this is from moscow global media's been responding to the news that the will come to his old job as president next year he's been balanced by russia's current president to be that i'm a dad of who is now aiming to replace putin as prime minister and now he has more. the announcement itself not a very big surprise but how and when that happened some analysts are saying it was the best kept little secret in modern history of course social networks went crazy with reaction if we take a look at some of the tweets that came immediately stateside from senator john mccain not a big surprise coming from him he of course a former presidential candidate in the u.s. in two thousand and eight says surprise surprise shocking news putin is running for president and then here in russia from a presidential aide arkady dvorkovich we have nothing to be cheerful about it's better to be playing ice hockey at luzhniki that of course is the stadium where the

united russia convention took place and the announcement was made he goes on to say it's high time to switch to a sports channel i know other another tweet from katrina vanden fugal who's the editor of the nation says they did it to replace. democracy russian style not so they were going to hear from a lot of analysts whether or not this is the path to russia creating its own democracy so to say not necessarily. taking that beat the western model that we see in the united states and western europe very different reaction on the social networks and this really is just the beginning i think it's fair to say this announcement happens on the weekends to throughout this monday we're going to be hearing a lot of different analysis about what this means with your pooch and running again for president in twenty two by putting doesn't joy a slightly higher approval rating than president medvedev it's about three percent and really he is known for bringing stability to russia after the turbulent ninety's russian citizens of course very much appreciate that ricardo young from

voice of russia radio had this to say he's got to start creating jobs just like other presidents other prime ministers have to do across the globe east got to start the russian economic engine. going again reset the economy there i don't think he needs to change this point he has been very. consistent showing himself as a very strong decisive leader and he certainly has done the same with his protege obviously present a budget and this is the kind of political intelligence this is the kind of smarts that i think people respect whether the rim russia or the u.s. be shown to be very decisive very strong and has a vision for russia and i think that whether it's the u.s. or russia or any other country when you have a leader who has a vision and the strength of the people can see that so that's the individual they want an office. they did it we certainly have their work cut out for them what they need to do now is convince the russian people that it's their tandem that will take russia through the next decade and move past stability to further development.

in the program including peace. palace officials in washington bullying u.n. member states of the palestinian state to the security council gathers to discuss the issue also. of the area curfews to know about shutting down facebook social network sites. talking about dictatorial civil war measures. changes in the u.k. is the home office and the police impose a ban on marketing. leaders are preparing a rescue plan to prevent the escalation of the financial thing to send the global economy back into recession it comes as the i.m.f. has warned it may not be able to help big european economies struggling to tackle the debt over the greek default now widely considered

a matter of time the priority is to prevent the biggest states such as italy and spain being dragged greece has been hit by another wave of copy strikes against government was there are similarities vases. can reports the i'm asking is to be too tough on some countries being too soft on all the u.s. right to. why says they gather. the leadership has changed but the methods have not for a desperate economy the i.m.f. still offers the same bitter medicine of draconian budget belt tightening reeses push to redouble its austerity efforts at a time of deep economic recession and to sell a vast chunk of public assets at fire sale prices some have no choice but to cut dificid know the i.m.f. former head domenic stress collins said that forcing greece to pay back its debts would on acceptably impoverished the country and that everyone must be willing to accept losses on greek debt but feel lancer p. has never been the i.m.f.

so strong point it's an institution where my main shareholder is the united states of america well any dollar any euro that is invested in the fund goes buck. to the member principle and interest we're not in the business obsessed of subsidies we're not in the business of giving grants the u.s. and europe are holding the most votes in the organization and veto power despite the fact that emerging economies have been the engine of global growth in recent years the organization's policymaking is been under fire for being biased in favor of its top shareholders one of the functions of the i.m.f. is crisis warning and prevention but when three years ago the financial crisis in the us was sending devastating shock waves throughout the world the organization proved completely redundant in the case of united they should have taken a much stronger position warning about the build up of financial excess in the private economy. went right out the gate and then the housing bubble completely

dropped the ball and it must be able to monitor the rich. united states as well as other countries it will only lose its credibility some experts see the intimacy between the i.m.f. and u.s. corporations as a matter of concern all of the big decisions at the i.m.f. are made by the us treasury department well even the head of the world bank has accused the top advanced economies a few congress in their policies when countries with large fiscal deficits preach fiscal discipline the poor countries what are they really saying do what i say not what i do when countries pay homage to free trade but hold back developing countries with barriers what do they really say do what i say not what i do a do what i say not what i do world well fracture to the detriment of all. the old ways can and must change with the item of swell theist members themselves

facing their own problems many doubt whether the organization will be able to take adequate measures to work off possibly another global crisis as well lending money to the world's weaker economies the i.m.f. is still facing the challenge of offering viable solutions that do not come with crippling measures but one thing is clear the world demands an i.m.f. that does not work solely for the benefit of the few i'm going to check out with gordon from washington r.t. . russia's finance minister says that it all it's akhil the economic crisis countries in the west have to deal with what provoked it in the first place their consumption or all these thoughts in our interview in around twenty minutes time. because the way western countries are vital has become somewhat outdated has huge consumption and little investments and savings have provoked this crisis at this point most western countries are not ready to reduce

their consumption and preserve the pre-crisis development path from this does not lead to marriage from crisis on their consumption is not substantiated with real economic results like this consumption is putting them into debt so western countries have this issue and they're trying to resolve it by printing money which only delays the solution. we can't predict when the economic point of view of this printing of money and supporting an artificial demand will help kick start the engine of the western economy so far this is not yet happened after all what the federal reserve system is don't know we can see the situation is becoming worse as those measures have not been enough and one can expect the printing of money will resume. on the pessimistic global mood has been reflected in russia's last week's all markets suffer some of the worst losses this let's get more now of course over to our business desk where standing by for us karina so is it all really doing well

a lot not actually you know alice russia markets bounced back after a sharp losses in early trading in last week the august twelfth sixteen percent and why is it lost twelve markets affected by news that european leaders have made some progress i'll agree the size of the bailout but not how it should be funded so the european is affecting russia as well but more coming up on the market promise coming up in our business bulletin shortly. ok looking forward to seeing you then this year bit later. all the latest coverage of the type of financial situation around the globe kind of course we found on our web site any time you like policy dot com and here's a what else is online few right now dozens arrested as the protests occupy wall street in lower manhattan and their second week as police step up their attempts to bring the demos under control. and also online here finished. by his church for speaking out against one of the world's most wanted terrorists

read all about it on our t.v. dot com. the palestinian euphoria following their state tidbit at the u.n. is beginning to dampen as the security council prepares to discuss the case later today the palestinian authority given the u.n. two weeks to decide on the issue after accusations that the u.s. was intimidating member states a ball that big down of your course think the shadow of a promised american teacher also hangs heavy over the proceedings of alma's value to prevent the recognition of any palestinian state without the approval of israel mahmoud member of the west bank says negotiations on principle of one side has no interest in peace. have no the experience of the last nineteen twenty years

that there is there any reason are not serious in the go shooting with the palestinians they want to talk and they want to negotiate with those beyond the clearly see in jerusalem were. only gone through mutual understanding between both sides between the israelis and between the palestinians but the united states is also an important element because the tel aviv was. blocking the peace process in the region washington should stop its double standard policies it should also stop financing on all levels equipping is with the most sophisticated weapons. are really fed up they have been suffering for the last six they and more they want finally to achieve peace and that's why we are looking for palestinian statehood we are looking to establish

a palestinian independence state alongside is where both people live in peace and harmony together. on the struggles to contain the fallout from the palestinian bed near reports of that he secretly approved the transfer of fifty five bunker buster bombs to israel where the deal allegedly took place just months into his had been office and was something that bush had rejected fearing that israel would sell the technology off to china but according to author and historian william obama it's all about campaign funding. well the u.s. has been giving israel all manner of her. new it's not based on a larger i mean if you ask a rational explanation that is not what he is crow israel because the money he gets in the u.s. from campaign. lobbies and your virtual that's what motivates him

the only rationale here is we have to agree. about where he goes. governments granted to police the power to prevent far right groups are marching through several parts of london for thirty days so i know it says it applied for the panic the theater the violence the disorder planned by the english defense league earlier this month but it's on season or and that reports prompted consensus that a dangerous precedent has been set in terms of police power and freedom of expression . the view of workers activists on the home office ban on marching is clear it's an attack on the basic democratic rights in this country through september in six areas of london anyone marching like these people did last winter is liable to be arrested and fined or even imprisoned. the ban was prompted by plans by the anti muslim english defense league seen here in luton

in february to march through tower hamlets the area with the highest concentration of muslims in the country but instead of banning one march on one day the home office banned all marches in six bars for an entire month activist richard seymour sees a wider motive wants a bias past doesn't necessarily mean to say that march isn't going to happen it just means that the police more powers and that's part of the wider problem that if you're restricted to a static demonstration the police have a right to pen you in. a restroom very easily. with small doses or not offenses these people behind me are amongst the lucky few they still can march just by pure accident of geography we're here in lumberton which is not one of the six bars affected by the ban but if as many fear the government extend and widen the ban to take in more parts of london the scenes that you see behind me both small and large marches through london and many other cities across the

country could be a thing of the past the band comes hot on the heels of widespread rioting in many english cities in august it also coincides with the introduction of government austerity measures which some say amounts to the dismantling of the entire welfare state many say public fear of civil unrest is being manipulated to prevent unions from turning out to protest fierce cuts and pat. reagan from the workers revolutionary party says it's just the tip of the iceberg to the talking about area curfews that talk about shutting down facebook social network sites they're talking about it or your civil war measures because what they're doing in britain is creating a historic change in which inevitably. the majority of the population will oppose them the home office can only stop marching it's powerless to prevent people from

gathering but workers' organizations argue it's no good just standing there you've got to be able to march to make a statement as the unions did in march when more than a quarter of a million people turned out to protest the cuts activists say that's exactly what the government's trying to stop just in terms of where we are at the moment in this country with the process of the stereotyping pushed through by the government trade unions are one of the major box opposed to the public order legislation does tend to be used against striking workers i mean that's been very clear. there's been some recent examples of people being pulled off the picket lines and not obviously we can see any resistance to. freedom of expression and dissociation in shrine didn't u.k. and european law with the u.k. renowned for its powerful union organizations but the ban gives police the ultimate power to step in and arrest demonstrators merely for exercising their right to

speak out against the government and that's a dangerous precedent to set your ambit r.t. london. take a look at some other news to bring from around the world this hour and syrian tanks and machine guns positions have begun the bombardment of the opposition held city of standing in the west of the country reports say three people have strayed from been injured and that the army is preparing to storm the city it follows a sharp increase mounting regina sentiment around the country is syria's seeing some of its biggest protests in months president assad's rest and foreign meddling aimed at destabilizing the country. the french senate elections have taken a historic town with the left winning enough seats to gain control of the upper house is the first time that's happened for more than fifty guineas the change comes just seven months before the presidential election and as the series loads of french president nicolas sarkozy and the conservative government. to spain

now where the last scheduled bullfighting got lonely is ended in clashes between fans around the bullfight campaign as scuffles broke out there in an area in the region or rather in barcelona and also the end of a show that about bullfighting brought in by catalonia as parliament comes into effect in january after pressure from animal rights activists but many still seen. as part of the heritage want the station to say. maybe is a ruling national transitional council reportedly struggling to form a new government despising continues be the season of sept so more oil to for you to more market down feed the ongoing civil wars claimed the lives of an estimated thirty thousand people safe meanwhile in the capital tripoli a mass graves been discovered estimates to contain almost thirteen hundred bodies it's believed that the remains belong to inmates of gadhafi is top security prison abu salim the site

a massacre in one thousand nine hundred six. and we've got more on libya on our website dot com find out just how. the ministry of defense spent on bombing moammar gadhafi out of power. that they still say two people have been killed and several wounded during a shooting at the u.s. embassy complex in the afghan capital there are unconfirmed reports the attack happened in a building used by the cia an afghan employee at the embassy was reportedly behind the assault it's the latest in a string of attacks on copple taliban is that in state and athol on the same district two weeks ago leaving dozens dead and wounded and just days ago a former president and keep peace negotiator the natha they say it in his head u.s. officials are blaming pakistan for the thirty minutes an attack spends on the minute she countries i think washington just doesn't want to admit it's a symbol. during the latest u.s.

senate's armed services committee testimony admiral mullen the new u.s. secretary of defense jointly accuse the pakistani military and specifically the pakistani intelligence so i in the connivance and complicity in orchestrating the hakani network attack against the united states embassy in afghanistan there was nothing new in this accusations and allegations except that there is been hearing them for almost ten years the american intelligence leadership has completely lost the dynamics of the overall picture of clear and present danger to the interests of the united states in the region specifically in afghanistan and pakistan in the last decade the us foreign policy in pakistan has suffered

a total and complete moral but it's mixture of threats and and complaints. and financial incentives turned out to be totally counterproductive and personally it has made the highly respected flag officer admiral michael mullen and his new boss leon panetta one of the most popular laughing stocks and scapegoats of the u.s. failure in afghanistan. ok curious here now with the latest business news this monday afternoon. welcome to our business update the south thanks for joining me russian markets a bouncing back of the shop falls in the first hour of trade just in the news that i hope will be making another bit of russia's presidency and that could ring could

be stepping down as finance minister globally european leaders have made progress agreeing the size of the bailout but critically not know how it should be funded peed all over is that the us has stock exchange for us. after a relatively slow start to trading on monday both the are to guess and my six have started to regain some of the ground they lost last week when both markets took a bit of a hit now that was a knock on effect for some do me a growth predictions coming out of the united states also the ongoing debt crisis in the eurozone now there was a meeting of eurozone finance chiefs over the weekend but all that did was really throw up more questions than answers they did say though that it could take almost two trillion euros to bailout the debt riddled countries in the eurozone so all of this coming together to leave the markets extremely volatile at the moment you throw into the mix the big news from russia vladimir putin will run for the

presidency in twenty twelve days spines minister alexy put that in may step down and it's quite difficult at the minute to see just how much of an impact that will have on the markets right now. they are certainty in the financial markets has made cash king even the traditional safe haven ass and gold is down fifteen percent from its recent take and one point on monday at had lost one hundred dollars although it's since bounced back meanwhile silver has lost more than a quarter of its value in just three sessions now to discuss what's going on on precious metals i'm joined by senior trade at t.-x. capital thank you for joining us so gold is supposed to be a safe haven yet it's falling even as the national side it is rising it's going on . wall is it's a safe haven. is there versus risk but what we've seen recently with gold is a fantastic run to the upside is trying to that nineteen hundred dollar levels twice and as it got to the trade became increasingly overcrowded so you had

individual investors and. individual investors larger trading houses investment banks and sovereign nations all piling into the same time and. they did it because it is very little supply left it would certainly demand left. column levels and therefore we saw you see a pullback in the in the price also exchanges of increase the margin required. deposit required to hold gold so this seems to be a short sharp selloff and is in line with what we're seeing elsewhere in the markets as well we're seeing a fall in the price of commodities in general in the price of copper so we're seeing a bit of a pullback it's had a very sharp fall today but that brings it down to realty oversold levels and we could see some buying interest coming in we certainly have seen some buying interest coming in this morning but you could be short lived now now how convinced is the market in london that you obsolete us can find the funding for the much

bigger bailout package which could be as much as three trillion euros. well i don't think the markets are you convinced we rallied on friday late on friday expecting some sort of announcement from from the e.u. struck i.m.f. over the weekend we didn't get that and what we have seen is a lot of words no decisive action and the longer they leave it the more volatile the markets are likely to get and we're entering that period of the whereby volatility increases quite sharply you tend to see in october a shot falls in equity prices and if there's north resolution to the european debt crisis then we could see further falls. but if you can't hammer out say a robust they are package would you expect gold to fall further. gold could certainly fall further because. as i mentioned before it has become relatively crowded and traders are now looking at the rewards versus the risk and if there's limited upside to be had in gold and they're looking at other other asset classes

as a possibility for safe haven what we have seen recently is investors switching out of the gold and into the dollar which as we all know has been pounded and pounded over the last few months or so certainly on the back of increased amount of. quantity of easing stimulus spending but now the dollar seems to be outperforming the other currencies certainly last month or so now we could find that that is a trend that continues over the next few weeks so what's your forecast for the gold price from here. well fifteen hundred seems to be a fairly good level for gold that's where the previous move all the noisy hundred started off from so i expected back down to fifteen hundred we traded very close to that level first thing this morning and you could find some support there but then if we see another move up we could give investors the chance to offload for the long positions and we could see more selling coming into the markets and back to

the fifteen hundred they knew they knew looking at twelve hundred dollars certainly if they cannot make numbers in the economic situation begins to improve and you start to be contained then we could see the safe haven also gold becoming less so but what about so why is silver doing worse than gold. will silver traditionally is a more volatile asset seen it trading very quickly up to fifty dollars in last few months very quickly back down again and it doesn't have that same sort of status as gold and it has more of an industrial use but then you track more speculative interest in silver as well so you're seeing wald movements of the upside very quickly back down again as well and you tend to find the silver when it goes quiet will go quiet for a sustained period of time but when it breaks it will break with increased volatility and you could find these wall moves become become more common go forward ok thank you very much manoj ladwa senior trader at e x carol thanks very much for that update now let's take

a look at the markets russian stocks and bouncing back strongly from earlier losses r.t.s. point seven percent and rising gaining more than two percent this hour. that's all the time we have for this hour but i'll be back with more in about forty five minutes from.

this is kremlin come. to the news the running for the russian president see again next year would be the. place in his head if the government is skeptical about the move to continue to enjoy strong approval ratings among the russian people. on freedom of expression in the u.k. is a good start president said. the police say was required to prevent the. european leaders. stave off a double dip recession on the prospect of greek default while the i.m.f. warns it may not be able to help.