if. the powerful credit ratings agencies get a low score from germany and once their influence curbed after they've 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 producers so you stand on. 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 . families aligned show increasing numbers of laser go against or in danger in air passengers in russia by blinding pilots as the land.

this is r t live from moscow with marina josh 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 stop plunge after downgrading portugal's debts to junk germany is at the heart of probably feeling nations but is now questioning whether the bailouts are legal for some economists the current strategy is just maintaining their pain. 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 if you allow the countries to fund themselves for short amount of time 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 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 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 coopt online or here is a very different solution. it's a better solution if germany would lose the door for three year old. economist michael ross explains why the big boys should bow out it's our feet up mom along with more inside an opinion on europe's financial woes. the cash strapped hughes 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 predecessor to deal with the problems and reforms that began under strauss kahn's watch but she's christine says there's still more interest and muckraking than money matters. from violence on the streets of the middle east. to protest 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. then 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 could 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 or low 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 a staring 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 frees out our team. later in the day 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 the toll booths it's not capital things that has nothing to do with couples and couples and 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 and take it off the rebels in violation of the un resolution artie's going to she can take a look at the detail. 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 breached 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 did it say

a forceful regime change many say nato is actions that old 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 the one their radical elements among among those rebels was wild 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 got ahold of them it could be kids it could be criminals but it seems nobody cares as long as it's 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 a stake. and so many lives that has borne their country apart. still have for this

hour of why seeing the why could be deadly for air travelers. pilots of a passenger ally now arriving from istanbul were dazzled by a possible green light that they have propped up by someone on the ground nothing but that some of them out from time before that deadly accident occurs. plus artes closer to meets the seniors say beery is one of the region's oldest cities helps its lonely elderly citizens. a friendship bound for gaza with aid has been stopped in crete it comes as the un is due to report on a raid on a previous humanitarian flotilla by israeli troops in may last year when nine turkish activists died after commandos stormed their vessel the incident continues to drive a wedge between israel and turkey explains. today thursday is the deadline that the

united nations gave itself to submit a report into last may's patella incident in which knowing turkish citizens were killed while trying to break israel's blockade on gaza for the last few days this 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 instate we're grateful 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 for both the israelis and turks to try and on out their differences so we consider nation because most people do understand that if the report is issued with all three consideration it will be much harder for the reconsideration 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 that such illegal claims. reporting there and our news is updated around the clock at r.t. dot com let's take a look at some of the other features you find there now. detained for clapping their hands police violently clamp down in a struggle to stifle peaceful protest in bell rooms. best crackers in the world can do this in sixty minutes shots for traveling i need something to do in sixty seconds the journey just. lives imitating art in mexico where police discover that mexican drug lords are mapping future hackers to help the wonder banks and sure you tagged illegal routes to our website and get the details at or to the.

airliners are add 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 laser shown into the cockpit this year dazzling pilots just when they need all their concentration reports on the police hunt for the whole against behind the potentially lethal lasers. there it becomes clear proof that the dazzle of a laser in the eye can be a major distraction for food bill or christian are now determined i mean. the consequences could be catastrophic if some want to stop get it while flying an aircraft with hundreds of passengers on board and blinding powerless by laser beams has become an increasing musa's in russia over fifty attacks registered since the beginning of the year. the latest incident was that a small school port when the pilots of a tupolev passenger airline a riving from istanbul were does old by popple green light aimed at the aircraft by

someone on the ground just minutes later and not that problem. but i think what but yet it's only a matter of time before that that accident occurs to me we were blinded during landing just one 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 full at 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. 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 was in court of everyone's waiting for new laws there's no excuse for peace an auction on the ground 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 waste from laser allowed and their high tech hooliganism it's been a grouch over fourteen stone. now let's take

a look at some other stories from around the world police have stormed a can a garden in southern malaysia word man armed with a machete held thirty children and teachers captive not of the hostages were injured in a seven hour siege what and when security forces subdue the man his motives are not yet known. a train has had a boss on 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 again man crossing most of the other passengers have been injured the train pushed it more than five hundred metres before coming to a halt. south korea will host the twenty eighteen winter olympics the. two european rivals moving in germany and i've seen friends it's third time lucky for south korea which previously bid to host the games in two thousand and ten and twenty fourteen have more on this now sports board and with andrew.

while next in russia close i will take you to the gateway to siberia. we are in the corgan region which lies south of the mighty euro mountains as dissected by the renowned trans-siberian railway it's a large whence cape has made made it a prime spot russia's food basket giving it a rich every cultural heritage as hard live score gun city one of several areas oldest cities and one which is developing a new wife for its senior citizens as a kind of boy has been discovered. 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 had give senior citizens the love and care that they need 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 train 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 over night 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 or a device company another depression around this family's part 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 doctoring 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 you see on the eve 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 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 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 we still associate it with shame and stigma and it seems that the ideal for living with strangers is not the easiest sell either. one distraction or joint goal in that her mother their arrangement was it would be only for a year or so not to seventy two and has no children no close relatives and she is

deeply concerned her deteriorating health will be a burden for others. and like it here we haven't heard a single fight but who am i for them why should they care for me when they can barely move around i don't want to burden anyone well why not doesn't feel there is a lot to celebrate about being all that it helps her remaining time will be brief she says at least now she has somebody to talk to. 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 it about ageing 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. artsy program the region. well the breeze is up to date here in our city and the business news is

next with yulia. hello and welcome time to get the latest from the world of business russian energy giant gas from is losing european consumers full of creation and significantly reduce gas imports from russia the country aims to replace the gap with its own gas and alternative supplies joins us turn from the oxford institute for energy studies four used the company may lose even more if the foreign policy remains unchanged. what gazprom needs to decide is does it want to sell a smaller amount of gas at a high price or more gas at a low price and the answer at the moment is he wants to hold the price relative to all the oil and sell less gas and that's that's fine that's ok policy but that he's not going to get gas a more important role in europe in fact it's probably going to reduce gases were you could i mean that is a that is a sovereign choice for russia and

a commercial choice for gazprom what i would say is where does goes from see its european market in fifteen twenty years time doesn't see itself selling the same amount of gas as it does today in which case fine continue the way you go on the other hand if you want to sell more gas then i think you will have to adjust its pricing policy. let's have a look at the markets now world bounced back from their losses as investors that shrinking stockpiles and signs of economic recovery in the u.s. lights is not trading at around nine to seven dollars a barrel while the ground is that one hundred fourteen dollars. we want to europe european indices are high on recouping the previous sessions decline with investors encouraged by overnight gains on rule streets and in asia and awaiting interest rate decisions and kryten and to europe. and the us markets are trading strongly in the black tracking gains in the u.s. and asian investors here are also hasn't seen make any big moves so far into the

patient of keep coming data from europe why not have a technique some of the individual share moves in the my six oil majors gaining a bit stronger curds with rosneft up almost two percent spare bonkers that supported by news may see a record net profit in the first half of the here and foreigners gold is also among the main game and so its shares are up one point eight percent this hour. gazprom was considering merging its electricity generating business with another russian energy major i.e.s. holding its a great the joint company will become the country's biggest power producer with an estimated value of at least seven billion dollars. and brushing or to make a group has continued 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 there was also kept pace with the growth the group saw in twenty ten what it's trying to profit boosting the snoozes gal's agreement to assemble full stock in cars at its

wanted north korea which lies a few hundred kilometers east of moscow gas c.e.o. paul anderson says it's part of a three pronged investment part. first we are very happy to have been picked up the conflict manufacturing before going and that will require some investments secondly we are launching a new program some of it is already funded door paid for and then for working on the next generation goes up. good news for the russian film industry else too bias for current to help out one of the country's largest conglomerates system weighs a mass media have a ways here and it's still going to i and j will see its filmmakers subsidiary get millions of dollars pouring across or explains how this could improve russia's 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. and together providing for announcing 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 our engine has a lot of experience with doing this to us and to 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 but with the producers 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 so 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 all of these are parts a part of a bigger goal to reply process film industry to get international investors in both their local productions and attract more funding russia maybe a pork wire from hollywood but that seems to be going all out to give international blockbusters like best one ever run for their money marina call serve up business r.t. . solve time for knowledge journalist and one more business stories and to get more from our website r.t. dot com slash business. the

limited. period.