we've gone to. the biggest issues get the human voice face to face with the news makers. of the. stories from this week on our chief financial problems stripped a last minute deal on the debt crisis can save the u.s. from a shock credit downgrade. which rounded up wall street's worst week in over two years and with the debt crisis in europe also worsening the markets are braced for monday may have. egypt's toppled president goes on trial on charges of mass murder and corruption but people feel the revolutionary regime that replaced him is the one that. can in neighboring israel hundreds of thousands of people take to the streets in an unprecedented nationwide rally demanding the government make the living costs

lower the poor go. through watching the weekly here in our achieve this sunday i'm used to norway with the latest news and a look back at the week's top stories on friday the financial world was shaken after the u.s. was stripped of its top tier aaa credit rating by standard and poor's agency for the first time since one nine hundred seventeen its rating has been downgraded to double a plus with a negative outlook white house officials are on the defensive saying there's a two trillion dollar calculation mistake s. and p. admitted that but is sticking with its decision saying the huge budget rate is still a cause for major concern all this despite a last minute debt deal which narrowly rescued the country from to fault economists max fraud wolf. so as the stock markets will go crazy on monday. i do think it's

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 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 shock wave it 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 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 couple a plus could not be worse it sets up an environment in which symbolically politically and economically the united states leadership a global economy has another kind of strike against it and i would remind people

too that ason peat didn't just downgrade the united states they put us on further down grade watch so they're suggesting that this downgrade may be big could be giving up a process and not pm. but america's rating scott is not a stern response internationally china's demanding independence supervision over us dollar operations and is calling for a new stable reserve currency singapore based investor and author jim rogers says that he 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 have got out of the first global recession unemployment in america still higher than it was in two thousand and eight the american debt has skyrocketed and gone through the dead through the roof america's in worse shape now than it was before america spent a lot of money and the people who got that money ok better off but the overall situation is much worse america's quite to put instead 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 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 debt situation is getting worse and worse not better better and. now the long lasting political bickering over the u.s. debt ceiling followed by a last minute deal is widely seen as another factor undermining trust in the american economy are to. explains. 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 divisive 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 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 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 poor 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 it's like being married to someone year after so many years the rich are well know what or why do how much can i put up with this relationship the us will be in for a long time. but. you know it is chinese making noises were you know we're alone now or will it be to be a repository for financing in the world 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 towers 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 say that 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 around that that instead of the u.s. president repeatedly asked americans over the past week or two during the campaign to borrow and spend more make a phone call it's an e-mail tweet keep the pressure on the washington and we can get past this while the eyes of the world's 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. new york based trends forecaster gerald celente told r.t. the despite the last ditch attempt to solve a debt strategy the new great depression might already be underway. 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 it loses wars whether in iraq afghanistan the war on drugs the new war with libya they're losers the the government everything that they touch look at all the trillions of dollars the tens of trillions and have been pumped into the system since the panic of zero eight struggling by the federal reserve by d.c.

with a stimulus palouse too big to fail it's everything they do they turn to failure why would any thinking adults look at the republicans and the democrats 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 close 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 to the economic woes affecting both sides of the atlantic a little later the war on excelling as investors jettisoned their shares in the worst week for stock markets since two thousand and eight. but first egyptians are finally seeing their former president go on trial over charges of killing and corruption but many feel the revolution which to post him has made their life even tougher hosni mubarak tonight the charges against him at the

opening of his hearing into accusations of ordering the killing of protesters if convicted mubarak could face the death penalty a 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 over six months after mubarak was toppled the post well pollution ery chaos makes many egyptians yearn for what went before archie's griffen notion of reports. 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 rather thin 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 place and as 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 one see. if with the economic to the station caused by and

rastan political uncertainty mohammed's enterprise has been badly fractured now he can barely of food to feed his children he says the winds of change me have brought freedom to egypt and he's brought a survivalist home in its wake. but if i was really like that you know i love the revolution when it happened i welcomed it that looked at the time we call life at the end of the time that we see it's not getting better we have nothing to. 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 took eighteen days to and one of the world's longest dictatorships five

months on there is legal satisfaction and dictator free egypt is far from the best place to live and we're. getting very. very heartless but people now are talking about more. than a day is a day and they're very. 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 and he says sounds a lot like south conviction that you know let's say we've been living under mubarak for many many years too many i'd say but it's great what we did but we do need to be more patient and this is difficult we have a lot of problems right now but we do need to wait for a little longer. recentre new demonstrations in the square show that this choice system has been pushed to the limit and its protests versus patients and the battle

to save egypt's from crown and found a very fine option or r.t. cairo. life will only get worse for the egyptian people as they fell prey to a political game so that's half william and who's written extensively on egypt's uprising. 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 tourism is not going to be bombed back anytime soon but even still there was a rather healthy growth curve in the last several years even on the brock 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 the just so i don't think young people have more democracy i think perhaps even less. at least twenty people have reportedly been killed by syrian government tanks they seized the city or this is just the latest of many violent responses to an uprising which began in march earlier this week government forces stormed the city of marketing up to twenty people in the rights activists say that overall more than one and a half thousand people died just before the latest wave of violence the country's foreign minister promised a free and fair general election at the end of the year president's meeting means reid says if syrian leader bashar fails to stop the violence and carry out reforms

his fate. north city's thoughts are unfortunately situation in syria has taken a dramatic turn we real politicians should follow developments gadhafi gave violent orders to destroy the opposition the syrian president gave no such orders unfortunately a lot of people are dying in syria this is our biggest concern in my private conversation with the president of syria and in the private letters i sent him i discussed the same ideas reforms need to be carried out you should establish peace with the opposition establish peace in the country and create a more than state if you fails to do that then the senate future awaits and at the end of the day will have to make a decision we watching the situation it is changing lines are too. well just part of an extensive interview to meet the need to gave to r t as well as echo monthly radio and georgian t.v. channel peep the full length version is coming up in just over an hour's time.

in israel more than a quarter of a million people took to the streets on saturday night in the labor show of discontent with the government that's after three weeks of protest over the soaring cost of living with activists tonight in the prime minister steps down benjamin netanyahu has responded with a promise of great changes israel's economy a special panel has been set up to deal with a crisis which is even led to calls for revolution similar to that in egypt with one television street labeled as israelis cochlear but as part of their reports protesters are concerned it's taken this much pressure just to get any kind of reaction. tens of thousands on the streets of israel angry to get out and protesting for change but is anyone listening really from a lot of the foreign media want to see more of an action movie and this hasn't been a very violent it's been very hasn't been violent 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 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 back. in the studios ok it was a protest well what exactly is the protests the social protest over the river. 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 i'm here because russia 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 the international media has put israel is really palestinian conflict

well so it is really a syrian conflict and anything that doesn't kind of fit into that. type 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 it makes little sense that when egypt decided to stand up and say we've had enough and eleven and 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 of the streets has been done to your 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 rode the bus was the plan was they were willing nonstop here they put in the absence of policy artsy type if. it's

coming up to eighteen minutes past the hour i'm going to. you know i'm from moscow and still have a rats and rats grips and crane police around the city set up by supporters of the detained former prime minister to my shotgun the crowd of the security forces the works in the crowd also. a look at how as as marchers commemorating the dead are bringing nothing ideas back to life in modern day to study. it's been a hard week for the world stock markets which saw the worst plunge since two thousand and eight that's not for battered by the euro zone and america's debt difficulties the market panic triggered disputes among new leaders as the pressure mounts on them to take decisive action over the debt crisis the european commission president admitted spain and italy are now under threat and called for the e.u. bailout fund to expound germany's finance minister project of the call saying questioning the decisions of the recent use summit would only cause more worries on

the markets economic journalist patrick young says it's high time of banks start cashing in on the troubles. through 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 spinner italy default and every day the market is saying it is terrified of the debt that is being built up in the system and it took hold by the fact that nobody in the euro zone one stock she leader so i can 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 the banks are going to have to lose money as part of this entire play they originally bought a lot of these almost thinking there would be an endless nirvana of cheap interest rates for all of these countries and effectively they give it up but players over governments need to stay 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 bones have to be restructured and ultimately some here in moscow end up with the banks. and economic analyst michael ross says it's not the euro debt which triggered the market panic but political wrangling in washington. i tell you one thing this is not a normal crisis and this was not a normal crash that we had this week. it was the beginning of the end what is the illness that has triggered all these problems the illness is called debt all western nations all the 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 all of the most important banks worldwide in the western world will be taken over by government by the 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. because from economic analysts michael ross there will work keeping a close eye on the e.u. a us debt woes and the market's reaction to them at our team dot com if you follow our twitter feed here straight from our worldwide correspondents with the latest news updates at our g underscore com on facebook search for our team news still find our top videos stories ready and waiting for you and you can also of course join the discussion on what you've seen there's also our rapidly expanding and extensive channel on you tube our reports and programs available when you want them to process and explored news from russia where. the issues. are great you take three days for charges three. arrangement three. three stooges free.

world free volunteers loaded videos for your media project a free media don carty dot com. riot police have surrounded tent camps set up in ukraine's capital by supporters of former prime minister yulia tymoshenko who was arrested on friday the protesters fear officers may storm the council after the court where her trials taking place bound gatherings outside parties a let's say yourself ski has more from kenya. ukraine's former prime minister yulia timoshenko still remains in detention center in kenya following the decision by a court in kiev to place on the arrest the call that you it's a shame i mean forbid into 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

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 all 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 they've also been very sharp remarks coming from europe in regards to the detention of units and with many organizations in europe the parliamentary assembly view of the council of europe all criticizing this decision and urging the authorities in ukraine to release going to mission 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 to stand that 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 ground arrest. more international news now in our world update over forty people have been arrested and dozens most of them to the least amount injured after the riots flared up in the north london protesters attacks police over the fatal shooting of a twenty nine year old man last week rioters threw petrol bombs at officers as well as torching buildings a bus and police patrol cars more than three hundred were involved in what began as a march to demand justice for the killing. israel supreme court has started hearing an appeal from the country's former president holds a copy of in march he was sentenced to seven years for raping an employee on a cabinet minister in one thousand nine hundred eight was also convicted and sentenced for sex offenses against two other women during his presidency but allowed to stay out of jail while he appealed for former president has denied any wrongdoing claiming his case is politically morally. better ins from

nazi s.s. units in a stoney i gather to commemorate a battle with the soviet red army this week is the kind of meeting ground across most of europe as a glorification of not so ism but in a start it was a rival anti-fascist rally that was prevented archie sarah firth reports on how program nazi sentiment is feeding a new altar of white movement. well here near spain in town a cinema nineteen forty four is the scene of fierce fighting between favorite soldiers yes. we're here by the monuments commemorate sega's soldiers that died in that bite less than a mile away and this town's all say the scene of the gathering of veterans day near and that sort of widespread criticism the floor of. the. former soldier.

but. it's something at the moment you don't think about. people. in our country and most of year at these kind of events abound. and to hear. it in a sting 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 giving allegiance to hitler could have never liberated in fact in recent years in you know thirty's and made it increasingly difficult for those who come to oppose the event this year once again members of the anti fascist movement we detained at the buddha. by the police the car we were traveling in was also a stop for questioning on the way in i was stopped. i have an entry

to the country of. any kind of other opinions than their own opinion which is very very much supporting the. revival of the far right across europe has caused growing concern right parties a gaining ground in countries that are finland and france savage sluice are by far right extremists and this. bravery in norway recently has driven home just how dangerous these views remain be the city far failed to take decisive action to stop nazi commemorations within its borders russia's push for international legislation to condemn the glorification of wartime fascism events like the one in a stone you make it clear in the clear not all countries are on board critics of this event hardly that the gathering provides a for a dangerous fascist state did the government's failure to ban it seem at the very

least as being morally and politically insensitive surf the. we're going to take a short break here on r.g.p. and i'll be back in just a moment with a recap of our weekly top stories. it

is easy. to. say. wealthy british soil. has moved on to the nuts right in front. of the. markets why not. find out what's really happening to the global economy in cars a report on r g.