coming to you live from moscow and you're watching r.t. now to our top story europe's stock markets plummeted sharply in early trading on friday following a selling binge in asia well fresh recession warnings and the piling debt in the euro zone has seen a red across the board while european banks and companies are rapidly losing in price let's not get more from our e.u. correspondent daniel bushell dalyell figure saw the markets this morning they are really about surprising are they that's right you're picking up where the u.s. left off on thursday which is the there's a deadly cocktail of ingredients poisoning investors at the moment not only is america releasing toxic figures on the employment housing and so on yesterday was the worst day for the footsie one of the world's biggest stock markets over in london in two and a whole few years on fears that the world will slump into recession but morgan

stanley has slashed its full cost for growth for the world economy a worrying saw in there and asia is not being left out of this asian markets rules so now there's a saying when the u.s. when the u.s. sneezes the rest of the world catches a cold and that's particularly true of asia which is export driven countries like china and india rely on the west to boy its products its computers its toys and so on so you understand why the whole world is suffering at the moment also this is happening on the back of german and french leaders announcing their new plan to save the euro zone and this certainly is not the reaction they were hoping for is it. this week's summit really raise more questions than it owns the announced a single financial government for the european union but the people of europe say they don't want to in opinion polls that which raises real questions about the demo kristie over just how democratic european leaders all it also doesn't point to the real enemy which is that many countries have too much that their economy is on

competitive here in europe it really doesn't tackle those issues and it's times like this when investors may wish they had the safer job presenting the news for example ok thank you very much for that update to our correspondent there daniel bushell thank you well it's been a turbulent day on the asian markets while the stall in china's flying growth has contributed to radar concerns well earlier i spoke to mr shank songs wall is a deputy director of the center for international monetary research he believes asia should a safeguard itself from exposure to the troubles in the u.s. and the euro zone. i think that these emotions of pentagon sort of it will last for a while people want to involve the circuit the diva or surgeon the recession all for us are you calling me. japanese and the european calling me an economical cooperation china on the young. china every year we should has become

a very important economical joan and because of dependence of all these economists on chinese fossil it goes so i think in the future asian countries we all coordinate on the call very very close today to a safeguards there you colonies and then there you rest them in the from outside to show a competitor from the show from you or. a us chinese also if you don't want to make these economies much more independent so i think in the near future you will say so many new steps will be taken by beijing all story is to be able to do you call me on to try to strengthen cooperation between china and the yosh and countries well russia markets are trading in the red following the global trend let's get the very latest from arena at our business a desk now merida again and those host for a day in the black they're certainly gone now both aside deafness new looks like that if you can just see behind me it's

a sea of red across the board and when it comes to russia both the arts yes and then my six are losing more than two and a half percent one point they even passed three percent but they're now limits in the losses just ever so slightly and her two majors are among the worst performers but gold prices keep climbing as investors look for safe haven asses and we'll tell you more about that in business shortly. well looking forward to seeing you then thanks marina. oh the social networks have played a pivotal role in the revolutions witnessed so far this year so far so the u.s. has thrown its weight and dollars behind what it's calling the democratic instruments to improve the world but critics say washington is motivated not by people's freedom but a desire for greater control as our scale and ford now reports. when a wave of revolution crashed over the middle east this spring.

many said and did in the streets began with one hundred forty characters or less on social media like twitter and facebook. hoping to harness the power of on line communication the u.s. state department is providing two million dollars in grants for a quote internet in a suitcase program it's part of what secretary clinton calls a venture capitalists approach to addressing the wide range of challenges to democracy and human rights activists face in internet repressive environments around the world centralized servers like this one can easily be cut by governments but the internet in a suitcase is the sign to give dissidents a mobile web with mesh technology that runs their cell phones and other devices making it harder to cut the founder of his own clearinghouse of confidential documents john young worries that american suitcase servers will serve another purpose the suitcase is meant to give the illusion that you can run usual economy devices without going through national systems and that may be true but they will

not be outside the u.s. system young says the suitcase is just part of so-called liberation technology that has its advantages for the u.s. to prosecute for being in power for you know it shows just to watch what you're doing and probably influence what you're doing and it isn't just governments according to the hackers collective anonymous which released seventy thousand classified e-mails from defense contractor h.p. gary federal about the romas coin program. surveillance project you have. you have. zero through a single you know national intelligence brown says romas claim is partly designed to manipulate social media one of the really more bizarre and dangerous. that would come to light with. the youth who are by would think a person can pretend to be a rather people who are not this software would allow the u.s. military to push their agenda by flooding social media and others say there's

a contradiction between support for internet freedom abroad and subpoenas alleging wiki leaks collaborators at home including private bradley manning in san francisco police cut cell phone services on the metro during protests those who we are francisco city government charges of hypocrisy if you can imagine. well our look at the united states doesn't in following riots in london there is talk of shutting down social media we are working with the police the intelligence services and industry to look at whether it would be right to stop people communicating via these websites and services when we know they are plotting violence disorder and criminality. the u.s. will spend seventy million dollars on internet circumvention technology in two thousand and eleven abroad even as tough questions remain at home. here in florida r.t. washington d.c. . and still ahead for you this hour age charles attack in washington waters second swimmers mauled by a great white shark after

a young man had his arms bitten off in a similar attack that stunned the country and. stunning performances by aerobatics teams from across the world for aircraft what does all this mean the march two thousand and eleven as opened its doors to the public watch our report later in the program. now on august nineteenth twenty. years ago muscovites had tanks rolling past their windows as a state of emergency was imposed a group of hardline communist officials attempted to seize power to prevent reforms that eventually led to the breakup of the soviet union but. reports despite being a dramatic events unfolding in the capital many were being kept in the dark. if you turned on your t.v. set in moscow on the morning of the nineteenth of all this one nine hundred ninety one this is what you would have seen tchaikovsky's swan lake. why are so many

muscovites because on the streets this is what was really happening. there was confusion and panic even among the tent crews themselves marked with we were ordered to march towards moscow i thought i'd figured out when i get there as we weren't given any information as to what was happening. soviet leader mikhail gorbachev had been shot in his holiday home in the crimea a state committee on the state of emergency declared itself in charge it was made up of high ranking communist party officials including the head of the k.g.b. gorbachev's vice president and the defense minister they were terrified that gorbachev's democratic reforms and the union treaty due to be signed on the twentieth of august would give so much power away from the center to the soviet republics it would destroy the soviet union. but it was an act of treason on the

part of gorbachev a new sin and this circle outright treason they were going to ruin our country less . in a press conference later that day they said that gorbachev was ill and that they would take over in his absence but their show wasn't convincing on the nineteenth of august vice president kennedy and naive on the other members of the emergency committee sat in this very spot in water since become my offices as he delivered his statement the assembled journalists noticed that his hands were shaking then one twenty four year old journalist blew his official words right out of the water . bottle to tell me do you realize that you've conducted a credit they look pretty. very convincing and. they just got mad meanwhile on the streets the russian supremes soviet building

the white house had become the center of resistance to the coup boris yeltsin the president of the russian part of the u.s.s.r. had convinced some of the tank crews to switch sides people flocked to join him and demand to prove the chops return. if yeltsin tells you that was a yes of in your command a trait is an enemy's whose always will you have be as night fell on the twentieth of august the curfew ordered by the cool denies is raised fears of an assault on the white house when armored vehicles began moving through a tunnel and night protesters disillusioned with the communist party rose up to defend their hopes of democracy. of kamaz son dimitri was killed one would believe an out onto the road where his friend legitimate tried to drag him away while the machine rode out with my sons had and killed lead to marriage wow. the coup had failed and what's more it destroyed trust in the communist party which was then bam

russia in november one nine hundred ninety one by the end of the year the very system they sought to keep alive the soviet union had ceased to exist dumbarton r.t. . well follow those three days in august one thousand nine hundred want to step by step in our special report in less than twenty minutes time here on our t.v. meanwhile there's more on the fallout from the attempted coup on our web site that's our team call read about those who still feel the fall of the soviet union was a disaster as russia's communist party believes cool organizers were right in their attempt to save the r. . and others aren't even aware of the u.s.s.r. is gone thinking it's still a threat to the u.s. responsible republican presidential candidate michele bachmann believes you can find out why at r t v dot com. now let's look at some other world news in brief this hour

a series of suicide explosions have hit the afghan capital they were called by the british government at least ten people were killed gunfire was heard at the scene and witnesses said smoke was rising from the area officials say the british council was the target of the taliban claimed responsibility say the assault marked the anniversary of independence from the u.k. in nineteen. israel's military says five rockets fired by militants from gaza have landed in the south of the country it comes after the jewish state carried out airstrikes over the strip following a series of deadly attacks six gazans were reportedly killed including a child while a dozen were said to be wounded earlier israeli officials promised a strong response after assaults on the vehicles near egypt's border left seven people dead blamed was pointed at gaza militants although the hamas government did not their involvement. international pressure continues to mount on the syrian

government with the u.s. and the e.u. urging president assad to step down a set of economic sanctions have also been imposed in what is the biggest response so far to the violent crackdown about to go. i have protesters a new and humanitarian team is just on saturday to assess the situation on the ground will syria claims army operations against protesters have ended meanwhile some russian officials say moscow does not support the call for president assad to resign saying he should be given time to implement promised reforms. a sudden storm that swept through a popular open air music festival in belgium causing two stations to collapse has left five people dead and more than seventy injured the bad weather also toppled trees and brought down giant screens at the venue there was panic among the festival goers as rain poured down and winds whipped up organizers estimate sixty

thousand people were attending the event at the time. now a killing machine has invaded russian waters as two men have so far fallen victim to what jaws attack in the country's far east but troubles are sweeping the area on the lookout for the prehistoric monster while local authorities have promised over three thousand dollars to the person who could capture the creature from the deep. explores the dangers. nothing like this has ever happened here before russia has never seen a shark attack let alone two in two days this sixteen year old boy was diving one hundred meters off shore when it appeared the young man's wetsuit service protection and saved him from death but both his legs were severely wounded. but it was tied up some guys went on to do. a first date. only

a day earlier a twenty five year old man lost his forearms trying to defend his wife when the couple was saved witnesses were shocked at what they saw but i would ask if it was really scary a country even describe it the man's hands were chewed off and the boat was full of blood. the attacks happened in the far eastern premal you region that shares a border with north korea it is known for its beaches and clear water and swimming here has always been safe dangerous sharks don't usually go that far north in the sea of japan scientists believe the predator was a white shark a man eater and are trying to work out what it was doing here. this type of show it really comes to waters is a species that lives in tropical and subtropical waters of the ocean but with global warming they're now starting to move more and more to the law out of roughly three hundred sixty species of sharks just over thirty are known to be dangerous to

humans the rest are either too small only of today but most experts agree that any shark with shop enough teeth and longer than one point two metres can cause serious injuries especially if there's food in the water and while scientists are looking for the reasons for these recent attacks the swimming season in the area is over at least for the time being very brisk over r.t. moscow. skies around moscow have been even busier than usual this week with the max international air show flying machines performing all kinds of gravity defying stunts are going off is there for you. there are sounds of jet engines on propellers in the skies and scores of various aircraft on the grounds of what does all this mean the must two thousand and eleven air show has opened its doors to the public the previous couple of days it was

primarily open to official and business delegations inking out those billion dollar contracts with some big names of civil and military aircraft producers from all over the world but now everyone can enjoy these machines with their own eyes right here at the mox two thousand and eleven there's a lots in store for everyone to watch here at the air show we've already seen some stunning performances by the russia knights swifts and falcons we're expecting more from them there's also a great variety of the various helicopters for those heavy lowers out there including this the fifty two alligator one of the latest built here in russia this is really a true green mean war machine if you notice it has a unique actual rotor system which gives it extreme and over ability that is

definitely going to be one of the biggest violates the air show seen this machine out there in the skies with the pilots showing off their skills but probably the biggest highlight of this year's mox air show is deal latest russia's top secret self fighter jet the code named the t fifty and r t's even though school found out why this plane is of such strategic importance many have heard about it until now only a select. if you had seen it with their own eyes i too have asian fans the t fifty is known as pac but this is it is still being developed so most of us technical specifications are top secret in fact as close as we can get to the real thing is this model right here but during the next day or so visitors get it sure we can meet just to see the jets in-flight the first ever public display for fox but the jet is being developed by the sukhoi design bureau under the watchful eyes of the united aircraft corporation and the entire project is shrouded in mystery in fact

representatives of the corporation say the project is so secret they can't even talk on camera about it so it doesn't give us the united states and russia are the only two countries in the world that have the technological potential to implement a large scale national project for the development of a fifth generation jet fighter the fact that russia is demonstrating two models at this year's max air show is strong evidence that russian navy ship is in a very good state the jets will reportedly be able to carry out combat duty in any weather at any time of day will feature a special coating which will make it less noticeable to and to aircraft traders and will be able to cruise at supersonic speed but most of the guesswork boils down to this when fully developed the russian fifth generation fighter will give the american after twenty two and f. thirty five

a run for their money in terms of stealth capabilities maneuverability and cost smaller than yours that at this being a new generation fighter it's much more comfortable to fly everything was designed with safety in mind it has thrust vectoring engine so it flies safely at low near zero speeds it's safe even want to fly still first the data environment in the cockpit is also the fighter provides intelligence support to the pilots or to the jets are supposed to be fully developed. by two thousand and fifteen it's hoped orders for roughly six hundred jets will follow with one third of that number going to russian air force but until the final touches to the project are made the only chance to see the hope and pride of russian aviation is the max air show in the r.t. . region i'll do stay with r.t. throughout the weekend for the best of this year's max airshow coverage.

for a. future. or two. to show well in a few moments you can watch our special report on the events that took place in the russian capital twenty years ago and change the country's history forever but before that all the latest business news with marina. hello and welcome to business here on c.n.n. the markets have opened a sea of red from asia to europe there is very little to be positive about negative data from europe ending the last have heightened fears of a double dip well to lighten the gloom or will say i'm now joined by saying jacob search is a columnist that sexo bank mr jacobson trying to tell us is now the time to panic

perhaps. well you know it's never time to panic. obviously we are facing as a true struggle in terms of the political environment in particularly in the in europe and to some extent in the u.s. but what the investors now needs to do is to look ahead and look long term because obviously a lot of stocks has gotten too cheap relatively to the intrinsic value they carry but having said that the main focus right now in europe i think and interest understand us is the banks and the banks ability to fund themselves which is treason leaders are coming in is you know what's going to be enough to turn the market do you think well if you look at very clearly we need germany to commit wholeheartedly to this process germany own sort of the deserving rights in terms of being able to. talk because as it is right now no one can everyone knows we're going to move to e.u.

bonds eventually but there is a political struggle ahead of that so we need some sort of assurances that they committed i don't think the emergency merkel and sarkozy meeting last week was this week was it was any comfort unfortunately but we need to germany to commit and we need some sort of. thing from the policymakers to get ahead of the curve and right now they're way behind the curve and it seems like to me at least politicians and not facing the real crisis. so set commitments and so on says from the e.u. now how likely is that to happen in the short term. it seems from the political rhetoric and watching the domestic german agenda it's very unlikely but as you know as well as i do as when things comes to almost a standstill it's a crisis two point zero as i call it is present crisis then the politician all the sudden find within themselves the ability to do something to should have done a long time ago what remains to be seen though is again to get ahead of the curve i

think in order to save the european crisis we need to see at least three trillion dollars in your a sorry in terms of funds have made available i don't think that's like a very not so for mile we've looked like we're going to be going into q four in q one and next to you in a crisis mode i can tell us how myself up by an opportunity has the market become with such a dramatic falls that we're seeing right now well if you look at value investing from bottom of investment obviously this is a very very good science but you have to remember that investment is always based on the degree to which it's taken so what is important to note now for investors need to ensure in a long term is that there are several good stocks across the globe where you can buy now and buy them a reasonable prices but you have to cater for the fact that liquidity the banking side of things will be increasingly under pressure you probably see the banks and you're having to recapitalize to some extent some of the u.s.

banks also going through the same exercise so would you have is to balance the good value in stocks with the lack of the critique and it's just i think what you need to do is just to average yourself and don't commit fully here don't get too discouraged either but you know by five percent of the cast for the full year this month five percent next month an average yourself into a good position i think in my opinion that's the way to play all right that's a come back to the russian markets what do you think is the biggest concern the global sell off or the falling price of oil. neither actually i think the biggest concern for the russian market as i said when i was visiting with you is that the capital outflow in russia continues to be there every single day in some way or another you need to stem the alpha lot of capital because that is in itself a huge statement that domestic russians doesn't trust their own markets if you look at medium term long term i don't think the oil prices is a big issue i think the world growth will come back we've seen growing signs that asia is now willing to ease monetary policy somewhat which is by by a by

a long shot the biggest buy a new unit all of these days so all is not an issue the crisis is having some small impact right now on the economic numbers will have a slightly bigger impact going to few months forward but in itself i think the major thing to watch right now is how you stem the outflow of capital in russia. still jacobson chief economist. doesn't matter still lights in the gloom five thank you very much for your insight thank you. now let's look at the forces were brought out of the top of so well there are the forces that sour that's all the business news for now more stories head to our website r.t. dot com slash business the headlines are next.

welcome back you're watching our now let's look at the main the stories we're covering for you this hour the world's financial markets are can falsify a fresh wave of selling amid fears the world economy is declining xpress with a bleak forecast of american and european. both saying both are dangerously close to recession. the u.s. russia so far has foreign internet services thought to have played a pivotal role in the arab uprisings but critics say while spending millions to promote all live freedom abroad washington is out to gain more control over that's really where. russia remembers the attempted coup twenty years ago that precipitated the breakup of the soviet union and russia did a report a country.