The day when was that and when did it change and why it. May be a very long time ago when the Olympic Games were first beginning to be held it was funded by the i. O. C. Or by the other organizations but the olympics have really exploded in terms of their size and their lavishness and the abilities that the International Olympic committee once built and now its local governments who are expected to foot the bill in fact theres the i. O. C. Requires any host government to guarantee any cost overruns associated with Facility Construction for hosting these games ok and how do countries with economic infrastructure concerns seem to win these bids for games over others that had in place the infrastructure like youre talking about in calgary it and even more eco stable Economic Security situations. Well you know its one hundred percent under the control of the International Olympic committee to determine where the games are going to be held so you know when the i. O. C. Decided to put the summer games in rio or when they decided to put the games in beijing the summer games in beijing or any of these places there theyre putting the i. O. C. Is in control of that so if they really were interested in placing the games in developed countries the i. O. C. Could do that and they havent done that theyve theyve shown this trend recently to want to put the games in these developing countries that as alex pointed out and as many people know are not in the financial situation where they can lavishly spend on facilities yet the i. O. C. Somehow forces them to do that and then the marker in a stadium or all these facilities in rio that are just sitting there unused thats thats really puts a lot of financial burden on developing countries and i remember in rio they had all sorts of environmental problems you know the people were worried right up until the get go before everybody showed up with the water and everything so it was a big deal what it what are your expectations professor for the visa lympics are they going to be as bad as some of the ones that alex and you have talked about this year or is it hard to tell right at this point. I think that it is i mean as youve already mentioned it depends on how many cities are really willing to step up and bid for these games but you know we talk about calgary and the two thousand and twenty six winter games there are still seven or eight five or six cities that are that are bidding for those games and as long as that happens the cost overruns are going to continue now in the summer stud as youve already noted they didnt have any appetite they had two applicants paris and los angeles for the games and they awarded for the First Time Ever in history two consecutive games at the same time the i. O. C. Has to be worrying that cities have caught on and theyre no longer willing to bid against one another to to bankrupt themselves in order to host the games and i think it will just remains to be seen for the next summer games that are awarded how many cities actually bid for it really great information appreciate you helping us drill down into it dr Brad Humphreys associate professor at the Regional Research institute at West Virginia university thank you have a great weekend great talking with you too. And before we go to break with the numbers china has said that it may launch a yuan denominated Oil Futures Contract given march china is the Largest Crude Oil importer the move if successful would challenge the two existing and loyal benchmark those are the west texas intermediate contract which is traded at nymex the New York Mercantile Exchange and the brant contract which is traded at the Intercontinental Exchange ice futures in london so stick around when we get back well talk to workers and wages and here are those numbers at the closing bell. All to see we have a great team but we need to strengthen before the free world cold and your bets have been a legend to keep it to the back. In one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and im hoping to bring some of that winning spirit to the r. C. T. Reason the ive had a lot of practice so i can guarantee you that Peter Schmeichel will be on the best ball since my last will come on that story as well as three. Thousand zero zero zero zero zero i call russia. Nice dry. No left left left more or less ok stop thats really good. Thats kaisers financial survival they say money the balance is. Going to be easy this is a central plank of the poor diet problem is kind of problem right now so he stopped. Twitter has reported unprecedented quarterly profit of ninety one point one Million Dollars in the Fourth Quarter of last year the profit making milestone was reached largely by cutting expenses by twenty eight percent overall revenue grew by only two percent to seven hundred thirty one point six Million Dollars twitters revenue in the United States actually declined by eight percent twitter c. E. O. Jack dorsey said raising the tweet character limit from one hundred forty characters to two hundred eighty characters has increased engagement with fewer abandoned tweets. The politics of debt and disaster are heating up again and in the eurozone with some very tough words from the French Foreign minister or what to do in case of future bailouts the french finance minister said a german proposal on this would be a gift to extremists are those tough words on the tough issue for the future of europe to preclude confirmation between the euro zones two major powers our correspondent peter oliver has more frances finance minister has hit out a chin and backed plans that would see private investors automatically take a hit should a country in the euro zone apply for a bailout well bruno imad has said that the plans put forward by the lane would make the euro less stable as a currency and it would also fuel euro skepticism now the German Finance Ministry here in berlin which put forward these plans they say that it would well the move would force investors to be well careful when they came to buying up. Sovereign debt and that it would also reduce the burden on taxpayers in bailout countries the move is backed by the government in the netherlands but opponents say that these greater powers for the european stability mechanism which is the Eurozone Bailout Fund would create a perpetual cycle of crisis and would spook investors now of particular concern to analysts are countries with a high debt to g. D. P. Ratio with italy singled out as a particular cause for concern along with greece which is still pretty much a fiscal shambles almost ten years on from the two thousand and eight banking crisis. And tippi may be a matter of etiquette but its also a matter of dollars and cents for our nations lowest paid workers will learn a little bit more about the current controversy on tips and wages but first lets get some perspective i was in europe recently where a service fee on your restaurant tab is more common than fifty in south and Central America the protocol varies widely though the major nation of brazil follows the european model of a service the typically ten percent in africa for example its smart even thoughtful defer words if being in india failing to tip could cause a big sea and in china on the other hand its generally a non Tipping Culture the bottom line is that many countries that are less wealthy than the United States still do a better job of guaranteeing Service Workers a floor on their income lets turn back to the u. S. With Diana Ramirez deputy codirector of the restaurant opportunities sector a diana thank you for being with us again its a real pleasure to have you now explain what this tip sherry will is that labor secretary has put out and the Comment Period on this thats a public Comment Period that where everybody lets their views be known and they may or may not be taking into consideration that Comment Period just ended what is this proposal so the department of labor now under trump is put out of rule stating that that as long as the restaurant pays their tip servers the federal minimum wage to seven dollars and twenty five cents tips then belong to the house to the restaurant so theyre no longer property of the employees they will now become property of the restaurant so you wait on a table you get your seven twenty five an hour they have a meal it could be expensive meal it could not be an expensive meal they give you a tip gratuity for your search. This and then you give that money to your employer and the employer decides what to do with it exactly this is real this is not like hyperspace fake thing thats correct the employer can because its a property of the employer now the employer gets to choose whether they want to share it with the line of service with the back of house or just keep it they dont have to share it. Ok so heres what i know and i have a little bit of familiar familiarity with this that when workers who are being paid what is it to thirteen an hour to thirteen into thirteen is not the minimum wage of seven twenty seven but to thirteen our kids are going to get tips that oftentimes those workers dont make the minimum wage of seven twenty seven so its already a problem so if people are trying to raise a family on seven twenty seven a year and theyre not getting any tips they simply cant do it in my view is that correct i mean theres data to support that i see right right restaurant workers rely on social Services Food stamps medicaid twi at twice the rate of the working thirty hours a week or all their data on the week so that the lord is going to pay health care forty hours a day or they have to twenty hours a week jobs you know and it just it really is a tip stealing role is what theyre putting out and you know the department of labor has the obligation to put out an Economic Analysis when they put out these types of rules they didnt this time around they said it was too hard to figure out how much how this would impact the economy so in lieu of the official Economic Analysis by the administration the Economic Policy institute ran their own analysis and they found that almost almost six billion dollars would transfer from low wage workers to employers and four point six of that would cure trickle up and trickle up exactly and we you know were already seeing one of the biggest tax breaks to the richest one percent and coming from from other classes and this this would be a transfer of wealth also. I almost hate to go here but is there some sort of gender or Racial Discrimination in this with your gordonia of course four point six of the almost six billion dollars will come from women because seventy percent of tip workers are women so it comes from women and. People of color will will lose have the most to lose under this proposal ok. So thats sad so what is your main message to the Labor Department needs to be put in all these comments what were give us the high level comments that we want our viewers to understand also the high level comments are one employer tips the tips are our tips tips belong to workers even if they are shared with a line of service they should never go to the house so have imports have the workers decide whether they want to pool their tips or not and even if they do then they should that money should stay with them the managers and the owner should never put their hand in the tip jar. You know one way to over do rules to overturn rules is to change laws and the way to change laws is to change members of congress and im not saying that a members of Congress Need to be changed but they should have a view on minimum wage on this tip sharing rule and so even when an agency any agency in the government puts a rule in place that rule can be undone if Congress Passes a law to do it so well see where the Labor Department comes out when you expect them to do a final you know they put it out december fifth is when they publish the rule and the Comment Period closed right to june fifth january fourth was the original closing date so of course thats the biggest season for restaurant workers people are holidays are not going to come and no time to come and so then they said ok fine well give you another thirty days that it that expired february fifth and now our friends on the senate and on the hill are sending a letter signed on letters to ask secretary casa and the administration to rescind this rule because not only is it tips i asked for low wage workers but there was a whistle pullover whistle blower inside the deal well who. Came forward and said in fact we did do the Economic Analysis but the numbers came back unfavorable and we were told to go back and fix our methodology and when those numbers still came back on favorable we were told to publish the rule without the Economic Analysis so they lied about it theyre being very sneaky going into a bear is thank you so much for being here appreciate that information hope youll come back thank you. Before we go we spoke with a lot about the olympics today and we did so from our usual boom bust economic or financial perspective that said the games are certainly more about anything other than money business and profits theyre about sportsmanship and sportswomen ship this olympics was particularly important due to increasing tensions between north korea and south Korea Nuclear weapons is a really big deal and it could be horrendous in the wrong hands lets just hope that the good efforts that we have at the olympics a sport and ship transfers over to Foreign Policy the rest the business and economics will take care of itself thats it for today be sure to catch boom bust at you tube you to youtube dot com slash r g boom bust r. T. Have a good week and enjoy the olympics. Despite its tough going to destroy the soviet union dominated International Sport however this was about the lives of those from the. World better with. This guy through what were your. First computers or for you when you were the first soviet lympics with nine hundred fifty two when you did seeds of a concentration camp prisoners. And from slime soldiers. Baby if you north its good to go from here with your shoes because you. Know you have an issue. Because youre bursting with if youre in for been one fall through forward to get out of this with you if you think that the area were going to go with. The variations your question for through personal personal enthusiasm will you do when youre at the national were going to be putting your work for workers we are in the world now as you know can we. Some my money more and entertainment have become good in our culture and we have children grow up playing plain looking on the computer this one has somehow been to mystic cited as entertainment to russia just because nothing funny about it is so serious russia will be the last to give up Nuclear Weapons because russia regards Nuclear Weapons as the bulbul. Of the against inflation a waltz by the superior covetousness full. Ride up close to the first out of the two looks. Good enough to concepts to paint to perform i had actually passed myself to die. No said he did what. The state tests when asked and. As mr thank you all know it was slow in home a lot of stuff started. Her. Scanty was. The of the good civilization. So well see if you think. It was that he could with us the. Yes get more deep machine. A couple hundred twenty b. S. I never knew. So fish military helicopter crashes near syrias northern border with conflicting reports over the course of the incidents that happened in an area where turkey is carrying out a military operation against kurdish militias. Meanwhile in southern syria israel strikes twelve targets off to damascus downs an idea fighter jets are calling it a response to israeli aggression. In the south korean president said hes ready to accept an invitation from kim jong un to visit north korea and the latest sign of Foreign Relations between the two countries. With italys general election less than a month away both far right supporters and anti fascist activists are demonstrating in a city after a racially motivated shooting we speak to the increasingly popular right wing leader norwood party. In the next election and the people use it. And this is the only we. Alone welcome only aaron and this is r. T. International good to have your company this hour now we do bridge begin this hour with breaking news a Turkish Military helicopter has crashed near syrias northern border the turkish president has accused kurdish militias of downing the aircraft and found the perpetrators will pay the consequences. The military helicopter was downed they will pay the price we will have losses but they will suffer the consequences and our Security Forces are engaged in a great fight we destroyed many of them mr poes yesterday. And im joined in the studio by artist Daniel Hawkins with more details on this daniel thank you for coming in what do we know so far about this well according to the kurdish fighters this helicopter was shot down over the village of cordura near our friend thats according to those kurdish rebels according to one it was downed in the heart of a province in the south of the country which obviously borders afrin to the west. Have been confirmed as killed in this incident thats according to the turkish Prime Minister been alejandra although he also has said the cause of the crash isnt yet clear now what is clear is that this is what helped calm the situation in north of syria and it also means that this is the third aircraft to come down in the region in a matter of about a week ten days the su twenty five Russian Air Force shot down over the israeli f. Sixteen just recently and now this turkish helicopter which does mean that various armed groups to possess the weapons to hit these aircraft from a distance im sure a lot of people are wondering what is turkey doing on syrian territory in the first place well thats a general staff themselves said on friday they bombed around nineteen targets in the air for the area shelters i mean the pows gun positions all belonging to terrorists. The turks used to cover those various kurdish militant groups in the region now its three weeks now since operation all of broadchurch began on january the twentieth according to the word of when an operation to clear the border area of terrorists and what he described as return the syrian land to its people and theyre doing of course themselves recently stated that once our friend is captured and liberated other areas are next to take a listen. You know you dont were going to continue the only french operation until we achieve our goals and then as promised to clear man beach of terrorists after continued i was trying to go up to the iraqi border until no terrorists are left. Turkish forces are still a very long way of course from reaching into any areas very much deep inside syria but what this could mean is that Turkish Forces are bogged down in the long run in various areas in Northern Syria fighting groups which ironically are armed with u. S. Weapons whats the threat that this could escalate further while the threat of escalation is serious u. S. Forces are obviously on the ground in Northern Syria across that whole border region theyve been involved there as part of that advisor system equip Mission Helping those kurdish groups and said man bridges another target the city to the east in Northern Syria as well and that could bring the forces into direct conflict thats something that the americans have very much been worried about this is one of what theyve had to say we would call on certainly on the turks to not take any actions of that sort dont want them to engage in violence but we want them to keep focused on isis or turkey in the u. S. Or obviously know to allies they have been for decades but they also support diametrically opposed factions and sides in this war and the fact that they are in such close proximity could be a cause for concern and for further such incidents of course to take place in very worrying escalation indeed Daniel Hawkins thanks for coming in. Things seem to be hazing up in the skies over the region syrian air defenses have responded to new israeli raids near the capital damascus the Israeli Military confirmed its attacks twelve targets in syria including both syrian and iranian facilities israel says the raid was in retaliation for its fighter jets being downed by the Syrian Military jet crashed in northern israel with the pilots managing to eject however damascus says that is that defensive hit the plane in response to a previous attack by Israeli Forces and the perspectives in syria and israel on the situation defy in certain respects this morning the tsunami command and confirming. Syrian aerial defenses that intercepted israeli fighter jets that were carrying out an airstrike on location in central part of the concrete and then later on the news agency the state news agency said that israel carried out subsequent strikes on locations west and south of the syrian capital damascus also said that the fences from the syrian army have been intercepting piece attacks we can also confirm that the sites that were targeted. Earlier attack that took place on dawn today is the tea for. In central syria in the deserts of central syria near of problem iraq military sources are saying that there has been no casualties on the three hundred soldiers in this storms attack but that is not for sure confirmation so far as we have been heard before by israeli airstrikes. Earlier this year and back then israel said that it had what it believed to be and a gathering of iranian advisors and the command building of the syrian armys First ArmoredDivision Well its a play in three acts it all started with an iranian drone remotely piloted vehicle which entered. Israel proper we dont know yet whether for surveillance or attack and it was shot down by an Israeli ArmedApache Helicopter now following that particular incident the Israeli Air Force has retaliated against the launcher of this particular drone. Hitting the. Command and control of vehicle and perhaps the launcher itself and during this attack one of the israeli f. Sixteen s was idea of heat by Syrian Ground defenses or the pilots got the impression that they are about to be hit and bailed out israel has again retaliated hitting the at twelve targets several of them being iranian and several syrian this is the most serious incident. Between israel and syria and definitely between israel and iran in many years perhaps in ten or fifteen years we have not seen the like a feat meanwhile lebanon has a complaint to the u. N. A key thing is relevant violating its sovereignty after televisa the countrys aspace to carry out the attack on syria next blumenthal fancy me at its at the real needs dot com so the escalation with lebanon didnt without any cause last time and this time it could be even worse. Its a dramatic incident for a number of reasons first of all this is the first israeli plane that syria has down since one thousand nine hundred eighty two second of all israel is unable to escalate for a number of reasons Benjamin Netanyahu was in the opposition when the Israeli Government attacked southern lebanon and lost to hezbollah in two thousand and six and he fears another escalation in which hezbollah is substantially stronger after the experience its gained on the syrian battlefield and the syrian army has gained advanced russian air defenses the s two hundred for example which appears to have downed this f. Sixteen so israel is in a tight bind here and they have blamed this entire incident on iran and consider it an attack on israeli sovereignty which is actually frankly bizarre because the Israeli Military struck twelve targets inside syria not israel and the Golan Heights is considered under International Law syrian territory. The south korean president said hes ready to accept an invitation to visit pyongyang from the north Korean Leader if certain conditions are met this potentially sets up the first meeting between koreas leaders in more than a decade the invitation was delivered by kim jong uns sister who was attending the Winter Olympics in south korea shes the first member of north koreas ruling family to visit the south since the one nine hundred fifty eight youth she met with president moon for a three hour talks on the Opening Ceremony off the winter games also hinted at foreign ties between the two states and both teams marching together