does this recent weakness present an opportunity for bargain hunters find out from our business schools and in twenty minutes. a very warm welcome to you this is our live from moscow german m.p.'s have voted in favor of new rules governing the eurozone bailout fund designed to help economies struggling with their debt crises well meanwhile more public protests erupt in athens international debt inspectors assess the country's progress in implementing tough austerity measures a little later in the program we'll be talking live to our correspondents who's in athens for an update. now the e.u. commission the president insisted that greece will remain in the euro zone and called on its members to join forces the union faces its biggest challenge in history that british euro m.p. godfrey bloom things that the biggest problem in this crisis is the european union

itself. you cannot tax your way out of recession or depression is simply isn't possible in the great winston churchill's quotes on this trying to tax your way out of a recession is like trying to lift yourself up in a bucket by the handle a simply call and this soon is the politicians the bureaucrats never really else face the truth of this crisis the sooner we can start to get out of it the greek people are beginning to understand that they will be better off by defaulting on what we need to do the rest of the european union the eurozone and indeed the i.m.f. is to help them in a stable controlled defaults no what we need to do is to get national governments democratically elected back to running their own economy is the you're opinion isn't part of the solution here the european union is part of the problem it's the european union in the euro zone which has created this terrible

cataclysmic problem so new is not part of the solution mr berg said least of all. now the deepening of the downturn has revealed some painful truth. that governments don't rule the world goldman sachs rules the world the mainstream media is in shock after a trader exposes what some call the world economy is the worst kept secrets. trap the palestinian bid for un membership which is pressing through the security council despite the looming threat of the us. the ethnic standoff continues in kosovo as nato reinforces its presence on the contested border with serbia this comes a day after at least eleven people were injured in clashes throughout the area where the violence flared up when on tuesday native peacekeepers trying to dismantle barricades during the dispute rubber bullets and tear gas were used by alliance forces so little officials claim some of the injured were shot with live

rounds but the barricades were set up in july when calls from authorities tried to seize the checkpoints to enforce a unilateral trade embargo russia's foreign ministry has called on the peacekeepers to the area to stay neutral but the russian envoy to nato didn't bring her goals in saying the alliance taking sides could inflame the conflict. it seems my nato colleagues don't have a clue what the consequences of their involvement in the conflict could be instead of taking a neutral position in accordance with the un security council resolution they took the side of constable albania basically nato is blocking the only road of life between the cost of an serbs and serbia it's the international peacekeepers who are involved in the civil conflict in the north of the region according to our sources there are badly wounded people among the consequent serbs and those wounds are not from rubber bullets or from stones they're from real bullets fired at these people need to refuse to answer that question it's another mistake that nato is making and

provokes another conflict in the balkans. now the serbian minister of interior affairs. told r.t. that the west may wrongly believe that the cause of the problem is a far. yes they will preserve days of course in favor of a peaceful resolution to the course of the issue but it also needs to take care of those who live in concert no one could expect us to abandon them even for the sake of joining the e.u. that's why we're asking for a security council meeting with support from russia but unfortunately the un was unable to make a decision under pressure from western countries who think the cost of the issue is closed those countries recognize course a lot and i think there is nothing more to talk about but i think there is there is room for negotiation and each decision must be fair. to russia's southern republic of dagestan now where a car bomb has killed one police officer and seven civilians among them an entire family the bomb went off the security officers approached

a suspicious vehicle parked by the road a civilian car driving by at the time of the explosion was caught in the blast all of the passengers were killed instantly officials say the attack was like a local leader who was also passing through the area for russia's north caucasus has been a spike in terror attacks recently over seventy people have been killed in the republic of dagestan this year and they. are coming your way later this hour meet space exploration new kid on the blog time is preparing to launch an unmanned space to burra tree heavenly palace to mark the first step towards building its burying space station. wasco says it could support a compromise draft resolution on syria that would unite all russian and european positions on the conflict this comes after hours of talks at the security council is to veto wielding members russia and china rejected the initial european plan calling for immediate sanctions or the sort of version presented earlier by the

states favors the measures of the violence doesn't stop moscow has long insisted that restrictions are simply a strategy to pursue regime change in syria and do little to actually resolve the crisis for its. russia's envoy to the u.n. how it was that a compromise could be found as the rest of the security council was united in their commitment to end the violence meanwhile fighting in syria continues with the army supported by tanks and helicopters now locked in sync the opposition city of boston . the palestinian bid for recognition of the u.s. is moving through the security council it's been polished on to the group's mission that committee which will consider the application on friday but the u.s. has vowed to veto the motion in support of its ally israel meanwhile tell it the has been slammed by the international community for deciding to expand its settlements on palestinian soil aussie's miniport not reports. so far there is about six security council members on record that have thrown their

support behind the palestinian bid a total of nine out of the fifteen countries need to support the application and there has to be no vetoes none of the veto wielding members of the security council should cast a veto as we know the united states a staunch ally of israel has vowed to veto the palestinian bid for u.s. membership if it house to israel is very much opposed to this the u.s. president barack obama said the only way that there can be independent palestinian state is if the palestinians and the israelis get back to the negotiation table and discuss the middle east peace plan that comes to fruition so at this point some critics say the palestinian campaign for a year number ship is doomed to hell but the palestinians are very appreciative that security council is moving so quickly and at the very least this is bringing to it bringing attention to a problem that has lasted for decades and has not yet been solved there has been

condemnation coming from the international community against israel's plan to expand its settlements russia has said it's deeply concerned with the plan and hopes that it would be revised the united states and european union also voiced criticism of this plan and some critics say that this settlement expansion is actually a violation of international law and if anything israel's actions can be seen as provoking and already sensitive circumstance not helping to reach a. peace agreement the palestinian authority say that israel clearly with this move is not serious about peace whatsoever and we can imagine that a lot of the diplomatic negotiations will continue taking place to make sure that maybe israel will. take its plan on expanding settlements because if those settlements do expand the palestinian president said there will be no kind of

business as usual and no direct talks with the israelis. let's return now to one of our top stories german m.p.'s have voted in favor of new rules governing the u.s. a bailout fund designed to help economies struggling with their debt crisis let's go reaction right now from greece and our correspondents who sit out there and for us so what does this mean if the greek economy is the crisis now or. will it means that there's going to be cash available as was widely expected that they passed and that really clears the way for the expansion of the size and power of the u.s. same bella fund. that's now increased to four hundred forty billion euros of which two hundred eleven billion is going to be contributed by germany we know there's a lot of criticism. of the fact that germany was going to have to be even more involved it was already remember the biggest contributor so it does clear the way no money to start flowing into greece of course greece still waiting to find out if

they're going to have that eight billion euro cash injection released to the hopefully early on next month because very very quickly if they don't get that they're going to start running out of money and that will mean they won't be able to pay people salaries they won't be able to pay their bills so he said it is positive that they went through the moment the breakdown is happening and certainly as yet where the chancellor merkel has managed to get enough votes from her own coalition to silence the critics that's not only unexpected as we said a lot of the analysts here were saying that they already knew that this was going to get fated to move remember that greece is bad for the entire euro area these are the year is in countries are in a very perilous situation and so the people we've been speaking to here is said that really greece can't be allowed to fall that would be a very bad situation for countries like germany to find themselves and say an interesting situation at the moment we're going to be waiting to see over the

coming days and weeks exactly what that means and. how that translates into the cash that they'll be promising to greece and what that will actually mean what that little bit and how it will be released there as you say this was widely expected but still what's been the reaction to it actually having been passed today in athens. was the reaction still to be honest one of skepticism that greeks you know have had to do with these very severe austerity measures that have been put in place happened today the prime minister visiting berlin ahead of this vote to trying gunderson support but you know here on the streets he's really losing a lot of support of his own people and again what a lot of people are feeling is that although it is positive that this vote went through and although the cash it now seems will be available this is seen as you know yet another cash injection it's a very short term measure and already sites are turning to what the longer term measures will be you know how exactly. in this country the people here are saying

that the measures that are being put in place are doing anything but that they're being absolutely crippled by them so already despite the positive outcome of the vote site turning to the next challenges that the eurozone faces and there are number that they're going to face in the coming days and weeks ok many thanks for reporting for us from athens. china is just a few hours away from launching an experimental model one also known as heavenly palace into space marking the first ambitious step to building the country's very a space station the space lab will be testing technology such as life support systems if all goes well it'll be a significant step toward china's space station which is planned for the end of the decade the editor of news of the cosmonaut magazine. but he's china's exploration of space is fueled by his desire to catch up with other countries. to

reverse it. whatever the case go to the program china has been approaching it in and space exploration program with few but very precise steps every launch for them is something new but for now they are at the point we had reached thirty years ago as for technology they may well have borrowed some of it both officially and on officially from russia the u.s. and europe all over the place with one of the reasons the chinese are developing their own space program is that they weren't invited to join the i assess they were even refused the mission just to visit the station you know russia and europe but nothing against it so we have to bear in mind that china is a different civilization it was once willing to go hand in hand with us and the americans but will simply go their own separate way so this launch is the first step into their own module based space station which they plan to start building in two thousand and eighteen. and elsewhere in the galaxy

a ten centimeter piece of daybreak may not seem like a big deal unless of course it's careering around earth's orbit three people on the international space station and now preparing to take evasive action to avoid an encounter with the runaway space john let's get the details now from our. well the crew themselves are prepared for this type of eventuality it actually happens around six hundred times a year the average is that they have to make a vase of maneuvers on board the i assess to avoid bits of debris that are flying around now there are an estimated twenty thousand pieces of space junk being tracked going around going around the planet at the moment this particular piece of space junk is a a ten centimeters size bits of a rocket that was launched in one thousand nine hundred ninety one to send a satellite into orbit now what happens if the i assess detect that they are on a collision course with

a piece of space junk that they try to make emergency maneuvers if they can to try and get out of the way however if they can't make those those maneuvers and be one hundred percent sure that they can get out of work out of the way there's only one course of action left. the crew take shelter in the most protected area of the ship the safest place is the capsule in the so use module so that's where the entire crew hides when the station is considered to be in danger as it stands at the moment there is no viable plan in place to clean up space and all of those theories that have been put forward are either too expensive to outlandish some of been dubbed a little bit too saif i basically the technology isn't advanced up this present time now the big problem comes is as i say around twenty thousand objects are being tracked at the moment the most recent one you can see a shot of just right there that came down to earth the most recent large object was the usa r.s. . research module that was

a nasa satellite that will be monitoring the the atmosphere that came down to earth last week and part of it went through the atmosphere now that the reason that we have so much space junk in the big problem comes is that the space junk is growing exponentially due to something called the kessler effect now what this is one piece of space junk crashes into another piece of space junk and makes more space junk and around six years it might be enough space junk up there to cause problems from launching anything from earth into space due to the fact that they're simply isn't any isn't any room around the planet so at the moment there is no way of tidying up all of this debris to make sure that we can continue the exploration of space on mainstream media is then into taliban after an independent trader telfer people see how the world of big money in politics looks from the inside here's our report now from washington on why this was such an eye open now. the governments don't rule

the world goldman sachs rules the world it was the comment heard around the world one that generated widespread reaction from papers and pundits alike we appreciate your candor however it doesn't help the rest of us does it but instead of talking about the comment itself most outlets media at least not to shoot the messenger alessio forbes called him a psychopath c.n.d. she suggests it might be a hoax new york magazine wonders if it is a hoax or perhaps our worst nightmare well regardless of our intentions the bigger question has been largely ignored was he wrong about the power of goldman sachs and why was everyone so shocked after all right here at r t in our studios we've had several guests bonafide traders even former goldman sachs employees who have said at the very same thing washington is not the biggest player in this global bankers are the biggest players the global hedge fund managers and that's where the action

that is determining the outcome of this mass not the players in washington they have already seated control to the global banking industry wall street has been pulling the strings in washington from the get go it is the largest sector of campaign contributions and that's to both parties but for the mainstream media who don't share views like these are studies honesty was unexpected survive and thrive t.v.'s george hamon jury when they asked him nice questions on b.b.c. he just let it all hang out and the actual truth came across. sonny also sent shock waves around the world when he told the b.b.c. that most traders don't really care if and when the economy is fixed personally i've been dreaming of this one for three years i have a confession which is i go to bed every night i dream of another recession the b.b.c. interview has now gone viral if you could see the people around me jewels of collectively drop what you just saves perhaps there. it wouldn't have dropped they only read

july two thousand and nine a rolling stone article the great american bubble machine in it he famously described goldman sachs as a quote great vampire squid wrapped around the face of humanity relentlessly jamming its blood funnel into anything that smells like money t.v. discussed with us recently how although people are unaware of it the big bank has profound power in society how much you're paying for gas how much you're paying for electricity how much you're paying for your credit cards. your mortgages how much you're paying in taxes and how much of your tax dollars are going to debt service. unlike the mainstream media few here would be shocked by rest on his comments was shut down for nearly two weeks these protesters have been out every day hoping to bring an end. or at least awareness to what many call a corrupt system really was. and still others have argued

for years that the government's actions are dictated by the big banks the very special interest on wall street the insurance industry these guys these are the people who are writing the laws that obama is asking they are keeping him in power they are the ones that have financed this campaign and the laws are being written for their benefit. as anger builds here perhaps better questions need to be asked here so that a different message is sent to decision makers here that the system that has been sustained and protected for decades might need to change in washington christine for our tea. ok let's take a look now at some other stories from around the world an american police have arrested a twenty six to challenge him with plotting an attack on the u.s. capitol and pennsic in the remote controlled model aircrafts packed with explosives f.b.i. investigators have been monitoring the suspect for miles undercover federal agents

provided him with fake c four explosives as part of a sting operation under arrest him shortly afterwards he was also charged with attempting to support al qaeda groups. several egyptian the parties have threatened to boycott the vendor election unless the conference room is amend the current ballot little's the announcement was made in the joint statement on wednesday is that it was prepared to stay to the protests in the capital. report see thousands of people dissatisfied with the student who seemed to go over what president mubarak was ousted with february are expected to turn up to the right. a man has been sentenced to death in bahrain for killing a police splintering the address of the country's capital manama earlier this year thirteen doctors and nurses have also been sentenced to prison terms of up to fifteen years between protesters indeed in clashes with government forces in february and march this year in the wake of the arab spring uprising and the

country was forced to repress the numerous claims its human rights abuses. former i.m.f. chief dominic's calls canas confronted a french writer who's accused him of a sexual assault police are currently investigating please the battle is like the station before the prosecution decides whether to press charges bottles as close can attempted to rape when she was interviewing him in paris do thousand and three well the days comes just weeks after another assault case against the four mile lefty's was dropped he was arrested in new york in may after a hotel maid claimed he just. said i have for you this hour days you have better on the prowl for financial terrorists while trying to figure out who's profiting from the chaos on the markets right now they look at the business update with. welcome to our business update the self thanks for joining me russia took

a heavy blow in the last bout of the national market turbulence last week the country's indices lost over ten percent making russia the worst performer among emerging markets but does this recent weakness present an opportunity for bargain hunters and if the sequence of pall over from a creature capital believes it does but investing now would be risky. taking into consideration prices and levels. is very attractive but the main point is that there is significant flow of global money supposed to hit the place right now according to the recent i.m.f. research paper around eight point two billion dollars from emerging europe and particular russia supposed to be get off so there is a big opportunity for emerging market being on the top level for big funds but unfortunately the more trying to be conservative and still be cash and bind

us treasuries rather than looking to emerging market. thank you national lottery fund has painted a grim picture in its latest edition of the world economic outlook even though they predict a global growth of four percent for two thousand and eleven and two thousand and twelve is not all doom and gloom if you live in an emerging economy. that's down about half a percent from where it was at the june world economic outlook update so growth prospects have to point to that four percent figure really kind of masks the globe masks a bit why difference that we see between what's happening in emerging markets and advanced economies in emerging markets we're seeing growth prospects in excess of about six percent over twenty five and twenty twelve where it's for advanced economies that's going to be below two percent. the baseline assumptions here is that you know the euro zone sovereign debt crisis is well contained and it is not

a freezing of global financing. let's take a look at the markets now oil advances pairing its biggest quarterly drop since two thousand and eight that's on speculation that an expanded european bailout fund approved by the german lawmakers today will support economic growth and fuel demand brands blend is trading at one hundred five dollars per barrel while. isn't nearly eighty two dollars a barrel and stocks and europe alone now after earlier gains that's up to germany's parliament vote to approve the expansion of the eurozone bailout fund but germany's dax rose point six percent on the news but latest slid two point four percent however the foot sea is still losing point seven percent banking she has rallied with commerce bank of six point six percent b.n.p. party bought gaining over six percent association are all having eighty five. russian markets recover from earlier losses pointing up and afternoon trading

session the r.t.s. is up point four percent while them isaacs is gaining over eight percent and now let's take a look at some individual channels on the lies axis our energy majors on the rise with look oil up over two percent banking stocks no exception was gaining one point three percent and air flawed is up two point nearly two and a half percent. supported by news its passenger traffic rose twenty three percent in the first eight months of the year. she has of russia's top search engine a young have suffered the biggest fall since listing all the net stuff with thirteen percent plunge sent the shares two dollars below the list price during the company's i.p.o. in may of the say confidence has been knocked out of the company continues to lose position in its home market to google. another dispute over gas prices is wearing its head turkey says it could break existing contracts if gas problem does not provide a bigger discount. complaining that the price of russian gas has risen thirty nine

percent in two and a half years the republic annually buys thirty billion cubic meters of cost from russia which is almost two thirds of the turkish demand and this is not the first time the country has asked for lower prices but so far moscow has resisted any attempt to change the culture. well that's all from me for this hour but we'll be back with more in less than in about forty five minutes from now so join us that.

twenty years ago are just country. seem to. have been. began a journey. where did it take the. news today violence is once again flared up. and these are the images group world has been seeing from the streets of canada. giant corporations through the day.

german the norm eight years have approved new powers for the year as a bailout fund designed to help struggling economies meanwhile more public protests erupted since as international desk inspectors assess the country's progress in implementing terrible measures. russia has movie lines not to take a song like this tensions run high at the close of those serbia border inflamed by a nato troop crackdown on the serbian barricades. and china is hours away from. space the origin of the heavenly palace some on the first step towards building its berry and space station. it's all the headlines here on aussie coming up next to report stay with us.