past seven days with me kevin oh into night it's now ten pm here in moscow and first 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 so for the first time since one thousand nine hundred seventeen its rating has been downgraded to double a plus with a negative outlook white house officials have been on the defensive saying there's a two trillion dollar calculation mistake involved in that s. and p. admitted it in fact but also stuck with the 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 economists told us the stock markets are said to go crazy. i do think that 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 for the government flight of stairs so i think we're in a very tense firing 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 the long lasting political bickering over the u.s. sailing followed by that last minute deal is widely seen as another factor undermining trust in the american economy report nigher explains. help us avoid the 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 the 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 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 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 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 community is making noises chinese making noises we're going we're alone now in our ability to be

a repository for financing in the world the result could spark a replay of the two thousand and eight economic meltdown except this time washington not wall street would be responsible it's like the batteries worn out the spark plugs don't work the tires are flat all of this and so what we're trying to do is say we've got a little bit of money in the bank let's pay that down but we're not doing anything to fix the economy and so we're putting ourselves in a bigger and bigger hole not just because of the debt but really because we're not creating any way to get around the debt 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 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 r.t. new york. trouble too in europe of course european markets also braced for monday morning after they took a hammering late last week he use central bank officials indeed holding emergency talks on how to prevent italy from becoming the next victim of the debt crisis for the german government reportedly admitted that the e rescue fund won't be able to save italy the euro zone's third biggest economy if it needs help this week europe and america's debt difficulties triggered panic on the markets the worst plunge since two thousand and eight has got some perspective on but plenty to talk about with economist journal of economic german stephen patrick he's in monaco for us tonight very good evening to you patrick good evening just this weekend financial advisors to the german government reportedly admitting the e.u. rescue fund won't be enough to save italy if it slips in the crisis now it's the

third longest largest economy if it does default what then. well look i mean what the germans have said it's just something that we've all been saying for months and months and months but nobody wanted to realistically appreciate it let's try and understand the science that the numbers here the italian government oh one point it trillion euros now that means nothing to anybody but that is bigger than the total government debt of our land for two golds and greece put together before the end of this year it will be needs to sell bourne's debt which is equivalent to the whole of the greek government bond market in other words all of the greek debt that we've been talking about for weeks and weeks and weeks as being a huge crisis italy is huge and it is just too big to manage to in any way be rescued in the way that other economies have so far being bailed out by the

e.u. so if the worst does happen what you're saying is italy's too big to rescue well. on a minute it's always easier to talk with hindsight i suppose but it wasn't too big to be accepted into the eurozone club in the first place if it was ever too big to rescue how did they invited in well this is the appalling thing that happens when politicians get involved in finance because actually italy should never have been able to join the euro in the first place because it owed far too much money but ultimately the rules were bent and changed and people like things to be fudged on the application forms just as they did with greece incidentally and ultimately they were able to say the euro is a political success and the problem now is the hard headed economic reality has finally it's hardly had the markets are scared and actually we have no political leader who's actually willing to admit just what a crisis we're in at the moment we're hearing just got some news coming through the

fire the germany and france are urging quote complete and speedy implementation of a tally in the span spanish reform measures quite what that means sounds great but whether that's going to calm people down tomorrow morning remains to be seen there that they want some collective decision the central bankers don't they about italy before the markets open but previous game plans haven't really come to anything they didn't stop the stocks plunging what do you think they can come up with this time to avoid panic tomorrow well look the situation is there will probably be a modicum of panic tomorrow unfortunately come what may but actually what the eurozone needs to do is completely rethink the approach that they currently have they need to consider the idea that perhaps they should look at the idea of reworking the existing debt and the system perhaps the roadways are wrong and we can restructure these markets the difficulty is that the governments have been too

slow to react not what you're seeing is that we need an alliance what's coming over the wire from germany or france or basically tacitly saying we can't rescue you your. in your own hounds effectively appley you go to do something and ultimately the latest a hughes that mr berlusconi has come up with where he's going to say if i think sort of forty eight or fifty billion a year and he's going to balance the budget in a couple of years time and somewhere over the horizon everything will be sweetness and light is just not enough to be going away so what happens tomorrow the market open i think very simply we're going to see an incredible amount of volatility although at the same time i suspect that there may be a more muted response from the american dime grid because to be quite frank it's been so widely discussed for so long that perhaps the impact on the american treasury market won't be quite as acute as we might have expected that said we're in for a very exciting day bugsy year of the where does the crunch come how long can the talking go i mean there's major disagreement among e.u. leaders about what to do the talking about expanding the rescue fund buying the

government bonds and debt in states thinking about italy but you know when it is crunch time here well look i mean at the moment the can is being kicked on the road just before we came on air we've obviously seen the european central bank coming out with an announcement saying that effectively they're going to be buying the bonds of italy and spain in the open market tomorrow to try and make things better not actually there's no real economic proof that this ultimately works but that at least means they can probably hold things together until september when most of the politicians come back but realistically without actually a completely new approach some time by september october or maybe november we are in severe danger that the euro zone is going to collapse economist journalist patrick young thank you for joining us from want to thank you nick. still ahead in the program you're an r.t. new political upheaval grips ukraine as police around the tent city that's been set

up by supporters of the team full of problems said to me shame because the threat of security forces lurks in the background. causing all things being a hand in london hardline muslims press for the introduction of tough islamic sharia laws in the british capital we've got that story to come your way in just a few minutes time. almost sixty 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 of dia and twelve in homs province now this is just one of the latest of many violent responses to the unrest that 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 of 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 a year i spoke of modern history lecturer in oxford professor mark owen he says

there's a lot going on backstage in syria right now. who turned to peaceful demonstrators against a dictatorship. trying to ship but in practice or weapons have. been iraq aren't you the sort of groups who were americans in years all. their friends or girl. because he was a friend so we have also. to. intrigue going on behind the rhetoric. about democracy who represents the people and so on i think the real danger is that we could secure a very large scale civil war in syria. russia's president dmitri medvedev says if syrian leader bashar al assad fails to stop the violence and carry out reforms his fate could be a grim one. unfortunately the situation in syria has taken a dramatic turn and real politicians should follow developments but gadhafi gave

violent orders to destroy the opposition the syrian president gave no such orders but 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 ideals reforms need to be carried out but you should establish peace with your position establish peace in the country and create a multi-state if he fails to do that then a sad future awaits 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. just a short there of extensive interview dmitri medvedev gave to r.t. as well as to the radio station and georgian t.v. channel pick and extended versions coming your way in the city a little later this hour. so the revolution is over but few in egypt say their lives are any easier even considering a former president is finally on trial charged with killing and corruption hosni

mubarak denied those charges against him at the opening of his hearing in two accusations of ordering the killing of protesters if convicted mubarak could face the death penalty the eighty three year old in a hospital bed when he appeared alongside his two sons of 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 his maría for national republicans 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 read the people of egypt. this man has been running his own piece in its fourth class to find. it used to bring him enough money to send his son to study to canada and take his large family behold one seeing that with the economic devastation caused by and rastan political

uncertainty mohammed's enterprise has been badly fractured now he can barely afford to feed his children he says the wind of change may have brought freedom to egypt and its grant and survival strong in its wake. you know i like 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 supply just poverty fuel devolution your growth has dropped from five to just one percent some thirteen million people live below the breadline unemployment has hit twelve percent. egypt's revolution was regarded as the most successful arab spring chapter it took eighteen days to end one of the world's longest dictatorships the five months on there is little satisfaction and dictator free egypt is far from the

best place to live i'm afraid that the people are getting very tired and. ready hoppers the people now are talking about mubarak as well much better than a day is today about evolution and this in fact as they're very sad that is out people are indeed tired even those who backed 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 on 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 the 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. a little longer. recently new demonstrations in the square show that there is twice since and has been pushed to the limit and its trade tests versus patience in

the battle to save egypt from crumbling through the roof an option or r t cairo. and in neighboring israel are scenes reminiscent of egypt more than a quarter of a million people took to the streets on saturday night in the late to show of discontent with the government after three weeks of protests over the soaring cost of living with activists demanding the prime minister steps down but he responded with a promise of change for israel's economy and he said of a special panel to deal with the crisis that has a stop cause for an egypt style revolution with one television street labeled as tullie a corner now as artie's policy it 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 when it comes to israel 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 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 to back you know back in the studios ok there is a protest well what exactly is the protest the social protests for the revolution it's not the same kind of story that they used and it's not as big and dramatic as some of the bigger revolutions happening around the middle east and i 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 also of israeli lebanese and syrian conflict and anything that

doesn't fit into that is the immediate time of news 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 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 that we also deserve a chance to be heard out on the streets has been dubbed the corner by some of the people here and optimism perhaps that they can bring down the government in the way they may visit the toughest square. whereas the cameras they were nonstop here they put. the hot seat. because i should expect to keep

a very close eye on developments in israel dot com our web sites constantly updated for you there you can also find a link to our twitter feed almost straight from a worldwide correspondents the news updates at our school also facebook so many ways to keep in contact with us so for our team use they can find all told video stories ready and waiting for you can also join the discussion on what you've seen on our channel and of course not forgetting our rapidly expanding and extensive channel on you tube reports from programs available when you want to subscribe to us russia and around the world. pretty sure three. hundred is free. range and free free. two to three. three blown videos for your media project a free video john darche dot com. police have

surrounded tent set up in ukraine's capital supporters of former prime minister yulia tymoshenko was arrested on friday the protesters fear officers my store in the courts where trials taking place banned gatherings outside. he's got the latest from kiev for you. ukraine's former prime minister still remains in detention center 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 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 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 with 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 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 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. course polocrosse substory field. now

also in brief tonight making headlines over forty people have been arrested and dozens most of them policemen have been injured after riots flared up in london protesters attacked offices over the fatal shooting of a twenty nine year old man last week rioters threw petrol bombs at police and they torched buildings of bus and police patrol cars more than three hundred were involved in what began as a march to demand justice for the killing. of israel supreme court started hearing an appeal from the country's former president russia cuts in march he was sentenced to seven years for raping an employee while he was a cabinet minister in one thousand nine hundred eight he was also convicted of a sentence for sex offenses against two other women during his presidency but allowed to stay out of jail while he appealed from the president's denied any wrongdoing fabian this case is politically motivated. hardline muslims in britain and started a campaign to put several areas of the u.k. under strict sharia law banning drinking gambling and listening to music she is

a small part of the proposals marty's lorimer it has been hearing how they want to instill the tough code. so we are here to tell you that islam. is. stoning for adultery cutting off hands for stealing the 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 wolf. trying to the muslim community also looking we believe that together trade according to the sharia is all the problems. and even police themselves to a large extent hopefully one day to have a summit governorates. security locally and you provide well for local choudhry and his friends all 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. by any means these muslims say british society is riddled with drugs crime and prostitution because of that they firmly believe members of the communities that targeting will welcome sharia 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. this is not india or pakistan this is our own laws people have a right to come you bring their laws in here councillor martin greece saying this could destroy community cohesion we've. taken down the post as soon as i 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 from forests this is an equality campaigners say the surest support is shouldn't be considered a religious movement but

a far right political organization with a place to campaign design. to divide and conquer communities means there 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're your 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 different cases 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 enforcers to make sure syria is headed to verbal e 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 r.t. well from story london. let us know what you think of the story online at r.t. dot com now coming away just over time is tonight on this channel a perfect present from a russian football club cartridge young fans or feel about the most important shortly before that the couple of minutes bring your summary of our top stories here in moscow this sunday thanks bill.

it's.

costing around the world live from something. this is r.t. and this is all round over the top stories from the week with me kevin. the u.s. credit rating has been downgraded for the first time since one thousand nine hundred seventy despite the last minute debt ceiling deal with averted default. bill comes on top of wall street's worst performance in over two years and european debt troubles suggesting the shared roller coaster ride is likely to continue on. now been used to egypt's former presidents on trial for mass killing corruption but a wary public says the revolutions not over yet the replacement. of me. just across the border in israel over a quarter of a million people have rallied against the government bedded bonding better living conditions and say they're ready to do what it takes. to actually ten thirty pm moscow time on the eve of the third anniversary of the size of a war president.