i know what's really happening to the global economy with much stronger no holds barred look at the global financial headlines. cars report on our. rome on the road to the euro zone's third largest economy takes a hit as inklings credit rating it goes down sparking fears of and in the deep financial crisis up across europe. israel calls for peace talks with the palestinians but plans mines on their border rather the palestinian bid for a seat at the u.n. this friday could open a pandora's box. and multiculturalism under the microscope the turkish president visits by trying to break down a wall of issues facing immigrants in germany.

this is the line from moscow and he's credit score has taken a knock financial ratings standard and poor's has downgraded the country by one notch deepening figures owns economic worries the agency also gave a gloomy forecast for the country's ability to self out of trouble with these promises he's criticized the decision calling it out of touch with reality but i simply said it was prompted by if you use weak economic growth and fears the government will fail to deal with its huge debt despite parliament recently passing an austerity budget well it sounds great now means it could be more expensive italy's borrow money to pay its creditors meanwhile cash strapped greece has been given an ultimatum by e.u. and i.m.f. officials to enforce deep a budget cuts if it wants to avoid going bankrupt early next month that solved the euro zone. it is choose to wait until. a full ruling on whether to release the next

eight billion bailout that someone is now with any people he's lived in brussels for us many times of being with us in this deeply now what does this downgrade of italy's rating mean for the country and the whole eurozone. well it's a natural progression is it not grading bombs it doesn't matter whether you buy sayings we bonds tesco palms italian bonds american bombs they will all have a risk assessment and the risk assessment the market has decided today or rather last night is that italian bonds are graded that day some of us might argue that that's quite a generous grading in its own right. so you're not surprised. you know better than i used to do this for a living and like most politicians i used to be an investment manager specializing in fixed interest and i'm a little bit surprised it's taken so long for italian bonds to be downgraded. and i

have to say something else i'm very surprised that the u.k. gilts have been downgraded if everybody bothers to sit down and work out the numbers but it's a pretty please case forward has just passed you will stare if you measure is seen as the first step in the country's recovery say why do you think sound importers need this decision and now is the time the significance. well yes it is significant and of the first time i mean i'm under financial economist by profession i've only been in politics for about seven years and i'm speaking to you from the european parliament what is the most frightening thing the most terrifying thing is almost nobody here really understands the sort of danger the global economy is now in it's extremely frightening we have banks from countries we have a european central bank which is underwriting junk sovereign debt with taxpayers' money and this is exactly the sort of problems we had in two thousand and eight with lehmann brothers with getting exactly the same route the difference is that

they're not junk mortgage problems for the united states they are junk sovereign bonds and i made the point to mr tracy only a few weeks ago but he's following exactly the same as we did in two thousand and eight and i see no reason for the outcome to be any different he's saying this is a contagion that could spread further across europe. how can it not how could it not. portugal's broke greece's broken limbs broke spain suddenly broke. the french are talking a good story but if you look at the numbers the french are in no better position if you look at the numbers you'll see that the french three bailouts that they've agreed is roundabout the equivalent to two thirds of entire year's french income tax this is going wrong as it was always bound to do it's a failed project it's a frail currency project fear is a falling across the world gold isn't rising people think gold is rising fear

counts as a fall ing and i tell you something else if i may this is been a political project from the beginning and i would have the people responsible incarcerated in jail at this very moment ok yeah strong. accusations that talk about politics now that's and p. has also criticized the government saying it might not be able to handle the current crisis is this a political decision or not purely an economic one do you think this is all about politics the euro has been about politics since the very beginning the e.c.b. it's a virtual bank was no lender of last resort except the taxpayer and the taxpayer is already rebelling they're rioting in greece i gather today that they're rioting in rome they simply can't go on this project has no political democratic mandate it is doomed to end in tears it's just a question of exactly when before christmas or after christmas like a pretty prosperous country believe any member of the united kingdom independence

party many thanks thanks bill. now italy's credit rating downgrade is just another blow for the already weak euro zone as we were hearing let's cross live out our business plan and how financially worlds reacting to the latest news you hear can you give us the latest market reaction to what's happening with. the european markets are trading in their blood like on choose day and this hour the german dax is mordant two percent up meanwhile the london could see is more than one point two percent up as well so that's despite standard cause downgrade of credit rating that could cause a drop in demand for their goods obviously but some analysts are saying that it's unlikely to have much impact on the euro also the positive sentiment is supported by but this speculation greece could receive the next tranche from international creditors plus investors are sitting on lots of cash as well and although most of them are still very cautious some are directing their cash into new york but the

overall sentiment is negative as they say italy is this third european europe's largest economy and this downgrade will have a negative impact on economy and of course we'll get a better idea of direction with germany economic data which is out later today and of course the fed interest rate meeting which to morrow so back to you for the moment getting those markets on the block at the moment though of course we'll get more from about twenty minutes time in our full business bulletin but for now thanks. to the palestinian leaders rejected an unofficial israeli invitation to restart peace talks in new york where world leaders have gathered for an annual u.n. meeting the call for negotiations was one. hell of a move to halt his ambitions to win u.n. recognition and as he took in the reports now on the calendar it's russia's taking to see the palestinian plan go through. russian foreign minister sergei lavrov held

an urgent meeting with u.s. secretary of state hillary clinton now members of the delegation are telling us that even though this is a closed door meeting the assumption is that lavrov and clinton were negotiating the future of talks on the israeli palestinian relationships the palestinian bid for statehood at the united nations security council is really stealing the show this year we know that palestinian leader mahmoud abbas is expected to present palestine's bid for recognize statehood to the u.n. secretary general ban ki moon in the next days to come and this is something that we know israel and the united states are really not fever and they have been calling for the whole to negotiations between israel and palestine to kick start again on a bilateral level this is something that palestine is already seems to be tired of so it is taking these specific actions to try to get its feet recognized within the within the international community so it's truly busy week lies ahead at the united

nations of course often the highlights of the week become speeches of world leaders addressing the general assembly hall and this year is promising to be no exception for a look back at some of the more historic moments that have taken place throughout the last two years let's now go to our report. if only these walls could talk. into a pumped up wow factor and center stage drama would be their story every year for about ten days the united nations becomes a mecca for world leaders of the confrontational to get surprising to the out right blocking the when she will damage and never fails to impress what happens right here becomes a mirror image of what an engaging game politics heavy over one hundred ninety members make up the general assembly to get attention leaders have to get creative if you want a lot of the tension you could try to like streak the united nations nobody's stunned that yet nobody's come in but naked with the gold on their back i mean so

far none of this has happened but i wouldn't rule it out in the future that's one of the few tricks that have not been performed here yet i think the one that i remember the most i mean it was could i think with who i guess will never be back here again so it's becomes memorable because it's a collector's item now his long speech and carrying up tearing up the u.n. charter and falling asleep so we're just regular corn you're out of. corn in the wind but you are hard to destroy the constitution of course the record holder for speech length an indian envoy in the fifty's nobody remembers what he said but they remember that he went on for eight and a half hours exhausted the diplomat collapsed at the podium only to return and carry on the u.n. is really only it's owned by its member states so it's not really anyone's role to you know becoming a western and grabs you know you've got to when they're up there they can go as long as they want they can also see whatever they want and accusations often go flying towards the u.s.

yes even then ok. thank you. to be really really here and it's necessary for still today and from the u.s. the greatest obstacle to this future is that your rulers have chosen to deny you liberty and the media obsessed with creating one. out of bill's performances from she could clad carla bruni becoming a headliner for the simple act of showing up to sergeant leader nikita khrushchev allegedly banging his shoe against the podium a grave for colonial slavery that should be buried the deeper the better half a century later the story is rumored to be a favorite among tourists visiting the u.n. the soviet leader son says the episode is a legend as the shoe banging was never captured on video. over the media of you or the t.v. . how all. for. you

can believe in. to showcase word as deed officials pull out so-called facts swearing accusations backed up by wooden seal the need to invade iraq by nonexistent weapons of mass destruction but we're giving you our faction conclusions based on solid intelligence the key players come and go. because you have the firm. and just so. open with the fierceness clearly not for into this international political stage drama year after year as the number one guest to r.s.v.p. and so r.t. new york and the west bank israeli fact police and defense forces are gearing up to bear the consequences of the palestinian aspirations the sovereignty as they expect mass marches in support of the new the land lines are being planted alongside the

border. is watching the preparations in israel. there's a growing sense of isolation and money israelis for months they simply named it september and elsa timber is here and with it the ease and uncertainty about what to do when palestinians ask the united nations to recognize a state i think the responsible thing to do from the i.d.f. point of view is to prepare for any eventuality prepare for the worst case scenario and hope it doesn't happen the worst case scenario is violence is even talk of a food into fodder the israeli army has been preparing for months even up security on settlements and planting new land mines along israel's northern borders but many complain these missions go too for now they are going to work. maybe it's more common for. the last thing to live if one says a repeat of the chaos at its borders three months ago when hundreds of

demonstrators stormed the israeli syrian border in a show of sympathy for the palestinians twenty protesters were killed by israeli fire the area is littered with mines and added danger to those clamoring the mines are not necessarily very to deal with people who have peaceful intentions but mines are a legitimate form of the fence many countries have mines on their borders for that reason in one of its internal magazines israeli army said it was planting new mines in the area as a deterrent against any future demonstrations that might take place crowds are expected to surge forward when palestinians put forward their case at the united nations and the army refused our request for an interview the most they gave us was an e-mail response in which they said they were performing ongoing situation assessments and doing everything required in order to ensure that the daily routine and security and israel's northern borders was maintained that it wasn't security there toward the right half of sellable body he lost a leg

a hand and an eye when he picked up a mine when he was thirteen years old. or saw you saw what happened with you and sometimes you. maybe it was. good because. we continue all the life of the house. you got little sympathy from the israeli government there planed him for being in an area infamous for mines but instead of hate and anger sally wants his misfortune to be a warning to others and is now drilling off will happen if thousands of people surged towards the borders later this week. very very very sad because i know in or. just just very very different from. flowers or a good life for the people it's nine months since the arab spring began and as

palestinians lobby the united nations the last of the region's old certainties are being swept away but fears in the region are growing that what happens in new york will set the stage for the next middle east crisis policy r t israel we've got more on the continuing turmoil in the arab world in just a few minutes the fight is round and it'll be down remaining supporters in the media while the west has to pay for cashing in on this which is easy in the country . the european human rights court ruled that russia acted within the law launched attacks for probate and the now defunct ordeyne you cost her her big states that there are no indications the case was politically motivated but judges also found that between two thousand and two thousand and one law school rushed the proceedings leaving the company with little time for parents' depends the freezing of his assets left you cause with no ability to operate causing its eventual

collapse you costs which is once headed by jail. with a costly. minded almost one hundred billion dollars in damages a court says it needs more evidence from both parties before ruling on that claim. and its making brief for some other world news this hour now and turkish officials fifteen people have been injured in an explosion in the center of the capital ankara eyewitnesses claim to have seen a burning canister thrown upon vehicles from a nearby building however if they are planted in one of the cars. reportedly been detained in connection with the incident the area's been sealed off with an investigation under way the residential district also houses municipal offices and the presidential palace jake is considered to have a high tariff threat that is separate is reason intensified their attacks killing over forty turks in the past and months. activists in yemen say

security forces have killed more than fifty people in the past two days during which is the anti-government protesters across the country in the capital sanaa slide is a five for a rooftop shooting among others pedestrians and those filming the violence the crackdown follows reports that the country's vice president would sign an initiative arranging the transfer of power something protesters have been calling for for months. the week of heavy rain in southwestern china as all severe flooding and landslides that of claimed at least eighty seven lives with dozens still missing floodwaters have reached new highs and millions have been forced to evacuate these rental downpours turned streets it's a muddy rivers that swept away cause toppled homes and blocked roads forecasters say more bad weather is expected in the coming days in what's already the worst rainfall in recorded history. this circus president is in berlin discussing even bishop any issues faced by sun three million so existing in germany today and

multiculturalism a debate that is one with a conscience marking a place devious and inviting in a wave of turkish workers to help boost efforts to build the palin wall looks at the changing demographics of one of the wealth ethnically diverse countries. it's the end of school for thirteen year old monica college in frankfurt germany his grandparents escape from morocco in the one nine hundred seventy s. joining a largely white german society his mother niger grew up here and she's seen things change but we had. everything was perfect we don't feel like we are emigrating now ben there i'd like. i was. after five years but i feel like things happen in the politics not just problems are at least partly down to a massive demographic change such as to show that the overall population of young

people in germany has fallen by two million in the past decade and so you cannot make a situation also a population. increase so. families for. not have as much children as we need increasingly wealthy germans see raising children whilst holding down jobs as a waste of time and money the only parts of the population that are growing immigrant communities the changes in culture and ethnicity leaving some germans feeling threatened by the islamic leaders for the islamic model of society it is very different from that in a classic german money we find that islam prevents people from properly integrating into germany for instance if we see ten year old girls being sent to school wearing headscarves we can already approved it. too late say immigrant communities arguing about immigration now is outdated and may even border on racism

here we're still have a discussion about the his that you know we are like middle age. and with a serious labor shortage looming experts say germany needs all the workers it can get to a solution for demographic problems they need other people see all need. is islam and. these teenagers from poor immigrant backgrounds are being welcomed into a new educational program called start which helps them with money and support towards their final school exams believe. is poorer than others my family was discriminated against it was a very difficult time for me now without warning so much about money i can focus on my studies and graduate from school. the demographic future of germany's difficult project but if programs like this work they could help germany accept the students

as part of its multi ethnic feature the changes in germany's population and the debate surrounding them will take many years to play out but life goes on and by the time these teenagers have children of their own it seems likely the face of society here could look rather different tom watson r.t. writes. how more stories using video is waiting for you on our website r.t. dot com here's what's online right now lethal cocktail plates error and bad weather investigators find traces of alcohol in one of the three members of the plane that crashed in northwestern gene. in the us a study finds a car crash test the fall but drug deaths. find out what's behind the switch. to libya now where forces claim they'll cross remaining resistance from the kernel

supporters within the next few days but their progress is taking three besieged cities is slowing with ground often switching hands several times throughout the day. and i said today using civilians as human shields we were libya's new ruling body the national transitional council is having trouble forming a new cabinet to disagreements among its members could happen himself been on the run for a month his whereabouts unknown and nato still engaged in the standoff citing the need to protect civilians but some analysts believe the west is it looking after its and interests. it's very hard to believe that they are getting involved militarily out of the goodness of their hearts but of course as we've seen lately there was a press conference held were very business interests were discussed and the whole purpose of that meeting was of course to make the military adventure worthwhile and to discuss business opportunities involving the rebuilding rebuilding of libya with

energy companies with telecom firms and construction companies from britain and france in a very good position to get very lucrative business deals with all three billion but the national transitional council has made it clear that it wants to reward the countries who took the lead role in backing of the rebellion but we also have seen resistance from these movements who have called for the members of the national transitional council to resign and who are making it abundantly clear that they are determined not to lead the west plunder the country's assets. in just a few minutes. the roads among the financial world's big players. is the subject with you here. thank you alex hello and welcome to business sanjay great to have you well it's the russian ruble continues to retreat against the main currencies it has met the

lowest level against the u.s. dollar in ten months the central bank says the value of their free floating ruble will be decided by the market we are living it we appreciate it actually very seriously so there is no god it's in the surgery so you know you not only what is a large amount of the most secure you've heard some of your lives it was sure you should not believe it's a limited even though it's a good head that you could use for both direction. that's really good markets right now the oil price is a balanced diet from losses in previous sessions however escalating fears over the eurozone debt crisis continue to stoke concerns of the demand light sweet is currently trading at around eighty six dollars per barrel while brant is that one hundred ten dollars a barrel european markets are trading on a positive note the sentiment is supported by speculation griese could receive the next a trunk from international creditors. the russian markets are also up the r.c.s.

is gaining point five percent while the my six is up one point eight percent this hour. and let's now have a look at the index moves on the my six is burbank is on the rise on speculation it might increase the amount of show has to be converted into depository receipts they've tricity sectors also in the positive territory beyond russia is continuing gains up so it's reported an almost sixty percent increase in net profit for the first half of the ged dixie's among the big gainers in retail sector the company's first heart profit hundred jumped more than six forward rather significantly expanded its network. russian equities may be seeing a bit of profit taking this week but michael stein at creech here believes the high oil price will continue to make commodity stocks looks promising. given the very high level of uncertainty out there word by using our clients to take advantage of the fact that the world price remains stubbornly high and also noting that the ruble has weakened a lot we like the world stocks which benefit from the high oil prices on one hand

and also impact the favorable impact of the weaker ruble another stock that merits attention right now given investors' desire to shelter themselves from the commodity price volatility is a company called old u.k. for this is a power generation company which is trading at attractive valuations it has no cash flow until he and yesterday the company released a very favorable first half an inch results showing a five percentage point improvement in the profitability at the bekaa level and also very strong top line growth. germany's siemens is quitting quitting its nuclear joint venture with the russian energy corp the engineering giant says it's now going to focus on alternative energy two years ago the companies agreed to jointly build new generation you can everyone says they expected to construct four hundred plants by twenty thirty requiring a total investment of more than one trillion euros but following the disaster in fukushima is seen as decided to phase out its nuclear power business the collapse of a tie up could put on hold on times and visions that started its international reach

. to iran have agreed to join to develop the world's largest untouched zinc lead to poor that incentive will run and it will be run by russians that will stick in a low key and the biggest part of bank of iran b.s. i analysts estimate the project to be worth up to one point two billion dollars however its implementation could be harmful as they range in buying is subject to human such. rushes the young six has expanded with a turkish version of its search engine it's opened a portal in turkish and an office in istanbul this is the first time that a normal russian speaking market companies and all some top competition as google brady has a virtual monopoly of this search market in tech. that's the business news going out of the north stories and always you know going to a website called slash business.

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