movie joins the vigils the home of violence the grief we go to the ground in syria truly the torch was pushed coromandel you can a little closer than that you know it's a duty to go and. run the city the colonel was originally as used to retreat. global market fever u.s. stocks head south in the first trading session after america's credit downgrade with volatile trading elsewhere too thanks to the spreading european debt crisis full reports just ahead tonight. lowkey in the u.k. meantime parts of london turned into a battlefield for a second night as rioters and looters react to a fatal police shooting. war stories three years after georgia's attack on south the city of we talk to those who bear the scars of a conflict about their building their lives.

this is our t. welcome it's monday evening here in moscow man i'm scared you know it's very good to have you with us ok first the big story the u.s. markets join the rest of the global economy no heading south the dow jones is hovering between two and a half and three percent down right now it is the first reaction to the downgrading of america's credit rating over the weekend with the eurozone crisis also speaking of best news report i got the latest for you from new york things are heading south in the first minute of trading there galloping down more than two hundred points within an hour it was down more than three point two percent now that number is going up and down and changing but clearly it indicates a climate of i certainty this climate of uncertainty is interest. here here in the

u.s. it is all over the world and of course this is this comes after the us and peace there of course i downgraded the u.s. credit from aaa to double a friday evening this is the first time in history the country of the world's largest economy was kicked out of this triple a club and to sum it up he says syria of course as the u.s. government needs to get its fiscal house in order following all the drama surrounding the debt deal the credit agency believes that enough has not been done by u.s. lawmakers to to balance its books in addition to all of the political posturing all of the bickering all of the back and forth mog mudslinging hurt. over all confidence in the u.s. economy that is according to his credit agency and so after we saw that the u.s. credit was downgraded from aaa to doubly what else happened we saw the republicans

in the u.s. blame president obama we saw the ministry or the surrogates of the u.s. administration the tea party so the blame game just continued even in the aftermath of the credit of the united states. right now it's still it's a climate of uncertainty the credit agency said that there is a chance that the u.s. is credit rating could be downgraded even further if the u.s. does not get its fiscal house in order and has not stopped this ongoing process of borrowing and spending money put no new york for us reporting on the u.s. side of things well meantime europe's stock markets are also in the red brief after the central bank said it would start to buy. government bonds to restore confidence proves we should move. forward in a situation from brussels. the e.c.b. the european central bank made a wrist sunday announcement to try and reassure people saying that it will boil

entirely and spanish which no one wants to touch at the moment but chancellor merkel of germany spoil the party by saying that she wouldn't increase the e.u. bailout fund suggesting that if it's early and spain collapse if their economy goes under that she germany europe's largest economy won't help instead merkel is piling the pressure on the states for even more painful measures that italy's prime minister silvio berlusconi says he'll bring forward the savage government spending cuts in italy by a year now it's already furious saying bill oppose those measures so there are talk of a national strike in italy at the moment obviously worrying news there a big g. seven g. twenty groups of leading economies have held an emergency conference call to say that they've got the situation under control but investors are voting with their feet here in europe and they say may just don't trust them the fact that's america's in panic after losing its aaa credit rating and it squeaky bum time for

investors at the moment now to turn a bushel in brussels well asian markets closed in the red to fall in a rocky trading session. has more from asia's third largest economy in the. all the markets are down here asia is reacting very strongly i we're hearing strong words from chinese political leaders as well one chinese newspaper actually said the u.s. government has to realize that the good old days when it used to be far away way out of math is is it over so everyone's watching this very closely india is the third largest economy in asia and asia as well actually holds three trillion dollars of the united states china being the number one u.s. debt holder in japan being number two so they have a huge interest in what's going on over in the united states actually some analysts are saying that this point in some ways benefit the asian economy because of the risk aversion that's happening so if investors actually walk 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 happen yet but it's clearly creating a domino effect across the world and asia is going to continue to watch to see what happens. proofreader across the sort of things in new delhi for us i would say was throw the evening will be crossing live to our correspondents on both sides of the london as well as bring you the latest expert opinions on the ongoing crisis you can also keep up to date of course if you're not near your t.v. with a web site as well r t v dot com there you'll find an in-depth look at what's going on as well. because smashed windows and looted shops london is recovering after

a weekend of street riots the unrest followed the fatal shooting of a man by police it has seen at least thirty five police officers injured and hundred sixty people arrested. in the british capital with the latest. obviously it's much less attractive to shots 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 all still hearing reports of pockets of on sort of groups if you ranging around particularly in the areas of brixton in south london and fields and the surrounding area in the north but mostly what's underway at the moment is as a massive cleanup operation after last night's looting and rioting police cars have been smashed up and attacked police themselves. we're hearing reports of petrol bombs having been thrown at police and certainly they were attacking bricks why rice is shops with that far too and now i was in enfield last night where that

the center of the violence started and. you see ranging three to streets smashing and robbing the tree whatever they could attacking shop fronts particularly shop fronts with attractive things inside it started off on saturday nights in talking and what started off as a peaceful protest outside the police station following the fatal shooting by 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 box on that quickly circulated 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 sports 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 one of the highest on youth unemployment figures. and living off benefits has become a way of life in these people some of them are literally hopeless they live on benefits at the moment they seem no time in the future in which they will have a job and be able to better themselves so people do you feel ignored and neglected in these communities. but laura it's not the first time anger spilled out onto the streets of london either log on to r.t. dot com you can watch other public reacted to proposed budget cuts back in march right now on your screen you see looking at latest live pictures from the hackney area of london police keeping a close eye on that tonight looks like there could be some more trouble there we're hearing as well that the u.k. home secretary theresa may. they broke into his summer holiday she's meeting with police. trying to get across the latest that's been happening this all kicked off a couple of days ago because as we've been reporting the skirmish is breaking out

between police and groups of young people in the area there but as you can see youngsters gathering around that car at the moment these are live pictures coming through from the news agencies doesn't look to be any trouble there but obviously a very tense area these pictures from hackney in london tonight we'll bring you up to date if anything does happen there of course. this is r.t. from moscow now three years ago georgia launched an attack on the people of the small republic of south of setia the five day war in which georgia tried to reclaim its old territories claimed hundreds of innocent lives art is really the cochon of it is in the south of set in capital for us a city still struggling to come to terms with the losses. attacks suddenly around midnight and the first try it's happened here as of the russian piers keeping brace now what you can see behind me at all what's left of the base there were around two hundred fifty soldiers here and they forced all knowledge which you could russian troops to iraq russia stand in troops to protect little public citizens many of

which were russian passport holders and many old who 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 with throughout the day when he starts at eleven thirty five pm that's exactly the time when george opened fire over the search hundreds of people again last night to light candles and to pray for those who were killed three years ago in a brief but destructive conflict many canes with a small children people were listening to the rag and they also released white balloons into the sky and the memory of what happened here three years ago there will last it will follow that 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 are still struggling to bring their lives back to normal. 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 you ordered a medical college graduate i heard they were public's capital team ball was under attack from georgia he 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.

kay says sas the only thing that makes her life worth living now is free to eighteen year old daughter they now live together in a newly built house surrounded by families with similar tragic stories. here in this area will leave with specially built to those families who lost their loved ones and we love nothing in that house across the street lives of women who lost two children and to the house opposite lives a man who lost a move 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 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 things that happened that night for its violent fire when you know it was going to be our last night but it was

still carried out peacekeeping mission and tried to be calm. foresman to protect its citizens and prevent more civilian deaths within five days georgian troops had been recount three weeks later russia recognized the satyrs independence. the last three years have changed the face of this thursday i new residential air where new roads are and have been a new strategy and have been built but signs of the conflict remain behind my back are all that's left of the russian. for those who lived through the horrors of the brief but badly conflict in memories valley role. in the question i see reports in france involved south. just before the anniversary dmitri medvedev spoke to us and other media outlets as well about the south acetylene conflict president of says georgia's leader saakashvili should face an international

tribunal for crimes against russia and its nationals his interview in full if you'd like to catch up with even not see the already at r.t. dot com. or write more now on our top story the awfully volatile markets to put it mildly let's bring into the conversation harlan greenies editor and publisher of popular economics talk cohen harlan thanks ever so much whether it's so global markets heading steadily today not a sharp maybe a sun expected is there any glimmer of good news to be gleaned from that what are you reading into it well i'm reading not so much the markets but the actual government statistics are are now are under reporting growth in the united states it's incredible i've been writing about other bloggers have been writing about it in fact the jobless. records that are coming out are understating employment by at least one hundred thousand jobs over the last two months and now we're finding out

the g.d.p. the gross domestic product reports are underreporting also our growth in this country and it's a lot of has to do with watercolor seasonal adjustments and and the what they call growth income treat your gross domestic income here this cruel so you're saying the figures that are being made public are being fudged and yet. it's hard to see how why and how the numbers are wrong i think is statistically errors they're way over compensating for seasonal adjustment factors it's a technical thing something that you know i can't honestly. myself look at but the bottom line is the actual luggers are better than the headlines will tell you are economic growth and there are serious as you can probably know there is a tremendous testing isn't going on in this country because eighty percent the wages and salaries here are not earning as much as they did thirty years ago when you take inflation so what's happened is the headlines are all biased towards the

end the pessimistic side actually growth is is is fairly moderate right now it's i do not see us heading into a second recession or a double dip or whatever you want to call it because of this debt ceiling agreement well it's very good to hear the positive thoughts for you there that you're so confident not everyone is that confident though are they you know they are and the markets of course react after the fact. they're reacting to a loser right now i would say definitely definitely you're going to see better growth job growth in the second half of this year now how this debt ceiling agreement affects things this is what you know robert shilling is a great great economist at yale says is is has to do with animal spirits you know and it has to do with how people feel about the future when you can't predict of it predict it you have to go with the heart of what is the future when you're constantly borrowing more and more money and spending up to the limit and

constantly increasing the limit there is no future is it well see that's the republican lying because the bottom line is really is that you grow yourself out of debt i mean you did it during world war two we did it with roosevelt because we had jobs programs jobs creating programs right now the republicans don't want that they blocked every every attempt we've had to create more jobs they don't want to quit government spending we've lost basically one million government jobs today the last thirteen months according to barrels and those are all government jobs we've lost so that's doing things right now instead of one point three million. over the last three months we've got two point three million if we if we count those government jobs were lost they're coming back all right time to bid against us i hear what you said about the us reasons to be positive you think at least what about what i've read about what's going on there reason is a part of the very as well as a completely different picture well that to do it is a little bit more dire because you have the euro problems you know you have

countries that really shouldn't be in the euro at the moment unfortunately you know recycle and so on and so the rest of the euro has to bail them out alan greenspan suddenly said he was much more worried about europe and he was about the u.s. economy because half of our exports go to europe for her of our corporations or most of their earnings in europe and so your could lead us into a recession much more quickly than the u.s. just very quickly what's your prognosis for the old economy so the next five ten years are going to be seeing more role in the developing nations coming forward. well right now what it is emerging nations that really need to are leaders out of this anyway they have a much lower debt level they have forty forty five percent of g.d.p. debt levels whereas we have our you know eighty percent or so right now yours are eighty percent what it is the s. and p. downgrade was that european countries with the same debt levels they don't consider

to be less than aaa whereas we do we are is because of our political situation so most european countries ours and did it is we are france for instance in holland grima for we've got to leave it there editor and publisher of proper economic stock convert ever so grateful to you being on the program thanks ever so much here are. the other big news coming through from london of course you've been following the news there but there's riots all weekend there's been further trouble in fact the further trouble at the moment we brought you the latest pictures that we're seeing and let's take a look at them now yeah they are coming through live from helicopter there above the. scenes there in hackney it doesn't look to be an awful lot of trouble there earlier on but the news agencies are reporting that new violence has erupted there hackneys in the east london of course skirmishes are reported to have broken out between police and the groups of use there as you say that car we showed you these pictures in a while but these are live shots that carson moved since it doesn't look to be

anything particularly bad going on there at the moment but of course people keeping a close eye on what you can see a cordon of police across the end of the street there just bring you up to date on this if you're just catching up with this news you may recall weekend of being problems. nuff problems to bring the u.k. on the secretary trees of may early from her summer holiday she's meeting with police chiefs about the rioting that the british capital has witnessed across the weekend it all started off with trouble in tottenham as a lot of violence there the beginning of the weekend after. a man was shot by the police more than one hundred people were arrested thirty five officers were injured in two nights of rioting and looting and though it looks tonight judging by the news reports we're getting through just seeing those pictures there there could be trouble saying in east london in the hackney area soon as we get more on that we will of course bring you up to date on it here on r.t.

international from moscow. a document leaked to britain's times newspaper has revealed a western backed blueprint outlining how rebels plan to control libya after one of gadhafi is deposed describes aims to take over the security infrastructure with foreign help various nasm royer research associate at the center of research on globalization told us that nato is goals in libya different to those it presents to the world. be able to the people in the transitional council individuals are talking about regime change change your right mean it should be the. bridge by being good and bridge great to. go the bombing campaign in tripoli actually to get the population doubling i gather the population to overthrow the government so you know it's not bombing tripoli. it's only tripoli want to kill the.

leader here it's very different from what the present bill russell looks much the most the world might not know it knew it deliberately targeted each electricity infrastructure and been trying to create blackouts in tripoli and districts around tripoli and have been using this for cold or terrorist attacks in this city. when i guess the violence in syria where they've been fresh attacks and anti given protesters across the country gunfire and explosions have been reported in the city is a deal al zubrin hunger more than three hundred people have been killed in the past week the bloodiest in the five month uprising against president assad rule bahrain kuwait and saudi arabia have now pulled their ambassadors from syria adding to the international condemnation of the crackdown on protesters international relations expert press amar caliban says syrian politics of riddled with untreated not everything is as a thing of. interest and sort of a state as a concept that there is a role. in. iraq or iran is

a source. with american. yourself your place and they have friends or girl markets are. they like us are. we have also players are our. country going on behind the rhetoric of folks. who are. a real danger means that we're very low on scale of well we're in sort of. twenty four minutes past eight pm here in moscow ok let's go to date now again with the very latest on what's been a very volatile day on the markets around the world. our business correspondent is here with this very volatile day in the business that's right the biggest one day drop since the two thousand and eight crisis in russia going well basically russian markets took an enormous hit the r.t.s. down almost eight percent nice x. five and a half percent or biggest one day fall in three years reverses have that mirrored in the markets around the world trainers have been reacting to the downgrade of the

american debt on friday and concerns over europe's ability to get out of its debt mess as talk to constantin said as of the every head of global markets at troika dialogue is standing there waiting sources thank you very much constantly for being with us so we've seen drops since last wednesday pretty much very dramatic drops how long do you think this turbulence will continue. to grow you know it's over it's only been lost in the meantime so i'm just getting obviously actually done so more almost like a psychological reaction to what happened in the states so i don't think that this is going to last forever so you know no one almost because of people or holidays. you know he's going to be all for for a while but. now you're expecting anything to come out of the meeting tomorrow. well of course something might come out so i can see what is going to be there

there can be any outcome of that site how do you think the market square could still go the russian markets i mean they've gone down no most eight percent on the r.t.s. five and a half on the my sex. ball got so very difficult questions you know because actually i mean that's mostly the reaction we saw russia itself is a is like any other emerging markets people are trying to avoid the most risky also it's basically trying to come back to the risky assets that's a normal reaction so. could be a fly by the ruble lost two percent versus the euro dollar currency bust good so what's your outlook for the russian currency. horrible you mean that's right well rob always a function of the oil always a functional oil everyone knows that so basically of the whole russian economy and the author says that if we have this other good part of it is the function of the oil price we could watch the oil. presence russia is relatively debt free at this point of time compared to europe and the united states do you think it's economies

only hinged on the fate of the oil price then right now. if we speak only about russia so it's almost like the resulting story or. that's right ok incentives and i will thank you so much for your time debbie had a global markets a truck and i love talking to business. thank you all right we have a bit of time let's take a look at how the markets were faring today and bring you those figures we were mentioning and really a massive beating on the russian markets the r.t.s. losing almost eight percent there my six five and a half percent if we look at the main movers or most outstanding performers if you can say that about those figures second look at them rose telecom down more than ten percent in just one session that stock is volatile even without news coming out from the united states so really a big move their sperm bank one of the most liquid stocks on the russian market

news in six point three percent and one of the only gain is pretty much is going to scold point four percent because of an increase in the gold price but look at that and just a second in the u.s. markets are still down barrel jones three percent decline and nasdaq almost four percent bank of america one of the biggest losers of one point it was down more than nine percent in the session. closing picture for the european markets and it's not. rosy after all putting down three point four percent that's more than five percent that's up to declining two and a half on friday and three point four on thursday so really one of the biggest drops in history pretty much on the stock markets and that's all we have time for we will be back and that's going to sign with not they've had lies about something .

the. line. should be soon much brighter than if you normally bounce song from funds to impression in some. news for instance on t.v. dot com.