if. it was really happening to the global economy in the kinds of reports. if. if if if . it's really holds crisis talks of the mounting debt problems sparking concerns it could be a little off to increase in style bailouts. supporters and opponents of hosni mubarak clashed racially outside the courtroom karl rove would have opposed an ailing president of egypt faces trial. if he could be charged with. killing one hundred people to keep on something that you categorically denied like me of an american from would be helping to get a candidate. divisions in the u.n. security council western countries press for an outright condemnation of the syrian

government and violence russia says that could damage the road to peace and calls for more balance. and business process proceeds from program instead of the bigger the government concerns of iraq and the stakes in the major oil companies will have more in the business and so i say that it's. internationalism comment this is r.t. live in moscow just turned nine pm here in the russian capital good to have you with us this. beleaguered europe is caught in stormy seas once again as italy has health crisis talks with the e.u. over its surging boring costs the country's bond yields have reached their highest level since the euro was adopted and when the prime minister silvio berlusconi has stopped short of asking for a bailout and our europe correspondent daniel bushell has more he was.

maybe you know markets no worse than who is a loser go along with their own shortly there is going to be no markets trying to reassure people that it's leave. the markets. out of the loop and you will. your strength said it added you want to stabilize and make you instantly stay and he didn't call for a page out of that sympathy here about so that it makes sense although the crisis will say that we're healthy tween a family and here is a find the kids don't tell you my god the heels on a tiny i'm full house which brick was level in your history you lot what if any have over to investigate them to pursue a suicide vest they didn't believe anything about sick abed if it was to be unsustainable and it's been over six then to them i was saying it was the prime

minister that the pharaoh dad's house will call a day and return and hike with the christ in madrid and italy national said of course it's much bigger than the current product which caused the war neither of the trouble of people here say here in italy the economy is just too big an i.p.o. in other words much bigger than green island of course you could put together a private big bulk of germany as in the euro zone and all the e.u. even if it does want to pay out italy it just costs more to do sleep over this whole of the huge very fabulous ending because when the hell i'm saying i'm willing to accept this and we heard one of the world's big men doing to my flashing and exposure to the economy and government said as well as to other countries such as greece ireland of course because a really investor the same we don't have confidence in your ability to slash your unsustainable debt level i'm here in the euro zone find a cheap safe that also is a call to literally we will continue our mediation in our investment show includes

a hundred really and the interesting thing is to say here is an interesting internal e-mails that are a way out because when greece went down they went to asia to close for investment and they had a big treasury car on a tour of asia trying to get those cars growing economies to buy italian bond now i need to claim that my world or of the hive describe baka treatment of the course but the can. well for more on what's facing italy we can now talk he's an economist with the independent think tank open in europe joining us live now in london thanks very much for being with us here on r.t. well as we just heard silvio berlusconi hasn't asked for a bailout yet but has he succeeded in calming investors today or do you think a rescue package is inevitable. well i don't think you'll succeed in calming investors but i don't think a bailout will be forthcoming in their future either simply because italy is far

too large to be bailed out by the current mechanisms in place in the euro zone i think that if the cancer avoids rising borrowing costs for the short term maybe six months to a year given the size of its economy but in the long term or it will make its debt unsustainable and increase its cost significantly and more importantly will undo the savings that it's making with its its new austerity budget ceasing settings really is a problem there's also you say italy is too large to be bailed out in other words are you saying that the e.u. simply couldn't afford to bail it out. well with its current mechanisms if you look at the size of the financial stability facility it's tops out four hundred forty billion the current market for it is loan is one point six trillion euros so even if they try to use this fund to buy up some italian bonds or provide some precautionary lines of credit new new additional measures that were agreed on the second greek bailout it's not clear how much difference they would really make

given the size of the italian economy and size of the bond market once the bond market turns against the italian economy which it looks to be at the moment and the costs keep spiraling out of control it's only a matter of time until they become unsustainable really ok certainly hunter salable and sustainable means well it just can't carry on like this so what are the implications obviously there's been talking greece of dropping the drachma what about italy what are the implications if it does prove to be totally unsustainable and the country does literally go glass. well the moment most of the fears about italy are from the eurozone crisis the whole so you really need to find a long term solution to the problems in greece portugal and ireland at the moment investors are wary of the lack of growth and competitiveness in the italian economy but that itself is not enough to explain the massive increase in yields that we're seeing so i think it really comes down to finding a long term solution to the rest of the eurozone crisis which will involve some for debt restructuring because there's no other way to return these countries to solvency and then some really strong reforms to compressing this members and

there's so many real members of the eurozone have got to be co-operative they've got to help each other now we're hearing that deutsche bank has reduced italian bond holdings severely cutting its exposure in the country is that not no a sign that the big banks are rushing to cover themselves here. but i think it does show a side of the investor panic and they're looking to reduce their exposure all around the euro zone and i think with them facing losses from private sector participation in the greek bailout there will be other banks following suit but obviously this is not indicative of the government's support. draw too many conclusions just from the single actions of of torture but it does suggest that there may be more tools from from other banks in the future but that remains to be seen i just ask you finally because to bring in spain now to the price increase obviously make it more expensive for the country to pour in the exactly the same way as italy do you think spain could actually now be using italy to a bailout. unfortunately we have

a race to the bottom here who gets to some extent well spain does have very large borrowing costs as well and a large amount of refinancing coming up over the next year and the costs are increasing slightly quicker than in italy the biggest problem spain is that it also has a significantly under capitalized and underwhelming summits that at the moment that was hit hard by the financial crisis also has bigger internal problems in terms of the repast real estate market and very poor economic growth as well so there are more problems really in the spanish economy itself and then you could see in the italian economy for instance but again it does look to have a bit more political stability at the moment although with the upcoming elections that adds another layer of uncertainty so both those countries the future isn't looking great at least in the near term. although you sound a little bit depressed about all this you explain it so clearly for us thanks very much for giving us your point of view and explaining what's happening at the moment

rather economists with open europe joining us live in london. but across the ocean though the world's largest economy has been rescued from the brink of collapse barack obama signed a bill to raise america's borrowing limit with just ten hours to spare before the country was due to defund after months of political wrangling democrats and republicans hammered out a last minute compromise which finally cleared both houses of congress over the deal is 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 wanted to keep social programs and have the richest americans pay more in tax despite the amounts this agreement credit giant to slap the u.s. with a negative economic forecast and poor's could still downgrade its triple a rating and i think actually good job reports many say that the u.s. is used to dishing out advice to others but 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 car the u.s. just had to swallow these people many student it will help the patients with coverage 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 the kind of deal with debt at the same time make it impossible for the government to play any role to save the economy in the economy is going down rapidly at some point shortly after the collapse of the soviet union russia became an american laborde tree for nearly broke economic theories but can americans take their own advice now to deal with their own economic crisis we live within your means the same advice they gave us

without knowing our economic and social realities. we to be russian for how did russia's central bank and the media period the year he took up the job in one thousand nine hundred ninety two so the worst for figure inflation in russia's history the us the sarra came to an answer the communist economy was in collapse and there was nothing to replace it with. so perhaps the situation was disastrous before he did it was over a hundred billion dollars in gold in foreign currency reserves was in fifty million which effectively means neal boortz people still reformists of the van government remember how in america's advice so-called shock therapy was a flight the markets might have got the therapy but the people got the shock and to shelves and mass all there was in as one politician said to you from a markets 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 a dead fish it took more than russia a decade to revive it's a quarry and return to economic growth transforming the country's fortunes after the disaster the nine hundred ninety s. but would be yes now the patient in dire need of economic theory will soon see the maps in the north was written up work both dogs. were america if they did not argue about art of. egypt's ousted president hosni mubarak is on trial in cairo for corruption and ordering the killing of some eight hundred forty people during the february uprisings a charge that could incur the death penalty outside the courtroom supporters clashed with his opponents one person was killed and further fifteen were injured as each side hold rocks and bottles at each other. is following developments for us

. well the judge presiding over the courtroom ruled that the trial of helping our children feel all this based is primarily due to health reasons i feel sad to see that practice remain at military hospital although i see in my and i'm college it. and the. parents have pride in that isn't it. people. i know adding trial i feel its conclusion. from that. but. irish people. think. that you are in fact believe that all of these reports are for how the thing with them cost the white.

house is high now that's like night also. that is in charge of. general that. the last congress don't. act on it and i don't. compromise the political alliances that remain in power for so long now if a child was surrounded by very happy security upgrades about five thousand dollars and then i would probably. clash with it tom daschle peter here in cairo to. the far. right also wrong there are a lot of cases that these trials are. of

the. earth actually the people. that if you were to write you had to. have heard me tell me over to my colleague and our reporter. 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 is read the people of egypt. this man has been running his own business for thirty five. it used to bring him enough money to send his son to started to canada and take his large family blow in one seeing between the economics of a station caused by and rest and political uncertainty comments in the prize has been badly affected now he can value food to feed his children he says the wind of

change may have brought freedom to egypt it is drawn to survival strong in its wake . but you know i love the revolution when it happened i welcomed a good look but the time with a light at the end of the tunnel you see it's not getting better we have nothing to eat just don't tell me about the market 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 thirteen 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 five months on there is little satisfaction and dictator free egypt is far from the best place to be. but people are getting very tired and they are

getting ready hoppers the people now talking about mubarak as well not only that they. will be a bit of long and this impact and they're very sad it is that people are indeed tired even those who backed 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 you know i must say 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 right now but we do need to wait for a little longer. recentre need to mistreat sions in the square show that this choice is that has been pushed to the limit and it's traitorous versus patience and the battle to save egypt's from crumbling further grief and action or r.t. kyra. check out our web site it's r t dot com for more stories news and video in

addition to what you see here on the screen here's a sample of what's not up for you right now should you click on the silence of voices. many countries are now gripped by antigovernment protests but in israel demonstrators are hungry not just for economic reforms but also for international media attention. and pop goes the president find out by the georgian leadership his love of music might strike a chord in the hearts of his people. there's no sign of violence letting up in syria the crackdown on protests continues as government tanks reportedly move into central hummer the opposition stronghold more than a hundred people are said have been killed over the past few days meanwhile the u.n. is locked in debate over what action to take on the crisis and let's get more now from marty's marina up or she is in new york and the u.n. security council has yet to come up with any concrete decision so what are the main disagreements at the moment. well bill this is the third day the security

council members have gathered together to try to reach some type of consensus what we know right now is that they're working towards a presidential statement and for that all fifteen members need to agree on all the text that is written in this statement what we know that they have agreed on is calling for an end to all the violence but there is there is a divide between whether or not the draft the presidential protection include violence against security forces the west western countries and the u.s. do not consider there to be violence against security forces they believe that the civilians in syria are demonstrating have been have been assaulted and there's been a crackdown against them but there are other members of the security council that see the circumstance of it differently which brings us to the story and why it's taking so long but we do know the international community is working to try to

reach a consensus to put a statement out for syria to listen to now the russian ambassador to the united nations vitaly churkin did address the media saying it's no secret that the u.s. and western countries think that the mask is is to blame for the violence of in place in syria for more than four months and by just putting pressure on syria possibly this problem would go away but russia and other security council members don't see the circumstance so black and white and that the task of the security council is to push both sides towards dialogue and. the circumstance to end in a more peaceful manner take a listen to what he had to say. we're concerned about the well and some of these collusion of the globe and saying that under these circumstances the security council could and should positive signal in favor of only the goal of. ending the violence some of the positions he thought. reaching in terms of leaning

on one side which is detrimental to the objective picture. 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 where syria is funny and so. now build a draft presidential statement that i have seen also calls for the respect of human rights for there to be a national investigation into all of the violence and for those responsible for the violence to be held accountable this is again just the draft that i've seen of a presidential statement but should underscore all fifteen members need to agree on this text for it to be adopted and then announced and that's what we're standing by to wait and see if that will happen fun and really just give us a brief amount of what brought syria to the situation we're seeing that today.

well you referenced what is happening in syria right now but this is a problem that's been taking place since mid march anti-government protesters coming out into the streets calling for the president assad's government to step down for the president and his government to be removed and since then we have seen over the world the scene images of a crackdown on all the demonstrators all the anti-government demonstrators and there's been reports that more than a thousand people have been killed the numbers are as high as seven hundred people but those numbers cannot be verified we do know clearly there is a violent conflict that's been ongoing i mean her community is trying to figure out a way to solve it right now it doesn't look too safe for peaceful in syria really thanks very much indeed for that update live from new york qualities. order for

business news time now to update you on some more of our international news this hour in our world update and four people have been killed and thirteen others injured after western baghdad was struck by twin explosions officials say the bombs targeted a liquor store the first one brought police and witnesses rushing to the seemed to be caught by the second blast a few minutes later this comes after iraq's political leaders gave the go ahead for talks aimed at keeping u.s. troops in the country on a training mission. japan has passed a law to help tokyo electric power paid compensation to victims of the fukushima nuclear disaster the crisis forced almost eighty thousand people to move from around the crippled plant the fisheries and tourist industries in the area also. the government is expected to pitch in an initial twenty six billion dollars in special bonds but the eventual cost could be far higher. hundreds of troops have been deployed in the city of karachi in attempts to end ongoing violence that has killed almost sixty people in five days reports say bodies were found scattered

across different parts of pakistan's largest city sun riddled with bullets and showing signs of torture at least believe around two hundred people were killed in the city last month alone so the fighting has been blamed on supporters of the country's main political parties. in australia police are freely young woman trapped in their own home with a bum reportedly attached to her neck one thousand year old called police from a house in a wealthy neighborhood in sydney bomb squad worked for nearly ten hours to remove the device and the girls told an income to an operation to avoid an explosion some reports suggest it may have been an attempt to hold the teenager to ransom. brings up date for the moment coming up but very short our special report on the us led invasion of iraq in the aftermath of the war before that marina joins us now for a business update. hello and welcome to business here on r.t. so russia sets to launch its most ambitious privatization program since the one

nine hundred ninety s. the government ends to fully sell a number of major state companies and our teams are going to school our house all of. us. it really is safe to say that this is a deal or just privatization one in russia since the ninety's they're talking about some really huge companies like russia second largest bank he beat or electricity generator producer. airport in moscow and softball in florida watch freight company all of them are going to be privatized in the next two years the government only plans to leave the so-called golden share which will enable it to you know some of the decisions of the new holders you know probably one of the most interesting so small on this list to be privatized is going to last us to russia's largest oil company the leader in the petroleum industry is actively explores and develops in the most regions of russia it's also one of the biggest public companies since

fifteen percent of its shares are all in that are floating all over the market seventy five percent of the shares to longs to be staged but the government wants to reduce this figure as soon as by twenty fourteen they want to see the state control fifty percent plus one share or force in the us and that will be after the first stake is sold it is expected that that should bring around thirty billion dollars into the state budget and also expected that the second stage should be twenty five to fifty percent more expensive so that would bring even more cash into the state budget all of this is part of this huge privatization one ward by the president and its goal is to prioritize. a lot of street by g. seventeen. oh let's have a look at the markets now all oil prices continue to fall this hour investors

spread about signs of a slowing u.s. economy may falter feel the round in the world's very discrete consumation futures dropped as much as one percent on wednesday after the unexpected fall of u.s. consumer spending. and gold is edging ask concerns that the u.s. economy's faltering are of boosting demand for safe haven the yellow metal is adding seven dollars while silver is up ninety six cents. over in the u.s. we saw wallace all trading on the markets they are in the red this hour this points of better than anticipated report on labor and this is the recession in the role of the markets are down making it the longest losing streak in nearly three years. and here in moscow markets closed in negative territory tracking losses in europe and asia both the arts yes and the my sex laws all over three sides let's take a look at some individual moves on the my sex and originators were among them a losers and weighed by lowered food price gascoyne went down almost four for signs

banking stocks were also down with the to be losing three and a half percent spots bucking the trifles hollywood's gold adding point six percent on stronger precious metals. that's all for me this hour join us for the top thanks in about fifteen minutes and the inside states and for the headlines with bell.

move. for the full story we've got it from. the biggest issues get a human voice face to face with the news makers.