for the see we've gone to. the biggest issues did you voice face to face with the news makers. of the. headlines on our t.v. a show of might in madrid the crowds descend on the spanish capital over soaring unemployment and the government's handling of the struggling economy. across the atlantic the rush to reassure the world's markets that the u.s. can avert the looming default even though the president and legislators can't agree on how to lift the multi-trillion dollar debt limit. and over a hundred thousand people gathered in one race capital to mourn the seventy six victims of friday's atrocities the man who admits the attacks and charged with terrorism.

just after eleven pm here in the russian capital you're watching r t thanks for being with us now thousands of protesters have set up camp in madrid central square they're angry at the crippling recession and the mass unemployment and they know their country is in deep trouble with see their future being decided by brussels and the i.m.f. instead of being able to deal with the mess themselves artie's has been to me. the cash in spain is going mainly down the drain at least that's the opinion of dollars of people who've rallied across the country. who are going to follow in the footsteps of latin american countries by mexico the government is controlled by the american bank and that w t o they don't care about the people. so the people

decided it's time to voice their concerns loud and clear before the lose more than just the shirt of their back spin as one of the highest unemployment rates in the eurozone so while the european leaders have been occasionally meeting and comfortable quarters to talk about the future of the euro and the european union itself people in the country have been demonstrating on an almost weekly basis demanding the government shape up stop talking and do something about the situation this is not just about higher wages and better pension plans with more than forty percent of young people in spain unemployed simply getting a job is a priority for those gathered in the trades central square the big part of the responsibilities from the cover. because they go first of all. not create the conditions at the beginning of the crisis to fight against the crisis it reacts very late. and on the other hand once the government.

was due to go roaming it's not good good job. looking good in the nodal people to wake up otherwise we'll just become slaves to the system who want to be treated as humans and they believe they can make a difference but the government has to change things because they don't have a choice. with greece in shambles and neighboring portugal trashed by the rating agencies spain is facing not just a financial but a deepening social crisis members of the so-called indignant marches say they want their dignity preserved but whether their calls will be heard is another issue it is. madrid. but there is more bad news for greece as well its credit score has dropped to just one notch above the fold following last week's second a bail of bailout package

a ratings giant moody's says rejecting the debt and why substantial losses to private investors financial journalists you had bought over it felt says the rescue package is nothing more than banks pay money to other banks. we are building out the banks and we wouldn't be soft i presume. if there wasn't a problem of the french and german banks not only of these two companies but of course they are the major players in this if they were in that room or the greek situation indeed we are throwing money at the banks through greece this package will certainly not help the greek economy the greek economy needs growth and since you're in the midst of a very bad recession you're blige a country to cut spending to increase taxes then throwing some money. is not the solution greece is now effectively in default because if you calculate on the net present value what the private bondholders will do then you amount of value

reduction or four you can do a value reduction of around twenty percent in europe we don't have a political union and we don't we certainly don't have flexible labor markets so from the beginning. there were huge weaknesses in the whole construct of the monetary union in europe and my big surprise is the last ten years before through this kind of crisis these weaknesses came to the surface well on the other side of the ocean american politicians are still toslink over how to raise the country's debt ceiling well republicans and democrats argue secretary of state hillary clinton has been trying to call nervous asian investors but they will meet next week's deadline let's talk to michael chelsea's the editor of a catholic current affairs magazine thanks very much mr jones for being on the program now both the u.s. secretary of state and the treasury secretary are confident that

a compromise will be reached and that the debt ceiling will be raised now are you convinced. yes i think the debt ceiling will be raised so there's good and bad news the good news is there won't be a default but the bad news is on august second they'll be faced with the same problem they had on august first and that is an repayable debt so how does a country going to deal with on repayable debt so they can postpone it but they still have to deal with the same growth as just a quick question there if you think it is going to be raised why don't they just raise it now instead of having to wait for august second or beyond that for political reasons each side the democrats and republicans are trying to extort some type of political benefit out of the crisis the republicans want to cut welfare benefits and the democrats. want to blame the whole thing on the republican so it's basically political a game of chicken that's what we're seeing your political game chicken ok you know the secretary of state hillary clinton is in asia and as i mentioned earlier she

has been a trying to call be a jittery investors over there in this like doesn't america have an obligation to other countries to sort out this mess because any u.s. default will have serious consequences elsewhere and as we see investors are already watching very closely. yes of course of course they have an obligation but you can't do the impossible and what we're now are faced what the united states is faced with is an impossible situation which means someone's going to end up with the money and someone's going to end up with without any money and so that's what we're that's what's trying going to be worked out right now with what you have to realize is there are historical precedents for this. in the middle ages if the prince. didn't have his money he simply defaulted on his loan and because he had an army and the bankers did i have armies over this period of time the creditors have gained in power and so it forces the government into another mode. the

mode that was discovered at the beginning of capitalism was known as the looting and the a's was in the same position as the first english king instead of something is nose at the bankers he looted the church the looted church property and so i think what we're going to see now is the united states going into looting mode this is what libya i think is all about the nato operations in libya also turns out i'm a free you are very very confident that they're going to raise the ceiling you said that there has been that presidents in the past but when will it end that will the u.s. just keep on raising their debt ceiling every time they're facing default yes they will continue to keep raising the debt ceiling and that's just going to bring to that isn't it yes because the rating agencies will lower their their rating which means they will have to pay more interest which means that the interest will accumulate much faster and so they will just go faster and faster into debt ok well whatever is that sided ed but here you're saying that they will raise the cia who's

going to pay off that massive that no one is going to pay it off it can't be paid off so what they're going to do is try to arrange for a month to month loans to pay off the last loan. there's no way to pay this debt off so what does that mean the u.s. will just be perpetually indebted that's it. they will try to stay in perpetual in debt but i mean at some point then the agencies will start lending the money their rating will disappear and at that point it was say some type of drastic action which will be easier more looting or lou for example looting pension funds is what they're doing right now or they will simply have to create. debase the currency to the point where they can pay it off with devalued dollars ok well thank you very much for your insight fareed and sorry michael jones editor of a catholic right affairs magazine thank you. well there is still much more to come on the program including the cost of war as nato forces in afghanistan cars and

more civilian injuries and we are on the wrong gritty alive can justify its means as afghan anger grows. ever lethal fix from the pharmacy party reports out of russia bad explain fully killing themselves with a drug store cartel because it's cheaper than heroin. thousands of the region's gathered in the center of ours though on monday for a candlelit vigil for the victims of twin attacks that left seventy six dead people health hours and cattle to commemorate those massacred in the shooting and i love you as well as the bombing of government buildings the man who has admitted the atrocities has been charged with terrorism or any close court hearing are slow and he will be held in isolation for four weeks under pleaded not guilty saying he wanted to save europe and send a strong signal against immigration he also claimed that there were two more cells

in the organization he belongs to investigative journalist on the grass with these may have already been aware of. it interesting the police said they never come across him before the norwegian police but i wonder very much i wonder if the secret service in norway has been watching him because it was very strange that when he was first arrested on friday the police actually called out his name to him now is very i would be amazed if they would have actually known as i first approached him what he was i would have thought that from the arrest point that's where the investigation would have started from this guy obviously needs to go down if that's what the jury finds and let's make sure that he's not free to roam the streets because what concerns me is some of the right wing terrorists we've had in europe over the last thirty forty years really still are this is from the operation gladio and other similar operations by nato still are walking the streets. that was investigative journalist tony goss thing talking to us there. five afghan children

have been injured in an attack by a british apache helicopter they were working in a field in helmand province on saturday where u.k. forces were targeting an insurgent on a motorcycle nearby that all those fifteen hundred civilians have been killed this year which is already the deadliest since the invasion started in two thousand and one and peace activists lindsey german told me earlier that the alliance is actions prove that war isn't working. i think that it will just convince more people in afghanistan that the war isn't helping them really is actually killing and injuring more and more people so it isn't working it isn't going to work when you have a war where the recent growing insurgency good will pretty all sorts of people who are victims of this and children are obviously one of the worst of the casualties the only solution to this is to say war isn't working it has there is absolutely no

justification for the nato forces to be there and that they should withdraw the troops this is now coming up to the tenth anniversary of the war and there is absolutely no question that this war is not getting better it is getting worse it is almost certain that whatever settlement eventually comes in afghanistan it will involve the taliban in some capacity nearly everybody now recognizes this so what is the point of continuing this war the point of continuing this war is because the americans and the british and their allies cannot admit defeat in the second country are to what happened in iraq that is why they're there they are there in order to prop up a government that they have no real confidence in they are there in order to save their own faces they are there to protect their interests they're not there to protect the ordinary afghans and we've seen this again this week. but it was lindsey german from the stop the war coalition. now the last serbian fugitive

wanted by the u.n. war crimes tribunal has appeared in court more on how to faces fourteen charges including crimes against humanity during the balkans war in the one nine hundred ninety s. where serbian officials hope his arrest will clear the way to e.u. membership but as r.t. sarraf earth reports many serbs remain skeptical as to whether it's worth joining at all. so far the type deal has indicted one hundred sixty one people most of days has been served and there's been a fair amount of criticism certainly from the public opinion here he'd hate tribunals acting with political and not necessarily legal interest there's also a strong public opinion here that all day the government very much looks to the west that people have really didn't feel anymore like joining the e.u. is necessarily going to be in their school their country's interest they only have to look to greece to italy to spain to see that joining the e.u.

membership is not the answer to the country's problems in fact in many cases it could quite potentially bring many more and yet it is something that we still see the serbian government really pushing for a lot of people saying that really they are the holding to process wishes they were supported by brussels when this government was put in place they got the parliamentary elections next year and elections the year after that they certainly they're going to be using the arrests anasazi going to be using the candidacy for the e.u. if that ends up happening as a reason for the public to vote for them now that remain a number of obstacles in the way nonetheless one of those of course is possible but now we know a lot of the understates will be pushing for serbia to acknowledge because they'd independence as they have here within serbia but is extremely unpopular with the public opinion and we've had to do that for any government to

come out and make that agreement would be political suicide. to have john strong who's written extensively on the balkans war says the whole court was set up to bring only one side to justice. tribunal it is indeed a set up namely to back the gross and out of the uber star crisis as being the responsibility of the syrian joint criminal enterprise i don't think there really is more corrupt and other countries there are really the e.u. but i think the thing is is this really in the benefit of could benefit. if you listen to the europeans are saying they're saying up another brutal has been across they're not saying last through they're saying an important hurdle and the other hurdles remain namely is that the great english and why serbia owes the rip off of its problems across the world i think that the group that is in power which

is that is backed by the united states and the european union is in fact ready to give away everything that can be given away it's only a question of how they can formulate it in order to get it has been voters. was balkans expertly anna johnstone giving her appraisal of what will come out of the trial. the syria's government has approved a law to allow the formation of political parties other than president assad's ruling baath party opposition movements were bad when it came to power in one thousand nine hundred sixty three but it's part of a series of reforms promised by assad to try and twelve months of protests against his regime meanwhile the e.u. is calling for more u.n. pressure on syria pledging to pursue its policy against a mask just for the crackdown on protestors that are enmities journalist our hearts countries are prioritizing their own interests. what do you interest.

the interest. is in getting rid of. a minority control group in the country because they are here since the relationship with iran and i with you the british and american policy. they want series of iraq not completely. so i was interested over. the west use. that somehow this will be to the end of the alawite until the end of this minority. just in syria and work on iran. for more on the events unfolding in syria head to our web site that's r.t. dot com and there's also more on the stories we're covering on the air and here's what else who discovered there today america's smallest combat for porphyria in iraq the groups are finally leaving but they're being replaced by private

contractors ensuring the u.s. grip with me. also getting in a lather over the prime minister as these scantily clad hard watchers display their devotion to bloody murder with no other cars it's not the first time around women have shown support by shouting quotes as weeks way and our teeth dot com. diverse have recovered all of the bodies from the russian pleasure boat that sank in the volga river two weeks ago now out of the two hundred one people on board the ship one hundred twenty two were killed the bulgaria has been raised from the riverbed and has been towed to shallow waters where investigators can piece together the ship's final moments to discover how the tragedy happened it will then be destroyed so that no part of it can ever be used again over bulgaria went down in just three minutes and only seventy nine people managed to escape the captains of two vessels that sailed by the sinking ship face criminal charges for passing by

without stopping to help. more world news in brief for you this hour the new york hotel maid accuses the former i.m.f. chief of sexually assaulting her has gone public nothing to do yellow has stalled newsweek magazine that she's telling the truth about the attack in may that she wants to see the many stars scada behind bars well the authorities are considering whether to drop the charges against him amid doubts over her credibility it's nice all the charges. the hundreds of gay couples got married in new york on sunday the american state has become the sixth and most populated to recognize same sex unions the i do is began at midnight. the cheers and applause of family and friends meanwhile thousands condell their weddings browse across the street. i hear where addicts and russia are turning to a cheaper deadlier alternative and its ingredients are also easy to get hold of the

drug cartel is known as quark it out and its main element is a painkiller called in which the government now wants to restrict the sales up artie's never ports are the lethal narcotics increasingly used and you may find some of the images upsetting. even though they call it a crocodile because its users skin turns before it falls off virtually unknown ten years ago it's a mixture of petrol solvents phosphorous and most importantly cheap medicines containing the painkiller cody it's now become richer second most popular drug. which is the cheaper more easily available alternatives injecting this lethal cocktail a user's flourish in months i wouldn't three years i have been to be using it for two months. to clean it the government's come up with a simple solution for now i can still buy code being containing drugs off the shelf but from next year onwards i'll need

a prescription to do that so the six showed clearly of russians use these drugs on a regular basis the vast majority of them for completely legitimate reasons so in their fight against drugs is the government going too far as i'm throwing the baby out with the bathwater. coding is sold over the counter in most western countries but its sales have bubbled russia in five years and many say this is not a coincidence i think it was a mistake to start selling coding without a prescription in the first place making it the most easily available it's been this problem your expert opinion has been divided some believe that this doesn't do enough to tackle the social cause of addiction and punishes innocent consumers. there is no efficient system in the country for issuing prescriptions so the people who will suffer the ordinary pensioners and housewives who need those medicines. drugs in the moscow suburbs we came here to ask what the users themselves think

regarding new law. i don't believe it would change anything those who want to take drugs will take drugs we will buy them from the right pharmacies and if we don't get them to use something else we will have something to inject eagar of nerve see moscow and all the way we explore whether egypt's new government is nothing more than a shuffling of the same old french for the first all the way to some business where korea. is here and that if thanks for joining me now russia's economy looks good the g.d.p. has returned to pre-crisis levels exports and imports are reaching new highs salaries are up and the posits have doubled the beginning of two thousand and eight. they quoted me is no longer enjoying their. surplus i mean when budget surplus and

current account surplus the budget is now in deficit and my biggest concern is that the government has postponed the normal budget plan in shield two thousand and fifteen until then the government is still using oil revenues as normal we've heard about fifty percent of budget revenues coming from oil run in there it is cold that said over three percent is really dangerous for one crake nomic stability now russia is running a budget surplus but you quote price drops to seventy eighty eight it will immediately run five seven percent budget deficit. let's take a look at the markets now all is declining for the first time in five days light sweet is trading at ninety nine dollars a barrel and brand is one hundred seventy dollars a barrel goethe rises have surged to record highs as investors are seeking safe haven in their dead traders on global exchanges gold is now trading at one thousand six hundred fourteen dollars per ounce and silver i've wanted forty dollars per

hour. now let's take a look at the u.s. where stocks resumed declines on concerns that the lawmakers will fail to raise the government's debt limit and avoid default dow jones industrial average is down point six percent led by insurer troubles cost telecommunications and consumer staples are lower on standard and poor's ready to lead these are just tools fairing the best among its ten biggest industry groups and european markets calls mixed on monday with big pussy in the red and the dax a quarter of a percent higher bank stocks were the biggest losers in london lloyds banking group and barclays fell four percent congress pakistan over three and a half percent from. here in russia markets and mixed with the r.t.s. closing in the black in the mines it's been issuing in the red now energy majors worth have led the most of lower oil prices. ross telecom was slightly better than the markets in stocks fluctuating on its own in the past couple of weeks ignoring

market trends and poly metal was up two percent as the gold miner enjoys yet another record high price for gold. today we're seeing most financial indicators sherab aim is some past some reasonable doubt deal with the lawmakers do not treat any agreement so basically we see oil trading in the ground around one hundred seventeen rolls to see major european indices are read and i will see s. and p. futures trading minus ten points and person for the friday's close so everyone is waiting for some news about the u. has dropped so i am sexualize to supine shows being out of pressure with this better bank and pretty be underperforming the market last week we've also seen some decent movement no attack on a roll call of which were among the top performers in the market also russian oil majors live cross now after a lukewarm performance bad about for instance gas problem. well the wheels have

started turning in the joint venture between time makeup perelli and russian technology they've bought a factory from the central chemical giant seaboard the deal is worth around two hundred million dollars the plant has capacity of seven million ties a year partners want to move their production capacity by fifty percent through further acquisitions the joint venture is expected to earn a five hundred million euros by two thousand and fourteen to get a fifth of the russian market. well that's all from me in the business team here and i'll teach on us again tomorrow with more business news from russia and around the world.

twenty years ago in the largest country in. the services of a. one hundred. gallon jug. where did it take the. culture is that so much given to each musician on the market for five months on what is the condition of the egyptian revolution as it lived up to expectations which is. in india.