sco and first on friday the financial world was shaken after the u.s. was stripped of its top tier triple a credit rating by standard and poor's agency for the first time since one nine hundred seventeen its ratings been downgraded to double a plus with a negative outlook white house officials are on the defensive though saying there's a two trillion dollar calculation mistake s. and p. admitted that but it's sticking with its decision on the less saying the huge budget deficit is still a cause for major concern all this despite the last minute debt deal which naturally rescued the country from default economies told us the stock markets are set to go crazy on monday. i do think this sunday night local time here in new york or monday morning for each year 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 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 and got 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 double a plus could not be worse it sets up an environment in which symbolically politically and economically the united states leadership global economy has another kind of strike against it and i would remind people too that s. and p. didn't just downgrade the united states they put us on further down grade watch they're suggesting that this downgrade may be could be in a number process and not be am. america's ratings cuts minister response a do actually china is demanding independence supervision now of the us dollar operations and it's calling for a new stable reserve currency singapore based investor and all for jim rogers said that anxiety is justified to 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 debt 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 its dead america if you take in the consider the things that they guaranteed they printed huge amounts of money you know the world has gotten worse or hasn't gotten better but they sure the us 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 and more about the us rating downgrade then i talked to dave johnson from the campaign for america's future which provides analysis of economic issues in the us and boise got a lot to talk about for

a good evening too thanks for being on the program so let's just get this strike some of them paul was stripped the u.s. of its top notch rating and just before the movie stuck with its aaa rating after the debt deal was reached late last week one of the two different verdict. this is unusual i have to say the standard artist would do this you keep in mind in the context of everything you're hearing not long ago when they extended the tax cuts on the wealthy in the united states none of them spoke up so this this is question a whole it seems to be more related to a political agenda than the phenomena suggested because the economic agenda or that i'm certain economic conditions are not as bad as we're here so so is a lot of this the problem once the politicians in the school has been going on is that what a lot of this if this lack of trust is coming from them well standard course did say the threat to take the united states to default in order to keep the country

from raising taxes was a factor in their decision but remember other ratings agencies have not downgraded this does not affect. any. institutional investors because of the number of ratings agencies that have downgraded nine so china is not happy though it all is it is good to thirty angry about what's happening in america and of course it's the biggest holder of american debt is there any danger that beijing could withdraw its funds from the u.s. keep in mind that the reason china is the biggest holder of american debt is because there has been a one way trading relationship and china were to take some of those treasury bills they own and use them to purchase american goods the economic situation and the worldwide economic imbalances which starts with mediately how long can washington carry on doing this to the untrained eye i guess looking at it you can't just keep

borrowing borrowing borrowing borrowing somehow you've got to face the music up to it some time alone is going to go on. well that's your question is and don't forget the reason that the deficits began horse these tax cuts that we had and then the huge increases in military spending and if you want to address those things you could address them remember that cutting government spending does not. change the need for the things that the government spending the money on what it does is it because it shifts the spending and in many cases it actually increases the burden on the economy because individuals are not able to do what a government can do on an economy of scale so actually works s. and p. is demanding here is that the government take four trillion dollars out of the economy they're not advocating that we invest for growth growth creates jobs jobs that means that people are paying taxes and not receiving things like unemployment

compensation or food stamps so keep that in mind as you follow this sometimes though the way ahead is not being paved with gold all of them are when is it no better times ahead by those plans are being laid anyway and of course this downgrade came too late to affect the markets that late last week that saw their worst week since two thousand and eight was going to morrow when the stocks open i don't expect much reaction at all remember that they had already factored this into decision making everybody knew this was likely and also keep in mind also that it is one rated agency not three the other two are sticking and the effect on interest rates would be negligible ok well we'll be played out tomorrow see if you're right and not dave johnson from accounting for america's future thanks for joining us and . european markets also brace for a monday morning after they took a hammering last week

a new central bank officials are holding emergency talks on how to prevent its relief from becoming the next victim of the debt crisis that's off the german government reportedly admitted that the rescue fund won't be able to say. save it to leave the euro zone's third biggest economy if it needs help this week europe and americas that difficulties triggered panic on the markets which saw the worst plunge since two thousand and eight economics journalist patrick young told us it's high time the banks stop cashing in on the troubles that. the european union's be alight fund is on the verge of running out of money as soon as one of those major economies such as spanner italy default and every day the market is saying it is terrified of the death 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 sight 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 the word default in other words some of the bonds have to go bust or the bones have to be restructured and ultimately some pay in must end up with the banks and experts coming to from economic analyst michael moore also told this is not the euro debt that's 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 still news that has three got all these problems the illness is called debt all western nations are over debt they lose their credibility and what happens when they lose their credibility then banks are going

bankrupt and i'll 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 europe is this is of course problematic issue it was the discussion about the debt ceiling in united states that triggered all this mess. so then the european central bank trying to figure out how to fend off financial collapse in italy will be discussing more about that next hour in fact stay with us when patrick young will be with us live he's author of the book the gathering storm. almost sixty people have reportedly been killed across syria as the government continues its military crackdown on protesters forty of those for to tell it is said to be in the city of dear old zuhur and twelve in homes province this is just the latest of many violent responses to the unrest which began in march earlier this week government forces stormed the city of hama

killing up to twenty four human rights activists say that overall more than one and a half thousand people have 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 will discuss the latest let's talk to oxford now and modern history lecturer professor mark o'mara is joining us from our studio professor rahman thanks again for being on the program so then as a measure just yesterday the syrian government promised that free and fair election by the end of the year then just a few hours later launched a bloody sea where's the logic in that move. well it depends what you call her and her election the syrian government regardless i was under attack by armed guerrillas or. bush and the muslim brotherhood and i think. that the best way to stabilize the situation in order very inclusive political solution is to eliminate all position the question is what levels of support why don't these two groups have

. relations who are roughly speaking divided around about a six year old percent seumas with their own various minorities including the president alike who are going to be awesome muslims heretics friends of the show rights in melbourne and iran so it's a question of whether you who come. political horse into mass appeal and of course you have elections in conditions where once heightism raises the other revolutions the struggle will this latest heavy hand we've seen has not gone done run around the world it has not gone down at all well russia for instance is increasing its rhetoric has got a lot tougher moscow now saying that he was grassed diplomacy oh quote assad future awaits let me ask you what's pushing even relatively friendly nations to take a much harder line now at this stage. when it's not clear what he's pushing stocks to do this because both russian. interests in the stables there may

be very decisive syria is going to collapse the regime is going to collapse the russian government has to trick you so to be better placed have good relations with a country singer from i think myself and like who this is if the assad regime collapses and violence the people who take power in followers alike to radically opposed to he because of. so that for instance russia's economic needs space we agreed on the mediterranean with hope and disappear. on the other hand if president assad stays at hof i forced you know it to be much more i say. these would be operators like her who would be very popular and i think the biggest threat to us are is the growing tension with turkey at the very hot line now many of the prime minister. what he sees is internal battles you start as a common border to some extent on population are many of your are.

relatives and one that could well be next the governor and current trends the scene of arson attack opponents and working hard. to use months ago it seemed quite. first as the politics play out in front of our eyes the bloodshed goes on to mention the human rights activists saying that you know overall maybe more than one of a half thousand people have died since this all started how long can this bloodshed cario. well as almost two sides of high street i think one of the problems is that we tend to see it as peaceful demonstrators against a dictatorship there is a real hockey dictatorship but in practice all the weapons have come into severe and screaming some from iraq from i don't see the sort of sunni groups who are hostile to the americans yourself your nation they are friends although we don't like assad you're americans don't like assad because he's a friend of iran so we have also read letters of over to if you like intrigue going on behind the rhetoric of both sides talking about democracy talking about who

represents the people who are going i think the real danger is that we could see of a lone scale civil war in syria because you see the evidence that some of the minorities who like the christians for instance here but if assad hold they will help because the christians were iraq and at the same time they are seen by some of the opponents of assad's increasingly collaborating smith who's pushing the internet into communal violence i should say and it's a very very dangerous situation but it could also explode i will quickly going on is we're going to jordan iran and so i think i think people who talk about international intervention nothing very costly situation willow and i think that will work i fear. it will function don't appear to be working military intervention if we judge syria is a case in a way doesn't appear to work either what is a solution that as you see it what can be done here how can the well that's not going to help. maybe by taking us at his word or saying you say you want your parts

have elections look at her to legalize political parties let's see the evidence of . civic organization with well. the danger is as i said the violence and such momentum that neither side. has conquered. and if any concessions of our government they were taken out not on the question as expressions of. the more hardline appearances they would try to explore them so it could be that one point question was. which side you're over and what will be the collateral damage to not end soon but the neighbor who because of course of the reasons why you are who you are to go home professor mark almond modern history lecturer in oxford thanks for your thoughts on the program. well meantime the revolutions over but few in egypt say their lives are any easier even

considering the former president's finally on trial charged with killing and corruption wasn't about eric denied the charges against him in the wake of the opening of his hearing into accusations of already the killing of protesters if convicted of a barrett could face the death penalty a three year olds in a hospital bed when he played alongside his two sons and top aides who were also accused of corruption a mass killing of a six month soft about it was toppled the post-revolutionary chaos makes many egyptians yearn for what went before. 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 breed the people of egypt i 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 large family abroad one seeing that with the economic to the station caused by and rest and political uncertainty mohammed's 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 but it's brought a survival strong in its way. you know i love the revolution when it happened i welcomed it that looked at the time like a light at the end of the time that we 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 and took eighteen days to end 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 a free of the people. and. the people now. know much better than a day is today about evolution and this in fact as their very. people are indeed tired even those who back the changers. 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 they keep us safe 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 programs right may but we do need to wait for a little longer. recentre need demonstrations in the square show that this tyson

has been pushed to the limit and its trade tests versus patience and the battle to save egypt from crumbling for the duration option or r.t. cairo. meantime in neighboring israel there are scenes reminiscent of egypt 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 that to mr manning the prime minister steps down by the minute his parts responded with the promise of a great change for israel's economy a special pals princesa to deal with a crisis which is even led to calls for an age of style revolution with one tel aviv street labeled as israeli. exactly as paula slate reports next 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 when it comes to zero

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. cover it they didn't a young a 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. 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 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 it is really lebanese and syrian conflict and anything that doesn't kind of fit into that is the immediate time of news item which is unfortunate that just makes hundred and others angry for nine days she's been camping here furious that she can't make ends meet as a university student. 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 from fox news or any other big news channel here and it's really sad we also deserve a chance to be heard out on the streets has been dubbed the corner by some of the people here an optimism perhaps that they can bring down the government in the way they may visit top of his school. bus was the cameras they were nonstop here

they pushed for the hot seat. well we're keeping a course a very close eye on developments in israel about our website if you follow our twitter feed is a link to twitter you can is straight from our worldwide correspondents with the latest news updates on the school also on facebook search for r.t. news there you'll find our top videos stories ready and waiting for you can also join the discussion on what you think on our travels with. rapid league. mission. station three. three. three. three stooges.

police have surrounded tent camps set up in ukraine's capital supporters of former prime minister yulia tymoshenko who was rested on friday the protesters fear officers may storm the. trials taking place band gatherings outside. the latest for you from kiev. ukraine's former prime minister yulia timoshenko still remains in detention in here following the decision by according to placed under arrest for that he 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. 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 the country's former prime minister yulia timoshenko and also been very sharp remarks coming from europe in regards to the detention of you with many organizations in europe or the parliamentary assembly of europe 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 the tension of where i'm standing right now and the court building in downtown here are determined to stay there twenty four hours a day and 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. our correspondent across that story for you tonight also embrace over forty people have been arrested dozens most of the policemen injured after riots flared up in north london this weekend protest has attacked the offices of the fatal shooting of a twenty nine year old man last week rioters threw petrol bombs at police and torched buildings a bus and patrol cars more than three hundred were involved more began as a march to demand justice for the killing. israel's supreme court started hearing an appeal from the country's former president moshe katsav in march she was sentenced to seven years for raping an employee while he was a cabinet minister in one thousand nine hundred eight and was also convicted and sentenced to 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. so he's run of the

troubles in a couple of minutes we'll take you on a trip to a cause here with a cool as mountains in the black sea make a perfect combination for tourists at lunch first though from moscow in just a couple of minutes.

please. thank. you it's the sexes. six in. a safe house. how many. mission. couldn't take three. three. three. three stooges.

video for your media project a free media. hello

are you watching r t international these are the week's top stories from us the u.s. credit rating has been downgraded for the first time since nine hundred seventy despite the last minute debt ceiling deal. performance in over two years and european debt trouble suggesting the shared rollercoaster ride is likely to continue. egypt's former president is on trial for mass killing and corruption but where a public says the revolution is not a place for failing to make that. just across the border of israel over a quarter of a million people rallied against the government better living conditions inside what it takes. up next a special report for you about the small country of of in its quest for a covering for pasta bloody conflicts.