tv The Greek Financial Crisis P2 Al Jazeera April 11, 2018 9:00am-10:00am +03
they barricaded all seven streets that lead to here the middle east now it's been all about change people have gone here barrier the mission of the national army is to sixteen tie up the oil company x. and i'll just your stories about telling it from the people's perspective what they think is happening in their culture. he believed for nearly half a century. a controversial political figure in the cold to the middle east and one who was never far from crisis at home or abroad. in a two part series al-jazeera was tells the story of canvassing of jointing. episode one.
of them are all these the top stories on al-jazeera rival proposals from the u.s. and russia to investigate chemical weapons attacks in syria failed to pass in the un security council both sides called for a new inquiries but a u.s. plan to assign blame was rejected by moscow doesn't rescue workers say dozens of people died in a suspected chemical attack on the town of doom on saturday mike hanna reports from the united nations. yet another security council session on syria and yet another veto. the twelfth exercised by russia since the conflict began twelve members were in favor of a u.s. led proposal to set up an independent body that would investigate chemical attacks and identify perpetrators voters old reconstitute and similar clee this is a moment of truth the vote that we are faced with today so i would call upon each of the members of the security council speaking on behalf of france to take proper
stock of what is at stake here and to live up to their responsibilities and to the us vote in favor of the american draft resolution raised as a day was the council continue to splinter a russian proposal for an investigative mechanism fails to get the nine votes needed to pass the u.s. not even needing to veto and an explanation of how it differed in two ways from the u.s. led resolution the key point is our resolution guarantees that any investigations will truly be independent russia's resolution gives russia itself the chance to choose the investigators and then to assess the outcome there's nothing independent about that. the tone of discussion was no less a serb big than in previous sessions the russian ambassador repeating his assertion that the us and its allies were seeking a pretext to take unilateral action against the syrian government. if you
take the decision to carry out an illegal military adventure and we do hope that you will come to your senses well then you will have to bear responsibility for yourselves what you're trying to do is plant the resolutions that has been on the show for a long time in order to find a pretext in the course of the session all members expressed support for the fact finding mission of the organization for the prohibition of chemical weapons or p.c. w which will investigate this past weekend's alleged attack the key issue though while the o.p.c. w. is empowered to establish whether or not a chemical attack took place it has no mandate to identify the state or non-state actors that may have been responsible. for a second russian proposal failed to pass an apparently non-controversial resolution supporting the work of the o.p.c. w. failed to get the necessary votes those opposed to pointing out the chemical watchdog was already at work arguing such
a resolution was superfluous and at the end of this day so too it appears for the security council. my kind of his era united nations. facebook's chief executive has testified for nearly five hours in the u.s. congress says he's sorry about the privacy data breach at the social media giant it miss the way facebook connects with other us was not designed well of course i'm in ma has refused to drop a case against her voices journalist accused of attending secret government papers while loan and torso were arrested in december investigation the killing of ten men during a meant to crackdown on random muslims in the state. the gulf crisis and security issues have dominated the meeting between castles and. pani and the u.s. president at the white house says he's working extremely well with cattle. from flying there for the next ninety days as a response of us while opposing
a three month ban on key panamanian businesses. from operating within its borders. have accused the u.s. of sabotaging the peace process after a key negotiator from the group was arrested. was taken into custody by colombian authorities based on drug smuggling charges filed in a u.s. court as i had line stay with us for a gora from democracy to the markets. but
in a it's. in a sense into me. kinda and it just it. since i cannot live on that of these hateful goods and social conditions i deliberately decided to put an end to my biological cycle. if that's if you'd seen me in the groups that they didn't go to school in a truthful game you haven't seen the film or you but that's this idiot who puts up to the limit that we have here. are not
a good weeks have 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. interview not thought of again limited doubling i'm going to got to where all the money comes. the bends good to be could face. thanks he sings the things i think. i think there was a feeling early on that creek resistance to be crushed. very strongly to send a message to other countries. that no matter how hard can fight we're going to push this any way we must be still there are more. coming
everybody by this is so little critical of us more of too like to go to war. men to pay the mortgage an army begin a man as a back up as a man terrible that i'm aware. of the guy doesn't risk mcdonald's more and i mean. still goes well bizarro world view and i mean those is what you cannot guard nor know the or the one of the got us in as it'll begin with you. don't want to look it up if i'm all. for using. them to say.
and i spent almost nothing now they have to. it has gotten a muslim. country thomas edison stuff but you know we're just in the process. now i'm a fence. never to diminish stuff out of his little painting exhibition i know but he could have used them but if you know kids are going to be in the possible that honesty is not your scarf economic is most likely to copy. them to piece the unit to something women are. not able. to fix or beginning to do not gotten enough lip was in a bargain that we've just got on how to make a business have to have a machine percent increase this. must be the.
game is rubbish you must have people machine or. you start to stuff or do you start . you know. yes numbers are definitely order submitted in us. if the f.t. if you don't been catastrophic if you measure the. evangelos venizelos a key political figure at the time of the crisis he replaces george undiano 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 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
then a chicken or the same then i. have yet of not going to ferret everest bt stop your. second even the option wife went to valley here but that questioning back several on appeal still alice says it wasn't all that bad nana and i missed all the fun. yet as was not on those as they were that on the level that the lift help we. don't accept that we are must must be unhealthy. and then just e.c. did and it's me economy going to get shot going to for your bottom line yeah and the gum she beast and back at the metal asked him point blank what you call metal.
actually. yeah. but i mean you must. see this bit of a new dish you much. under threat of bankruptcy and expulsion from the euro creditors couldn't force anything even a new government. in the winter out 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 governments for governments coming that this is the rule of law all these things off functioning. bots the sense of energy and dynamism of a political system has shifted towards rather secret relationships between the very powerful business elite and the political elite who are increasingly this comic from the population. the pop of 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 loan to save it from default. the mission was completed in february twenty twelfth 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 was that at a threshold of ninety percent there's a rapid deterioration of growth all the sudden when debt crosses that now. ninety percent barrier growth collapses. using data
analyzing national debt levels around the world rogosin 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 a 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 david cameron prime minister of britain george osborne chancellor of the exchequer all cited this paper. the expert has said when you get clear of growth pharma. right now that i'm going to throw the book and according to
the ninety person rule or should i say the rule of thumb. for the. numbers that i never understood who is to call me often by law books i mean on the field to the. dogs elite. here in the dangers of. as i buy them to step. outside the stocks of spock's whom this isn't easy for susan next to strike up the someone from. your future economic prospects are diminished. his conclusion is so particular really want to at a time when jeff never said you will but are now approaching to find your passion to this hold. ha.
ha ha. ha ha. ha ha i agree sis established political order thinking is turning on her. i. i the too powerful pro-us steady 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 vote it will disappear mr enough to. cement base and make it into pushing negatives to this you know if it will be met that on the ball in the dictionary it would depend on me at that but it is up with a closer look i take my cubans and get them but i think you put a little because entreat you in the office is kept in the senate.
as. a committed. people of. the ocean was getting a lot of them on the cable. into iraq and i really except that this president quite clear but if the people say ok if there were if he was the. we don't go to. this is also the book recy. the he must see this. he must see this let me look at the last. time our out of my gun out of. yours your remark. oh. oh.
it was a shock. for the first time the neo nazi golden dawn party is elected to parliament with eighteen seats or thumb to give them a. i don't think i think i will be off the bottom of the stock market bottom but someone could muster if there's something you know about on spark some of. the more severe side of the pacific i'm going to go to the from the beginning it's clear what kind of attitude golden dawn he brings to politics we'll look at the c.n.n. . center but that was a real possibility if you. look at what. the golden dawn members carry out violent illegal acts without anyone stopping.
to. say whatever you want you to little. you know what i think they think this stuff is the guy that wrote this little book get it out on just. this week we have black i mean i have to fly fly i'm now one playoff grows. this them time grows want to do for my brother. the police you don't seem not to. police don't see nothing wife. i don't know the police do not arrest 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. the. the the i. was. some of the most even to the end just. the. other one is your yeah this 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 near liberal politics of this time. in the last if morality via. it will be available as well look late that's your soul of evolution out of action love are essential vision of the ring of the me i have to live it you little know. it will the sure. it will be should make sure they look at the road then look at your let you know yeah that's going to give them a jewish even if you look at the letter one of the jewish. this is exactly what you're 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. out of it was under what i'm proud of that i'm not going to be huge ok i'm going to come in a bunch of a little nothing to put into what i did in the early to get the most innocent american i want any of your togetherness along with the others and yet the less yet
a lot of them if you do the usual me then beat him up to get us the deal done then nobody. young or whatever if you have the numbers up with all of them we don't live in the middle of the me of the bible the body. of the 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 and yes the new c.e.o. be every sort of human for years given us policy to see as the god. article vivify not to use starve they had occasion system you starve the health care 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 becomes it circularly the 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. a story fourteen hundred years in the making. a story of succession and leadership. tells the story of foundation and the emergence of an empire. the caliph episode one on a jersey of. the latest news as it breaks this was a great election about it was going to win but it was about by how much with detailed coverage the syrian civil war no looted to its teeth what is the
difference is that each the some people will live until tomorrow or many innocent people will die from around the world the bats and balls are several years old the really good players that end up trading cricket academy and maybe one day play for the national team. have a simple nurses for every gang member who will find you in a climate of fear rhetoric is easily abused while the poor clients investigative new initiatives to come back gangs a simply being used to target the undocumented and found we started hearing kids report that source who had been picked up and his parents didn't even know kids were just literally being disappeared trumps war on gangs on al-jazeera.
and i am america and all these the top stories on al-jazeera rival proposals from the u.s. and russia to investigate chemical weapons attacks in syria have failed to pass the un security council both sides called for new inquiries but a u.s. plan to assign blame was rejected by moscow. you have already appointed the guilty party before the investigation you do not need the investigation you do not want to hear anything you do not want to hear that no traces of a chemical attack was found in duma you should be looking for a pretext all this time facebook's chief executive has testified for nearly five hours in the u.s. congress mark zuckerberg says he's sorry about the privacy data breach of the social media giant miss the way facebook connects with other apps was not designed well of course emanuel has refused to drop
a case against two reuters journalists accused of obtaining secret government papers while alone and tore through arrested in december was investigating the killing of ten men during a military crackdown on the hinge of muslims in iraq and states the gulf crisis and security issues have dominated a meeting between castles amir shakes home in benham adult army and the u.s. president at the white house donald trump says he's working extremely well with cattle french president. saudi arabia to end the war in yemen talks in paris with saudi crown prince mohammed bin salmond press concern at the humanitarian situation in yemen palomar has banned all venezuelan airlines from flying there for the next ninety days it's irresponsible as well of putting a three month ban on key panamanian businesses including airline corporate from operating within its borders. at least twenty people have died during an attempted prison break in northern brazil it began when gunmen attacked the prince
a wall of the northern city of the name i tried to help inmates escape was exchanging fire with police dogs and leaders of colombia's form of fog rebels have accused the us of sabotaging the peace process negotiated from the group was arrested. was taken by custom. based on drug smuggling charges filed in the us courts. all the headlines off the news about nasa gora. the a. the a. to a. few
with one hundred fifteen of his colleagues offer free medical care to the needy. now dose of course c.n.n. on. mia. day. though is he talked to us and offered michael. than three seems several domina messily here saw this. ecliptic yards of the vets you know nias me curia make a mess about the kids that are via milk junking the school here so get i think a fabulous thing here the very me early curia because it costs us economy up actually gays young men. appearing at the blacks only do so because they put their me up x.l.e. where barry city minutes of the c.s. . student who were yes it was you come in off the top i do something if you're
a stud to get a level of advantage at the other we can move the ball early some advantage and beat all of you want to pull it almost from the glass steagall of us. all good old fashioned shoulder that upper lip glosses on top of monopoly and i can remember literally that would be a good issue but i guess that. a lot of us pray that the one part of the class appreciates that does have good luck a lot of us left little of the business mother got me political.
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 stand your stuff is a successful businessman who's proud of his mission people know the band you know the people to a he. took emotional ship they do shia daily me quote well if there's an incident of the dog. put after a federal law because you're a priest in character you know you haven't been about only the problem abutment but i gotta love. necromancer love it better not to kill him at this you may have to want to meet him and that i feel belittled i've done a sketch with you going after she went on at this or polluters but i think the mess up one knoppix gets provided that understand the bravado of the madonna felt on
that ship in the she's. gotta go can afford it dr paul you might be acceptable you might get it but he an exceptionally it is really a point by doc separately or even the metaphysic or god he let me get the political for the ship he's dean of the party it appears one way or the mic you're the four you've heated she the boss and then the bully pick it up for. i mean nasty on the books and i did it was that little method did the. piece of paper deal of an act the will give it i think up badly.
at home a chicago voters i get that it's at the nats or pos nobody from a spot. but they are the boy with a for a girl. then a sort of forty oh my sat. down on me and the other on me enough that ask me out on. a kirghiz s.t.d. over got it bad for you. for getting my mentee will also border like these separatists see this. i love as a best below forty i do gather all the. done all but people method to say i am
mission to the leadership. brigades will be lucky. to have a good. piece will that be possible to get on board some of the guys on the border a little bit to go but what's the. general. out there. that i don't like out there. closer. than you were the one eight figure that about years ago the fear of the books at the border. the sculpture of.
the police were allowed to take place in front of them arrested the alleged killer . and some of his friends. in the world. on the same evening at the demonstration in quetta at sini 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.
miserable she would have to finish it. after the. far and they'll in. my hear listen to them an impish will give you their good because of the good folly nothing. the cervix will be a bargain when your maze will just give you all of your folly. got in the bible she was a bit fuzzy did i get a lot of the loot that i've been given a push. up about the feeling you. should mention or if you. look i mean there's a history to commute you can do we do know. from michigan but. if you move it will. i thought. i
was. having to do good but i did not have to chatting to her i was better than i was. ten days after the murder of problems face us. m.p.'s and members of golden dawn are arrested and charged with setting up a criminal organization. that. was. god i'm sure about it i've never heard of the community of i forgot that everyone 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. . was. after his release frames the government's cabinet secretary and prime minister's right hand. and exposes him a bit and their conversation which records with a hidden camera and releases on the internet raises legitimate questions concerning the relationship between golden dawn and the government. official earlier. that it.
al a special ops class ha ha ha ha ha ha ha i am sure i was asked when i asked. yes which was which. was. after years of sacrifice which impoverished this week destroyed the social state widened inequality and nurtured fascism the debt continues to grow. was. sixteen i was these are the effects of a drug administered to the patient to cure him of his exorbitant deficits the rogosin reinhart study a declared the reason i know the percent debt to g.d.p. limit which when exceeded kills growth provided the u.
political and financial elite with the scientific justification needed to impose a steady policies on the whole continent. of africa. 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 fencers right here and wrote off in
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 in me honestly i was tired and i didn't really believe my eyes obviously the spreadsheet error came as enormous shock through a simple mis manipulation of excel. 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 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 is g.d.p. growth not just in public debt for a non threshold. greece is only one part of a larger continent wide austerities a 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 debt and you don't eventually offer serious debt relief the recession drags on forever this is knowledge that we've had for
a long long time. a little as poisonous and more as 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 among those. who installed the system understands know that this is the wrong direction this is late of the lot of sacrifices made by the citizens in reason enough. to leave the 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 moo than what eat earth
they seized a mistake this is not acceptable this should not be repeated you have to prevent such a situation when you are in that situation the price to be paid these enormous enormous you don't feed each of course when you are in the bubble only it's a nice bubble your very a big you are spending sixteen percent more but after you have to pay. what i. expect at least manage washed. 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 two the crisis of two thousand eight. hundred letters would not find its national compact i ask when they try to make demands on a country like portugal to rewrite its employment law a very powerful intervention in the social contract. that you are already.
you're not offering meaning. and. this is been the perennial irony is that europe and north america are prescribing to the developing world policies that we ourselves have not implement and now what's happened really is that the the the shock doctrine tactics have come home they've come here they've they've come back. to where they originated. 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 has got anything left to sell . who's got anything left to cut. its welfare state some of you know and germany's next do they think they're in you know they're going after germany after they finish with southern europe they're going to go back to france to
hello it's still raining in tajikistan and northern afghanistan that frontal system is long leash d.t.s. fadia way they can see there's more cloud behind me and that's a spinning system slowly dying in the eastern side of the mediterranean producing rain for southern turkey northern syria south of that the sun's back out again only nineteen in jerusalem you'll notice thirty three is a contrast in baghdad and the still cloud hidden through the eastern side of saudi kuwait and bahrain that's produced a few thunderstorms recently i think it's on the way are now but it's still there as a form of cloud and the showers now showing themselves in the eastern side of iraq for my to when the red dickie further south it's been bringing the dust in from the northwest all the southeast depending on where you are it's rather raving but it peninsulas sound of the dust has been in the air and it's still a fairly cloudy picture when you knew that already well two shells are showing themselves i mean and again the western side of sadie west and yemen and the transit was a bit suspicious in nature when it's there in showers are possible mostly dry
picture site and it's going that way in southern africa should be really what we have seen is a big showers recently and i think that on wednesday on the eastern side of south africa through crosses on the top but it's a dry looking picture on thursday. the scene for us where they're on line which is a very new sign in yemen that peace is always possible but it never happens not because the situation is complicated but because no one cares or if you join us on set there are people that are choosing between buying medication and eating this is a dialogue i.