with the top stories of the past seven days with me kevin zero in this hour it's now just after midnight moscow time and first last 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 a double a plus with a negative outlook white house officials are on the defensive about saying there's a two trillion dollar calculation mistake s. and p. admitted that but it is sticking with its decision to present a huge budget deficit is still a cause for major concern all this despite the last minute debt deal that narrowly rescued the country from default or for more on the u.s. rating downgraded now joined live by dr rodriguez primly economist of university of montreal thanks for being with us dr so yes the markets open in a few hours rule watching to see what happens are we about to see the implications of that downgrade on the global markets what do you think's going to happen. well

there would be consequences yes and friday's that downgrading it shows a lack of confidence in the u.s. government we are in and within an economy stormy to you no way and it seems that the as s. and b. and other economists are saying the u.s. government is spiraling it's a bit like a ship without a captain in a storm that's is not very nice and very good and it doesn't look very good for the next three years because the election is on the in two thousand and twelve and then at the end the u.s. government is that block and cannot do any very serious policy decisions to counteract the economy downturn and that danger is that the u.s. economy can turn into a an economy depression and that's what politicians american politicians should be trying to avoid are trying to ward an economy depression we've heard other people

approach him saying the very same thing as well tonight let's just recap the full horror show wait that debt ceiling was raised last week and all that debt therefore plus some is of course still the s. and pay slashes the u.s. rating citing insufficient spending cuts what is the future of the american economy do you think as bad as some make some people. well regarding that fiscal policy you have to understand that over the next ten years the u.s. debt which was fourteen point two was about to rise. nine point five trillion dollars. what the american politicians did president obama and congress was to take a minimum cut out of that take two to build. and a half from that and then set of i think twenty three point five. trillion dollars of that ten years from now it would be on the twenty one. dollar at that so they

did the minimum they didn't do it they didn't do it what actually is that would have cut the pair into a you know instead of would have cut between four and five trillion of the nine point five trillion but that is going to explode but out of policy it's also are very on economy. in the u.s. presently and they contribute to the downturn you come back down to well he certainly has the pieces china it is fear is it's a cool supporting an awful lot of debt it's also calling for a new reserve currency now a more reliable one what will happen if china abandons the dollar and you think it might even be considering that. well china is a bit of a prisoner of the united states you know they are the other main creditor of the united states more than a trillion and a half. dollars of u.s. dollars of that they owe. owed on their reserves what they fear what china fears that the fed the american central bank will print more money will buy what treasury

bonds and that depreciate the u.s. dollar that. investment in the u.s. and they would be. be paid back with monkey money that's why they are afraid down the road and they may try to draw from investing in the u.s. and buy more gold for example the reason why well it is going up so fast because countries like china and india are buying gold instead of buying u.s. dollars don't let's take a quick look at to europe we've talked about the u.s. there's talk about you and she we and the eurozone crisis how possible to think it is that we'll see that the global landscape changing dramatically with maybe emerging powers like the bric nations taking the lead now. whereas as you mention europe is very important for the world economy it's about a quarter of the world economy and the u.s. also is a quarter of the u.s. economy so we have talking of after. the world economy both are in trouble

now but what are the deflation what we can be called a. psycho and it's very bad for the world economy grows these two engine of economic growth in the world are facing biggest problems and we should not be in europe with the greek. debt crisis we know that we know that italy now is asking the european central bank for assistance and we know that they're spraying and portugal and ireland are and difficulty and this indicates that the. slow stroke growth in europe i mean to us for the next few weeks ok well we're watching carefully of course especially the more say oh all this kicks off thanks ever so much fear and pull down from a break it trembly economists from the university of montreal joining us tonight nice to talk to your cabin all right well as we just mentioned the european markets all braced for monday morning after they took out how marine last week central bank

officials are holding mergence in talks on whether to buy a tally in and spanish government bonds to try to calm the markets a little softer the german government reportedly admitted that the e.u. rescue fund won't be able to save its elite the euro zone's third biggest economy if it needs help this week europe and america's debt difficulties to panic on the markets that sort of worst plunge since two thousand and eight economic journalist patrick young told me the e.u. needs to change its crisis approach immediately. let's try and understand the science of the numbers here the italian government owes one point eight trillion euros now that means nothing to anybody but not is bigger than the total government debt of our land portugal and greece. put together before the end of this year it will lead 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 is being illusion races 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. what the euro zone needs to do is completely rethink the approach that they currently have which i'd 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 coming up in a program new political upheaval grips ukraine as police run the tent city that's been set up by supporters of the tame forthrightness to move the threat of the security forces that lurks in the background our cameras are there we've got the latest also cutting off leaving hands in london hardline muslims pressed for the introduction of tough islamic sharia laws in the british capital go to reform and just a few minutes ago. 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 derails twelve in homs 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 year one history lecturer from oxford professor mark colvin says there's a lot going on backstage in syria now. turned to syria turns peaceful demonstrators against a good patient. turned to shit for crackers who. most have come to surrender screaming some in iraq aren't you the sort who sold groups who were hostile to americans in the early years all patients their friends all girl are sad. because he's

a friend so we have also writers of over to. intrigue going on behind the rhetoric of both sides talking about democracy at work where who represents the people and so on and i think the real danger is that we could see you know a very large scale civil war in syria. russia's president to be for a vote of says if syrian leader bashar al assad fails to stop the violence and carry out reforms is fake could be a green one. unfortunately the situation in syria has taken a dramatic turn we real politicians 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 him i discussed the same ideals. need to be carried out you should establish your position establish peace in the country and create

a new 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 too. extensive interview to me to revive gave to us as well as the echo must be radio station and georgian t.v. channel pick you can watch the extended version coming up in about twenty minutes time tonight in fact as well here on r.t. . or the revolutions are over but few in egypt say their lives are any easier these days he's considering the former president's 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 long appeared alongside his two sons and top aides were also accused of corruption a mass killing however six months after mubarak was toppled the post revolutionary chaos makes many egyptians yearn for what went before.

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 you 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 large family abroad one seeing that with the economic devastation caused by and rest and political uncertainty mahomet's into price 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 brought a 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 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 may 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 in a free the people are getting very tired and they are getting ready hoppers the people now are hoping about as much better than a day after day about evolution and this in fact as their very sad that is out 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 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 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. in the. recent tree need to mistreat big square shoes at this time he says he's been pushed to the limit and its trade tests versus patience in the battle to save egypt from crumbling through. r t cairo. and life only get worse for the egyptian people too as they fell prey to a political game says f winnie mandela he's written extensively about egypt's uprising there has been no revolution in egypt i said so and in our t.v. interview in 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 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 while 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 youth were brought on to 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 the just so i don't think young people have more democracy i think perhaps even less.

and 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 protests over the soaring cost of living with activists demanding the prime minister steps down but human self is responded with a promise of change for israel's economy and he set up a special panel to deal with the crisis but that doesn't stop calls for an egypt style revolution with one television street labeled as a corner as are two policy 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. and protesting for change but is anyone listening when it comes to throw 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 that 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 to. back you know 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 that they used and it's 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 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 the israeli lebanese and syrian conflict and anything that doesn't fit into that is in. media type of. which is

unfortunate that just makes. for nine days she's been camping. make ends meet as a university student in. 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 street. corner by some of the people and optimism. in the way. it's. non-stop here they put. well we're keeping a close eye on developments in israel. if you follow our twitter feeds linked to a website you can to strike from a worldwide correspondence with the latest news updates on the school or facebook

search for our team usual find our top videos stories they're already waiting for you can also join the discussion on what you see i know. you also mentioned our rapidly expanding extensive. five hundred million hits so called everything we want to share. with you online as well subscribe to our some explore. mission. critical three. hundred three arrangement three. three. two three. old free blog video. free media. police have surrounded. by supporters of former prime minister. it was arrested on friday the protesters fear officers my store to the trials taking place banned

gatherings outside. from kiev. ukraine's former prime minister yulia timoshenko still remains in detention in kenya following the decision by boarding p. of two placed under arrest before that i mean forbid him to leave the country now she was put behind bars as a judge to blame 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 units and 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 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 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 a place to rest. but his lecture is your scheme also in brief tonight over forty people have been arrested and dozens most of the policemen injured after riots flared up in north london protesters attacked officers over the fatal shooting of a twenty nine year old man last week rioters threw petrol bombs at police and

torched buildings a bus and police patrol cars more than three hundred were involved in what began as a march to demand justice for the killing. israel supreme court's started hearing an appeal now from the country's former president moshe katsav in march he was sentenced to seven years for raping an employee while he was a cabinet minister in one hundred ninety 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 is denied any wrongdoing claiming his case is politically motivated. muslims in britain have started a campaign to put several areas of the u.k. under strict sharia law banning drinking gambling and listening to music is just a small part of the proposals are to spin 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

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 walthamstow. because of the islam as an alternative to the muslim of 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 governments will 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. 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 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 find somewhere where. this is not india or pakistan this is our own laws people have no rights can hear 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 this is an equality campaign as say the shari'a supporters shouldn't be considered a religious movement as a far right political organization with a place to campaign design. to divide and conquer communities their 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 and his group plan what they see is the beginning of an islamic emirate not just of the one k. 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 headed 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 r.t. well some story loved it. if you had come your way just by twenty minutes time tonight or not see the perfect present from

a russian football club serious car to its young fans all reveal the passport for that will bring you some of our top stories in a couple of minutes i'm kevin owen in moscow tonight thanks for being with us.

the fact. is he. says. wealthy british scientists are also sometimes that's right.

and some of the. markets going to succumb to find out what's really happening to the global economy for a no holds barred look at the global financial headline just to name two kinds of reports on our to. the looming subsists loses. some. xico.

world looks really new the latest in science and technology from around.

you're watching the weekly here on out with me and it's a round of the top stories. i mean u.s. credit rating has been downgraded for the first time since nineteen seventeen that's despite the last minute debt ceiling deal but the first full. well this comes on top of wall street's worst performance in over two years and european debt troubles suggesting the roller coaster ride to continue monday just a few. egypt's former presidents on trial for mass killing and corruption for the weary public says the revolution is not over yet as the replacement regime is failing. just across the border in israel over a quarter of a million people rallied against the government demanding better living conditions and say. what it. on the eve of the third anniversary of the south a setia war president medvedev spoke to auti as well as the echo must be read.