issues get the human voice face to face with the news makers. in the. the week's top stories from our cheat aaa that's now america's accounting anxiety its credit crown is taking down a wrong in the ratings as investors shutter over how the debt ceiling raised was handled. it rounded off a rocky week on the open markets with wall street's worst performance in over two years worsened by europe's doubts and fears of a second possible american recession. and as egypt's former president goes on trial for mass killing in option a weary public see the replacement regime family to meet the revolution its demands. but in neighboring israel the reform rallies swelled to

a quarter of a million people in tel aviv angry about the government living out of. its three pm in moscow you're watching the weekly this sunday here in our chain on nice and now we've got the latest in a look back at the top stories of the week we begin with higher borrowing cost weakening business and consumer confidence as well as slimmer chances of recovery is the potential ripple of facts for the united states after its top tier aaa credit rating was cut by one notch standard and poor's took the unprecedented move of dropping america's ranking to a.a. plus and its outlook white house officials are on the defensive saying there's a two trillion dollar mistake that's and p. admitted that but is sticking with its decision which it says is objective it's

despite the last minute debt deal which narrowly rescued the country from default but the damage was already done as the political haggling undermined investors' trust economists max wolf says brace yourself for a stock market where costar on. monday. i do think that 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 north east asia we're going to see some of the dislocation that we had all here 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 shockwave hit into a global economy and global financial markets have spent the last week fall down a flight of stairs so i think we're at a very 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 to double a plus could not be workers 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 does reduce people's confidence i think 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 good loans 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 downgrade watch there suggesting that this downgrade may be a big inning of a process and not be have. america's ratings caught has met with a stern response internationally china's demanding independence supervision over u.s. dollar operations and is calling for

a new stable reserve currency and the nation's third largest economy india finance minister called the situation grave singapore basin vast turn off for jim rogers. 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 dead has skyrocketed and gone through the dead right through the roof america's in worse shape now than it was before america spent a lot of money and people who got that money ok better off but the overall situation is much worse america's quote to put it's dead america if you take in the consider the 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 u.s. will default 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. now it took months of political squabbling before the eleventh hour deal that struck to raise america's debt ceiling but it was still not enough to stave off the credit score drop that's very important i explained investors are ready to move out of the united states because of its increasingly fractured his skull reputation. help us avoid the full 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 being done no matter what happens now everybody really thinks the united states isn't so secure in his and so safe even if the craziness subsides it seems to have got 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 who are 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 is like being married to someone decide. they weren't sure you want to know what or why do how much can i put up with this relationship the u.s. will be in for a long time the only game in. unity 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 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 around that that instead a us 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 all the eyes of the world's have been following the heated saga playing out between us 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 there are enough r.t. new york. trends for count star gerald celente told r.t. that despite a last ditch attempt to thousands of 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 they're not going to you know what's a reputation a reputation is by what you delivered in ited states can't deliver the united states can't deliver on its wars it 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 be inept and

the incompetence to come up with a program that's going to salvage the nation it best is 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. well return it to the economic woes of folk in both sides of the atlantic a little later the world wide panic selling us and faster than us and they're saying our shares in the worst week for stock markets since two thousand and eight . also ahead this hour ukrainian riot police surrounded the camp set up by supporters of arrested actually practice through here tonight show protesters fear police may use force against them. but first egyptians are finally seeing their former president face trial for killing and corruption but many feel

they have yet to see the revolution which to post him to bear any real fruit hosni mubarak 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 will face a death sentence if convicted they three year old was in a hospital bed when he appeared alongside his two sons and top aides who were also accused of corruption and mass killing for the egyptian people unemployment is that an all time high and millions are struggling to make ends meet are just the notion of 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 back but apart from that what else did is read the people of egypt. this man has been running his own reasons for thirty fun. it used to bring him enough money

to send his son to study to canada and take his launch family aboard one see. it with the economics of a station caused by and rest of the political uncertainty. enterprise has been badly affected now he can barely a food to feed his children he says the wind of change me has brought freedom to egypt. but it's grant and survival strong and it's quite. sad about it really like that but you know i love the revolution when it happened i welcome that that looked at the time like 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 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 it took eighteen days to end one of the world's longest dictatorships but why months on there is little satisfaction and dictator free egypt is far from the best place to live and the people are getting very tired and getting ready hoppers. now walking about more. than a day. about it. and they're very sad because our people are indeed tired even those who back the changes they see a man is from the revolution youth caliche and he tries to remain optimistic because he says 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 man but we do need to wait for

a little longer. recentre need to mistreat sions in the big square show that there's toys this man has been pushed to the limit and it's protests versus patients and the battle to save egypt from crumbling further grief and optional r t cairo. egyptians are slowly realizing they're a one way from seeing their benefits of their own revolution going on and all 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 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 bouncing back

anytime soon but even even still there was a rather healthy growth curve in the last several years even while move 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 when they're held. that doesn't bode well at all for them just so i don't think young people have more democracy i think perhaps they have even less. and things are firing up in neighboring israel telling me it's seen its biggest ever reform rally with up to quarter of a million people gathering as well as similar protests nationwide israelis are angry at the soaring cost of living and on affordable housing on sunday morning a finance minister announced a special committee to deal with the problem has now been set up meanwhile one

televisa street has already been relabeled by some. corner of course named after the site of egypt's uprising but as part of their reports they're concerned it's taken this much pressure to get any kind of reaction. tens of thousands on the streets of israel angry bitter and protesting for change but does anyone listening when it comes to a lot of the foreign media want to see more of an action movie and. very violent it's been very 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. cover it they didn't a younger woman set up a tent like the editors of france twenty four b.b.c. and sky just a few negus seconds perhaps not even that interesting to. look.

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 and it's not as big and dramatic as 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 place for decades reporting from media both foreign and local there is a box that the international media has put israel is really a palestinian conflict also israeli liberties and syrian conflict and anything that goes. kind of fed into that is the media cycle 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 in excel 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 and we also deserve a chance to be heard out on the streets has been dubbed the top tier corner by some of the people here an optimism perhaps that they can bring down the government in the way the neighbors in toughness square play rode the bus was the cameras they were willing nonstop here they push you absent. because our party's policy our reporting from tel aviv coming up in a few moments a carrot and stick syrian style government promises people a free and fair election now launching a new attacks against town sympathetic to the opposition. 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 this time it's over fears of a double dip recession in the u.s. and the e.u.

is now going back to concerts the world's richest nations are struggling to hammer out a response to the latest financial turmoil before what's expected to be a manic monday on the markets the stocks turmoil has already discussed has already been discussed by g twenty finance chiefs this sunday earlier this week with european from this week president going to fight the prod the financial hole falling for the e.u. bailout funds with france and help deal with the question that has a manual grow so also once the fund to be able to buy government bonds the crisis is now engulfing two of its margins to carney's italy and spain both on their borrowing costs shoot up again but economics journalist patrick young says the banks have to stop cashing in on the troubles. the european union's bailout fund is on the verge of running out of money as soon as one of those major economies such as spain or italy default and every day the market is saying it is terrified of the debt that has been built up in the system and it's

a bold by the fact that nobody in the euro zone one starchy leader so into 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 bytes are going to lose money as part of this entire play they originally bought a lot of these boards thinking there would be an endless are not of cheap interest rates for all of these countries and effectively the game is up but players over the. just step in they need to restructure the market and we actually need to see the 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 moscow end up with the banks economic analyst michael grass it's not the euro debt it's triggered the market panic but the political wrangling in washington. i tell you one thing business and normal crisis and this was not

a normal question that we had this week. it was the beginning of the end what is the illness that has three got all these problems the illness is called dead all western nations all over debt 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 of the most important banks worldwide in the western world will be taken over by government other governments and another thing it's not the discussion of the euro and the debt in europe this is of course a problematic issue it was the discussion about the debt ceiling in united states that triggered this mess. but we've got the world economy on and watch our to talk for you with analysis from around the globe if you follow our twitter feed here straight from our worldwide correspondents for the latest news updates at ardsley underscore calm on facebook search for r g news you'll find out the top videos

stories ready and waiting for you and where you can also join the discussion on what you've seen there's also our rapidly expanding and extensive channel on huge through our reports and programs available when you want them scribed watson explore news from russia around the world. if you. are going to take three months for free arrangement free. three stooges free. the old free blog here to be over for your media projects a free radio gone to our teeth on time. riot police in ukraine's capital have surrounded the tent camps set up by supporters of former prime minister yulia tymoshenko who was arrested on friday and protesters fear officers may storm accounts after the court where her trial is taking place banning

gatherings outside parties alexy yourself ski reports from kiev. ukraine former prime minister yulia timoshenko still remains in detention center in kenya following the decision by according to place on the arrest for that you it's a machine called have been forbidden to leave the country now she was put behind bars as the judge just explained because of her bad behavior during the trial now due to too much frankly is 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 russian 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 resize the times when these agreements were signed between moscow and

kiev were described as a 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 but also been very sharp remarks coming from europe in regards to the detention of you to mr and go with many organizations in europe of the parliamentary assembly view of the council of europe all criticizing this decision and urging the authorities in ukraine to release you to machine going to hold a fair and transparent trial or we understand that the protesters which are picketing the detention center that's where i'm standing right now and the cord. in downtown here are determined to stay there twenty four hours a day and when they 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. turning briefly to more of today's

world news for you riots in north london have the wrong time for the so we saw officers injured and over forty people arrested protesters angrily attacked police over last week's fatal shooting of a twenty nine year old man rioters threw petrol bombs at officers as well as torched buildings and a bus and a police patrol and police patrol cars shops were also booted more than three hundred were involved in what began as a march to demand justice for the killing. tycoon we fought has swept past shanghai and is continuing its way north along china's east coast there are no reports of casualties as the heavy rains so the city about four hundred thousand people have been evacuated to safety as the port of human grace is itself or the storm air travel over eastern china was just dropped overnight but is getting back on track. it's syrian opposition activists say at least twenty people have been

killed in a government tank of salt on the city of bears or in the east which has been the site of strong antigovernment protests it's back aim as the country's foreign minister promised a free and fair general election at the end of the year bringing a part of the mint that represents people's aspirations government forces have also been seizing the opposition stronghold city of hamas human rights groups say twenty four people were killed in the latest round of fighting there and up to two hundred overall during the week protesters earlier rebuffed president also pledged to allow opposition parties saying the violence must stop first and un security council is considering harsh measures against our food russia is calling for a balanced approach middle east watchers say targeting regime change in syria as nato did with libya would devastate the country. the russians and the chinese feel that they were betrayed by the west in the people who pushed for security council

resolution one thousand nine hundred eighty three they thought it was about humanitarian protection it turned out to be about regime change they didn't sign up so that we've got a lot of examples of state collapse in the middle east nowhere but it's look to the east and west of syria itself in lebanon stay collapses led to a very weak sectarian tense government that constantly collapses initially and is unable to really address the political challenges of the day what the syrian opposition would hope for is that the regime the regime doesn't bring down the state with it that it chooses the power of the mubarak and ben ali took to some degree of exile organum moving off into the political wilderness and allows for a government to essentially implement the democratic reforms that have been promised over the last five months in the three outside speeches that he's made that would of course be a lot more attractive. in our special report coming up later today we uncover the background the u.s. invasion of iraq.

the people of the united states and their friends and allies will not live at the mercy of an outlaw regime that's reddens the peace with weapons of mass murder his regime has an active program to acquire and develop nuclear weapons and let there be no doubt about we know for a fact there are that there. this work is being carried out in the direction of dr david kay respected scientist and former u.n. inspector was leading the weapons search in iraq we are determined to take this apart you have a tremendous a group of dedicated american men and women involved in this with the best assets of the intelligence community can provide. data cheney is not going to be done with this for quite some time david kay wants more time and he says it could take another six to nine months to make a definitive finding ministration is asking congress for hundreds of millions more six hundred million dollars to fund the continuing search have not yet found shiny pointy things that i would call a weapon before we can draw from conclusions we need to let the iraq survey group

complete its work. we were all wrong probably in my judgment. and that is most disturbing. sometimes the true patriots takes the unpopular course that helps the country of origin stakes and even if they come this way at least from china patriotism is the last refuge of scoundrels and i think these are scoundrels they have no argument now they have no defense for what they did the country is in a terrible international security situation and i think it's perilous so they're attacking the patriotism of others. don't miss our tease full report on the u.s. invasion of iraq at one thirty and three thirty pm g.m.t. i'll be back with help. ninth after a short break. wealthy

british style. sometimes it's right on. target. markets why not. find out what's really happening to the global economy in cars really forged on our.