in the movie the joint be the children's the on the villains the great religion the grand imperial. the george weston to school until you can a little chill closure return it's a duty to go and. run the city the colonel was neutral as a school retreat. as slides through the european stocks which. hold steady for now but it's a downward spiral for asia in the wake of things to the u.s. credit rating which option. three is on to george on the shins rule machine to try and seize sounds assess here we need those who bear the scars of the complex tearing how they were building their lives. from confusing and risings president dozens of offices are trying. trying to contain what started as a peaceful protest against the faithful.

a very warm welcome to you this is live from moscow europe's stock markets a fluctuating right now after dropping on opening in the past hour also it follows last week's round listeners on the back of america getting its credit rating cost as well as debt that we just refuses to hear bushell is in brussels for us daniel everyone's been expecting a manic monday but europe's markets haven't quite hit the panic why is that. when markets all mixed of the european central bank said that they were boiled spanish visitors have been fleeing spain or the fear is the that is out of control the g seven g twenty group of leading economies also said they would call. a global

response to this crisis but asian markets. a sea of red after south korea's finance minister said there was quote no cause for concern for the world economy the south korean index was temporarily closed it was shut down of the shares there collapsed in the wake of those statements as investors feel politicians don't get just how serious the situation is the moment of the oil of the storm continues to be europe a key concern is italy where prime minister silvio berlusconi promised to speed up spending cuts government spending cuts in the country but the expose thing for more needs to be gone for europe to recover from this crisis. the italian government one point it trillion euros now that means nothing to anybody but that is bigger than the total government debt arland portugal and greece put together before the end of this year it will either need 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 . italy is huge it is just too big to manage through in any way be rescued in the way that all their economies have so far been revealed by the e.u. . the u.s. is in a crisis of its own of through its credit rating was downgraded on friday morning from our correspondent very important. early comedian george carlin always spoke frankly about his nation the only truly lasting american value that's left by in big buying things 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 us defense and security spam. has remained untouchable soaking up seven

hundred five billion dollars were twenty percent of federal funds every year since two thousand and one more than one point two trillion dollars have been spent on the words 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 we questioning or questioning a downsizing of the several hundred foreign military bases we have here in 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 this 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 spend you have to spend a lot of money to promote it you have to have a lot of people working on various aspects of economic 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 leave 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 course stop this fire departments to close more than forty million americans on food stamps may also up. except 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 is probably a first priority but defense secretary leon panetta is looking further afield for his priorities we are a 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 chain 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 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. there. because the owners of this country know the truth it's called the american dream because you have to be asleep to believe it marina courtney artsy new york. asian stocks tumbled. what is a string of torrid trading around the play. to the region's largest economy india with. the asian markets are tumbling today which is what many analysts predicted on friday when this credit downgrade rating was released 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 ratings downgrade so. 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 in united states debt so everyone's watching very closely here to see what's happening in china is the number one holder in the u.s. dad japan 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 deal with this immediately i don't obviously there has 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 cutting asian currencies into that of basket currencies that would be used in substitute for the american dollar the cheese have been 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 deal with this crisis immediately so asian markets are definitely being impacted greatly by what's happening in the

united states. well they do nations which hold the lion's share of american the debts on the banks. as the chairman of the hong kong based credit ratings agency has been telling all see. what would be. a country in a true. they're going to buy the boys or you should come for us from my person who is. giving such a. but you know all of us are coming. coming coming years so. many cooperation and. economy long term and short term. the world markets close watch the marine is there for us now marino how the russian

stocks responding to all this well russian stock markets are actually limits and losses after opening deep in the red the latest news from europe is offsetting the damage brought on by the states and we'll have more about that in our business bulletin in about ten minutes from now. we will of course to check in for business in full in just a few minutes from now. ok three years ago the people of the small republic of south came under artillery attack by neighboring georgia the brief war in which to see trying to reclaim its territories took hundreds of lives artie's new record numbers in the south the city capital which still bears many. georgette attacked suddenly in around midnight and the first strikes happen hand of the russian peacekeeping base now which you can see behind me are ruins of what's left of that space there where around two hundred fifty soldiers over here and they fought all night waiting for the russian troops are rife russia's sons interest to protect the

republic citizens many of which were russian passport holders and many were also hiding in basements and going to buildings all the hair twenty three soldiers were killed and many more injured and as we spoke to some of them they told us that they want to keep this building untouched in memory of what's happened here meanwhile memorial services began last night and it will be held throughout the day the ceremony started eleven thirty five pm that's exactly the time when george opened fire over the city hundreds to came out the central square to light candles and pray for those who died at three years ago in that brief but destructive conflict many came with the small children alfre one was holding candles they were listening to the rock and also they released white bellew's into the sky in memory of those who were killed the war lasted for five days but hundreds were killed and many more injured while was mostly destroyed after the bombings but of the whole of the face

of the city has changed within these years still locals such trying to restore their lives and we managed to speak to some of them or still struggling to bring their lives back to normal. i come here almost every day i sit and talk to my son and i will lie next to my dear boy. for the last three years nick has come to the cemetery in southeast asia where her son is brute five days unorganised two thousand and eight split her life into a before and after. when her son a medical college graduate heard the republic's capital t. involved was under attack from join. 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 altieri is 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 ranjit by families was similar tragic stories. this area where we leave were specially built for those families who lost their loved ones and were left with nothing in that house across the street lives of women who lost their children and to the house opposite the man who lost both his wife and his child. all these people are of the terms 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. i saw him go on fire when you know it was going to be our last line but it was

still carried out peacekeeping mission and tried to be calm. cool soundtrack enforcement to protect its citizens and prevent more civilian dusts within five days georgian troops had been repelled three weeks later russia recognized south and said he has independence. the last three years perhaps changed the face of this thirty a new residential area where new roads and have been burst and have been built. but. the conflict remains this behind my back are all that's left of the russian peacekeeping post. who lived through the horrors of the brief but sadly conflict the memories are still very real. much in the push well i see reporting from scene volatile self a sense you. want to mess down says the u.s. is that he lives in the south that back in two thousand and eight he made a not. for these bombings but he recalls the news from the american media 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 my my siblings and friends in america and i spoke with them and there was nothing in the press about the georgia 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 talking about is not the truth she said my brother is there he called me he told me what what happened with going on and they basically cut her off. we here in more detail about the difficulties

the south thirteen people had to overcome on their way to a peaceful life. the history of this place runs through the centuries. a paradise for archeologists zoo ologists and ecological tourists. shops destroyed by. how this republic got its life by. holding dreaming and retreat. to days of angry clashes in parts of north london have seen twenty six police officers injured on

a one hundred and sixty arrests small part of our last remain active according to scotland yard it began as a peaceful protest a modern justice from attack up a twenty nine year old man who was shot by police last thursday but things turned al green when demonstrators began attacking police and says he finds a cause and belfast the violence and spread to a neighboring district artes or m. it was back. to the scenes in enfield town he said it's a night with clients 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 okaying rounds mopping up what we're saying is between one hundred and two hundred rioters essentially people who are looting the subsidy you can see around me behind me is the toys r us just that it's carries me seems a young man that may need it some women as well looking out of the shops would literally anything they can carry in their hands from television to vacuum cleaners

but it's also like so parents some of the moves rid off the bike so stark. ok lisa obviously are coming in to well with this these disturbances that are breaking out but this has been going on since saturday evening north london stores didn't talk to them which is not very far from here where there was a side of a big show to protest the shooting by police still someone called mark duggan three hundred people turned out at the police station to ask questions about how that shooting out fatal shooting taking place i was in future was very much the scene easy to tonight lou to see young people some people reportedly as young as seven year old children being arrested or at least in these shots that is an easy relationship to get these types of milk between the people the police in this case people say they might have been state should know that it's. only had pride

now and there's one group that has an extreme solutions to its troubles as we reported thomas he took a couple hard liners to the swans and laid down the sharia law or the person's capital and it's not all going down well with london as find out more on their plans to get street submissives. than flying high. mostly hold another tug competition on a chair aviators to at least try to reach for the sky watch their attempt at asking dot com. 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 killed respondants continue to cross the country on sunday with

syrian forces stormed peace in. to crush and see government protests during the midst of holy month of ramadan heavy shelling is reported on the black clouds of smoke were seen rising from buildings in the city more than seventeen hundred people have been killed since the uprisings began in march when sasha relations professor mark on the syrian policies on brutal truth. troopers. were gone. along. with. your. americans there were. three her. who. were who were. going girl is. there also

a war in syria. on our team or the situation in syria and the arab world when we talked to iraq's foreign minister about fifteen minutes before that a briefing because of other world news in brief and the u.s. launched an investigation into something a helicopter crash in afghanistan killed thirty american servicemen seven afghan soldiers and a civilian tell yourself is the greatest single loss of american license the beginning of the conflict twenty two of those who died belong to the units that kills some of enlargement may the best way to say the aircraft was hit nor the parting from helping the u.s. rangy unit that was under fire. venezuela's president from wasting a second round of chemotherapy in cuba hugo chavez had a poll victory in a relieved in june but the exact nature of his cancer has not been disclosed his illness has been casting doubt save his fitness to stand for reelection next year

for president chavez and says he's responding well to. it's treatment plans to go ahead with the campaign. on the very powerful storm in decades heading to the eastern china talkable storm high winds and torrential rain causing huge disruption over the weekend all than three hundred thousand people have been evacuated to safety around shanghai thousands of homes were left without power in south korea as the storm power lines and trees it's expected to reach crest of parts of north korea on monday. or more on the impact that america's credit rating drop is having on stock markets worldwide in the business now with marina. hello and welcome to business here on r.t. global markets have been on the pressure for weeks but have now reached the selling

crescendo asian stock markets little to the right with exchanges in tokyo and hong kong. two and four percent well russia markets have also been the negative towards harry and let's cross live now to our. who's up the r.t.f. file it should have quarters. now what can you tell us about the russian markets what's the sense in it right now. but we certainly seen a lot of volatility this morning that of course is expected of the standard and poor's downgraded the u.s. for that one not sure it's aaa rating a for the weekend now what we've seen is that russia is playing in negative territory this morning they are actually managing to clay's begats slightly the morning started with r.t.s. and my takes down about three percent currently trading down about two percent my takes about one and a half percent but they've been given a piece by what's been happening in the european markets we still hold a the fifty also a pinned in the red they've then now trading just in the plaque. to say currently

trading in the reds that's really meant that russia hasn't suffered such extreme losses that we've seen in asia that's given them a bit of a base but as we increase this is amongst investors about what's happening with the economic situation in the us in the year you say we first seen the european central bank step here and they said they'll be willing to prop up its sleeve in spades if that's necessary will the market take heed or will that come some of the fears that they have it's very unclear yet just how this is going to play out with the russian deputy finance minister say that russia doesn't intend to change its investment policy over the u.s. down go. a good thing that's really a major hit to the u.s. is that reputation a lot of people saying that downgrade really was a wakeup call for the u.s. trading days on today remains being exactly how it is going to be playing out there

and thankfully we could be thing this continued volatility in the global markets and here in russia. and of course we'll have all the latest information on the stock markets in just a second thank you very much there was artie's surfer recording from the headquarters of the r.t.s. stock exchange thank you. so the downgrade may undermine the dollar's position as a global reserve currency some countries are considering reducing their reserves into other less risky currencies boxing you die of arms has a great chance against a falling all price. ignorant can get a number through it correlated with the sneer if you couldn't even the history of the last three years sprain every time one would praise lose the price of american did rice. and the good hit she gives that will create is for the duration this is

why. he had been american. and even gays price would go down. then let's take a look at the markets now gold has set a fresh record today as investors turn to assets which offer less risk gold is adding over thirty dollars per ounce while silver is gaining a profit dollar there must look a look at what's happening with crude prices they are at lower following the downgrade of the world's largest oil consumer there's no confidence in the market and investors are concerned over future the manful crude both light sweet and bright are losing over two dollars. and in the asian markets have closed the negative territory ranks were mostly lower and exporters were also on the pressure amid worries about future demand all of this was of course the result of what's been happening in the u.s. and europe prompting market jitters. european markets are breaking the negative

sides move the footsie is slightly a wall that's is losing almost by three site there and about so after a pledge from the european central bank surprise saw from bones which helped boost the investor confidence let's take a look at what's happening here russia markets are limits and losses after opening people in their ads as our correspondents are for earth reported earlier there the arts yes it is losing so and a half percent of all the my sites is under almost super sides. and you know what's known from absence as with a downgrade monday isn't harris in last week's fears. this week we're back in business again and people will be looking at the news for the day to fill its stream closely because the markets are extremely volatile and there's no conviction for any sort of strong recovery in my view the situation that were problematic last week or so problematic this week so any improvement in data will you know support

the market but it could also be a very short term it looks like we're going to have. our fall into eleven hundred i think without any problems. and that's all the business is for the south more stories you can always talk about it's artsy dot com business the meantime states and other headlines with.

more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. trying to look for a shelter on the day.