for a good morning for me kevin owen here at r.t. in moscow this morning it's no one on our top story some six thousand police officers were trolling the streets of london in a bid to prevent more clashes but tonight it's in the northern english city of manchester that a large group of youths have been throwing missiles and police the random violence is entering its fourth day although the worst hit areas of south london appear calm reports. london mayor boris johnson a rise in the riots devastated clap and to a mixed reception delivering the government's message to rioters that they'll feel the full force of the law to. the future. but who's going to catch them across england and wales more than eleven thousand police have already been laid off in austerity measures by two thousand and fifteen a total of thirty four thousand will go meanwhile london and other cities are taken

over by thugs the police have not been anywhere where if the police if the police were hit that would have been i think any surprise i think south a little bit better i don't think they're doing everything they can and i don't mean to be more violent i think they need to be more competent while police numbers are being cut the estimated cost of the war in afghanistan from two thousand and one to the end of last month was thirty billion dollars all taxpayer cash british forces are also heavily involved in libya despite the ministry of defense saying required to lose thirty two thousand start m.e.p. general patton says money's being spent on foreign wars that should be spent at home. i think that the point is come where we have to call in the armed forces what we're seeing now. criminality across the whole of what we should do in my view is pull our troops back from these pointless wars in afghanistan in iraq. as monies

spent on two wars in foreign lands parts of london birmingham liverpool and bristol i said should we get to use partly because of high immigration but also because young people in these communities have no prospects they're bored and disaffected and as the cuts bite that's not going to improve a class youth worker told me four out of eight youth centers have closed since last year it's about investing in our communities we take away the money from the police in the way the money from the youth work. i mean i could never imagine such consequences to be only you know you will get consequences tuesday night sixteen thousand police officers on the streets of london according to the metropolitan police the force is being stretched more than ever before and increasingly londoners are talking about taking matters into their own hands bringing the

situation under control it's just the beginning of folding this problem and it's not just about cleaning up it's about communities coming to terms with the back then even at the current numbers if violence is widespread enough the police seem unable to retain control the feeling of insecurity in these communities is likely to remain for some time particularly if police keep disappearing from the b. your m. it r t london the initial spark for the violence in britain was the police shooting of a man in tottenham and turn sions could once again be stoked after initial ballistics tests suggest the victim mark duggan didn't actually fire a gun at the offices of two independent journalist patrick henningsen who was himself caught up in the violence he told me the government should stop playing political games right now and address the important issues. to be honest this is one of the most shocking things i've ever had the displeasure of saying i was in brixton early monday morning about one am i saw gangs of youths who were some

of which had fled from the central brixton into the surrounding areas like stockwell barricade in the streets with rubbish bins or anything they could find in order to stop cars and try to pull drivers from the cars and take the cars i saw in one instance this happened one man came to help the driver and he was beaten by a gang of six or seven young black youths in brixton very frightening i was barricaded in a pub for part of the time because we couldn't go out and the pub got sieged about an hour after the incident so no police to be found even if you dial nine nine nine the police said sorry we can't help you just stay where you are now if the leadership of this country and the heads of the police departments everything have been paying attention to what's going on around the world in the middle east in north africa the leadership in britain in the police force in britain think oh we're different no it's the same you have mobile phones blackberries twitter you

have mobs that are able to outmaneuver the police at any turn and the police cannot cope with this and unfortunately the criminal element know this my advice to the leadership of this country all your m.p.'s and david cameron and everybody else stop playing politics stop playing labor and conservative the blame game and you've got to start looking at what's going on the street. well as one taken out we will know what you think is well on our website r.t. dot com we've been asking what do you think the driving force was behind these riots over the weekend and last night the majority think it's the result of heavy handed policing it's not changed much after say through the evening was a fifty percent or on dipped under forty six now but they're about little but a majority others of you blame it on the struggling economy and the failure of multiculturalism in europe rest of you think it's criminals just trying to grab anything they can and when they get the opportunity hence the looting we saw you can have your say make that graph change r.t. good point. the us federal reserve's admitted the us economy is not as strong as

its thoughts and it could force it to keep interest rates at record lows for the next two years to help carmen vestas the fed's comments pushed the u.s. stocks into the red but some late trading saw markets recover their losses artie's report got the latest from new york for you. before the federal reserve did release a statement many traders and investors were anticipating that the fed would do a bit more to help to reassure nervous investors but it doesn't seem to be the case the federal reserve met for the first time on tuesday after the u.s. is credit rating was downgraded from aaa by standard and poor's so this was a meeting that came right after that happened and the federal reserve announced that the u.s. interest rates will be kept at record lows for another two years through twenty thirteen we should mention that interest rates in the u.s. have been near zero since december two thousand and eight of the financial crisis

hit the u.s. and you know infested the rest of the world a lot of a lot of experts believe that is actually hurting the economy by keeping interest rates so low bank banks are squeezing lenders for more profits and then it becomes a systemic kind of web where everyone squeezing one another initially fell after the federal reserve did make its announcement the fed did use some kind of somber language to describe the america's current economy saying that this year the economy grew at a much slower pace that the fed actually anticipated you don't have to pay attention the dow jones or the s. and p. to understand that with fourteen million americans out of work and six point six additional americans so discouraged from finding the jobs they stopped looking there is a problem when you have more than forty million people on food stamps when you have one million americans that have lost homes last year and another one million

expected to lose homes this year you understand this is a significant crisis and this is a crisis i can tell you from what i've seen reporting in different states throughout this country it's a crisis that's not being tended to in a way that it's supposed to it's not going away. if anything it's deepening it is getting worse and a lot of the cuts that are now being made by the federal government are cuts go into social programs such as. food stamps so you don't have to be an economic expert to understand that the situation right now is very tense tense and confidence clearly is declining on his course what a report in new york post columnist eric margolis told me the u.s. is spending too much oit now on its military adventures when it should be concentrating on issues back at home. it certainly will. send vors and retired americans all the people who put their money into retirement accounts

and plan to live off the interest on its accounts there will be no interest and there will be no income for a lot of them and what this needs is the government is still sure and not the banks but at the cost of ordinary consumers it's now in states where being under invaded grave error from outside powers will no principle be too much to pay for her defense but we're not paying for defense right now we're paying for oaths and it's in the sense that america's military operations are all around the world and america is simply spending too much on the military americans are bombarded with low kinds of them arms warning of outside forces trying to attack the united states us military spending now accounts for almost half of world military spending and it is inevitable that the pentagon budget is going to have to be cut but it's going to be very hard to do so because the answer gun and its allies in the it's very

defense industries are very cleverly it spread arms production across almost every state and even yet making sure that whenever a plant to sling cut down the arms program you're going to have senators and congressmen bringing bloody murder of right across the country at margolis with the global economy stumbling deeper into certainty if we look at the latest developments on a website called this just a taste of what we've got lined up to hear. voices join the call for review of america's priorities telling me just to put aside plans for world supremacy and to feign the people instead what you think we're bad short of the debate online tonight at r t dot com also this related to a look at how the financial despair in the u.s. is turning some thriving industrial centers into ghost towns it's a revealing report we've got for you online to. it's exclusively at r.t. dog home. european shares regain some ground meantime after their own

heavy losses but the eve central bank chief warned the region's financial system is now in the worst state since world war two that's despite the banks started to buy government bonds from spain and italy to prop up the struggling economies trading's been volatile with fears that euro zone and u.s. debt could slow growth for already struggling economies the euro zone's playing the boost the powers of its bailout to keep contagion or try to at least from spreading to a major e.u. connally's earlier thought a christian right from the frankfurt technical university told me the european central bank's move is actually doing more harm right now than good. if you look at the mere size of a country like italy i am convinced that it is not possible to do just lets say is straightforward as a matter of fact what the e.c.b. is doing here i think is perhaps to do it quite strictly is a breach of trust they encourage certain behavior so that some countries can free

ride on the expense of others and this is something which in the long run rather threatens the euro area than strengthen is. we should be aware if you look at your own spreads on government bonds they are now almost make. to the pretty euro levels and i would say this is something which shouldn't amaze us too much and it shows that in the whole me i'm tired that is in the time from the success of the euro and nothing very much has changed if we enter a direction in which we encourage more and more selfish behavior by individual countries i would say this is a real threat for the whole euro area an interesting twist to all this as the eurozone members join forces to say their common common economy one e.u. state is happy it isn't bailing out the single currency right now poland was supposed to adopt the erode next year but those plans are now on ice which was already going to stay out of the crisis jet skis got that side of the story. while

parts of europe have been teetering on the edge of economic abyss poland has remained stable in the storm along with this currency. there is a widespread belief in the country that being outside the euro has helped keep poland of trouble. 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 if we joined the eurozone 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 scene or something very exclusive polls aspired to this they wanted their country to join 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 into the. 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 poland 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 polish politicians are now much cooler on the idea with ministers saying the eurozone needs to get its house in order first but very important for us

. for institutional changes. into eurozone i mean the konami governance of euro zone and also some crisis management tensions we see some need for changes in the eurozone before. target date will be. set up the game has changed and the euro club everyone once wanted to join me now would be the invitation no one wants to accept. r.t. reporting from warsaw in poland. taking you through some of the top news stories no swirling emergency services searching for a ton of twelve cargo plane that disappeared last night in russia's far east with eleven people on board the plane is missing is the oldest aircraft in russia's civilian fleet it was heading for a town in the chukotka region when the crew told air traffic controllers that one of the engines was on fire they asked to make an emergency landing and then shortly

after that the plane disappeared from radar authorities say fog and heavy rain hampering the search. libya's government has accused nato of killing dozens of civilians in the west of the country tripoli claims at least eighty five people died during recent strikes officials say nato bombed south of the city of the litter to allow rebels to enter the area for its part the alliance says the targets were military meantime bed of libya's rebel movement a sad thing to tire executive committee which functions as a cabinet it follows the assassination of the commander of opposition forces last month r.t. spoke to steve lebanese nor from blogger he told us it's all b.s. there's no agreement right now in the rebel government and nato is losing the war. the rebel camp isn't this a really easy to give committee was this there were unconfirmed reports that the rebels would sit inside is the worry that they were literally in testing and know each other some people call it was the only others say need always last is the

last of all we need is going to win this war new terror but they certainly can win it by imposing its three hardships first on the libyan people legal claims we're not targeting civilians we know killing civilians they made it one quarter call mistake needle is targeting civilians there is part of a strategy for me us girls going school was only university if there's like killing civilians over the world here this. also making headlines at least five people have been killed and eighteen injured in a clash over unlawfully seize government land in the afghan capital kabul around two hundred took part in a gunfight between local residents and guards there complete left several houses destroyed in key roads blocked security forces were thought of using water can try to disperse the crowd. at least fifty children including fifty people rather

including children have died after a passenger boat sank off the indian ocean archipelago of camorra the vessel was scurrying over one hundred p. . when both of his engines failed and i think that's what caused the boat to capsize those with serious injuries were rushed to the main hospital of the capital while others were treated in local health centers so the accidents like this relatively common in comatose as boats are often overcrowded. now tell me who accused dominic strauss card of sexually assaulting her has filed a civil suit against him now nothis tasso diallo accuses the former i.m.f. chief of launching a violent and sadistic attack against her when she was between his manhattan hotel suite in may star's car pleaded not guilty to the charges and been released on bail amidst outs over the maid's credibility regional security syria's neighbors are increasing the pressure on the government to end the ongoing crackdown on protesters several arab nations of recalled their ambassadors from the country and now turkey is also joined the growing chorus against president the sad it comes as

government forces intensify the assault on opposition strongholds with tank and artillery fire over three hundred people have reportedly been killed in syria over the past week making it the bloodiest five months of writing. i'm kevin zero in that so the news looks tonight from r.t. now with the current financial turmoil in the us and europe of course making all i'd learned there's more talk next about the need for a new global reserve currency but last april r.t. spoke to a nobel prize winning economist joseph stiglitz some even the bretton woods conference and his words now we see more relevant than ever.

joseph stiglitz is a nobel prize winning economist and columbia university professor and he's pushing for a rethinking of the global economic framework in the wake of a financial crisis now he's come with other economic and policy leaders to the historic bretton woods where decades ago a conference here led to the formation of the international monetary fund and named the u.s. dollar as the reserve currency and they've gathered to rethink some of those very policies he joins us now to tell us more about it i want to thank you so much for joining us professor now you've written recently about the increasing disparity between rich and poor in the united states and you've even compared these conditions to what led to the unrest we've seen in the middle east so what do you think are the factors that led to this and what do you think the consequences will be with. the increase in the concentration of income and wealth

in the united states has been enormous. in the last couple decades is almost a quarter of that income goes to the upper one percent. around forty percent but now you measure it goes to one percent. americans used to think of themselves as a land of opportunity everybody else thinks of themselves as a land of opportunity and they think of old europe as ossified. the data. show that most americans are worse off than they were a decade ago and that is if you include the sense of insecurity the loss of jobs that will it insecurity but health rights that most people in europe take for granted in the united states people with they lose their jobs can lose all the

access to health care one of things that i raised in my article was that if you have a very split society there are going to be very different views about what's important if the rich can buy their own parks they don't need to have public parks if the rich can buy their own education we don't have to have public education if the rich can buy their own health care we don't have to have good health care for most americans and that's where we're winding up today so the people at the top that one percent. are using their political power to try to preserve their wealth and meanwhile making sure that the government doesn't do what is necessary for the prosperity the functioning of our entire society so who's to blame here is it politicians asleep at the wheel or out of touch with reality or their greater flaws in the system it's both i mean there are some really for deep flaws in america's political system. our campaign contributions supreme court said the corporations

are people i mean it philosophically i find that difficult but they said because we can't restrain the rights of free speech corporations have limited the ability to contribute and that means they can use their money to get laws that allow them to escape taxation and to shape a political process that really works for them but not for the rest of the country what about the u.s. dollar because you're someone who is calling for a new global reserve currency but why because some say what's the alternative really would i argue and i've argued my bookmaking globalization work is that the dollar reserve currency system contributes to inequality. that poor countries are lending to the united states or close to zero interest rate and

then borrowing back to a much higher interest rates an equitable increase it contributes to instability. and it actually contributes to a weakening of global aggregate demand a weak global economy because if the countries are setting aside literally hundreds of billions of dollars. saved the cautionary savings. that's money not spent time has also been critical of the united states for its policy of quantitative easing and if i've read your writings correctly you seem to be saying they have a point so what is that point the point is the us is creating liquidity us worked very hard to open up global financial markets and one of the implications of that is when you create with quiddity it can go anywhere in the world it was where's it going not where we need it here in the united states it's going where it's not needed in china and brazil and other countries that don't want it so it's not only they don't need it they don't want it. we have to fix the banking system the united

states our system of getting money. into small medium sized enterprises is clogged and the federal reserve has not fixed it you know they they contribute to creation the crisis they didn't understand the basic economics but because they didn't understand the problems that they were creating they didn't really understand how to fix it and yes they brought us back from the brink they saved the big banks but they have not really gotten our economy going again i want to thank you so much for this interview. wealthy british.

markets. find out what's really happening to the global economy. there are no holds barred look at the global financial headlines two kinds of reports.

six. months. meet. her at least sleep. sleep sleep. sleep sleep. sleep.

sleep sleep if. you get more news today violence is once again flared up if these are the images the world has been seeing from the streets of canada asked if showing up for a shelter all day seemed. this morning thousands of police move on to the streets of london to provide new

violence and looting up to three days of disorder and an outbreak of unrest has been reported in the northern english city of manchester where hundreds of people drive. u.s. markets recover their losses in the turbulent trading despite of cool response to a federal lower than expected economic growth the federal reserve says it will keep interest rates of record lows for the next two years to come invest. europe's top bank is the continent's going through the worst financial crisis since world war two european markets sudden uncertain day to day despite the central bank's move to buy bonds from the region's crippled economy. next the kaiser report is on r.t. . for the full story we've got. the biggest issues get a human voice face to face with the news makers.