from the two thousand and eight financial crisis by the end of this year this is the twenty minutes. ten pm in moscow i match reza good to have you with us here on r t our top story the shout the showdown over palestinian statehood set to dominate the u.n. general assembly and play out on the streets of new york the majority of the international community including russia is ready to support the bid but the u.s. says a palestinian state could only be achieved through talks with israel for more on this we're joined live from new york by artie's marino portnoy. good to have you with us so with more talks expected of the sidelines of the u.n. general assembly over the palestinian statehood bid where does the issue stand at this point marina. well at this point the palestinians show no sign of backing down from their campaign for you and membership this is despite

tremendous pressure coming from the united states u.s. president barack obama addressed the general assembly a few hours ago and said that peace in the middle east cannot come through stick through statements or through resolutions from the united nations he said instead the united nations all members should be encouraging the palestinians and the israelis to get back to the negotiating table what we do know as we've reported is that the majority of countries at the u.n. are supporting the palestinian bid for statehood and that includes russia the u.s. has threatened and said it would use its veto power in the security council to prevent the membership from going through russia's foreign minister sergei lavrov said of course would be better to get both parties back to the table together to negotiate but the u.s. should not use its veto to prevent the aspirations of the palestinians or any other country now out on the streets of new york city we did see and have seen a lot of palestinian supporters demonstrating on their behalf right now this is

a story that's dominating not only new york not only the u.s. but it's making international headlines in the u.s. is in a position where it could be seen as not standing by its words if it uses veto against palestinian un membership but what else over the next twenty four hours in new york could have an impact on the palestinian. well twenty next twenty four hours is a pretty big deal we have seen that u.s. president barack obama has met with israeli prime minister benjamin netanyahu for a bilateral meeting also underscoring the fact that the palestinians and the israelis need to get back to the table and need to begin negotiating again obama did also say that the bond between america and israel is on breakable that also. symbolizing the fact that the u.s. will use its veto power but the u.s. president is meeting with palestinian president mahmoud abbas in just a few hours that was

a meeting that was not scheduled before last night or before tuesday so that is an urgent meeting that was put together the u.s. is clearly trying to get the palestinians to to back down in some way or stalled this campaign for statehood and u.n. membership so we do see that a lot of diplomatic effort is taking place on the sidelines of the u.n. g.a. if the u.s. will succeed it's not sure because the palestinians do have the majority of the sport of from the international community right artie's marine important ally for us in new york thanks for that report. thousands of palestinians are marching across the west bank to support their leaders move to win recognition for their state at the u.n. there's an atmosphere of jubilance as government services and schools were closed to allow people to go out onto the streets and demonstrate or his policy was more. it's being high so it's right across the west bank is this to make sure that some twenty thousand people have taken to the space of what might let people took off work the schools closed early and many of the businesses shut down on standing and

all manav which is really the focal point of the mind there and in this area the businesses the shops of the restaurants have been opened so that people can really celebrate what is almost a clone of the atmosphere now this does kick start three days of peaceful demonstrations of the palestinians and the start says they will be folding in the run up to the palestinian president mahmoud abbas making their first on friday for statehood at the united nations we've seen some of that such celebrations across the west bank in hebron there were an estimated seventeen thousand people turning out for the parties in qana bills today some similar scenes unfolding in bethlehem and in nablus they wanted to isolated incidents of violence that did change it will have peace that the potential to modern day one in kalandia checkpoint not far from here it was also a little bit of violence in hebron the both of those have been built under control and the people i've been talking to say that not only do they have a commitment to holding peaceful demonstrations but certainly they have a commitment to making sure that this historic moment on the world stage is seen

and felt by everyone in the international community for the israeli army certainly has been preparing for violence but what many say is that the most in the corporation it's almost encouraging if one can say that the violence has happened the simple montes way the army has been undergoing an operation called operation some esteem and this is all this fear that these peaceful demonstrations that the palestinians say they will fold could erupt into stained into violence but their eyes not only on the palestinians the israeli army also has the i meet roughly half of many an israeli state is just yesterday there were a number of demonstrations by israeli states across the west bank in the fifty's themselves adamant that they will not allow the palestinians to do what they say take over days and now we are hearing initial rumors that some kind of deal has been. struck behind the scenes we do not have confirmation that we do not have the details of the gate but what we do understand is that the palestinian president mahmoud abbas might on friday the hill making his bid for statehood but instead of

asking for the vote to happen at the same time he might delay that until potentially sometime next year if indeed this is the case it means that america can and is waiting on the palestinians has come to basically close certainly extend. more perspective on this i'm joined by ron is hebrew the editor of the online middle east newspaper palestine chronicle joining us live from seattle thanks for being with us so when we're nearing friday when mahmoud abbas is presenting his the palestinian bid at the u.n. what do you think will happen. well of course there are various scenarios here and the leading scenario among them is that the u.s. is going to veto the palestinian attempt at trying to exact a recognition of the palestinian state from the security council this is kind of a foretold conclusion really the challenge for palestinians is not the first say the challenge is to remove really the palestine file from that of

the u.s. supposedly as an honest broker in this process and to put it into the international arena if they succeed in doing so they are going to deprive the united states from of from having the absolute and sole control over the fate of the arab israeli conflict but at the same time if there is a mediator in this process they are going to be on one side or the other i mean the u.s. has come out in support for israel but if someone else is a mediator here and they've already stated their support for the palestinians doesn't that also stack the deck the other way not at all actually the palestinians are not expecting a third party to be on their side you have clear you and resolutions that have been passing for the last sixty three years and they have a very clear vision and understanding of how they are of israelis conflict should be a result of what palestinians need is to go back to the u.n. and say we need a third party that would adhere to that frame of reference and the frame of

reference the numerous you are delusional with the security council or general assembly resolutions that states this is this is the road map out of this conflict it should not be the diktats of american foreign policy it should not be the dictate of the israeli lobby in washington d.c. or it should not have been on that the history of a right wing government in tel aviv it should have been in accordance with international law and this is what palestinians are hoping to achieve do you think there's a chance palestinians will agree to president sarkozy's peace time wide in a final deal with israel next year known. that's all i think what sarkozy is trying to do here is to present himself as someone who's standing at the equal distance between the palestinians and israelis this is really an old trick and the europeans have done it for many years and it did not lead to anything it did not yield to the palestinians even one inch of historic palestine or the you'll be ok by territories so really going down that road is not going to get them anything back. the u.s. has promised to veto the palestinian bid and they're saying that israeli security

can only be achieved through negotiations now with rockets fired from gaza terror attacks on israeli soil how are justified do you think or the u.s. concerns for israeli security. if there hasn't been really any suicide bombing in israel for years and years the latest terror attack happened supposedly from from egypt what has been going on is the rocket fire that killed about five six israelis for the last ten years one on the other hand you've had thousands of palestinians being killed and wounded as a result of israeli attacks on gaza and elsewhere in the west bank so if anybody is security should be honored is the security of the palestinians the occupied the oppressed party not to not to too much emphasis on the security of israelis as it palestinians do not exist in that process or you see the rallies in support of the palestinian bid in the west bank and new york do you think that these demonstrations will turn violent if either side isn't going to be satisfied with the outcome of the u.n.

vote or you don't see that happening the fact that we are going to the united nations indicates that palestinians are seeking a very peaceful way out of this what we are saying is let international law be the judge that the international court of justice let the general assembly be the judge you can't be any more pacifist really than that so to expect palestinians to use violence as a way to exact mission from the united nations it just doesn't seem to make any sense at all right around here bert editor of the middle east newspaper palestine chronicle live in seattle thank you. the u.s. is in israel's big supporter in the un and its back for the arab spring frenzy its main middle east ally to leave it in isolation america got behind the muslim movements for democracy but the new regime in egypt has left israel picking up the pieces of broken relations artie's and he said no way has more from cairo. democracy has a price the people of egypt have spoken. their voices have been heard and egypt

will never be the same and the new egypt embraced as a positive example of change in the arab world by the west is not the only one paying. the bring us you know doing good your time there was a bit of security but now there's less security on the streets israel has also been left hanging a slow road to stability in neighboring egypt mixed with the massively unpopular israeli foreign policy makes a dangerous cocktail. that pace for change towards those disputation was very slow so you had a lot of frustration on one side and then you had a lot of anger that. exacerbated after the killing of the five protection soldiers on the intensity by israeli gunfire. shaking up the situation even further the recent attack on the israeli embassy in cairo protesters threw stones and stormed the building as military police stood by and watched for hours three

demonstrators were killed and over a thousand injured. michel that still this situation can get worse for israel not for us who are just starting to get stronger this is not a negative thing for us but a plus. for the protester who took down the israeli flag at the embassy in august was hailed as egypt's new super hero flagman. was then built to protect the embassy but completely destroyed by protesters. this is what remains on that wall but ever come up behind our report card show emergency all is now being enforced here in egypt suffocating it's already served freedom and in the region the u.s. is strongest ally in the security threats as this new democracy is stuck in a spiral of uncertainty instability and sometimes chaos. benyamin netanyahu called the incident a near disaster being averted might have

a lot more work to do to avoid catastrophe in the future is really should worry about look at what's happening in to get egypt two very important states in the area which used to have not only peace but friendship with israel today be at odds with israel and its number one friend seems to be having trouble keeping a balance when it comes to promoting arab democracy and protecting israel security it must occur to netanyahu and others at this point that certainly be americans are holding the says and have all the cards up their sleeve so so i think that is something that must weigh heavily on on israel at this point because when it comes down to it the u.s. tends to protect one thing in the end the basic problem you know i think with americans and with the western civilization kennington or old the way they're handling things is that it's become too much about interests not not really about humanity or about anything else it's really become about interests and when

interest is the main driver that things become messy and egypt could become a mass that israel will have to live with and he's now a r t cairo. stay with us here on our team plenty more coming your way including the tough life of an afghan junkie a look at how almost every family living in the world's biggest producer of opiates is dealing with the scourge of narcotics. but first the international monetary fund has issued a. grave warning for the global financial outlook the most severe since two thousand and eight the lending giant is pessimistic over world growth unless the u.s. and euro zone lawmakers act quickly meanwhile a greek official has announced the country is wrapping up budget cuts and planning to suspend more civil servants to secure a vital i.m.f. and cash they have without the eight billion euro bailout the country will default next month this as the european commission inspectors plan to return to athens to assess the progress in reducing debt for more on this we're joined by patrick young

executive director of the investment advisory firm devi advisors thanks for joining us so the international monetary fund thinks the current financial situation hasn't been seen like this since the recession of two thousand and eight how bad do you think it is oh it's absolutely easily as bad as the i.m.f. say one of the problems we have is that the i.m.f. if anything more prone to optimism there for them coming out today and telling us that european banks need another four hundred billion dollars really means they need probably at least half a trillion dollars five hundred billion and i mean even for a hard financier like me that's a lot of money so greece is playing to push even more austerity measures on its people with this latest set of cuts managed to stick to kick start that country's economy. no the problem here we have is that actually greece is now in such a debt spiral that it's really well it's like one of those world war one if the

asian films that we've all seen where when they get the tale of the fighter suddenly he goes down in flames firing into the ground and unfortunately there's nothing the greeks can do at the moment until they've had a really really gruesome economic shock if they're going to maintain themselves in the euro and i personally don't know that they really can maintain themselves in the euro because i don't think the greek people are prepared for the fall in their cost of everything in the book that the overall standard of living because it's absolutely horrific and says it has enough money on hand to last till mid october no more why do you think euro zone leaders are holding on to the ballot cash if it wants the euro to survive. well look the problem we have here much is absolutely not political and the i.m.f. actually talks about it today it notes the fact that we've gone beyond a sovereign debt crisis now we have a political crisis the leaders of france and germany are looking over their shoulders to see what's happening amongst their voters and the truth is that voters

particularly in german germany are fed up by bailing on the greeks something don't want to pay for all their debtor nations so therefore the germans and the french are playing politics by trying to look tough all of a sudden when they've actually been late to the party throughout the course of the last eighteen months since this whole crisis has been developing has done to another country now italy has been downgraded by standard and poor's and it's been a recently trying to get help and cash from china do you think that's a solution well you know italy has a longstanding history of rushing towards other donor nations i mean that used to get a lot of money out of it really both for their industrial companies and the government during the one nine hundred seventy s. and eighty's running i think to china demonstrates to us just how the world has tilted the truth is we are on the verge of seeing and witnessing in our lifetime the death of the west as a prosperous economic entity they've been in the ascendant for five hundred years and noise after two hundred fifty years of basically being at the absolute peak of

their powers we see a situation where italy is crashing and burning it too has no tangible political leadership silvio berlusconi unfortunately has ended up looking like a liability in office and the people are rest of they're not willing to take the cuts that they need to balance the budget but at the same time is that one of the death of the western economy a little bit premature because during the eighty's everyone was saying oh my god japan japan and now japan is in dire economic straits it's having its lost decade could we possibly see that with china too that's a brilliant point i would agree with you i don't think china has reached in any way the point where we're. going to see that china is the new dominant power what we're seeing though is that if we take the east as a whole and that includes russia even the new europe of eastern europe as well as indeed india and china those are the countries in the ascendant but actually to look at the whole concept on a broader basis of what's happening at the moment in the economy one of the biggest

worries is actually the elephant in the room is actually china because china has a huge asset bubble its property market has gone through the roof it's had an incredible explosion in lending in the course of the last two years to try and keep the economy growing and i actually think that china is on the verge of a recession as well so it's not if you take out the fact that china goes into recession the united states of america is flatlining western europe is basically headed back into a recession whether it's actually ever come out of recession is in fact a moot point this is not good for the world economy and that's essentially what the i.m.f. has been saying today there is a major problem for the economies of the west right now on the chinese economic outlook doesn't look particularly much better and therefore there are relative few always sees where we hope that things are going to hang together possibly in australia and certainly in places i think like parts of eastern europe and russia right unfortunately have to leave it there will wait and see what happens next

patrick young executive director of the investment advisory firm davey advisors thanks for a perfect. hundreds have gathered in kabul to mourn the assassination of former afghan president burhanuddin rabbani the key figure in current peace talks with the taliban was killed at home by a suicide bomber who had explosives hidden in his turban a special ceremony will be held at the presidential palace before his body is brought to his home province in the northeast the killing was the latest in a string of high profile assassinations including the murder of president karzai his half brother in july much of the violence has been carried out by the taliban used by income from the drug trade which is flourishing afghanistan is the source of the vast majority of the world's heroin critics say nato has turned a blind eye over the ten years it's been in the country because of reports from kabul where drug use is rampant. penalty for drinking beer in kabul is sixty whips on the back publicly it is

a very traditional muslim society or is it there are dozens of people if not more for doing drugs right there under this bridge in the center of the city with the office coming and staring at them and all these insane conditions we still rubbish being thrown right here where we're standing right now this is just incredible seacat heroin opium marijuana it's all cooked mixed injected or smoked all right i'm on these piles of rubbish the rotten meat and an indescribable room and not one policeman anywhere near but that's not all we were told these people don't just come here to do drugs many of them told us home pakistan and you know you can hear we don't have any job we don't have any editing to do if you can't pay for the war or that had a chance to help us a study commissioned by the u.s. state department shows each family has at least

a one drug user all bits are now found in breast milk and all kids even newborns have morphine in their blood there's no doubt that the area of plantation some with narcotic crops has increased since military hostilities tartars afghanistan i believe that the war was the root cause that forced afghan people to turn to poppy growing their own ninety percent of all the opiates in the world are produced in afghanistan interval cleans the markets global trade turnover has long surpassed the five hundred billion dollar mark or russia is one of the worst affected states where the around eighty tons of heroin start to a newly settle in the country that i hear those it's tragic that despite the enormous resources nato has put into afghanistan including military force drug production is just phenomenal moreover the head of nato military committee personally told me for. drug production is not that there was no such directive. many experts find this a bit strange given the fact that

a large part of the revenues from drug money is used to sponsor the taliban nato is key enemy in the region meanwhile the international community and spends billions of dollars to fight of ghana's stands drug traffic but since nato has no legal right to coordinate the funds are spent with very little positive results while officials say the multi-billion dollar afghan drug network has the whole world and is a group. of. afghanistan. with a business update stay with us here on r.t. . thanks that's right time to get the latest from the world of business while many european countries are struggling to contain the deficit's russia is set to have a balanced budget this year in addition the finance minister of russia says inflation will be a record low seven percent and in terms of growth alexy could turn predicts russia

will have fully recovered from the two thousand and eight financial crisis by the end of this year. russia's g.d.p. will reach pre-crisis levels by the end of this year but state budget ribbon news will return to pre-crisis levels only in about three years that's following a cut in texas and low incomes in the energy sector despite total procedures but we have no doubt that this year the budget will be met for the first time we will not be running a deficit. let's have a quick look at the markets oil prices a mixed as the market was torn between crowing expectations of moves to miller's measures from the u.s. federal reserve and gloomy i.m.f. growth provisions which is currently traded after around eight to seven dollars per barrel while brant is that one hundred twelve dollars. and you have stocks a little change so far as investors are still awaiting a federal reserve announcement that may signal more stimulus for the world's largest economy under a new europe the markets finished on the road with banks leading the declines

investors were cautious after wall street gave up this rally and as the greek debt crisis lingers on traders we're also awaiting the outcome of the u.s. federal reserve meeting later today as you know widely expected to deliver some new stimulus for the u.s. economy and finally here in russia the markets slipped into negative territory at the close of play the r.t.s. was down zero point one percent while the mice its last point eight percent total look at some of the individual share moves in the my its oil majors with down at the closed gas pump. one snapped last and two percent on the news the company is discussing the possibility of building a joint oil refinery in russia with china scene of. trading lower after a hike and pipeline transportation costs for gas for independent producers. that it's right for us. so they were. to do everybody is.

more waiting for for the rule of decision people generally serve the pollutions very attractive but the row over stalks. also stokes. nobody is sure about the timing. of this stage presence the buying could produce a longer term year to year. what would happen over the next three to six months remains the subject to be consumed. most people in my opinion which is sitting on cash going for a little p.p.s. problems in russia have just gotten a little worse the minority shareholders in the company's russian venture to and key b.p. have doubled their compensation claim for b.p. as attempt to form an alliance with all snipped they now want five billion dollars they put this down to a clear understanding of the damage caused by b.p.'s failed bitch just walk shares

and explore the arctic with doorstepped the minority shareholders claim people lost potential income by being locked out of the deal with russia's biggest oil farm the first court hearing is set to happen in early october. that wraps up the business bulletin for more stories you can head to our website r.t. dot com slash business.

culture is that so much of a given to each musician our entire tax code the defense of turkey and the maybe geopolitical order of the middle east and the arab world is ankara making a bid to play the role of a regional hedge of mine on the back of. the old german for the future of the weapons grade plutonium is turned into a vital new resource nuclear waste becomes a fuel friendly to the environment and energy outposts in light of the ends of the earth russian scientists lead the way in making these innovations a reality the engine of future free from fears of nuclear bomb calypso the peaceful revolution in comic energy on technology update we've got the future covered. fifty. five.

ten thirty pm in moscow these iraqi headlines thousands of jubilant palestinians pour into the streets of the west bank supporting a bid for statehood at the u.n. and government services and schools were closed so people could participate in the demonstrations. a standoff over palestinian sovereignty brewing at the un general assembly support for palestine could clash with the veto holding u.s. which is pushing for a relaunch of peace talks between palestinians and israelis. heroes own teeters under its piling debts with greece trying to speed up cuts before european commission inspectors descend the i.m.f. meanwhile is warning global finances are now more vulnerable than at any point since two thousand and eight. as palestine's bid for statehood at the u.n. looms closer the.