the biggest issues do you voice face to face with the news makers. the. sob stories from r t the triple eight it's now america's accounting against its credit crowd has taken dollar wrong in the gratings as investors shutter over how the debt ceiling raised was handled. well it rounded off the rocky week of global markets with wall street's worst performance in over two years worse and are europe's debts and fears of a second a possible american recession. as egypt's former president goes on trial for mass killing and corruption a weary public see the replacement regime failing to meet the revolutions demands. but in neighboring israel the reform rally swelled to a quarter of

a million people in television angry that the government's living costs get out of hand. one pm here in the russian capital you're watching r t with a review of the week's top stories now first higher borrowing costs weakening a business and consumer confidence as well as slimmer chances of recovery is the potential ripple effect for the united states after its top tier aaa credit rating was cut down by one notch started poorest of your own president and move of dropping america's ranking to a double a plus in its outlook white house officials are on the defensive saying there's a two trillion dollar mistake a lesson to be admitted that but is sticking with its decision which its objective is to spark a last minute debt deal which narrowly rescued the country from default but the

damage was already done as the political how undermined investors trust economist max fried of wealth says brace yourself for a stock market roller coaster on monday. i do think this sunday night local time here 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 the ert that is 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 it into a global economy and global financial markets there spent the last week falling down a flight of stairs so i think we're in a fairly sensitive vironment 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 double a plus could not be worse it sets up an environment in which symbolically politically and economically the united states' leadership of the

global economy has another kind of strike against it does reduce people's confidence i think way rightly you might see people buying u.s. treasuries and selling other credits as a general rights of 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 that we're going to market with a very fragile situation and u.s. housing as well as car loans credit conditions generally and i would remind people too that s. and p. didn't just downgrade the united states they put us on further down grade watch they're suggesting that this downgrade may be a big beginning of a process and not be an america's rating scott says the storm response internationally china has supervision over u.s. dollar operations and is calling for a stable reserve currency and the nation's third largest economy india finance

minister called the situation grave singapore case investor at all jim rogers says more exotic justified. all the asians already know that america's got problems all of the asians are already moving out of u.s. government bonds never got out of the personal recession unemployment in america is still higher than it was in two thousand and eight the american get is skyrocketing gone through the dead through the roof america is in worse shape now than it was before america spent a lot of money and people who got bad money are better off but the overall situation is much worse but america's quadrupled its dead america if you take in the considered big things that they guarantee they printed huge amounts of money you know the world has gotten worse the world hasn't gotten better but it sure 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. 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 draw the start he's made a point now explains investors are ready to move out of the united states because of its increasingly fractured fiscal reputation. help us avoid the fall debt ceiling a nation default and this crisis time's running out the entire world is watching it's been a public spectacle filled with the bickering grandstanding and lack of compromise i devise if the bait 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 now everybody really thinks the united states isn't so secure and isn't so safe even if the craziness subsides it seems to have got real close and who knows whether next month next year this won't blow up again since the underlying causes economic

problems are getting worse in this country who are point five trillion dollars of america's borrowing is owned by foreign countries experts say washington's mismanagement may cause investors to abandon the devalued dollar and end their partnership with america it's like being married to someone the so you have to assume you're the richer you want to know what'll i do. with this relationship the us will be in for a long time the only game with the your degree is making noises chinese making noises well you know we're alone now or. to be a repository for financing in the world the result could spark a replay of the two thousand and eight up anomic 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 let'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 debt 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 while the eyes of the world have been following the heated saga playing out between u.s. politicians the 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. will transform cast serve general solenn to told r.t. that despite the last ditch attempt to salvage that 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 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 whether 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 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 his dulled look at the republicans and the democrats be inept 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 it will return to the economic woes afflicting both sides of the atlantic a little later in the program over for the worldwide parity excelling as investors jealous of their shares in the worst week for stock markets since two thousand and eight. and also ahead this hour a ukrainian forces order the aggressor former prime minister yulia timoshenko and leave her trial over allegedly dodging gas deals with her supporters claim it's all politically motivated. egyptians are finally seeing their former president face trial for killing at a corruption but many feel they have yet to see the revolution which deposed there

to bear any real fruit and was 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 the eighty three year old was in a hospital bed when he appeared alongside his two sons and top aides were also accused of corruption and mass killing but for the egyptian people an important is that an all time high and millions are struggling to make ends meet somebody 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 the three it 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 baseness 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 one see. if with the economic devastation caused by and rastan political uncertainty harmatz into price has been badly fractured now he can barely a food to feed his children he says the winds of change may have brought freedom to egypt and his grant to survival strong in its wake. but i was really like you know i love the revolution when it happened i welcomed it but look at the time we call life 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 he twelve percent. egypt's revolution was regarded as the most

successful arab spring chapter and 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 and one of the. really heartless people now are talking about mubarak not going to. be a bit of loot and this is a very sad result people are indeed tired even those who back the changes. he's young man he's from the revolution youth caliche and he tries to remain optimistic and he says sounds a lot like south conviction that if you don't know us like we've been living under mubarak for many many years to me i'd say that it's great what we did but we do need to be more patient and this is difficult we have a lot of programs but we do need to wait for

a little longer. recentre need to mistreat sions in the square show that this trial system has been pushed to the limit and it's true tests versus patience in the battle to save egypt's from crowning through the grief and optional r t kyra. hello jeff fans are slowly realizing they're a long way from seeing the benefits of their own revolution william angle has written extensively on egypt's uprising says they fell prey to a political game there has been no revolution in egypt i said so. in our t.v. 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. the tourism is not going to be bombing back

any time soon but even even still there was a rather healthy growth curve in the last several years even on the rock 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 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 it just so i don't think young people have more democracy i think perhaps even less. but things are firing up a neighbor a is relative of the scene its biggest ever reform rally with up to a quarter of a million people gathering as well as similar protests nationwide the israelis are angry at the soaring cost of living and on affordable housing on a sunday morning the finance minister announced a special committee to deal with the problems it has everything has now been set up

we want to live as street has already been relabeled by some as a corner named after the site of the ship's uprising result is policy reports and they're concerned it's taken this much pressure to get any kind of reaction. tens of thousands on the streets of israel angry and protesting to change it is anyone listening when it comes to a lot of the foreign media want to see more of an action movie and hasn't been very violent it's been very hadn't been violent at all it's been very positive. well into week three the largest demonstration in israel in over a decade and how did a.b.c. c.b.s. and n.b.c. coverage they didn't a young a woman set up a tent the editors of france twenty four b.b.c. and sky coughed up just a few meager seconds perhaps not even that interesting to. look.

in the studios ok there's a protest well what exactly is a protest a social protest of the revolution it's not the same kind of story the pollution is not as big and dramatic some of the bigger revolutions happening around the middle east and i'm here because russia isn't surprised by the worldwide lack of media interest he's worked in the israeli press for a decade reporting from media both foreign and local there is a box that the international media has put israel in and that is the israeli palestinian conflict also the israeli lebanese and syrian conflict and anything that doesn't kind of for. into the is not immediate time of of news item which is unfortunate that just makes one of racists and others angry. she's been camping here furious that she called to make ends meet as a university student it makes little sense that when egypt decided to stand up and say we've had enough and eleven on they've decided to say we've had enough the

media was all over there i haven't seen anyone from c.n.n. or from fox news or any other big news channel here and it's really sad we also deserve a chance to be heard out on the streets has been dubbed top corner by some of the people here and optimism perhaps that they can bring down the government in the way they neighbors in tough his square. bus was the cameras they were going nonstop here they pretty absent. that was our policy of reporting from tel aviv and of course we're keeping a close eye on the developments in israel and our team doctor that if you follow our twitter feed you can hear straight from our worldwide correspondents with the latest news updates our team underscore now on the pace of work a search for our t.v. news you'll find out the top videos stories ready and waiting for you and you can also drive a discussion on what you've seen on air and those are rapidly expanding an extensive travel on you tube our reports are programs available whenever you want

them to describe there was an explanation from russia at around two. million to three. three. three. three. three. three volunteer video for your media project free media r t v dot com. it's been a bruising week for the world's stock markets the worst since the credit crunch first hit home in mid october two thousand and eight and this time it's over fears of a double dip recession in the u.s. and the e.u. is mounting and that concerns the market turmoil has been discussed in an emergency phone conference of the g twenty finance chiefs earlier this week the european commission president joining the fight to plug the financial hole calling for the

e.u. bailout fund to expand and help deal with the crushing debt because a mother also also wants the problem to be able to buy government bonds 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 bracks have to stop cashing in on the troubles big european union being like fund is on the verge of running out of money i should use one of those major economies such as. 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 euro zone 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 that would be an endless nerve via not of cheap

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 the thoughts in other words some of the boards have to go gast or the bonds have to be restructured and ultimately some here in the end up with the banks economic analysts michael ross says it's not the euro debt which triggered the market panic or 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 banks 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 about the euro and the debts in europe this is of course problematic issue it was the discussion about the debt ceiling in united states that triggered this mess. one group thinks it's not financial trouble europe should be worried about a but more reality it's hard like muslims trying to lay down the new show real i'd like to know drinking no loud music or women covered up we hear their plans for the capitals called a car. riot police in ukraine's capital have surrounded the tent camp set up by supporters of former prime minister yulia timoshenko who was arrested on friday the protesters fear their officers may storm the cabs after the court where her trial is taking place badly gatherings outside alexian a show ski reports from here. ukraine's former prime minister yulia timoshenko

still remains in detention center in here following the decision by according to you have to place under arrest for that good to have been forbidden to leave the country now she was 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 gas deals with russia back in two thousand and nine it's interesting because. there has already been a comment coming from the russia's foreign ministry saying that. the old these deals signed in two thousand and nine were completely legitimate and were signed in full accordance with the two countries legislation and urged ukraine to hold a fair and transparent trial over the country's former prime minister yulia timoshenko besides the 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 signing of these contracts they happened mostly because of the political chaos in the country back at those times they've also been very sharp remarks coming from europe in regards to the detention of unity with many organizations in europe with the parliamentary assembly view of the council of europe all criticizing this decision and urging the authorities in ukraine to release you tomasz and going to hold a fair and transparent trial on we understand that the protesters 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 to stand that they are trying to garner more people asking people from all over the country to come to kiev and voice their their protest against the decision to place your emotional ground arrest. and a quick check on today's world news stories

a riot is for drop in north london as protesters angrily attacked police over the fatal shooting of a twenty nine year old man last week riders threw petrol bombs their officers as well as torched buildings a bus and a police patrol cars shops were also looted and more than three hundred were involved in what began as a march to demand justice for the killing. typhoon muifa has swept past shanghai 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 a port of graces itself for the storm air travel over eastern china was disrupted overnight but it's getting back on track. now the hard line muslims of britain have had enough of living with the party lifestyle and they're now trying to enforce strict sharia law for abstention to amputation artie's lore

and it's been hearing how they want to instill their tough code on the capital. so we are here to tell you that base mom. is unstoppable in europe stoning for adultery cutting off hands for stealing death of renouncing islam this group of men is trying to enforce shari'a law in the u.k. they've started a campaign to make certain areas of london and other cities islamic law controlled zones starting with wealth of east london most of the people on the good of being evil because of these numbers and try to for the most of all muslim communities also looking to believe the most instead of together trade according to the sharia is all the problems go to the sharia and even police themselves for logic start tells me one day how does something average which we have apology look at the security locally and you provide well for local childfree and his friends are fly posting parts of london with large muslim populations they want to ban drinking

gambling and playing music and they say they've got bands of young men ready to patrol and in full shari'a law by any means now that in force we will not initially be in on the level of inviting and forbidden begging but it's all of us here but it's different when the sensuously like pornography or prostitution issue do so. by that we think of course i believe the pressures that are needed most should be run out of the area these muslims say british society is broken a little with drugs crime and prostitution because of that they firmly believe members of the communities that targeting will welcome sharia law but the word of the street about the campaign tells a different story comes down secular like the laws of the place you live for and so my way the laws and and all of these things are completely legal in this country this is not india or pakistan this is our own laws people have no rights can you

bring their laws in here we often have trouble but councillor martin isa. griese saying this could destroy community cohesion we force words around the power taken down the house assumes a put up because we do not want these posters around our power i do not represent our minds that they had no place in forests citizen equality campaigners say this should real supporters shouldn't be considered a religious movement because of god right political organization with a poster campaign designed to divide and conquer communities the danger lies in dividing people dividing communities and creating mistrust are particularly among from non muslims towards moderate muslims i think this is part of their aim is to create mistrust so they can then trying to moderate muslims and say look everyone hates you we're your friend turn to us and it's a very very dangerous thing and it's a political tactic to increase their own power undeterred by opposition childfree

and his group plan what they see is the beginning of an islamic emirate not just of the think a all over europe police have mobilized to take these posters down as fast as they appear but choudhry and his group say bay formed bands a vigilante in forces to make sure syria is to berkeley all physically and in other parts of london women who've already been harassed for not covering their heads if these muslims ever get their way i won't be able to dress like this on the street so close them stay or many other parts of london brussels rome and paris and it's r.t. gautham story love they. are all just go for a short break and i'll be back with a recap of romney and his headlines to stay with us.

funny. thing. the ass.