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the powerful credit ratings agencies get a low score from germany and once the or influence occurred after they put portugal its risk of a second bailout. facing up to europe's sinking feeling the new i am after he sets out her stall but the media's eyes remain fixed on her predecessor sleaze scandal. and the arctic expansion as russia plans to ask the un to redraw borders at the energy rich north pole which four other countries lay claim to. and the un's findings into last year's fatal gaza aid flotilla radar do but israel refuses to apologize to turkey for killing nine of its citizens on board.

what you are going to live from moscow nine am here. germany's finance minister wants to curb the power of the dominant credit rating agencies their verdicts can make or break economies most recently causing a euro stuff plunge after downgrading portugal's death to jog germany is at the heart of propping up failing nations but is now questioning whether the bailouts are legal for some economists the current strategy is just maintaining the pain. the fact now looks like the political will need a second bailout some point in the future and that it could default puts it in the same sort of financial problem sector as greece and it could have a same sort of financial market response as a greek default we have to remember that the greek public have been putting up with this for much longer than the portuguese public have so maybe a year down the line we might be seeing similar process in portugal in lisbon as we're seeing now in greece so we can't really mitigate for that. there's still the

whole problem of political unrest in the central countries such as germany where there is the outrage against the bailouts not just to greece but to countries such as portugal and this political unrest seems to keep growing and will keep growing with a second bailout the alternative is there will be a default in these countries at the moment the real approach just seems to be to lay it for as long as possible it looks as if germany and france are dictating this and they are trying to protect their banks and delay the inevitable default it to allow the countries to fund themselves for short amount of time for a year or two but ultimately these countries are insolvent and they will not be able to point us in selves in the long term so they will need some form of debt relief in some form of debt restructuring so it's better to get to this sooner rather than later as all only increase in terms of both political costs and economic costs. in all these countries is yet to peak and will continue increasing every next year so the eventual restructuring the eventual write downs which need to be taken will just get larger not to mention as we've already spoken about the political costs of continuing these bailouts and the austerity measures. financial

commentators have long suggested that the euro zone's weaker economies should quit the currency on line our teeth here is a very different solution. and it's the best solution if germany would golf with the euro. economist michael ross explains why the big boys should bow out it's on r t dot com along with more insight and opinion on europe's financial woes. the cash strapped giving christine legarde much to think about in her first days in charge of the i.m.f. she told reporters that she's picking up the baton from her previous assert to deal with the problems and reforms that began under strauss kahn's watch but as he's christine freeze out says there's still more interest in the muckraking than money matters. from violence on the streets of the middle east. to protests in north africa to europe. or portugal's credit rating has been

deemed junk. and in greece. where unemployment hovers at about sixteen percent and the debt crisis has sparked anger nearly all of this anger stemming from poverty and failed economic policies in the us as well high unemployment sits atop a mountain of problems like a housing crisis and slow financial growth. this is the world christine legarde inherits as she begins at her new post as managing director of the international monetary fund in her first formal meeting with the press at the i.m.f. headquarters in washington she seemed optimistic in her hopes the international monetary fund is here to serve and to provide services to its hundred and eighty seven members it's not the sexiest of news stories but still the inaugural press conference for the new managing director of the i.m.f.

did garner quite a bit of media attention most likely it had less to do with christine lagarde herself and more to do with the reason why she's here. campbell what lessons do you think ought to be drawn from the way the u.s. legal system handled this case we don't be any reforms in the human rights and human resources policies here do you plan any changes in them in light of the controversy over mr strauss kahn the controversy of course with dominique strauss kahn accused of raping a hotel maid in new york that case now starting to crumble after it turned out the maid had credibility problems but back to the i.m.f. or lagarde will take over then yes you have a couple of issues what worries you the most guarded her best to stay on message we cannot be only driven by the hope to reduce fiscal deficits and organize fiscal consolidation in

a big way whether you look at advanced economies or whether you look at emerging markets all income countries the issue of employment. is a critical one the one hundred eighty seven nation organization has already lent one hundred sixty billion dollars to cash strapped nations many of which have little hope for paying it back. so the real questions are manifested here on the streets of some of the nation suffering the most are accepting aid from the i.m.f. has been presented at times as the only option as austerity measures are now being put into place the questions too are in the dollar and how its value may or may not change under her watch for managing the debt crisis around the world will fall at the top of her agenda as the rest of the world watches with hope first ability in an unstable world in washington christine for south r.t.

and later today the kaiser report takes on the euro countries who are selling the family silver to stay afloat. we're seeing the introduction of neo feudalism into europe as we've said all along cells cells everything must go in great fire sale these nations are giving up income producing assets they're basically they their tollbooths it's not capital of things that has nothing to do with capitalism couples are going first competition if you're not allowed to compete because the state is orchestrating takeovers from foreign banks of your assets that's called an occupation. diplomats from russia and france have reportedly clashed over the libyan crisis at a closed door meeting of the un security council it's thought moscow lambasted the french decision to arm the and take it off the rebels in violation of the un

resolution artist vanished account takes a look at details. but you know there there was a discussion and russia says such actions violate the arms embargo that was imposed on libya and the weapons supplies also breach the un mandate that was given to establish a no fly zone and protect the libyan civilians the u.n. authorization was given in the middle of march and since then nato bombings have killed scores of libyan civilians undermining the goal of the operation speaking of goals western powers have their logic of understanding the goals of the operation they say in order to protect the civilians they need to get rid of gadhafi in order to get rid of gadhafi they need to weaken his strongholds which means intense bombing of the country and that's what the forces are now actively engaged in but by all means alone they say will not bring it desirable and to the conflict which is ousting khadafi so there needs to be action on the ground but the u.n. resolution explicitly says no foreign troops on the ground in any form and that's why they arm the rebels according to the french for example but critics say that

logical change takes us very far from the initial goal stated in the u.n. resolution which was to stop the massacre and nowhere in that resolution that is say a forceful regime change many say nato is actions that were meant to stop a massacre have brought about a lot of destruction not to mention that it's a direct and now a long lasting involvement in a civil war france was the first to acknowledge weapons supplies to the rebels in libya we're talking about rocket launchers assault rifles machine guns and anti-tank missiles there are several aspects that analysts point out in france in this dispatch apart from the fact that he very clearly breaches the arms embargo that was imposed on libya one their radical elements among among those rebels while and there are unlikely to show mercy for their opponents and those arms supplies most certainly inflame the situation even more and the way it was done the weapons were parachuted from planes who knows who got hold of them it could be kids it could be criminals but it seems nobody cares as long as the rebellion and that's the phrase used by the french as the reasoning behind the airlift to boost the

rebellion but many libyans now say the last thing they want is a boost to the to the civil war that has to take. and so many lives that has torn their country apart. i'll still have for you this hour a why seeing the light could be deadly for air travelers but passenger planes come under increasing attack from laser hooligans who are whining pilots with powerful beams of light as they land. close a team meets the seniors as one of the region's oldest cities helps and it's a lonely elderly citizens. discussions over who owns the territory surrounding the north pole are coming to a point was russia planning to ask the u.n. to look at art to borders its broad the request forward by two years as for other countries i am getting access to the arctic's natural riches. explains what the rush is all about. striking gold in the cold yet another russian scientific expedition is making its way to the arctic ocean. will spend sixty days gathering

evidence like could see russia significantly expand its territory. this evidence will go to show that russia should be expanded by one point two million square kilometers that's ten percent of the country's current area at the moment russia's arctic area of responsibility is a sector stretching from the colo peninsula to the bering strait but it's what lies beneath the ice that's the big prize here if russia can prove that the ocean floor is part of its continental shelf it will be getting much more than just new territory according to estimates the arctic seabed holds nineteen billion barrels of oil a vast treasure trove even for russia. that's basically twenty. or so says production is what this means for this untapped reserves of natural resources is tempting to all states with arctic territory russia norway denmark the

united states and canada are all staking claims and all five are locked in a tight race to gather evidence in support as some scientists warn that global warming could leave the region ice free in less than twenty years russia originally planned to file its claim with the united nations by twenty fourteen moving the deadline up by two hears is a clear cut sigh the race is on and it's time to flex some arctic muscle. are to scrap. all this cover more of our special reports on the arctic on our amelia launched sister channel r.t.d. it's available on line with breathtaking pictures and analysis of the icy waters in the arctic sea grasses r t v dot r it's on the dot com. or as dear to report on last may's gaza aid flotilla raid by israeli troops nine activists. when commandos stormed a turkish ship delivering humanitarian supplies to blockade of palestinians the

scheduled release comes as more aid vessels try and reach the arab territory but last year's incident continues to drive a wedge between israel and turkey as polis leader explains. today thursday is the deadline that the united nations gave itself to submit a report into last may's patella incident in which nine turkish citizens were killed while trying to break israel's blockade on gaza for the last few days as radiant turkish citizens have been meeting around the clock in new york to try and reach some kind of formula that is acceptable to both sides at the heart of the dispute is istanbul's insistence that tel aviv apologize for its role in events but so far israel has refused to do those offering in state with great for the loss of life now the head of the commission jeffrey palmer has said regardless of whether or not both sides are able to reach some kind of quiet mutual agreement he is issuing that report today tuesday and this has been an impetus to both the israelis and tokes to try and on out their differences for reconsideration because most

people do understand that if the report is issued with we can still be ation it will be much harder for the three consideration to be made at a later date now it is also widely understood that the report is likely to uphold israel's illegal right to impose a naval blockade on gaza but at the same time it is likely to charge the israelis with using excessive force now israel has so far indicated that it is prepared to pay compensation but as long as this doesn't create a precedent and open it up for food such illegal claims. we are reporting there and our news is updated around the clock at r.t. dot com let's look at some of the other teachers why they're now. detained for clapping their hands police violently clamp down in the struggle to stifle peaceful protest in bell rooms last. best crackers in the world can do this in sixty minutes fortunately some good success if you're just. life imitating art

in mexico where police discover that mexican drug lords are kidnapping computer hackers to help them plunder bags make sure you take the legal route to our web site and get the details. better to dot com. airliners are add their most vulnerable during a takeoff and landing and now there is an increasing threat from the ground from a beam of light more than fifty planes in russia have had laser shown into the cockpit this year dazzling piles just when they need all their concentration. reports on the police hunt for the whole against behind a potentially lethal lasers. already in the clear proof that the does a laser in beyond can be a major distraction for food bill or christian or not meant and. the consequences could be catastrophic if someone is stronger to while flying an aircraft with hundreds of passengers on board and blinding pilots by laser beams has become an

increasing new citizen brush over fifty attacks registered since the beginning of the year. the latest incident was that the small port when the pilots of a tupolev passenger airline a riving from istanbul were dazzled by possible green lights aimed at the aircraft by someone on the ground just minutes later and now that problem. but nothing but but yet it's only a matter of time before that that little accident occurs to me we were going to during landing just a hundred meters above the ground when we were only a kilometer away from the runway as a result we were in danger of losing control the crew was dazzled in a catastrophe could have happened. in the worst case scenario harmless can land automatically but not full aircraft can land on autopilot and even if they do those in the cold feet need to remain in control and be able to see. the effect

of a laser beam on a pilot can be compared to that of lightning a blind you. potentially lethal laser guns imported from china can be bought in russia for as little as a hundred dollars firing a laser beam as far as five kilometers they can burn through paper and even plastic . in the u.s. sales of such devices are banned russian legislators are also considering outlawing them and toughening punishment for this offense though some are shining a spotlight on the police calling for more action the question is in court everyone's waiting for new laws so there's no excuse for police and action on the grounds of our current legislation is good enough is allows for the arrest and imprisonment of such fools for up to ten years in prison as of now there has been only one arrest in russia for intentionally targeting an aircraft with

a laser with this suspect still under investigation attempting to down a plane by other means would be classed as terrorism public concern in russia is rising about the potentially equally serious risk from laser lots and their high tech hooliganism exude in a great show for our team. next in russia close that we take here to the gateway to siberia. and we are in the koran region which lies south of the my eighty year old mountains at is dissected by the renowned tranter beery railway its lush landscape has made it a prime spot for russia's food basket giving it a rich agricultural heritage at its heart lies corgan city a lot of siberia's oldest cities and one of which is developing a new life for its senior citizens as exxon boy has been discovering. according to

the last census people of retirement age at the fastest growing demographic here in russia and while in the west old age is often seen as a time to indulge in your hobbies to travel spend more time with your loved ones here in russia retirement is often perceived as the. loneliest and in economic terms the least secure a part of life well here in the core gone region the local authorities have come up with some innovative ways to on the one hand decrease the budgetary burden associated with providing for the elderly population and on the other hand give senior citizens the love and care that they need here is our report. she may be eighty nine but the xander ivana doesn't have too many happy memories to dwell on a loveless childhood a work colored youth a hard working adult life at twenty five she married an older man and devoted her

time to caring for him they do have children so she always knew eventually she'd be alone most people used to ask me why i worked so much they would say you don't have kids why do you need money and i would respond if i had kids they'd help me when i'm old and since i don't have children i needed to work hard at least they would accept me in a retirement home yet her faith you could turn she could never have expected when alexander could no longer care for herself and was about to move into a nursing home a local family offered to adopt her overnight she received two grown up kids and a granddaughter who seem to need her just as much as she needed them my mother passed away and we just couldn't come to terms with it we were really longing to how grandmother in the house her advice accompany another depression around this family support of the senior adoption program pioneered in the qur'an region six years ago the local authorities say it's

a win win for all. involved senior citizens receiving family care and their adopted family getting benefit payments in return. one hundred dollars a month may not seem like a lot but in remote russian villages where jobs are scarce any source of income is valuable yes they're on those people who places senior citizen in a nursing home it costs the local budget between four hundred and five hundred dollars per month but they live with homeless is down to about one hundred dollars per person they cannot make a fact is obvious but the most important thing is that elderly people enjoy the comforts of family life yet despite its apparent all round appeal the program is still small involving only around fifty passion and there is a cultural reason for it traditionally in russia elder care has been seen as a responsibility of family members being placed in a nursing home with still associated with shame and stigma and it seems that the idea of living with strangers is not the easiest sell either.

one dispassion or joint goal in that and her mother their arrangement was it would be only for a year or so not be seventy two and has no children no close relatives and she's deeply concerned her deteriorating health will be a burden for others. like it here we haven't heard a single fight but for them why should they care for me when they can barely move around i don't want to burden anyone. not doesn't feel there is a lot to celebrate about being all that helps her remaining time will be brief she says at least now she has somebody to to talk. getting older is one of the biggest fears in the russian society on a par with wars over terrorism natural disasters and crime and while in the west people are perhaps if about aging mainly because of the associated health problems

here in russia aging is linked to poverty loss of dignity and more than this. but at least for these two pensioners it's no longer the same old story. orat c. program the region. and now for the business news was usually a stay with us. hello and a very warm welcome here to bring you all the latest on the world of commerce and finance and europe some bishops to cut carbon emissions could see gas given a more prominent role in energy production green complain as the huge to get even tougher on greenhouse gases and want to thirty percent cut in ten years if that happens their gas will be well placed. easier way of doing it is to switch from coal and to some extent oil towards gas so in general gas will benefit from at least at least for this to create gas will benefit from carbon reduction in

the longer it will depend a little bit on whether we can establish the technology of carbon capture forgot. to check on the markets now oil prices bounce back from early losses investors the way to release strong us energy department which show that the country's current stockpiles dropped two and a half million barrels last week and in asian markets are up this hour the nikkei is flat your churches are the biggest decliners. power plants which have been offline since march may not restart the summer meanwhile hank saying is so high as banks are the topic in here that after china lifted its benchmark and lending rate by the point. and moscow's exchanges kickoff around one else time for the close in the right on wednesday because that you see on the screen of wednesday's closure the losses were mainly driven by banking and energy stocks. gazprom is

considering marching at its electricity generating business with another russian energy major i.e.s. holding it to create the joint company will become the country's biggest power producer with an estimated value of a cliff seven billion dollars. and market watchers expect the correction on the russian markets to continue throughout the day it could make a direct says investors will soon be back to russia strong fundamentals. maybe you will see the conclusion of this correction but i think it's the general picture for july or at least for the coming two or three weeks of july moves more or less fine so russia mocker story although it's really interesting july inflation was only a point two percent that's actually the best actual numbly the last ten years then budget deficit will be probably less than one percent of the globe flow decreases dramatically so moch a picture of russia looks extremely well. russian automakers gal's kerberos continue to put the financial crisis behind it it's increased sales twenty five

percent year on year in the first five months of twenty eleven results have kept pace with the growth the croup saw in twenty ten when it returned to profits c.e.o. bill understands the first sony utilization program helped recoup protection most true crisis. this is a voice your business. had not come back to was this would have been very difficult so the combination of caused wall to avoid your help those with oswald your we could up there been there and it's going back to our customers with customers trust our products that wraps up the business both and join me in less than one us time for business stories here on archie and get more news from our website r.t. dot com slash business. if. you.

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i am a. female athlete. download the official publication to go on the phone or my pod touch from the choose our story. jaunty life on the go. video on demand atienza mine comes an r.s.s. feeds now in the palm of your. question on the t. dot com. twenty years ago.