all told. in india she's a mate of the moviegoer to join the the philippines the i love you that's a great way to go to the grand imperial. george was to school until you tryna let you know those little bit you know it's ability to go clear when the sun the candle was originally as this can retreat. week's top stories from our team the triple a that's now america's accounting anxiety its credit crowd has taken down the wrong in the ratings as investors shutter over how the debt ceiling raised was handled. live round it off a rocky week on global markets with wall street's worst week in over two years

worsened by europe's debts and fears of a second possible american recession. as egypt's former president goes on trial for a mass killing and corruption a loose public see the replacement regime failing to meet the revolutions to max. the budget labor and ease relevant reform rallies portal for a million people in tel aviv angry that the government has left living costs get out of. eleven am here in the russian capital you're watching it go weekly on our team for us to higher borrowing costa rican in business and consumer confidence as well a slimmer chances of recovery it's a potential ripple effect for the united states after its top tier aaa credit rating was cut down by one notch standard and poor's took the unprecedented move of

dropping america's ranking to a double a loss and its outlook white house officials are on the defensive saying there is a two trillion dollars. state. sticking with its decision which it says is objective it's despite the last one to. rescue the country from default the damage was already done as to political hardening undermined investors' trust economists max fraud wolf says brace yourself for a stock market roller coaster on monday and i do think this sunday night local time here in new york or monday morning for ages when the markets open in new zealand australia and then quickly thereafter in north east asia we're going to see some of the dislocation that we have all here because 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 down

a flight of stairs so i think we're at a very sensitive prior year and while there's no good time to be downgraded the timing of this s. and p. downgrade of the u.s. from aaa double a plus could not be words it sets up an environment in which symbolically politically and economically the united states leadership but global economy has another kind of strike against it it does reduce people's confidence i think what ironically you might see people buying u.s. treasuries and selling other credits as a general right to 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 bigger risk is to that we're going to market with a very fragile situation in u.s. housing as well as in loans car loans. credit conditions generally and i would remind people to the s. and p. didn't just downgrade the united states they put us on further downgrade watch

they're suggesting that this downgrade may be big between inning of a process and not pm. well america's rating scott has met with a strong response internationally china sematic independent supervision over u.s. dollar operations and is calling for a new stable reserve currency and in asia's third largest economy india the finance minister called the situation a grave singapore base vester and author john rogers says that there exile he is justified but 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. or two the roof of americas in worse shape now it was before america spent a lot of money and the people who got that money are better off but the overall situation is much worse america's quadrupled its then america if you take in the

considerably 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 us would have thought 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. it took months of political squabbling before the eleventh hour deal was struck to raise america's debt ceiling but it was still a not enough to stave off the credit score drop and as our piece but he approached my explains investors are ready to move out of the united states and because of its increasingly fractured fiscal reputation. help us avoid 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 devise a debate over raising the u.s. debt ceiling created an unprecedented climate of uncertainty over america's

so-called sound economy the damage has been done no matter what happens 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 war 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 their partnership with america it's like being married to someone. of the rich or you want to know what or where you how much can i put up with this relationship the u.s. will be. the only game in. me that he is making noises chinese making noises you know we're alone now in our ability to be

a repository for financing in the world the result could spark a replay of the two thousand and eight economic meltdown except this time washington not wall street would be responsible 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 but say that down there 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 send an e-mail tweet keep the pressure on washington and we can get past this all the eyes of the world have been following the heated saga playing out between u.s. politicians and main problem not going away is america's debt and the growing

realisation that elected officials may never be capable of agreeing on how to solve it. r.t. new york. france forecaster charles to lead to told r.t. that the spike the last ditch attempt to salvage 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 it 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 you're not going to you know what's a reputation a reputation is by what you delivered a 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 the war with libya they're losers the government did everything that they touch look at all the trillions of

dollars the tens of trillions that have been pumped into the system since the panic of zero eight strug by the federal reserve by d.c. with the 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 the next and the incompetence to come up with a program that's going to salvage the nation it vested 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. a little return to the economic woes afflicting both sides of the atlantic a little later in the program the worldwide panic selling as investors jettison of their shares and the worst week for stock markets since two thousand and eight. head this hour a ukrainian court has ordered the arrest of former prime minister yulia timoshenko

made her trial over allegedly dodgy gas deals but her supporters claim it's all politically motivated. well jeff sessions are finally seeing their former president face trial for killing at a corruption but many feel that they have yet to see the revolution which they're supposed to bear any real fruit was the robot of denied 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 could see mubarak face a death sentence if convicted they did three year old was in a hospital bed when he appeared alongside his two sons and talk aides who are also accused of corruption and skilling before the egyptian people unemployment is at an all time high and millions are struggling to make ends meet artie's wary of the national reports 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 read the people of egypt. this man has been running his own reasons for thirty five years it used to bring him enough money to send his son to study to canada and take his large family holding on seeing it with the economic devastation caused by and rastan political uncertainty mohammed's enterprise has been active now he can barely afford to feed his children he says the wind of change me has brought freedom to egypt and he's drawn to survival strong and its point. but you know i loved the revolution when it happened i welcomed it but look at the time we call life 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 yet 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 took eighteen days to end one of the world's longest dictatorships for five months on there is little satisfaction and dictator free egypt is far from the best place to live in a period of the people getting very tired and. really heartless people now talking about as much better than the day is today about evolution and this impact as a very sad that is that 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 but he says sounds a lot like south conviction that i get on the other side 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 kashmir is square show the best choices and has been pushed to the limit and it's traitorous versus patients and the battle to save egypt's from crumbling further duration optionor r.t. cairo. a legit says are slowly realizing they're a long way from seeing the benefits of their own revolution william randolph who's written extensively on egypt's uprising says they fell prey to a political game and there has been no revolution in egypt i said so in an r.t. interview in late january 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 a lot has changed and it's largely unfortunately changed for the worse the economy plunged since the events of january. 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 on the broad 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 us 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. that doesn't bode well at all for you just so i don't think young people have more democracy i think perhaps even less. but things are firing up in a neighboring israel television scene its biggest ever reform rally with up to

a quarter of a million people gathering and saw a similar protests nationwide israelis are angry about the high cost of living and affordable housing on sunday morning the finance minister pledged that the government will finally do something to tackle the yawning wealth gap while tell of his street has already been relabeled by some as startling a quarter named after the site of egypt's uprising the start is more severe reports they're concerned it's taken this much pressure to get every kind of reaction. tens of thousands on the streets of israel angry today and protesting for change but is anyone listening when it comes out of the foreign media want to see more of an action movie and. very violent it's been very violent and also 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 lobby editors of france twenty four b.b.c. and sky coughed up just a few meager seconds perhaps not even that interesting to be. in the studios ok there's a protest well what exactly is the protests the social protests for the revolution it's not the same kind of story that they used to it's not as big and dramatic 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 police for decades reporting from media both foreign and local there is a box that the international media has put israel in the israeli palestinian conflict or so it is really syrian conflict and anything that doesn't kind of fit into that is. it is not immediate type of of news item which is unfortunate

that just makes hundred reyes and others angry for knowing j.j. 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 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 the street has been dubbed tough your corner by some of the people here an optimism perhaps that they can bring down the government in the way they neighbors in toughness square i rode the bus was the plan was they were willing nonstop here they put you up since. well that was our teaser polis leah reporting from tel a vivid of course we're keeping a close eye on the developments in israel and r.t.e. dot com and if you a follow our twitter feed you can hear straight from our worldwide correspondents

for the latest news updates that are to underscore com and on facebook you can search for our t.v. news you'll find out the top stories ready and waiting for you and can also join the discussion on whatever you've seen on the air and there's a rapidly expanding inexpensive channel on you tube our reports and the programs available whenever you want them because subscribe to us and explore news from russia and around the world. and if you. are going to take three. three. three. three. three. three blogs you have to be your for your media project free media darkie dot com. it's been a bruising week for the world stock markets the worst since the credit crunch first hit home in mid october two thousand and eight well this time it's over fears of

a double dip recession in the u.s. as well as the e.u.'s mounting debt concerns of the market turmoil will be discussed in an emergency phone conference of the g seven finance chiefs later on sunday earlier this week the european commission president joined the fight it's love the national polls calling for the e.u. bailout fund to expand to help deal with the crushing debt there's a mother over also also wants the fund to be able to buy government the crisis is now engulfing two of its largest economies italy and spain both countries saw their borrowing costs shoot up again but economics journalist patrick young says the banks have to stop passion and all the troubles. the european union's bailout fund is on the verge of running out. money as soon as one of those major economies such a spanner in the folds and every day the market is saying it is terrified of the death and it's being built up in the system and it's a poll by the fact that nobody in the euro zone wants to actually lead to 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 would be an endless nirvana of keep interest rates for all of these countries and effectively to give it up but players over governments need to step in they need to restructure the market and we actually need to see that demon the word default in other words some of the bonds have to go bust or the bomb tough to be restructured and ultimately some here in ma stand up with the banks become a catalyst so 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 is doing is that has to go to all these problems the illness is called that all western nations overdo it they lose their credibility and what happens when they lose their credibility then banks are going bankrupt and i 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 governments and another thing it's not the discussion about the euro and the jets in yours this is of course problematic issue it was the discussion about the debt ceiling in united states that triggered this mess. riot police in ukraine's capital have surrounded the tent camp set up by supporters of former prime minister yulia tymoshenko who was arrested on friday the protesters appear officers may storm the camps after the court where her trials are taking place about a gathering south side are to some extent of ski reports from here. ukraine's

former prime minister yulia timoshenko still remains in detention center in here following the decision by according to placed under arrest for that i've been forbidden to leave the country now she was put behind bars as the judges explained because of her bad behavior during the trial now. he's being accused of several very high profile economic crimes including striking unlawful deals with russia back in two thousand and nine it's interesting because there has already been a comment coming from the russian foreign ministry saying that the all these deals signed in two thousand and nine were completely legitimate and were signed in full chords with the two countries legislation and urged ukraine to hold a fair and transparent trial over the country's former. minister yulia timoshenko times when these agreements were signed between moscow and kiev were described as

political chaos in ukraine with constant political infighting between. the former president before you should go so we understand according to many experts that if there were any violations in the signings of these contracts they happened mostly because of the political chaos in the country back at those times and also been very sharp remarks coming from europe in regards to the detention of unity with many organizations in europe with the interests of europe because of europe all criticizing this decision and urging the authorities in ukraine to release going to hold a fair and transparent trial on we understand that the protesters which are picketing the detention center that's where i'm standing right now and the court building in downtown here are determined to stay there twenty four hours a day and when the stand but they are trying to garner more people are asking people from all over the country to come to kiev and voice their their protest against the decision to place their arrest. well let's turn briefly to more of

today's world news or riots a flared up in north london as protesters actually attacked police over the fatal shooting of a twenty nine year old man last week riders through petrol bombs at officers as well as torching buildings a bus and police patrol cars shops were also looted and more than a three hundred were involved in what began as a march to demand justice for the killing. has swelled passion high and is continuing its way north along china's east coast there are no reports of casualties as the heavy rain soaked the city but about four hundred thousand people have been evacuated to safety as the port of shit out braces itself for the storm air travel over eastern china was disrupted overnight but is getting back on track . of the russian capital has long been an attractive destination for people from neighboring soviet states searching for work and a better life but i'm going to get a low paid immigrants in moscow were being cheated by rogue landlords who charge

them for a living and rundown abandoned buildings has already started discovered local authorities may be in on the scam. at first glance it looks like a trace of illegal immigrant squatting in a former architecture and jim. this used to be part of the moscow conservatory. this building here in the center of moscow was formally empty we heard but now there are many immigrants living here in very poor conditions are illegally right in the center of the city. but they would perhaps have gone unnoticed if it weren't for the fuss raised by quiet center of comparable local residents wanting the migrants off their doorstep this was the us it was as good for you to live in crowded conditions who knows what diseases they may have many of them don't work where they get money to eat meat stealing or cleaning out a crisis that's all possibly illegal or his fellow activists call the authorities and the next day we return with offices of the federal migration service. for.

the migrants who do work on their doors soon wish they hadn't because nature course they might hear you playing bridge secure this place is watching what's interesting is just beginning to live here most are too scared to talk to us what we do learn points to a far larger and more shocking story they aren't squatting they're being charged rent. a man comes to pick up the money from everyone i live in here i only know his face not his name stop filming me so if we go into one of these rooms this room here as you can see it has one two three four five six beds who knows how many people have to sleep in this room and if we come on to this room here there's two beds possibly more in here that lady doesn't want to talk to us but each of the people that are sleeping in these rooms pay three thousand roubles every month to

do that as the migrants are led outside the questioning changes from what are you doing here to who is keeping you here eventually one of the group quite center provides an answer so when you press a public newcomer to the local housing committee it happens all. over moscow is unemployed and often illegal immigrants they're forced to pave stay in hold another band on buildings if they can so they're frozen out and what about the legality of this. local housing committee in turns shares its earnings with the city council and a district poisons factor was impossible without their consent when we took these allegations to the federal migration service they admitted it wasn't my quince fault they wanted someone to live up to moscow's central district government was even more damning confirming our suspicions but i'm missing the rot goes deep inside the housing administration that's clear the way they did you know the silver it's only one person in should be initiated and the kids should be in this to get

in taken to court or else other officials abusing their job positions will worsen the habit of legend jalopy digitals us to legal migrants deal with our investigation revealed just a small part of the scheme to charge illegal rents of hundreds of sites across moscow to people in a desperate position and by providing false hope of a place to live they're only going to encourage more misery for residents and microbes alike from boston. now a graph or a very short break i'll be back with a recap of our main news headlines do stay with us.

it used to be an ideal place for a holiday but it changed in a moment. the wounds of war are still visible. the republic is not only relieved but also shaping the future.