these 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 as and he admitted that but is sticking with its decision saying the huge budget deficit is still a cause for major concern all this despite the last minute debt deal which narrowly rescued the country from default economist max crowd wolf the stock markets will go crazy 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 northeast asia we're going to see some of the dislocation that we have all feared that it 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 that spent the last week fall down a flight of stairs so i think we're in 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 worse it sets up an environment in which symbolically politically and economically the united states leadership the global economy has another kind of strike against it and i would remind people to the s. and p. 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 inning of a process and not be am. well america's rating scott has met a stark response internationally china's demanding independent supervision over u.s. dollar operations and is calling for a new stable reserve currency singapore based investor and author jim rogers says

that exam is justified all the asians already know that america's got problems all of us are already moving out of u.s. government bonds we never got out of the first global recession unemployment in america is still higher than it was in two thousand and eight the american debt has skyrocketed and gone through the dead of 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 are better off but the overall situation is much worse america's quadrupled 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 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 artie's report niall 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 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 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 gotten real close and who knows whether the next month next year this won't blow up again since the underlying causes economic problems are getting worse in this country your 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 deciding you have to so many years they were jerks 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 jail but the european unity is making noises chinese making noises well you know we're not 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 dad but really because we're not creating any way to get out of that instead of us 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'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 marina port niall r.t. new york well new york based trends forecaster gerald cilento told r.t. that despite the last ditch attempt to salvage a doubt strategy the new great depression may already be underway. 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 the 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. well we will return to the economic woes afflicting both sides of the atlantic a bit later the worldwide panic selling as investors jonathan 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 targets of killing and corruption but many feel the revolution which to post him has made their life even tougher hosni mubarak denied 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 the eighty three year old was in a hospital bed when he appeared alongside his two sons and top aides who are also accused of corruption and mass killing however six months after mubarak was toppled the post-revolutionary chaos makes many egyptians yearn for what went before

parties very often ocean are 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 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 business for thirty five. it used to bring him enough money to send his son to study to canada and take his large family abode one. between the economic to the station caused by and rastan political uncertainty mohamed enterprise has been badly affected now he can barely a food to feed his children he says the wind of change may have brought freedom to egypt it is broad and survival strong in its wake.

you know i love the revolution when it happened i welcomed it that looked at the time like a life at the end of the time that it's not getting better. if we have nothing to eat just don't tell me about democracy for hungry people it just doesn't matter it's 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 major successful arab spring chapter it took eighteen days to and one of the world's longest dictatorships the five months on there is little satisfaction and dictator free egypt is far from the best place to live in the period of the people getting ready . and. ready hoppers the people now according about mubarak as well much better than that they. would be a better solution and this in fact as they're very sad that is our 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 i get out of 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 demonstrations in africa square show that there's toys system has been pushed to the limit and it's protests versus patients and the battle to save egypt from crumbling further duration optionor r.t. cairo. and life will only get worse for the egyptian people as they fell prey to a political game says f william and all who has written extensively on egypt's uprising. there has been no revolution in egypt i said so. in our tea 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 bombed back any time soon but even still there was a rather healthy growth curve in the last several years even of all mubarak 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 youths were brought onto the streets under the illusion that it was and now you have the muslim brotherhood position to become the leading political party in the in the elections when they're held. 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.

fifty seven people have reportedly been killed across syria as the government continues its military crackdown on protesters almost forty of those fatalities are said to be in the city of dare eleanor 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 hama killing up to twenty four people human rights activists say that overall more than one and a half thousand people die 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 dmitry medvedev says if syrian leader bashar fails to stop the violence and carry out forms his fate would be grand. unfortunately the situation in syria has taken a dramatic turn we real politician should follow developments like 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 i discussed the same ideas reforms need to be carried out he should establish peace with the opposition establish peace in the country and create a modern state if he fails to do that then a sad future awaits him and at the end of the day we'll have to make a decision we are watching the situation it is changing our guidelines are to. look that's just part of an extensive interview to meet the demands made of gave to our team as well as a radio and georgian t.v. channel peak the full length version is coming up in about fifteen minutes. in israel more than a quarter of a million people took to the streets on saturday night in the latest show of discontent with the government that's after three weeks of protest over the soaring

cost of living with activists demanding the prime minister steps doubt benyamin netanyahu has responded with a promise of great changes in israel's economy a special panel has been set up to deal with the crisis which has even led to calls for revolution similar to that in egypt with one tel of the street labeled as israeli talking here but us policy 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 and protesting for change but is anyone listening when it comes to a lot of the foreign media want to see more of an action movie and this hasn't been a very violent it's been very hasn'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 younger woman set up the tent while the editors of france twenty four b.b.c. and sky coughed up just a few meager seconds perhaps not even that interesting. back you know back in the studios ok there's a protest well what exactly is a protest a social protest 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 mean it 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 in and that is the israeli palestinian conflict or so of israeli lebanese and syrian conflict and anything that doesn't kind of foot into that is not the immediate 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 me 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 on the streets has been dubbed top here corner by some of the people here an optimism perhaps that they can bring down the government in the way the neighbors in tough here square the bus was the plan was they were willing nonstop here they push you absent for this the on scene tel aviv. here with our to you live from moscow still ahead on the program arrests on grass roots ukraine has police around the tent city set up by supporters of the detained former prime minister to my son the threat of security forces lurks in the

background also. cutting off the thieving hounds in the london hardline muslims press for the introduction of the toughest one make sure real loss in the british capital that's coming your way in just a few minutes. it's been a hard week for the world stock markets which saw the worst plunge since two thousand and eight the stocks were battered by the eurozone and america's debt difficulties the market panic triggered disputes among e.u. leaders as the pressure mounts on them to take to the slice of 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 expand germany's finance minister projected the call saying questioning the decision of the recent e.u. summit would only cause more worries on the market economic journalist patrick young says it's high time the banks stop cashing in on the troubled. the european union's be a light fund is on the verge of running out of money as soon as one of those major

economies such a span or italy defaults 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 of cheap interest rates for all of these countries and effectively the game is up but play is over governments need to step in they need to restructure the market and we actually need to see that demon word default in other words some of the bonds have to go bust or the bomb tough to be restructured and ultimately some in must end up with the banks economic analyst michael ross says it's not the euro debt which triggered

the market panic but 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 the illness that has triggered all these problems the illness is called debt of western nations over debt don't 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 debt in euro this is of course a problematic issue it was the discussion about the debt ceiling in united states that triggered of this mess. that was economic analyst michael ross there working being a close eye on the e.u.

and us debt world and the market's reaction to them at party dot com if you follow our twitter feed and you can hear straight from our worldwide correspondents with the latest news updates and archie underscore come on facebook search for r.t. news you'll find our top videos stories ready and waiting for you and you can also join the discussion on what you've seen there is also our rapidly expanding and extensive channel on you tube our reports and programs available when you want them to subscribe to us and explore news from russia and. critique free storage. arrangements free. three stooges free. old free blog videos for your media project a free media john darche 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 camps after the court where her trials taking place banned gatherings outside parties alexi your house more now from kenya. ukraine's former prime minister yulia timoshenko still remains in detention center in kenya following the decision by according to based on the arrest before that you would 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. 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 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 of the country's former prime minister yulia timoshenko they've also been very sharp remarks coming from europe in regards to the detention of you to 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 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 the rest. a look now at some more international news for you in brief this hour over forty people have been arrested and dozens most

policeman injured after violence flared up in north london protesters attacked police over the fatal shooting of a twenty nine year old man last week rioters threw petrol bombs at officers and torching buildings a boss and police patrol cars more than three hundred were involved in what began as a march to demand justice for the killing. israel's supreme court has started hearing an appeal from the country's former president. in march he was sentenced to seven years for raping an employee while a cabinet minister in one thousand nine hundred eighty eight he 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 the former president has denied any wrongdoing claiming his case is politically motivated. now hardly. and muslims in britain have started a campaign to put several areas of the u.k. under strict sharia i should say law banning drinking gambling and listening to

music is just a small part of the proposals or just more of it has been hearing how they want to instill their tough code. so we are here to tell you that islam. is unstoppable in europe stoning for adultery cutting off hands for stealing a 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. because of the islam as an alternative to the muslim of an all muslim community also looking we believe that together trade according to the sharia was all the problems. and even police themselves to a large extent hopefully one day to have a summit governments have apology locally security locally and you provide well for local choudhry 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 these muslims say british society is broken riddled with drugs crime and prostitution because of that they firmly believe members of the communities that targeting will welcome shari'a law but the word on the street about the campaign tells a different story comes down to if you don't like the laws of the place you live somewhere where. this is not indira pakistan this is our own laws people have no rights can you bring their laws in here counselor martin agrees saying this could destroy community cohesion we've. taken down the house assumes that put up because we do not want these posters around i do not represent views about power and that

they have no place to move in forests citizen equality campaign is say the shari'a supporters shouldn't be considered a religious movement but a far right political organization with a place to campaign design. to divide and conquer communities the danger lies in dividing people dividing communities creating mistrust and particularly among from non muslims towards moderate muslims i think this is part of their aim is to create mistrust so they can then turn to moderate muslims and say look everyone hates you we are friend turn to us undeterred by opposition the law childfree and his group plan what they see is the beginning of an islamic emirate not just of the link a but all over europe police have mobilized to take these posters down as fast as they appear but choudhry and his group say they formed bands of vigilante and forces to make sure syria is to all physically and in other parts of london women

have 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 streets of los them stay or many other parts of london brussels rome and paris and it's all t.v. well some story loved it. we're going to take a short break here on our team and i'll be back with a recap of our top weekly stories stay with us.

wealthy british style time it's time to experiment with. margetts why not. find out what's really happening to the global economy cars reports.

to watching our to you live from moscow and the week's top stories in the u.s. credit rating has been downgraded for the first time since the one nine hundred seventeen that's the spite the last minute debt ceiling deal that would go to default. this is come on top of wall street's worst performance in over two years and european debt troubles are suggesting the share of the roller coaster ride has been likely to continue on monday. and egypt's former president is on trial for mass killing and corruption but a weary public says the absolution is not over as the replacement regime is fouling to meet their demands. but just across the border in israel over a quarter of a million people have rallied against the government they are demanding better living conditions and say they are ready to do what. now on the eve of the third anniversary of the south setia war president spoke to our today and other broad.