the breaking news in the last few minutes russia's finance minister has resigned it's the first fallout from the planned switch at the top of russian politics out of the twenty twelve presidential election to further sit on these details as the coming through here in this and now is across what's happening either unless a very rapid developments the last fifteen minutes or so take us through what's happened as you know it. well of course we had the big news over the weekend that pledge to me to put in we'll be running for president in twenty trial but he wants our president meets with it to become his prime minister comments made by finance minister elect seek to do and in relation to that not happy president betrayed about what he said what he said was he doesn't see himself as part of it it is government if it becomes the president like i said some very harsh words this is the exchange that happened earlier today when you put pressure on the finance minister to step down and of course that has now happened. that we should if you think your views on russia's economic agenda differ from mine as president you can

resign but you have to answer right here and now are you going to resign. or what's the. bush just have my opinions do differ from yours but only take such a decision after i've talked to the prime minister listen to so this has been the most observers you can talk to whoever you want including the prime minister but as long as i'm the president i make these decisions you have to decide very quickly and give me an answer today if you reconsider the differences you're talking about all if these differences do exist which you know whether waiting for you to resign although this would be an unpleasant outcome would be a was a deal with the finance minister alexei kudrin we can now say former view handed in officially his resignation it's now been signed by president putin. we know now the last fifteen minutes has made his mind earlier on the last couple of hours it was thought the my do this after that showdown we saw there what's the world been saying about this potential jobs for at the top of the news was coming through.

well that swap of course was tremendous news over the weekend global reaction to its heart has been mixed as well as russian reaction as you can see from what's all developing with the former finance minister alexis you're in in terms of the western media not really much of a surprise there a lot of criticism about the situation and of course social media networks are just a buzz with this news that lady mary continued would run for president and that president medvedev would then become the prime minister and lead the party through the parliamentary elections the party of course knighted russia russia's ruling party if you take a look at twitter stateside it from a u.s. senator john mccain known for his anti hooten frederick says surprise surprise shocking new spooky will be running for president again and then just to give you an idea of some of the russian tweets from the presidential aide himself our cards were called which always presidents may do he wrote nothing to be cheerful about it's better to play ice hockey at the luzhniki stadium that of course is where the

big announcement was made or he goes on to say it's high time to switch to a sports channel up but with that said it's no secret that most of the russian population does very much support united russia and both a president needs to do that and prime minister putin who to force is known to bring stability to the country in vast what this platform is now going to be about moving past that stability towards further development still some work to do united russia's ratings for when in recent years so they still have to to convince the country that they are in fact the ones this tandem a lot of experts say that it works some critics say that it doesn't is really up to the russian people when it comes down to it imo certainly if you come out onto the streets of at least moscow people who say that they are pretty much very securely behind the scenes as of ok they're summersaults right so what could happen this potential pm presents for public let's get some more reaction time so. for now let's get some more reaction to this breaking news in the last couple of minutes

ago. so the fact that the finance minister has left the scene or is about to leave the scene gives me what effect that's how the russian stock market was at the business desk. i guess. over this news we've got for us. carol news of finance minister alexei kudrin resignation is of course bad news for the russian stock markets and of course the ruble and departure is regarded by many analysts as a severe blow to the country's investor sentiment this country was considered to be a rock of stability for the business community or for all the world and also could really is highly respected by both domestic and european businessmen but we can say that the markets were slightly retreating from there. they started to lose some ground heading to the close and my six close to one point five percent while there . was flat to negative we'll see more reaction from the markets as they reopen on

monday of course all right you have a. business bulletin in about fifteen minutes time thank you. eurozone leaders working against the clock to set up an extensive rescue plan for the region to head off from plunging the global economy into a new recession the idea now is to apparently boost the size of the eurozone bailout fund to two trillion euros but the i.m.f. warned it may not be able to help out the big e.u. three and economies leaders are also planning to write off half of greece's staggering debt but analysts say default is still on the cards greece has been hit by another wave of public protests against public cuts but the priority now is to prevent the so-called too big to fail countries we talk in italy and spain immediately from being dragged and as art is gone h. a can reports the global lender the i.m.f. is being accused of this proportion of policies. 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. for my hand dominique strauss kahn said there forcing greece to pay back its debts would unacceptably 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. strongpoint 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 principal 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 u.s. was sending devastating shock waves throughout the world the organization proved completely we've done didn't get in the case of united states the i.m.f. should have taken a much stronger position warning about the build up of financial excess in the private economy that went right out the gate and then the housing bubble completely dropped the ball and less. able to monitor the rich. united states as well as other countries it will open 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 u.s. treasury department well even the head of the world bank has accused the top advanced economies if you caucus 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 will fracture to the detriment of all. the always clear in must change with the i.m.f. swankiest members themselves facing their own problems any doubt whether the organization will be able to take adequate measures to work off possibly another global crisis as for lending money to the world's weak earth hanuman's the i.m.f. the still facing the challenge of offering viable solutions that do not come with crippling measure it's the one thing is clear the world demands an i.m.f. that does not work so all the for the benefit of the few i'm going to check out with what inform our party. for no matter how you look at it is not resting on

a let's get more views from british david campbell bannerman miss campbell brown a month thank you for being an hour to international now if what we're hearing is correct the eurozone leaders are cooking up this big rescue plan for let's face it a huge problem but will it be the remedy to cure the illness well waiting a lot of the deter of this plan. to draw a trillion dollar or two trillion euro. talking about which is a massive amounts of money i think the whole purpose of this actually is to try and stop the contagion if greece does default of everyone's dot org and terms of that actually happening or half defaulting which is fifty percent of the you know they want to try and stop that hitting spain and italy then the larger economy which would cause a lot more damage you know i mean can they breathe a bit easier spain and italy tonight knowing that potentially this big bailouts on the way does it make their position any more tenable. well i as again we have to

look at the detail of it because if it's coming from e.u. countries rather than the i.m.f. then already one hundred billion euro bailout fund for greece at the moment is heading problems in finland and so of the. of course germany you know merkel's own party in c.d.p. has been massacred in local elections and her part of the f.t.p. as well so the political cost of this is going up an arm and then maybe that just isn't politically palatable to get such a package through but it's coming from the i.m.f. that's a different ball game because you get in countries that are not in the e.u. including britain we have four point five percent liability countries outside the you could see there assists this fun but it's not clear the stage exactly where of the funds would come from let's focus it on greece then so the half we think maybe of greece's debt could be written off as part of this plan if it goes through how much of this those about saving french and german banks who are owed

a fortune by greece rather than actually saving greece itself. well the world is very interconnected it which is why this is all happening in the banking sector particularly is very interconnected as you say i think french banks in particular are very exposed to greek i think i've seen a figure of forty five percent of greek debt actually being due to french banks so there is concern about the knock on effects to those banks in france and elsewhere of course it hits french banks it hits all the pot banks around the world we're very interconnected and so yes there is real concern here david the i.m.f. and so many other people put of the string see we hear consciously constantly say that the way or the dead is more and more public cuts but is that a recipe for disaster is it really the way forward. well as a service think what's happening is democracy is reasserting itself a lot of countries are saying no you're getting real trouble on the streets of greece the cia actually prophesies now that agree

a military government in greece is a possibility god forbid. there are serious political movements in spain amongst young people in italy i think the democratic price of yet more is potentially too great and that actually takes us really to the edge when it comes to the euro is a very serious situation this is the move in the right direction to stabilize things but democracy may just not have it david campbell bannerman pretty sure m.p. thanks ever so much being on the line give us your thoughts about this very big ongoing story tonight thank you. this is r.t. from moscow coming up in the program with me kevin no in arming israel what proved too much for president bush was no problem for a barber look into why america's current leader had no trouble signing off a supply of bunker busters to tell of the that subsume also to protect and to subdue british police powers to blanket marches and damages riot paranoia leads

to a rollback in the rights of expression we don't report for you from london in just a few minutes time. before that we've seen palestinians optimism over the un statehood bid in the last week but now they'll have to play the waiting game with the security council considers the proposal the organizations expected to study the request for several weeks. across the latest new york for you. it's no secret that the united states has promised to veto the palestinian bid for u.n. membership and state but nonetheless palestinian president mahmoud abbas made history on friday submitting an application for palestinian statehood and the security council house to consider that application and that as you mentioned is a process that is beginning today security council members will meet for closed door consultations that's a process that can last for weeks we do know that there are six security council

members that have already thrown their weight behind the palestinian bid needs to be nine out of fifteen security council members to approve it for it to pass but we do know that the u.s. said that they would wield their veto if they have to now washington doesn't really want to be put in a position to do this because its credibility and influence in the middle east is that stake and that is why the obama administration worked tirelessly all last week to try to convince the palestinian leader to not present the op with his application for u.n. membership and statehood now there is another option if this fails in the security council there can be a vote in the general assembly the majority of u.n. members do support the palestinian campaign for membership and statehood at the u.n. it would elevate palestine to nonmember observer status and that would allow palestine

to join and participate in many forums and file lawsuits with the international criminal court president mahmoud abbas said he will only return to the negotiation table if israel halts settlement construction and accept the nineteen sixty seven lines on a basis for talks those guidelines were not put out by the middle east quartet and as a result of that and israel has not has not stopped or. halted but building settlements as a result of that president abbas said there is no point doing business as usual this has been a process that has lasted for nearly two decades so at this point it doesn't look like the palestinians are being very receptive to the middle east force quartet statement that allowed both parties to go back to negotiation table within one month and then have everything settled within one year right now all eyes are on the u.n. to see if the palestinian bid for u.n.

membership and statehood will or will in essence go through we're following that story closely of course for you that was one important i with all the latest from new york where the u.n. security council's preparing to discuss the palestinian statehood bid. as president obama struggles to contain the fallout from the palestinian bid reports of merge which claim that he secretly approved the transfer of fifty five high tech bunker buster bombs to israel and apparently months after he took office earlier been rejected by president bush to fit israel could sell the technology to china but the story of william blue told me for a bomber it's a way to secure a vital campaign funds well the u.s. has been giving israel. this is nothing new it's not based on the larger community as a rational explanation but it's not what he go the. course of money he got in the us a few years of working with your lobbies and your diversion that's one more. rationale

here's how you agree. to go. people of britain of long been able to march in protest but those voices are being silenced now in parts of london for an entire month the government is letting police slap a blanket ban on public gatherings in some areas no for certain is putting freedom of expression under threat therefore as that is the founder. 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 once the ban is passed it 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 but if you're restricted to a static demonstration the police have a right to pen you in. a restroom very. small doses or none of 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 battle 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 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 a stereotypical pushed through by the government trade unions are one of the major box opposed no public order legislation does tend to be used against striking workers something that's been very clear. there's been some recent examples of that people being pulled off the picket lines. 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 emmett's r.t. london. more hard hitting news an exclusive stories available around the clock on a website called this is what we got lined up for you tonight to discover britain's estimated to have racked up a whopping two point seven billion dollars. a year seventy five small loan players and i want to know exactly how much the military shelling out more about online if you're interested also for the takeover. genius high tech technology meet russia's state of the art digging machines going up into space there is a probe that will go on a major mission to dig around one of mars is moons to reveal the secrets of its soil again and if that catches your fancy tonight's it artsy dot com don't forget as well head for you tube channel for more admissible stories to. elsewhere around the world tonight small news in brief to syria first with a crackdown on protests continue in a seven month regime demonstrations tanks have now begun bombarding the strategic

opposition city of a star and in the west of the country it's injured at least three people according to latest reports according to the u.n. more than two thousand seven hundred people have died in the ongoing violence since it started and battle president bashar al assad continues to blame terrorist groups for the chaos while insisting security forces are protecting the people. the first african woman to win the nobel peace prize has died while undergoing cancer treatment when garley mouth founded the green belt movement that saw millions of trees planted across the continent she also campaigned for democracy human rights and in particular the rights of women math i was elected an m.p. in two thousand and two and served as a minister in the kenyan government she was seventy one. and you could argue fighters have entered the colonel's hometown now is the three day long assault continues serves lies between the capital and the eastern city of benghazi both now held by the national transitional council and it is one of the most stubborn

strongholds for gadhafi loyalists meantime a mass grave has been discovered in tripoli estimated to contain almost thirteen hundred bodies it's believed that the remains belong to the inmates of gadhafi is top security prison the site of a massacre in one nine hundred ninety six. twenty four pm here in moscow sports said twenty minutes to an r.t. kate's got the results of a big football game in southern russia where mega rich geed took on chechen side terek that's the cover but it's got across the russian markets reaction to that news this hour the russian finance ministers quit a block of the. hello and a very warm welcome to the business update and that's right as we've been reporting alexei kudrin has resigned as russia's finance minister and that follows a disagreement with president medvedev sparked by cooter and publicly starting he would not as stating he would not work on them and vet if in the next

administration it became clear in the media often and could transposition was seen a longer tenable to find out how the markets reacted i'm joined by a correspondent peter all over who is at the r.t.s. stock exchange hello peter so what's going on the markets. well when a figure of the statue of alexey could resigns it's inevitable that the markets will feel some pain from when the announcement was made of this ultimatum delivered by president made get have to code to get on board with his policies or to resign both the my six on the r.t.s. both dropped one percent alexy could get in is a very highly respected figure in the financial world not just here in russia but also around the world he's one of those men who is credited with bringing financial stability but to russia following the dark days of the mid ninety's he's also credited with having said. the oh you know you all reserve fund using excess oil

profits to to put their way into a slush fund that came in incredibly useful in two thousand and eight when the financial crisis hit russia this global financial crisis and the effects of that were eased somewhat on russia g.t.d. existence of this fund now. the position as you say oh division of mystical was pretty much untenable for mid-afternoon. for many the markets hides a good few hours and which to weigh up which way they were going to go we did see some sales on the russian. it's the. c.s. eventually finishing slightly down the my six slightly bullets due to the volatile nature of global markets at the moment it's difficult to see just how much of an effect they are how much this is the driving force behind changes in the markets right now is that something we have in the keep an eye on. us right peter we'll

have more market reaction as the markets reopen on tuesday peter all of our reporting from the stock exchange where she markets have closed makes as we've just been discussing there she has ended flash to negative and the maya six was what and a half percent job you can see the figures on the screen let's not have a look at some of the individual movers in the mice it's most energy may just were on the rise look oil gaining two and a half percent spare bonds slipped into the negative territory in the end of the trading session telecommunications giant telecom also turned into red the company is listing twenty five percent of its preferred shares in london. and us talks are rising as investors but that the european central bank will take action to prop up the region's unstable economies. and finally to europe european markets and monday's trading session in the blood of banking stocks were high although miners were under pressure due to weak mortar to prices so low and gold mine of

fresno was the biggest fall on the pan european ended stropping eight point four percent on low precious metals. pointed to the price of oil oil is high of this hour investors are speculating that europe's soaring touch prices will cut fuel demand ample supplies brand blant is that over one hundred four dollars a barrel while the is trading at eighty dollars stout. ok that's all the business news for now join me for another business update in less than one last time here on our.

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your company wherever you're watching the world story tonight the first fallout from the. presidential plans as brushes finance minister quits his post in the last hour. that he could not serve under a new government if it meant the two top jobs switched at the kremlin. scramble for rescue plan the stable for euro collapse and a new wave of global. recession the international monetary fund's accused of not treating countries equally as it describes more cuts for europe while doing america's bidding. the most powerful body prepares for talks over the palestinian statehood bid which president mahmoud abbas handed in late last week but the u.s. and israel are being blamed for stalling the story. next which.