the moviegoer to join the visuals the violence the grief we go to the ground in period. the torch was pushed coromandel you can away with a chill the closeness of which i sit down to go and. write as the colonel was a child as a school retreat. global market fever u.s. stocks for the first trading session after of eric his credit downgrade. is no fun to be an investor anymore i'm an investor faces must be read like the markets down everywhere a volatile day of trading elsewhere too as well thanks to the spreading european debt crisis we're reporting fully on that just ahead also tonight. anneke in the u.k. another round of rioting in london after a week early which saw angry use of looters respond violently to a fatal police shooting. and war stories three years after georgia's attack on

south of setia we talk to those who bear the scars of a conflict to this day while they're still trying to rebuild them by. this is r t welcome it's ten pm this monday evening here in moscow kevin owen and first the us markets and join the rest of the global economy making losses the dow jones is hovering between two and a half and three percent it's the first reaction to the downgrading of america's credit rating over the weekend and the eurozone debt crisis is also speaking investors but is more important i was got that sort of a story from new york things are heading south in the first minute of trading and that our paying down more than two hundred points for our. within three point two

percent now that number is going up and down and changing but clearly it indicates a climate of uncertainty and this climate of uncertainty isn't just here here in the u.s. but it is all over the world and of course this is this comes after the us and eastern horse downgraded the u.s. credit from aaa to friday evening this is the first time in history the country of the rules or just economy was kicked out of this triple a clock 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 has not been done by u.s. lawmakers to balance its books in addition to the all of the political posturing all of the bickering all of the in for mudslinging. the overall

confidence in the u.s. economy that is according to this 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 blame the tea party so the blame game just continued even in the aftermath of the credit of the united states being downgraded right now and still it's a climate of uncertainty the credit agency said that there is a chance that the u.s. 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. almost for. work or so on. we cross to the business this fall the latest figures. now looking at europe's stock markets they're also in the red the foot sea

in london closing down over three percent a brief rally after the european central bank said it would start to buy up spanish and italian government bonds to restore confidence only prove to be short lived i think there you bushels been following the situation in europe from brussels greece is in big trouble it's fall into a full tin year low because if the euro falls as increasing numbers here believe it could do greece will be first in the firing line if it is no fun to be an investor anymore i mean investor faces must be read like the markets they're down everywhere and what's being dubbed black monday spain's become the latest states pledge that it will change that it will reform it will get its house in order is that it will slash billions more of public spending but that doesn't help the mood of the european central bank i did it will buy up spanish and italian debt something that no one wants to buy at the moment that hasn't held either now the g seven g twenty group of leading economies say that they're working together to control the

situation but investors are voting with their feet that's why markets are down investors just don't believe the politicians. just bring you up to date on that but if you are getting through jones that almost four percent three point seven six percent in fact that's the latest for the moment spring in a market petra probably knows in london after the markets market from financial wealth management as you are a volatile day on the market but no real freefall exactly what he thinks was going to bring more turbulence more trouble. well you say no no free fall but i've been investing clients' money for over thirty years and it's quite rare to have a period like we've had over the last week it has been a severe back three. now when everybody is on one side of the trade you tend to get sharp pullback so things may carry on going south for the next couple of days but

then there's likely to be perhaps a bit of a pullback but. over the next sort of seeks twelve eighteen months and my view is still bearish we're we're short and we've been short for a long time on on equities and there's a lot of issues that need to be sorted out and i can't see how they're going to be sorted out in the near and it's very difficult to see where the growth is going to come from moving forward so in the absence of of actually any positives. the trend may well continue to be down for for some time so does the world need to break away from its dependence on the u.s. economy is that the way forward is that the goal is that the great palace here. will of course of course. the next biggest economy now that. they have to. restructure their economy they have to get away from export based economy to more internal the amount they can do that by creating some degree of welfare state so

therefore the chinese don't need to save so much money you can spend more but it's very difficult to see how that can happen in the near term that's a transition that may well take ten to twenty years for that to happen there simply isn't the internal demand in the emerging markets to take up the slack from you know very sluggish growth in in the developed world market what i look at is the dollar's reputation significant knocking especially as the reserve currency with china is really suggested a new reserve currency is that idea feasible though. well i be calling for the dollar to capitulate for a number of years and i don't think we're right yet i think that the dollar will eventually move away as the reserve currency has to happen and of course. a new a new set up will happen before the problem is that when when the pound lost the

reserve status and it moved toward the toward the dollar that was cemented in bretton woods in nineteen forty eight. it was a natural successor to the pound and the problem that we have our present is there is no. no currency there's a natural successor to the dollar and there's talk about using the i.m.f. as the our system as potentially a global currency but it's very difficult to see how everybody can sit around the table with all their different interests and the politics that there are and actually come up with a solution on a sort of g. twenty level and create a new reserve currency and even if you do do that the transition may well be extremely painful unless it's managed in a very appropriate way marco prefer to talk about the u.s.o. tours where the dollar as a reserve currency let's focus on europe and the euro now europe facing its debt contagion after the bailout you think the eurozone will survive this. not in its

current form and i've been saying that for some time it can't survive in its current form the way that most countries operate is that for example in the in england the southeast which is the richest part of the u.k. subsidizes the poorer parts like the northeast of england like south wales unless the germans are prepared to write an open check to the pig countries and to anybody that has problems moving forward to carry on subsidising it simply isn't isn't going to happen and it's unsustainable so you can't have sustainable monetary union without fist and and political union which hasn't happened the only other solution is a break up of the euro which which is probably looking more likely marco polo financial advisor and wealth management in london always good to have your thoughts on the program expert as you are things going with us right now art is business desk

keeping a close watch of course on the world markets to be produced here we'll get the full bulletin from you in about ten fifteen minutes but just briefly is the nosedive on the markets getting worse some of it is kevin right now the dow jones is down three point eight percent i just saw it go below eleven thousand points that's a psychological fresh hold over there we're actually seeing record lows pretty much all over the short russian market fell to a record low in three years i mean a record drop in three years one day a drop of seven point eight percent on the arts yes that's a one year low gold is at an all time high i'll tell you all about that in just about thanks to me you have you seen you very shortly. know to our other breaking news this hour another round of riots in london tonight there's been trouble all weekend and there's more right now a groups of user clashing with police in hackney in the northeast of the city and also more recently in lewisham in the south it follows an arrest as i mentioned over the weekend for a man was shot dead by police well we take

a look at his latest lived. pictures coming through let's cross to our tease i have a bennett he's in the british capital for us either either but our earlier tonight when i spoke to you we were witnessing disturbance in northeast london in hackney now reports tonight of trouble too in south london in lewisham what do you got for us. here riots are continuing to spread even as late as this evening and this is now the third day in a row that that's been happening across the city and each time it's a new location that's affected the latest as i just said is lewisham which is in the south of the city really the other end of london to tottenham which was where the initial arrest took place on saturday night and what pictures we've seen there is of two vehicles that are just being set on set alight riot police have been deployed there in lucian in south london we don't know yet we don't have any figures on a number of arrests if any that have been made there but the worst action the most severe and rest that took place today was in hackney in the north east of london

again another area that was previously unaffected until until today what was happening there was groups of people swarming the main high streets there smashing windows ransacking shops in some cases stealing and looting merchandise things like t. shirts trainers in other cases just laying their hands on whatever they could to hurl at the police as missiles chairs wooden beams and planks of lorries even police riot police in the area trying to control the situation by forming a human line across the street and charging at the right is the fun of them down one area but the problem they're facing is that once they control one street another pocket of violence erupts in another street and reports around this evening saying that the writers are actually coronating their efforts using blackberry instant messaging via mobile phones now that differs to twitter where twitter is public. this is private messaging so groups can coordinate their movements

privately and that's their head of the police ok over would just give us more information through spring obviously taken extremely seriously where in the london's mayor boris johnson's cut short his summer holiday to return to the capital as more than two hundred have been arrested and thirty five officers injured are also hearing as well earlier on today the. secretaries of may return early from a holiday to me acting police commissioner to goodwin and other senior officers to try and stem what's going on here the catalyst for it was the shooting at the cafe as for what happened in the beginning of the weekend anyway with the shooting of this twenty nine year old man is that the catalyst for everything else that's going on. well no that's not really the case as that's what's been said by police as he said saturday night the campus was the fatal shooting by police of mark duggan earlier in the week twenty nine year old man. what was supposed to be a peaceful process on the police station there erupted into violence widespread

looting and. scenes that looked like a war zone really building set on fire there's a widespread looting police officers injured what's happened since then though is pockets of violence of running up elsewhere across the city in various parts last i further north in enfield also in the south london in brixton today also in hackney in various parts throughout the city and what's been suggested by the police chiefs is that this is copycat violence that's the phrase they're using suggesting people just jumping on the bandwagon really using this excuse to also seen other people getting hold of fifteen inch screen t.v.'s and if they're suggesting that they will this one and a piece of the action as well they're calling it copycat violence by opportunist criminals. on line from it if you want to bring the latest pictures we're getting through now from. the police or a. news agency helicopters up there it's very wide shots they're showing at the

moment i was hoping you might be able to focus in on some of the streets there where we've seen a truck. car earlier on just in the distance there the shots were saying full screen now you can see some smoke rising on the horizon the shots from the area of london which is south london as to say we don't know an awful lot more about that at the moment these pictures are a little bit sketchy the pictures that we saw earlier on from there are corpses when we're taking a look at what was happening in hackney showed police over that one point charge across a supermarket car park there a lot of police on the street so here. up to a two hundred officers were there say these are the best pictures we've got i'm afraid the moment they are live coming through you can see what looks like smoke on the horizon there is a burning car we definitely saw that earlier on so if we get more details we'll of course bring you up to date on this developing news story where there is once again

tonight developing trouble on the streets of london first of all going to the weekend it was in tottenham then it moved northeast earlier today as i've just been mentioning and then in the last few hours we know seeing trouble on the streets as well in south london in the louis so as we get more we will bring you up to date. now to follow what may be forcing rises out of the streets for the third night running at let's catch up with nathan joined he's from a young person's charity youth in like limited mr john thanks ever so much for being on r.t. international it's very much appreciate you taking the time and there are these riots really because of the police shooting i was just talking about to our correspondent ivan just now or was not just a trigger for wider public discontent to turn violent. these riots are really coming off the back of years of communities being ignored communities being

handled incorrectly by the police because of the market the market to go and was for me a tipping point it was you know the icing on the cake and we've seen so many different examples like this over the last few months over the last few years and i think people have had enough now to take to the streets but over the last few days what we've seen is a lot of copycat criminals coming forward and just trying to make use of this opportunity to get free goods from shops let me get this straight you aren't condoning any of this violent action at all you. but you can't condone this you know ordinary people's lives are being turned upside down homes are being lost i don't condone this in any way the one thing i do condone is the fact that young people are making a stand but they're doing it in a wrong way and this is actually doing more damage to the work to organizations that mine is done to champion young people is doing more damage to their communities is doing more damage to their their futures but what they're pretty

much trying to say in my eyes. you can't ignore us any longer there's issues that need to be addressed for godless of what's going on in the financial markets or in inferred world countries you need to focus on us ok what do you think the police seem at this point anyway so are they able to try and stem what's going on what we're witnessing what we witnessed over the weekend. yeah the police wasn't prepared for this whatsoever. you know when. the stop was just started to come back on our streets they were told there be a backlash and nothing happened and this similar incidents of happened where other people were being murdered in suspicious circumstances nothing happened and i think they just expected this to be another time where nothing was going to happen but unfortunately something has happened and it's spreading for our capital and it's going to continue to spread because there's a lot of hatred there's a lot of tension that's been building up that need to come out it's coming out of

one way right now but we have to do this and we have to learn from it and make sure that something like this doesn't happen again are you surprised at the level of coordination that there appears to be in the. unfairly surprise i've heard of occasions for instance in tottenham where there's issues of gangs have been issued guns for many years and they've said look tonight let's put aside our differences let's join together for. a loop and i'm amazed by that as a shame they didn't do that under different circumstances so should we just played a massive part in this people leaving messages saying he wants a free telly at least really driving and fueling the fire on the file and the rioting and i think we've got your take on i'd just like to really ask you know because we're of course based over here in moscow it's difficult to get a feel that we're seeing the pictures difficult to get a feeling of what it what it's really like to be living in london right now what's the average londoner on the street saying about this we take it what you're saying

that people have got their nose about what's happening they're very concerned about it but i'm thinking about the people whose cars are being burned out whose businesses are being looted what's the reaction you get from other londoners it's a sad it's a sad time for i live in lucia myself and i'm watching this for me to go out tonight with my family with counts of that because frankly we don't feel safe livelihoods have been lost property has been stolen damage you know this is really a dark time for for london and i think it's more than the buildings are being charged but i think i'll miss the london spirit of london pride has also been charged and frankly i see as an embarrassment does a capital like london and in forty lympics can't get it to go over here of course is coming so close in some of these right so close to that you really privilege in the stadium as well well things have a smallish little program nathan john chief executive officer of youth and light

limited take care. well obviously with r.t. for the very latest developments from the british capital artie's i have a bennett correspondent there will be updating you on the london riots every these are the latest live pictures coming through. yet to be clarified where these are we're saying london on the screen or maybe the production gallery where these are actually from lewisham all whether they're from the hackney well anyway they are the latest shots we're not totally clear ourselves you can see a vehicle a building on fire there very disturbing scenes through parts of london tonight in the northeast and the south. three years ago georgia launched an attack on the people of the south 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 that is within a question of or is in the south of set in capital a city still struggling to come to terms with its losses. attacks suddenly around

midnight and a first try it's happened here the russian piss keeping basis 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 all know it's waiting for the russian troops to iraq russia stunt in troops to protect little public citizens many of which were russian passport holders and we also were hiding in basements and blown out buildings overhand twenty three soldiers were killed and many injured and some we managed to talk to they told us that they want to keep this building untouched and of the memory of what happened here meanwhile the morial service began last night and it will be held with throughout the day these three men he started at eleven thirty five pm that's exactly the time when torture opened fire over the such a hundred people again last night to light candles and to pray for those who were killed three years ago in of grief but this truck to conflict many came 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 three years ago there will last it will follow days that hundreds were killed and many injured it was mostly destroyed after bolling's and as all of the face of the 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 . 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 stacy sydney has come to this cemetery and self-assertive where her son is great five days in august two thousand and eight split her life into a before and after. as when her sound you ordered

a medical college graduate i heard they were public's capital teen vall was under attack from georgia he rushed home to help the injured he died in her arms as they lay trapped for days on to the rubble of their apartment block that was in the georgian alterian is firing line. kay says as 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 surrounded by families was similar tragic stories. here in this area will leave with specially built for those families who lost loved ones and we left with nothing in that house across the street it's a good woman who lost two children and to the house opposite lives a man who was a move his wife and his child. all these people are of their terms of george's military aggression in august two thousand and eight when you try to retake control

of the town breakaway republic of south ossetia a russian peacekeeping mission in the region also came under fire nursed my of his dive i was on duty with them and witnessed average thing that happened that night for its. own fire when you know it was going to be our last night it was still carried out peacekeeping mission and tried to be calm. school soundtrack enforcement to protect its citizens and prevent more civilian deaths within five days georgian troops had been repelled three weeks later russia recognized two years independence. the last three years have changed the face of this thirty a new residential air where new roads sharp and have been burst a new strategy and have been built but still signs of the conflict remain behind my back are all that's left a good russian impulse for those who lived through the horrors of the brief the

deadly conflict the memories are still there we roll. my cynical tional i see reporting france involved south or south yes. who are far more about the story got war on the station of the south the south in conflict than the problems because of people's lives in our little documentary coming up in just a few minutes time tonight in our now that sir just after twenty six minutes past. time was culture within reach from everyone goes back with details very tough trading on the world market. that's right given just looking at the latest figures on the dow down five hundred fifty points almost five percent we'll have more details in just a second russian markets took an enormous beating on monday the r.t.s. was down almost eight percent of my sixty five and a half this is the biggest one day fall in three years the reverses have been murdered in markets around the world traders have been reacting to the downgrade of

american that on friday and concerns over europe's ability to get out of its debt mess the situation is doing 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 volatile session this morning expectedly the market opened quite sharply down then recuperated parts part of the losses and those still lower and especially this visible cross the blue chip universe which is the easiest to get rid of and what we observe we have what they observe at the moment different kinds of city is we've seen a hedge funds trying to get in the budget meetings and a lot of these situations trying to pick up some value please in the second tier universe. or a secular good more detail what was moving the russian markets telecom down more than ten percent in just one day the most liquid stocks six point three percent one

of the few stocks which was very unique was his gold point four percent one highball crisis in the u.s. as i said just mentioned earlier there are jones off almost five percent or five hundred points under fifty points to be exact president obama has expressed hope credit downgrade that we've seen from samples will give urgency to solving the problems in the country. because of the closing picture for europe not rosy over the. four percent backs more than five percent of the sky just pledge from the european central bank to buy back solver in their bonds. and gold is setting a new record highs every minute pretty much seven hundred nineteen dollars forty cents prochoice silver is also off almost three percent. and finally oil prices are seeing their lowest level in more than a year eighty three dollars for light suites one hundred five for grant's no confidence in the markets as the world's largest oil consumer sees its debt

downgrade in the future to monotheism the question. headlines are next something. for the full story we've got it from. the biggest issues debt the human voice face to face with the news makers on our team.