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tv   [untitled]    June 24, 2011 1:00pm-1:30pm EDT

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this is. the u.s. house of representatives has just voted down a measure giving president barack obama the authority to continue american military action in libya. but the congressional action is a note of fact that the actual blessing bought in b.p. i'll explain why in just a few moments. the classified documents reveal the u.k. was happy to hand over terrorist suspects from iraq to be us with little regard to what we've been waiting for them in secret prisons. and also reporting this morning the euro the face of the common currency is in serious doubt as europe agrees
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another player to debt laden greece but this is the country to get behind some real spending cuts. and the former prime minister of ukraine goes on trial for abuse of power of its alleged to have cost the country millions of dollars. around fifteen hundred supporters of units of assange cold gathered in front of the court building to protest what they describe as a possible theory joining us for the latest details from the ukrainian capital kiev . oil prices that state line stopped having dropped almost five percent on thursday when business in about ten minutes. international news and comment live from our studios here in central moscow this is r.t. the u.s. house of representatives has ripped president barack obama of the authority to continue the american campaign. here in the last hour the motion was carried by two
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hundred ninety five votes to one hundred twenty three while to talk about the effect this decision will have on the american involvement in libya we cannot also live to our washington studio and is therefore is going to so what happens then to the u.s. operation in libya. well below the congressional action has no immediate effect on american involvement it's just the resolution it's not a bill but it's meant to sort of reprimand the commander in chief for his policies but there is another proposal on the table of the house of representatives and that is to cut out funding for u.s. participation in combat missions such as drone strikes in the nato led air war and only say it's a way for the congress to show their frustration over the white house refusal to come to lawmakers to seek authorization for the military actions under the u.s. constitution only congress can declare war except the obama administration doesn't call it a war although we last more than three months and involves many civilian deaths
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that too is frustrating to me on capitol hill but it's the thought the measure proposed by the lawmakers is unlikely to result in in an actual defunding of the u.s. participation in the review work because it has to go through the senate and some of the leading voices in the senate both democrat and republican made it clear that they were in favor of the u.s. military intervention in libya and would authorize it so the move of the house of representatives is seen more like a message of rebuke to president obama rather than an actual war stopper by the way earlier this month they had a chance to send an even stronger message the house debated a resolution from congressman dennis kucinich that calls for an immediate end to the u.s. involvement the levy and the majority vote no to that proposal so some analysts say see certain elements of the show in the behavior of the u.s.
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congress saying that many lawmakers they'll miss the chance to he's not the president yet knowing that the snobs will change much at the end of the day as capitol hill observers say when it comes to waging wars congress has generally been supportive they're not the most anti-war people that's for sure. as you say more of a symbolic gesture there but also is this simply a case of the lower chamber of the u.s. congress really disliking the fact. the white house. well bill exactly they don't like being ignored but even those who really truly launch to stand up against the military actions and leave you out there is little they can do as one congressman said here and i'm going to quote him you can do resolutions until you're blue in the face but still be ignored by the white house but it seems it's not just resolutions that can be ignored it it's also the voices of the american people the majority of whom are against the u.s. involvement in libya there is also one interesting point that some explosive made
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was regards to the public perception of the war in libya and that is it's off the headlines american news channels of for weeks been focused on congressman dinners crotch shots there is fear that certain inertia develops in the public perception with regards to the war in libya inertia which some say could be very dangerous kind of thanks very much indeed for that update from washington d.c. for much car america. on the news now the euro is dead and buried quite literally according to. the single currency in brussels they argue that attempts to bail out greece are too little too late and i things economic failure will leave the eurozone dream in tatters the members of agreed on the terms of a new playground for the press and the greek authorities to tighten their purse strings once again if the money is to be handed over to go mobile version a proposed twenty eight billion euro project for five years next week if approved twelve billion euros in money. could join those mourning the euro's economic.
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this is a funeral procession in the center of brussels where the european leaders are meeting to discuss the future of the greek debts and of the eurozone itself they believe the euro can be salvaged but most people including euro skeptics believe that it is impossible and there will be no resurrection of the euro to me and i think a lot of people are beginning to collapse around the. bailouts billions of pounds of taxpayers' money especially from the germans. and i think the public about enough of it and i think that the leaders of the european union have presented greece with conditions in order for the country to receive the remainder of its bailout unfortunately for greece they will have to take extreme measures which are incredibly unpopular in the country and that presents a major challenge for the greek government right immediately after it has just been for shuffled the leaders are you know mostly wrong again. they be wrong about
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greece from the very start she should never have been allowed to join the euro in the first place she wasn't suited to it they were wrong to bail her out first time they're wrong drawn by the second time and if the greek parliament on tuesday accepts this package then this time next year i'll be talking to you and i'll be a third bailout so while these european leaders are extremely excited about the fact that the future of the year old could still be resurrected most of the people in europe do not believe so and unfortunately for the european leaders the common europeans believe that the end of the euro is near. and in english that they're in brussels where for more on the future of the single currency in the european debt crisis let's talk to an economist with the europe group rolle who's in london for us thanks very much indeed for joining us the euro is of course facing its biggest crisis since it was not over ten years ago does the single currency have what it takes to survive. well it's looking less and less likely to be honest and this sort
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of system of bailouts has been going through has been proven to fail you know greece didn't fare well with the first bailout and the austerity conditions which it imposed and. doing much better now that they're looking at greek bailout that won't really change anything greece a few years but in the long run that they will default so europe is wasting its money and and its time on this and more importantly taxpayers' money. completely the most important part of the second bailout is that it is essentially bailing out private bond holders and transferring the debt burden from the probably holders on to the taxpayer back institutions such as the even the i.m.f. so that when the eventual default does come and there are write downs and losses on these on this debt and these loans will be the taxpayers footing a lot of the bill now if you did a restructuring right now it would be a much more even split and it would be a much more manageable burn for both taxpayers and private confidence but this is
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all about saving the euro or is it really about saving greece some may say that greece is actually being sacrificed in order to save the euro. well there's so many different political dynamics going on on the one hand you have france and germany who are trying to bail out greece and sort of protect their own economies from contagion if greece were to default they're afraid that you know their banking sectors would be hit substantially and they would face their own economic crisis whether that fear is overblown or not it seems to be what's believed in paris and berlin they also have the problems that you know they really have a plan for dealing with greece right now they're just trying to sort of kick kick the can down the road and deal with at a later point and they're hoping that by buying themselves some more time they can eventually can agree a sort of comprehensive long term solution or they've already done that for a year or two so it's not clear that that will ever be the case but what about the greek from cells how long can they sustain this. to be part of thought to be draconian we're seeing in the protests in the streets there in athens what is it that the greeks really are afraid of in what way will all this i think their own
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lifestyle. well massively i mean they're going to be basically forced to take a huge internal devaluation because greece does not have his own currency which can devalue outside of its own economy well this internal devaluation will mean massive wage cuts and restrictions on public spending and that will hurt the economy especially for economy where you know the public sector provides a large amount of employment and a lot of economic growth so there will be a significant change in lifestyle for the greeks and for some significant period at least say five years if not longer message though is this sending to those aspiring to be members of the e.u. we know that estonia for example that's just joined recently in january of this year and now of course croatia next in line is this really the right time for the e.u. to be taking on these members and indeed what should those members be thinking about this moment. while i mean it does raise doubts as to whether he should be expanding
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its membership particularly of the euro i mean if you look at divergences that already exists between the southern countries such as portugal and greece and the core countries and germany and france they're massive and bring in these smaller already lower sort of strength economies will probably create more divergence so it seems that there may be detracting from the real issue and the real underlying problems of the euro zone of the most important facts and b. if you do introduce new countries you have to make sure they actually adhere to the necessary conditions and necessary rules which were really in force when greece and countries such as that during the year how much does all this depend on germany and then we know that a miracle said we will do everything to stabilize the euro but of course the german taxpayer is not going to be happy about this and could indeed the german population the taxpayers have some sort of political impact on the government and maybe change the german authorities mind and stop these future bailouts. well i think the political impact is already being seen with german insistence that there is some private sector involvement in the spell out and all unfortunately the german plan
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for private sector involvement doesn't really look viable since the credit rating agencies and the e.c.b. have said that they will classify it as a default and they will not provide liquidity to greek banks are this is the case now that sort of put a hold on the german planet but you know you can already see that merkel is feeling the pressure of this public outrage at bailing out peripheral countries now that's only going to increase with time particularly since that this second bailout will transfer more money or more debt onto the books of taxpayers and it will increase their future losses now i can only imagine how bad because our age will be when these losses are really fell and when they actually hit the german economy and i'm sure that there will be significant political problems in germany particularly if this current government is still in power is the answer no for greece just to simply opt out of the euro. that is definitely one potential answer i mean if you look at it in the long term the sort of restrictions which are going to have to be put on the greek economy to make them survive in the euro and make them avoid
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having to need so the permanent fiscal transfers from the likes of germany are going to be so stringent that there's not really any scope for fiscal policy or economic growth they're going to be limited in their spending their deficit and you know where they can really allocate their money now is that that may not be the way that we can one economy wants to go and so you really need to consider whether they would be better off outside the euro zone your problem maurice is now you know just just briefly the process will take a long time and just to bring back and right now this is not really a magic wand it sorting out its economic problems. no of course not but i mean you really need to plan for this from is there is no plan in place for how some how a country would leave the eurozone now avoiding this topic completely could make the problem worse if greece was to default to so in a disorderly manner and then leave the euro in a disorderly manner the contagion would be massive and the problems for the eurozone and the global economy would be huge in other words they say just the way they will increase their greece opting out actually wouldn't perhaps bolster the euro it could actually start to collapse of the euro if it did it and undermine the
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whole. exactly if it was not done in a planned fashion and if there was not really the right research string and the right cooperation between some super national bodies to help greece out after it's just had just left the euro then it could cause significant problems for the eurozone as a whole run really good talking to you thanks so much for explaining how you see the situation there in europe at the moment raul ruperto an economist with the open euro group talking to us live from london plenty of time thank you. other news now the former prime minister of ukraine has gone on trial for abusing power during her term in office in two thousand and nine unit a mission to secure the gas deal with russia which is claimed to have robbed the ukrainian economy of millions of dollars he's dismissed the case as fabricated but faces up to ten years in jail if convicted and actually is in kiev for us. the atmosphere inside the courtroom and around the court building is absolutely electrifying around fifteen hundred supporters of unity much like as you can see
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here gathered in central kiev to protest what they describe as a farcical hearing of the farcical case against their leader against religious angle now the i really give you kind of politics or self started this trial with a little bit of controversy she refused to stand up when the judge entered the room and then she said that this judge was completely unqualified for the case and that it needed to be dismissed clearly the tension is rising as the state and has its final stage you to assemble has been summoned to the prosecutor's office for months now for questioning now this case is being taken to the courtroom and we will be hearing some developments in the next several weeks or so the crane's former prime minister yulia timoshenko is being charged with many different financial crimes including the am which you are unprofessional as described by the prosecution gas deal with russia in two thousand and nine the prosecution claims that due to those deals ukraine lost more than four hundred million u.s.
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dollars and this is clearly the main charge against the country's former prime minister it is something of a full from grace for the woman who was once one of the most powerful and prominent politicians in the world several magazines describe your its present quest as one of the most important few male politicians on the planet now she is she could become a convict and if convicted she could face up to ten years in prison even if this is that this would be suspended for her then still she would be unable to run for president for the next presidential election in twenty to fifty this according to thomas and co makes this case political and she describes it as the one being orchestrated personally by president viktor going to approach it is not the first time that you're getting a stand go is is under trial in two thousand and one she was. charged with smuggling russian gas clearly of the supporters of you to a central r. rated to besiege the court building until the year ended us coming from inside and
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will clearly be seeing more public on the rest of this case in the next several weeks or maybe even months but we'll be following all the details and bringing you the latest details as soon as we get it makes you know just good reporting that the russian president is the liberal on his promise to decentralize power in the country giving the regions a grace the same politics and the commitment of wants to appoint the current government simply does but it is the new head of the upper house of the russian parliament all teams peace all of them has more first. problem to. guarantee to be the next speaker of the federation council the upper house of russian solomons these and members of the federation council from the regions are saying this is the federation council because it's likely to moscow centric and they want to see more representation from across russia this is something that the president said yes i agree with guns but he's blocked much younger the eight year governor of st petersburg sixty two year old valentino much younger well she's
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essentially said to her if you want the job it's there and take it so it looks more than likely that she will be established as the the new speaker of the upper house of the state duma just behind me the lower house of russian government also said for a little bit of a shake up the president put forward a draft law that would mean that's the current percentage of the vote what you need to take a seat in the duma is seven percent he wants to see the us lowered to five percent meaning there's more parties in the regions that can get a share of the major power base here in moscow not just the major political parties making the whole system far more representative of russia as a whole and as i said less moscow centric know it and the presence actually go looking further than not he said it's like the same proves to be too little. of a decrease in the amount of the vote you need an election he's willing to lower it to three percent this would make make sure that a lot of the more marginal parties as they are at the moment would be able to sit
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in on a decision making that goes on of making laws and governing here in the russian federation. peter oliver reporting there and now to some international news in brief in our world out there at this hour at least twelve people have been killed in syria as anti-government protests were once again held in several cities security forces opened fire and used tear gas in a crowd in the syrian capital a three month crackdown against those opposing the regime of president bashar assad has reportedly left more than a thousand people. tens of thousands of gathered in the yemeni capital after friday prayers calling for president ali abdullah saleh to go the country's been stuck in a political impasse since february which has claimed one hundred sixty seven lives so who's currently still recovering in saudi arabia from injuries sustained in an attack on his compound earlier this month. southern port city of aden at least one person was killed and security forces opened fire on a funeral procession that turned into a mass protest. a full munda minister has been sentenced to life for genocide rape
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and crimes against humanity putting it out mr hu the country's former minister for families and women's affairs and her son and next militia leader were both found guilty of ordering and assisting massacres some eight hundred thousand people were killed during the ninety ninety four slaughter most of them ethnic tutsis in a master who is the first woman to be convicted by the un backed tribunals. was meant to ensure a healthy crop as cheaply as possible for locals living nearby it's come at a huge price a generation of no phone children has emerged in the south of india after a controversial pesticide was used on local farms despite a product being banned in other parts of the world indian authorities claim there is no cheap alternative on the market you may find some of the images in previous traders report disturbing. this girl's body is the size of a baby but in reality she's five years old in her short life syria has endured an operation to reduce the size of her abnormally large head and she's not the only
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one suffering like this the doctors have to put it through to her child's hand otherwise there would be complications. and serious mother thinks she knows what's caused it here in the cashew plantations in india southern state of carola the government's very highly controversial pesticide endosulfan on the crops during the ninety's that the people here say is causing a generation of deformed children victims groups believe there are around nine thousand children like syria with swollen heads and developing at only half the rate they should first some parents that prospect is too much choosing abortion sometimes disturbingly late my daughter was operated on in the eight months of the pregnancy until recently india with the only country in the world which allowed the youth of ngo thought that the agricultural ministries that there with them clean no other cheap alternative to the powerful past this guy but after mounting pressure
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at home and abroad as the cream court voted on an eight week pay out of the path of god which is that to expire in mid july while studies show that endosulfan causes severe developmental in reproductive problems in both humans and animals proponents of the past decide say their rivals are the ones pushing this ban. police is only. because you look when you. put the families of the sick feel that they've been forgotten for long and now. there is no value for human life it's all about the money we wouldn't care about each other the people who have money are categorized as high caste and the poor people act. hundred is low cost and nobody cares whether we're dead or alive the families are drained emotionally and financially their life savings wiped out to
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care for their severely disabled children. i feel very sad when i see my child like this it's disturbing that we have to tolerate it. there's little point waiting for government relief repeated requests fall on deaf ears in the capital all these families can do is make the most of the short lives their disfigured children will have most will die before their twentieth birthday priya sridhar artsy carola india. is here with business news for us shortly but first let me remind you that more stories for you. in just go to our website it's not t.v. dot com is some of what we have few today should you log on russian surgeons give hope to thousands of patients around the world suffering from an irregular heartbeat by successfully carrying out a breakthrough surgery. also on one of the moment the moscow international film festival is a full throttle bringing cultures and languages together on the silver screen you can watch the aussie dot com for the full red or in this case green carpet
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experience. and also on minorities and you twenty four seven documentary channel have you seen the top and launch you can learn more about it all t d r t dot com. well the temperature's up to date for the moment as promised the business is next with join us in just a few moments. hello
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time for your business update well prices have stabilized arto dropping almost five percent on. on the back of a surprise announcement by the international energy agency that sixty million barrels of world would be released from such a. it's all of the time in history. the release of reserves is intended to offset the loss of production from review currently involved in civil war while some opec members warn of possible countermeasures to prop up the world price christine fisk around zero from standard and poor's explains why she thinks the i.a.e.a. has taken the unusual action. i think it's three things it is trying to ensure that when the northern hemisphere is going to have the driving season they will be enough supply now a lot of the opec member countries have said their recent of supply and that is correct but what you need to make sure that prices don't spiral up the second is to ensure that there is
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a soft landing for the economy what they are trying to ensure is that the world economy there's not going to a double dip recession and thirdly there has been a lot of frustration from oil barrels that have been taking out of the market on speculation so like me i saying this listen guys we are going to don't boil in the market so don't try to get prices up because you're going produce money so they should put a barrier to oil prices a cap which should hopefully ensure that the world continues to soft land and recover from the recession. so look at those oil prices lights we just rating of just under ninety one dollars per barrel while brandi's that over one hundred six dollars. and your stocks are low on gas despite a slight afterwards provisional fast g.d.p. figures on the corporate fronts micron technology reported disappointing results for all of us so you. sales will be. and european markets were mixed this trying to
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see narratives early gains as investors confidence in banks was shaken by the suspension of trading in some lenders and easily under pressure from the verb step crisis course was in the right point four percent. and here in russia the markets have rebounded after thursday's sharp morse's both the arch as in my six finished up one and a half and one point six percent respectively let's have a check on some of the individual show moves on the my six majors were among the main gave us accounts from one point seven percent metroliner was low dragged down by metal prices that's just spiked the company has that a net profit to one hundred thirty four million dollars in the first quarter all the year using previous full cross banks were all thoughts was raised in a bank finished lower that sought to be r d's said it's considering buying into the . well russia's biggest social network compact you don't argue is going to hold an initial public offering in new york the company hopes to get the listing complete
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securing twenty twellman to save the company could be worth up to three billion dollars given the high demand for tech stocks contactee has around sixty million users worldwide with those in russia last month russian search engine younger acts successful are listed on the nasdaq raising one point we've been to it's. ok that's all we have time for knowledge or a new lesson was tired from more business stories and more from a website article on slash business.
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innovation cluster in the center of siberia once again has revolutionary ideas for the automotive industry your competitors did some of the infection straight out of software to make free drugs free the building blocks for russia's first nationwide switching network terms going top of. the future. down the fia fishel cation q i phone oh i pod touch from the saps to.

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