for the full story we've got it from. the biggest issues get a human voice face to face with the news makers. in india oldies available in the movie the joys the hotel rooms the violence the gateway goto the grand imperial should the torch was the. new kind of let her tell

her to sit down to go and publicly and run this in the kernel was her job as a retreat. down legend on the washington nationals is a deal to raise the debt ceiling and devote to fall but critics say the new america's problems and its reputation is going down the drain. us in the e.u. step up that push for more sanctions against syria after crying down on protesters reports of the death more than a hundred people dead last day says violence on either side of the country's conflict is on acceptable. egypt on fire again his troops in cairo classroom demonstrators demanding followers to change often breeds revolution. added deadly tornado hits a russian citizen for the first time ever injuring dozens and making widespread.

plus own business russian markets give up earlier gains as a ball sprint opens in their ride but they still managed to close the trading session on a positive note and we'll have more on that and business and twenty minutes. everyone welcomes you this is all live from london u.s. we'll make. gearing up to vote later on monday on on the measures he deal to raise the country's debt ceiling and avoid potentially devastating default it was finally struck after weeks of stalemate wrangling between democrats and republicans on the hard won compromise will that american borrowing take new in exchange of more than two trillion dollars in cuts over the next decade the agreement was reached after president obama's last ditch efforts to persuade both parties to set aside their

differences the u.s. could send ripples throughout the world's fragile economy if its fourteen point three trillion dollars debt limit isn't raised by tuesday knives been finding out the bumpy road to an eleventh hour consensus has already dealt a severe blow to america's reputation in the eyes of its investors. help us avoid the fall debt ceiling nation default and this crisis time's running out the entire world is watching it's been a public spectacle filled with 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 next month next year this war 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 decide. if they were jerks you want to know why do. i put up with this relationship the us will be. the only game. but the community is making noises chinese making noises well you know we're alone now in our ability to be a repository in the world the result could spark a replay of the two thousand and eight economic 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 kora longs which amounts to a huge tax hike on the american people at the countdown near 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 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 join the campaign to

borrow and spend more make a phone call send 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. well the plan to reduce the deficit will come in two stages the first involves around nine hundred billion dollars in spending cuts while the second needs a further savings of one and a whole trillion the congressional committee has yet to decide where these will be implemented from the chief economist at investment advisors greengrass capital says the measures will hurt many people in the u.s. but it won't solve the underlying debt. 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 plan 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 united states has the kind of budget imbalance that normally does occasion a downgrade we do have a particular set of opportunities in the united states not available to countries which is a good reason not to downgrade and that is we can print the world's global reserve currency not without debasing and devaluing that currency but we can print it so the united states borrows in dollars and has the sole unique legal right to pay things and produce dollars which is eniac situation and makes us more credit worthy a downgrade which i think is quite possible and the sheer spectacular public failure of the american political system will take a while to figure out but they will not be minor and they will not be positive just so people know the statutory debt limit of the united states has been raised ninety times since one nine hundred forty that's an average of one point three to one point. times

a year every single year there's another funny thing that no one seems to mention about the debt ceiling which i find interesting as something of an economic historian and that is that the debt ceiling came into being in one nine hundred seventeen because people in the united states were afraid that congress would enter world war one the looming conflict of its day and the idea was to make sure that our government the united states government didn't enter us into wars without being sure they could pay for them and without being mindful not to increase the national debt a lesson that i think we were prudent to be concerned with in one thousand nine hundred eighteen and someone failed to remind us of as we went into afghanistan and iraq so there's actually a very interesting historical story around the debt ceiling or statutory debt limit which i've noticed hasn't been much told of late well what's the thin interview with financial analysts and months of web site www dot com. now several nine hundred days in threatening action against syria thousands only witness reports that the country's security forces have or need their attacks on the city of hamas'

more than one hundred people are thought to have been killed on sunday when government tanks forced their way into the opposition stronghold russia has condemned the violence in syria calling on both the government and opposition to abstain from brutality and abide by the will meanwhile germany is calling for an emergency session of the un security council but the e.u. imposing more sanctions on damascus appears on less than frank spring things serious problem should be settled without external influence. it's going to be a mix that of people who have decided that the way to deal with this issue is to take arms and contest for the monopoly of violence we've seen that happen in syria a number of times including in ninety two which of course resulted in a truly brutal crackdown tens of thousands of people killed so there is some of that there will also be beyond that a core of you know what syria's less developed civil society. decided they simply had enough so it's going to be a combination of the two and of course you would expect the regime to. exaggerate

the role of armed insurgents in this their own forces and you know significantly downplay the number of simple citizens who have just had enough one of the reasons this is kicked off is people are unhappy at the same combination of concern over military control and real economic hardship if you're not able to maintain that the energy subsidies among other things that the state is so often given its people that's led to this kind of unrest how much longer before you start having issues with your military payroll at that point you have a minority of officers directing conscripted soldiers to fire on their own people and the conscript soldiers aren't sure if they're getting paid and that's that is not a sustainable model for a country to continue repression like this. well syria's terrorising situation leaves many wondering how the crisis might be resolved to shape your opinions on the topic by visiting our website in casting your own vote so you fall to the door see if you just want to stay away from serious problems altogether because then it's a favorite dialogue between the two sides even fewer have

a tip that helping the opposition to kick start out but there's at least support for more radical measures like bombing the country into democracy if you haven't had your say yet do you go to auntie dot com to call your fables. want to gyptian troops have clashed with protesters camping out in the center of cairo hundreds of demonstrators were cleared away from syria's square where they've gathered for weeks to demand faster reforms to fed reserve evolution well let's cross live now to auster machall a freelance journalist in cairo who also runs a blog called the moon under water many that is a big with us here on our c so how serious is this recent violence flare up that we've seen in tahrir square. well the number of people involved was not huge. numbers just before the start of ramadan just with the start of ramadan but the violence was very severe. a lot of people with bloodied faces and serious head

injuries. it's not a number of injuries. and. no reports of anyone killed but there have been. and from the people that you spoke what exactly would you say that people are protesting against this time. the people who are still left in the. minority of the protesters most of the political groups are the ones who remained included some of the families of being killed. during the uprising. of the very hardcore but their demands will probably be the same as a lot of the rest of the protests in the protestors are subject to. civilian trials. to be. very speedy and.

they were also. in the minimum wage. there's a variety of calls from here to here that basically the idea is that not enough they want more they want to revolution not just the resignation of one man and it's really widespread dissatisfaction with the interim government on many levels and also that have been allegations have now atrocities against the population in egypt by the army since the military took the challenge of government which is fear amongst the people in voicing their criticism so. yes there's definitely. and we know that. the allegations of violations are quite well supported amnesty and other. so their investigations things like the now infamous continue to. protest. because. there was also plenty of places. to incredible

organizations have. journalists being called for questioning a form of intimidation. and we also have. a. prison for. saying the west has long supported egypt's revelation to people there expect international backing for this new push for change well i mean when you say the west in support of the revolution that's a very a statement that many people were he would reject they might say that the eventually they came on board with the dismissal of hosni mubarak but part of it part of that would be they were happy that the military taking the lead i mean the military is the largest recipient of u.s. military. one point three billion dollars in. two thousand and ten. is training and training programs and the high level contacts

between the nazis the u.s. military the egyptian military this is a foothold for them in the country when they. sort of thing to take the role of savior of the revolution that's american interests very well and do you think that we're going to see more protests taking place in egypt and is there a possibility that the situation might still evolving to get another revolution. definitely more protests there's almost no question of that. or any of these issues particularly economic issues the people are emboldened to speak the militias banned protests and strikes. to get the twenty back on its feet there's some support from the population planners that every control of the situation. a lot of people are noisy lived whether or not it evolves into another revolution is the question i'm not sure i can answer but some people here say well the first evolution is still

not over that was just the beginning. of the magical freelance journalist speaking to us from cairo many thanks for those thoughts thank you coming up here on our c rewriting history veterans of crime retold a rally in a stone year after being banned in other countries during fierce provide nonces there in europe. crossing to is around now thousands are preparing for industrial action and protest against the government in tel aviv the pan strikes follow a weekend of bassett demonstrations ever rising house prices and escalating cost of living people are demanding social justice and better work conditions policy is following developments in tennessee. well at the stage it certainly doesn't seem as if tonight's protest here in tel aviv will reach the kind of numbers we saw over the weekend some twenty four thousand people have signed up on facebook and like

the demonstrations happening here in israel over the past two and a half weeks tonight's protest is also being organized online the grievances are much the same people are criticizing the israeli government's economic policies they are calling on the israeli prime minister beneath bibi netanyahu to resign and also calling for regime change now a short time ago there was a meeting between israeli president shimon peres and a number of the protest tent all denies that it was initiated by the president he said he wanted to hear what their demands were and following that meeting he said that what needed to be corrected would be corrected this is a very different tone to what we're hearing coming out of the israeli prime minister bibi netanyahu says camp netanyahu itself has been pushing mum over these protests his spokesperson has come on record saying that these protests are out of proportion he says that the israeli qana me is healthy and sound although there certainly is a disagreement within the politicians because we know that the director general of the finance ministry has resigned we also know that a special committee has been set up by netanyahu themselves to look at how to deal

with these protesters and their grievances at this stage it seems unlikely that these demonstrations will dissolve into violence although having said that this past weekend on the weekend before after the official demonstrations ended there were a number of protesters who simply sat in the roads and refused to be moved and they were forcibly removed by police a number of arrests were made and they certainly was the mood of the tension on the streets that there would be violence now there is another purchase being organized online it's being dubbed the million man march and already tens of thousands of people have signed up for that it's a protest that's scheduled to take place the first weekend of next month and it certainly echoes what we saw happening in egypt over the past few months where there were several million man march as maybe the best way to describe the mood in israel the. it is what was said by a left wing labor member of parliament he said that this is the most complicated state of emergency that this country has seen since the dictation of independence

back in one nine hundred forty eight. over the lot more for you on our website dot com and here's a taste of just some of the stories you can find online right now and then listen to american man was jailed for a crime trumped up by his wife and her boyfriend paul but the hero gets the law as long along with fifty million dollars of compensation. and braun says the holy leo tolstoy participants will be reading out loud from the war and peace one thousand seven hundred pages of it all these details and more at r.t. dot com. veterans of hitler's in the forty guns the soviet army and world war two have traveled from around europe to hold an annual rally in a stone year for members of the knowledge than s.s. referred to they can use finds his freedom we're joined by new knowledge in the country and as artists are for three portraits fear the sting ins glorification of

not isn't this feeding dangerous far right movements right across europe. association of former soldier i love this off or on but it's something at the moment if you don't think about later or think about the people. that are. country and maced of year at these kind of events a band week i'm not going to hear. it in a sting it's a different story altogether. it's common in the stone you 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 estonia 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 stain you know thirty's and made it increasingly difficult

for these who come to oppose the events this year once again members of the anti fascist movement we detained at the buddha and pool day that by the police the car we were traveling in was also a stop for questioning on the way in i was stopped and i was told that i have an entropy 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. revival of the far right across europe has caused growing concern right parties a gaining ground in countries that austria finland and france savage sluice by far right extremists and this brave norway recently driven show just how dangerous these beans remain i think this is a problem off. the extremism and far right wing extremism and the fact that

authorities. close calls as. it's the city 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. events like the one insisting you make it clear in the clear not all countries are on board critics of this events argue that the gathering provides a four and a dangerous near fascist state days the government's failure to ban it is seen at the very least as being morally and politically insensitive so. in other news now one victim was killed by a destructive twister as it swept through russia's far east twenty eight others were injured by the huge well when the natural phenomenon considered rare not only for the region but for the whole country the tornado tore through

a city center tearing apart the rooftops and balconies of more than one hundred buildings overturning trucks not pushing trees and ripping up how our lives raged only for a few minutes but i witnesses reported that it caused incredible damage most roads have now been cleared but many homes are still without electricity for more dramatic pictures do you go to our web site r.t. dot com. i'll be back with a recap our top stories in just a few minutes out part of the business these of marina. hello and welcome to business here on arts you know a german energy major iran is going to take gas from to arbitration court in order to pay lower prices for gas in argues that small gas prices are up to fifty dollars cheaper per thousand cubic meters than the current long term contract it has with gas from however after more than a year of negotiations gas from is still on willing to meet its german partners the

man's taking the matter to arbitration as part of the contractual agreement between the two companies german industrial giant siemens is planning to set up a gas turbine joint venture with russian company power machines siemens will hold a sixty five percent stake in the venture which will be located in st petersburg meanwhile siemens is selling a blocking stake and power machines to the russian companies majority shareholder that which is controlled by aleksey of of the self and the venture sets of produce and develop gas turbines and provide relevant services. or oil is advancing from two week lows and that's after president obama announced democrats and republicans had agreed on a two and a half trillion dollar cost cutting program for the next ten years bots analysts are just current oil prices together with spending cuts could have a negative impact even an oil rich countries like russia. if you look at the u.s.

economy for example one reason why they call me has not done very well in the photograph of you is because they're american consumer has suffered because of the high oil prices the social have disk is also a huge the power of the american consumer and again this is a drag on global growth in my opinion the best price for the global economy right now and maybe even for us she's not one of them do it departments around ninety five hundred dollars or a little bit. and it would be nice you know prices right now i think would be very beneficial for united states for the world and for us. and let's take a look at some oil prices now light sweet as currently trading at ninety five dollars per barrel bob wright says out of one hundred sixteen dollars. now u.s. markets have turned sharply south after opening positive mission investors were encouraged that the government had agreed on the cost cutting program that optimism was drained away by the weak us manufacturing data and its investors and that's

a similar story in europe where the latest figures show growth stagnating in germany and france and slow in sharply in greece and spain financial stocks though are doing well as that sold off heavily in the past weeks over fears that u.s. politicians want to resolve their differences over their debts. and here in moscow's stocks lost some of their earlier days but still finished the day in the black both the arts yes end of my sex work by about one over one percent there let's have a look at some individual movers on the my sex and their two major as it were among the main gainers with gas from just under two percent banking stocks were higher bank of moscow was up three percent on bets the lender avoid the defaulting on its year bonds have to publish in two thousand and ten earnings and power generator and so value was also on the rise but company has tripled its net profits and the first half of the year. reaching eighty three million dollars and mark levin saw that i

have seen that appalls wraps up but they state for us. certainly as the day was the day that way investors sort of celebrated. the consolation of one of the bigger risks on the market that being there is going to technical default so this is behind us the markets now looking for a new reality but the new reality looking very much a lot like an old one you know the debt issues are still with us meaning once and euro zone in the united states in particular so the main drag of the market now i think is their market worries market jitters about the pace of us economy expansion whether it's going to be very little. as in the second quarter or it's going to accelerate. over also scarred giant ask the vassall twenty five percent more cars and the first seven months of the year with

a total of three hundred forty two thousand of the units but for the most recent month that was a sharp slowdown as the government ended its cash for clunkers program after us plans to produce around seven hundred thousand it will see. and that's all the business news for now for more stories you can always have while websites are at c dot com slash business in the meantime it's the headline station.