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of the city the county was such a treat. washington agrees on measures to avoid a. crisis which has weighed heavy over america with a plan to save the country from economic collapse is criticized. the nation's long term financial woes. the west threatens to punish the syrian regime the latest round of crackdowns on protesters to be killed more than a hundred people some experts warn parents will only make matters worse. for tendencies. to veterans and supporters. to the north. to national. security.

on air and online twenty four hours a day this is out. u.s. 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 permit american borrowing to continue after tuesday in exchange for more than two trillion dollars in federal. aid but the deal was struck after barack obama held last ditch intensive talks to democrat and republican leaders are increasing america's debt limit. however the political stalking is far from over but the key issue of how to balance the budget being put off for a later date the new cross party congressional committee will be set up a part of the deal to advice on cuts including tax reform medicare and social security but as marina point now reports the torturous and the lengthy road to

reaching agreement has damaged america's reputation. 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 devise a 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 no matter what happens now 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 your point five trillion dollars of america's borrowing is owed by foreign countries experts say washington's mismanagement may cause investors to abandon the devalued dollar and

end their partnership with america it's like being married to someone to serve a year just so when they were jerks you want to know what i do how much can i put up with this relationship the u.s. will be in for a long time the only game in but the your community is making noises chinese making noises were you know we're not alone now in our ability to be a repository for financing in the world the result could spark a replay of the two thousand and eight at the nomic meltdown except 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 core along which amounts to a huge tax hike on the american people as the countdown neared zero all three big rating giants movies fitch and standard and poor's threatened america's hallowed

triple a score unless a deal was hammered out and the fourteen point three trillion dollar debt getting higher economists say america's unsustainable budget deficits are the biggest threat to the nation it's like the batteries worn out the spark plugs don't work the tires are flat all of this and so 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 the debt 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 join the campaign to borrow and spend more make a phone call sent an e-mail tweet keep the pressure on washington and we can get past this while the eyes of the world's 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 marina port niall r.t. new york. sexiness an expert in investment opportunities in the unpopular and distressed markets told r.t. that american lawmakers that the good gravy for the u.s. economy. they're going to have more and more money printing that 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 stated that twenty four to america's interest payments on the federal debt will account for twenty seven percent of g.d.p. so all this talk of cutting deficits under the debt back in order is just nonsense it's political job warning i'd like to see it happen the army is that eighty percent of the spending the money through 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 conned back down on exceed the tax revenues or some of the other the u.s. government would have to default on its obligation that was lose a lot of all of this i think is the u.s. dollar the u.s. doesn't deserve a aaa credit rating it is a joke 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 a serious weakness in the u.s. dollar which is obviously very bullish for commodities and precious metals such as gold and silver but meanwhile economics expert max rod wolf says the compromise achieved by u.s. legislators only changes the speed of the debt growth without solving the bigger

problem. this whole crisis started as an opportunity of political theater these guys couldn't even choreograph success out of their fake crisis and so now we have a huge international failure which has already done possibly lasting and certainly serious damage to the standing and reputation of the united states of america how hasn't much been mentioned that not a single plant out there reduces the national debt they just change the speed by which it grows all the showdown all this fanfare is about changing the exact forecast ten years speed of debt growth none of these plans make real efforts to reduce the long term problem of insufficient revenue and these plans do reduce spending in ways that will be painful and for many communities in the united states transformative but that will only reshift focus on to the more important long term issues of the absolute in sustainability of being committed which we are committed to having insufficient revenue for the amount of spending that we're going to be

doing for the forseeable future while having a fourteen point three trillion dollars national debt this process itself has and continues to hurt the faith and credit the world has in the united states. marks a front wolf that chief economist at green press capital talking doughty from yale . now washington and germany are threatening to take decisive action against the syrian regime which eventually killed more than a hundred people on sunday government forces raided the city of hama with tanks working havoc on the opposition stronghold he said latest round of crackdowns on protesters calling for president bashar assad to step down more than ten and a half thousand people are said to have been killed in clashes since march charity is calling for an emergency session of security council to convene on monday syria is already under a simple american sanctions but some a president of the arab world is association thinks the west doesn't have the

credibility to foon syria's affairs. the interference of the outside world in my view can be counterproductive unless it is damage to property rather than just making these wild statements like for instance the usa would decide whether the president of syria has next to miss you or not everybody is asking what right do the americans have to put this question anyway let alone deciding it but they seem to be doing this like to believe they've done it with syria and have done it with libya but at 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 out of world will immediately respond back up by one time a bad thing about abu ghraib and about 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 whether it's 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 at all but i think at the present moment it's not playing the cards. calls mounting at the u.n. for the security council to take action on syria russia still opposes any resolution against a mascot moscow one such steps could lead to a libya style scenario where the nato led coalition has been accused of stepping outside the limits of its un mandate when around twenty minutes time russia's deputy foreign minister tells r.t. why the syrians should be solving their problems themselves. with. programs we believe that the syrians should address are problems as part of their domestic agenda this is an internal 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 its conflict the form and the scale of

public protest on the other hand we should learn our lessons a number of the international players tend to degrees from the strict observation of both the instructions and the spirit of these resolutions therefore we are naturally concerned that such loose interpretations could only result in making some of the opposition circles taking their position and ordered for a tougher approach which is by no means a positive achievement in terms of finding a mutually acceptable solution to the standoff. although not says it is condemned worldwide there are still pockets of support in some areas of europe and we can this stone in veterans of the nazi s.s. which are unlike troops in the second world war rallied on the anniversary of a battle with the red army at the same time or for it is refused to authorize a rival anti fascist demonstration and this artie's sarah first discovered estonia as show support for nazis and is feeding a dangerous new ultra right movement. well here in the estonian town the cinema

that in one thousand nine hundred forty four is a scene of fierce fighting between saviors soldiers and yes this. one here by the monument to commemorate the soviet soldiers that died in that fight less than a mile away and this also the scene of the gathering of veterans day near waffen s.s. it's an event this gay widespread criticism of the glorifying nazi is. the. association of former soldiers laugh this off or on but it's something at the moment you don't think about later think about the people. for. whom country and most of year at these kind of events a band. and to hear. it in a stain year it's a different story altogether. it's common in the story or to call these people

freedom fighters we hold our protest rallies on the same day they hold this event to remind them what they are what they had given allegiance to hitler to tell them what they had never liberated dystonia moreover none of them were engaged in and all of them are more or less accomplices of the crimes committed by nazi germany. in fact in recent years the astin you know thirty's have made it increasingly difficult for those who come to oppose the event this year once again members of the anti fascist movement we detained at the buddha pool do that by the police the car we were travelling in was stopped for questioning on the way in i was stopped and i was told that i have an entropy bishan the to the country and of course they don't want any kind of other opinions than their own opinion which is very very much supporting the movement of the revival of the far right across europe is caused growing concern right party. is it gaining ground in countries that austria

finland and france third by far right extremists and this brave can always recently has driven show just how dangerous these years remain i think this is a problem with the. uprising of. extremism and far right wing extremism and the fact that you authorities. calls calls as they are. doesn't want to absorb this these say far failed to take decisive action to stop nazi commemorations within its borders bush's push for international legislation to condemn the glorification of wartime fascism but events like the one in a sting in making claire in the clear the not all countries on board critics of this event hardly that the gathering provides a four and a dangerous near fascist state did the government's failure to ban it is seen at

the very least as being morally and politically insensitive surf. well still to come later this hour the dark side of immigration party discovers a property scam immigrants are running into a brand new buildings across moscow local authorities accused of cashing in on illegal immigrants connections. let's take a look at a small international headlines for us there these suspected leader of one of mexico's most drug cartels is now confessed to ordering the murder of fifteen hundred people police arrested a thirty three year old man known as el diego on friday accusing him of being the head of a gang of hired killers looking for a major crime ring because controls the smuggling of drugs into united states from fear that on its deadliest mexican city where more than three thousand murders took place last year. clashes between libyan rebels and colonel gadhafi loyalists

have left six people dead in the opposition held city of benghazi the fighting started when rebels attacked the forces that aided the prison break of some three hundred pro gadhafi soldiers from the stress that we call for that was the actual command and libya's former interior minister this was. the ongoing civil war in libya began four months ago reports that two thousand people have already died in the fighting. north korea has announced its willingness to resume international talks to end its nuclear program the comments come after a high ranking young diplomat 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 in april two thousand and nine to be censured long range missile.

and over the weekend tens of thousands of israelis took to the streets across the country in antigovernment protests after more than two weeks of rallies demonstration. housing costs have tapped into why did this content at the high cost of living and a growing gap between rich and poor testers are demanding swift economic reforms and social justice the country's prime minister binyamin netanyahu announced that the representatives of various groups to the plan ended easing the financial burden on israeli citizens. protests are expected. the top u.s. military commander has criticised pakistan for not doing enough to root out al qaida on a visit to kabul admiral mike mullen said the border region between afghanistan and pakistan remains a safe haven for terrorists moderns torta the war their colors i think the u.s. begins to withdraw its combat troops from afghanistan and in control of

a part of the country to local forces but the taliban remains defiant the latest suicide bomb killing in lebanon people in the south of the country on sunday washington is racing to cut its war spending which is going rocketed since the invasion of afghanistan ten years ago. contributor thinks the u.s. should abandon its conventional military strategy. what is the most obvious and the most necessary measure to slash the u. s. budget deficit for the first time in the us history it was not the democrats it was their republicans who launched a fiscal counter-offensive against the a sleepy white house regarding how to sledge the budget deficit specifically in military and security failures the main challenge for the fiscal sanity of the united states is american military doctrine of strategic overly what has to be done that is to ditch the conventional

bunker mentality be a big conventional bloated pentagon budget and to shift and unconventional a symmetrical vision of the new and incoming challenges to the united states and to the whole world. now in other news a tornado has swept through russia's far east killing one person on its path of destruction twenty eight others were injured by the large whirlwind and natural phenomenon considered rare in the region where twister tore through the center of a city tearing rooftops from up into buildings turning cars uprooted trees and disconnecting power lines almost to the roads and now to create an estimated one hundred fifty homes are still without electricity. which is you can get a website or two dot com it's. now we have more news updates and videos online here's just some of what some waiting for there right now but disabled former

believes his passion for sailing advocate russians really want to waste trepan voyager is setting course the europe. and legendary australian and metropolitan empire of the sun ready to rock moscow on an anticipated gig. for. now immigrants in the russian capital are being ripped off by dodgy businessmen charge them for living in abandoned buildings the scam discovered by r.t. involved in the rent collections in which local authorities are accused of cashing in tom barton investigated one building complex which has become home to a group of migrant 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 and. 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 this was innocent words it's good for 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 make stealing or committing other crimes that's all from us you 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 open their doors soon wish they hadn't these natural course they might who

are you paying rent to for this place or what i'm just against you just against it do you live here most are too scared to talk to us 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 who knows how many people have to sleep in this room and if we come on to this room here there's two beds 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 as 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 quite center

provides an answer so when your pleasure that what you come up with the local housing committee it happens all. over moscow is unemployed and often illegal immigrants they're forced to pave stay in old in abandoned buildings if they can't they're thrown out and what about the legality of this. local housing committee inter 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 the 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 about three of them they did you know the soda it really were proceeding should be initiated and the kids should be in this to get into into court or else other officials abusing their job positions will worsen the habit of letting do updated hoses to legal migrants deal with 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 bottom r.t. . let's cross over to the business desk now and join kareen. hello welcome to business here now to thanks for joining us our oil advances from like two weeks low after u.s. president barack obama announced a framework debt limit deal ahead of tuesday's deadline futures surged as much as one point seven percent after the announcement the report from europe's biggest oil company well that shell says the time of low cost oil and gas is at an end it says finding resources will be more complex and require more money and investment but where this will mean

a cash bonanza for oil rich nations is an open question. the chip image isa function again all of the financial market on the financial market in the aggregate right now is splintering towards countries but one to inflate their situation out of the trouble right here by inflating their systems they stink that they get out of trouble by inflating the system that leads to higher commodity prices with these grains coal or oil or be accurate i think that's what europe has to do i mean what i think does what the us has to do so from our russian border to view on the 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. that's get some figures now light sweet is currently trading at almost ninety seven dollars a barrel well brenda's just a notch below one hundred and eighteen dollars for the whole precious metal prices

are in the red as investors turn to risk your assets on the positive news over the u.s. debt ceiling gold is losing wrong point eight percent. is down over a percent. now world markets show their relief after mom announced u.s. debt limit deal asian markets jumped the japanese nikkei setting almost one point three percent exporters among the main game is there with car make a honda gaining almost two percent and banking stocks on among the best performers in hong kong has been see holdings climbed one point eight percent after announcing a deal to sell almost two hundred of its u.s. retail branches to one billion dollars. the russian markets have started the trading week in positive territory the blind a half percent in the first minutes of trading the growth is mainly supported by energy and financial stocks gazprom is up almost two percent was bad bank is over two percent in the black as well the my six will open in just a few minutes it's closed in the red on friday on investors' concerns over the u.s.

debt situation. now united states debt resolution will be the main driver of investor sentiment today but michael stein from what critter says there's a lot of domestic means to give additional support to the markets going forward investors are going to take cues from external defense to a large extent in any case of the markets likely to remain quite volatile as we head into august as the summer volumes dry up and as we head into a month which historically is correlated with with bad news today rosneft will be hosting a conference call to discuss their second quarter numbers which were released on friday. is going to release a second quarter operating update in the central bank of russia is likely to make an interest rate decision we expect and like most houses interest rates remain unchanged for the month of august. that's all the business news for now for more

stories always log to our website r.t. dot com slash business headlines are next on. the. news.