refuse to foot the bill well i don't think i've ever met any body in the united kingdom and in london mark in stitches he actually wants to contribute to the by countries like greece and italy and to contribute to the continued existence of the hero because i think it's a stupid idea to start with and it's just a money down the drain pulling the plug on those states could trigger a chain reaction greece believe investors could no longer to avoid quitting the euro that in turn will spark the exits of portugal even italy and spain plays ireland the board. of the bug is going to stop there over the last couple of weeks we saw that also. spain over germany italy with germany started to go all europe's top banks hold billions of euros greek in portuguese did if those countries go bust they could lose their money we might see scenarios like that. that means that people will run to the bank in order to withdraw their deposits

because they believe that the bank might not be able to pay them the euro's facing an existential crisis admits german chancellor angela merkel but the head of europe's biggest economy warns they still might not find a compromise at the brussels summit that's raising tension across the globe. at the moment the most visible the most obvious in the eurozone problems but on the other side of the atlantic you have the u.s. economy not in the session but showing some very weak economic figures and suffering as well your leaders could start that this warrant for the single currency here at the summit if again they fail to do a deal and halt the spreading you're a virus experts fear public panic will take over denying them control. see brussels. france and germany declared joint position on fighting the debt crisis during today's summit but according to. paris. intended only

for say. if they go on doing what they did for the last two years it's going to feel because it was one plan a second plan and if they had a third plan of this in nature it would feel 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 that's on the surface but i think everyone has to make an effort because the crisis is very serious and then we cracks are always been there and there's an attempt now to paper over the cracks in part because the it was created. a rush towards a common currency with very different economies stiff accord to say now it can be saved because there's a real danger of greece defaulting is the e.u.

struggles to preserve the u.s. is fighting its own battles economic logic. is the consequence of their refusal to recognize the huge issues that the two thousand and eight financial crash presented will go into a formal financial times correspondent david dodd well i think the story is that the euro as a phenomenon is in quite serious danger at the moment however. worrying more than anything else about both europe and the us slipping deeper and deeper back towards a recession there is a lot at stake in the us effectively managing. their own really rather catastrophic challenge beggars belief that the leaders in the us so preoccupied with their own local politics that properly recognize the dangers that they're creating for the global economy is all the prospects of recovering in any short term from the recession that's already doctors for three years. well coming

up in just a few minutes afghanistan start spending for itself no to begin david process making sense we responsibility of kabul in a transition that will continue until twenty forty. eight your frenzy grips the central russian region are the discovery of priceless extraterrestrial materials. the longdon based team investigating a phone hacking by journalists at news international has been expanded from forty five to sixty police officers and staff is the scandal intensifies well this comes after m.p.'s warned that any delaying completing the investigation would put back the start of the planned public inquiry russian billionaire meanwhile says he may be interested when we were launching a wreath at murdoch's news of the world tabloid here already ngs to other british papers the london evening standard and the independent reports from london now where the phone hacking scandal is haunting not only muddle but honestly why

minister david cameron. first of all the. great humble. i'm enjoying this so. who will survive the phone hacking scandal and keep his job cameron comes under fire for hiring a former editor of the now defunct news of the world he's accused of encouraging his staff to hack into private voice mails there's been a large amount of fingers i mean isn't just a crowd of heads in the sand that is lethal for a prime minister and he's now in a real fight isn't a real but really bad situation he could well be looking at some serious consequences very absolves at the very least those stars still around him betting shops of slack the old so on cameron being the next m.p. to quit fucking they off one hundred to one at the beginning of the week but just five to one three days later. in the last two weeks or so we've seen

a lot of money go on camera in the last forty eight hours when 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 forty one years day and he 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 pai 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 coos and 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 taney asli working for the metropolitan police politicians and police under fire for cozying up to and colluding with the murdoch empire and in the wings cameron's arch rival ed miliband is limbering up to step into the ring so the country can have the leadership we need why why doesn't he do more why doesn't he do more than give a half 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 he was. getting to develop the teflon camera

because none of the sort of damaging politically seize that we can the government actually stuck to him the scandal has full stress of nations all round top executives at news corp and the u.k.'s two most senior police offices many are asking why the prime minister shouldn't be next for a knockout david cameron promised a full apology if it turns out and cool send to him about his involvement with phone hacking but some say that would be enough when it's over and we already don't wait for that it's far from clear who can survive the round still to come and remain at the top of the media the police and the government know where and. when new york based radio. talk is facing the 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 in. 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 new division that essentially functions as a lobbyist as a lobbying arm for that media enterprise and i think murdoch wanted that political 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 will 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. the arrest of god would allow the international criminal tribunals for the former yugoslavia to focus on the completion of its mandate that's according to the un chief back you mean he welcomed the end of the seven yes man home will be ex croatians general accused of atrocities stemming from the early

ninety's yugoslav conflicts is lost on the tribunals wanted list is expected to be extradited to the hague within days. is in belgrade and now at the events leading up to 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've heard also from the deputy. crimes prosecutor he said he doesn't expect any big. three day deadline for the pill 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 i never saw his family in a small village northwest of belgrade and this really seen as quite

a victory for specially for president but it pushing for the tension of these war crimes so he has come under criticism over the years for the north calling and holding to task these people bringing the men and this is the last of the war crimes suspect wanted by the u.s. for the crimes committed during the break up in yugoslavia during the ninety nine. the atrocities committed in particular certain incidents is one very specific on this the massacre of three hundred prisoners in the town of ninety nine to one sees already being questioned about that and of course this is being seen as one of the major obstacle. as to serbia gaining full membership now that he's arrested it's thought perhaps be the next step now. having can see for that membership critics is that really to seem that this is now going to pave a sneeze way for serbia to enter the in again 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 the van for and i spoke to the deputy prime minister and he said that he's even membership as a chance the serbian people to have a normal life with people saying they're completely disillusioned with that ideal as they've seen quite recently you know the e.u. itself is going to have quite a say got a number of problems they're dealing with with this latest arrest really what's done is called brussels bluff they said that this is one of the final obstacles to gaining even membership and talking about their candidacy will see worth of the comes back and actually meet with with any actions over how to dress comes less than two months to counter before more balls come on to the general adage balkans experts explains why the international criminal tribunal for the former yugoslavia

is so focused on serbian. well you just alluded 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 that would be inconvenient 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 of this to paint a picture because the tribunals have been set up to to accuse all serbian leaders of being i didn't the serbian 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. or plenty more to find our website for you including the latest news blogs the next that and the license and here's what else is online for you right now at ask dot com on ruthless in nuclear science and down new technology through the internet presenting projects in an attempt to pocket

research money. and find out how two dozen passengers with drownded on their ship and a vessel that was taking to the scrapyard with them still on board. the security handover in afghanistan began with the first seven cities and regions being transferred from nato responsibility into the hands of local forces well the next set of areas is expected to come under carpels controlled at the end of this year the process of transition is scheduled to last until camp fourteen after that foreign troops will only remain in afghanistan and support roles such as the training of meekness least violence is recently spiked in the country with insurgents specifically targeting the regions are going to be a hyundai power but the taliban get a fight once foreign forces are gone according to j. dilla baer saying last week and a member of we think afghanistan movement. the taliban has grown as

a result of continued u.s. presence in the southern afghanistan so by the u.s. leaving you're going to see the taliban basically not want to fight as much because they're basically fighting it's afghans you're going to see an afghan peace process take place because afghans generally speaking don't want to silly fight with each other they just simply want to live in coexist for the most part but i think that generally speaking the afghans are better off with governing themselves without the united states or the coalition forces providing security for them because as we've seen we have unintentionally killed a lot of people so if afghans are killing afghans that that's better off than the united states or nato killing afghans and i think that we would be foolish to sit here and think that the u.s. is leaving we're not leaving there will be permanent u.s. involvement in nato involvement for a long time. now the focus of all the international headlines this hour in the u.s.

has no will to monetary and aid to famine hit somalia if assured that deliveries through islamic militant controlled regions are deceptive the u.n. has declared a state of famine and see where it is all solving the somalia when nearly four million plus people are in danger of starvation humanitarian agencies estimate the country needs more than a billion and a call for u.s. dollars that aid the current crisis has been caused by a devastating drought the worst in decades. this space shuttle atlantis has completed its last weight off the kennedy space center in florida to few minutes ago this marks the end of nasa is a year long program will now become a museum piece with plans to the mission control room into a training facility the legendary shuttle and thirty three flights carried almost two hundred astronauts and circled nearly five thousand times.

sometimes you have to dig deep to reach the stars at least that's the case in central russia is riyadh's in the region where. it has spread in recent years all these exam the boy had jumped at the chance to catch a fall and stop. 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 heat hiking through the galaxy. this is the oldest matter you can hold in your hands there is a theory that meteorites are part of planets core just imagine this piece is about four to have billion years old like the earth this valley about three hundred kilometers east of moscow is their latest pitstop about ten thousand years ago the local fields took a have a pounding from an audience shower creating the most fertile meteorite ground in

central russia is this covering two thousand was a pure accident. a few ditches were dug did help with the draining off the excavators left a local resident was passing by he noticed a rather strange rock and picked it up the rock lay idly in his bomb for two years until the store program brought me to write some t.v. and sent it in for testing. within the next few years about three tons of meteoric material was discovered here some of the unlikely help of the donation his owner says he's the only dog in russia trying to hunt for rocks from other planets in many ways meteorite hunting is a lot like gold digging you have to spend weeks in the wild hoping for a stroke of luck but in today's prices searching for these acts trying to wrestle rocks can be more profitable than even the good old gold fever marchionne no lou and i meteorites we are in 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 where most me to write collector is a base and while russia doesn't law x.-prize effects are terrestrial rocks ten percent of their value must be paid to this day still some dealers try and dodge the meter right tax base for too long haul was uncovered earlier this year at a moscow airport on its way illegally to the czech republic. for some their fallen stars but for obvious meteorites i'm creasing lee becoming a blazing hot new commodity. resigned region. ok well the next business news is next with not enough to break. the international fashion festival plus of the vote took place in july the event of

the original russia. russian designers presented the best of their live and collections of the fashion show in central lushes most beautiful vulgar city. living total staring children fashion show into two places part of the festival the president of which was russia's we'll known fashion designer just loves lights. hello and welcome to business here on artsy now minority shareholders of b.p. are preparing a lawsuit claiming billions of dollars in damages over b.p.'s fell bid support there are also arctic exploration the shareholders have won the russian court ruling ordering papers surrounding the multibillion dollar deal to be revealed this will allow them to evaluate the damages. fail to strike that the all the spring as the shareholders claimed b.p.'s russian joint venture should be the primary vehicle

for exploration in the arctic. the us has come up with in the eleventh hour plants or result of that over its debt ceiling it's hoped the plan will help the country avoid a technical default and includes deficit cuts of four trillion dollars and calls for tax increases over one trillion bought the chief strategist of eye injury bank chris we four says there might be a gap between promises and real cuts. if the government makes too many cuts and raises taxes too severely then they could cause a double dip recession they could cause a 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 you're too quickly so we have 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 that's what we're seeing no are promises of cuts in order

to get a deal done but there's a very big difference between promising new code and actually making years and i think the implementation of the cuts will be very much linked to what the indicators are of economic growth in the u.s. . and let's take a look at the markets now crude has been very volatile today a drop in the u.s. within the borders push through a lot of thoughts before it's over contraction in chinese manufacturing all that bad down both light sweet and grinds are down one percent this hour roughly. and the european markets are in the red this hour earlier we saw gains asked chancellor merkel and french president sarkozy agreed on their joint approach to greece's that crisis ahead of today's e.u. summit it's the foot sea and the german banks are losing around three quarters of a percent this hour. and here in moscow both markets have slipped into negative territory and that's the spike reports of lower unemployment rates and accelerated

retail sales in june let's have a look at that index movers all my sax energy stocks are in there rather with gas from losing just over a half a percent banking stocks are also trading in negative territory for a bank shot in more than one and almost a half percent there and bucking the trend is ross telecom it's rallying on speculation that could be completely sold to private investors. looking ahead to the day's trading michael stein from a financial corporation says investors mood will be affected by data from europe and the u.s. . today we see the p.m.i. idea coming out of germany we see retail sales coming out of the u.k. investors will also pay close attention to the weekly u.s. initial jobless claims data in addition there's an important event taking place in greece where e.u. leaders will convene to talk about the terms and conditions of the second greek.

the ruble could be on a downward slide researchers from the higher school of economics are to be believed they're suggesting the russian currency is ready for devaluation next year and according to them it's weakening as inevitable. physical volumes of roughnecks have been strained and prices stable so you would just continue the trend of stable oil prices and the same all in let's say slow ones all the import we dissipate while forecast twenty five percent year over year and if you combine those profiles your see that in the second half of the next year russian current account will stream below one percent of g.d.p. and therefore unstable station so it will be one percent in the fall in the second quarter it will be zero and just what it will be one just one fourth quarter that is definitely the terror of all the instability over a month and historically we saw it in ninety eight to four thousand. is below one

percent versus duration. and that's all the business news for now for more stories you can always have websites artsy dot com slash business in the meantime as the headlines without. the.

discovery to be easy to. communicate with the want to. test yourself and become free. see what nature can give you on on. the.

very warm welcome to its home tell her this is all you need is because russell is on hold cell phone continuing bailouts and the debt epidemic gripping easily in spain but the strains each year i want to its lungs legs. and international media mogul and top politician come under huge public scrutiny raising doubts they'll be able to survive the fallout of the phone hacking scandal and restore public trust. the last remaining u.n. indicted war crimes suspect got a hot it is awaiting extradition to the hague after being captured in serbia

belgrade hopes the move will bring the country closer to e.u. membership. next. he discusses the prospects of economic cooperation between paris the moscow with the french president's special representative to russia. last special representative of the french president on corporation on russian french business relations thank you very much. being with us today say you come to russia every fifteen days what is your primary mission. my first mission given by presidents or cozy in line with president admitted it is to report. an

economic zone and the second part of this mission is to strengthen economic cooperation in all possible areas between our countries. now you have responsibility developing the trade between french france and russia which sectors of the russian economy to you think are most attractive for business leaders and friends. today for france it is of course more materials in trade. oil is essential but there is much more look at alstom is doing with france holding building locomotives our exports ross the world. is doing the pharmaceutical area we cooperate in many new technological areas these areas are multiplying because we are in the hard to russia's modernization plan and french companies can offer quality technology so for us at the point of interest not only will materials which remain essential putting a nuclear sector in which we can cooperate more do you. talk about.