first time since nine hundred seventeen 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. and p. admitted as much but says they're sticking with their decision saying the huge budget deficit is a cause of major concern the drawn out negotiations for a debt ceiling deal which rescued the country from potential default also shook investor confidence dr rodriguez tremblay from the university of montreal says the u.s. government's hands maybe the economy it shows a lack of confidence in the u.s. government we are in there within an economy stormy to you no way and it seems that the as a b. and other economists are saying the u.s. government is spider ally is it's a bit like a ship without a captain in a storm this is not very nice very good and it doesn't look very good for the next three years because the election is only in two thousand and twelve and then at the

end the u.s. government is deadlocked and cannot do any very serious policy decisions to counteract the economy don't turn and that danger is that the u.s. economy can turn into an economy depression and that's what politicians american politicians should be trying to avoid are trying to award an economy depression where china is a bit a prisoner of the united states you know the other main creditor of the united states with more than a trillion and a half. dollars the u.s. dollar is that they hold. holding their reserve was the fear what china fears that the fed the american central bank loan money treasury bonds and that. the u.s. dollar that depreciated investment in the u.s. and they would be. paid back with monkey money that's why the. they are afraid down

the road and they may try to draw from investing in the u.s. and buy 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. the 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 marina porton i has more. help us avoid default debt ceiling nation default and that's crisis time's running out the entire world is watching it's been a public spectacle filled with bickering grandstanding and lack of compromise i devise of 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 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 war and blow up again since the underlying causes economic problems are getting worse in this country for 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 is like being married to someone decide. if they were jerks you want to know what or why do. i put up with this relationship the u.s. will be in for a long time the only game in jail with the your community is making noises chinese making noises were you know 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 say 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 dad but really because we're not creating any way to get out of 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 send an 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 niall r.t. new york. european markets also braced for a monday morning after they took

a hammering last week meanwhile you 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 won't be able to save italy the euro zone's third largest economy if it needs help this week europe and america's debt difficulties triggered panic on the markets seeing the worst plunge since two thousand and eight economic journalist patrick young says the needs to change its prices approach. let's try and understand the size of the numbers here the italian government owes one point eight trillion euros now that means nothing to anybody but dottie's bigger than the total government debt arland portugal and greece put together before the end of this year it will be needs to sell bolton's debts which is equivalent to the whole of the greek government boland market in other words all of the greek debt that we've been talking about for weeks and weeks and weeks is being. italy is huge need

is just too big to manage it any way be rescued in the way that all their economies have soufan are being bailed out by the e.u. that is what the euro zone 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 here on r.t. still to come new political upheaval grips ukraine as police around the tent city set up by supporters of the detained former prime minister yulia timoshenko the threat of security forces lurks in the background plus. in the landmark trial former egyptian president hosni mubarak faces 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 day or hours or 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 the former 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 oxford professor mark almond says there's a lot going on backstage in syria. who tended to see it as peaceful demonstrations against the tension there is a tanker ship but in practice the weapons have. the iraq a moment some groups who hold the americans. years old. girl are sad. because. we have also. to.

intrigue going on behind the rhetoric of folks who know about democracy to know who represents the i think the real danger is that we could see you know very little civil war in syria. 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 mubarak deny 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 after obama was toppled the post-revolutionary chaos makes many egyptians say they are yearning for the years prior artie's maria notion of. 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 to bring 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 sea. between the economic to the station 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 but it's brought a survival stone in its weight. 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 tunnel we see it's not getting better we have nothing to eat 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 he twelve percent. egypt's revolution was a. god it was the major successful arab spring chapter it took eighteen days to end one of the world's longest dictatorships but five months on there is little satisfaction and dictator free egypt is far from the best place to live in the period of the people. and. the people now according about mubarak as well much better than that they. would be a better solution and this in fact they're very sad that it is our 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 because 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 longer. recent three need demonstrations in the square show that there's toys system has been pushed to the limit and it's protests versus patients and the battle to save egypt from crumbling further duration optionor r t cairo. life may only get worse for me gyptian 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 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 youths were brought onto 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 bode well at all for he just so i don't think young people have more democracy i think perhaps they have even less. in neighboring israel more than a quarter of a million people took to the streets saturday night 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 but are his policy reports protesters are concerned that they're still not 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 hadn'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 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 in the studios ok there's a protest what exactly is a protest a social protest or revolution it's not the same kind of story that they're used to

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 kind of fit into that. immediate 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. make ends meet as a university student it makes me feel sad that when egypt decided to stand up and say we've had enough and in the oven and they've 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 that we

also deserve a chance to be heard out on the street. corner by some of the people and optimism perhaps that they can bring down the government in the way they maybe didn't tell his school. bus what is the cameras they will stop if they put. on see that they. are keeping a close eye on developments in israel at r t 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 at our t underscore on twitter on facebook you can search for 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 our rapidly expanding and extensive you tube channel all with our reports and programs available for you when you want them to describe to us explore the news from russia and around the world. couldn't take three. three. three.

three. three. videos for your media project a free media. the events of early august three years ago change the map of the caucasus forever the five day war unleashed by georgia against its former republic of south 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 capital. here in the central square of the capital city the morial services are under way this so many started as a loving thirty that exactly the time when george opened fire over the city for all we people out of their bad hundreds have come here to light candles and pray for

those who died had three years ago in their brief conflict mamie are listening to the rag the elements and they're looking at pictures that were taken if you bring the cars looked and they are being shown on why screens that are placed across the central square of the atmosphere here is a choice of a very male wearing black and some women even have a picture of their dad or relatives on their chests locals we talked to say that we never expected such a sudden attack. it's very difficult to answer this question because in any case who are always present poses the suffering and pain to all the bereaved families you can't justify by any words reasoning can bring back the lives of the innocent people and i think we should realize that such mistakes should not be repeated and we should put maximum effort to avoid the suffering of children human life is very precious o'conner for being responsible when it comes to who can kill people over

territory or borders or any other reason we put our governments choose to use. the george integration and the tough policy of circus really evoke my deepest resentment i think we should all live in peace and try to find ways of communicating other than war. memorial services will continue in different parts of the monday the war lasted full five days but hundreds were killed and many injuries and the face of the city has changed. three years with a new residential areas in new rows and hearts being opened still locals say they are trying to restore their lives and memories of what happened here are still. in their hearts. russian peacekeepers stationed out here set in capital were among the first to experience the georgian president dmitry medvedev recalls the tragic events of that night. let me remind you what was going on there on the night between august the seventh and 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 i told the minister we should check this really completely out of his mind maybe it's just a provocative act and maybe he stress testing of your settings and trying to send us some kind of message and i will later the minister reported to me 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 old wait for another update some more time passed in 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 what was i supposed to do i said return fire and shoot to kill. he made better gave that interview to our

t.v. along with the radio and georgian t.v. channel peek 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 in modernist don't you. 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 of the court where her trials are taking place in banda gatherings outside parties like sarah he has more from kiyo. ukraine's former prime minister yulia timoshenko still remains in detention center in kiev following the decision by according to placed on the arrest before that you would have been forbidden to leave the country now she was put behind bars as the judges explained because of her bad behavior during the trial now. 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 you to go 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 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 are determined to stay there twenty four. how is the day and wender stand

but they are trying to garner more people are asking people from all over the country to come to kiev and voice their protest against the decision to place the rest to another some other stories making headlines across the globe more than forty people were arrested in dozens most of them 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 of police and torching buildings a bus and patrol cars within three hundred were involved in what began as a march to demand justice for the killing. israel supreme court has started hearing an appeal from the country's former president moshe katsav in march he was sentenced to seven years for raping an employee while he was in a cabinet minister in one nine 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 was denied has

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 gathered 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 it was a rival anti-fascist rally that was prevented r.t. sorrow for its reports on how pro nazi sentiment to maybe feeding a new ultra right wing movement. in the a stain in town the cinema that a nineteen forty full it's a scene of fierce fighting between save and yes this is well hit by the monument to commemorate the save us soldiers that died in that fight less than a mile away and this town's all save the scene at the gathering of veterans that the stain your life an aesthetic it's an event this game why spread kris's and the glorifying naziism. league. the association of

soul. lawfulness off or on but. it's something at the moment you don't think about later or think about people. the for. whom country and most of europe these kind of events abound. in order to hear. it in a stirring year it's a different story altogether. it's common in the story you know to call these people freedom fighters we hold our protest rallies on the same day they hold this event. they are given allegiance to hitler to tell them what they had never liberated estonia in fact in recent years the astin you know thirty's have made it increasingly difficult for those who come to oppose the event this year once again members of the anti fascist movement were detained at the buddha and pulled over by the police the car we were traveling in was also stopped for questioning on the way

in i was stopped and i was told. i have an entry prohibition due to the country and of course they don't want to be 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 growing concern right parties a gaining ground in countries like austria finland and france savage slaughter by far right extremists and as brave in norway recently has driven home just how dangerous these years remain the say far failed to take decisive action to stop nazi commemorations within its borders russia's push for international legislation to condemn the glorification of wartime fascism but events like the one in a sting and make it clear in a clear the not all countries are on board critics of this event hardly that the gathering provides a for and for dangerous near fascist ideas the government's failure to ban it is

seen at the very least as being morally and politically insensitive serves. we're back with a recap of our top stories in a few moments stay with us here on r.t. .

wealthy british style. is not on the tightest. of. markets why not come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune in to kaiser report on our.

mind in motion would be so much brighter if you knew more about song from phones to impressions. stunts on t.v. don't come. for the we've got. the biggest issues get a human voice ceased to face with the news makers.

three thirty am in moscow bring you today's top stories and a look back at the week's headlines here on r t the us is stripped of its prize aaa credit rating for the first time triggering fears of another global financial downturn as investors ready for a black monday the downgrade comes despite the white house making a last minute deal with republicans to raise the country's debt ceiling. in the eurozone debt woes provoke a turbulent week with european central bankers now agreeing to buy italian and spanish bonds to stop the rot brussels is worried that italy's economy fails it would be too big to rescue and it could drag the whole currency down with it. and demonstrations in israel as a quarter of a million protesters demand the government drive down the cost of living or go prime minister netanyahu set up a team looking at reducing taxes but the opposition says he's trying to end the protests not deal with the issues.