we've got. the biggest issues get the human voice face to face with the news makers . of these. stories from this week on our chief financial crown stripped out last minute deal on the debt crisis can't save you ass from a sham credit downgrade. which rounded up wall street's worst week in over two years and with the debt problem think europe over what crisis point markets are braced on monday mayhem. egypt's toppled president goes on trial on charges of mass murder and russian but people feel the brother lucia nerd regime that replaced him is a little better. and in neighboring israel hundreds of thousands of people take to the streets and i'm president of nationwide rally commanding the government to make

living costs lower or go. at seven pm in moscow this is archie coming to you live i'm in use now way with our sunday weekly program a look back at the week's top stories on friday the financial world was shaken after the u.s. was stripped off 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 lot with a negative outlook white house officials are on the defensive saying there's a two trillion dollar calculation the stake well as some pretty 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 deal. which narrowly

rescued the country from default economist max fraud wolf says the stock market will go crazy on home. 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 north east asia we're going to see some of the dislocation that we had all here because we kind of headed into this disaster over the last month or two complicated which is actually mentioned in the press release complicated by the complete dysfunction of the u.s. congress we're going to see another shock wave 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 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 downgrade watch so they're suggesting that this downgrade may be big could be giving up a process and not pm. well america's rating scots has come response internationally china's demanding independence supervision over u.s. dollar operations and is calling for a new stable reserve currency singapore based investor and author jim rogers says that 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 skyrocket and gone through the dead or through the roof america's in worse shape now than it was before america spent a lot of money and people who got ahead money are better off but the overall situation is much worse america's quadrupled it's dead america had to take in they

considered the things that they had guaranteed they printed huge amounts of money you know the world has gotten worse the world hasn't gotten better but it sure the us will depart 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. the long lasting political bickering over the u.s. debt ceiling followed by a once minute deal is widely seen as another factor undermining trust in the american economy record and i explained. 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 it 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 the next month next year this won't blow up again since the underlying causes economic problems are getting worse in this country 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 just so you're the richer you want to know it all why do how much can i put up with this relationship you know the us will be in for a long time the only game in. the euro we really is making noises chinese making noises or you know we're alone now or will it be 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 baghdad 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 center e-mail tweet keep the pressure on washington and we can get past this all the eyes of the world have been following the heated saga playing out between u.s. politicians the main problem not going away is america's debt and a growing realisation that elected officials may never be capable of agreeing on

how to solve it. r.t. new york the new york based trans forecaster john plenty told our teeth that spike the last ditch attempt to salvage that strategy the new great depression might already be underway in american economy as well as much of the global economy is heading into the greatest depression anything everything that you'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 where there are 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 can have been

pumped into the system since the panic of zero eight struck 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 that dulled look at the republicans and the democrats next 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'll return to the economic woes of looking both sides of the atlantic a little bit later in the program the worldwide panic selling out of investors jettisoned their shares in the worst week for stock markets since two thousand and eight. 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 also mubarak denied the charges against him at the opening of his hearing into his ations 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 party's roof a notion or reports. now one of the most famous in the world many around the globe even those with little knowledge of arabic know it's 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 als did is read the people of egypt. this man has been running his own business for thirty five years it used to bring him enough

money to send his son to study to canada and take his launch family aboard and one sea. between the economics of the station caused by and rastan political uncertainty comments and cries has been badly acted now he can value food to feed his children he says the wind of change to me brought freedom to egypt and he's drawn a survival stone in its wake. but if i was really like that you know i love the revolution when it happened i welcome to the time we call life the only time that we see it's not getting. better than that and to eat just don't tell me about the market for hungry people 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 and it

took eighteen days to end one of the world's longest dictatorships wide mines on there is little satisfaction and dictator free egypt is far from the best place to live and one of the people getting ready. and getting ready harkness but people now are talking about more. than a day. or day about this impact and they're very sad it is that people are indeed tired even those who back the changes this young man is from the revolution youth caliche and he tries to remain optimistic and he says sounds a lot like south conviction that if you don't 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 need to mistreat she's in the big square show that this

choice system has been pushed to the limit and it's true tests versus patience and the battle to save egypt's from crowning friday. and optional r t cairo. and life will only get worse for the egyptian people as they fell prey to a political game so after william and all was written extensively on egypt's uprising. there has been no revolution in egypt i said so. in our t.v. interview. 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. 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 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 on mubarak was still in power. 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. fifty seven people have reportedly been killed across syria as the government continues its military crackdown on protesters over forty of those fatalities are said to be in the city at deer hours or this is just the latest of many violent responses to an uprising began in march earlier this week government forces stormed the city of hamas killing our twenty four people from the rights activists say that over more than one and

a half thousand people have died just before the vegas train 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 else to stop the violence and carry out reforms his fate could be green. more cities unfortunately the 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 modern state if you fails to do that then a sad future awaits but at the end of the day we'll have to make a decision we're watching the situation it is changing our guidelines are to.

but says part of an extensive interview to meet the imagery of kate r.t. as well as a whole lot of the radio and georgian t.v. channel peak an extended version is coming your way next hour. 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 after three weeks of protests over the soaring cost of living with activists demanding the prime minister steps down benjamin netanyahu has responded with the promise of great changes in israel's economy a special panel has been set up to deal with a crisis which has even low to cause for a revolution similar to that in egypt with one television screen labeled as israeli talk radio but as part of 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 very violent it's been very hard and been voted on 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 while 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 there's a protest well what exactly is a protest a social protest over the river lucia 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 mean isn't surprised by the worldwide lack of media interest he's

worked in the israeli place for a decade but porting from media both foreign and local there is international media support israel in the israeli palestinian conflict also the israeli. conflict and anything that doesn't kind of fit into that is needy a 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 on the streets has been dubbed tough feel cornered by some

of the people here an optimism perhaps that they can bring down the government in the way the neighbors in tough his square rode the bus was the cameras they were willing nonstop here they pretty absence for to see a hot seat temporary. but just gone eighteen minutes past the hour here with our teams still ahead arrests on script ukraine that's police around the tent cities set up by supporters of detained former prime minister to show the threat of security forces lurks in the background also. a look at how s.s. marchers commemorating ted are bringing nazi ideas back to life in modern day still be on. but first 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 euro zone and america's debt difficulties but the market panic triggered disputes among e.u.

leaders as the pressure mounts on them to take decisive action over the debt crisis and european commission president admitted spain and italy are now under threat and called for the e.q. ballo fund to expand germany's finance minister rejects of the call saying questioning the decisions of the recent e.u. summit but only calls one. worries on the markets i cannot return a list patrick young says it's high time the banks start accusing in the troubles for the sense of the european union's be alive and is on the verge of running out of money as soon as one of those major economies such as spinner 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 there would be an endless nerve of cheap interest rates for all of these countries and effectively the game is up but players over governments need to step in they need to restructure the market and we actually need to see you know demon d. word default in other words some of the boards have to go bust or the bonds have to be restructured and ultimately some here in ma stand up with the banks and economic analysts 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 three got all these problems the illness is called jet 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 the 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 about the euro and the debts in year as this is of course a problematic issue it was the discussion of god the debt ceiling in united states that triggered all of this mess. but there are economic analysts michael ross well we are keeping a close eye on the e.u. and u.s. debt woes and the market's reaction to them at our t.v. dot com if you follow our twitter feed here straight from our worldwide correspondents and got the latest news updates for you at our team underscore calm on facebook search for our team news so find our top videos stories ready and waiting for you and you can join the discussion on what you've seen is also our rapidly expanding an extensive channel on you tube our reports and programs

available when you want to subscribe to watch them explore news from russia and around the world. through free critique free in-store charge free arrangement free. three stooges free. world free broadcast live video for your media project a free media gun to our teeth on time. 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 trial is taking place banned gatherings outside parties oleksandr subsequent has more from here. ukraine's former prime minister unit emotional still remains in detention center in here following the decision by

according to based on the arrest for that you would have been forbidden to leave the country now she was put behind bars as the judges explained because of her bad behavior during the trial now 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 they've also been very sharp remarks coming from europe in regards to the detention of unity with many organizations in europe of the parliamentary assembly of europe the council of europe all criticizing this decision and urging the authorities in ukraine to release unity machine 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 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 you under arrest. more international news now in grief this hour over forty people arrested and thousands most of them policemen injured after riots flared after the 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 torch 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's supreme court has started hearing an appeal from the country's former president moshe kopp of in march he was

servants 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 veterans from nazi s.s. units in stony gather to commemorate a battle with the soviet red army this week it's the kind of meeting bound across most of europe as a glorification of not so them but in a stone it was a rival and she fascist rally that was prevented r.t. sarah firth reports on how pro nazi sentiment is feeding a new ultra right movement. well here in the estonian town a cinema but annoying thing forty four is the scene of this fighting between status soldiers and yes this. one here by the monument commemorates savior soldiers that

died in that fight less than a mile away and this town's also the scene of a gathering of veterans day near. a widespread criticism. of. former soldiers roughness. but. it's something. you don't think about they think about the people. the war the for. him 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 to call these people freedom fighters we hold or protest rallies on the stream this event. we are given allegiance to him. they have never lived. in fact in recent years he is still

you know thirty and made it increasingly difficult for those who come to oppose the events here once again members of the anti fascist movement which attained. today that by the police the car we were travelling in was stopped for questioning on the way in i was stopped. i have an entry to the country. to 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 culture right parties and gaining ground in countries like australia finland and france savaged by far right extremists. this bravery can always recently has proven to show just how dangerous these views remain be the city far failed to take decisive action to stop nazi commemorations within its borders

bush's push for international legislation to condemn the glorification of wartime fascism events like the one in a stain you're making clarity clear not all countries are on board critics of this event hardly that the gathering provides a four and a dangerous. days the government's failure to but it is seen at the very least as being morally and politically insensitive. i'll be back with a look at our weekly top stories after a short break stay with us.

wealthy british scientists are. sometimes surprised. markets long enough to. find out what's really happening to the global economy in cars a report on r g.