joyce people chose the home of villas the gateway to the grand imperial truly the torch was pushed coromandel you can go with a chill it was literature sedated to go and. read this in the kennel was her child to retreat. e.u. leaders a baker in brussels on how to fund continuing bailouts as a debt epidemic of nipping me in spain because the strains in us on its last legs. and international media mogul and top politician come on a huge public scrutiny we examine whether they'll be able to survive the fallout. from a strong public trust. the last remaining u.n. indicted war crimes suspect one hundred is awaiting extradition to the hague a three pack for the serbia belgrade hopes the move will bring the country closer to the membership.

on air and online live from moscow you're watching r.t. e.u. leaders have gathered in brussels for an emergency summit on how to come up with a cash promised for a second bailout to greece heads of state are centering considering a new bank tax to pay roll that and stave off a new and default italy and spain down showing the first symptoms of the debt epidemic fresh tensions between the attendees squabbles have already broken out germany pessimistic about the summit in france calling for block wide unity in this country mature for its part in this plan to use future plans are through it. the single currency will fit within two years warner lists for the big european laws because there's a really. serious threat now that the euro might surface integrate.

the euro zone might collapse it's already too late to save the greek economy according to a majority of leading economists and experts called boyle see greece is really going down the drain completely the depth is escalating the deficit is starting totally out of control and i could give you the analogy but they were like somebody with a gambling problem or a drink. but. it's a cultural thing so now we find ourselves with someone with a drink problem but with a huge debt as well and the problem will only ever get worse until you actually confront reality and say look they don't fit in the or as not going to fit together with germany in one single of your politicians the richest states have been able to refuse to foot the bill well i don't think i've ever met anybody in the united kingdom in london market stations that actually wants to contribute to the buyout

countries like greece and italy and contribute to the continued existence of a hero because i think it's a stupid idea to start with and it's just chucking money down the drain just pulling the plug on those states could trigger a chain reaction greece believe investors can avoid quitting the euro that in turn will spark the exits of oil and portugal even italy and spain they say ireland the boston everybody said ok the bug is going to stop there over the last couple of weeks we saw that also. spain over germany italy with germany starting to go all europe's top banks hold billions of euro greek and portuguese did if those countries go bust they could lose that money we might see scenarios like a bank run that means that people will run to the bank in order to withdraw their deposits because they believed. not the bank might not be able to pay them the

euros facing an existential crisis the german chancellor angela merkel but the head of your biggest economy. look forward to compromise the process. that's. across the globe not indeed there are problems at the time those at the moment the most visible the most obvious is the eurozone problems but on the other side of the atlantic you have the u.s. economy rather than the session with showing some very weak economic figures and suffering as well e.u. leaders could work for the single currency here at the thought that if they fail to do a deal the whole british. exports public plan it will take over control. see brussels well to discuss the financial woes gripping the e.u. when joined by professor. in the parlance of political science at paris western university thank you for joining us here in the studio. has made no attempt to hide

their skepticism over this meeting and there's only really cannot a joint agreement we have with france under pressure are we seeing cracks forming among either ship over all this and then the cracks are always been there and there is an attempt now to paper over the cracks basically the germans are reluctant to involve private banks whereas the french. press french president of course is more in favor of involving the private banks service but i think everyone has to make an effort because the crisis is very serious in part because when the euro was created . a rush towards a common currency with very different economies. they all want to save the euro although the euro is endangered and the i.m.f. said recently that europe is now going about it the right way so yes there are cracks and now it's an attempt to paper over the cracks so are they trying to save some. that cannot be saved essentially they're trying to save the euro. stickle to

say now if the euro can be saved because there's a real danger of greece defaulting and if greece defaulted which is something we've got the greek government doesn't want and the other european partners you not want but i mean from an economic point of view it would make sense because the greeks could devalue we are trying to see the euro and maybe maybe confront the markets up to a certain point what about this idea of trying to levy a tax on banks and rein in the credit ratings agencies and things like that i mean half the hole will they go to try and say here well you know we have to distinguish between rhetoric and reality because at the g. twenty two years ago the french president said that he would reform the financial system of the well and of course nothing happened so as an idea after all the banks are partly responsible for this crisis for example the greeks were advised by

american banks when the former government was cheating about the size of the debt so they should take the part of the responsibility and they should pay for the where of their and the stakes the question is now will not political authorities have the power to confront the markets even minimally because what it proposing now is a minimal contribution by the banks if the but the contribution is voluntary i don't think it in what we talk about taking responsibility here historically speaking many would say that. germany after world war two really countries waived their responsibilities to pay reparations and germany should say now ok we'll forget you all debts that well i think there's a point there because germany was saved mostly by the united states after the first world war when german debts were cancelled but also after the second world war germany developed. there was that big. economic miracle in part because of american

men because german debts were cancelled so if greek pets past but partially cancel that would be something good and germany should contribute not only in the name of belated reparations war they have it the nazis created in greece during the second world war but also for good economic reasons and germany benefited from debt cancellation in the past so now maybe germany because of its economic situation could make a slight effort and pencil not maybe the whole debt but part of the greek debt now this is all the politics and economics of course what about the person on the street as it were how are they seeing all this i mean they be quite resentful about what's going on and possibly a rise of nationalism because no doubt of course the germans feel a bit club med countries are not paying their dues and fagged they badly informed for example the greeks work more than the germans and the idea is in terms of the

number of hours every year but everyone thinks the germans are the hardest workers in europe and they don't they shouldn't pay for the greeks who refused to pay their debts or because there's a lot of corruption in recent it's true but. you know the deficits in terms of information among the general population unfortunately the general population is never consulted for example when the banks advice a greeks to go deeper and deeper into text the populations of greece of germany were not informed now there's an effort to be made to inform the population and maybe this idea of a collective fund european fund to save greece independently of the markets is not such a bad idea how is this going to pan out i think is going to change strategy we're just in a carry on trying to save and if they go on doing what they did for the last two years it's going to feel is there was one plan member second. and if they had it

and are the same nature it would feel and maybe at the end greece would be forced to default this is what they want to avoid now so they have to try out a new tactic and the eutectic may involve calls for the banks which would be i think in order because the banks are part of the problem and they should they should pay for it after all you know if the greeks did something like the people nicely and said no we're not going to be added back. the markets would suffer a defeat it's very much a situation of a conflict between the markets and political deals ok i'll leave it there for now interesting stuff professor thank you very much for joining us thanks a lot thank you. a london based team investigating a phone hacking by journalists using to national as an expanded from what he thought to sixty police officers and staff as a scandal intensifies comes after he's warned that an indian name completes an

investigation would put the start of the planned public inquiry russian billionaire and some of them are there meanwhile says he may be interested in reading murdoch's news of the world's top lawyer with any other position papers the bundle even stand with an independent parties nor any to ports from london now with the phone hacking scandal is. also the prime minister david cameron. every point this is a humble. i'm enjoying this so i who will survive the phone hacking scandal and to keep his job cameron comes under fire for hiring andy coolth a former editor of the now defunct news of the world he's accused of encouraging his staff to hack into private police mails there's been a large amount of fingers in isn't just a lot of heads in the sand and that is lethal for a prime minister and he's. in

a real fight isn't a real really bad situation he could well be looking at some serious consequences very bizarre at the very start still around him betting shops of slacks the odds on cameron being the next m.p. to quit the hacking they offered one hundred to one at the beginning of the week that just five to one three days later in the last two weeks or so we've seen a lot of money go on camera tickly the last forty eight hours when the the committees have been going on behind us. and we've seen cameron over the last few weeks fall from one hundred to want to be the next cabinet member to leave to fall to one year state just slightly crept up again to five to one today as a result of his statements in the house where we thought he gave quite a good performance on choose day it was murdoch's turn for a close shave attacked by a protester with a foam pie and saved only by his wife's right hook despite profuse apologies to

victims of his own newspaper's unethical behavior he had no intention of stepping down himself. what's less clear is whether david cameron remains the best person to lead britain out of this crisis of confidence he hired hussan who in turn it was later revealed was being advised by another ex news of the world hack neil wallis if that wasn't enough he was simple tain is he working for the metropolitan police politicians and police are under fire for cozying up to colluding with the murdoch empire and in the wings cameron arch rival miliband is limbering up to step into the ring so the country and how the leadership we need why why doesn't he do more why don't we do more than give up our apology and provide the full apology now for hiring. mr colson and bringing him into the heart

of downing street. commentators say the prime minister came out on top in wednesday's round in the house of commons when he was grilled by m.p.'s over his relationship with news corp but the fight is far from once you know. he is damaged before base he was and he was going to develop and there's a tough one because none of the sort of damaging policies of the government actually stuck to him the scandal has forced resignations all round top executives at news corp and the u.k.'s two most senior police officers many are asking why the prime minister shouldn't be next for a knockout david cameron's promised a full apology if it turns out and he calls in light to him about his involvement with phone hacking but some say that would be enough when it's over and we are a long way from that it's far from clear who can survive the ground still to come

and remain at the top of the media the police and the government nor and. what new york based radio host sam see that says rupert murdoch is facing a collapse of his business and political ambitions. i would be shocked if he is still at the helm of news corp in the next couple of months and i think we're going to see actually a reversal of this i mean murdoch was in many ways a throwback and. professor jay rosen at n.y.u. has basically said that this was not a a new company it was a media company that has a news division that essentially functions as a lobbyist as a lobbying arm for that media enterprise and i think murdoch wanted that little power and i suspect that anybody who takes over from murdoch and we don't know who that will be but i'm sure there'll be somebody will see this this pursuit of

political power just for the sake of political power to be antithetical to running a good business. coming up in just a few minutes frenzy rips the central russian region discovery of priceless extraterrestrial materials. the arrest of a koran sure that the international criminal tribunal for the former yugoslavia to focus on the completion of its mandate that's according to the u.n. chief ranking movements and welcome the end of a seventy and manhunts excretions generally used to trust it since i know from the early ninety's you can start conflicts is an ostomy tribunals once the list goes on this let's cross live now it's a lot sisera for use in belgrade. doing when it is expected to defer to the quartet the hague exactly. with the expedition's expected in the next week we saw yesterday

it was just hours after his detention the court here in belgrade approved decision texted him to the hague now they have the defense has three days to appeal that decision but according to local media reports we've heard that the lawyer has said that the defense don't plan to do that and we heard also from the deputy serbian war crimes prosecutor he said he doesn't expect any big dramas during that three day deadline for the appeal and also that it's expected fairly quickly he will be extradited to the hague detained obviously after many many years on the run that happened yesterday there is thought his family home in a small village northwest of belgrade and this really seen as quite a victory for especially for president but it pushing for the attention of these will conservatives come under criticism over the years to the north calling and holding to task these people bringing their men and this is the last of the war

crimes suspects wanted by the u.s. all the crimes committed during the breakup of yugoslavia during the ninety nine so we've heard that already it has three and has been had its has been questioned about the atrocities committed in particular certain incidents is there was one very specific moment it's the massacre of three hundred prisoners in the town of in one thousand nine hundred seats already being questioned about that and of course this has been seen as one of the major obstacles to serbia gaining full evander said and now that he's arrested it's thought perhaps be the next step now. having can't be thought that membership will indeed as you say some of these governments use clearing all the obstacles on that surface to land. one of the serbian people think about belgrade and visions on the tactics it's using so. was the government here has been looking very much to the west and see this again e.u.

membership public opinion does that this is quite significantly in fact certainly over the last year or so we've seen a number of these arrests just two months ago came out it's mistaken in less than two months ago now of course with this new arrest they still don't really the hague and the e.u. has been putting pressure on serbia to jump through all these seats and they've met all these different demands and yet they haven't really had anything over simply created no help from president tadic staying safe their moral and legal obligations to the hague critics is that really to see that this is now going to pave a sneeze way to serbia to enter the again the membership i would be very naive and in fact there's going to be a number of bumps in the road along the way and not least is the public opinion there's been a lot of criticisms of the government's policies in fact i was actually here in november and i spoke to the deputy prime minister and he stated that he's even membership as a chance the serbian people to have

a normal life but the people are saying they're completely disillusioned with that ideal and as they've seen quite recently you know the e.u. itself is going through a crisis they've got a number of problems they're dealing with as greece is learning the hard way really the e.u. is not the problem the resolutions all the countries problems there are a number of issues in the country that they need to do it as he said they really feel that they've been meeting all these demands and they've had nothing back from the year with this latest arrest really what serbia has done is the brussels bluff they said that this is one of the final last calls to gaining even membership and talking about i can see now we'll see worth of the comes back and actually meets that with with any actions. ok leave it there for now to sarah first thank you for that. well the arrest comes less than two months after the capture of the former bosnian serb commander general that it poken sexperts rucka passage explains why the international criminal tribunal for the

former yugoslavia is so focused on serbian wartime need this. well he was just a loose saying really in their propaganda operation if they didn't indict him then there would be one serbian leader who wasn't accused of being a criminal and that would be inconvenient they had they have to accuse all the serbs all their leadership of being criminals for this propaganda picture to take hold as to why serbs generally are just to paint a picture because the tribunal has been set up to. accuse all serbian leaders of being i didn't serve the big criminals while hiding the real criminals so the tribunals pointing finger is the one that the actual criminals who broke up the country hide behind. a brief look at some of the international headlines. the u.s. has announced it will sail to monetary aid it's regions controlled if assured that the breeze intercepted the interest rate

a state of the army to areas of southern somalia where nearly four million people are in danger of starvation and a ten agencies estimate the country needs more than a billion in the hard dollars in aid the current crisis has been caused by a devastating drought the worst in decades. and the space shuttle atlantis is waiting to touch the surface in about two hours after its last craft and its crew for the international space station and you to land at the kennedy space center in florida. and right now after that atlantis will become a museum piece with plans to turn the mission control room into a training facility. but sometimes you have to dig deep to reach the stars at least that's the case in central russia isn't region meteorite fever has spread in recent years artie's a sun a boy jumped at the chance to catch a falling star. they don't believe in aliens so the time machine but they do spend

most of their time looking for extraterrestrial matter that will take them billions of years back in time most meteorite hunters in russia do it for profit but some still see it as their way of each hiking through the galaxy. this is the oldest matter you can hold in your hands there is a theory that means your rights are part of planets court just imagine this piece is about four and a half billion years old not the earth and them this valley about three hundred kilometers east of moscow is their latest pitstop about ten thousand years ago the locals built to have a pounding from an audience shower creating the most fertile meter of ground in central russia and discovery in two thousand was a pure accident. if you get used to dog kids help with the draining off the excavators left a local resident was passing by you know just a rather strange broken pitted out rock lay only in his bones for two years and so

he sort of program but meteorites on t.v. and sent it in for testing the speed of the internet and new years about three tons of meteorite material was this coverage here of a sound would be unlikely there out of the nation he's honest us he's the only dog in russia trying to account for rocks from other planets in many ways me to write hunting is a lot like gold digging you have to spend weeks in the wild hoping for stroke a flaw but in today's prices searching for these accidents or restaurants can be more profitable than even the good old gold fever marcion know lou when i meet her rights to be sure and high as the month can cost two or even three times the weight in gold the biggest findings usually gravitate to the united states and western europe and most me to write conductors and bass and a russian battle ax break the facts are correct for iraq's ten percent of their value it must be paid to the state. still some delusional trying to dodge the

meteorite tax your town hall was uncovered earlier this year at a moscow airport on its week illegally to the czech republic. for some their fallen stars but others retirees are increasingly becoming breezing hard to come out of it . or were firmly on the ground has marie and our latest business. welcome to business here on the right see now we start this hour with minority shareholders off you who are preparing a lawsuit in manning up to ten billion dollars in damages over b.p.'s failed supporter also left in arctic exploration the shareholders of russian court ruling ordering papers surrounding the multibillion dollar deal to be revealed this will allow them to evaluate the damages in the fell to strike the deal of

a spring. shareholders claimed. venture should be the primary vehicle for market exploration. the us has come up with an eleventh hour appliance a result of that law that ceiling and sought the plan will help the country avoid a technical default that includes deficit caught so four trillion dollars and calls for tax increases of one trillion bazza chief strategist of i n g bank chris we for says there might be a gap between promises and real cards. if the government makes too many cuts and raises taxes perhaps too severely bending could cause a double dip recession because of some substantial slowdown in u.s. economic activity which would of course hit the u.s. federal budgets and exacerbate the problem so they have to be very careful not to introduce the cuts to violently are too quickly so be a very tricky balancing act and that's why i'm not expecting even the four trillion

dollars cuts i really don't expect those to be put in place for a very long time i think with what we're seeing now are promises of cuts in order to get it done but there's a very big difference between promising record and actually making it and i think the protection of the cuts will be very much linked to what the indicators are economic growth in the u.s. . let's take a look at the markets now through this news in this hour that's after earlier gains as u.s. all stockpiles shrank indicating fuel demand will increase in the world's biggest consumer all of the commodities. and the european markets are in the red this hour earlier we saw gains as chancellor merkel and french president sarkozy agree on a joint approach to greece's that crisis ahead of today's theme summits the footsies losing about a third of a percent this hour and the german dax is lower by more than half a percent. and here in most skull both markets have slipped into negative territory

and that's the spiral force of lower unemployment rates and accelerated retail sales in june let's have a look at the index movers on the my sex energy stocks are in the rad there we go your rats see them gas form as losing three quarters of a percent this hour banking stocks are also trading in negative territory for a bank is shutting around a half a percent and bucking the trend is ross telecom it's rallying all speculation it could be completely sold to private investors. and that's all of this is for now and you can find more stories on our web site that's artsy dot com slash business it means i'm saying soon for the headlines with carrie.

fisher disciplinary on. tour. with the entry system transformer criminal into a law abiding citizen. prison life behind bars on r.g.p. .