in india she is available in the movie joy be able to see a movie that's the gateway to the grand imperial through the george west coast coromandel you can a little closure it's a duty to go and. read this and the colonel was a child as a retreat. washington agrees on measures to avoid a default and a debt crisis which is way heavier for america but a plan to save the country from economic collapse is criticised for failing to solve the nation's long term financial woes. the west threatens to punish the syrian regime for the latest round of crackdowns on protesters which reportedly killed more than one hundred people but some experts warn that foreign interference only make matters worse. the arming tendencies years of nazi s.s. veterans and supporters hold rallies activists say the glorification of nots isn't

give rise to nationalism and xenophobia across europe. or the advances from a to a follow up to u.s. president barack obama announced the framework line deal ahead of tuesday's deadline to have more for you in our business bulletin had about twenty minutes. around the world and around the clock this is our team usa lawmakers have finally reached an emergency deal to avoid a disastrous debt default after weeks of political bickering and stalemate if passed by congress the two step compromise will put it back on boring to continue the cheese day exchange for more than two trillion dollars in federal cuts the next decade would do was struck off the back obama held last ditch tense a. talks of democrat and republican leaders are increasingly america's debt limit

over the political struggle is off from over the key issue of how to balance the budget being put off for a later date a new cross party congressional committee will be set up a part of the deal to advise on cuts including tax reform medicare and social security but as we're looking at now reports the torturous and lengthy road to reach an agreement has damaged america's reputation. and help us avoid default debt ceiling nation default and this crisis time's running out the entire world is watching it's been a public spectacle filled with bickering grandstanding and lack of compromise i just i said debate over raising the u.s. debt ceiling created an unprecedented climate of uncertainty over america's so-called sound economy the damage been done and what i want to happen is that everybody really thinks the united states isn't so secure it isn't so safe even if

the craziness subsides it seems to have gotten real close and who knows whether the next month next year this war and blow up again since the underlying causes economic problems are getting worse in this country for forty five trillion dollars of america's borrowing is owed by foreign countries experts say washington's mismanagement may cause investors to abandon a devalued dollar and end their partnership with america is like being married to someone. of the rich or you want to know what'll i do i'll. quote up with this relationship the u.s. will be. the only game in jail. and he is making noises chinese making noises were you know we're alone now in our ability to be. in the world the result could start a replay of the two thousand eight. hundred seven this time washington not wall street would be responsible for the first time in history our country's aaa credit

rating would be downgraded leaving investors around the world to wonder whether the united states is still a good bet. interest rates would skyrocket on credit cards on mortgages and on kora loans which amounts to a huge tax hike on the american people as the countdown neared zero all three big reading giants moody's fitch and standard and poor's threatened america's how load triple a score unless a deal with hammered out and the fourteen point three trillion dollar debt getting higher economists say america's unsustainable budget deficits are the biggest threats to the nation it's like the batteries wore out this part was don't work the terrorists are at our business and what we're trying to do is say we've got a little bit of money in the bank let's pay that down but we're not doing anything to fix the economy and so we're putting ourselves in a bigger and bigger hole not just because of dad but really because we're not

creating any way to get out of the debt instead of the u.s. president repeatedly asked americans over the past week to during the campaign to borrow and spend more make a phone call so the e-mail tweet keep the pressure on washington and we can get this while the eyes of the world have been following the heated saga playing out between u.s. politicians the main problem not going away is america's debt and the growing realisation that elected officials may never be capable of agreeing on how to solve it. or r.t. new york. but for an economic perspective on the solutions america's debt crisis of course live now to peru sexiness an expert investment opportunities in distressed markets thank you for joining us here and as we've just heard the compromise u.s. legislators have agreed upon the juices the speed of the debt but it will still

grew into it so how convincing a solution is this. and we've always felt that this was this political job warning that result was going to be the same they're going to have more and more money printing the debt is going to go through the roof and if you look at the projections from the bank for international settlements in a recent paper they've stated that by twenty forty america's interest payments on the federal debt will account for twenty seven percent of g.d.p. so all this talk of cutting the deficits and bringing the dead back in order is just nonsense his political job warning i like to see it happen so how did this happen anyway i mean why did congress allow this deal that it to go to well i can't . go both parties are trying to play a political football match they're trying to show to the public that they care more about the than the other party the realities whether it's the democrats or the republicans or the last thirty forty years they're all printed money they've all borrowed they've all spend their lives beyond their means so they can lead to blame

this is just political job warning and no matter who comes into power this problem is now become too big for anybody to solve i don't think anybody has the political will to take the pain and take the recession and i'm depression to get out of this mass everybody just likes to kick the can down the road and print money so i think this is just as i said political jawboning well as we understand it the plan includes cuts to defense spending but how do these cuts compare to americans overall all costs. well if you look at the spending today the us government is spending about three point five three point six trillion dollars a year the tax revenues only about two point two trillion dollars a year the budget deficit is now nine percent of g.d.p. and the army is that eighty percent of the spending with the mandatory spending already now exceeds the tax revenue so even if they try to cut the budgets or the

expenditure they would have to default because the mandatory or the composer is spending obligations which the u.s. government can exact down on exceed there are some unusual some of the other the u.s. government who have to default on its obligations which is neither you anyway is a technical default. congress still has to vote on this must remember that what are the chances that legislators weren't passed the agreement. well the chances are very slim i think of the plan was always to come out with some sort of compromise in the last minute and this is exactly what we've got i don't i don't think any politician in america has the will personally since the cut the debt and the deficits and solve all the structural problems facing the years economy this problem is just too big and the easy thing for him to do is just to agree with everybody else and kick the can down the road how will the effects of this deal that be felt by ordinary american families and we hear a lot about the politics of it but will they notice any difference. yes because

here the more deaths there is in the u.s. the more federal debt the more the taxes are going to go up because remember the government doesn't have any money the government either prints money or it borrows money. says the people and if the debt overhang continues to increase at a time when incomes aren't increasing and asset prices are going up americans are really going to feel the pinch because all this huge debt which is now looming over the united states has to ultimately be paid by the american people through taxation so any increases in debt obviously affects the american public because they're the ones footing the bill so what consequences willis financial man. have for international investors and their eagerness to bet on the american economy. while the worst lose a lot of all of this i think is the u.s. dollar the currency is now in a very vulnerable position in my view i think sooner or later more and more people are going to come to the same conclusion but the world's reserve currency is no

longer a reserve currency and that the u.s. doesn't deserve a aaa credit rating it is a joke it is like giving a aaa rating to the subprime bonds before the hold up and if you look at this finances of the u.s. the federal debt now accounts for roughly ninety six percent of g.d.p. and as far as i can see there is no way this that's going to come down and the u.s. has no business getting a aaa rating and when other people come to the same conclusion as i do then i think there could be a rout in the bond market and as mr obama was alluding to earlier we could see seriously higher interest rates and seeing this weakness in the u.s. dollar which is obviously very bullish for commodities and precious metals such as gold and silver paper is actually from a wealth management talking to us live from karl thank you. washington and germany are threatening to take decisive action against the syrian regime which had actually killed more than a hundred people on sunday government forces raided the city of hama with tanks

wreaking havoc on the opposition stronghold its latest round of crackdowns on protesters calling for president bashar assad to step down more than one and a half thousand people are said to be killed in clashes since march through many is calling for an emergency session of the un security council to convene on monday syria is already under a set of american and eve sanctions but some time president of the arab annoys association thinks the west doesn't have the credibility to interfere in syria's. the interference of the outside world in my view can be counterproductive unless it is directed properly rather than just making these wild statements like for instance the usa will decide whether the president of syria has less to miss you or not everybody is asking do the americans have to put this question anyway let alone

deciding it but they seem to be doing this selectively the damage with syria and libya but by the same time they have not done it with yemen they have not done it with other places where there is uprising including battling for instance when president obama says what he's saying everybody in syria and other world will immediately respond. one time among. the rest of the afghanistan situation all of these things so dreams are low and it doesn't give any comfort generally speaking the world seems to be content with condemning and making these wild crazy statements where you know the regime is less than it or not or whether it should be it's using use of force the world can play on all but i think the present moment is not playing the live cards. well with calls mounting at the u.n. for the security council to take action on syria russia still opposes any resolution against a mascot's scale that such steps could lead to and maybe a starts in the area where the nato led coalition has been accused of stepping

outside the limits of its un mandate just over an hour's time russia's deputy foreign minister tells r.t. why the syrians should be solving their problems themselves. ready for games we believe that the syrian should address their problems as part of their domestic agenda this isn't turn a civil conflict and it should not be internationalized as for the situation in libya of course every country is unique in terms of its particular situation the background of this conflict in the form of the school of public route is the secret from the other hand we should learn our lessons from a number of international peers tend to degrees from the street observation of both the instructions under spirit of these resolutions therefore we are naturally concerned the certain loose interpretations could only result in making some of the opposition circles taking their position and order for a tougher approach which is by no means a post of achievement in terms of finding a mutually acceptable solution popstar north.

although not system is condemned worldwide there are still pockets of support in some areas of europe over the weekend the stone you veterans of the nazi s.s. which are like troops and second world war rallied on the anniversary of the battle of the red army same time for what is refused to authorize a rival anti fascist demonstration as artie's sarah first discovered estonia show support for nazis and meeting a dangerous new ultra right movement. well here near spain in town a cinema nineteen forty four is the scene of fierce fighting between favorite soldiers yes this is where here by the monument commemorates saviors soldiers that died in that bite less than a mile away and this town's all save the scene of a gathering of veterans of this day near there isn't a widespread criticism but glorifying nazi is a. former soldier a

lot of this forum but. it's something at the moment you don't think about things about people over. the war but for. him country and most of year at these kind of events abound. and to hear. it in a story in years is a different story altogether. it's common in the story you can call these people freedom fighters we hold or quartermaster always on the same do you hold this event to remind them we are given allegiance to hitler. they have never liberated. moreover none of them were engaged in one of them are more or less accomplices of crimes committed by nazi germany. in fact in recent years he is staying in a thirty's and made it increasingly difficult for those who come to oppose the events this year once again members of the and he crashes movements were detained

at the puter and pulled over by the police because we were traveling in was easy stopped for questioning on the way in i was. told. i have an entry to the pantry and of course any kind of other opinions from their own opinion which is very very much supporting this is. the revival of the far right across europe has caused concern the right party. is it gaining ground in countries like austria finland and france the third it's by far right extremists and is prey vicky norway recently has driven show just how dangerous these fees remain i think this is a problem of europe. are praising more for. extremism and for right wing extremism and the fact the authorities.

calls calls the yards. doesn't want to absorb this be you say far failed to take decisive action to stop the nazi commemorations within its borders bush's push for international legislation to condemn the glorification of wartime fascism events like the one in a stadium making clearing a clear they're not all countries. critics of this event soggy that the gathering provides for and for dangerous near fascist ideas the government's failure to plan it is seen at the very least as being morally and politically insensitive. also to come later this hour the dark side of the immigration party discovers a property still waiting to go round and round things of crossness go before it is accused of crashing in on the actions. of some other international headlines this hour the suspected leader of one of

mexico's most notorious drug cartels and snuck past. fifteen hundred people but he's arrested a thirty three year old. writing using him being head of a gang of hired killers working for crime and the cartel controls the illegal transfer of drugs into united states from. deadliest mexican city where more than three thousand place last year. clashes between libyan rebels and gadhafi is enormous six people dead your position held city of benghazi the fighting started when rebels attacked the forces that aided the prison break some three hundred program duffey soldiers comes less and he has got the military commander of libya's minister. skilled the ongoing civil war in libya began four months ago that some people have already died in.

north korea has announced its willingness to resume international talks to end its nuclear arms program the comments come after i read diplomats visited new york for talks with u.s. officials last week north korea has been under international pressure to dismantle its nuclear weapons program since two thousand and three young pulled out of talks last night that essentially all children range missile. they were the weekend tens of thousands of israelis took to the streets across the country can think of no protests after more than three weeks of rallies demonstrations the housing costs that tapped into why the discontent among israelis the high cost of living and a growing gap between rich. people are demanding swift economic reforms and social justice countries prime minister netanyahu announced that he will gather representatives of various groups the plan aimed at easing the financial burden on

israeli citizens. and in other news a tornado swept through russia's far east killing one person or its path of destruction twenty eight others were injured by the large whirlwind natural phenomenon considered rare in the region with twister tore through the center of a city tearing rooftops from the buildings and pretending causing you to trees and disconnecting power lines mostly roads have now been cleared to make it one hundred fifty homes to the. dramatic pictures into a website of what he thought. from there we have more news updates and videos online for you but it's just some of what's waiting for you right now i disabled former miner fulfills his passion for sailing abrogating russians many waterways. about the intrepid voyage of setting course for europe.

and legendary australian electro pop duo empire of the sun devil ready to rock moscow movie and to separate a big. fish . from. immigrants in the russian capital are being ripped off by businessmen charge of living in abandoned old buildings a scammer discovered by our team was illegal rent collections and local authorities and keep the cashing in the bottom went along to form a city conservatoire which has become home to a group of families. at first glance it looks like a case of illegal immigrants squatting in a former architectural gem. this used to be part of the moscow conservatory. this

building here in the center of moscow was formally empty we heard that now there are many immigrants living here in very poor conditions are illegally right in the center of the city. but they would perhaps have gone unnoticed if it weren't for the fuss raised by quiet center a group of local residents wanting the migrants off their doorstep it was written to get you to live in crowded conditions who knows what diseases they may have many of them don't work where they get money to eat by stealing or committing other crimes that must be go on his fellow activists call the authorities and the next day we return with offices of the federal migration service. for. the migrants who do work and their draws soon wish they hadn't these nato forces in my career you can read to figure this place. what i am just a guest here just a guest do you live here. most are too scared to talk to us but what we do learn

points to a far larger and more shocking story they aren't squatting they're being charged rent. a man comes to pick up the money from everyone living here i only know his face not his name stop filming me so if we go into one of these rooms this room here as you can see it has one two three four five six beds and who knows how many people have to sleep in this room and if we come on to this room here there's two birds possibly more in here that lady doesn't want to talk to us but each of the people that are sleeping in these rooms pay three thousand roubles every month to do that because the migrants are led outside the questioning changes from what are you doing here to who is keeping you here eventually one of the group quiet center provides an answer one you'd like to have a newcomer to the local housing committee it happens all over moscow is unemployed

and of an illegal immigrants therefore the peeves stay in old in abandoned buildings if they can't they're frozen out and what about the illegality of this day the local housing committee in turn shares its earnings with the city council and a district police inspector because it's impossible without their consent when we took these allegations to the federal migration service they admitted it wasn't migrants fault they wanted someone to live in moscow central district government was even more damning confirming our suspicions and admitting the rot goes deep inside the housing administration that's clear then they did it in order so that it will proceedings should be initiated and the kids should be in this to get into control court or else other officials abusing their job positions will worsen the habit of looting dilapidated hoses to legal migrants. our investigation revealed just a small part of the scheme to charge illegal rents of hundreds of sites across moscow to people in a desperate position and by providing false hope of

a place to live they're only going to encourage more misery for residents and migrants alike tom watson r.t. . but see what's happening in the world of business now it's not a great career. or a welcome to our business update is all advances from a two week slow after u.s. president barack obama announced a framework debt limit deal ahead of tuesday's deadline creatures surge as much as one point seven percent after the announcement meanwhile a report from europe's biggest oil company world dutch shell says the time of low cost of oil and gas is that an end it is finding resources will be more complex and require more money and investment but this will mean a cash bonanza for world which nations is an open question. the cheap energy use a function again of the financial market and the financial market on the aggregate

pointing towards countries that want to inflict the beer situation out of the trouble right here by inflating their systems these things are big trouble and by inflating the system that leads to higher commodity prices were these greens coal or oil or. are you thinking europe has to do the story and i think that's what the us has to do so from a russian point of view on the aggregate over the long term the oil prices will be higher. by more things with the money i don't think so because this is really a reaction of inflation. now let's get some figures now we see light sweet currently trading at almost ninety seven dollars a barrel about brant is just a notch below one hundred eighteen dollars per barrel and precious metal prices are in the red as investors turn to risky assets on the positive news over the u.s.

debt ceiling gold is losing around point eight percent the server is down over eight percent. world markets show their relief after obama announces u.s. debt limit deal asian markets jumped the japanese nikkei is adding almost two percent exporters among the main gain is with car maker honda up almost three percent and banking stocks are among the best performers in hong kong ages b.c. holding climbed one point eight percent after announcing a deal so on those two hundred of its u.s. retail branches one billion dollars. and the artist and my six will all start trading very soon on friday they closed down with financial and energy stocks among the worst performers. u.s. debt resolution will be the main driver of investor sentiment of monday meanwhile michael stein from a criticize there's a lot of to nest to give additional support. going forward

investors are going to take cues from external defense to a large extent but in any case other markets likely to remain quite volatile as we head into august as the summer volumes dry out and as we head into a month which historically is correlated with bad news today. it will be hosting a conference call to discuss their second quarter numbers which were released on friday. protest is going to release a second quarter operating update and the central bank of russia is likely to make an interest rate decision we expect like most houses interest rates remain unchanged for the month of august. and that's out there for this hour but don't forget you can always find most toys just log on to our website our team got com costs.

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