in india in the movie joyce the hotel. the gateway hotel the grand imperial truly told us the. socialist.

don't need to go and. run the said the colonel was toto retreat. supporters and opponents of hosni mubarak clash frankly outside the court in cairo where the deposed president of egypt faces trial. if they feel the charges the kind of killing that it come to these people something that you categorically denied joining up kind of look at from the would be helping the candidate. it's a crisis talks with the e.u. over its mounting debt problems sparking concerns it could be on the path to a greece style. divisions in the u.n. security council western countries press for and. the syrian government the violence russia meantime says that the road to peace is.

a very warm welcome to you this is our life from moscow the man who ruled egypt with an iron fist for thirty years is on trial for the february uprising that ousted him from power hosni mubarak is accused of corruption and ordering the killing of some eight hundred forty people that's a charge that carries the death penalty. the reports from outside the court in cairo for. well the judge presiding over the courtroom role that the trial of. jordan sealed aug fifteenth primarily due to health reasons i'm still expected to remain at a military hospital overseen by an m. college if he's. concerned his defense side insists that he is in the. people that's actually preventing him from.

buying and i think at the trial i feel its conclusion. that you are slipping in and out of that suffering from. some pretty process but. i wrote people. back in january and believe that all these reports are for house and nothing more than just the actually supply. tried to prevent the part from testifying they believe that that's played nicely also. that it's in charge of it because many of the generals that out. so i'll have a little bit of farrakhan's some of these testimonies. why don't some of my. come from i think political alliances that helped him to remain in power for so long now

as the child was surrounded by a very happy security operation about five thousand police and that's private police. here at the tribes the clashes become essentially a feature of the day here in cairo. as far as. i'm. sure it's all wrong there are a lot of abstract faces that patch to the shroud. not going to crest at. very healthy. revolution first that certainly the people. that it was because they knew. that certain economy how many people were disillusioned that my colleague mary international and how important this quaint cairo is now one of the most famous in the world many around the globe even those with little knowledge of arabic know its name means liberation well the revolution of january

put this part of the globe on the map but apart from that what else did it bring the people of egypt. this man has been running his own business for thirty five years it used to bring him enough money to send his son to study to canada and take his large family abroad once. but with the economic to the station caused by and rest and political uncertainty mahomet's into price has been badly affected now he can barely a food to feed his children he says the wind of change may have brought freedom to egypt but it's brought a survival stone in its wake. you know i love the revolution when it happened i welcomed it that looked at the time like a light at the end of the tunnel we see it's not getting better we have nothing to eat just don't tell me about democracy for hungry people it just doesn't matter.

the plight of poverty fuel the revolution your growth has dropped from five to just one percent some thirty million people live below the breadline unemployment has hit twelve percent. egypt's revolution was regarded as the most successful arab spring chapter it took eighteen days to end one of the world's longest dictatorships the five months on there is little satisfaction and dictator free egypt is far from the best place to lead. the people. but people now are popping about as much better than a day is today about evolution and this in fact is their very sad that is out people are indeed tired even those who back the changes this young man is from the revolution youth caliche and he tries to remain optimistic because he says sounds

a lot like south conviction that it gave us a we've been living under mubarak for many many years too many i'd say but it's great what we did but we do need to be more patient and this is difficult we have a lot of problems great man but we do need to wait for a little longer. recentre need demonstrations in africa square show that there's tyson has been pushed to the limit and it's protests versus patients and the battle to save egypt from crumbling through their grief an optional r t cairo. are now a far more on mubarak's trial of the situation in egypt we're going to talk to william engdahl who's written extensively on egypt's revolution now joining us live from frankfurt are good to see you so just how likely are we to see of the trial here considering many people in egypt believe the prosecutors are corrupt. well i think as your earlier commentary suggested there has been no revolution in egypt i said so and in our t.v. interview in late january i believe exactly that would be the outcome because this

was incited from the outside it was designed to get rid of mubarak who was a thorn in the side of the obama middle east policy and put the same people in there with it with a different face at the top so as to whether the trial of mubarak will be will be a fair trial or not i think that really is beside the point at this juncture it's interesting that you say a position to put in the same people at the top many others are saying yeah you know it's mubarak's henchmen who are now running the military transitional government at the moment now over the past few months there have been sit ins sit in protests in cairo demanding foster reforms in the country how much has actually changed in egypt since february is revolution well i think a lot has changed and it's largely unfortunately change for the worse the economy as you noted has plunged since since the events of january. the tourism is not going to be bombed back anytime soon but even even still there was

a rather healthy growth curve in the last several years even while mubarak was still in power and that that has dramatically changed for the worse this never was about democracy in the first place a lot of youth were brought onto the streets under the illusion that it was but it never was and the military command was sitting in the pentagon all these events were unfolding getting coaching from the joint chiefs of staff in the u.s. so that can give you an idea of where this is headed so you talk about the illusion of democracy but tell us this has the situation in egypt has it improved. it works and it's definitely worsened and now you have the muslim brotherhood position to become the leading political party in the in the elections when they're held that doesn't bode bode well at all for egypt this is a country with the secular tradition and the economic situation is getting worse so i don't think young people have more democracy i think perhaps they have even less now as some people in egypt accused the military

government of having a little or no intention of fulfilling their revolutions demond why would that be thing well i think the military high command has. if you will as mubarak had before one name in mind and that is to entrench themselves in color quite firmly and if anyone gets in their way that's going to be something they'll deal with now on monday and tuesday we have had egypt's armed forces now they moved in to clear protesters from the center in congress is egypt really on the road to democracy at the moment wouldn't even democracy work in such a culture if you think and you think they want it i think this term democracy is one of the most misused words in the english language and misunderstood words. i think a transition to a more participatory form of government is one thing but democracy is as a cure all is it is a delusion and in most parts of the world including in the west. has very little

democracy in countries like the u.s. or in most european countries or to political parties who are financed by the same special interest groups that come to the same answers with different faces and whether it's george bush barak obama or whether all right william engdahl live from frank but thank you very much thank you. well a new storm is brewing and beleaguered europe as italy enters crisis talks with the e.u. over its borrowing costs the country's bond yields have reached their highest level since the year i was adopted spain is facing the same problem as traders rush to rid themselves of risky investments let's not get more from european europe correspondent daniel bushell daniel higher so how bad is it that we had it for another year as i'm bailout here yet again. people and politicians here in brussels are very angry and very worried because they're feeling they've been lied to yet again i mean the first greek bailout they were told never again by e.u. leaders then of course came portugal and ireland then a second greek bailout now it's really is in crisis talks it's been in crisis talks

today in luxembourg with john claude. finance chief and they've been talking about something called the yields we're going to be hearing a lot about that in future because over six percent are considered unsustainable that means the amount of money that italy has to offer the percentage of return it has to offer to investors to get them to invest yields on italian ten year national have gone over six percent to six point spain's been at six point three percent spain obviously another big concern the prime minister there jose luis zapatero has canceled his holiday to return and deal with the crisis in spain italy is national that is also higher than its gross domestic product so that's another thing that people are saying go on to the trouble is it's in these economy is much bigger than . the oil and put together so even if the e.u. wanted to bail them out there's a real question will question whether it could do and there are many many saying

that it's a stormy future for the eurozone greece is second rescue package less than two weeks ago it failed to lift the clouds over the euro zone what's being done to limit the damage. well it's a nice poem last month polls huge spending cuts but the trouble is it seems the italian people on going to going to plan a national strike if the government goes through with its cuts now an interesting thing is silvio berlusconi the prime minister of italy has cancelled put back the speech on the issue until after the markets closed today now that could be a song that he has something to say which could short the markets once again europe is turning to move the markets for a way out of the head of italy's treasury is in the age of four of four attempts to drum up support and to get money and to get people to invest in those italian bombs so people are once again turning to as greece did to the falls growing economies in

emerging markets. because we will continue mediation in combe of those talks with the silly the trouble is that investors are voting with their feet and they really are the ones who decide one of the world's biggest bank has slashed its exposure to the news has just come out as cultists exposure to italy significantly as well as to the other troubled states of greece ireland and portugal so investors are really saying that they don't have confidence despite the words of the u. leaders the countries can deal with the problems and the e.u. chief. has described just now the market treatment as a cause with the. yes very interesting what you say to you about deutsche bank shutting eighty eight percent of its responsibility there in the past six seven months alone also a very good point you make about italy silvio berlusconi holding off to make a speech until after the markets close what does that mean a scary future speech are coming coming our way later daniel thank you.

for the economics journalist patrick young says a bailout will be disastrous for the entire eurozone. rypien unions bailout fund is on the verge of running out of money as soon as one of those major economies such a spanner italy default and every day the market is saying it is terrified of the debt that has been built up in the system and it's appalled by the fact that nobody in the eurozone wants to actually lead a sight of this problem if italy asks for a bailout there simply isn't going to be enough money there in order to manage to pay it at the same time we've got a problem because banks in france and germany well they're very much split the big banks are finding ways to try and reduce their risk and reduce their profile of debt in these lesser quality nations the big banks are moving very quickly to get out of this debt i think the problem is that they're using quite sophisticated derivative instruments often in order to reduce their holdings and the problem is those instruments aren't necessarily available to smaller banks in the sea in big

countries like france and germany so we actually have a problem because when mrs merkel or mr sarkozy looks at the problem tonight they've got a situation where the big banks may be able to say if you i'm ok i've got out of this problem but actually the smaller banks are the ones who are going to be left holding the baby actually italian hogs holds by a huge a mind of a tile in government bonds and that's always been a very steady business but at the same time somewhere along the line you need to sell some of your bond issues to overseas investors and if a bank like deutsche of buying basically says we don't want to hold government bonds there are lots of other foreign investors are going to say gosh i could be on to something we don't want to buy those bonds either and the problem for italy is it has a lot of refunding coming up in the course of the next six months in other words it needs to sell a lot of debts no one in the euro zone wants to cure the problem they simply want to throw effectively aspirin to cure an appendicitis annoying everyone is gradually

getting the appendicitis throughout the euro zone and unfortunately the way to cure appendicitis is actually surgery. well across the ocean though the world's largest economy has been rescued from the brink of collapse barack obama signed the bill to raise america's borrowing limit with just ten hours to spare before the country was due to default after months of political wrangling democrats and republicans hammered out a last minute compromise which finally cleared both houses of congress however the deal to increase the u.s. debt ceiling by almost two and a half trillion dollars is viewed as less than perfect by both parties many republicans pushed for less government spending democrats however wanted to keep social programs and have the richest americans pay more in taxes but despite the last ditch agreement credit giant moody's has slapped the u.s. with a negative economic forecast while standard and poor's could still downgrade is aaa rating that's all. over now reports many say that the u.s.

is used to dishing out advice to others but may be less accustomed to helping itself. congress has now approved a compromise to reduce the deficit and avert a default that would have devastated our economy the u.s. just had to swallow this bitter pill but many still down to it will help the patient's recovery but will instead prove to be a poisoned chalice our economy is not growing at all in fact unemployment remains very high foreclosures remain very high no recovery is taking place and are we on a suicide mission we may be gesturing you know to kind of deal with debt at the same time make it impossible for the government to play any role to save the economy an economy is going down rapidly at some point shortly after the collapse of the soviet union russia became an american laborde tree for nearly economic theories but can americans take their own advice now to deal with their own

economic crisis repressive live within your means the same advice they gave us without knowing our economic and social realities and we were. big to be russian guy had it russia central bank in the immediate post soviet period the year he took up the job in one thousand nine hundred two so the worst four figure inflation in russia's history the us the sarra came to nando's the communist economy was in collapse but there was nothing to replace it with. supports the situation was disastrous for it did it was over one hundred billion dollars in gold in foreign currency reserves well listen fifty million which effectively means nil. people still reformists of the damn government remember holland america's advice so-called shock therapy was a plot the markets might have got the therapy but the people got the shock and to shelves and must pull their business goes or as one politician said to me from

a market to a communist economy is easier it's like trying to turn your query into fish soup but to do the opposite is much harder it's like trying to revive the dead fish it took more than russia a decade to revive its a quarry him and return to economic growth transforming the country's fortunes after the disaster of the nine hundred ninety s. but with the us now the patient in dire need it could all make surgery will soon see the maps and they thought it was good enough for both saw the russia will be fit for america it's in the direction of art. and art and not twenty minutes past the hour here in the russian capital you without say there is no sign of violence in syria lighting up the crackdown on protests continues amid reports of government tanks moving into the center of the opposition stronghold of hama over one hundred people are said to have been killed over the past few days meanwhile the u.n. is locked in debate over what action to take on the crisis. is in new york. there

is a divide among security council members on where the condemnation lies the u.s. and its western allies believe there should be a direct condemnation against the syrian government and the syrian president for the crackdown against anti-government protesters that have been taking place since mid march yet other countries like russia china india brazil and others believe that there should be a much more balanced approach that whatever words are used in any text that is put forth by the security council should not exacerbate an already sensitive circumstance in syria now russia has said in the past that it opposes on balanced measures such as sanctions that could create an even bigger problem and the russian ambassador to the united nations vitaly churkin has said that the resolution dealing with libya he believes was dealt with very frivolously and the security

council can't help but keep that in mind when contemplating what the security council can and can not do when it comes to the situation in syria we're concerned about the violence and this collision of the conflict and we're seeing that these circumstances the security council could and should. those that have signaled in favor of political accommodation and ending the violence some of the positions to flood iching in terms of leaning on one side which is detrimental to the objective picture. two. of the russian delegation shared by some other members of the security council to do everything possible in order to. pull away from the brink of a civil war with syria is finding itself russia and many other security council members believe that the text of any draft resolution or presidential statement

should be aimed at changing things on the ground in syria to send a strong. signal the violence and move things forward peacefully now we do know the security council members will continue discussing this matter and what is clear is that the international community is trying to reach some type of consensus to help end the violence that's been taking place in syria for more than four months. reporting right there from new york while they're talking about the ongoing protest movement in syria some analysts doubt the opposition accurately reflects public opinion in the country as political expert michelle or says the gap between the two conflicting sides is only one. question we have to ask ourselves is what is underlying cause of this of this so-called protest movement it looks more like an old insurrection with god which is supported by the muslim brotherhood all these events in effect. from the summit groups the city of hama is

a stronghold of the muslim brotherhood and the seriously this is a confrontation between the muslim brotherhood and the government i do not think that it reflects generally public opinion in syria which is committed to a secular move muslim society. now you can also catch up with all the latest developments unfolding in syria online at our c dot com i get our crews view from the ground as we take you to the city of homs to give you a firsthand account of events directly from the heart of the protests. also take me to your leader. in russia and it's more human to extraterrestrial visitors unveiled in the area of. high numbers of reported sightings all that much much more and.

more and i'll be back with a recap of today's main stories that will be after with the business now. hello and welcome to business here on ars now russia is considering the full privatization of one of its oil majors ross neff by twenty seven seen the government's already plans to saw a third of the company leave in the control and stake untouched while artists are going to school has all the details for us and he joins us now live hello to your daughter well what can you tell us about this. well according to a presidential aide out of the government has proposed to fully privatized us and you have to buy a twenty seven team now and talks about this have been going on for quite some time around two weeks ago president maybe if said he didn't want to rush with the privatization process since it is a russia's biggest oil company so the authorities are going to be taking the whole

process step by step it's one term that by twenty four team that the government will own fifty percent plus one share all photos and it's also planned that the first state will bring around thirty billion dollars to the state budget it's also expected that the state of the second state will be twenty five to fifty percent more expensive thus bringing even more cash into the state budget girlies seventy five percent owned by the state the company is believed or all for russia's petroleum industry it's also actively exploring and developing oil fields in most regions off russia also in kazakhstan and algeria and also the company all these various pipelines shipping and more heating companies so it is quite attractive for possible future owners there. thank you so much those are two

to zero. bringing us all the details on the privatization plans thank you very much . and now let's take a look at the markets and most are with oil prices which continue to fall this hour and that's as investors about that signs of a slowing u.s. economy may fall to fuel demand in the world's biggest crew can see the nation teachers dropped as much as one percent on wednesday and that's after the unexpected fall u.s. consumer spending. and gold is edging us concerns that the u.s. economy is faltering are a boost in demand for safe haven the yellow metal is trading a half a percent higher while silver is adding well as you can see there overt supersets let's take a look at what's happened in the u.s. markets they have now opened and they are down and that's despite investors as they're cautious off there and better than anticipated reports on labor which they

did manage to pull the indices higher there let's take a look at what's happening in europe stock markets are lower on the heels of sharp losses in the u.s. and asia among the worst performers our society asia they're all which dropped six point six percent after reporting a thirty one percent drop in second quarter that profits all the banks are mostly lower as well but that's except for sather chartered which rose two point two percent in london after the line there reported its once a percent rise in its first half profits. and here in moscow markets are diving into negative territory as well tracking losses in europe and asia it's a sea of red everywhere both the r.t.s. on the my six are losing over two percent this hour let's take a look at some individual movers on the my sax there jim majors are among the main losers swayed by a low of crude price gas from as their own over two percent swallowed roll snuff this one point three percent in the red banking stocks are also down would be to be losing two point one percent this hour but bucking the trend this hole is gold

adding zero point six percent on stronger precious metals. and that's all that is assessed for analogy on us for another update in about fifteen minutes from now in the meantime states in for the headlines with henri. for the full story we've got it firsthand.