our window smashed and shops ransacked are the scenes devastating the streets police officers in their thousands are deployed to tackle wallace that's now spreading to other cities the prime minister has flown back from his family holiday and is in emergency talks to decide how to deal with the crisis fourteen people have been injured the police making over four hundred and fifty right. emergency services have been pushed beyond their limits with a longer fire brigade saying it faced its busiest line in recent history barges more and it has been keeping a close eye on the situation. london's burning rioters and police take over the capital for a third night as target yet more areas of london in a spiraling cycle of violence on monday night the violent shoot a few signs of abating in fact it spread further around the city say here in east london in hackney where writers set fire to cars and tried to break into more shops meanwhile terrified residents of london could do nothing but call the police to

seal off streets and treat whole areas as crime scenes with local communities trying to come to terms with the wave of looting and go thing north east and south london in enfield wages looted shops making off with whatever they could carry in nearby edmonton a man with a bit south in brixton riots threw rocks at police and didn't know where it all began the high street is a burned out shell the police the job center all the banks everything that's happening the recession you know there's a loss anger about that no jobs nothing for the youths to do so yes i have also lost ration america you know and it makes you sad that it's the it's the poor people that's suffering it was sparked by the fatal shooting by police of this man mark duggan tottenham once on says about why and how he. he was killed but his

shooting was just the spark in an exceptionally dry tinder box and other london boroughs have long been simmering with resentment towards the police towards social injustice and towards unemployment this is a community which is fantastic precious for how levels of unemployment then are losing their lives and services youth clubs have been closed there is never an excuse for violence the community was a tinderbox. warrants and concerns and complaints about the death of them were the spark which has a far tottenham has one of the highest unemployment rates in london particularly amongst the young black people are far more likely to be stopped and searched by police than whites and together with hackney brixton walthamstow and lewisham which also saw violence has become a victim of what prime minister david cameron is now calling failed multiculturalism this. powers some of the groups.

these groups. you know the. sports. on the races. but what do you think. something should be done unless these gangs of youths tire of the violence there doesn't seem to be a real reason why this looting should stop it's unlikely the perpetrators have jobs to go to and school's out for the summer london residents fear more unrest on the streets in the coming days they lose it on making a political point anyone in these communities supports them but many are saying that there actually is a political point that social integration in parts of the country is deplorable social mobility is nil and the relationship with the police it is bad as it's been doing is. and with the cuts in government spending looming over the next few years

the situation is very unlikely to get any better nor at its party back in the east . let's cross live now to london to get the latest details of what's happening in the british capital ivor bennett joins us live or three days of violence and destruction here are there any signs of these riots winding down i mean is there a sense that police are unable to cope with the situation. or things about as we got a lot calmer this morning as come a sense of safety but there's no guarantee things won't flare up again tonight like they have done the last three nights because last night certainly in several areas of london the police simply didn't have any control whatsoever the word to describe it is lawless he was complete mayhem in places like ealing in west london clapham in southwestern croydon in the southeast where there was widespread looting buildings and vehicles being set on fire and when i say the police didn't have any control for example in clapham they weren't there for over an hour and the looters

and and the use that had to have the free run of the main department store there for well over an hour and and all the shops in the main high street was smashed in and just and ransacked really and. now people were just taking what they could mobile phones trainers and things like that and there has been. some real shock by residents in that area who are speaking to you last night saying how can this happen here that's quite an affluent suburb and they thought they were out of the trouble they're. in thing they'll be affected but it just so no area is safe at the moment from this trouble because last night the police and we didn't have much control there has been some criticism of the police in the areas they were they did get to you in time because saying they're not really doing much for acting police commissioner tim godwin is just come out of a meeting. with the prime minister david cameron the cobra emergency response group and saying that the police will now be tougher but there has been some calls. the

use of water cannons and potentially arms and the army and troops coming in that's been dismissed not only by him but also by two reason may the home secretary saying that's not how we police in britain they fear that that could actually do more harm than good because last night they were simply outnumbered and they think any brutality would have done more harm than good last night they had six thousand police officers on the streets tonight stay close to that with thirteen thousand so the hope is that will get things under control but that already all the police cells of full in london over four hundred fifty police over four hundred fifty arrests have been made and so new suspects are being taken out of london to cells that are free in areas outside of the capital but as i say they're having to bring in more police officers to plead to try and get this situation under control and also vents like on this scale are rarely seen in the u.k. when you think about it what has made london implode like this and why is it

happening now. all the touchpaper for all of this was on saturday night was the fatal shooting of a man called mark duggan in in a northern suburb called tottenham what happened there was a peaceful protest outside a police station that got out of hand and led to looting and fires in tottenham then that's much faster throughout the city now and also throughout the u.k. towns like bristol burning in manchester liverpool to nottingham all over the u.k. experiencing trouble last night and this really shows that i think people they obviously had no idea who this man was mark duggan so it's not really about that anymore it's not about the police and politicians are saying it's not about people who are disaffected and disgruntled with the economy or lack of jobs it's people who are just going out to create mindless violence and and it's opportunist and she criminality that's the words that are being described used to describe the. and i

definitely saw that last night in class where i was. people as young as fourteen and then over reports people young as in places like in north east london running around looting grabbing what they can and mobile phones to them it's from other people just a lot and trying to run away from the police i think it's a game of kind of hide and seek and i just see it as. the trouble the police of facing a moment that's saying this is just criminality really and of course the pictures coming out of london and the surrounding areas of the british couple just mind blowing i rabbanit live from london of course you will continue to say on top of the situation in london thanks for that. we want to know what you think share your opinion on the u.k. riots by participating in our latest poll welcome to our web site our two dot com to contribute to today's topic we ask you what's the driving force behind the u.k. riots so far most part of the most popular response is this is from

a over the economy a quarter of you say it's the failure of multiculturalism and some of you think that criminals hungry for profit and heavy handed policing are to blame the line let us know what you think is the driving force behind u.k. riots at r t dot com. well from trouble on the streets to trading turmoil as european stock markets plummet on tuesday after a big falls overnight in the u.s. and a volatile day of trading in asia and now joining us live from our brussels is our correspondent daniel bush all day you know how bad is the situation on the european markets are we perhaps seeing the beginning of a new crisis here. well this is becoming a blood balls last week was the world's worst for world markets three years and yesterday became known. as shares plummeted but today has been even worse than even the cheerleaders for the euro and depressed. the european central bank says this is

the worst crisis since world war two and it requires quote conventional measures now when you have a central banker who are famous for their conservatism colm coming out with statements like that you understand why there's panic here throughout europe because he hoped his boy up the european central banks of spanish and italian debt which no one wants to touch at the moment would help the situation but as we can see on the markets it hasn't. this of course is very bad news for the euro which has been stumbling for the last three years how attractive is the single currency today what are you hearing. well it's about the same the situation is getting worse not better because. forcing is making the economy's slower and less strong because it's forcing countries to slash spending is forcing them to stop creating jobs to stop investing in the economy and infrastructure in building a road building and of course the number one thing to get me out into the open and

get it growing again is to stimulate people get them back to work get people building things creating things so these austerity measures are doing the opposite of what should be happening for the euro and is compounding the problems now barack obama has consulted with the heads of spain and italy the latest country to join the storm the u.s. president spoke to the terror the head of spain prime minister of italy so. many economists say u.s. is in the problem with europe and that they all have sustainable debt with no plan b. . rioting in greece. the country's economic crisis were felt across the european union and shaken international markets worldwide while parts of europe have been teetering on the edge of economic abyss who has remained stable in the storm along with this currency. there are. the widespread belief in the country that being outside the

euro has helped keep poland out of trouble here. if we were part of the eurozone then we would have been obliged to help countries like greece and portugal how can we help out someone else without solving our own problems it's almost guaranteed that prices would go up it will join the euro zone which would damage my business recent opinion polls suggest that more than sixty percent of balls want to keep their own currency a dramatic turnaround from just a few years back a few years ago the euro was seen as the euro club was seen as something very exclusive polls aspired to this they wanted their country to join the euro now the name of the euro has been sullied by the troubles in greece and italy poles don't want to be dragged into this crisis if the government forced the euro issue try to bring poland into the euro zone it could be political suicide poland has fared much better than many of its e.u.

partners in the global crisis several countries like greece ireland and portugal are on the brink of disaster partly due to a boring binge allowed by your membership and associated low interest rates being outside the euro zone meant could not join the party but now it does not have the hangover poland was meant to have the euro by next year the time when the country is co-hosting the twenty twelve european football championship but with the latest developments these plans may be shelved for another four years e.u. rules say poland is obliged to adopt the euro once it meets the economic rules for joining but both politicians are now much cooler on the idea with minister saying the eurozone needs to get its house in order first place very important for us. the need for institutional changes. i mean the governance of euro zone. crisis management. we see some need for change in the euro zone

before. our good date will be. set up the game has changed and the usual globe everyone once wanted to join me now would be the invitation no one wants to accept. it will do for the warsaw in poland. to the us now where president obama's speech in which he declared america was still an economic powerhouse has a higher sell off on wall street stocks have hit a new low since two thousand and eight after the u.s. lost its aaa credit rating or just reported i has more now from new york. market reaction to the historic downgrade of america's credit are short in the worst day on wall street since the two thousand and eight financial crisis all three major u.s. stock indexes plummeted between five and seven percent on monday now all of this

coming just after standard and poor's. downgraded the u.s. credit kicking america out of the triple a club this is already creating a climate of uncertainty or increasing this climate of uncertainty and lack of confidence among investors when they look to the stability of the u.s. economy now u.s. president barack obama of course tried to inject some optimism into the public and into the markets on monday saying that america has been and always will be our aaa economy he says that washington's problem is not a lack of policy or plans but a lot of lack of political will and he says many lawmakers have been insistent on drawing lines in the sand and now it is urgent for all parties to come together to come up with a long term approach on how to reduce the deficit in the u.s. the u.s. has a debt of fourteen point three trillion dollars and growing and at this point many

investors as we saw on monday are selling now and asking questions later the early the markets have not been reacting they were favorably to the fact that standard and poor's did downgrade america's credit for the first time ever in history. and asian stocks have gained ground after steep drops earlier in the day amid fears the u.s. is heading for a recession and india is claiming it's ready to implement fast track reforms to encourage domestic consumption in order to overcome the economic struggles. of the latest on the financial situation in asia from new delhi. asian markets have been tumbling in reaction to the latest news of the us and p. downgrading of the u.s. economy but actually many politicians and many analysts in india think that this country will only be affected in the short term by what's happening in that they're actually better equipped than many western countries especially your peon countries

to handle what's going on in the united states we have india finance minister pranab mukherjee coming out and saying that this is only going to be really a short term impact analysts are thing that the bric countries will in the long term be less the fact that by what's happening in the united states that actually if investors move if they continue on this risk aversion path and move away from u.s. treasury bonds they might actually feel more comfortable investing in these emerging markets like china and india china has taken a much stronger stance on what's going on they've called the u.s. debt bait immoral and irresponsible and they're saying a chinese newspaper recently said that the united states really needs to move away from borrowing its way out of its messes but india on the other hand has had more of an optimistic response to what's going on than china and they're really hoping that in film way they might be able to benefit from all of this. economic professor

to come gone to from the indian statistical institute joins us now live to discuss how his country plans to benefit from the crisis like we heard there from previous tell us what is in the betting on to turn this crisis to its advantage. of the job of a photo it's minister is one of the many jobs to talk about the economy but i think in this case the footnotes minister is saying the right things is that the medium term growth outlook for india looks robust it's in the eight point two to eight point five percentage range and the strongest indicator for forward that you'd be wrong. strong income growth something that the european union doesn't have. that's something that bodes well for the indian economy there are other things as well if there's a recession in the world as is being talked about that's going to reduce the price of oil into imports a lot of oil so that's going to reduce its import bill there are other factors if

there's an expected depreciation in the value of the dollar in other words of the dollar weakens and if india's rupee therefore strengthens views of you the dollar it's important it will go down as well so on the import side in terms of oil bad bodes well for india in the short term the risk is somehow whether india can finance its current account deficit because of the general climate of risk aversion in the economy if investors are less willing to invest in emerging markets how does india continue to finance its current account deficit asian markets have recovered around how their overnight losses by the close what's behind this climb. part of the initial selloff was was panic and i think the panic responded to the downgrade in credit worthiness of u.s. treasury bills but i think i think it's important to realize that going down from a aaa rating to a double a plus rating defacto isn't really much of a change indian debt for instance has a triple b. minus rating so because this is defacto not

a change i think many people around the world perceive the united states treasury treasury bill is as a safe investment even know. and after the initial panic has has outlasted i think investors realize that emerging markets like india have strong fundamentals they have strong structural reasons going into the future such as a positive demographic trend high savings and investment grades and those things kind of get factored in after initial panic people begin to look at the medium term and see that what's happening in the rest of the world is not necessarily what's happening in terms of here domestically but the world's emerging developing economies the so-called brics nations have expressed a lot of optimism in battling the new wave of crises not just india. what do they know that washington doesn't know when it comes to the economy and how to deal with this crisis. well the british economy is have theirs in our big city our big

saying is that every crisis presented presents itself with an opportunity the different bric economies have to respond differently to to the coming crisis and i think china is a is a country which which is probably in in the most precarious position because it's basically been buying dollars in the foreign exchange market to keep the rémy be undervalued to push it in just to push a model of export led growth but it also holds and then it buys treasury bills with those dollars so this is a good opportunity for countries like china to rethink its strategy for long term growth slowly moving towards an investment led growth model to the consumption of growth part of this attempt is to correct robel imbalance and i think this is a good opportunity for countries like india and china for instance to usher in reforms sure and much needed reforms to kick start good so for instance in the context of india there's been talk about pushing foreign direct investment multi brand retail we haven't done that in the last few years it's

a politically very volatile topic but i think what the finance minister is doing you're saying is that look we're in a position where the external climate facing the country is volatile so this is a good situation for india to push on its domestic reform track agenda to raise growth in the in the medium term. got here from the is the answer to school and statistical institute i should say economics professor thanks for being with us on the line live from india. a look now at some world news in brief for you this hour the leader of libya's rebel movement has dismissed his executive committee in response to the killing of the opposition military chief last month members of the national transitional council to be as high as rebel left already support the rich shuffle they said the move was in response to the incompetent surrounding the generals protection and subsequent death meanwhile nato airstrikes continue in tripoli the ongoing civil war in libya started over four months ago. with nato forces joining in march. the hotel maid who accuse former i.m.f.

chief dominique strauss column of sexually assaulting her has filed a civil lawsuit against him and if you thought through the alo seeking unspecified damages claims she was left humiliated by the year ordeal and was detained in new york in may and was originally placed under house arrest he has pleaded not guilty to the charges in a sense been released on a one million dollar bail. the united nations refugee agency has airlifted humanitarian aid into the war torn capital of somalia for the first time in five years it comes as the country battles with a devastating famine caused by the worst drought in sixty years the first of three planned planes delivered tons of emergency supplies including shelter materials to ship it was made possible after a local islamist groups who earlier prevented aid deliveries pulled out from mogadishu more than twenty nine thousand children under the age of five have died

in the last ninety days in southern somalia alone. up next is the latest business with marina stay with us. hello and welcome to the business here on artsy emerging markets are plunge into their lowest levels in months the flammable call tell over u.s. credit downgrade and the eurozone debt crisis is prompting a broad selloff on all financial markets russian equities are among the worst performers and there and the freefall this hour star for us reports from the headquarters of the r.c.s. stock exchange. well it seems to just keep getting worse here a second day of losses safe following a disastrous day of trading yesterday russian markets continuing today's hit with thing much the same story across the european markets as investors is a dumping their risk assets looking for a safer place to put that money you know what was think to take kili affecting

russia is that this own great situation in the u.s. and throughout the year you say has continued to weigh down on the oil price it's not really having quite an impact on the oil and energy make is here in the country and now we see the markets reacting to the standard imposed decision over the weekend to downgrade the u.s. one notch of its aaa rating that's really had a very negative impact in interventions by the political leaders that we've seen to try and stabilize the market have and have the posts of it but it is paid for we saw the european central bank agreeing to prop up its lead in spain and that and that destabilize situation president obama trying to calm the markets calm investors by saying that he still considers america to pull a rated country whatever the ratings agency may have said but investors on necessarily buying that there's still a lot of uncertainty here and we will thing that continuing today is things that

volatility in turbulence really remains the name of the game. let's take a look at the markets and the latest figures in russia there was a sort of a rebound but it was sort of left the r.t.s. crossed a percent for the second day in a row or right now it's losing almost seven and a half percent valda my success down almost four percent let's have a lot of resource are moves on the my sex i don't see majors are the stock losers das from air loss that are both on the right gold producer cars gold is also trading in negative territory despite gold prices surging to record highs and european markets have reversed or earlier. gainsaying are heading south the foot soon fell below the five thousand point mark for the first time and over is near the foot seas losing two point four percent the south while their taxes down three point seven let's take a look at the asian stocks they closed in the red after the sell off on wall street banks saying lost more than five and

a half percent in the month the worst performers for banks and export it was bank of china was out over six percent and sony lost over four percent so. gold has set a new record high for the second day there zero as investors look for safe haven assets but silver is making a loss us a susan over one and a half this side of the sour. that's all business news for now the headlines are next without me so.

we'll. review the latest in science and technology from rome plus. we've got the huge earth cover.

it's two thirty pm in moscow the headlines on archie britain is on a full scale alert as scenes of violence and destruction flare beyond london after three days of clashes between rioters and the police the prime minister has cut short his holiday to hold emergency government talks on how to deal with the make out. european stock markets are diving after wall street hits a low not seen since two thousand and eight panicked investor of abandoned global stocks the deepening euro crisis is fueling antagonism towards the single currency . america's latest economic slump comes despite a public message of defiance from president obama but if the u.s. credit downgrade triggers a freefall on global markets india claims its economy could actually benefit from the situation. now with stocks the u.s. stop.