others and in the very near future will be crossing live to an eastern army who is covering the summit for us in seoul well it is the latest twist in the summer's a big spy scandal a russian newspaper says it's discovered the identity of the man who exposed eleven russian agents working in the u.s. come asunder daily claims it was a former foreign intelligence service employee but so far there's been no official comment you go to school reports. community newspaper claims to have held its own investigation and the see that almost call for an officer of the russian foreign intelligence service was a double agent working undercover in the us migration service and it was him responsible for blowing the cover on his colleagues in the united states last summer which resulted basically in the biggest spying scandal between moscow and washington since the cold war era the newspaper says that before this scandal erupted kolo should walk off was offered

a promotion by russian authorities which she rejected possibly because he had to take a lie detector test which could have revealed his activities as a double agent and also reportedly so a month before the scandal should walk off daughter left russia to the united states. and also this could be put to him that she might have known that something was about to happen in june american authorities announced that the of arrested a group of people suspected of being secret or russian agents who worked in the united states undercover for years in some cases for decades and they've all been arrested and found guilty by a u.s. court of being unregistered foreign agents and deported from the united states to russia in exchange for four people who are serving time here after having been found guilty of being foreign spies back then this summer everybody was talking about chapman and one of the people in that group deported from the united states

a very successful young businesswoman everybody started calling her the russian james bond girl and she really got most of the media attention now became a sun newspaper and is now also focusing on the one of the members of that group of deepwater from the united states this man has already been deemed a super agent and this is mikhail. kuo left of the soviet union back in the name. sixty's spain and then to a lot in america he became a photographer and became known under the name of one. traveled to the united states became acquainted with loss of politicians and other officials and reportedly denying to being a russian agent up to the very end and it was actually you. who presented to the. proving. a russian agent and it was only even that he actually said his real name to the investigation so some really interesting details are now

emerging despite the fact that the scandal itself erupted just several months ago. reporting that now let's get back to one of our top stories here g. twenty leaders are in south korea all trying to get the countries back into good financial health but they are also keeping an eye on the currency war that threatens to overshadow the summit of everyone on the tsunami is following the gathering in seoul and now joins us live hello to you so and he said it's not going to be just all smiles between the heads of state there are some serious disagreements. there is indeed we did see a lot of smiles today but that's partly because the first day of the summit is really a day for bilateral meetings for the leaders to kind of lay the ground for the big working session that's coming up on the second day president medvedev met with british prime minister david cameron there we saw a very positive dialogue both agreed that they do see eye to eye on many of the top

priorities that are going to be spoken here about here at the g. twenty and of course the top top priority is the economy and you can't talk that without china president medvedev did meet with president hu jintao and there they most likely spoke about the u.s. fiscal policy which the world is not very happy about right now the u.s. of course demanding and pushing very hard leon china to revalue its currency while at the same time. i'm pumping six hundred billion dollars into its own economy of course devaluing the dollar so an air of popular certainly called out on the you asked by china and other countries like germany to talk more about this joining me is don kirk who is a journalist and author he's also a reporter for the christian science monitor thanks for being with us let's talk about these currency wars the u.s. demanding of china what it itself doesn't want to do what's that all about well the u.s. is not getting very far as you pointed out with china or with russia or with brazil

or india or any of the other major powers the us has a terrific problem with its trillion dollar trade deficit how do you get around this problem the u.s. also was a trillion dollar budget deficit what are you going to do. the u.s. the solution stopgap solution is to sell treasury six hundred billion dollars worth of treasury bonds which is a fancy way of printing more money and this goes on world markets and the dollars appreciates more so the chinese position is well you're depreciating the dollar why should we really value the renminbi the chinese currency which the u.s. keeps on insisting on so it's really a standoff there was talk weeks and maybe months ago consensus here nobody today is talking about a consensus they're not going to reach a consensus on currency here but they are going to talk about is the need to redress global imbalances they're going have a lot of fun playing with words like that but after they've done all that after the wordplay is done and the handshakes are done there will be no deal here that really counts when it comes to currency. the currency issue what about the answer

globalists we are still some protests not as serious as we saw in toronto how much is this u.s.s. cole policy something they dealt with because they were pretty anti u.s. it's not a secret that i don't like what the u.s. is doing but how much does this latest stimulus the q e two affect the calls they're making on the streets of seoul to tell you the truth i was just on the streets of seoul with these demonstrators there. and from a journalist point of view it was pretty disappointing we were expecting fireworks i wanted too many fireworks and there was a parade of several thousand people and you know there were several thousand policemen and a great buses on along the parade route they were supposedly according to what we thought were going to try to get to the national museum with all the world leaders were meeting to try mining and dining and you know solving some more problems than enjoying themselves they got nowhere near the national museum i don't even think they tried i think i hear a small bunch of them wound up at the u.s.

military base but there are signs and stop g. twenty and i wasn't really any american to tell you the truth there was stop g twenty and don't blame us for the crimes that you're committing a don't blame us for the crisis and all that but i was with him for a couple hours half and i did not see a lot of anti americanism i should also point out i was with him on sunday when they had a much larger demonstration in central seoul maybe was many as forty thousand and again there was a little confrontation with policemen there but not a big one and. again it was not good to read that we have the americans for if you want to question that hard enough they would come out with anti american. comments but it wasn't really directed at the u.s. it was directed against the g. twenty the idea of these people this small group of leaders trying to dictate the economic future of billions of people you know but it wasn't that it wasn't and there wasn't any american overtone this time much to my surprise right on her going

to have to leave it there thank you very much for your input i do know of course again the high. priority at this g. twenty summit whether they find a consensus or not is going to be those currency wars the high stakes battle for the world's exchange phrase alice never has more on that side. they'll be plenty of soul searching at this g. twenty for the south korean capital it underlines its economic awakening but there are a. just spats to iron out his country circle their financial wagons while others try to cool the shots then there's the problem to the north this year's g. twenty is being billed as the financial coming out of the end of the south korea proof of just how far the country's come in the nearly sixty years since the end of the korean war once poorer than its northern communist neighbor it now boasts the thirteenth largest economy in the world north korea may just lie some four kilometers north of this freedom bridge and demilitarized zone but economically the

two are worlds apart the threat from the democratic people's republic lee was particularly large and solace in taking any chances with security forces on high alert but it's another conflict on the g. twenty leaders minds the outbreak of the so-called currency war the us lead the charge accusing china of cheating world trade by also officially weakening its currency it wants the one to be bolstered the united states is going to try and saying we want you to commit economic suicide just like japan did we want you to follow the same thing we want you to revalue their currency we want you to squeeze your companies we want you to go bankrupt or you can imagine what the chinese are laughing thinking here are you guys and yet washington stands accused of allowing its own dollar to windle roiling emerging markets whose own currencies are rising strongly and damaging their export competitiveness can plagues intensified after

the federal reserve announced a second print run of six hundred billion dollars the quantitative easing designed to get cash flowing but with other economies warry will flop their market russia's president medvedev wants the summit to agree that when countries like the u.s. take big steps to save themselves they consider the ripples it causes to get permission from the g twenty. just the russian position is that we need more coordinated approach we don't want surprises from partners. we want. a more intensive. and central banks finance minister. and this can be great some stability in the markets among other leading critics of germany the world's fourth largest economy its finance minister calling the us helpless i don't think the u.s. is making its case any stronger through the measures that is taking through

printing dollars to weaken its own currency because that looks far too much like a competitive devaluations one hundred european countries see it as a dangerous move because what it could do is increase the capital controls around the world but that's not what barack obama wants to hear the president's call for germany along with china and japan to rely less on bad dominant export markets and spend more to. death is the truth is that no one is happy with today's international monetary system especially the dominance of the dollar as a reserve currency and america's management of it and what business leaders want the g. twenty to realize is that nations will have to fight their natural urge to try and protect their own countries trade and foreign investment unless if it sells south korea. well britain's prime minister has condemned the rioting and that broke out

in london during wednesday's student demonstrations it was the biggest protest yet against the deep cuts the country faces to tackle its massive debt tens of thousands of students marched against a planned hike in church and fees which could see them travel to nine thousand pounds a year tempers boiled over outside the headquarters of the conservative party which is the main group in the governing coalition protesters burned banners broke windows and fired missiles at the police over thirty arrests were made in the clashes which left several wounded the spike in college costs and the harsh budget cuts come a time when the u.k. is planning to send up much more money across the channel to fund the e.u. next year james prior and the e.u. campaign believes that britain could save a lot of much needed cash pulled out of the bloc. we're sending forty eight million pounds a day forty eight million pounds a day to the e.u. i mean that's a huge amount of money i mean you know our cases are going if we pull out or least

have a referendum and saying i'm pulling out will be saving that money we can you know we can look at all sorts of other you know savings and all these vicious cuts that you know that cameron and clegg are bringing in the e.u. which talked there you know this is an organization that hasn't had these accounts altered for fourteen years i think if i'm right from saying they've just rejected the latest round of. accounts i mean you know this is you know this is an unelected group of people you know it's all down to interpretation i mean they're saying anything i think cameron's been completely misses rise in this and i think he's also missed the mood of the people i mean the people are really now showing you know that you know we can't stand that it's all down to interpretation as one hundred twenty billion we send over then we get money back and yes actually of course we do get to break it down to terms that we can all understand it's the equivalent of us sending them two pounds sixty and they give us a pound back that doesn't make sense to me. it's now quarter past the hour here in

the russian capital you all with bear in mind that story and many other stories are waiting for you online at home and here's what else we're updating online for you right now former president george w. bush years of silence to give his take on his role in the most turbulent decade in recent u.s. history. and the interactive that's literally designed to shock why this russian artist is letting strangers on the internet give him a painful. the condition of the russian journalist savagely beaten in moscow last week is said to be slowly improving but his wife says he's still a long way off from making a full recovery the case has been transferred to russia's top investigative committee prosecutors claim they have a real chance of finding the people behind the vicious assault on was attacked on friday night by two men who almost beat him to death with metal rods police

suspected the journalist investigative work for the newspaper and his internet blog that provoked the attack. now let's get to some other international news in brief this hour and iraqi leaders have agreed to create a unity government after eight months of political standoff nudie al maliki will serve as prime minister for another term under the new deal which includes parties from the she and kurdish sides because she a sions have been ongoing since elections in march failed to produce a decisive result it's hoped the deal will help to stabilize the country's fragile security situation. the u.n. says that israel's easing of its blockade on gaza has brought no material benefits to the people living there a spokesman said few people would have noticed any difference at all the blockade was imposed three years ago which was eased in june due to international pressure after israel's attack on

a turkish aid flotilla. more than six hundred forty people have now been confirmed dead as a result of a cholera epidemic in haiti aid workers are trying to contain the disease from spreading further while about ten thousand people are currently being treated in hospitals there are still fears that the outbreak could escalate following last week's hurricane with millions considered to be at risk haiti's health ministry says the epidemic is a matter of national security. in mexico over one hundred families have a skate from a border town following a surge in drug related violence residents left. for another town nearby after the killing of a u.s. tourist drug cartels have been blamed for a huge rise in mexico's murder rate over the last five years. well russia is set to double up on its stake in the world of formula one is just been confirmed the moscow based super car maker has bought

a share of british f one team virgin racing with a russian event soon to be added to the racing calendar interest in the country is really starting to rev up r.t.s. time botton has more on model c. is driving ambition. you seem to have rather exploded onto the scene a less start with the man behind the company or one of the co-owners of the company nicholai for menko a huge figure within russian racing a distinguished russian race driver and also the host of the russian version of the television motor show top gear this company the russie of which here is a cone or it's a super car maker it's revealed already some very high performance cars and next year everyone's waiting with bated breath because it does announce that early next year it will unveil its first f one car already under stock under construction in the u.k. the company itself wants to build commercial cars as well as super cars but now it has moved further into that glamorous sport of air war by buying

a large stake no figures mentioned yet but unfortunately not a controlling stake for certainly according to reports a large stake in the virgin racing team in britain which makes it all the formula one team so it's classic going to be on the track sooner rather than later on there we'll see how they do their name itself what they're going to give it to see a virgin racing mind to track that if you want to see itself is a an informal version of the russian name of maria so what's the real virgin racing which was a child of humor from some pundits but before we start making jokes let's see how they do on the track the start of flag seems to be well and truly waved in russia over the past few days has been little bits of news coming out about formula one the biggest of them i suppose in terms of russia in the formula one scene in the

world is the deal struck with formula one after decades of waiting for russia to host formula one races in the southern resort of sochi after that city hosts the winter olympics in two thousand and fourteen. i don't use to but reporting now though former head of the u.s. federal reserve alan greenspan has weighed in the guns the policy of weakening the donor now let's turn to read a little bit of business news and you can tell us more about that mr gori well the ex chief of the u.s. central bank also says that china is pushing the u.s. to boost exports someone that in the program but first to our top story welcome to business first to the g. twenty summit russian president dmitry medvedev has called for better access to domestic and foreign capital for small and medium sized businesses to spur global economic growth speaking of the g. twenty business forum in south korea but they have said banks may need further encourage women to work more actively work as a means russia will urge the group of g twenty policymakers to remove barriers to

long term investment in developed countries to help emerging economies counter capital inflows according to the fate of eight are you that of course the proposal would offset the money flooding into international markets by creating an incoming flow of capital to industrialized nations. and stay with the g twenty and earlier we spoke to chris we've heard chief strategist at who explained that russia would probably push for more access to foreign markets. you know this is a key issue for russia this is really been a real bug bear over the last several years russia has accused the west of the like of deliberately blocking investment from russian companies into the west into europe in particular of course we have this big route two thousand and five when russia tried to buy investment in airbus d.s. industries last year of course russia tried to buy general motors opel you know and the reason is because russia wants to establish these relationships with

established foreign companies so that it can bring back that expertise to russian industries and they like that cooperation. arrangement then helping the russian companies to modernize become more efficient to make up if you like the lack of international experience in russian companies so it's a key part of russia's development and a key policy for the answer so now we've heard from countries like brazil china complaining about the u.s. federal reserve's decision to pump action of the six hundred billions worth of money into the economy we have already had many complaints from russia why is this world because initially russia could actually benefit from that emulates in a different situation to the other say so-called bric countries russia has not had a substantial amount of capital inflows in the last couple of years in fact quite the opposite flows in the last two years total almost two hundred billion so it actually could do it reversing some of the having taken some money back also the ruble is the cheaper end of the band so it's russia conservative with sustained

some ruble appreciation again which would benefit the investment case and then frankly you know q.e. which is having the effect of weekend in dollar of course to counterbalance of that is weaker dollar means higher oil prices higher metal prices which russia's boosts russia's trade position as well as its fiscal position so at least initially russia is one of the beneficiaries of capital flows that may change of course they are a year from now their priority i think is to get money. and competing evaluations are currency wars is a burning topic of the g. twenty speaking exclusively to business r.t. chairman of the to the bank question gave his firsthand view. this conflict creates additional problem please to immobility old the. changing of the currency market and. i think this is. the best for the world economy but i think it is

a direct result of the crisis. we share for the worse in the situation for many countries and reduced consumption and reduce the wealth of the world so. we really stick i don't think that these are trained to resolve these things. the former head of the u.s. federal reserve alan greenspan has weighed in against the policy of weakening the dollar and driving up exchange rates in the rest of the world. the u.s. central bank and china is also pushing down the u. ud to boost exports these currency wars could spark global trade protectionism and provoke a crisis much sharper than the one coming is only just recovered. time to see how the markets are forming now here in moscow the bourses have slipped into the red zone bank and was never among the biggest losers but helping lend support. putting on around one of the help of around a half percent on the r.t.s.

this hour and stocks in europe's are falling this hour lou losses for the financial sector offsetting earnings announcement from the likes of siemens and bt group in london bt shares rose three point one percent after the telecoms from increased its forecast for full year earnings. back to russia. and a group of investors are looking to buy out into twenty five percent stake in north . this is according to realty news agency whose sole which also owns a twenty five percent stake in the nickel producer is currently in talks with investors to set up a pool for the bit. owned by building a pipeline. to buy its stake in for nine million dollars which was. being locked in a battle over the control of. and. also seeking to place an initial public offering for his power utility euros. and

their job in hong kong by the end of the year the russian billionaire says he hopes to generate one a half billion dollars through the sale of a twenty five percent stake. and that's all for now i'll be back with more in less than one hour meanwhile stay with r t for headline news. up next.

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on r.g.p. . for the full story we've got it first hand the biggest issues get the human voice face to face with the news makers on the. more news today. these are the images the world has been seeing from the streets of canada. trying to corporations to rule the day. so you. are comfortable shuttle but. this is. just a few hours i'm sure the virgin forest and scary story.

on the moon. are included. it's now up for thirty pm here in the russian capital with the headlines now leaders of the world's a twenty richest nation putting their heads together in seoul as they brainstorm a financial revival but the threat of currency wars is casting a shadow over the summer with some countries being seen to use exchange rates to

keep themselves afloat at a cost to others. a new twist in the. newspaper reveals who it claims betrayed eleven russian agents in the u.s. this summer a russian new. name foreign intelligence service employee. is joining other european cries over cuts to benefits but the biggest display yet of. tens of thousands of students descended on london against a massive hike in university fees swelled more money. well republican victories in the us mitt underlined of voters growing anger with the current government it's exacerbated by the lengthening job queues and political infighting over the mess one democratic congressman is taking it.