the problem credit ratings agencies get a low score from germany and once the are influence curb after really put portugal at risk of a second bailout. facing up to europe's sinking feeling the new i.m.f. chief sets out her stall but the media's eyes remain fixed on her predecessors sleaze scandal. the un's findings into last year's fatal gaza aid flotilla rate are due but israel refuses to apologize to turkey for killing nine of its citizens on board. and to leave the light show increasing numbers of laser hole again as are endangering air passengers in russia by blinding pilots as they land.

you watching r t live from moscow with me arena joshie 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 stock plunge after downgrading portugal's debt to junk 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 flag now looks like a push call 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 same sort of financial market response as a greek default we have to remember that the greek public had 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 call really mitigate for that. they're 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 school and this political unrest seems to keep growing and will keep growing with a second bailout of portugal 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 trying to protect their banks and delay the inevitable default they do 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 promise themselves 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 through 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 over the next year so the eventual restructuring the eventual write downs which need to be taken 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 eurozone as we hear economies should quit the current online r.t.d. here is a very different solution. it's a better solution if germany. economist michael ross explains why the big boys should bow out. along with more insight and opinion on europe's financial world's. the cameras strapped good. 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 sesar to deal with the problems and reforms that began under strauss kahn's watch but she's christine says there is still more interest in muckraking then 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 if not the sexiest of news stories but will be 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 left to do with christine lagarde

herself and more to do with the reason why she's here. and what lessons do you think ought to be drawn from the way the u.s. legal system handled this transcon case we could be any reforms in the human relight 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 were resumed the most lagarde did 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 or low income countries the issue of employment. is a critical one the one hundred eighty seven nation organization has already led 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. . in about twenty minutes 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 sell sell sell everything must go in great fire sale these nations are giving up income producing assets they're basically they are tollbooths it's not capital 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 or she's going if she can takes a look at the detail. but you know there was

a discussion and russia says such actions violate the arms embargo that was imposed on the b. 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 no 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 france 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

a forceful regime change many say nato is actions and dad meant to stop the 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 for as 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 is this dispatch apart from the fact that he very clearly breaches the arms embargo that was imposed on the 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 goose 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 civil war that has to take. and so many lives that has for their

country apart. also have for you this hour why seeing the light could be deadly for air travelers pilots of a passenger allied arriving from istanbul were dazzled by paul green lights aimed at the aircraft by someone on the ground what they did nothing was wrong but it's b.s. it's only a matter of time before that deadly accident occurs. plus artes close up team meets the senior off side this new years of siberia as one of the region's oldest cities held its lonely elderly citizens. the un is due to report on the gaza aid flotilla raid by israeli troops in may last year nine activists died when commandos stormed a turkish ship delivering humanitarian supplies to a blockade of palestinians 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 s policy or 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 is radian took your 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 its timbales insistence that tel aviv apologize for its role in the veins but so far israel has refused to do those offering instate 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 foos day and this has been an impetus for both the israelis and took to try and on out the differences we consideration because most people do understand that if the report is issued with all three consideration it will be much harder with every consideration to be made at a later date now it is also why do. i 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 these raids with using excessive force that israel has so far indicated that it is prepared to pay compensation but as long as this doesn't create a place to vent and open it up for food that such illegal claims. are reporting there and our news is updated around the clock at r.t. dot com let's look at some of the other features you'll find there now. detained for clapping their hands police violently clamp down in the struggle to stifle peaceful protest in bell plus. the best crackers in the world can do this in sixty minutes fortunately i need something to do in sixty seconds you're killing your. wife imitating art in mexico where police discover that mexican drug lords are kidnapping computer hackers to help them plunder banks make sure you take the legal routes to our website and get the details matter to dot com.

airliners are they are most vulnerable during 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 lasers show into the cockpit this year dazzling pilots just when they need all their concentration. ports on the police hunt for the whole against behind the potentially lethal lasers . immediately clear proof that the does a laser in beyond can be a major distraction for food bill or christian or not to do it meant shown but the consequences could be catastrophic if someone is targeted while flying an aircraft with hundreds of passengers on board blinding pilots by laser beams has become an increasing uses in russia over fifty attacks registered since the beginning of the year. the latest incident was that the small school when the pilots of a passenger ally in iraq. being from istanbul we're does old by paul paul green

light aimed at the aircraft by someone on the ground just minutes later and now that probably. but i think what but yet it's only a matter of time before that that little accident occurs 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 pilots can land automatically but not all aircraft can land on autopilot and even if they do those in the cockpit 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 collision course of everyone's waiting for new laws there's no excuse for peace and action on the ground or 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 louts and their high tech hooliganism exceed in a grouch over fourteen months. now let's take

a look at some other stories from around the world had a train has hit a bus in a railway crossing in northern india killing at least thirty five people the bus was on its way from a wedding party with about eighty on board when its axle broke as the unmanned crossing most of the other passengers have been injured the train pushed have more of five hundred metres before coming to hold. south korea will host the twenty eighteen winter olympics the city of bids to hear a plan rivals munich and germany and assume france its third time lucky for south korea which previously bid to host the games in two thousand and ten and twenty four team have more on this in our sport bulletin with andrew and next hour. next in russia close up we take you to the gateway to siberia.

and we are and they're corgan region which lies south of the my hero mountains and is distracted by the renowned trance iberian 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 one of several years older cities and one which is developing a new life for its senior citizens as a boy has been discovering. she may be eighty nine but the xander ivana doesn't have too many happy memories to dwell on a loveless childhood or work color to 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 but since i don't have children i needed to work hard at least they would accept me in a retirement home yet her fate too 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 seemed 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 for advice a company an elder prussian around this family's part of the senior adoption program pioneered in dhikr ghana region six years ago the local authorities say it's a win win for all involved senior citizens receiving family care and they're dotting family getting benefit payments in return. a hundred dollars a month may not seem like a lot but in remote russian of villages where jobs are scarce any source of income

is valuable. if you place a sunni or a citizen in a nursing home it costs the local budget between four hundred and five hundred dollars per month but they live with families is down to about one hundred dollars per person the economic effect 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. 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 to shame and stigma and it seems that the ideal flipping with strangers is not the easiest sell either one dysfunction or joint believing that 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. and i could hear we haven't heard a single fight but too much for them why should they care for me when they can barely move around i don't want to burden anyone while saying that 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 talk to. you getting older is one of the biggest fears in the russian society on par with wars over terrorism natural disasters and crime and while in the west people are perhaps of about aging mainly because of the associated health problems here in russia aging is linked to poverty loss of dignity and wellness but the least for these two pensioners is no longer the same old story while to discuss the plight of elderly people in russia and here in the car god region in particular we are now joined by popular come

a glorified local brass that has spent years working for the local administration where you just came back from the united states where you spent two years studying for a masters degree graduation thank you for your program as far as i know the industry or for this that living in the united states is they're well developed the sheer number of nursing homes i think more than thirty thousand across the united states speaks to that in russia there are just about fifteen hundred nursing homes are all around the country and as far as i understand there's also a big difference culturally and socially to how people approach the sort of south check well the difference is huge you're perfectly right that united states assisted living is a kind of business and people viewed it as just another way to be independent during their old age so that they could not feed themselves as a burden to their families to their working kids so that they could be. independent

in the economic sense and medical. well here in. the russian federation it's totally different because there is no business like assisted living and. institutions of this kind are totally on the world or on the federal budget not sure about it it's just that culturally people are very very afraid i'll find themselves in these homes in these kinds of institutions because they do not want to be a burden to the company they do not they want to be with their families and so the feeling of loneliness while being while living in these institutions is really something that i think very much a great time watching that's all they have time for but please tune in stories on the cookout region on our team. and avoid all reporting there and business is next

with. hello and welcome time for your business update europe some bishan to cut carbon emissions could see gas gets into a more prominent role in energy production current campaign us what do you to get even tougher on greenhouse gases than want to fetch a set cut in ten years if that were to happen and gas would 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 carry gas will benefit from carbon reduction in the longer it will depend a little bit whether we can establish the technology of carbon capture for gas. let's have a check on the markets bounced back from earlier losses as investors but shrinking stockpiles the signs of economic recovery in the us might sweetness trading at one

to seven dollars a barrel while branches that one hundred fourteen dollars a barrel. and markets in asia mixed stocks not just seven day winning streak on thursday as you churches tumbled down the government proposed status on nuclear reactors that sparked fears there restarts may be delayed bought ten thousand line on the nikkei held boosting hopes for further games hong kong stocks advanced led by banks and speculation earnings will benefit from china's decision to raise interest rates. european indices are high on thursday recouping the previous sessions declined with investors encouraged by overnight gains on wall street and in asia and are waiting interest rate decisions in britain and europe. and the russian markets opened higher tracking gains in the u.s. and asia investors here are hesitant to make a big moves so if i am into suppression of economic data from europe let's not have

a check on some of the individual show moves on the minds of its oil majors gaining the stronger crude with over one percent is also up supported by news that may see a record net profit in the first half of the year and paul is gorgeous among the main game as it's up over two and a half percent the star. gazprom is considering its electricity generating business with another russian energy major i.e.s. holding it create the choice. company will become the country's biggest power producer with an estimated value of a place seven billion dollars. good news for the russian film industry asked two banks have agreed to help out one of the country's largest conglomerates systema the mass media have a way it's here and its tail was going to i and j will say it's a filmmaking subsidiary get millions of dollars right across or explain how this could improve precious film industry. in the movie world money is king and in

russia there's not much to go around when it comes to films but that's all about to change thanks to intellectual property. grab on to gether are providing financing facility of around forty two forty three million dollars we are taking the film rights as collateral we do this because the market is developing very quickly we are in g. has a lot of experience with doing this it is us and we europe everything this market will develop in the same way the majority of producers in russia are looking for government subsidies or to make deals with t.v. companies industry experts say this could change things around the only problem is not a lot of production companies own the copyright to their films the t.v. channels do the fact russian world studios has such a big library it can use as collateral is unprecedented budgets of both with the beautiful producer should be interested in the audience voted for the films with

money and to make that happen we need to make film production and industry to that we have a turnover of capital. it's a very shaky time for the russian film industry box office revenues are up but the domestic share is going down only six of the sixty nine movies produced locally last year made a profit the establishing a new venture that will be the first in russia to guarantee for everybody. believe will be completed the establishment so these companies from our system of us media have oh no the say this european field won't go but we would but i was for a national. with. going to all these efforts are part of a bigger goal to revive russia's film industry to get international investors involved in local productions and attract more funding russia may be a far cry from hollywood but it seems to be gone all out to give international

blockbusters like this one iran for their money marina call served up business artsy. that wraps up the business bulletin more and it also times.