some of the that's the case we could see the ground in theory truly socialist. you can a well it's no socialist civility to go and. read this is the catalyst which is used to retreat. revealing that we stop stories on our t.v. us stripped of its prized aaa credit rating for the first time triggering fears of another global financial crisis has investors ready for a black monday. in the eurozone debt woes provoked a turbulent week with european central bankers now agreeing to buy italian and spanish bonds to stop the rot. plus israelis take to the streets as a quarter of a million protesters demand the government drive down the cost of living or hit the breaks. finally we go to the republic of south ossetia marking three years since the conflict with georgia devastated the region but finally brought recognition.

in moscow i'm not trying to bring you today's top stories and a look back at the week's news here on r t on friday the financial world was shaken after the u.s. was stripped of its perfect aaa credit rating by standard and poor's for the first time since one thousand nine hundred eighteen its rating has been downgraded one notch to double a plus with a negative outlook u.s. treasury department's put on the defensive saying there's a two trillion dollar mistake in their calculations s.n.p. admitted as much but says they're sticking with their decision saying the huge budget deficit is cause of major concern to draw down negotiations for a debt ceiling deal which rescued the country from potential default also ship investor confidence dr rodriguez lay from the university of montreal says the u.s. government's hands and he tied over the economy it shows a lack of confidence in the us. as government we are in an economy stormy you know

way and it seems that the as s. and p. and other economists are saying the us government is spiral i is it's a bit like a ship without a captain in a storm this is not very nice and very good and it doesn't look very good for the next two years because the election is only in two thousand and twelve and then at the end the us government is deadlock and cannot do any very serious policy decisions to counteract the economy going down turn and that danger is that the us economy can turn into a good economy good pressure and that's what politicians american politicians should be trying to avoid and i try to avoid an economy depression where china is a prisoner of the united states you know the main creditor of the united states with more than a trillion and a half. dollars of u.s.

dollars that they hold. hold in their reserves i was the at the fear what china fears that the fed the american central bank would primo money by which for three months and that was this. or that. their investment in the u.s. and they would be. be paid back with monkey money that's why the phrase down the road and they may try to draw from investing in the u.s. and buy gold for example the reason why gold is going up so fast is because countries like china and india i think will be instead of buying u.s. dollars. long lasting political bickering over the u.s. debt ceiling followed by a losman a deal is widely seen as another factor undermining trust in the u.s. economy artie's merino point now has more. 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 the bickering grandstanding and lack of compromise i divisive debate over raising the u.s. debt ceiling created an unprecedented climate of uncertainty over america's so-called sound economy the damage been done no matter what happens now everybody 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 war blow up again since the underlying causes economic problems are getting worse in this country for forty 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. they weren't sure you want to know what'll i do. with this relationship the u.s.

will be in for the only game in. the your community is making noises chinese making noises or you know we're alone now in our ability to be hostile toward him for financing 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 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 send an e-mail tweet keep the pressure on washington and we can get

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. r.t. new york. european markets also braced for a monday morning after they took a hammering last week meanwhile the central bankers have agreed to buy italian and spanish government bonds to calm the markets this after the german government reportedly admitted that the e.u. rescue fund it won't be able to save italy heroes owns third largest economy if it needs help this week europe and america is triggered panic on the markets seeing the worst plunge since two thousand and eight i can on a careless patrick young says the e.u. needs to change its prices approach. let's try and understand both sides of the numbers here the italian government owes one point eight trillion

euros now that means nothing to anybody but that is bigger than the total government debts of our land portugal and greece put together before the end of this year it will be needs to sell bourne's debts 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. italy is huge need is just too big to manage to in any way be rescued in the way that all their economies have sued far being bailed out by the e.u. while the eurozone needs to do is completely rethink the approach that they currently have which i'd actually a completely new approach sometime by september october or maybe november we are in severe danger that the euro zone is going to collapse stay with us there are two still to come new political upheaval grips ukraine as police around the tent cities

set up by supporters of the detained former prime minister yulia timoshenko the threat of security forces works in the background plus. in a landmark trial former egyptian president hosni mubarak bases charges of conspiracy to murder and corruption but many feel that little has changed in the country since the revolution. before we get to that at least forty two people have been killed in syria's eastern city of days in a government crackdown on protesters scores of tanks and armored vehicles are reported to have entered several areas of the city after heavy shelling according to reports another twenty people died in clashes across the country this comes just hours after countries after the country's president bashar al assad declared syria is heading toward reform activists say more than sixteen hundred people were killed in clashes with pro-government forces since the operation started in march the modern history professor from alex for professor mark almond says there's a lot going on backstage in syria. who came to see if there's

a peaceful demonstrators against a dictatorship there is a sinking ship but in practice the weapons have. some of iraq's parliament. in years old. girl marks. who have also three brothers of older. going on behind the rhetoric of folks who. were who represents. the real danger is that we could see her very. poor and sort of. revolution is over but few in egypt say their lives are getting any easier even considering that their former president is finally on trial charged with corruption and murder me mubarak denied the charges against him at the opening of his hearing into accusations of ordering the killing of protesters if convicted mubarak could face the death penalty and 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 murder however six months afterwards was toppled the post revolutionary chaos makes many egyptians say they are yearning for the years prior artie's worry if you know. this quaint cairo is now one of the most famous in the world and many around the globe even those with little knowledge of arabic know its name perfectly it means liberation well the revolution of january put this positive life on the map but apart from that what else did read the people of egypt . these men has been running his own piece and that's the fun. it used to bring him enough money to send his son to study to canada and take his large family implode in one see. between the economics of the station caused by and rastan the political uncertainty. the price has been badly in fact it now he can barely have food to feed his children he says the wind of change may have brought freedom to egypt but

its grant and survival stone in its wake. but you know i loved the revolution when it happened i welcomed it that looked at the time like a light at the end of the planet we see it's not getting better we have nothing to eat just don't tell me about the market 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 it took eighteen days to end one of the world's longest dictatorships and wide minds on there is little satisfaction and dictator free egypt is far from the best place to live and a. very. very hard for the people now are talking about as much then they. will be

and 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 but all he says sounds a lot like south conviction that he got out and as i 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 demonstrations in the square show that there is twice this and has been pushed the limit and it's protests versus patience and the battle to save egypt's from crumbling further grief an optional r t cairo. life may only get worse for an egyptian people as they fall prey to a political game according to william engdahl who has 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 since the events of january tourism is not going to be back any time soon but even still there was a rather healthy growth curve in the last several years even on the rock 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 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 bode well at all for you

just so i don't think young people have more democracy i think perhaps even less. and neighboring israel more than a quarter of a million people took to the streets saturday to vent their anger at the high cost of living and on affordable housing prices israeli prime minister benjamin netanyahu has responded by appointing a new financial team responsible for examining the reduction of taxes and improving access to social services those are his policy reports protesters are concerned other storm are getting their message across. 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 has been very violent it's been very violent and also in a very positive. twenty two week three the largest demonstration in israel in over

a decade and how did a.b.c. c.b.s. and n.b.c. coverage they didn't a younger woman set up a tent like the editors of france twenty four b.b.c. and sky coughed up just a few meager seconds perhaps not even that interesting to. you in the studios there is a protest well what exactly is the protests the social protests or revolution 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 these really place for a decade reporting for media both foreign and local there is a box that the international media has put israel is really palestinian conflict also the israeli syrian conflict anything that doesn't fit into that. 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. in the oven 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 this piece has been down some feel cornered by some of the people here an optimism perhaps that they can bring down the government in the way they neighbors even his school. bus was the cameras they were rolling nonstop if they perceive absence for to see. that they. are keeping a close eye on developments in israel at r t v dot com and if you follow our twitter feed you can hear straight from our correspondents worldwide on the latest news and updates that's out r t underscore twitter on facebook you can search for

our team news you'll find our top videos stories ready and waiting there for you and you can also join the discussion on what you've seen on our air pulses are rapidly expanding and extensive and you tube channel all with our reports and programs available for you when you want that to us explore the news from russia around the world. could take three. three. three. three. videos for your media project a free media. events of early august three years ago change the map of the caucasus forever a five day war on leash by georgia against its former republic of south ossetia left the region devastated blocking any chance of reconciliation in the first seeable future medina coaching over

a ports now from the remember and ceremony for the victims of the conflict of the south as i.t.n. capital and bot. here in the central square of the capital city to involve the morial services are under way this so many started as a loving three five pm that exactly the time when george opened fire over this says he throwing people out of their bags hundreds have come here to light candles and pray for those who died here three years ago in a brief conflict and many are listening to the rescue the woman saw and said they're looking at pictures there was taken as you ring the conflict and are being shown on why screens that are placed across the central square of the atmosphere here is of course the very size of male wearing black and some women even have a pictures of their dads or relatives on their chests locals we talked to say very never expected such a sudden attack. like it's very difficult to answer this question because in any

case who are always present poses there are suffering and pain to all the bereaved families who can justify any words the reasoning can bring back the lives of innocent people and i think we should realize that such mistakes should not be repeated and we should maximum effort to avoid the suffering of children human life is very precious and can afford being responsible when it comes to who come to your people over territory. or any other regime you put our governments choose to use. the georgian aggression and the tough policy of six really evil my deepest resentment i think we should all live in peace and try to find ways of communicating other than war. memorial services and will continue in different parts of the search was on monday the war lost its pull five days but hundreds were killed and many injuries and the face of the sochi has changed three years with a new residential areas

a new roads and hearth being opened still locals say they are trying to restore their lives and memories of what happened here are still alive in their hearts. russian peacekeepers station i.p.o. set in capital were among the first to experience the georgian president dmitry medvedev recalls the tragic events of that night. there was a very remind you what was going on there on the night between august the seventh and orbits the eighth i received a phone call from the defense minister i was on vacation at the time sailing down the volga river and the whole world was looking forward to the olympics that were about to take off in china the minister told me that georgia had launched a full scale combat operation to be honest my initial reaction was complete doubt that i told the minister that we should check this really completely out of his mind maybe it's just a provocative act maybe he stress testing of your settings and trying to send out some kind of message an hour later the minister reported to me feel better this is

no bluff they've unleashed an all out artillery barrage and they're using grad rocket launchers and whatnot i said all right i'll wait for another update or some more time passed and the minister called again i have something to tell you i believe they've just leveled a tent full of our peacekeepers killing every one of them and what was i supposed to do i said return fire and shoot to kill. medvedev gave that interview to r t along with the radio and georgian t.v. channel pete an extended version is coming your way in the next hour here on r t so stay with us also ahead on the program a look at how the s.s. marches commemorating the dead are bringing nazi ideas back to life and modernist go here. but first riot police have surrounded tent camps set up in ukraine's capital by supporters of former prime minister yulia timoshenko who was arrested friday the protesters fear officers may storm the camps after the court where her trial is taking place banned gatherings outside parties like sara she has

more from. ukraine's former prime minister yulia timoshenko still remains in detention center in kenya following the decision by according to place on the arrest for that you 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 units with many organizations in europe with the parliamentary assembly view of the council of europe all criticizing this decision and urging the authorities in ukraine to release you to some extent 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. throughout the 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 the national guard to arrest you know to some other stories making headlines across the globe more than forty people were arrested dozens most of them police many 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 torching buildings of dos and patrol cars within 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 katsav in march he was said to seven years for raping an employee while he was in a cabinet minister in the one nine hundred ninety eight he was also convicted and sentenced for sex offenses against two other women during his presidency and allowed to stay out of jail while he appealed the former president was to not have denied any wrongdoing claiming his case is politically motivated. veterans from former veterans from a nazi s.s. units in a stone e.o. in a stone cabin to commemorate a battle with the soviet red army this week it's the kind of meeting band across most of europe as a glorification of naziism but in a stone yet it was a rival anti-fascist rally that was prevented. reports on how pro nazi sentiment to maybe feeding a new ultra right wing movement. well here in the estonian town a cinema but in one thousand nine hundred forty four it's a scene of fierce fighting between status soldiers yes. we're here by the monument

to commemorate the save its soldiers that died in that fight less than a mile away and all save the scene at the gathering of veterans of the stay near worth an effort it's an event it's a widespread criticism the core of buying art is a. former soldier. i offer on but. it's something moments you don't think about think about people. of. whom country and most of year at these kind of events a down. in order and to hear. it in a stirring years a different story altogether. it's common in the story to call these people freedom fighters we hold our protest rallies on the stream do you hold this event to remind

them what they are giving allegiance to hitler. they have never liberated in fact in recent years he is still in you know thirty and made it increasingly difficult for those who come to oppose the events this year once again members of the anti fascism movement which attained at the buddha. by the police because we were traveling in was also a stop for questioning on the way in i was stopped and i was told. i have an entry to the contrary. to any kind of other opinions than their own opinion which is very very much supporting the basis of the revival of the far right across europe has caused you owing concern the right parties and gaining ground in countries like australia finland and france the savage sluice are by far right extremists and in. bravery can always recently has driven home just how dangerous these these remain

be the city far failed to take decisive action to stop the nazi commemorations within its borders russia's push for international legislation to condemn the glorification of wartime fascism but events like the one in history and make it clear in a clear they're not all countries are on board critics of this event hardly that the gathering provides a forum for dangerous near fascist ideas and the government's failure to ban it is seen at the very least as being morally and politically insensitive surfer r.c. . but a recap of our top stories in a few moments stay with us here on r.t. . it's.

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