global market fever stocks yoyo around the world and reactions of the u.s. credit rating cut and the spreading european debt crisis. in the u.k. parts of london turn into a battlefield for a second night as rioters and looters react to a fatal police shooting. and more stories three years after georgia's attack on south sides you know we talk to those from bear the scars of the conflict about how they're rebuilding their.

lives from our studios in central moscow you're watching r g with me and he's now a it's six pm here in the russian capital our top story world markets are struggling through a turbulent session thanks to the downgrade of the u.s. credit rating over the weekend and the ongoing eurozone debt crisis europe stock markets are once again in decline a brief rally after the central bank said it would start to buy up scottish and italian government bonds to restore confidence proved to be short lived argues daniel bushell is following the situation from brussels. it is over black monday all growing markets across europe had still today the e.c.b. the european central bank made a risk announcement to try and reassure people saying that it will boil entirely in the spanish days which no one wants to touch at the moment but of germany's potency

by saying that she wouldn't increase the. fund suggesting that spain collapse if their economy goes on and that she and germany europe's largest economy will. instead mcaleese piling the pressure on the states for even more painful measures that it's in these prime minister silvio berlusconi says hugh bring forward the savage government spending cuts he needs and the boy a year now it's already furious saying bill oppose those measures so they were tools of a national strike and it's really at the moment obviously. the g seven g twenty groups of leading economies have held an emergency conference call to say that they've got the situation on the control but investors are voting with the feeds here in europe and they say they just don't trust them. that's america's in punning off the news and its aaa credit rating and it's squeaky bum time for investors at the moment. well asian markets have closed in the red following a rocky trading session. has more from asians third largest economy india.

all the markets are down here reacting very strongly how we're hearing strong words from chinese political leaders as well one chinese newspaper actually that the u.s. government has to realize that the good old days when it used to borrow way way out of math if that over so everyone is watching this very closely india is the third largest economy in asia and it will actually hold three trillion dollars to the united states china being the number one u.s. that holder in japan being number two. so they have a huge interest in what's going on over in the united states actually donna ellis very thing that is quite in found ways and if the asian economy because of the risk aversion that's happening so if in fact there is actually looked away from u.s. treasury bonds they might actually want to invest more in certain factories in china but obviously we can't predict exactly what's going to. but it's clearly

creating a domino effect across the world and asia is going to continue to watch to see what happens. to discuss more on what's happening with the global markets enjoyed lives over today i did her in chief of trans magazine which is elton's leaving business journal thanks for being with us now the u.s. markets are open they fall in but not of here just yet how do you interpret what we're seeing. is the market falling further and i can refer to what we saw your of this morning where we saw for a brief something like one. even a slight increase in the markets that's when the way after that so overall. difficult to judge. from. the overall. negative sentiment that's where they don't last very pronounced are still there.

do you think that we could see something like. went under in two thousand and eight are the current conditions as serious. well in general i think we are approaching that kind of situation with the exception that of course was a kind of big bang where we were more in a situation where we are on a gradual path down in terms of growth growth in the united states in new york and also with respect. these are handling this crisis euro zone. i wanted to talk about just that europe of course is plagued by its own do you think the eurozone can preserve its integrity in this kind of environment. well the chances that the eurozone can preserve its integrity are still there but then it's getting very urgent. the fundamental issues which are

still not yet treated. even if we take into account what has been agreed to on the twenty first summit the two fundamental issues the lack of political union and the lack of labor market flexibility. are still not being fully looked in the eye and as long as. these are not. taking of these problems and going for real incredible solutions we will have this crisis situation china has already voiced a suggestion to ditch the dollar as the global reserve currency do you think the world can abandon the dollar is not a reality. at the moment it is not a reality. for debt. in order to have an international reserve currency you need to have deep and liquid financial markets and the only country. the only currency that can offer death on the world for the world as

a whole is the u.s. dollar i really understand the chinese frustration with. the value of their dollar holdings but. the throwing away if i may put it that way of the dollar as the international reserve currency is not for today not for tomorrow and not for the short run. over to editor in chief of trans magazine reading business magazine with us on the line thanks for your analysis. party business is keeping a close watch on the world's markets don't need to be standing by how our russian starts responding to volatility well before. the u.s. markets expectedly the dow jones down two hundred points or around one point eight percent the russian markets are continuing to fall stocks red all across the board is down three point nine percent the r.t.s.

five point nine percent i have more of that just around fifteen minutes for you and he said thanks for that meet me at the business desk will be joining you shortly. burned cars mash windows and shops london is recovering after a weekend of street riots followed the fatal shooting of a man by police it was seen at least thirty five police officers injured and one hundred sixty people arrested are jews nor is the place which. obviously it's much less attractive to shops in the daylight and i think that's part of the one of the factors that has brought this situation much more under control this monday morning we are still hearing reports of pockets of sort of creeps if you ranging around particularly in the areas of brixton in south london and fields and then the surrounding area in the north the what's underway at the moment is as a massive cleanup operation after last night's looting and rioting at least cars

have been smashed up and attacked police themselves so we're hearing reports of casualties having been thrown at least and certainly they were attacked by rights is shots with that too. loosely now i was in enfield last night where the center of the violence started and there were gangs of youths ranging through the streets smashing. whatever they could attacking shop fronts particularly shop fronts with attractive things inside it started off. on saturday nights in talk and what started off as a peaceful protest outside the police station following the face of shooting police over a man called mark duggan there about three hundred people holding a silent vigil outside the police station we're hearing reports that what sparked it was a member of the police attacking a seventeen year old girl with a plot so that quickly so places around the crowd and we're hearing that that's what sparked this violence that these areas that we're talking about particularly

tottenham where this all sparked off it's an area of massive social privation there's a lot of. the police is relationship with the community and there has been for many many years there's also a huge amount of unemployment talk that has one of the highest on it the youth unemployment. and so living off benefits has become a way of life in these people some of them are literally how they live on benefits at the moment they see no time in the future in which they will have a job and be able to better themselves say people do you feel ignored and neglected in these communities. there and she continues to keep us informed of all the latest developments in london on twitter you can follow up on archie bunker's or in our latest tweet she's looters mark you less you'll stop and censor is behind barricades and there are rumors suggest oxford street tonight it's news straight from our worldwide constanza r t. three years

ago georgia launched an attack on the people of the small republic of south of here a five day war in which georgia trying to reclaim its own territory has claimed hundreds of innocent lives. and capital cities still struggling to come to terms with its not since. attacked suddenly around midnight and the first tribes have been hand of the russian pairs keeping basis now what you can see behind me are what's left. base there were around two hundred fifty soldiers here and they full all knowledge waiting for the russian troops to iraq russia sent in troops to protect the republic citizens many of which were russian passport holders and me all through were hiding in basements and outbuildings overhand twenty three soldiers were killed and many injured and some we managed to talk to they told us that they want to keep of this building untouched and of the memory of what

happened han meanwhile the morial service began last night and it will be held throughout the day these are when he starts at eleven thirty five pm that's exactly the time going through your open fire over the city hundreds of people came last night to light candles and to pray for those who were killed three years ago in a brief but this truck to conflict many canes with a small children people were listening to the rag room and they also released white balloons into the sky and the memory of what happened here three years ago the wall lost its will following days but hundreds were killed and many injured was mostly destroyed. and as all of the face of this city has changed within these years still the locals are trying to restore their lives and we managed to speak to some of them who are still struggling to bring their lives back to normal. please. i come here almost every day i sit and talk to my son so i know i will lie next to my dear

boy. for the last three years stacey sidney has come to this cemetery in self-assertive where her son is burritt five days in august two thousand and eight split her life into a before and after. cases such as when her son a medical college graduate heard the republic's capital t. involved was under attack from georgia he rushed home to how the injured he died in her arms us they lay trapped for days under the rubble of their apartment block that was in the georgian alterian firing line. k. says 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 round it by families with similar tragic stories. this

area where we leave was specially built for those families who lost loved ones and were left with nothing in that house across the street lives a woman who lost her children and in 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 august two thousand and eight when we 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 god forgives i saw him fall on fire when you know it was going to be our last night but it was still carried out peacekeeping mission and tried to become. law school sound trained force meant to protect its citizens and prevent more civilian deaths within five days georgian troops have been repelled three weeks later russia recognized the century as independence. the last three years have changed the

face of this thursday a new residential air where new roads sharp and have been burst a new g.m. had been built but still signs of the conflict remain this ruins behind my bag of all the good russian impulse for those who lived through the horrors of the brief but dadley conflict and memories are still very raw. which in the question will r.t. reporting from c involves officers here. we're going to discuss further the legacy of out war with. former georgia no expert on politics in the caucasus who is wired with us from washington d.c. now three years are how do you assess the attitudes of the conflict in washington at the beginning russell was portrayed as the aggressor has anything changed in the u.s. capitol. oh yeah and. in fact change oh i think

it's clear for everyone it's not good for you're fired for a show it's sad because really it was the one who or the showing heavy artillery over beer or sleeping c.o.q. out all the seven eleven pm gordon time. as it's proven by either party you should try to fight like them group or united nations so to speak drastically changed my life lots of people in washington d.c. including the current administration the obama administration and i'm afraid that label giorgio was labeled as an aggressor will play a very very bad role into a future in the near future in the country's development in so many ways in terms of relationship between the united states and georgia but in a recent article you say sweetie and former egyptian president hosni mubarak have

many similarities can you elaborate on that for us. well we. are talking about a country that has no opposition were present and the real public alive we have one president how do you want them in. soccer truly treats george as he's on the stump. the only difference to the size of georgia and egypt. really matter how much egypt was. playing a great great deal. for the united states in terms of. the middle east and georgia does not in the region but the fact still the same people prisoners be if you know free media. in georgia and we have autocratic rulers who whose reckless behavior and political decisions already played so many negative role.

for my country. president is very good said in a recent interview to r.t. that cyprus really should face an international criminal court for ordering an attack against civilians do you think that could ever happen. theoretically yes and i i hope the time will come very soon then first of all georgians will demand. after a lot of things will change the name in a very pose the way they're meant he's he's questioning he's the one who started the. genocide against his own people and story and you can separate if you take advantage of his life and express my deepest condolences to work through which those who died from both sides i think this is the case is that this is a tragedy. humankind's experience in the region and somebody needs to take

responsibility and somebody needs to be judged produce behavior and the only cool critical the one who started that war the one who are going to be responsible for destruction said the current georgian ruler sure don't hold the time will come very soon whenever an international court will be starting hearing. against a case against him. the opposition says the country is unable to settle its conflicts with south and all soccer silly is in power do you agree with. absolutely i don't think. georgia has any future. in many ways. politics and economy will go up and in order for of course the territorial integrity to restore a third if it interferes longest starkest really space because getting dangerous.

for our neighbors and as we all know georgia are very peaceful people do not anxious to have any problems to be any of their new neighbors set in mind who would be in charge of children holding some fortunately who drives their car straight through it's a terrible disasters and mores i'm afraid it's more you could come very quickly. stops erratic behavior and i agree with you yes as long as she was praising power georgia spirit to you it will be. ok. but korea former georgian m.p. live with us on the line from washington. now just before the anniversary to meet the needs means of spokes artsy and other media about the south especially in conflicts the president says georgia's leaders like a city should face an international tribunals for crimes against russia and its

nationals you can see that full interview at r.t. . as accurately to britain's times newspaper has revealed a western backed blueprint outlining how rebels plan to control libya after moammar gadhafi is imposed it describes aims to take over the security infrastructure with foreign help marty darrius was a research associate for the center for research on globalization joins us now live from tripoli via broadband thanks for being with us it looks like nato has gone much further than just stopping the bloodshed what do you make of this plan. well the plan confirms things needle i said several months ago the secretary general of nato and said the nato plans to be in at the top of the conflict and this involves reconstruction and security so this actually confirms what they've been planning i'd also like point out that two months ago chad and i was released from

a meeting with the transitional council there is an opposition figures as well as advisors who said that the nato goal in tripoli is to create created an implosion so this is what they're going for must most the world might not know that nato is deliberately targeted the electricity infrastructure in libya and they're trying to create blackouts in tripoli and the districts around tripoli and have been using this for culbert terrorist attacks in the city we're hearing according to this plan that they're also trying to spark and we could ask the mood in tripoli are you hearing or seeing any signs of that there no not at all that the population gathered around moammar gadhafi as the leader of this country it actually did transitional council which even danger of being ousted by the libyan cities and in the internet aca is typically benghazi brooke and donna there has been riots

against they have been movements against them and nato is militarily intervene to stop this because militarily intervene to stop the libyan state it is in the east from overthrowing the yoke of the transitional council which is clearly a nato proxy in libya. western countries are talking about democracy and the right of the libyan people to choose their own leaders in light of the league that we're talking about do you think we'll ever see that kind of rhetoric become a reality for the libyan people well number one it's rhetoric it's never going to be a reality and the people in the transitional council individuals are talking about regime change for several years with nato and american leaders before this happened you can see all of that from the beatings it's different human rights and i mean i didn't think an organization where they talk about government here and dividing the lot of you. it's

a three center centers decentralizing it and. trolls. by the united states and the i also know. that the prime minister of italy has stated that the british prime minister and the french president have set their goals that their bombing campaign in tripoli are actually true that the population doubling i can galvanize a population to overthrow the government so they don't not bombing tripoli i think they're doing it i mean tripoli or the civilians out here which is very different from not different than the rest of the world right mahdi daria's nas i'm going to live from tripoli via broadband thank you very much for your analysis. a recap of our headlines is coming your way after a live business update with. welcome

to business c. first a very quick look at the russian markets and situations getting from bad to worse the nice x. index is now down five point three percent the r.t.s. seven point four so they're deeply in the red at the end of the trading day following losses in asia and europe after the opening of the u.s. markets market watchers say that it's choppy a volatile after last week's american downgrade and the e.c.b. intervention. the situation is clearing nothing short of a panic we have seen somewhat panicky moods in the market last weekend luckily we had forty eight hours today just the s. and p. downgrade over the weekend we seem quite knowledgeable a session this morning expect to be the market open quite sharply down that recuperated right side of the losses and clearly closing still lower and especially this is a bull cross the blue chip universe which is the easiest to get rid of and we have so we have what we observe at the moment in terms of trying to seriously is really seen a hedge fund strange appeared in the blue chip names and along with these situations

trying to pick up some value plays in the second tier universe. it's moved through the markets now and look at the year numbers that we've got at the moment so yes you can see there are obvious down some point four percent my sex life point three percent there was some positive comps rate of intervention from the e.c.b. however we're seeing of the situation the final minutes of trading just twenty minutes left on the clock getting worse and worse that's going to the main move is what's behind this drop will pretty much every share is the heading of down there with a nosedive swerving will point seven percent growth never down four point two percent because oil prices have of course it turned lower look at them in just a second popping the trend followers gold is up one percent so supported by stronger bullion demand we look at gold prices which are up of course as safe haven in just a second european markets are still in of the red the footsie down one point eight

percent dax two point eight percent so that's after the opening health the u.s. markets they expected late last more than two hundred points on the dow jones is now two point seven percent three point seven percent all eyes now closed on the. ben bernanke you statement which is due out on tuesday to find some kind of a parachute and indication of where the market is going to go. what's. he's going to do to react to this and be downgraded bank of america one of the top losers down mines. on the main. precious metals and commodities gold up two point three percent more than there's seven hundred seventeen hundred dollars per ounce of silver not far away thirty nine dollars fifty cents three dollars. crude prices are lower following of the downgrade of the world's largest will consumers no confidence in the market verses are concerned of the future the man

through light sweet and brant are down more than two dollars seventy five cents each. well while the screams of the russian equity traders are flashing with a red jacob morgan stanley says the country's economy will not be hurt and less oil prices below go below a certain threshold the key thing to watch for russia is the oil price if it all price goes below about eighty dollars a barrel then russia is in trouble and if it stays above eighty dollars a barrel russia is for him because the oil is so crucial for both the parent balance of payments and exports and for the budget but. we don't expect a repeat of two thousand and eight when you had a funding crisis in developed markets which hit growth and then hit commodity prices and then hit russia at the moment we still see the support for commodity prices is still there so although we speak spent some volatility some choppiness.

looking ahead it looks like russia is reasonably well supported with oil at around one hundred dollars a barrel at the moment kind of see the headlines with anything stay with us. hungry for the full story we've got it first hand the biggest issues get the human voice face to face with the news makers on our teeth. if. russia would be soon which crisis if you found sound from funniest impressions. he's fun stuff on t.v. don't.