joins me that shows the l a v let's begin with the grand imperial. george was the coromandel you can a listen to joe joe's machine which its ability to go clear in the beginning was that you know this is going to treat. the meat sauce stories from our team that simple way that's now america's accounting exile to its credit crowd is taking down a block in the ratings as investors shutter over how the debt ceiling race was handled. around it all the walk you need on local markets with wall street's worst week in over two years was worsened by europe's debt seven years of a second a possible american session. as egypt's former president goes on trial for mass killing and corruption a louis public see the replacement regime with failing to meet the revolutions demands. bought in neighboring easier all the reform rallies swell to work quarter

of a million people in television angry that the government's left living costs get out of. ten am here in moscow you're watching r t and we bring you this week's top stories so higher borrowing costs weakening business and consumer confidence as well as slimmer chances of recovery all these are the potential riffle ripple effects for the united states after its talk here aaa credit rating was cut by one notch solid and poor's took the unprecedented move of dropping america's ranking to a double a plus it has outlook white house officials are on the defensive saying there's a two trillion dollar mistake s. and p. admitted that it is sticking with its decision to say it is objective well it's the spike of last minute debt deal which narrowly rescued the country from default but

the damage was already dark as the political haggling undermined investors' trust economist max fred wolf says brace yourself for a stock market roller coaster on monday. i do think that sunday night local time here and in new york or monday morning for asia when the markets open in new zealand australia and then quickly thereafter in northeast asia we're going to see some of the dislocation that we had all feared i was we kind of headed into this disaster over the last month or two complicated which is actually mentioned in the press release complicated by the complete dysfunction of the u.s. congress we're going to see another shock wave hit into a global economy and global financial markets that spent the last week fall and got a flight of stairs so i think we're at a fairly constant requirement here and while there's no good time to be downgraded the timing of this s. and p. downgrade of the u.s. from aaa could double a plus could not be worse it sets up an environment in which symbolically politically and economically the united states leadership the global

economy has another kind of strike against it and it does reduce people's confidence i think quite ironically you might see people buying u.s. treasuries and selling other credits as a general like the quality people get scared they run away from riskier assets i mean ron in fact just those u.s. treasuries that were just downgraded i think the bigger risk is to the word huge market with a very fragile situation in u.s. housing as well as car loans credit conditions generally and i would remind people too that ason pete didn't just downgrade the united states they put us on further downgrade watch so they're suggesting that this downgrade may be make it beginning of a process and not be am told america's ratings cut has met with a response internationally china's demanding independent supervision over u.s. dollar operations and is calling for a new stable reserve currency and asia's third largest economy and finance minister

called the situation grave and singapore based investor at all says their exile is justified. all the asians already know that america's got problems all of us are already moving out of u.s. government bonds we never got out of the first global recession unemployment in america is still higher than it was in two thousand and eight the american debt has skyrocketed and gone through that get through the roof america's in worse shape now than it was before america spent a lot of money and people who got bad money ok there are but the overall situation is much worse america's quadrupled its dead america if you take in they consider things that they guaranteed they printed huge amounts of money you know the world has gotten worse or hasn't gotten better provision of the u.s. will depart that's why people are moving away from us government bonds because everybody knows that the us is in serious trouble and the debt situation is getting worse and worse not better and better well it took months of political squabbling

before the eleventh hour deal was struck to raise america's debt ceiling but it was still not enough to stave off a credit score drop as artie's body a fortnight explains investors are ready to move out of the united states because of its increasingly fractured fiscal reputation. help us avoid a default debt ceiling nation default and this crisis time's running out the entire world is watching it's been a public spectacle filled with bickering grandstanding and lack of compromise i divisive 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 and what happens now everybody really thinks the united states isn't so secure it isn't so safe even if the craziness subsides it seems to have gotten real close and who knows whether the next month next year this won't blow up again since the underlying causes economic problems

are getting worse in this country plus 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 there is someone. near the richer you will know better why do i almost. put up with this relationship the us will be. the only game in the european community is making noises chinese make you new issues or you know we're alone now or believe the repository for. the results could spark a replay of the two thousand and eight economic meltdown except this time washington not wall street would be responsible 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 that'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 that 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 seven e-mail tweet keep the pressure on washington and we can get past this while the eyes of the world have been following the heated saga playing out between u.s. politicians and main problem not going away it's america's debt and a growing realisation that elected officials may never be capable of agreeing on how to solve it. r.t. new york will transform cassar gerald celente told r t that despite last ditch it's have to solve which a debt strategy the us is doomed for another great depression the american

economy as well as much of the global economy is heading into the greatest depression anything everything that they're doing is not going to salvage you the great depression is underway and all they're doing is trying to make it look as though they have a plan to stave it off they're not going to you know what's a reputation a reputation is by what you deliver the united states can't deliver the united states can't deliver on its wars that loses wars where the iraq afghanistan the war on drugs to war with libya they're losers the government did everything that they touch and look at all the trillions of dollars the tens of trillions that have been pumped into the system since the panic of zero eight struck by the federal reserve by d.c. with stimulus bailouts too big to fail everything they do they turn to failure why would any thinking adult look at the republicans and the democrats next and the incompetence to come up with

a program that's going to salvage the nation investors having confidence looking to the same people that caused the problem to resolve it that's called insanity the business of america when i used to be a young man it used to be business now the business of america is war. oh goal return to the economic woes afflicting of both sides of the atlantic a little later in the program the world why the panic selling as investors jettison of their shares in the worst week for stock markets since two thousand and eight. their job shows are finally seeing their former president face trial for killing and corruption but many feel they have yet to see the revolution which the posed bear any real fruit was they will deny the charges against him at the opening of his hearing where he's accused of ordering the deaths of protesters back in february the trial is expected to last eight days and you could see mubarak facing death sounds as if convicted baby three year old has

a hospital bed where he appeared alongside with this two sons a top aides were also accused of corruption and mass killing for the egyptian people unemployment is at an all time high millions are struggling to make ends meet archy's be a financial reports now from egypt. 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 really 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 . but with the economic devastation caused by and rastan political uncertainty mohammed's enterprise has been actually now he can barely afford to feed his

children he says the wind of change me brought freedom to egypt and he's brought a survivalist home and it's great. but if i was really like iraq but you know i love the revolution well enough and i welcomed it but it looked at the time we call life at the end of the. finally you 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 thirteen million people live below the breadline unemployment has hit twelve percent. egypt's revolution was regarded as the most successful arab spring chapter and it took eighteen days to enjoy 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 live and the people getting ready.

and getting ready hoppers. will now talking about more. than a day. when they are going to bloom and it's been back and they're very sad but it is our people are indeed tired even those who backed the changes this young man is from the revolutionary youth caliche and he tries to remain optimistic because he says it sounds a lot like south conviction that he got out of the state 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 big square show the best choice system has been pushed to the limit and it's protests versus patients and the battle to save egypt's from crumbling farraday rafe an option or r t cairo.

all egyptians are slowly realizing they're a long way from seeing the benefits of their own revolution only a bangle who's written extensively on egypt's uprising says they fell prey to a political game. 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 of middle east policy and put the same people in there with it with a different face at the top a lot has changed and it's largely unfortunately changed for the worse the economy plunged since the events of january. the tourism is not going to be bombed back any time soon but even even still there was a rather healthy growth curve in the last several years even although brock was still in power and that is 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 and now you have the muslim brotherhood positioned to become the leading political party in the in the elections when they're held. that doesn't bode well at all for just so i don't think young people have more democracy i think perhaps they have an even less . but things are firing up in neighboring israel television seen its biggest ever rally reform with up to a quarter of a million people gathering as well as similar protests nationwide israelis around griot the high cost of living and on affordable housing on sunday morning the finance minister pledge that the government will finally do something to tackle the yani what i want to live with street has already been labeled by some as talking of what are the ends up to the side which is uprising started as policy or reports they're concerned it's taking this much pressure to get any kind of reaction. tens of thousands on the streets of israel angry about and protesting for change

but is anyone listening when it comes to a lot of the foreign media want to see more of an action movie and this has been very violent it's been very had been violent and also 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. correct they didn't a young a woman set up a tent like the editors of france twenty four b.b.c. and sky coughed up just a few meager seconds perhaps not even that interesting to. back. in the studios ok there's a protest well what exactly is the protest a social protest for the revolution it's not the same kind of story the pollution is not as big and dramatic as some of the bigger revolutions happening around the middle east and 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 international media has put israel in and that is the israeli palestinian conflict also israeli lebanese and syrian conflict and anything that doesn't kind of put into that is not in. media of of news item which is unfortunate that just makes hundred reyes and others angry for nine days she's been camping here furious that she can't make ends meet as a university student to make sail said that when egypt decided to stand up and say we've had enough and when in lebanon they decided to say we've had enough the media was all over there i haven't seen anyone from c.n.n. or fox news or any other big news channel here and it's really sad we also deserve a chance to be heard out on the streets has been dubbed tough here cornered by some of the people here an optimism perhaps the base can bring down the government in

the way the neighbors in tough his square. bus was the plan was they will stop here they push us and. well that was our t's'pol asli are reporting from by television that of course we're keeping a close eye on developments in israel at r.t. dot com and if you follow our twitter feed here straight from our worldwide correspondence with the latest news updates and archie under score card and on our facebook you can search for our team news and you'll find out top videos stories ready and waiting for you and you can also join the discussion on what you've seen on air and there's a rapidly expanding and extensive channel on you tube other ports and programs available whenever you want them to subscribe to was an explorer of news from russia around the world. didn't take three. three. three.

three. three. three blogs videos for your media project free media r.t. dot com. it's been a bruising week for the world's stock markets the worst this is the credit crunch first hit home and it made up over two thousand eight well this time it's over fears of a double dip recession in the us as well as the mounting debt concerns the market turbo will be discussed in an emergency phone conference of the g seven finance chiefs later on sunday and earlier this week the european commission president joined the fight that thought that the national polls calling for the e.u. bailout want to fix that may help deal with the question to save money rowboats also wants the fund to be able to buy government bonds the crisis is now in the gulf to have its largest economies italy and spain both countries saw their borrowing costs shoot up again but even on external as patrick young says the banks

have to stop cashing in on the troubles. begin repeating huge bailout fund is on the verge of running out of money as should one of the. major economy such a spin or at least a fault and every day the market is saying it is terrified of the death has been built up in the system and it's a bold by the fact that nobody in the eurozone wants to actually lead a side of this problem i think the public is being kept in the dark and it's been sent a lot of smooth messages from the political classes that don't really hold up to the stark reality of markets i think the problem is that ultimately banks are going to have to lose money as part of this entire play they originally bought a lot of these bonds thinking there will be an endless nirvana of cheap interest rates for all of these countries and effectively they give it up players over governments need to step in they need to restructure the market and we actually need to see that demon the word the thought in other words some of the boards have to go bust or the bonds have to be restructured and ultimately some pyrenean must

end up with the bank's economic analysts michael ross says it's not the euro debt which triggered the market panic but rather the political wrangling in washington. i tell you one thing this is not a normal crisis and this was not the normal crash that we had this week. it was the beginning of the end what it's doing is that has three got all these problems illness is called get all western nations over don't lose their credibility and what happens when they lose their credibility then banks are going bankrupt and i'll tell you another thing only in a short time all burns all of the most important banks worldwide in the western world will be taken over by government by the government and another thing it's not the discussion of the euro and the debts in your of this is of course problematic issue it was the discussion about the debt ceiling united states that triggered all

this mess. well turning briefly to more of today's world news a riot is flared up in north london as protesters angry attacked police over the fatal shooting of a twenty nine year old ran last week riders through a petrol bombs that officers as well as buildings a bus and police patrol cars shops were also looted and more than three hundred were involved in what began as a march to the marriott justice for the killing. total of move her house where passion and harvest got a hearing its way north along a trial as east coast well there are no reports of casualties as the heavy rains so the city however about five thousand people had been evacuated to safety as the port of braces itself for the storm air travel over eastern china was disrupted overnight but it was getting back on track. a veterans of the a nazi s.s. gathered in a storm here to commemorate a battle with the soviet red army such meetings are widely banned in europe as

a glorification of nots ism but at the same time a rival anti fascist rally was prevented by stone your authorities are our first reports on how the program at the center of its feeding a dangerous new ultra right went. well here in the estonian town of cinema but in one thing forty four is the scene of fierce fighting between status soldiers and yes this is where here by the monument to commemorate the save it soldiers that died in that fight less than a mile away and the stones also the scene of a gathering of veterans day near weapon. is that of a widespread criticism of the calorifier is a. former soldier of life in this forum but. it's something like a moment you don't think about they can repeat about you from propose.

to the. country and most of year it these kind of events abound. in order to hear it in a stain year it's a different story altogether. it's common in the story you can call these people freedom fighters we hold or protest rallies on the stream going to hold this event to remind them we are given allegiance to hitler. we have never lived. moreover money of them are engaged in and all of them are more innocent qantas's of the crimes committed by nazi germany. in fact in recent years he is still in you know thirty and made it increasingly difficult for those who come to oppose the event this year once again members of the anti passions movement which attained at the buddha today that by the police car we were traveling in was also a stop for questioning on the way in. i haven't.

seen any kind of other opinions. on which is very very much supporting the. revival of the far right across europe has caused growing concern ultra right parties and gaining ground in countries like australia finland and france savage sluice are by far right extremists and as bravely can norway recently has driven home just how dangerous these years remain i think this is a problem for the. uprising or for. extremism and for right wing extremism and the fact that authorities. calls. doesn't want to absorb this be you say far failed to take decisive action to stop nazi commemorations within its borders bush's push for international legislation to condemn the glorification of wartime

fascism events like the one in a stadium make it clear in a clear the not all countries are on board critics of this event hardly that the gathering provides a for and for dangerous near fascist state there is the government's failure to ban it seem at the very least this being morally and politically insensitive surf the. another xo good state is having trouble with its more recent past as a high profile trial in ukraine and gathers steam this week and ukrainian forces order of the oppressor former prime minister yulia tymoshenko i made her trial over allegedly dodgy gas deals but her supporters claim it's all politically motivated r.t. our courts from outside the court if next hour. i will go for a short break and i'll be back with a recap of the maiden who's had nice to say with us.

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a moment. the easy view or are still visible. to the public is not only relieved but also shaping the future.

just this is a cable from the u.s. embassy in colombo talked about here an apparent june seventh incident of extrajudicial executions the military order to press that on that day killed nine to really just a different guy instructs young couldn't you know and they're going to be strongly suggest however that the nine were executed by the army and then dressed in military fatigues. slate you know this kind of phenomenon where bodies are dressed up as guerrillas and presented as killed in action and this and this idea that you need to produce these actually encouraged the paramilitary operations this is a cia document central intelligence agency they knew about these activities they

knew they were happening they knew about links to paramilitary groups and yet. usaid continued to flow. in the czech republic he's available in. central. in bosnia and herzegovina she's available in total bosnia and total bit of beach hotel cubic chain a photo put you know hotel period to make hotels you have enough gold or a boutique hotel and you look tons. in serbia multis available in most clifton hyatt regency they are going to.