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the credit ratings agencies get a low score from germany it was the influence. of facing up to europe's sinking feeling the new i.m.f. chief. but the media's eyes remained fixed on her sleazy scandal. but israel refuses fuses excuse me to apologize to turkey for killing and nine of its citizens on board. lethal light show increasing. by blinding pilots.

a very warm welcome to you this is the life from moscow i'm showing germany's finance minister wants to cut the power of the dominant credit rating agencies that can make gold break economies smoked recently causing a euro stock plunge off the downgrading portugal's debt to junk germany is at the heart of propping up failing nations meantime but is now questioning whether the bailouts are legal but some economists the current strategy suggest 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 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. 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 delay 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 a short amount of time a year or two but ultimately these countries are insolvent and they will not be able to point to some 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 down 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 or financial commentators have long suggested that the eurozone as a weaker economies should simply quit the currency online r.t. here is a very different solution. it's a better solution if germany. economist michael ross explains why the big boys should bow out to r.t. dot com along with more insight and opinion on europe's financial woes. the cash strapped. e.u. is 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 artie's christine says there's a still more interested in the muckraking rather than money matters. was 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 and 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 real life 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 let me ask you about a couple of issues what worries you the most la garde 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 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 next hour here on out so you the kaiser report takes on the euro countries who are selling the family silver just to stay afloat. in 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 they're tollbooths right it's not capital of things that has nothing to do with capitalism capitalism 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. because reporters next hour here nazi nato's actions in libya are cynical and

costing human lives the russian foreign minister put it in an interview with russian state television but let's find out what all sort of a left off had to say happy to all of our joins us live in moscow a pizza ha it's interesting timing isn't it with lavrov due in washington next week i would have to be have to say. well i suppose with rain here in the russian capital the russian foreign minister has been pouring scorn over what he sees as a cynical. development as cynical developments in the ongoing military campaign in libya and the ongoing situation there now he made reference to the. the bombing campaign in libya is currently by nato has currently gone on longer than the bombing campaign against by the same organization against certain parts of the former yugoslavia. nato is bombing libya longer that it was bombing yugoslavia several years ago and there is no end in sight it's

obvious that politics is a cynical matter we hear from the western capitals that the bombing should go on until gadhafi backs off but the human cost of these political statements is very high. so foreign minister lavrov didn't end there talking about libya he also went on to discuss the relationship between russia and the united kingdom saying that despite reports coming out of the u.k. had suggested that the that the death of alexander litvinenko the former russian security russian security officer in two thousand and six that day hadn't become a stumbling block when it came to visa free travel between the two countries he said mr lavrov said that his relate as far as his relationship went with downing street that that wasn't an issue at the moment and that the visa free regime was

going with discussions as it goes right now now it wasn't just there where he ended he also went on in what was essentially a triple header for the foreign minister to talk about the proposed nato anti-missile defense shield to be built in east. in europe no mr love rove said should be consulted on this and involved in. the creation of this missile defense shield based in eastern europe that it would do great great turns to get rid of. get rid of a. cold war atmosphere in the if russia could be involved and they could work towards not just creating this missile defense shield but also working towards relationships between nato and russia of course last november in lisbon at the russian nato summit. that we will try and work together on a joint missile program and then just. said no you know what we're going to work

with you on that so interesting developments and. live in moscow thanks. still ahead for you at this hour on our seeing the light could be deadly for travelers. pilots some of. ally now arriving from istanbul were dazzled by paul pulled greenlight aimed at the aircraft by someone on the ground believe nothing was wrong but it's only a matter of time before that deadly accident occurs. close up to. siberia as one of the region's oldest cities helps its lonely elderly citizens. a french ship bound for gaza with 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 died after commandos stormed the incident continues to drive

a wedge between israel and turkey. today thursday is the deadline that the united nations gave itself to submit to a course 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 israeli and 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 its timbales insistence that tel aviv apologize for its role in the bins but so far israel has refused to do those offering instate are 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 fears day and this has been an impetus for both the israelis and turks to try and iron 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 that 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. are right that our news is updated around the clock at r.t. dot com let's look at some of the other features you'll find that right. detained for clapping hands police are violently clamped down in a struggle to stifle peaceful protests in the bella groups plus. the best crackers in the world can do this in sixty minutes fortunately i need something to do in sixty seconds just life's imitating art in the mexico where police discover that mexican drug lords are kidnapping computer hackers to help them plunder banks

make sure you take the legal route to our website get the details at r.t. dot com. they record patiala now here in moscow airliners are at their most vulnerable during takeoff and landing and now there's an increasing threat from the ground with a b. . of light more than fifty planes in russia have had a laser shown into the cockpit this year startling pilots just when they need all their concentration. and our reports on the police hunt for the hooligans behind a potentially lethal laces. there it becomes clear proof that the dazzle of a laser in the eye can be a major distraction for food bill or christian or a knowledge of mount. 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 new says in russia with over fifty attacks registered since the beginning of the year the latest incident was that

this most important one the pilots of a tupolev passenger ally now arriving from istanbul were does old by paul pull green light 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 accident occurs to me we were going to 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 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 it blinds you potentially lethal laser

guns imported from china can be bought in russia for as little as one 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 acquittals in court everyone's waiting for new laws so there's no excuse for police and action on the ground our current legislation is good enough is allows for the arrest and imprisonment of such foods 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 allowed and their high tech hooliganism it sit in a grouch over our team more. and more suspect lights in the sky in fifteen minutes when our team talks to a leading russian astronomer to ask if u.f.o.'s that really are out there. why do you feel they detected approximately one thousand unusual phenomena the result only two of which remained unexplained to this day the rest are either manmade or natural and some of them are amazing you would not believe me if i told you about some of the things that we felt the world because people didn't know such things could happen what with the airplanes abandoned by my that flew on for days or with a missile was wont to detected by pass to be a passenger jet but a mere two meters there is a joke we have the fact that extra terrestrials are not contacting us proves that they exist and they're smart. why not it's got some

other world news and pray for you this hour police have stormed a kindergarten in southern malaysia where a man armed with a machete held a thirteen children and teachers captive none of the hostages were injured in the seven hour siege which ended when security forces are subdued by a man whose motives are not yet known. a train has a railway crossing in northern india killing at least thirty five people. on its way from a wedding party with about eighty when it's broke to the crossing most of the other passengers have been injured the train pushed it for more than five hundred meters before coming to a halt. korea will host the two thousand and eighteen winter olympics. european rival munich germany and france. lucky for south korea which previously been to host the games in two thousand and ten and two thousand and fourteen. with andrew. well the next. we

take you to the gateway to siberia. we are in the region which lies south of my two year old mountains by the renowned siberian railway it's. made of a prime spot for russia's food giving it a cultural heritage. city one of siberia's oldest cities and one which is developing a new life for senior citizens on a bike has been discovered. according to the people of retirement age. and while in the west old age is often seen as a time to. spend more time with your loved ones here in russia retirement is

often perceived as. lonely as and any kind of make believe. well here in the. local authorities have come up with some innovative ways to undergo. one has decreased 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 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 for advice a company an elder prussian 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. if you place a sunni or 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 pounds 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 associated with shimon stigma and it seems that the ideal flipping with strangers is not the easiest sell are either one dysfunctional 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. like it here we haven't heard a single fight but to a mother 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. 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 if about ageing mainly because of the associated health problems here in russia aging is linked to poverty loss of dignity and war illness. but that least for these two pensioners it's no longer the same old story it's not going to orate see the region. of the business after a short break. pillows

on the. little pallet the international fashion for us to do takes place in prose on july ninth and tenth. the best living collections by russian designers in the most beautiful virgin city of central russia. this is a good it's a little unfair children fashion show slogans like to presiding over the festive. fashion festival. this is. however one welcome time for your business update russian energy giant gazprom was losing european consumers bulgaria houseful of creation significant for reduced gas impulse from russian country aims to replace the gas what its own gas sound alternative supplies don't understand from the orcs but is huge for energy studies

believes the company may lose even more if the price falls 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 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 for all of us i mean that is a that is a sovereign choice for russia and a commercial choice for gas price what i would say is where does gazprom 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 it wants to sell more gas then i think it will have to adjust its pricing policy. gas problem will merge it's tricity generating business with another russian energy major. holding by year end the joint company will have

become the country's biggest power producer with an estimated value of about seven billion dollars the march companies are also considering an i.p.o. meanwhile the federal monopoly service calls the march unwelcome hasn't yet made a decision to investigate. time to have a check on the markets oil back on their losses investors drinking stockpiles and signs of economic recovery in the us light switches trading at around ninety seven dollars per barrel while trenton's at one hundred fourteen dollars per barrel. of european indices the high on thursday we're coping the permit sessions declined for the investors encouraged by overnight gains on wall street and in asia they're watching interest rate decisions in britain and europe. and the russian markets are trading strongly in the black tracking games in the u.s. and asian investors here are hesitant to make any big moves so far in the spatial

economic data from the europe. is good news for the russian film industry house to buying so agree to help out one of the country's largest conglomerates system lays the mass media heavyweight here and is still. in jail will see its filmmaker making subsidiary get millions of dollars were the calls for explains how this could improve brushless 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. together. for announcing the facility of 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 injury has a lot of experience with doing this to 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 but we produce it 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 mess dictionary is going down only six of the sixty nine produced locally last year made the profits all the separate part of a bigger goal to reply process film industry to get international investors in both their local productions and attract more funding.