tv The Greek Financial Crisis P2 Al Jazeera November 17, 2017 11:00pm-12:00am +03
venezuela in defocus the oil rich country fails to pay its debt well look at what a messy financial an unraveling could mean for starving people our lebanon's economy is getting squeezed plus why zimbabweans are buying fit coins counting the cost at this time on i just. we are living through a technological revolution but all the machines taking over if a piece of machinery goes wrong is there a chain of litigation through which we can bring a legal system to bear oxford university professor of machine learning steven roberts talks to all disease this time. i'm citizen long on the top stories on al-jazeera zimbabwe's president robert mugabe troll and confined him to private residence in harare the people who helped
him stay in power for nearly forty years the war veterans have called for an anti mugabe rally on saturday because of this sordid it would be an equal an acknowledgment in the plunder you. in the madness sheer madness this wave what we're going to prove that will be the problem. is that when people are up to. we don't want to be responsible for the road but what you assume is recently a message we want to try. and organise the money movement the war veterans are important in the country's power structure this is an obvious leader and his wife grace have gone to the firing of former vice president m s m n n gaga and his supporters and get them there making it clear grace and affection called the g forty in the rulings on appeal if or never be in power the first lady. wasn't at
the graduation ceremony will be kept thousands of graduates if the plan is to carefully manage president it's a. transition of power in the process may not be quick has led zimbabwe since one thousand nine hundred eighty people are still stunned the army stepped in. right now just to make sure that. we could live in. you know. the president mugabe. step down dignified way we still don't much. way that we should not be so lucky. because our. southern african leaders plan to hold an emergency summit on zimbabwe for now one thing is clear the ninety three year old mugabe is losing friends the war veterans who put him in power are now the ones who want to go on al-jazeera. at least five people are reported dead in kenya after police clashed with supporters of
opposition leader raul are adding go offices use tear gas and water cannon to break up large crowds cheering a single convoy on the airport's essential nairobi he returned from a ten day trip to the united states they say now using live ammunition they say the victims were stoned by enraged crowds after being caught looting on monday the supreme court will rule on challenges to present. controversial election victory last month amnesty international says both the philippines government are guilty of war crimes and the five month battle for the city of merari more than a thousand people have been killed in the fighting and five hundred thousand forced from their homes. another large group of a henge refugees has tried to cross into bangladesh to escape the military crackdown and mammal hundreds are stuck in what's known as no man's land between the two countries more than six hundred thousand revenger have crossed the border
since august in syria a car bomb has killed twenty civilians and injured thirty more in dera zoar province the attack targeted people at a camp for internally displaced in the province's northern countryside it's reported eisel is behind the bombing and at least eighteen people have been killed in airstrikes and shelling in eastern guta it's the third consecutive day of attacks on the area which is part of a deescalation zone deal agreed on by turkey russia and iran the red cross is warning that one million yemenis are at risk of a renewed cholera outbreak because of saudi arabia's blockade of the country the group says the cities of data and tires have run out of clean water because of a lack of fuel those are the top stories that stay with us on al-jazeera next up is from democracy to the markets don't go away.
be any need to feed this. live when you have your bed you got to days of that you get for the phoenix do you feel the senioritis of the golden boy. so scary not coming is another that happens. when he's fifty. then enough to cop shop of the meds and then heartless from the. family telling. you you know which gets us. into something that i couldn't is for me to be having to speak to me.
since i cannot live under these hateful apartments and social conditions i deliberately decided to put an end to my biological cycle. and that. if it does if it seemingly it was that they didn't get it when it suits the king live we've seen the full moon with you but that's the philip who pushed up into the slimmest that with his. i know the good weeks help to stop committing suicide and take to the streets and get rid of you i know my suicide will not help anyone but i cannot live with this shame i hope my blood becomes a river that we drown you. live shot of. interview not thought of again i limited going to got playing with all my guns. the bangs good to be good for. thanks.
thanks when. i think there was a feeling early on that creep resistance the it had to be crushed. very strongly to send a message to other countries. that no matter how hard you fight we're going to push this anyway but myself i've got to keep still but i'm more. on. the machine. and i suck as much as my friends. can. see me and.
it was up to pay the muslim woman and i love going to his. then. everybody by this is so little to go the us more often like to go to war and i don't. get an army begin a man as a back up as a man are without a man a comic about eyes of the guy doesn't risk mcdonald's more and i mean meanness. still goes well bizarro world view and i mean does it want to get
a gun or no there will be one of the got us in a zoo to begin with you. don't want to look it up if i'm not. going to say. and i spent almost nothing and i mean after because you see when i asked them. it has gotten a muslim fanatic thomas edison stuff but you know which is kind of about us. and i'm offended.
never diminished got out of his little bit in the sex abuse or nobody can have you then but if you're not a kid is going to be in the bottle but when you think they're going to snuff us. thank you. want to get to many of my friends in the basically you know the supplemental trouble when our. kids now you are beginning to. get. the business after. christie's. really. came into view she must have the machine. you start to. look at. your numbers that definitely order. if you have to. get the next. evangelos venizelos i keep political figure at the time of the crisis
he replaces george. at the finance ministry and also becomes deputy prime minister in order to shore up revenue he introduces a new tax every property receiving electricity whether a house or a barn empty or under construction will be taxed the tax is included in the electricity bill if you do not pay the power is cut off it amounts to extortion. they're. going to. stop you. even the dobson wire whenever i hear. yeah. yeah billable
but the list still. must be unhealthy. and then just he she did and it's me economy going to be the show going to for your bottom line yeah and the come she beast and back at the metal. yeah. but i mean you. see this issue much. under threat of bankruptcy and expulsion from the euro creditors couldn't force
anything even a new government. in the winter of twenty eleven prime minister george papandreou all was forced to resign and antone some of us leader of the opposition was persuaded to change his stance from being against the memorandum to supporting . the new coalition government had a technocrat as prime minister a man of the markets former vice president of the european central bank look us up of the. political debate this election's government for governments coming up there's the rule of law all these things are functioning. but the sense of energy and dynamism of our political system has shifted towards rather
secret relationships between the very powerful business elite and the political elite who are increasingly disconnected from the population the puppet. the most government had a specific mandate its mission was to pass the austerity measures are the second memorandum deemed necessary by the e.u. after the first one failed miserably if parliament passed to the measures greece would receive an additional hundred thirty billion euro along to save it from default. the. group. the mission was completed in feb twenty twelve with athens once again in flames amid furious demonstrations. early national elections were called the first since the crisis.
europe's political elite initially supported the austerity policies imposed not only in greece but throughout europe. they argued it was the only way out of the two thousand and eight crisis and they had the science to prove it. a scientific argument which seemed irresistible. at the beginning of twenty ten amid the global economic crisis harvard economists carmen reinhart and ken rogoff published a short paper with a bleak message. they argued there was
a specific debt limit and almost magical number which when surpassed kills economic growth. his number being ninety percent of a country's g.d.p. . so they're finding with that added threshold of ninety percent there's a rapid deterioration of growth all the sudden when debt crosses that ninety percent barrier growth collapses. using data analyzing national debt levels around. the world. reinhart's paper was a bombshell it was scientific proof for american and european conservatives who believed that addressing country's deficits was more important than fighting recession. there was an audience ready to hear a message that austerity was the solution ready to hear the public debt was the
number one problem instead of the terrible global recession that we were facing in those years. this paper may have had a stronger impact on public debate than any previous study in the history of economic science. financial markets that are allowed to operate without oversight are not to blame for the financial crisis countries deficits were. the study's conclusions became the bible for supporters of a sturdy in the united states and in europe. it became the roadmap for future economic policy. i think there was an austerity not sturdy lobby that wanted to go after public that wanted to ignore the terrible global recession that we are facing and the reinhart and rogoff paper gave fuel and
intellectual justification for that. and it was very rapidly taken up it was widely cited in europe olli rehn of the european commission i david cameron prime minister of britain george osborne chancellor of the exchequer all cited this paper. the expert has said when you get growth yeah i'm right out of them going to go look at a point to the ninety person who will or should i say the rule of thumb a mormon. for. the most part i never been understood why it's taken only often by luck for cook something on the field to the. darkly taboo. here in the dangers of. does a bite into the skin for cigarettes god knows how to get the stocks up facts from the affinity for susan next to strike up the someone feed them for.
your future economic prospects are diminished. this conclusion is so particular i really want to at a time when jeff never said europe but are now approaching the plan to present to this whole to. greece's established political order thinking it's time now for. the the too powerful pro-war staring to parties crumble. this historical shift boosts syriza and left wing party led by alexis c.p.s.
which becomes the main opposition with twenty seven percent of the bout you can read the supermarket at that and in after the people i met with this the making of the question they're going to lose the business you know to be reckoned i met up on the ball i'm against addiction be a lot of people know me at that but it was never the cause of getting a good guy to make events and you're going to get you put into the biggest entry became one of the neighborhoods he's kept in the venue kissing whiskey. as fishman to promote the film. will reveal shrewish own fault that people over. the ocean is getting a lot of them a look at. a show you view entirely your right. and i really accept that this president quite clear but even then the dutch people say ok if there were if he was the. remember of the b. don't we don't go to. this is also democracy. he must
gross want to go for my book. the. police. wife. i don't want. the police to know the rest anyone the state does not react in a phobic rhetoric takes root. even in mainstream politics and tony some of us in his new democracy party use it to attract far right voters and win the election. was. some of
them are seventy and it just. seems to. me. i don't is your yahoos was health minister in the conservative led some of us government a bookseller who through his t.v. show had those patriotic nationalistic and sometimes far right history books he is typical of the country's neo liberal politics of this time. you know the laws are if morality. they would be available as well look mate that's your sort of view the reflection of others that is always you know going on the range i believe if you look at low level of the cure. they will be should make sure they look at the role then look at your. oh yeah give them with. even if you look at one of the drawers. this is exactly what your yeah this
implemented in the public health sector a purely conservative neoliberal model that is followed in greece like a religious doctrine as the only way to exit the crisis. is under what i'm going to be ok are you going to come immigrant. i didn't really get the most innocent american i want any of your togetherness for them and. yet these. to. the not. all of them we don't live in a little me of the bible the really. unfortunately the weak were expelled from the public health system which shrunk dramatically. clinics hospitals and primary care centers merged or closed down leaving three million people without medical care. all of this to save money
yes the new c o b every few months or years given us policy. to. starve the education system you starve the healthcare system you starve the water system and then you say oh geez it doesn't work you know we really need to bring in a private investor so it becomes it's circular and. the cuts to the public sphere become the rationale for privatization you also just destroy the public sphere to such an extent that nobody wants to defend it anymore. the new era in television news. it doesn't say that it's a task to do things in secret that we had actual victims who had survived torture detention and saying this was the cause of my arrest if you could. just stay there
but we do have stood by this conviction that everyone has a deep reservoir of time ability if you give them the opportunity and wonderful thing stopped to look at the actual distance there's at least twenty thousand for him to refugees when they feel we badly need at this moment leadership and the president to testify that this was i guess donald trump is going to be the next president retaliation we're back out again go back to the family canisters of gas i just want to believe it best to prevent the bit you're getting anyway let's get recorded. by. the achieve something that never happened before. sun blessed beaches breathtaking scenery but there's another reason that draws people to cyprus it's not always easy for mixed faith couples to marry in the middle east and that's why the mediterranean island has become an ideal destination for couples and love to have
a civil marriage al-jazeera world looks at what happens when romance cuts across religious lines cyprus island if it didn't love at this time on al-jazeera. and in london the top stories on al-jazeera zimbabwe's president robert mugabe has made his first public appearance since he was put under house arrest by the military on wednesday the ninety three year old attended the university graduation service in the capital harare the pressure on him is mounting isn't zanu p.f. party is now calling for him to resign the country's influential war veterans association has called for an anti mcgarvie rally on saturday. we have declared
this war within that is the message there is no way that you must live because of this who did it would. be plunder you. in the murder. of his wife would become a problem it. is a problem people are up to. at least five people are reported dead in kenya after police clashed with supporters of opposition leader raul or a dingo offices use tear gas and water cannon to break up large crowds cheering the diggers convoy from the airport to central nairobi it return from ten days aboard deny using live ammunition they say the victims were stoned by enraged crowds after being caught looting. iraqi forces have retaken the last town in the country to be held by ice so government troops moved into roa in western iraq on friday morning they raised the iraqi flag over the district government's headquarters iraq's prime
minister said the operation was carried out in record time and troops will now start looking for myself fighters in the surrounding areas. amnesty international says both eisel and the philippines government are guilty of war crimes in the five month battle for the city of morale way more than a thousand people have been killed in the fighting. the red cross is warning that one million yemenis are at risk of a renewed cholera outbreak because of saudi arabia's blockade of the country the group says the cities of her data. and thais have run out of clean water because of a lack of fuel the country has already say nine hundred thousand cholera cases in the past six months those are the headlines but stay with us on al-jazeera for the rest of. from democracy to the market.
yahoo's because founded the community clinic at the early call when one of his young heart patients almost died because he could not afford to buy medicine and since then he along with one hundred fifteen of his colleagues offer free medical care to the needy. now those of course c.n.n. on. is it toward the end of our michael. and three seems domina misses a leader sorious. you know news media curio make a mess about the kids that are here nope you. have to get i think i hope you're still
here are very nearly kuria because america's economy. is here many. people actually do so because they put. me up to excel and you see we're barely getting any it's of the c.s. i'll year old student who hears. the thought i do something if you're just not getting the numbers i looked at the army i'm in the battle of only some damage and all of you want to pull. almost from the tourist it is callable fashion mogul fashion the show the couple of close range and sort of an apology and michael never let a reasonably i guess a few other guests on top of the bunch. of the bones but for the last promotion yes but as i go along i was never let go from the business mother got me going to school.
these pictures depict the country's most precious heirlooms they had gone the corridors of h.r. i.d.f. the agency in charge of greece's privatization program its president. is a successful businessman who's proud of his mission people. you know the people that. took him oh sure ship they usually don't leave me cause well if
there's an angel of the dog or. what i have a federal. bridge to get you know you know the problem abutment but i've got a lot of. levels but i'm not a glimmer at this you may have thought i meet a man that i feel belittled i don't as country that you get off that went on at this. but i think the most up one up that gets provided that understand the bravado and the donna felt on that ship and the she's. got caught can't afford the trip or you might be acceptable you might get it but he accepted it and he really. doxepin lima metaphysic or god he let me get the blood to give them for it to be huge you know have to buy it. or to make it before i have here to see the bush and the bully pulpit of.
i mean nasa can only go so neither of those that will make it to the other words he said they feel a bit of an after you were. given i think up by early. start on. that homicide got the voters i get that it's not the nats or pos nobody from. the. federal but they are the boy with a four door. then a sort of forty oh my sat. down on me and the other on me enough that ask me out i. take it easy s.t.d. or got it for you. for getting my mentee will also border like these
that's what they are that's what i got vs the love they got the other one. follows more but nothing gets on the go the way of us i deal with. but there's gallagher's with the guy with the others but the. it has almost become a daughter of the forget the. bombers have been actually making. astonished at the finish. option a fuel efficient living. will you call the lucky both of those whose bike i like a novel he said that he was going to get over some of the guys on the boat that the little difficulty love what was the cause of their behind the body all about. something got to the mother the mother lived out the law much that i'm down you're going to buy just given that i got i got there with obama's performance that i
don't like either. get ahead of the other. big. closer. than a massive blow job or the but it's taken about years ago to feel that the books at the border. are for just all of the word possible discovery of. the police who allow the murder to take place in front of them arrested the alleged killer i guess and some a thesis friends. yes let me get. this first that the first people started making a lot. on the same evening at the demonstration and get out see me a camera records of group of men throwing rocks at the demonstrators from the side
of the police the police do nothing to stop them. after the. far and they'll and. the more you listen to them an impish will be the good in those considered to follow. the cervix will be a bargain when your mates will just give you all of your filing. got another couple to she was a bit fuzzy did i get a lot of just
a little but i begin to appreciate. the love about both you and your mil. should mention if you. look i mean as opposed to shoot. me if you give me a month or two we do know you hear more. from michigan but. you know that. i . haven't if you've already done all that that ended up thinking that it was better than. ten days after the murder of public. employees and members of golden dawn are arrested and charged with setting up a criminal organization yeah yeah. yeah yeah.
yeah. yeah. yeah yeah yeah you gotta. have any of that you got that going on your father money on. the evidence emerging from the case file is damning it reveals how effective justice can be when there is a will but also raises questions as to why it wasn't administered earlier. the investigating magistrate and prosecutor temporarily freed golden dawn m.p. . after his release frames the government's cabinet secretary and prime minister's
us. thanks to. these are the effects of a drug administered to the patient to cure him of his exorbitant deficits the rogue often reinhart study a declared the reason i know the percent debt to g.d.p. limit which when exceeded kills growth provided to the you political and financial elite with the scientific justification it needed to impose austerity policies on the whole continent. you. were. impressed by its widespread acceptance thomas hadn't been a ph d. candidate in economics at the university of massachusetts prepares a thesis based on the rogue often reinhart paper. throughout the semester i was trying to kind of rebuild their analysis basically from scratch and just based on
the publicly available records and the part of the data that they had posted on the web site i was unable to at the beginning you know everyone including myself thought that i was just making an error somewhere after the semester was over and we were pretty certain that i had made a mistake we you know i started i reached out to fencers right heart and rogue often through e-mail and you know just politely asking them for their data so i could take a look at it. and i know it was kind enough to send headed in the research data on a spreadsheet. that proved to be a problem. five countries didn't you know they didn't make it into the calculations and that was really the first thing i noticed and honestly i was tired and i didn't
really believe my eyes obviously the spreadsheet error came is enormous shock through a simple mis manipulation of excel reinhart and rogoff omitted five countries to begin with the letters a b. c. and d. from their analysis the top of the alphabet you don't once we had their data too we started running you know a battery of a whole host of different statistical tests on it and we were just unable to find any threshold after which growth collapsed there is no threshold at ninety percent there is no obvious danger zone for countries and that in the middle of a global recession is not the right time to start engaging in austerity because the real thing to worry about at that moment used g.d.p. growth not just in public debt for a non threshold. greece is only one part of a larger continent wide austerity program that has been stupidly and
mistakenly imposed on europe but it has been and what you know is that when you impose tight restraints on that and you don't eventually offer serious debt we'll leave the recession drags on forever this is knowledge that we've had for a long long time. with those poisonous and more is deadly it's quite straightforward that if you implement hard austerity in the middle of an economic crisis as much likely to make the crisis worse we had a very serious crisis in two thousand and eight and we have made it much much worse through the policies of austerity and more and more people even amongst those. who installed the system of the stands know that this is the wrong direction this is
laid off the lot of sacrifices made by those citizens in reserve in other countries but better too late than never no i would say again concentrate on the mistake made before the crisis the state was functioning so poorly that that to a certain moment the society was spending sixteen percent more than what each herb this is a mistake this is not acceptable this should not be repeated here have to prevent such a situation when you are in that situation the price to be paid is enormous enormous you don't feel each of course when you are in the bubble it's a nice bubble you're very a big you are spending sixteen percent more but after you have to pay. except nationalist and of. european elites seeking
a realignment of the terms of the social contract in europe they really has very little to do with either public debt or even the crisis of today traces of two thousand eight. hundred of the magic i'm asking and the troika makes demands on a country like portugal to rewrite its employment law to a very powerful intervention in the social contract. you're asking me and then you know. this is been the perennial irony is that europe and north america are prescribing to the developing world policies that we ourselves have not implemented and now what's happened really is that. the the shock doctrine tactics have come home they've come they've come back to where they originally. the project is
a liberation movement for capital it's it's getting rid of everything that is standing in the way of making maximum profits so who's got anything left to sell. who's got anything left to cut. its welfare states and europe and germany's next do they think their new now they're going after germany after they finish with southern europe we're going to go after france too nobody is immune from. so.
picture now for saturday the green is the potential for showers and you see exactly where they are tempted to as high as they were but to the west where the sun is out in the breeze to come dime from the north up to twenty four and i think that will rise to near zero thirty the time we get to sunday the shells off aafia by that time they haven't gone something queens in new south wales most at risk then purses a steady twenty one or cooler on shore breeze nothing much to make it across the tasman sea at the moment is just as circulating at the cycling but there is an area of tropical air that's brought heavy rain steadily south so in oakland and certainly the north and north all in all south of the it looks particularly wet but i don't think much more convict the time we get to sunday we're looking at fine weather and all this time south around justin's or enjoy the sunshine never go directly north here it's still a different picture the picture of rain has returned to japan in fact to be on its sights it looks particularly wet at low cost to come afterwards.
on counting the cost of venezuela and to folks as the oil rich country fails to pay if that will look at what a messy financial unraveling could mean for starving people lebanon's economy is getting squeezed plus why zimbabweans ob gyn bitcoin counting the cost at this time on i just. al-jazeera. where ever you are. and i see us as i am a victim of manipulation between politicians held in guantanamo the number of al qaeda and taliban detainees transferred to u.s. forces in afghanistan has continued to grow for years without trial do you know that your own government for six years has been telling every country in the world