>> this is the journal "" on dw tv. the headlines at on this hour. the german dax hit its lowest point this year as stocks in the u.s. deployment. >> it is heavy metal madness. rock-and-roll fans descend on a tiny german village. the debt crises in the euro zone and the united states and the general feeling that the world

is heading for another economic downturn. all of that and more has resulted in a global route in equities. >> stocks on the new york stock exchange has tumbled. the crisis in the euro zone seems to engulfs spain and italy. they have moved to prop up the bond market. >> and jean-claude trichet is worried about the jittery financial markets. he wants to leave interest rates unchanged at 1.5%. in an apparent bid to at support struggling bureau's own countries. >> i always said that we were totally transparent in what we were doing. it is an ongoing program. >> the eu commission president

has warned that the euro's own debt crisis is spreading. in a letter to the european governments, they urge to live the fund. none of these signals have done anything to calm european investors. markets continued their downward spiral. >> we still have huge problems in the southern half of the euro zone. the central bank has to make up for the shortfall of politicians. we have the debt solutions that only tackle the symptoms of the crisis. >> in his letter has sparked a discord over the handling of the crisis. germany criticized the chief's comments. pumping more money into europe's rescue fund would probably not ease market fears either.

>> the stock market route has hit equities across the globe. the mood is generally pessimistic. he sends us this report from the frankfurt stock exchange. >> some of the traders on the floor seemed extremely tense and near the end of their rope. a tumble in the dax and in individual share prices. there is a new low for the year. people fear that the tumbling share prices will continue. cheap money to be had, a growing optimism in the economy is now dissipating over the debt crises, and not just in america, but in europe. this is sending the gold price

up to a new record high. >> the picture was just as grim on the other side of the atlantic. stocks were sold off heavily today. the bloodbath that showed no signs of abating any time soon. the dow jones industrials have erased all of their gains for the year. worst affected were energy and basic materials stocks. crude oil plummeted on worries that the global economy would stall. bank of america and citigroup hit 52-week lows. a stock exchange said, why the dow industrials have tumbled more of the 1000 points in a two-week period. >> there is a lot of selling pressure and also volume is there. the volume is high and we see the big declines.

traders have suffered serious risks. there are some general concerns that the u.s. economy might turn into a recession, just two yaft. the latest economic news is not that pretty. there are some technical factors as to why the pressure increases. it is the fear that the u.s. economy might head into another recession. >> one might this trend changed? when would that have to happen? >> maybe tomorrow. we get the jobs figures on friday. if those numbers come in better than expected, that could support the market. a year ago, we had the same point. weak economic news and a lot of selling pressure on wall street. that is when the federal reserve stepped in and pumped more cheap

money into the system. there is a lot of talk that ben bernanke might start qe3. this might once again pump more money into the market. >> thanks very much for that. let's take a closer look at thursday market closing figures. the exchanges all dropped over 3%. the german dax has landed. it finished almost 3.5% in the red. stocks on wall street were hammered. it ended at 11,383. after plunging over five frederick points. the euro is treading for $1.17.

they have formed the biggest pop market. antitrust authorities say they want to examine the deal in detail before giving consent. there were is somewhat concerned that the company might dominate merges and derivatives. the new company would have a near monopoly. the eu commission has until mid december to make a decision. one of the highest courts in france has ordered a possible investigation into misconduct by the new head of the international monetary fund. prosecutors have accused her of using her authority what she was the french finance minister. >> the investigation surrounds a 285 million euro payout in 2008 when she was finance minister. the recipient was a business tycoon who was locked in a

dispute with adidas. he claims that a state-owned bank had defrauded him in the deal. she is now being investigated over her role in the multimillion-dollar arbitration deal. her lawyers say that she did not have any wrongdoing and what comes to investigation. >> i think it will be very good for public opinion, given everything that has been said and written. that way, there will not be the slightest doubt. we will get to the bottom of things. >> the probe was supposed to begin a week ago. once under way, it could lead to criminal charges punishable by up to 10 years in prison. >> she spoke earlier to our

correspondent in paris and ask what this investigation means for the imf. >> certainly, timing-wise, it is not ideal. that has not belong and now for the imf to recover from the french crisis. that said, and this case is much less dramatic and damaging. the imf's board have been quick to say that this will not affect her work in washington in any way. the imf did build a more ethical checks and balances into her contract. she is satisfied all of those criteria. this is certainly not a deal breaker. >> this is a time when the imf needs strong leadership. >> opposition socialist rivals have been quick to say that in

france this evening. a presidential hopeful has said that. in practice, this will not did started for several months. the documentation and the paperwork have to be done before the judges can get going. the french justice system is notoriously laborious. tonight, her lawyer in paris received the news calmly. that is not the reaction of somebody who feels very much under threat. >> thanks very much. >> international criticism of syria is coming a day after the government then announced his crack down. they want a special u.n. envoy to syria. this suggests that violence is continuing. these images on the internet

showed a demonstration near damascus on wednesday. it was broken up by security forces. >> for more on the story, i am joined by gabrielle up. she is in beirut. you have been in contact with activists. what have they been telling you about the crackdown? >> the crackdown is concentrating on a western city. it is getting increasingly difficult to get any information from there. internet connections have been cut off. i have heard information from those who were able to get through. according to these sources, the military crackdown is still continuing. human rights groups say that at least 109 people have been killed today. they have executions on the streets.

people are starting to run out of food. >> the president issued a decree allowing opposition political parties. it is that nonfulfillment of one of the key opposition demands? >> this is one of the key demands of the opposition. since 1963, syria has been a one-party state dominating -- dominated by the ruling baath party. they have tried to curb the protest movement by adopting the strategy. the military violence and political changes on the other. activists say that the announcement of reforms lack stability as long as protesters are still being shot on the street. in a controversial ruling in

germany, a court has awarded over 300,000 euros in damages to a convicted child murderer. he was convicted in 2002 of murdering a child. the police, leaving the child was alive, threatened him. the court ruled that he had serious rights violations. >> the state has to pay him 3000 euros plus interest, the minimum allowed by law. the convicted killer did not make an appearance on thursday. he had been threatened with torture. >> the court views this as a serious infringement of his human dignity. the basic right to human dignity may not be withheld, and even from such serious criminals as the plaintiff. >> in 2002, police quickly

arrested him after the kidnapping. in an attempt to rescue the kidnap victim, police threatened tortured to make him reveal the location. he had already murdered the boy. the european court of human rights ruled that the police had broken the law, a ruling that the frankfurt court has now confirmed. public opinion is divided. >> you should not have the right to sit in prison and do all this. >> and criminal may not be subjected to ill treatment. if he is, he has the right to compensation. >> i am shocked by what has happened. >> the ruling has also been criticized by victim support groups and the police union. >> is disgusting, says germany'' s largest circulating tabloid, reflecting public indignation.

it seems that the court was not acting out of sympathy for the child kidnapper and murderer. it was holding up the principle of the rule of law. the message is clear. the police in germany under no circumstances may threaten a suspect with physical violence. >> the world cup is under way in the canary islands. the world's best kite boarde res are doing amazing things in the air and water. 80,000 head bangers have descended in northern germany for the world ' s biggest and most random heavy-metal festival. what started out of his -- as a camping trip for metal heads has involved into a spectacle.

>> once a year, the little village is invaded by hordes of metalheads. 75,000 come from all over the world. >> is good fun. we look forward to it every year. >> it has been going strong for 22 years now. the festival has become a huge. 123 bands are performing on seven stages. the festival is always open by a volunteer firefighter brand. >> that is how it starts. it just would not be without it. >> this year's headliners include ozzie osborn, judas priest, and motorhead.

>> yeah. we are back in a minute.

>> and has been exactly one year since pakistan's worst ever flood despise 20 million people. the government still has not been able to provide adequate assistance to those affected. the country is in no way able to handle a repeat of the disaster. it started when torrential rains hit the north of the country and spread to the south. an estimated 2000 people were killed and large areas of farmland were completely destroyed. we take a look at a pakistani family that is still struggling to cope. >> he is used to living among ruins.

for the past month, he and his family have taken shelter in an abandoned refugee camp. when the floods hit pakistan a year ago, he and his wife managed to save themselves and their six children. they lost everything else. >> the water came suddenly in the middle of the night. we had no warning. my wife and i took the children and ran. our house was completely destroyed. courts in summer last year, torrential rains triggered massive floods, which devastated northwestern pakistan. masses of water spread throughout the rest of the country destroying roads, bridges, and houses. millions were forced to abandon their homes. at the end of august, 2010, nearly one-fifth of the country

was under water. there are massive amounts of reconstruction work that still has to be done. >> we have not even done half of the work. last year, we said it might take up to four years before the areas affected by the flood are rebuilt. >> this was one of the towns that was inundated. many of the houses still have not been rebuilt. he lost his house in the floods and now rents a place for his family to live. he is tired of waiting for assistance. he will try to rebuild on his own. he knows it will take time and money. >> we still have not managed to rebuild our house, even though the water is long gone. we have not received any help from the government. without support, it will be hard for us to get a home again.

cox is a similar story for many other victims. aid organizations want more help from the pakistani government and the international community. >> a lot has been done. it is still not enough. with the scale of the crisis, it is still quite slow. there are a number of areas that people would be concerned about. >> up until a few months ago, these fields were still under water. hundreds of thousands of people are having to make do with very little aid. he and his family lived in a tent. they have not received the 150 euros per family promised by government. he has no land of his own, so he cannot build a new house. >> these tents are our only

hope. the government will not allow us to rebuild on the dikes. we are sent from one place to another. we do not have a place to live in. >> there are other families even worse off. many people borrowed money after the floods. now they have no way of paying it back. >> we know there is an awful lot of people that have to go into debt to flee from floods. there are a lot of people indebted to landowners. that is a big challenge for many people affected by the crisis. >> the german red cross has responded by building hundreds of houses, using money donated in germany. she is supervising the project. in this village, the first houses will be finished. locals have been helping with

construction. >> this is an aspect we take responsibility for. the community and the family can contribute. we consider this very important that the people here are involved in the process. >> the future residents are living in tents near the construction site. it will not be long before they can move in. they were lucky. hbuilding with mud bricks without outside help. he is disappointed by the lack of assistance from the government. >> we are very angry with the government. last year, we got a tent and some food. they do not care about us. >> one year after pakistan's devastating floods, hundreds of thousands of people are still waiting for the help they have

been promised. >> victims of the flooding say that the government has not done enough to help them. we spoke to somebody that appeared in that report and asked him for his assessment. >> we hear these complaints as well. on the other side, there was a huge disaster. sometimes, you do not see have mines and that is a good sign. there was no big outbreak of cholera after last year's flood. this is one step. another step is cooperation on local and regional levels with the government. these art cooperation levels which are working. care international is doing this with local partners. we are doing a lot with local partners at the local governments when it comes to

livelihood support. when it comes to teaching the farmers to use more modern -- doing the agricultural things. these are the facts that took place in the last 6-10 months. i was there where the flood really had done severe damage to each and every part of this province. you can see it step by step, it is going on. it is not as good as we would hope. >> how far along are reconstruction efforts? >> the reconstruction efforts are going on. we could see that the government is working on reestablishing roads. if you have an idea about the region, you could imagine that you are 1,500 meters above sea level.

you remember the destruction that has been done. we said half a year ago it will take five years before the infrastructure is there again. also at a lot of work to do there. the roads are better than half a year ago. they are better than three months ago. i was there in pakistan for a time. i see some progress there. >> what do victims need the most? >> they need a clean water supply to prevent water borne diseases, which is still an issue. they need seeds to follow their traditional farming. they need houses. this is one of the main problems. the land owners do not give away their land for a lifetime, but only 10-15 years. if you live on a piece of land for 15 years, this is not a lifetime.

this is something that we have to work on. >> that has been our in depth this hour. thanks for watching.