in the. home. in india all these available in the movie go hard on the joint the hotel rooms the m a villa it's the case for a hoto the grand imperial truly the top western coast coromandel you can know what

hotel the closeness photo says don't need to go and. read the some of the kennel was hoto as risk or retreat. the u.s. finally passes the debt limit to avoid criticism that america still faces covered. for the debt both here in washington after months of brinksmanship but the short term political victory spell doom doom in the months ahead. the u.n. security council debates a resolution on syria following the escalation of. russia. must meet the interests of the syrian people. tidal wave of anti-government protests demanding sweeping economic reform complaint. by

the international media. international news this is. just turned eleven pm in the russian capital good to have you with us this hour after months of political squabbling in the shadow of a looming default the u.s. can finally breathe a sigh of relief that bill to raise the country's boring limit has been signed into law by president obama. in the senate and lucy's. in washington. president did come out and speak earlier he called this crisis a so-called manufactured crisis saying that it shouldn't have taken the risk of a default of a catastrophe for a washington to get its after work together interesting words but of course we

can't neglect the fact that both the president as well as the both both of the political parties are all equally to blame for the big picture economic crisis that has brought the united states to this one which now what this deal does is essentially raises the borrowing limit of the united states while cutting spending by about two point four trillion dollars there's a lot of sort of strings attached in order to raise that debt deal that limit and the reason that we saw this battle over this fairly routine vote the raising the debt limit keep in mind is something this country has done more than one hundred times since one thousand nine hundred eighty s. what we saw what was different this time is that this became a proxy ideological war between the republicans in congress and the democrats now of course we are entering an election year and so the republicans chose this time to sort of dig in their heels and to really fight with the democrats over issues that both sides are diametrically opposed to what do these so-called tea party

republicans the right when republicans want no taxes much lower taxes they want very little government spending with the exception on occasion to of course defense spending democrats meanwhile want to keep spending on social programs at high levels they want to close with they call corporate tax loopholes and essentially have the wealthiest folks in the society brunt on the economy now at this at this stage in the economic game both courses are unsustainable one of the things that this legislation does is essentially guarantees that there will not be any more stimulus spending so in the short term there's going to be huge effects were of course dealing with a country the united states that has abysmal unemployment rate levels at nine point two percent the g.d.p. has barely been growing one point three percent over the last quarter the housing crisis still in. and in the long term this legislation does nothing to assure world markets that the united states is on a sustainable fiscal path as i said earlier does kick the can down the road and so world markets are standing by they don't know exactly where the united states will

cut taxes will be increased whether revenue will come in and so the ratings agencies have also sort of remained a mom on this we did see fitch come out and say that essentially the triple a rating will not be threatened or the united states of course which was not the one that threatened to downgrade at any point in this crisis we're still waiting to see where standard and poor's stands on this they want to see cuts of about four trillion dollars the deal only promises about half that amount and moody's has still been silence a lot of questions and of course the biggest the biggest losers in this whole deal are the american people who are simply struggling to get along to survive in what has been one of the most catastrophic recessions this country has seen in a long long time. and. financial analyst with international strategic consultants joining us live there in new york thanks very much indeed for being with us the u.s.

is now really avoided but is this really a cure for all the financial ills of the u.s. and the wider world. it certainly is not it does not address the underlying macroeconomic problems that the u.s. faces there's an urgent need for resumption of economic growth creation of wealth and particularly revenue generating jobs among the broad consumer component of the population in the united states seventy percent of the overall economy is due to the consumer element so unless the united states increases government revenues or drastically slash costs. this problem will come back with a vengeance certainly the bill that was signed today puts off any further discussion about additional cuts that would go to four trillion as you mentioned for standard and poor's demands until after the elections for two thousand and thirteen for the next president or the second term about obama administration to

deal with so that's an easy route however in the interim if the economy to its further if the markets react adversely if the dollar slides the oil prices are unstable then you may see one of the three rating agencies chop a slight notch into the aaa bond certification that the u.s. treasury presently holds and that would send things into a spiral yet again. said that when congress comes back from recess he really does want to address the financial climate indeed who knows what's going to happen between now and then you cite quite a few potential problems there occurring but nevertheless if he wants to address these these problems what we've already seen now is the fact that the parties aren't that good at working together and with his leadership is going to be able to get some sort of sense and come together to get some sort of idea to get america out of debt and indeed face these current problems you've been talking about. well

i think there's been so much damage to the interpersonal relationships between the democratic and republican leadership both at the executive branch working with congress and also within congress that it's going to be hard to get one unified front with an entirely new leadership so probably we're going to see a set of band-aids some stitching and a covering of the underlying wound however that will by no means be sufficient as the united states struggles with the need to increase revenue against costs if you have this type of plan for massive cuts in federal spending it has an indelible impact on the economy itself for instance in the pentagon which is one of the largest employers in the united states so there comes a point where the cuts actually will have a significant impact in furthering recessionary trends on the other hand if wealth isn't generated then the tax base shrinks further reducing government revenues

those are the fundamental issues that will face the united states in the next three to four years and one of those fundamental issues facing the american people our correspondent said a little earlier that this deal actually results with the american people being the biggest losers out of all of this what would you agree. well for the time being of course the american people will demand results and not only legislative action another issue that's going to crop up as early as this fall is the default of the states traditionally of the us federal government has infused a very significant subsidies to maintain the budgetary stability of many of the major states in the in the union but you now see california going out looking for private financing for four hundred excuse me for five hundred forty eight billion dollars in debt you see massachusetts looking for eight hundred thirty five million dollars in short term debt financing the problem at the municipal and state level

now is going to emerge this fall and that's going to place even greater stress on the budgetary status of the u.s. government because the perception of an economy can have a major impact doesn't it what about these ratings agencies fitch for example and so far up held its aaa school for the u.s. but it's actually s. and p's down the pole that the u.s. is really going to be worried about is maybe is being threatening a downgrade for months now now what about these predictions these these gratings i mean how could that affect the economy not just in the u.s. itself but also know why don't. well certainly a downgrade even a slight notch by either moody's or standard and poor's would send the dollar down it would destabilize commodity prices and it would further confirm the general sense globally. has felt that the overall perception of the u.s. as an economic superpower able to manage its fiscal house has been severely undermined but even if there is no downgrade in the ratings status the overall

inability of the u.s. political leadership to mount a united front and head on address these issues has the early damage u.s. economic credibility and currency policy in asia and in europe certainly japan hailed the agreement that was signed today but china was rather muted and russia has been openly critical of europe's is a very good position because of its very large gold reserves both in private hands of those of the central banks and even though the euro was beset by its own new euro zone economic problems there will be only one place for china and russia to turn in terms of restabilizing the distribution of their currency holdings and that will be to the euro and if that occurs the dollar will be the loser dr roger what financial analyst with the international security consulting firm joining us live there in new york thank you for your time and your thoughts.

a fresh outbreak of violence brings more death to syria's government forces far again antigovernment protesters the un security council has resumed discussions on the situation in the country amid reports of a one hundred being killed on sunday russia warns that any measures against syria must be restricted to solving a not aggravating the conflict. is a new force. we do know that the u.s. and european countries are pushing for some fierce fierce resolution potentially maybe sanctions against syria stop the violence that's taking place there we do know that sanctions will not be supported by russia and possibly many other countries here security council the russian foreign ministry has said that sanctions that option sanctions are absolutely off the table russia's position is that that would it would just add more pressure to an already very sensitive and vulnerable situation that's taking place in syria we did hear brazil's ambassador

said that the country would possibly consider. supporting a presidential statement by the security council that would would talk about or oppose any kind of ongoing violence but where the security council is divided on is where they want to please the condemnation russia china and other countries are very concerned about not condemning one side or the other not taking sides not exacerbating this problem there are many countries that are part of the security council that do not want to see a repeat of what took place when the resolution of for a campaign against libya for a no fly zone over libya was adopted and implemented and many countries including russia believe that it was actually used lawfully and has been used unlawfully and so many countries do not want to see a repeat of what is taking place in libya but there may be may be an agreement on

a text for a presidential statement that would call for all the violence to end we just have to wait and see if all fifteen countries will agree on what they can say. talking to me a little earlier the troubles in syria show no sign of letting up as western powers consider exerting even more economic pressure on damascus james denselow he's a writer on middle east politics has told me earlier that president assad's continuing crackdown on protesters during the holy month of ramadan is no coincidence in syria any really effective opposition is external in terms of organizing internally there is a huge public protesting opposition that don't want a sad but we don't know exactly what they do want because there's no real political space for them to operate in now one of the reasons why assad is attacked hamma on the start of ramadan is because he's afraid that ramadan provides a bigger political space within the organizational structures of mosques in this particular time of the year for his regime to be a challenge that he's clearly and is taking steps against what the syrian

opposition would hope is that the regime doesn't bring down the state with it that it chooses the path that mubarak and ben ali took to some degree of. moving off into the political wilderness and allows for a technocratic government to essentially implement democratic reforms that have been promised over the last five months in the three speeches that he's made that would of course be a lot more attractive for them jim stynes no there was still ahead this hour an hour to the information vacuum we report on why mainstream media remains mum to the hundred and fifty thousand israelis demanding social change. that brings a whole new meaning to overtaking the time. the mercedes find out about later in the program. but first an expert independent panel says they're adults about the objectivity of poland's investigation into the plane crash that killed president lech kaczynski along with much of the country's political elite water

agreed that pilot error caused the tragedy in russia last year but differences remain between its findings and those of the moscow based interstate aviation committee europe is going to the details. in general it's clear that the conclusions mead earlier by the polish side and those made by the interstate aviation community here in moscow are similar in the sense that it were the actions of the pilots which caused the task but after the media conference held here in moscow by the interstate aviation committee it also it's also clear that their approach to detail is a different first of all the interstate committees saying that the pilots ignored the warnings from the air traffic controller and decided to attempt to land the plane anyway despite the weather conditions it is a fact about the hand off the air force was present in the cockpit at the time when they were trying to land the plane and the interstate committee says that that

alone can be viewed as direct psychological pressure whilst the polish side says the head of the air force was simply standing there monitoring the situation i was able to personally speak with the chief technical expert off the interstate aviation comedian here's what he had to say on this is the presence of their commander in chief of the forces who was treated as a poor from who. i mean c'mon do. you feel like that and. and even we can see that several times he informs luke who was in. no way says that he was doing some of the actions of the pilot more flying so as a technical investigation we definitely can see those used to be psychological. pressure on the crew members another issue very important here is that the polish committee concluded that the airstrip itself was not ready to receive the plane on

the well according to the interstate aviation committee that airstrip is certified to receive planes and even though their world minor defects. could not have possibly a way to be plane crash be interesting to me is also. an independent international body the investigation. was being done by committee questioning its objectivity. reporting there and in israel. has been turned into tent city. reports peaceful demonstrations often go on the government and the world's mainstream media. tens of thousands on the streets of israel angry and protesting for change but is anyone listening when it comes to throw

a lot of the foreign media want to see more of an action movie and this hasn't been a very violent it's been very hasn't been violent at all it's been very positive. well into week three the largest demonstration in israel in over a decade and how did a.b.c. c.b.s. and n.b.c. cover it they didn't a young a woman set up a tent while the editors of france twenty four b.b.c. and sky coughed up just a few meager seconds perhaps not even that interesting. back you know back in the studios ok there's a protest well what exactly is a protest a social protest. it's not the same kind of story that they used to it's not as big and dramatic as some of the bigger revolutions happening around the middle east and i mean isn't surprised by the worldwide lack of media interest he's worked in the israeli press for decades reporting from media both foreign and local there is

a box that the international media has put israel in and the israeli palestinian conflict was sort of israeli lebanese and syrian conflict and anything that doesn't kind of fed into that is the media type of of news item which is unfortunate mistreats has been dubbed top corner by some of the people here an optimism perhaps that they can bring down the government in the way the neighbors in the toughest square. bash was the cameras there were non stop here they push ups and that just makes hundred wayas and others angry for nine days she's been camping here furious that she can't make ends meet as a university student it makes feel sad that when egypt decided to stand up and say we've had enough and when in lebanon they. to say we've had enough the media was all over there i haven't seen anyone from c.n.n. or from fox news or any other big news channel here and it's really sad we

also deserve a chance to be heard out but without foreign media a very few people around the world will even hear what protestors here. it's a must opportunity as a crucial time just weeks before palestinians plan to announce the very own state. television. nato has sent more troops into kosovo after a week of conflict between ethnic albanians and serbs tensions were raised last week when kosovan police seized two crossing checkpoints to enforce a ban on imports from serbia maurice. canadian film director has told me that he thinks that whatever the sides may agree it will just be serbia making concessions . they're sending five hundred fifty more german troops and one hundred fifty more austrian troops. they would not be sending troops into kosovo if they didn't estimate that the situation could explode into a larger conflict and considering that the international community has an interest

in solving the so-called north cost of the issue it would not be unreasonable to suggest that they are trying to sort of fix this issue as fast as possible and i strongly believe that if force is necessary to do what they have planned they will use it this escalation of violence of course is not helping belgrade because. the people of serbia. see this as a provocation and it is making their sentiment against reaching a compromise. not not very favorable for tried her side so i think this is not definitely helping anybody whatever the both sides are urged to negotiate it is mostly for the reason to get the serbs to accept something rarely or albanians asked to make concessions to serbian serbia has already made many sessions of the so-called republican call so they recognize their documents their i.d.'s and their license plates so i think calling for the albanians to negotiations is another call

for serbs to accept more things that are just leading to serbia recognizing kosovo . by the way check out. our web site for plenty more stories and videos you can watch the news you want twenty four hours a day here's a taste of what's online if you right now. click on a terror suspect confesses to making the bomb that injured a five year old girl in eastern russia a homemade device was wrapped in the gift box and left on a kindergarten terrorists. on the web site of the moment allegedly russian military helicopters coming back to the front line in afghanistan but this time it's see the usa get all the details at all to see. before the business news with marina here's a story for you concerning heavy traffic and chaotic parking lot of course it's a daily headache and just about every major city of the world people unable to find a parking space will often just leave their cars in any available spot pavement or

a bus stop but the mayor of lithuania's capital vilnius has decided that the ticket isn't enough. you can see how he employed simple yet highly effective means to solve the problem the owner of this bill say he's pulled on the bicycle lane they just requested it comes all. over them the. video was published by the mayor's office as a reminder to those who violate traffic and parking rules. can only imagine the explosives being offered by its owner who we are told that the moment he will be parking there again. when he comes into the car anymore. well in about five minutes from the very own wall street inside the shady world of finance the car is a report for you before that though let's get the latest now from the world of business with marina.

hello and welcome to business here on ars now my new legal specialist in the points that in each of russians eight federal districts to help improve the investment climate the position of the so-called investment is the brainchild of praise the move and their role will be to breakdown administer said barriers and be a point of contact for investors with the central government's. term and others are major it is taking gas from the courts to get a lower price for russian gas the company argues spot prices are up to fifty dollars cheaper per thousand cubic meters than the current long term contract it has with gas from artists and the follicle that has all the details for us gazprom says it already revised the gas price for last year at that time persuaded gazprom to sell a partner with gas at a price linked to support prices which will lower their gas problems contracts now

eon is asking for further reductions the company's suffering have the losses due to the gap between the gas problems prize and that's only european markets which even third but gazprom wants to stick to its long term contracts which it says provide security for a customer at only a small premium to support prices the talks have lost to the for more than a year now without success so now iran is taking the matter to an arbitration court lawyers we've spoken to suggest it is that within the court's power to instruct gazprom to decrease what it charges but it would need a contractual reason to find in favor. staying with the story analysts claim russia's gas awfully is in a difficult position as a stock was to lose some profits or market share. the on another chairman partners their demands for more things actually especially they would like to surprise their concert on the hundred percent of support based i think that that's the key risk

actually for gas from losers profits from the other hand many criticism is from the european partners because they think that if guest from doesn't fall that kind of flexible strategy with european partners there will those market share so now that's the balance between the losing market share and lose in the profit. oh let's take a look at the markets now and the u.s. stocks are down as investors are still cautious about the prospects of a recovery and that's coupled with a report stating spending declined in june for the first time in almost two years. and in europe stock markets closed in the red with banks leading the declines the footsie end of the day almost one percent down of all the dax lost over it supersets. and that was a similar picture here in moscow both in the seas and of the trading session in

negative territory the arts yes dropped almost one percent more than my sex last point seven percent it's the second look at some individual movers on the my sex energy and banking stocks will weigh in on that in the seas pass from was down point seven percent of all the to be lost almost one percent in all russia's air carrier air force was holding its ground supported by positive results the company has almost doubled its net profit in the first half of the year reaching two hundred forty three million dollars alexander proof go add reticence capital wraps up the day's fate for us. there again we are host the juice all for us markets. european the problems today we will up one percent lower. actually the day to consumer sprained was previewed bad in spades but surprise in the didn't move markets for a little or maybe the main thing is that some b.

and go join so right now see if you're going to be q resistance levels and to broker this levels we have to have some efforts applied. and that's all the business news for now the headlines are next the bell.