it's.

the powerful credit ratings agencies. and influence. a sinking feeling. chief. for the media. but israel refuses to apologize for killing nine of its citizens on board. the lethal light show increasing numbers of allays a. worldwide

news. germany's finance minister wants to curb the power of the dominant credit rating agencies that can make or break economies most recently causing a euro stock. downgrading portugal's debt to junk germany is at the heart of propping up failing nations but it's now questioning whether the bailouts are legal some economists. is just maintaining the pain. the flag now looks like portugal will need a second bailout some point in the future and that it could default puts it in the same sort of financial problem as greece and it could have sensible 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 can't 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 portugal and this political unrest seems to keep growing and will keep growing with a second bailout 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 it to 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 right down to need to be taken to just get larger not to mention as we've already spoken about the political

costs of continuing these bailouts and the austerity measures while our financial commentators have long suggested that the euro zone's weak economies should quit the currency online r.t. here's a very different solution. it's a better solution if germany. economist michael moore asked explains why the big boys should bow out so r.t. dot com along with more insight and opinion on europe's financial well. the cash strapped e.u. is giving chris. god much to think about and stays 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 on reforms that began under strauss khan's watch but artie's christine says there's still more interest in the muckraking than money matters. was from violence on the streets of the middle east rather than. 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 current 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 let me ask you about 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 lower 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 our city. and later this hour

here on our kaiser report takes on the euro countries who are selling the family silver to stay afloat. 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 they're tollbooths right it's not capital things that has nothing to do with capitalism capitalism in the 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. eight minutes past the hour here in moscow nato's actions in libya are cynical costing human lives that's how russia's foreign minister put it in an interview with russian state television let's find out what else i had to say he. has more

details from the heart of the russian capital. i suppose with rain here in the russian capital sort of the russian foreign minister has been pouring scorn over what he sees as a cynical. development is cynical developments in the ongoing military campaign in libya and the ongoing situation there now he made reference to the. it's the bombing campaign in libya is currently by nato is currently going 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. i miss the laughter of went on to talk about the relationship between russia and the united kingdom now in recent times we have seen that relationship souring the proposed visa free regime between the two states could be put in jeopardy due to some reports coming out of the united kingdom that suggest that the the investigation into the death of former russian security officer alexander litvinenko was going to be a major stumbling block. went on to say that as far as his negotiations as far as his talks with downing street went to the alexander litvinenko question it wasn't a major issue as far as it came to the visa regime between russia and the united kingdom i 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 air

anti-missile defense shield to be built eastern europe no mr lover of said there should russia be consulted on this and involved in. the creation of this anti-missile defense shield based in eastern europe that it would do great great turns to get rid of a cold war atmosphere in the air. if you put all of our reporting right there well still ahead for you this hour here on r t why seeing the light could be deadly for air travelers pilots of a passenger airliner arriving from istanbul were there as old by popple green light aimed at the aircraft by someone on the ground lucky if nothing was wrong but to be at its own limits from the time before that accident occurs. plus how to use a close up teammates the seniors of siberia as one of the region's oldest cities helps its lonely elderly citizens.

a french ship bound for gaza with aid has been stopped in crete it comes as the un is due to report on an israeli raid of a previous for its ally in may last year that was when nine turkish activists died after commandos stormed the 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 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 missing 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 events 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 prior mutual agreement he

is issuing death reported today fears day and this has been an impetus for both the israelis and turks to try and find out their differences for reconsideration because most people do understand that if the report is issued without we consider it will be much harder for the reconsideration to be made at a later date now it is also widely under. good that the report is likely to uphold israel's illegal weight 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 place to vent and open it up for food that such illegal claims. paula slater reporting that well our news here on our team is updated around the clock at r.t. dot com let's look at some of the other features you'll find there right now detained for clapping of hands police are violently clamp down in a struggle to stifle peaceful protests in belo roofs plus. the best crackers in the

world can do this in sixty minutes from fortunately i need something to do in sixty seconds you're killing life 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 route to our website will be house waiting for you at our two dot com. airlines are most vulnerable during takeoff and landing and now there's an increasing threat from the ground with a beam of light more than fifty planes in russia have had lasers shown into the cockpit this year pilots just when they need all their concentration. reports on the police hunt for the hooligans behind the potentially lethal lasers i already have become clear proof that the dazzle of a laser in the eye can be a major distraction for food bill or christian right now do it mount and. the consequences could be catastrophic if someone is stronger to while flying an

aircraft with hundreds of passengers on board and blinding powerless by laser beams has become an increasing use is an option 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 done as old by a possible 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 deadly 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 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 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 or 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 louts and their high tech hooliganism it's in a grouch over our team. now just after quarter past the hour here in moscow if aliens ever visit us they may just blend in by being similar to us two arms two legs and the same missed skin time so says a leading russian astronomer in the next hour here on r.t. . is that there is a joke we have the fact that extra terrestrials are not contacting us proves that they exist and they're smart in my opinion life and intelligence should they exist elsewhere at all should be highly human like the will because fundamental of those i would personally the including the fundamental laws of evolution but of living

organisms should look like the ones we encounter on earth. without a let's get to some other world news for you in brief this hour and police have stormed a kindergarten in southern malaysia where a man armed with a machete held thirty children and teachers captive one of the hostages were injured in the seven hour siege which ended when security forces reportedly shot tear gas in order to subdue him he's now in custody but his motives are not yet. understood. a train has hit a bus on a railway crossing in northern india killing at least thirty five people and the bus was on its way from a wedding party with about eighty board when it broke at the crossing most of the other passengers have been injured the train pushed it more than five hundred meters before coming to a halt. will host the two thousand and eighteen a winter olympics. two european rivals munich in germany and i see in france

it's third time lucky for south korea which previously bid to host the games in two thousand and ten two thousand and fourteen will have more of that in our sports business in the next. well the next. week take you to the gateway into siberia. this time we're in the region which lies south of the mighty ural mountains by the renowned trans-siberian railway its lush landscape has made it a prime spot for russia's food giving it a rich agricultural. city one of siberia's oldest cities and one which is developing a new life for its senior citizens. because i've been finding out. according

to the last census people of retirement age there's a 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. lonely as any kind of make believe think you are a part of why well here in the 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 she may be eighty nine but the xander avon and 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 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 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 her grandmother in the house her advice accompany an elder process around this family's part of the senior adoption program pioneered in that regard the 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. 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. a few 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 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 we still associated to shame and stigma and it seems that the ideal flipping with strangers is not these are either.

one dispassion or join girl in that and her mother the 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 between my 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 but 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 worse over terrorism natural disasters and crime and while in the west people are apprehensive 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. orat see program the region. or a recap of our top stories for me in just a few minutes but for now that's a crossover with. us from the world. ever well welcome to the business program russian energy giant gazprom is losing european consumers borg area followed gracious and significantly reduced gas impulse from russia the country aims to replace the gap with his own gas and alternative supplies turned on stern from the oxford institute for energy starters believes the company may lose even more if its price 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 and sell less gas and that's just fine that's ok policy but that is not going to get gas a more important role in europe in fact it's probably going to reduce gas israel in europe 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 gas prom 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. russian gas giant gazprom will march its electricity generating business with another russian energy major i.e.s. holding by the euro and the joint company will become the country's biggest power producer with an estimated value of about seven billion dollars the mortgage companies are also considering an initial public offering meanwhile the federal monopoly service calls the merger as unwelcome and hasn't yet made

a decision to investigate. so i have a check on the markets oil bounced back from early losses investors trunking stock piles and signs of economic recovery in the us light sweet is trading at around ninety seven dollars a barrel while branches that one hundred fourteen points. european indices the higher the bank of england has kept its interest rates unchanged worries about the economy's recovery out with concerns about above target inflation no changes to little surprise the markets as you can see the focus now is on the e.c.b. which is to announce its entrance phrase decision about ten minutes. ago investors global it keeping an eye on the post music press conference for fresh clues as to its handling of the month right. all see are the result that crisis that is the patient is felt here throughout russia where the markets are trading strong will apply pressure against the us. all right as

good news of the russian thought ministry as two banks have agreed to help out one of the country's largest conglomerates systemise must meet a heavyweight here and it still was and i n g will see its filmmaking subsidiary get millions of dollars but in the course strikes planes 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. grab on to gether providing a 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 by n.g.o.s a lot of experience with doing this it is us really 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 budget proposal with the 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 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 albeit separate apart over big. the 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 that seems to be gone all out to give international

blockbusters like this one iran for their money marina call serve up business r.t. ok that's all the business so that's all you're after days no business news unless one was signed with my colleague current account. wealthy british style.