downgrades. refuses to heal with priests who does it they. are just a call to deal with the latest from the region. is way you all does this mean for the age of the cold to me. that's right the asian markets are tumbling today which is what many analysts predicted on friday when this credit downgrading rating was released we're already seeing the markets tumbling in hong kong japan south korea and australia we have yet to see what's going to happen specifically in india but obviously this is what many financial analysts had predicted on friday we were already starting to see the markets tumbled on friday in reaction to the u.s. debt ceiling debate and these new credit rating downgrade so. asian markets are reacting very strongly they have a vested interest in what's going on in the united states they are holding three

trillion dollars the united states debt so everyone's watching very closely here to see what's happening china is the number one holder in u.s. debt chip pan is number two they both have reacted very strongly to this crisis china calling all of this immoral and responsible and saying that the united states must to deal with this immediately. that is china and india my dismay. to the group. so a lot of investors are saying that if you move away from u.s. treasuries they're going to have to diversify diversify excuse me by investing in asian markets so the markets that are stand to benefit to benefit from all of this would be asian markets like hong kong so let's listen to one analyst what one analyst had to say about that. i think this woman. but there

you are. the economic situation. where you want to be the futurist will be. country and i sure will try to do with i mean they're going to buy. the country not simply u.s. one. and obviously there's been a lot of talk about moving away from the u.s. dollar as the reserve currency in the world and obviously there's been a lot of talk about adding asian currencies into that of basket currencies that would be used in fab fichu for the american dollar seven the leading industrial countries in the world actually had an emergency phone call yesterday addressing all of this and that was one of the things that they had to talk about they also issued a statement saying that the united states must feel with this crisis immediately so asian markets are definitely being impacted greatly by what's happening in the

united states thanks for your perspective on what's happening with the world stock markets of the moment appreciated there for us from new delhi ok well a russian soldiers are also expected to feel the pinch when they had in just a couple of hours time with friday trading ending in the negative territory things outside the us this exchange in moscow here one of russia's two bourses so how might the debts of the u.s. and your way on russia. we still russian shows dive in line with the global markets at the end of last week then of course to the weekend we saw the credit ratings agency standard and poor's downgrade the u.s. one not sure this aaa rating right now because that downgrade happened all the close of trading on friday we have to wait until the markets ten am in a couple of hours' time before we can fully assess the impact of the loss of america's aaa rating now some analysts. addictions have pointed towards

a possible initial negative impact the possibility of an initial reflex panic selfish as all those in the more optimistic side they've also said that there are they think that traders will be able to resist a black monday type of situation the much of the markets. where expecting something like this could potentially happen and other analysts have been quick to point out as well that the double a rating of the u.s. now still though is the first time in the u.s. history that that's happened is still a reliable racing but nonetheless we have really seen a global crisis of confidence in the u.s. economy over the weekend because really coming off with criticisms covering it coming in from india and from china what are the chinese official news agency school this u.s. debt addiction now as the concerns and a lot of anxiety over exactly what will happen in a couple of hours' time when the markets do a pin and that's continuing calls the u.s.

to get its financial house in order my colleague moving up or not it's been taking a closer look at u.s. spending. comedian george carlin always spoke frankly about his nation the only true american value that's left. by people spending money they don't have on things they don't need today country long driven by borrowing and consuming is in desperate need to cut it spending it was defense and security spending has remained untouchable soaking up seven hundred five billion dollars were twenty percent of federal funds every year since two thousand and one for the one point two trillion dollars have been spent on the wars in iraq and afghanistan but now with fourteen point four trillion in the hole some economists say it's time for the u.s. to compromise world domination for domestic stability also probably have to see a significant question more questioning and downsizing. of the several hundred

foreign military bases we have given the size of the budget problems and the growing issues around the national debt and the debt ceiling it is fairly well assured that the budget will be cut for defense and it probably needs to be cut more than is presently proposed for the pentagon priorities may be different the department reportedly spent twenty three billion dollars on global hawk drones alone this year taxpayers are estimated to spend one hundred twenty two billion dollars on the war in afghanistan the same amount that could cover an estimated twenty five million americans with low income health care an empire costs a lot of money because you have to spend a lot of money to defend it you have to spend a lot of money to promote it you have to have a lot of people working on various aspects of it came out makes support for imperial adventures around the world the consequences of money is leaving the united states going to other places not to the places in the united states that need it the most needing it most is the country's neglected infrastructure and jobs

that come with rebuilding according to the american society of civil engineers a quarter of america's six hundred thousand bridges are listed as deficient and nearly half of american households don't have access to public transportation ongoing federal budget cuts are expected to force thousands of post offices and fire departments to close more than forty million americans on food stamps they also make sacrifices we just cut the food stamp budget by twelve billion dollars we have multiple experimental ongoing programs in the defense department each of which is large enough to offset the food stamp cuts and i think if we have forty one million people already who are dependent on government aid for food getting food to them is probably a first priority but defense secretary leon panetta is looking further afield for his priorities we are nation at war. we face a broad and growing range of security threats and challenges. that our military

must be prepared to confront from terrorist networks to rogue nations that are making efforts to obtain a nuclear capability to dealing with rising power it's. always look at us to determine whether or not we will in fact maintain a strong defense here and throughout the world eyes on the world while citizens face mounting struggles at home that's what the owners count on the fact that americans will probably remain willfully ignorant of the big red white and blue being jammed up there every day because the owners of this country know the truth it's called the american dream because you have to be asleep to believe that marina portnoy r.t. new york. or your markets all braced for monday morning alters and. meanwhile european central bank officials agreed to by the balls to find the continental debt

crisis although it's not yet which belongs the bank is going to buy ex-pats expect them to be from debt laden countries like italy and spain the german government reported the missing rescue fund won't be able to say this only here is aims biggest economy if it needs help the g seven group and most industrialized nations are all saying valid to support financial stability and welcomed what it called decisive action is taken in the u.s. and europe but economics genesis says the e.u. needs to change turn immediately. let's try and understand both sides of the numbers here the italian government 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 lead needs to sell baldwins gas which is equivalent to the whole

of the green. 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 looted. italy is huge need is just a true big to manage it anyway be rescued in the way that other economies have so far been bailed out by the e.u. what the euro zone needs to do is completely rethink the approach that they currently have so we're going to 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 well our business team has the world's markets on a close watch and i have an update for you in just a few minutes. also coming up later in the program the new great fire of long standing buildings ports billings calls moves in and more violence we report on the two days of violence the grips parts of the british capital.

and syria now under pressure from the arab world's most powerful nation a saudi arabia pulls them boy and orders the bloodshed to stop. three years ago the people of the small republic of south ossetia came under artillery attack by neighbor georgia the brave for all in which it's a p.c. trying to reclaim its old territory claimed hundreds of lives become a mirage and services have been held across south ossetia during the night marking the moment georgia began shelling people arrived in church to light candles and remember those who died in the five day conflict which claimed hundreds of lives assays been missing boys who lost their loved ones in the short bloody war. i come here almost every day i sit and talk to my son i will lie next to my dear boy. for the last three years stacey has come to this cemetery in south the says

here where her son is bury it five days in. two thousand and eight split her life into a before and after. when her son daughter a medical college graduate heard the republic's capital teen vaal was under attack from georgia she rushed home to help the injured he died in her arms as they lay trapped for days under the rubble of their apartment block that was in the georgian alterian firing line. the only thing that makes her life worth living now is her twenty year old daughter they now live together in a newly built house to rounded by families for similar tragic stories of. this area where we're live with specially built to those families who lost loved ones and were left with nothing in the tarps across the street lives of women who lost two children and to the house opposite lives

a man who lost both his wife and his child. all these people are victims of georgia's military aggression in all those two thousand and eight when you try to retake control of the breakaway republic of south ossetia a russian peacekeeping mission in the region also came under fire nursed my abuse dive i was on duty with them and witnessed average thing that happened that night for i saw him wrong far when you know it was going to be our last night but it was still carried out peacekeeping mission and tried to be calm. most cool sound trained force meant to protect its citizens and prevent more civilian deaths within five days georgian troops had been repelled three weeks later russia recognized the settee as independence. the last three years have changed the face of this thursday i new residential air where new roads jobs and invest in you have been built.

but. the conflict remains this behind my back i got all that slapped a good russian peacekeeping pulse for those who lived through the horrors of the brief but deadly conflict the memories are still very wroth much of the question archie reporting from t. involves author sacha. well j.m.s. to ask us this that he lives in south ossetia back in two thousand and nineteen meaning his daughter when it's bombings when he recalls the news from the american media or little resemblance to the reality that the american press was very biased in in the reporting of the whole conflict i was here in the city and my family in my my siblings and friends in america and i spoke with them and there was nothing in the press about george attack itself is that it wasn't until russia responded that it was being televised that russia is attacking georgia my sister

after i told her the truth about what was going on she saw a live t.v. show on fox thirteen they're talking about the war and so she called in she said what you people are off about is not the truth she said my brother is there he called me he told me what what happened what's going on and they basically cut her off. when. we hear in more detail about the difficulties the south assessing people how to even come on their way to a peaceful life. the history of this place runs through the centuries. a paradise for archaeologists. to logical tourists. but one fateful night shots destroyed the harmony of life.

how this republic it's my spine. hoping dreaming and and reaching . two days of i'm great cashiers impulse of north london have seen twenty six police officers injured and some fifty five arrests it began as a peaceful protest of modern justice over the death of a twenty nine year old man who was shot by police last thursday but things turned ugly when demonstrators began attacking police and setting the family it's a cold buildings and it was that. these are the scenes in enfield town center tonight with prior to is essentially taking over the town i'm standing here in enfield retail park behind me you can see legions of police in riot gear they are going round marking up what we're saying is between one hundred and two hundred

rioters essentially people who are looting the shops so you can see around me behind me is a choice are all just that it's carries we've seen young men mainly but some women as well looking out of the shop to literally anything they can carry in their hands from televisions to vacuum cleaners but there's also bike shop air and some of the moves rid off on the bike shops stock up police obviously are coming in to quell this these disturbances that are breaking out but this has been going on since saturday evening here in north london stores he didn't talk to them which is not very far from here where there was a side of a big job to protest the shooting by police so someone called mark duggan three hundred people turned out at the police station to ask questions about how that shooting that fatal shooting had taken place and what's in future what's very much the same the e.c. had tonight lou two young people some people reportedly as young as seven year old

children being arrested or at least in these shops there is an uneasy relationship here in these parts of north london between the people here and the police and this is people say a manifestation of that as. well on these definitely yes you see on the at right now and there's one group that has an extreme solution to his troubles from report dot com. hardline that muslims want to lay down the sharia law in the fresh capital and it's not paying down well with londoners find out more on the pounds to get strict islamists. non-flying high or not mosque their homes another flood time composition. amateur aviators to at least try to reach for the sky and watch their attempts at all to talk to.

saudi arabia has pulled its ambassador from syria adding weight to the international condemnation of president assad's crackdown on protesters more than fifty people were reported killed as violence continued across the country on sunday syrian forces stormed the eastern city of. government protests during the muslim holy month of ramadan heavy shelling little forty dollars of black clouds of smoke was seen rising from buildings in this city more than seven hundred people killed since the uprising began in march international relations expert professor mark almost all syrian politics are riddled with intrigue. were what. is who are. the rock our law it.

was. yours or your proof they are criminals or google or. there are. also. going on behind the rhetoric of our. democracy. i think the real grinder is your very large square also warrants a little. more on the situation in syria and the arab world when we talk to iraq's foreign minister thousand around ten minutes time ok brief analysis of the world news in brief and the u.s. is launching its assassinates helicopter crash in afghanistan that killed thirty american servicemen seven afghan soldiers and us. interpreter the greatest single loss of american life since the beginning of the conflict twenty two of those killed belong to the unit that killed osama bin laden in may investigators say the aircraft was hit while departing from helping us ranging unit that was under fire.

venezuela's president the ways and second round of chemotherapy in cuba hugo chavez had a pelvic tumor removed in june to be exact nature of his cancer has not been disclosed his illness has been costing down so even his fitness to stand for reelection next year but president chavez insists he's responding well to his treatment and plans to go ahead with the campaign. came on the impact that america's credit rating drop is having on the stock market worldwide balance the business with marina. hello and welcome to business here on r.t. now global markets have been under pressure for weeks spot have now reached a selling question though it's been that celebrated by america losing its top tier credit rating major indexes in tokyo hong kong seoul and sydney are now down

between two and four percent it's near a pitchers are also lower ahead of wall street's opening and analysts think that the volatility will remain wholly while strong economic data remains thin on the ground. but we seem to be in the line structural problems are still the us employment is still over nine percent european employment is slower nine percent growth has slowed materially over the past few weeks and actually we still have the overarching problem of the here in sovereign debt crisis being what we need to see a sustained run of positive economic data and a resolution to the european debt crisis before markets really start to calm down. and let's take a look at the markets now precious metals are edging out and as investors look for assets which offer less risk gold is adding almost thirty six dollars per ounce while sell for is gaining close to two dollars and crude prices are lower following the downgrade of the world's largest oil consumer and there's no confidence in the market and investors are concerned over future demand for crude let's take

a look at what's happened in the asian markets well they're in negative territory banks are mostly lower and export hers are also on the pressure on the already is about future demand and all of this is of course the result of what's happened in the glass and europe problems in the market jitters here russia some markets will open in two hours time on friday they close the even the right after the international stock markets fell to their lowest since late twenty ten. piter western formats and says with a downgrade monday is likely to inherit last week's fears this week we're back back in business again and people will be looking at the new news flow of the data flow extremely closely because the markets are extremely volatile. there's no conviction for any sort of strong recovery in my view the situation that were problematic last week are still problematic this week so any improvement in data will support the market but it could also be

a very short term it looks like we could have the dow fall into eleven hundred i think without any problems. the u.s. has managed to stay of all for potentially crippling default but it's not a downgrade on that's long term that some countries are consider reducing their dollar reserves and so are their last risky currencies but only a diet of the burbank argues they're a great way to hedge against the falling oil price there and can that a negative are correlated with the oil price you know if you look at even the history of the last three years every time when oil prices moves now the price of america goes up and rice bursts. and. she gives the world praise for russia this is why russia should have been american that this is a bizarre for. all price will go down and that's all the business for now for stories you can always check out our websites r t dot com slash business but in the

meantime states for the headlines without us.

this is a table from the u.s. embassy in colombo to talk about here an apparent june seventh incident of extrajudicial executions the military ordered to press that on that day to kill nine guerrillas in the best occasion by instructs you including you know and there strongly suggest however that the nine were executed by the army and then dressed in military fatigues. explain how you know this kind of phenomenon where bodies are dressed up as guerrillas and presented as killed in action and this and this idea that you need to produce these actually encouraged paramilitary collaboration this is a cia document central intelligence agency they knew about these activities they knew they were happening they knew about links to paramilitary groups and yet. u.s. aid continued to flow.

just. wealthy british style it's. hard to.

market why not. why don't what's really happening to the global economy which might stronger for a no holds barred look at the global financial headlines. because

. this is all teen shaz continue that sinking feeling asian stocks are down often start us debt ways and college costs them in the ten's trading is expected in europe. three years all to georgia on the east its war machine to try and seize south assess if we mean those who bear the skulls of the fate tearing building that say. in iran producing our rising spreads in north london dolphins' of offices it in trying to contain wall started as a peaceful protest against the fatal police shooting. now is changes sweep through the. trees find it easier to adapt than all the next iraq some foreign minister tells all to how the revolutions in the region have been positive for his country.