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tv   [untitled]    May 20, 2012 8:30am-9:00am EDT

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in the headlines now a thousand strong protest welcomes nato leaders in chicago but police give it a heavy handed response. on activists. the world's leading economies of. greece to sit tight in the eurozone but analysts believe that painting a very different picture behind the scenes. at the u.s. opens its weapons arsenals to. a popular uprising in the state.
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it is trying times for the eurozone as we all know next week talk to. the economics writer for the guardian newspaper about what greece and the entire region can do to try and get back on track. today i'm talking to a detour chakraborty who is an economics leader writer for the guardian newspaper we're talking as politicians increasingly start to discuss an exit for greece from the euro zone as you see chakraborty thinks that orderly all disorderly that exit will see disorder on the streets of greece at easter thank you very much for talking to us today and we've recently seen these elections in greece which appear to have shown that the greek people reject austerity how long do you think that rebellion is going to go on for i think it's already been going on for the better part of two years ever since the european union and the i.m.f. impose a really severe program of spending cards and form of welfare on greece you've
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basically seen a country which is descend very quickly into the realms of young governable what you saw simply in the last elections was about getting on for a simple simple lettre voted against austerity parties for a party that was against austerity now whether that means that they're against spending cuts that means they're against reforming labor laws would that mean there are going to change in the welfare system were they simply going to privatizing whole swathes of national asset it i don't know but what you do see very clearly from greece these elections and i think you've seen for the best part of the year is a kind of wholesale rejection of the program that's been imposed upon greece and we've seen germany's finance minister will crank schauble make it very clear that either greece sticks to this austerity all it quits the euro what's in greece's interest would you say what's best for them i think we could start with the most obvious thing is to stop this austerity what happens next well that's a that's
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a more vexed question if you want to talk about whether it's a good idea for greece stay within europe or i think the way it's commute very painful decision for greece if it stays within the euro or it will be forced to stick to some. kind of program imposed on it from outside for a long time to come and it won't have a great safety valve that's normally given to countries mistress or been able to devalue its own currency that's a problem with staying in the euro problems and living on the other hand of the kind of volatility and turbulence which may well look may or may well make the general strikes to rights all the rest of it look like walk in the park compared to what happens next so that's from greece's point of view but what about the point of view of the rest of the. german chancellor angela merkel and new french president francois hollande says both say that they want greece to stay in the year is a is greece essential for keeping the euro zone together really. it's not but the big question that will come up as soon as any country walks out
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a door is which i was going to follow after it so greece is a very small economy greece is also it's pretty clear and exceptional case within the euro zone economy because it's had the biggest crisis of the lot it's had the biggest bust of the lot it's got of course you know it's got a whole series of. specific to greece but if it goes there was a stop portugal from going to and talking about sort of house of cards and this is been this is been the big question ever since it became clear that southern europe was in trouble it was never about one country particular and it was particular not about greece assoon as the questions arise about greece then actually the big questions get raised what about spain what about italy these are the really big economies even some in europe and within the euro zone and so when i go merkel said if the euro collapses europe itself will collapse do you think that sort of prophecy almost coming true. it's very funny statement for the german chance to
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make because the euro the euro is the union the seventeen countries the european union is a union of twenty seven countries and growing and so for her to ally one with the other is a very curious thing to do it may be rhetorical over straight but it may also be that she sees the euro zone without that what happens in the european union probably she's got is that she says the euro equals europe but she also says austerity because europe so what you've got. very clearly not just in greece but across the euro zone now you've got electorates and governments collapsing because they cannot impose austerity on their on their voters so even in neverland. the government collapses because economy. belgium hasn't had a government for the best part of the year. if the if the european equal just thirty and if the year if european unique was the euro and if the year equal then vote is then what is thirty so what does that mean about the rest of the rest of the european union i think you've got to come up with
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a better story for europe is for than simply it's about the euro what about potential exit for greece politicians are now really for the first time talking about an actual situation where greece might accept and they're talking about an orderly or a disorderly exit what do those terms mean and what real difference do you think it would make the really really odd thing when people who are orderly or disorderly is all you are disorderly for whom because i can assure you that any sort of situation however well managed for the group for the ordinary greek it's going to be very disorderly indeed it's going to be very very turbulent. people have been modeling what a greek exit from the euro zone would look like for the best part of a year politically and economically politically even those who are in favor of greece leaving the euro zone it would involve the army being on the streets to keep order it would mean the banks would have been shot possibly shot that the a teams would not be working it would mean that people be stopped from leaving the country especially with this moves of euro's in their back pocket because the country would
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then need to stop all capital from the country and to maintain a very high level room order so it would feel affected like a country in the market will vote the question all in the saudis really for the rest of the euro zone if the euro zone can say to threaten to financial markets look greece is leaving but we all know that greece is a special case you know behind our hands will say it's a bit of a basket case and actually its problems are not the rest of the euro zone that's what they really mean by an orderly exit if they can convince everyone that greece is leaving because of greece not because of the euro i don't think markets could buy that because the rot has gone so far. financial markets i'm willing to lend to spain or to italy that i don't think people any longer see is a problem confined to just one or two small countries and what about the situation with the banking sector in greece at the moment you talk about sort of disorder on the streets we've seen in the region of a billion euro is i think withdrawn from greek banks just in the last ten days how
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significant is that how close do you think that is to panic withdrawing a run on the banks essentially i went into one big banks in greece in the capital athens in syntagma square last summer and i asked one of the cashiers what's your most popular financial product and he pulled out a safe box and he said what people are doing now is they are renting from us to put their money they no longer keep their money in the count in the bank they keep it in a safe box in the vault below almost under the mattress exactly like twenty first century of keep it on the pillow. so actually a bank run has a very slow motion bank run has been in greece for the best part of a year what you see in the past ten days is that sped up dramatically. the banking system in greece told him the purpose is been a zombie five banking system for the best past years because most of the debts that greece holds has been written on so much and a portion of those debts held by the greek government are held by the greek banks
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system so effectively a sudden appollo worthless loans and that's before you get on to the loans are made to businesses and households which also not worth half what they were if that. so it's pretty clear that whatever you would have to do to greece where it stays in europe where it does then you're aware victims was thirty were doesn't it in your thirty in need to do something to restructure and to bring back to life its banking system but it doesn't have the money to do up and no one in the rest of europe is willing to give it a money to do that and all over europe there's a growing popular opposition to the political and economic union how of european bureaucrats failed to convince the people that the european union as a whole and the euro particularly are a good idea. i'll turn a question around you have to say it's the most it's an it's the crowning achievement of brussels it's managed to take a largely pro european continent and turn it so wholesale against europe and the
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euro we're talking in britain where if you look at the popular press and even sections our political party system there are a whole variety of people who would see brussels being on some kind of conspiracy plot to turn all banal as straight and this is always been part of the british public discourse what's been really interesting from this odd channel is actually more and more the continent is turning against the euro and turning against europe and i think that's largely goes back to what angela merkel says about if the euro fails europe fails she has made europe about the euro and she's made about making vicious spending cuts even in germany which is seen as being the strongest and most successful economy of the past decade even in germany average german workers has seen his or her wages for over the path their case take out inflation the median german wages fall and four percent over the past decade so even your average german worker the person in the most successful strongest economy in all of europe is worse off now than they were when since the euro launched and how far do you think
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politicians in brussels are willing to go to save the union and what you've seen of past two and a half years is effectively a horse series of blame games going on soon as it became clear that greece was in trouble people in brussels and cross normally would say well that's greece you know we knew they were they shouldn't really been part of the year in the first place then island says hang on we're in trouble too wow you know the irish they can never control this their property market in portugal well ways portugal for heaven's sake then spain italy and so on so forth always becomes the fault of these individual countries and no point until very recently didn't say hang on there is a systemic problem here because you see whole swathes of europe now effectively going bankrupt or as close to bankrupt as you can get. and so the very belatedly they realize actually this is not just about country's been at fault but about an extension crisis for the euro. having only just recognize that they're nowhere near putting the policies in place that might save you or. thank you very much.
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you know sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else and you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom harpur welcome to the big picture. margaret mother did not like we're going to become. he was afraid. and she was very good for the. chief though. i was frankenstein's monster.
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we don't have a problem but every my. effort is i'm a i'm the palestinian or in the european side to negotiate and to the violent attacks against israel which i have no fear of war all the. song goes you have no. calling the leader of the state of israel one of the main terrorists in the world. we are supposed to be seriously examining history but you mention a few words about jewish culture labyrinth and people get so upset this is i'm sorry to say it's a form of emotional blackmail. here
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the reindeer is interesting for the herders. and when it suffers. people do their best to help. but the distances are. on the roads are tough and unpredictable. will the roman need be and try.
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to be soon which brightened if you move the song from phones to christians. these friends don't totty don't come. the headlines on t.v. and a thousand strong protest welcomes nato leaders in chicago but police give it a heavy handed response wielding that box on the back of. the world's leading economies of the gx call on greece to sit tight in the euro zone regardless believe that painting a very different picture behind the scene. of the u.s. opens its weapons arsenals to bahrain's embattled king is a popular uprising in the state trips to one see them on. our top of the sports with kate.
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hello welcome to the sports update this sunday afternoon for the top stories. of europe chelsea head home with the champions league trophy after beating brian unique for three on penalties because european champions for the first time. while i am victory russia prepared to take on surprise package slovakia in the final of the one stop the world championships in finland. under roman battle re a shop of us that sounds to be found italian open title against french open champion li not just a week to go before the grand slam event in paris. but first thousands of chelsea fans will give their team a hero's welcome when they return home to west london with the champions league trophy later this sunday as an open top bus parade is planned off the blues beat by in munich for three in a dramatic penalty shootout in germany while chelsea were on the back foot for most of the game by an arena and it looked like the german side would lift the trophy to
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thomas mueller's has had to check in the eighty third minute however the drug was only bullet head and shortly off was sent the match into extra time and although he then gave away a penalty of form of move on you know rope and missed it so with the score starting got one warning it went to a penalty shoot out more drama followed bastida schweinsteiger as misgave drives by the chance to clinch victory and he slotted home to make chelsea champions of europe their russian i looked out of all which finally tightening the trophy he's great since buying the club line years ago and spending an estimated one in the whole of billion dollars. well i didn't say we celebrating a unique double after also winning the f.a. cup during his ten weeks into skate take a manager but it's still unclear if he'll leave the team next season. i don't know what the future's going to hold we are just very happy tonight. to have made history for this club is the first time that we have won this competition and it's
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very difficult to win it and we went very close so the club when the very close four years ago and and you know i think a lot of the player thought i know ok we'll will qualify again for a final and didn't come until until two thousand and twelve so it's a different competition to win and you have to take a chance when it comes. to you chelsea with a lucky exchanges they played typically israeli do at the moment so you know and i said my congratulations to chelsea and london the team for brilliantly they stood well in defense and with luck they won the champions league with a penalty shoot out and they're going to well there and i prizes for guessing he was the man of the match didier drogba collecting his award after the epic encounter answer thirty four year old is relishing the i'm saying the victory had come off. white been here for four eight years and always so close oh we're so close and so far the same time and today.
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we have it we have discussed. going back to the stanford region and this is the best feeling ever. but also meanwhile in london the match billed as the richest in world football took place at wembley as west ham returned to the premier league at the first attempt by beating blackpool to want to win the championship play off well with both sides looking to return to the top flight after being relegated last season former england striker colton cole broke the deadlock between hammers in front ten minutes before the break however the seasiders were right back in contention early in the second period a brilliant long ball was latched on to by thomas ins some of course to make it one one but the final say belonging to the london side ricardo vast a firing home the winner in the eighty seven minutes to ensure manager sam allardyce fulfill his promise of taking the have a straight back to the premier league are also guaranteeing the trouble at least seventy million dollars in the process. now russia have been dealt
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a blow ahead of the fast approaching european championships experience defend the silly bet as it is ruled out of the tournament the twenty nine year old has got player failed to recover from appearing in time the sixty one cap the results he has been a russian regular almost a decade and was part of the squad who lost to eventual champion spain in the semifinals four years ago. says a sporting midfielder that is more love until monday to report to the team's training camp russia a world cup semifinal if you're a boy in a friendly on friday. well meanwhile russia are gunning for the third i saw the world title in five years and take on slovak here in the final of the world championships in finland later this sunday and yet they now can have tricks of the red machine sweep past the hosts and defending champions in the semifinals so i can change a surprise three one win over the informed czechs in their encounter with a slap shot on their hero with
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a brace. now into tennessee maria sharapova is looking to defend her italian open crown the world number two is that up against china's no ali in the final in rome this would be shoppers second time the season after also winning be prestigious tournament in stuttgart last month while in ali he was seeded eight is searching for her first i thought since becoming the first asian player to try for the grand slam event at the french open almost a year ago. when we won the men's side not joke of it faces out rival rafael nadal later on after the serbian roma born b. roger federer on saturday when it comes federer looking a little wary under the lights in rome and last the opening sets to the defending champion six two the second was closer which to have the upper hand on the tie break seven six months with this shot. now week after losing in basketball's euro league final to scott have bounced back to claim their tense domestic league title in a row the army men be simply ninety points to seventy five to wrap up their best of
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five series three nil tesco were always in control and went fourteen points up in the first. topped by few t two five in the closing quarter to stamp down another so fine. nineteen twenty twenty one. and in the n.b.a. playoffs the san antonio spurs and oklahoma city thunder are just a window each from making the third round someone to be elevated to ninety six to eighty six and that gives them. three no seriously in that sort of seven contest oklahoma three one up in that side with the los angeles lakers winning the latest encounter hundred three points to one hundred or so westbrook getting thirty seven of them. in a win was. maisie when you know everybody can't fight we all believe in each other
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and as for me i just came out and tried to continue to stay aggressive try to find a way to keep us in the game you know i was a little stiff i have time but the playoffs and you know you can afford to sit back and want to write it. the start of this sunday all things french drawing praise in pole position the spot it was just three hundreds of a second quicker than funded to make a system in qualifying castrating to seeking a second strike when they got to second and the physio say the better two thousand and ten champion for veterans i just don't feel sad and that waste is now under way . and finally becoming a team player isn't always the easiest task but children from around moscow never have the chance to develop the bonding skills like they've never done before a michael craft janko has been finding or. camps but children in use have always been promoted healthfully russia but looking for more specialized adventures which develop and hone skills and help promote interaction are still far fewer between
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the russian and venture a map based model and his father had managed to bring team building exercises to the outskirts of moscow. located roughly one hundred kilometers from the capital is the first fully equipped obstacle course of its kind in russia. the main difference between this course and others you can find around russia is that it focuses on providing challenges kids there's a seven or eight which can only be tackled as a team and the fact that they have to complete at least ask such as crossing a random bridge gather they learn new skills and qualities and overall become more confident indeed watching a group of hearing impaired kids taking on a devilishly tricky crossing six metres above ground is more inspiring and although it's meant first and foremost for the less fortunate children organizers insist that there have been plenty of healthy adults who chickens out when dead not so for these little adventure seekers keep with the how's your experience been restored
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last night well of course it's scary when you climb on here you can understand what else has happened on your own it would be difficult but my teammates maybe. there are quite just. few different obstacle courses available from rock climbing to trench style insurance tests but it's the rubicon towering construction in the heart of the camp the jewel the most gas now it's named after the italian river that through the seas and his army once crossed back in forty nine a d. and of course that also means crossing the rubicon means crossing a point of no return now the organizers and creators although this obstacle say that it cannot be reached or completed by yourself you need a team for that but i'm going to sneak ahead of the pack here and see if i can complete it without any extra help. and of course. this is easy as.
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well i may have been the truth a little bit that it's really easy or difficult to do and there's no way to achieve that. it's truly amazing how productive and proactive even the most shy or disabled child becomes once put to the top beverly i learned how to keep my balance and control my fears and how to do that. don't be scared and keep going to come back again yeah i'd like to come back next year so it's better than playing bass they said yeah it's better than a play station. there may be only one rubicon in russia a moment but with such experience that these kids take away with them it can only be a matter of time before the secret gets out. of moscow region. and . that is all the support i think.
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well. it's technology innovation all the latest developments from around russia we've got the future covered.
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wealthy british style. markets why not come to. find out what's really happening to the global economy with max cons or for a no holds barred look at the global financial headlines tune into kinds a report on our. download the official antti happily cation to on the phone on the pod touch from the i.q. tops to. watch on t.v. life on the go.


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