's son is one of the first to enter the glass cage at the beginning of the trial. he soon followed by victor's son. two young men who could soon disappear for years behin

though she only makes 700 euros a month, sometimes she treats herself to a taxi ride home. the university student is relaxed about the end of the summer season. >> if i can find work here, i will stay. if not, i will return and get my masters degree in occupational psychology. i'm not worried about ending up on the street. even if i do not see good opportunities in my field of work. i will find something. >> in the meantime, neil has started his shift in the piccadilly bar. the 28-year-old nepali came despite the economic crisis, and he wants to stay. for him, working at the beach is simply too lucrative to leave. >> the division of society into those with privileges, the inability, and ordinary citizens goes back more than 2000 years in europe. the system was applied by the ancient greeks and romans. it was really only after the first world war that many european countries got rid of the privileges for the nobility. in austria, for example, titles have since been banned, and it is still strictly forbidden to use them today, but in other countries in europe, the aristocrats

they're plowing 2.8 million euros into it. without that money, the project wouldn't be profitable for eletrosul. it would be too expensive, compared to other energy sources. >> it's about triggering projects and markets. the 2.8 million is a comparatively small sum when you consider the kind of market that could develop here, and the climate-friendly effect, from which german industry can ultimately also profit if it can sell its products competitively here. >> until just recently, these photovoltaic panels would have cost twice as much. the drop in prices in the sector makes solar power competitive even against hydro power. at least once a week eletrosul manager franklin fabricio lago flies out to his building sites. the power company is building several small plants. brazil gets about 80% of its electricity from hydro power. that makes the country the frontrunner in renewable energy. but in periods of drought, like the one ten years ago, that source of energy isn't reliable. >> we need to diversify brazil's power portfolio.

competition and the winner who comes up with the best proposal will be awarded one hundred thousand euros want to talk about the challenge i'm joined by dr richard wellings from the institute for economic affairs dr weddings why launched the competition now it's four years until the referendum and even so britons might vote to stay in the european union at that point that's true but i mean it is such an important issue that is important that economists start thinking about the consequences of britain potentially leaving the given that there is such a large amount of your skepticism of most british public it is quite plausible that in a few years time britain will be leaving so i mean is absolutely essential that we have some idea of where britain is going to go with the winning strategy be put forward to the government to use in case of a euro exit yes i mean where we're going to publish the winning strategy along with some of the other better entries as well said to be plenty of ideas there for the government's low cards and hopefully come out with a very very sound plan now the prize is

euro dollar now at 1.297 to 2975. and checking on euro yen at the bottom of the screen is at 130.65 to 72. the yen and euro appear to be capped ahead of the upcoming european central bank meeting thursday. and now let's see how the stronger dollar is affecting the opening levels for here in japan for wednesday, july 3rd. the nikkei is higher by 0.40% at 14,159 points. nth.r closing above 14,000 and the top ix is higher by 0.09%. investors may continue to buy shares of major exporters today, especially automakers, as u.s. vehicle sales increased more than 9% in june. sales for toyota, honda and nissan increased year on year, so we may see some support for the share prices of these companies today. and we'll continue to keep track of more developments as we go through the trading day here in japan. back to you, ai. >> thanks, elien. eileen lee at the tokyo stock exchange. >>> the bank of japans massive monetary easing has significantly raised the volume of money on the market. but loans to businesses and individuals hav

the hospital reduced its heating costs by 80,000 euros last year a loan. people here are proud to be energy independent, like this employee at the power plant. >> this is the energy that we buy. the rest we get from our wind turbines and solar panels. >> people in the streets also pride themselves on their green city. this woman received 400 euros to help her upgrade her bike with an electric motor. >> it only works if you do something locally. you cannot wait for the government to do it for you. you have to do it yourself. >> it pays to be a step ahead. the mayor is convinced that green energy is the way forward. now other cities are looking to them for inspiration for their own energy plans. >> well, still ahead, we will be taking a closer look at greece's reform efforts. >> first, here's a look at some other stories making the headlines. the united nations says about 2500 people are trapped inside the town of homes in syria where government forces are intensifying their offensive -- the town of homs in serious. >> at least seven people were killed in af

but there are those that say that leaving the euro zone will be detrimental to the economy no matter how you do it obviously i mean there were major upside potentially because the u.k. can then get rid of all this very burdensome e.u. regulation on jobs and climate change and so on all the red tape is suffocating business but obviously the key to this is whether we retain very strong free trade links with the rest of europe that's absolutely essential that we have great free trade links with europe and the rest of the world will be the key to success in the future dr welling's thank you very. as for telling us about the competition now the prize is going to be judged by a panel that includes four much. who recently claimed that the british economy would be better off if britain were outside the european union. london well prime minister cameron's motives for proposing a referendum closely tied to political success have certainly drawn questions from the onset on our website you can log on and tell us what you think had led the tories to call for the votes let's check out how the numb

struggles to curate feeling economy with the bailout cash we try to find out whether the billions of euros have been of any help. thanks so much for tuning in this hour i'm lucy casanova of course you're watching our team well on to our top story now nearly two years after moammar gadhafi was overthrown and killed in libya his son so you follow islam is yet to stand trial for alleged war crimes committed during the twenty eleven uprising now he is set for a hearing in libya in august but international criminal court judges fear that he won't receive a fair trial there libya is meanwhile defying an i.c.c. ruling by refusing to hand him over to the hague and sustaining on a trial at home well let's examine the man and his story so you follow islam was educated in london he was seen as a crucial figure in building relations between libya and the west but an early twentieth revolt the uprising kicks off eventually when he made. reports now amid allegations that he and his family committed crimes against humanity the i.c.c. issued arrest warrants just a few months later moammar gadhafi was kill

competition and the winner who comes up with the best proposal will be awarded one hundred thousand euros well to talk about the challenge i'm joined by dr richard wellings from the institute for economic affairs dr weddings why launch the competition now it's four years until the referendum and even so britain's might vote to stay in the european union at that point that's true but i mean it is such an important issue that is important that economists start thinking about the consequences of britain potentially leaving the given that there is such a large amount of your skepticism most british public it is quite plausible that in a few years time britain will be leaving so i mean is absolutely essential that we have some idea of where britain is going to go with the winning strategy be put forward to the government to use in case of a euro exit yes i mean where we're going to publish the winning strategy along with some of the other better entries as well said to be plenty of ideas there for the government's low cards and hopefully come out with a very very sound plan now the prize is ai

euro zone sovereign debt reached an all time high in the first quarter of this year this is despite major government spending outback's now today the i.m.f. said that the first further central bank interest rate cuts might be necessary so what needs to be done to spark growth in europe earlier i spoke with jani but if i guess a professor of university of athens and author of the global minute or now i first asked him about the most recent version of his article a modest proposal for resolving the eurozone crisis here's what he said. it isn't like you know. this state of disintegration that it finds itself in is because we have four cracks of them that i indignantly connect one another where the banking practices as a result of the fact that we have a common guarantee but a completely separate banking systems imagine living in the united states in two thousand and eight with the state of nevada had to salvage their banks about them and the banks and that along with it and that would have caused a domino effect destroying the whole of the dollars of the united states of america so we have t

experts have put the value of the torch paintings at more than 100 million euros. but the loss of unique artworks such as these far exceeds their monetary value. >> terrible story. onto sports now. and portugal -- portuguese writer has claimed his second victory in the tour de france. >> written's writer keeps the overall leader's jersey, over five minute ahead of spain with only two stages left ago. >> the icy waters of hudson bay in canada, two artists have been connecting with nature in an extraordinary way. their creative partners are none other than the waves. >> they have decided to put on a series of concerts specifically for their underwater friends. >> imagine rolling out to sea and being welcomed either lugo whales -- beluga whales. you sing with joy, and the whales respond. you sing together. humans and marine animals connected, united by music. these performance artists have fulfilled the stream. >> amplified through the sound system. these beluga whales are so beautiful. >> in canada's hudson bay, they have made contact with them. >> a are very gregari

and euro sterling, euro/aussie. >> i think people are still cautious on the financial sector and the direct underperformance in the overall index. i think china would still be in reform because we are bullish. some people are very cautious about the financial sector in china, so that's why we would see china to continue to underperfe underperform. >> right. so that's the thought of some members with the s&p up a fresh record highs, let's get a look ahead at president. christine is still with us. ben, good to see you. what do you think? do we have retail sales today, mr. bernanke during the week, and a whole host of earnings, how does it look to you? >> reporter: well, certainly a lot on the plate, if you will, for traders right now and a lot of information coming out this week. as was the case last week for the most part and really what i'm seeing is a subdued kind of limited reaction, limited in terms of precipitation at least across as far as stocks go and some of the stock indices future products. very low energy type trade. again, you touched on the fact, albeit it very much conv

and i asked her as well what is that 6 billion euro thing, roughly 1,000 euro per capita youngster unemployed so literally nothing but she explained we have to count as well the 60 billion euros of unused funds sitting with the eu, so-called social funds and the eib, the european investment bank will make more loans to small and medium-sized enterprises in those countries who essentially face the credit crunch. so take a listen what they have -- what she has to say on the sheer numbers, where they're upping the budget for that. >> it is not only the number that is -- but where do you want to invest this money. it has to be efficient. and for the first time we have labor ministers and the finance ministers and the heads of public employment services at one table because the investment in mobility in europe, the investment in dual vocational train, skills for the future generation, next generation, and, of course, to fight the credit crunch in southern european countries. these are the three pillars we want to invest in. >> how do you want to export the model to southern europe. a lot of compan

though she only makes 700 euros a month, sometimes she treats herself to a taxi ride home. the university student is relaxed about the end of the summer season. >> if i can find work here, i will stay. if not, i will return and get my masters degree in occupational psychology. i'm not worried about ending up on the street. even if i do not see good opportunities in my field of work. i will find something. >> in the meantime, neil has started his shift in the piccadilly bar. the 28-year-old nepali came despite the economic crisis, and he wants to stay. for him, working at the beach is simply too lucrative to leave. >> the division of society into those with privileges, the inability, and ordinary citizens goes back more than 2000 years in europe. the system was applied by the ancient greeks and romans. it was really only after the first world war that many european countries got rid of the privileges for the nobility. in austria, for example, titles have since been banned, and it is still strictly forbidden to use them today, but in other countries in europe, the aristocrats

euro/dollar just on this side. see where we stand at the moment. 1.239 that's where we stand in european trade. let's go to singapore for the update on asia. sichuan? >> thank you, ross. asian markets sharply lower this monday hurt by u.s. tapering fears and beijing's plan to rebalance its economy. the chinese government basically said it will no longer extend credit to sectors that struggle with overcapacity. the news put pressure on chinese banks. bank of china and icbc's hong kong listed shares both down about 2%. a few other troubled stocks to tell you about. china's rongsheng heavy industries plunged today on chatter beijing will not step in to keep the company afloat as the shipbuilding business has overcapacity issues and the stock has already lost about 33% over the past three sessions on concerns over its profit warning. workers laid off and also the cash crunch situation. in japan mobile carrier softbank also lost ground after standard poors downgraded the stock to junk inciting the expensive deal to buy

finance minister is scheduled to visit to visit greece on thursday to discuss a one hundred million euro loan. and egyptian thousands of supporters of the ousted president mohamed morsi have taken to the streets of cairo demonstrators denounce the newly formed cabinet saying it's legitimate as it emerged in the wake of a military coup the new government has entirely excluded members of morsi as muslim brotherhood movement the rally follows a visit of the european union's top foreign policy official who urged both sides to cooperate and a political process in northern islands unionists are planning yet another operate in belfast despite a recent series of street riots the orange order has applied for permission to hold a march this weekend but as artists are a first explains their decision comes when the nationals community is most sensitive. well the full no u.s. government peace envoy to northern ireland richard haas bank installment yesterday party move in ireland tools now first minister peter robinson has said that all party group has been set up with the purpose of seeking an altern

but there are those that say that leaving the euro zone will be detrimental to the economy no matter how you do it was difficult so obviously i mean there were major upside potentially because the u.k. can then get rid of all this very burdensome e.u. regulation on jobs and climate change and so on all the red tape is suffocating business but obviously key to this is whether we retain very strong free trade links with the rest of europe that's absolutely essential they have great free trade links with europe and the rest of the world will be the key to the u.k. success in the future dr welling's thank you. very much for telling us about the competition now the prize is going to be judged by a panel that includes former chancellor nigel lawson who recently claimed that the british economy would be better off if britain were outside the european union. london and while britain and the rest of the e.u. feel the grip of a staring timing some well connected individuals are making more money than ever are these financial guru max keiser says a new financial apartheid is appearing and you c

his neighbors have collected around 15,000 euros to pay his bail. that's a lot of money in an area like this. his son is 32. many people carried his picture at the demonstrations that took place on june 12. this is our city, cries victor. for the first time, music teacher natalia is taking part in a demonstration. today there, are only a couple of thousand people on the streets, a fraction of the number who took part in the protest last may which ended with so many behind bars. the uniforms are the same though. briefly, it looks like there might be a confrontation. the security forces have set up lines too deep. the one in back is drawn up in front of the kremlin. but today, everything remains peaceful. their sons were arrested here over a year ago. the event has changed their lives. >> but this makes me feel that people are with us, supporting us. nikolay would be happy. >> natalia's son is one of the first to enter the glass cage at the beginning of the trial. he soon followed by victor's son. two young men who could soon disappear for years behin

i would have had to pay the equivalent of several hundred euros. to get out of it, i had to pay them a bribe. >> we do not have the same moral values as these people. for example, this governor who is linked to a mafia organization. >> but they and other protesters to have some support in high places, even from the president. >> bulgaria's democracy is more a democratic faÇade, and less what we all wish for, which is a real european democracy. i believe that both gary and civil society is leading the way, reaching out to politicians and giving them a chance to change and to create a real democracy. >> it is evening again, and they are protesting once more, this time in front of the german embassy. it is an sos call to western europe. these people hope that there will be support for change and for democracy. >>) a change of pace now. let's get to some sports. it is that time of year. the second division of the german bundesliga is getting underway. >> second-tier clubs might not have the glamour or money, but they still draw plenty of fans. >> this

sales of his label balooned from 300,000 euro to 5 millino euro. the idea came to him in a flash and he knew what to do when inspiration struck. >> i was buzzing with ideas and they started running up and down through the house. before i knew it, it was 4 a.m. and i had 50 designs. >> opting for floral patterns in a throwback to 50s style pinup looks in her latest collection. >> let's return to our breaking news story from egypt where president mohamed morsi has been ousted in a military coup. >> the egyptian army has delivered a statement to the nation announcing they had removed morsi from power and suspended egypt's islamist backed constitution. the constitutional court will act as president until new elections are held. the national unity government will lead the country in the interim. >> this all follows the ultimatum that passed for mohamed morsi to meet the demand the protesters or face military intervention. military chiefs have been holding crisis talks with the opposition and religious leaders, including members of the coptic church and

and the contagion effect this has had on the euro. the euro is not prepared for that. we have seen the contagion in two countries like spain, italy. you need to think about ways to protect yourself about this job, which is completely different from the credit shock those countries had in the past year or so. new challenges for the ecb today and it is all going to be about signaling they are completely ready to protect themselves from -- >> more than die lock this time. last time investors were incredibly disappointed that nothing transpired. >> compared to the may meeting there was a big disappointment. may was about promises and june was about underdelivering relative to the promises. it is an important meeting. i think the market lost a bit of patience around the talk. it wants the walking to walk, basically to strategy here. i think here on balance, this is setting us for a slight disappointment again. >> we'll wait for the press conference later today. thank you for that. jacques, chief european economist. >>> still to come, the mpc meets today for the first time.

we struggle security ailing economy would be allowed cash we try to find out whether the billions of euros have been of any help. around one hundred prisoners who escaped during a prison riot have been recaptured in libya as the son of the ousted leader moammar gadhafi still awaits trial with tripoli refusing to hand him over to the international criminal court. and private companies in the u.k. are accused of hiring a robot that tech tips to steal their clients' private data adding to the blanket surveillance concerns unleashed by recent snooping leaks. thanks for tuning in this hour one pm here in the russian capital i'm lucy catherine ellis and you're watching r.t. well on to our top story now after having forced through further austerity measures greece is set to receive its next bailout installment now it took the government a lot of effort to please its creditors greece's parliament had approved the cards after european partners threatened to pull out at the last minute now the bailout comes at the expense of thousands of private sector jobs a rescue loan of about four billion euros

i would have had to pay the equivalent of several hundred euros. to get out of it, i had to pay them a bribe. >> we do not have the same moral values as these people. for example, this governor who is linked to a mafia organization. >> but they and other protesters to have some support in high places, even from the president. >> bulgaria's democracy is more a democratic faÇade, and less what we all wish for, which is a real european democracy. i believe that both gary and civil society is leading the way, reaching out to politicians and giving them a chance to change and to create a real democracy. >> it is evening again, and they are protesting once more, this time in front of the german embassy. it is an sos call to western europe. these people hope that there will be support for change and for democracy. >>) a change of pace now. let's get to some sports. it is that time of year. the second division of the german bundesliga is getting underway. >> second-tier clubs might not have the glamour or money, but they still draw plenty of fans. >> this

euro/dollar below the 132 level. pretty much flat on the day. and sterling/dollar at 153.61. >>> turkey's central bank holds its policy meeting today, widely expected the bank will raise interest rates in order to stabilize the lira, which fell to a record low recently against the dollar and bring inflation down. in rare written statement ahead of the meeting, the governor signaled the central bank is willing to raise rates. let's continue the discussion about the turkish lira and what the central bank will be doing today with the head of the cemea economics at morgan stanley. he joins us now. thank you for taking the time to speak to us. so there seems to be a pretty broad consensus that we are going to be seeing a rise in rates, but by how much? what is your base line? >> the market is divided in terms of expectations, 50 and 100 basis points. looks like the majority expects 50 base points hike in the upper end of the quarter. we think they might actually go for 100 base points. we are in the minority, but i think two things to note here, firs

so the 100 million of the euro that mr. schaeuble brings along will have to wait some time until they get into the real economy, because this is the one that suffers in greece. there is no access for sme in greece to banking capital, so this is urgently needed money, but 100 million is much too low as a spur of the greek economy. >> a lot of tensions on the streets as schaeuble arrives and a lot of the protests have been forced away from the area. does this just fuel resentment towards the germans? >> well, it has happened already during chancellor merkel's visit to athens that all the protesters have been expelled from the city center and away from the airport to the city center. it is bad, i say this as a european parliamentian, bad for the european spirit that having somebody who is a friendly nation who should be somebody who helps you in such a bad atmosphere, but this is the way we are. this is the status we are in europe at the moment. the greeks try to do their best in order to show the best picture and mr. schaeubl

in new york the dow jones up more than 1% and the euro is being traded at a bit more than $1.30. >> thank you very much. lithuania has taken over the presidency of the european union. >> the first time a former member of the soviet union has run the affair. a new era is beginning for croatia as people wake up for the first times as citizens of the e.u. but it was temper bide fears about the debt crisis and its own economic problems. >> customs control are a thing of the past now. the two former states are partners again. this time inside the european union. there were cheers as crowds fwathered for the countdown at midnight. 10 years after croatia applied for a e.u. membership they are now part of the club. a new opportunity to achieve cultural and democratic progress. i am raising this class for the europe of the future. a europe of peace and prosperity. but sfite the celebrations and the smiles for many in croatia it has diminished the aura of the new club and they have no shortage of problems. unemployment is at 20% and half of young people are without a job. the civil service needs mo

debt to the euro zone belongs to a single family and like the united states where you have a common currency and you have a common dept in the federal governments that in you have those no that whatsoever which is which sounds like you know from and what at least the point of huge sums by each of her debts but when you have a situation where you've got different states that belong to the eurozone and they don't have a federal. government or for that matter but if it goes up a central bank to back the map at some point when they can't for some reason and of course that isn't what's the major crisis when it comes to finance their debt there could have been it isn't the only thing that can do it just go bankrupt default but that would set off a chain reaction of defaults that would bring down of think so we need to calm them down for the models because it suggests a very simple way of the central bank of europe the e.c.b. to. do act as a go between member states and financial markets. getting loans on the behalf of most of us they got us there and having them service them. so hopefully

ld you like to come euro, you seethe these mechanisms. we have seen to the forgotten about problems. in termsn description of evaluation continues to produce a negative growth especially among the young. it seems to me that the theuation underlies economic problems is manifested. to political problems. >> you talked about competitiveness. ask for -- [inaudible] to finish your replies, that would be very helpful. he has just been mentioning competitiveness. confusion bit of between increasing competitiveness within europe as a whole and individual countries. some countries are not doing as well as others. they can become less competitive. particular, the youth unemployment and especially what we are seeing in spain. we are sick more within the crisis. -- seeing more within the crisis. it is spreading. mentioned they disaster. would be the repercussions of that? [inaudible] it?hat degree is >> they are very much related. it is clearly having a more resilient financial system within the eurozone. possibly the uncertainty in the interest rate

sales of his label balooned from 300,000 euro to 5 millino euro. the idea came to him in a flash and he knew what to do when inspiration struck. >> i was buzzing with ideas and they started running up and down through the house. before i knew it, it was 4 a.m. and i had 50 designs. >> opting for floral patterns in a throwback to 50s style pinup looks in her latest collection. >> let's return to our breaking news story from egypt where president mohamed morsi has been ousted in a military coup. >> the egyptian army has delivered a statement to the nation announcing they had removed morsi from power and suspended egypt's islamist backed constitution. the constitutional court will act as president until new elections are held. the national unity government will lead the country in the interim. >> this all follows the ultimatum that passed for mohamed morsi to meet the demand the protesters or face military intervention. military chiefs have been holding crisis talks with the opposition and religious leaders, including members of the coptic church and

it's not pigs it's it's financial attack it's a private attack this is the reality of this called euro crisis italians headed to the polling stations desperate for a leader who could bring back stability and prosperity the nation once enjoyed but the results seemed to show unity only in the resoundingly no to this territory measures put in place by mario monti begging the question just what kind of future is in store for the euro zone. in rome even r.t. . we'll get to the outside world update shortly here on the program for now though is limited tighten the screw in war torn syria a muslim women in the nation's biggest city could now get in trouble for the way they dress with the prospect of sharia law rears its head details at this hour. of space travel you can watch the spectacular footage of a russian rocket crashing to earth literally seconds off the launch and find out what might have caused the accident those details this. is not a surprise to me that we've got problems and during a time of budget cuts we spend one hundred fifty billion dollars each year to imprison one hundred s

euro dollar now at 1.297 to 2975. and checking on euro yen at the bottom of the screen is at 130.65 to 72. the yen and euro appear to be capped ahead of the upcoming european central bank meeting thursday. and now let's see how the stronger dollar is affecting the opening levels for here in japan for wednesday, july 3rd. the nikkei is higher by 0.40% at 14,159 points. after closing above 14,000 points for the first time in nearly a month. and the top ix is higher by 0.09%. investors may continue to buy shares of major exporters today, especially automakers, as u.s. vehicle sales increased more than 9% in june. sales for toyota, honda and nissan increased year on year, so we may see some support for the share prices of these companies today. and we'll continue to keep track of more developments as we go through the trading day here in japan. back to you, ai. >> thanks, elien. eileen lee at the tokyo stock exchange. >>> the bank of japans massive monetary easing has significantly raised the volume of money on the market

will come from the euro zone and european central banks now the i.m.f. is also expected to stump up a further one point eight billion now in order to get these loans will have to fire four thousand civil servants by the end of the year while twenty five thousand more must be redeployed now greece has been relying on public rescue funds for over three years now but as financial expert patrick young explains it's done little to cure the country's financial woes. well unfortunately i've always argued that greece was never going to survive as long as it was in mode because the difficulty is that you know through involved at alcoholics just tends to make them more alcoholic and it doesn't affect them and improve their overall condition really what greece has always needed to do was to leave the euro and declare bankruptcy it's the only way that it can feasibly restructure what's going on instead what we have is this absolutely mainly arkell situation where in order to manage to stay in the euro we have a series of political forces in western europe who are de

greece struggles to cure a failing economy with a bailout we try to find out what are the billions of euros have been of any help. around the hundred prisoners who escaped during a prison riot have been weak captured in libya this as the son of the ousted leader moammar gadhafi still awaits trial but tripoli refusing to hand them over to the international criminal court. and private companies in the u.k. are accused of hiring rogue detectives to steal their clients' private data adding to the blanket surveillance concerns unleashed by recent snooping leaks. thanks for joining in this hour it's noon here in the russian capital i'm lucy catherine and of course you're watching our t.v. well onto our top story now after having forced through further austerity measures greece is set to receive its next bailout re installment now it took the government a lot of effort to please its creditors greece's parliament had accrued approved the cuts after european partners had threatened to pull out at the very last minute now the bailout comes at the expense of thousands of public sector jobs a rescue lo

is going to go next with the winning strategy be put forward to the government to use in case of a euro exit yes i mean where we're going to publish the winning strategy along with some of the other better entries as well said to be plenty of ideas there for the government to look at and hopefully come out with a very very sound plan now the prize is aimed at looking at the least disruptive way to leave the euro but there are those that say that leaving the euro zone will be detrimental to the case economy no matter how you do it was difficult so obviously i mean there were major upside potentially because the u.k. can then get rid of all this very burdensome e.u. regulation on jobs and climate change and so on all the red tape is suffocating business but obviously key to this is whether we retain very strong free trade links with the rest of europe that's absolutely essential they have great free trade links with europe and the rest of the world will be the key to the u.k. success in the future dr welling. thank you very much for telling us about the competition now the prize is going

do you think the euro itself is a threat to the euro recovery? >> it's grinding higher almost since february now. this is a problem. over time that's going to be a dent into growth and it's going to put the eurozone further into the deflash naer territory. there is a problem. are they going to do something about it tomorrow? that's a little too early. they need more time to convince the whole council to do something more aggressive. >> thank you for coming by. the debate about who will replace bernanke continues to heat up. david rosen berg out with a growing endorsement of janet yellen and karen finerman out with what she thinks it should be. that would be? >> larry summers. i think it would be a better choice. full disclosure. i know larry. he's a friend of ours. personally i like him but that's not the issue. i think he's had more real world experience around the world, not just in the u.s. in 1994 we had the mexican peso crises. he was right there for that, undersecretary at the time. he was there in 2008 was a central -- >> i share your posi

effects of austerity thousands of greeks are getting hooked on a cheap and deadly drug with billions of euros in bailout cash still not enough to cure the country's alien economy. unless he kept it up and thanks for tuning in to our team well we begin with our top story nearly two years after moammar gadhafi was overthrown and killed in libya his son saif all islam is yet to stand trial for alleged war crimes committed during the twenty eleven uprising now he is set for a hearing in libya in august but international criminal court judges fear that he won't receive. meanwhile defying an i.c.c. ruling by refusing to hand him over to the hague insisting on a trial back home let's take a look at the man as well as his story. in twenty two thousand and eight was in london seen as a crucial figure in building relations between libya and the west but in early two thousand and eleven revolt the authorising kicks off with the rebels eventually winning nato support now amid allegations that he and his family committed crimes against humanity the i.c.c. issues arrest warrants and just a few months later

the dollar gained ground against the euro. the euro dollar is not at 1.32559-3260. it will start to taper the monetary stimulus. we will get direction from the consumer confidence data due later today. the european central bank will hold the meeting on thursday and investors will be watching them. euro yen. a lot of focus on central banks and economic data and earnings reports. we will be keeping track of all that. >> thanks for that update from the tokyo stock exchange. the people at bmw have launched their first fully electric vehicle. they are hoping to rev up a market that has been slow to take off. the german car maker unveiled the i-3 hatch back at events in new york, beijing and london. motorists will be able to drive about 130 to 160 kilometers on a single charge. they will be be able to reach speeds of up to 150 kilometers per hour. japanese suppliers produce the carbon fiber body. it's nearly 300 kilograms lighter than bmw's hatch backs. managers will release the car in europe in november than other markets early next year. the ceo predicted to that sales

with two trillion euro that's the amount of italy's national debt threatening to force entire cities to declare bankruptcy tax hikes pay cuts sporadic corruption scandals and youth unemployment at over thirty percent these are the top of the list of reasons italians say they have lost faith in country's politicians and that is largely why february's elections were described as a victory for better agree loz five-star party a movement which positions itself against everything italian politicians have done or said in the last two decades and you for in italy. god for instance this will influence him to leave the european politics that means the equilibrium. political life is very important not only for italy but for or you italy is european union's third strongest economy thus any small storm in the country may pretend a tempest for europe putting the future of the euro at stake some analysts say the e.u. states may share common currency and enjoy open borders their attitude towards one another is infused with discord for the moment it has been yes. well we could do a much much more yo

as greece struggles to cure its ailing economy with cash we try to find out whether the billions of euros have been any how. deadly clashes between an armed group and the military come just hours after a bomb attacks in the libyan city of benghazi this is the son of ousted leader muammar gadhafi awaits trial with tripoli refusing to hand him over to the international criminal court. and private companies in the u.k. are accused of hiring rogue detectives to steal their clients' private data adding to the blanket surveillance concerns unleashed by recent snooping leaks. through the am in the russian capital. and welcome to the program. now after having forced through furtherest area measures greece is set to receive its next bailout installment it took the government a lot of effort to please its creditors greece's parliament approved the cuts after european partners threatened to pull out at the last minute the bailout comes add the expense of thousands of public sector jobs a rescue loan of four billion euros will come from the eurozone and the european central banks the i.m.f. is also e

competition and the winner who comes up with the best proposal will be awarded one hundred thousand euros want to talk about the challenge i'm joined by dr richard wellings from the institute for economic affairs dr weddings why i don't want to the competition now it's four years until the referendum and even so britain's might vote to stay in the european union at that point that's true but i mean it is such an important issue that is important that economists start thinking about the consequences of britain potentially leaving the given that there's such a large amount of your skepticism of most british public it is quite plausible that in a few years time britain will be leaving so i mean is absolutely essential that we have some idea of where britain is going to go with the winning strategy be put forward to the government to use in case of a euro exit yes i mean where we're going to publish the winning strategy along with some of the other better entries as well said to be plenty of ideas there for the government and hopefully come out with a very very sound plan now the prize is aim

but there are those that say that leaving the euro zone will be detrimental to the case economy no matter how you do it obviously i mean there were major upside potentially because the u.k. can then get rid of all this very burdensome e.u. regulation on jobs and climate change and so on all the red tape is suffocating business but obviously key to this is whether we retain very strong free trade links with the rest of europe that's absolutely essential they have great free trade links with europe and the rest of the world will be the key to the u.k. success in the future dr welling's thank you very much for telling us about the competition now the prize is going to be judged by a panel that includes former chancellor nigel lawson who recently claimed that the british economy would be better off if britain were outside the european union. london and while. britain and the rest of the e.u. feel the grip of the stereotyping some well connected individuals are making more money than ever are the financial guru mexicans are says a new financial apartheid is appearing and you can watch the full

euro zone sovereign debt reached an all time high in the first quarter of this year this is despite major government spending outback's now today the i.m.f. said that the further central bank interest rate cuts might be necessary so what needs to be done to spark growth in europe earlier i spoke with jani but of vikas a professor of university of athens and author of the global minatory now i first asked him about the most recent version of his article a modest proposal for resolving the eurozone crisis is what he said. it's like you know these of these state of advanced disintegration that it finds itself in is because we have four cracks that i'm intimately connected to one another where the banking crisis as a result of the fact that we have a common that it's a. completely separate banking systems imagine living in the united states in two thousand and eight is the state of nevada that sound which their banks about going and and the banks on and that along with it and that would have caused a dominant factor destroying the whole of the dollars of the united states of america so we hav

will come from the euro zone and the european central bank the i.m.f. is also expected to hand out a further one point eight billion to get the money athens has to fire four thousand civil servants by the end of the year while twenty five thousand more must be redeployed rescue funds have been crucial for keeping greece afloat for over three years now but as financial expert patrick young points out it's not curing the country's flawed economy. well unfortunately i've always argued that greece was never going to survive as long as it was in daylight mode because the difficulty is that you know through involved at alcoholics just tends to make them more alcoholic and it doesn't affect them and improve their overall condition really what greece has always needed to do was to leave the euro and declare bankruptcy it's the only way that it can feasibly restructure what's going on instead what we have is this absolutely maybe akhil situation where in order to manage to stay in the euro we have a series of political forces in western europe who are desperate

will come from the euro zone and the european central bank the i.m.f. is also expected to hand out a further one point eight billion well to get the money athens has to fire four thousand civil servants by the end of the year while twenty five thousand more must be redeployed rescue funds have been crucial for keeping greece afloat for over three years now but as financial expert patrick young points out it's not curing the country's flawed economy. well unfortunately i've always argued that greece was never going to survive as long as it was in belarus mode because the difficulty is that you know through involved at alcoholics just tends to make them more alcoholic and it doesn't affect them and improve their overall condition really what greece has always needed to do was to leave the euro and declare bankruptcy it's the only way that it can feasibly restructure what's going on instead what we have is this absolutely mainly awkward situation where in order to manage to stay in the euro we have a series of political forces in western europe who are des