due to the greek problem, cyprus banking sector is unable to finance growth. >> cyprus is heavily dependent on tourism, and the crisis is taking its toll here as well. in february, bookings fell 11%. for years, the island was known as an eu tax haven. foreign investors who wanted a place bonds year came to financial advisers for help, but this has rattled investor confidence. he hopes cypress will hold on to their tax advantages even if it receives an eu bailouts. >> nowadays, the corporate taxes in 10%. there is no taxes or dividends blowing -- flowing to beneficial owners. as you know, the island has kept the low tax rates. that has been agreed by the european union. therefore, i believe cypress can achieve the same treatment. >> small-business owners like this one accused the business -- the government of delaying reforms for years. he predicts a bailout will not improve conditions. >> again, with a bailout it will be reduced some people will not be able to spend as before. generally, the prediction of our association is that 2013 will be worse. >> his store may stand empty for years to

the small nation of cyprus has confirmed some of their fears. government leaders there have asked their partners in the eu for a bailout. cyprus is the fifth eurozone country to make such a demand. government officials did not specify how much they need, but they said they would use the funds to shore up their troubled banking sector. banks suffered heavy losses earlier this year on their holdings of greek government bonds. eu leaders asked member nations to contribute when the alliance bailed out greece. euro group chief jean paul juncker said in a statement he and his colleagues will review the situation and respond soon. >>> of course cyprus isn't the first nation to make such a request. ai uchida, give us a little bit of a background. >> experts are specifically worried that this crisis is going to be a domino effect. we can't forget that 17 countries use the same currency and yet they differ vastly in financial health. as catherine mentioned, cyprus is the fifth nation in the eurozone that asked for financial aid to the eu, though cyprus' e

and debt stricken cyprus is calling for another bit of help from russia. as the countries requested a five billion euro credit to support its financial system this comes after moody's cut the ratings of top cypriot banks that mainly depend on the troubled greek economy last year russia provided the republic with two and a half billion euros of a load which at the time was equal to ten percent of cyprus is. that's what i have for you this hour news i'll be back until it's time with more wealthy and then

more eurozone pain cyprus set to ask for a rescue citing exposure to struggling greece while spain in turn expects one hundred billion euros worth of bailout cash. as top whistleblower julian assange awaits ecuador's decision on whether it'll grant him asylum the new edition of his groundbreaking interview show set to air here on r.t.e. . eleven pm in moscow i might try as a good to have you with us here on r t our top story russian president vladimir putin calls on both sides in the israeli palestinian struggle to resume talks to break the stalemate russia is also ramping up efforts to help resolve the conflict in syria and ease tensions over iran's nuclear program as putin begins his visit to the middle east he's currently on the first leg of his tour in israel where our teams policy leader is following along. the russian president vladimir putin and the israeli prime minister benjamin netanyahu have been holding a meeting at the prime minister's residence in jerusalem both leaders said that the talks had been frankenfood full and the most significant point made was the point made b

that the economy of cyprus may remain stable.more for me in fifty five minutes all right well for you then thanks for that update. now in a couple of minutes we ask a prominent mideast academic whether there is still hope for democratic development in egypt that's after the headlines and this short break. more news today violence has once again flared up the film these are the images the world has been seeing from the streets of canada. giant corporations are today. it is a secret laboratory to mccurdy was able to build a new its most sophisticated robot which fortunately doesn't give a darn about anything to.

parts of call their investments in cyprus very many companies have shells in cyprus to handle most of the financing of the russian companies it is very much in russia's interests. that the economy in cyprus remain stable. all right have more of course next hour we'll be talking to experts about what to expect from the opec meets a lot of news around how did that song go don't worry be happy he said and done though of course if you're live in spain or southern europe whatever thanks for looking forward to that update a bit later now in a couple of minutes we ask a prominent middle east academic whether this still hope for democratic development in egypt that's right after a month of the top stories here on our team from moscow in a minute and a half time. this is our team from moscow thanks for joining us if you just have we started with some breaking news actually now this hour the egyptian hard court just declared a third of parliamentary seats avoided also allows a mature feek the former premier of the ousted leadership to run for presidency ahead of the runoff this weekend and all

banks have got their vestments in cyprus very many companies have shells in cyprus to handle most ofthe financing of the russian companies it is very much in russia's interests that the economy of cyprus remain stable. i have more of course next that we'll be talking to analysts to experts about what to expect from the opec meeting a lot of gloomy news around how did that song go don't worry be happy he just said and done though of course if you live in spain or southern europe whatever thanks for looking forward to that update a bit later now in a couple of minutes we ask a prominent middle east academic whether this still hope for democratic development in egypt that's right after a mine of the top stories here on r.t. for moscow in a minute and a half time.

cyprus is g.d.p. which in haynesworth from rating agency risk rating explains why russia is so generous towards so it was. russia has a very long vested interest to make sure that cyprus continues to fund the most russian of course their investments in cyprus very many companies have shells in cyprus to handle most of the financing of the russian it is very much in russia's interests the economy of cyprus remain stable. right more for me in fifty five minutes all right well for you ben thanks for that update. now in the couple of minutes we asked a prominent mideast academic whether there is still hope for democratic development in egypt that's after the headlines and this short break. more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. giant corporations are on the day. sigrid laboratory. was to build the most sophisticated robot certainly doesn't give a darn about anything mission to teach creation why it should care about huma

cyprus has become the face. eurozone country to ask for financial help in the form of billions of euros to prop up its aging economy the government says its banking sector has been heavily exposed to the crisis in neighboring greece cyprus has to continue talks for their own from outside the e.u. countries such as russia and china if one is on and what's called greece and spain which sort of rescues from brussels. spain sold twenty eight of its banks downgraded by one thousand statements one days to madrid are spread in about two hundred billion euros a crisis which. says the usa is trapped in. what we see now is that this this crisis reached sort of a tipping point especially in in the case of cyprus and spain where what economists call the do loop sort of the mutual dependence of banks and states and one another has reached the point where the state is no longer capable to prop up its own banks and the banks are no longer capable to prop up the one government so basically what needs to happen is that external

crisis claims its fifth victim cyprus asked for multi billion euro bailout to rescue its people banking sector and violence its debts. pro-car sing live from the heart of the russian capital this is the nato is set to decide what action to take against syria after turkey called for an urgent meeting of the alliance ankara says its allies should view friday's downing of its military jet by the mask this as an act of aggression artie's rif an ocean that has the latest. they to officials will be gathering for an emergency mission in brussels late on tuesday and that's off to turkey's request the country has invoked article four all the alliances chalta that allows any of its members to call for consultations a fits feels that its territorial integrity will national security have been threatened the last time i want to call for it was invoked in two thousand and three shortly before the iraq invasion and back then again that was took this initiative this time took it has called for me taking full consultations off to its fanta just will show dawn by syria and turkey and syria and turkey is

more pain in the eurozone cyprus set to ask for a rescue citing exposure to struggling greece well spain in turn is expecting one hundred billion euros worth of bailout cash. and is the world's top whistleblower julian a songe awaits ecuador's decision on whether it will grant him asylum the final edition of his groundbreaking interview show set to air here on r.t. . ten pm in moscow i met très a good to have you with us here on r t our top story russian president vladimir putin has called on both sides in the israeli palestinian conflict to resume talks to break the stalemate russia also increasing efforts to resolve the conflict in syria and he's tension over iran's nuclear program as putin starts his visit to the middle east the first leg of his tour in israel is where he begins with artie's paul asli are along for the ride. both leaders said that the talks had been frankenfood full and the most significant point made was the point made by the russian president calling on both israelis and palestinians to resume peace negotiations the israeli prime minister responded with this close t

have gone their vestments in cyprus very many companies have shells in cyprus to handle most of the financing of the russian it is very much in russia's interests. that the economy of cyprus remain stable right at the top of the i'll be back with a look at the closing bell picture here in russia see that. the. line rushes would be so much brighter if you knew more about song from feinstein press.

the eurozone crisis claims its fifth victim cyprus asked for a multi billion euro bailout to rescue its feeble banking sector and finance its debts. they're world news and analysis twenty four hours a day this is r.t. . nato is set to decide what action to take against syria after turkey called for an emergency meeting of the alliance ankara says its allies should view friday's downing of its military jet damascus as an act of aggression so let's now get the very latest in the syrian capital how far is the u.s. led alliance expected to go in dealing with this dispute. well very this question still remains open but indeed nato officials will be gathering for an emergency meeting in brussels later on tuesday and that's off to turkey's request the country has invoked article four all the alliances chalta that allows in your words members to call for consultations if it feels that its territorial integrity will national security have been threatened the last time article four was invoked in two thousand and three shortly before the wreck invasion and back then again that was took his initia

turmoil as well as leaving it relatively flat right now ok talking of europe i'm going to go out cyprus now russia is ready to provide the debt stricken russia with ski's may let me start again russia says it's ready to provide the debt stricken cyprus with an emergency loan of five billion dollars now there were questions after the top secret banks were downgraded and that was due to their high exposure to the troubled economy the last two boss of the family did they recover it with two point five billion euros and that is equivalent to ten percent of cyprus is g.d. paid so that leads us on to the european markets we see how they're performing right now we can see they are indeed dropping just lots going on in the region today for the footsie point seven percent down for the data drawn up and we've got another a tally and bond auction happening today is the third biggest economy in the eurozone and they are going to want to prove that they're not the next country to get a bailout so all eyes on europe will once again what is the spain situation as well i know you would have about yours

cyprus is small and, therefore, we are looking forward to benefiting from these finds. >> reporter: cypruss taking on a big role, heading at the end of the month, cyprus will take on the eu presidency and boy it couldn't be a more challenging task at a more challenging time. >> it's set to be a eurozone showdown of epic proportions. greek national football coach will be assembling his best to take on the mighty germany at the euro 2012 football court final and the odds are stacked against the greek despite the team causing the biggest upset in the competition so far in their last game against russia. germany has won all three matches. i've watched all of them in slow motion. i know all the names. >> the greek captain is out with a couple of yellow cards or something. i'm sure most of our football players are cringing as we make through this. i'll be watching that game tonight. absolutely. >> absolutely. >> king james is getting his crown. miami heat led by superstar lebron james won the nba championship in the u.s. last night. they beat oklahoma city thunder in game five of the finals, 121

poses difficulties for the cyprus government and a parliamentary session on may seventeenth they voted to help the bank fill a capital shortfall estimated by the bank and the country's finance ministry and nearly two billion euros the money needed represents a tenth of the country's g.d.p. max right this capital shortfall again some collateral that the banks both have on their books minimum capital requirements obvious. asli bring jamie dimon down there to consult and he will convince the government that fetiches is collateral now based on fetiches collateral this bank is over capitalized this bank should start making fetiches collateralized loans immediately then goldman sachs an issue called fetiches collateralized loan secured bonds to sell to european banks put them on their balance sheets and then six years from now they'll write the sort of aaa rated fed a back collateralized mortgage bond anymore i mean our banks being pretty sorry general and the bank here in spain i mean we're bankrupt no you just haven't collateralized enough cheese this is the big problem in italy when other

russia has a very long vested interest to make sure that cyprus.used to function most russian but it's of course their investments inside the us very many complaints of shells in cyprus but tumbled most of the finance and russia from it is a very much in russia's interests that that the economy of cyprus most remain stable cry at the top of the i'll be back with a look at the closing bell picture here in russia see that. the. which brightened if you move from found steam pressure. in startup team dot com. hello live from r.t. h.q. in central moscow it's kevin owen here this with breaking news on our headlines the u.k. supreme court rejects a request from wiki leaks founder julian assange to reopen the case about his extradition his last chance then to escape being handed over to sweden is now appealing direct to the european court of human rights more on that in the coming hours. egypt's highest court this afternoon ordering the dissolution of the country's islamist dominated parliament after a ruling a third of m.p.'s were elected illegally and an

we see now is that this this crisis reached sort of the tipping point especially in the case of cyprusand spain where we're coming to school to do new sort of the mutual dependence of banks and states and one another is reached the point where the state is no longer capable to prop up its own banks and the banks are no longer capable to prop up their with government so basically what needs to happen is that external forces need to come in. to profit off this real government so that it can continue getting out its own banks there's an ironic situation one hundred billion is not enough for the spanish banks they'll probably need a lot more and i think within a year will see another european bailout for the spanish banks coming along and at the same time these bank avail outs for the for the spanish banking system will be passed through. the spanish government directly and this means that it will add up to the sovereign debt of spain and as a result it will make it more difficult for spain to repay its debts in the long term this one hundred billion euros that's being piled onto into the

provided the recovery with two point five billion euros and that is equivalent to ten percent of cyprusis the g.d. page so that leads us on to the european markets to see how they're performing right now we can see they are indeed dropping just lots going on in the region today for the footsie point seven percent down for the third of. another tally and bond auction happening today is the third biggest economy in the eurozone and they are going to want to prove that they're not the next country to get a bailout so all eyes are on europe will once again what is the spain situation as well i know you were talking about yourself carry the downgrades from maydays as well as cyprus received the downgrade well all right asia i mentioned they did close up on the back first china got of a bad rap today they were downgraded by. credit suisse and deutsche bank fighting slow up the road for the second biggest economy and the wild on the nikkei is while they finished on the back but a lot of exports is in the region far exposed to our that's how the markets are looking as i say with focusing on oil

the eurozone will have to find more cash for another of its struggling members after cyprus became the fifth state to say it needs battling out its side of heavy exposure to greece the blocks hardest hit remember no official figures have yet been given but analysts estimate cyprus could ask for five to ten billion euros this is only a fraction of the hundred billion which spain has already asked for to shore up its own beleaguered banks and the promise of rescue cash however did not save madrid's banking sector from another international downgrade ratings giant moody's house the scores of twenty eight spain blenders crisis researcher drove bruce believes the eurozone is trapped in a vicious circle of debt and balance. but we see now is that this this crisis reached sort of a tipping point especially in the case of cyprus and spain where would economists call the duma to sort of the mutual dependence of banks and states and one another has reached the point where the state is no longer capable to prop up its own banks and the banks are no longer capable to prop up their one government s

cyprus joins and three other nations asking for a bailout. that news from cyprus and formal request from spain sends stocks reeling. dow jones drop thed 138 points the -- nasdaq lost 56 points. we'll take you live to the new york stock exchange to see how the indices open in our 6:00 hour. >>> microsoft beefing up business social networking buying yammer. the 1.2 billion dollar cash deal will givex!@[ >>> all right, the way things have been going weather-wise you want to put up a photo of the sunny beach to feel warmer. >> we'll feel warmer today not that warm but we are going to try to get there. good morning. you can see the sunrise behind the three of us here it is from a different perspective, sutro tower looking down on clear air that usually happens when you get a cooler than normal air mass it comes from the north where the air is cleaner than it is around here. beautiful picture there, let's take a look at live doppler and we are seeing a clear sky from the north on mount st. helena and from the south on mount omnium. when you step o

the eurozone claims of a crisis i should say claims a fifth victim has cyprus asked for a multi-billion dollar about loud rescue its people banking sector and finance its debt. oh live from our studios in central moscow you're watching with me and he said now it's good to have you with us two pm here in the russian capital twelve noon in brussels and nato is set to decide what action to take against syria after turkey called for an urgent meeting of the alliance ankara says its allies should view friday's downing of its military jet by damascus as an act of aggression war correspondent tests are silly it is in brussels and will be joining us shortly live from there with an update. the turkey claims meanwhile that the downed jet was on armed and it was simply tasking the country's radar system but the head of an independent syrian media outlet says ankara was probably spying on damascus. it could be there they were just saying. it was locked and the silence was actually . artillery that shut it down with a maximum range of five kilometers on what was the stands i'm doing fine goes away f

cyprus has strong economic ties with greece. moody's says that commercial banks in cyprus are suffering huge losses from the hold they held. and loans they extended to greek firms. now, as for stocks the dow jones industrial average ended lower on weak data and those ongoing concerns about the eurozone. for more on how stocks are going here we will go to ramin. any headliners to take into consideration? >> definitely. very good morning to you, ai. we've had the volatility in the markets largely to events in the eurozone. and the upk078ing elections in greece this weekend will be a focus this weekend for sure. we've got the bank of japan meeting kicking off today. prime minister noda will be battling to push through his increase in the consumption tax. and that's also going tbe a cus for the markets. let's see how everything is kicking off today for the nikkei and the topix. a little bit of a negative start here for this thursday morning. and we might see the nikkei trading in a bit of a range opening currently now at 8,538. topi

to limit the emergency aid to its banking system the lender in focus is the second largest lender cyprus popular bank which took heavy losses due to its exposure to greece while considering a bailout from europe cyprus has also asked russia for a direct loan it might need the both of them. and that's all we've got time probably right about fifty minutes definitely get a thanks very much indeed for bringing us up to speed and in just a few moments i'll bring you the headlines so stay with us. today children play war in the old case me. but in june one hundred forty one these walls were the first barrier from another troops on their way to moscow and. the funders of breast milk were dying one by one under seizures from the water. in the last shelter an unnamed soldier left a few simple words farewell mother la.

euro zone crisis claims it's victim as cyprus on for a multi-billion year old pal out to rescue its feeble banking sector and finance its debt. its three pm here in moscow this is r t coming to you live from new sonali with our top story the nato has held an emergency closed door meeting on turkey's request after one of the country's military jets was shot down by syria claims it was an act of aggression to mask its maintains it acted in self-defense here's our correspondent tusshar silvio with the latest from brussels. very short statement had come out after that meeting due to quote most and he said that serious action in downing the turkish plane is unacceptable added need to condemn sit in the strongest possible terms and stands by turkey in solidarity when asked to elaborate on what specific actions could follow after this he he simply did not want to give any details and he says that he hopes and things that it just will not happen again we have to remember that this was a consultation they decided to be the consensus that came upon is the strong statement that was far as what's goin

is pushing cyprus to take a full bailout package was ten billion euro is now resisting the. country the attempt to limit the amount as the aid to its banking system now the lenten in focus is the second largest side to cyprus popular bank which took heavy losses due to his exposure to greece now while considering about strong europe cyprus has also also russia for a direct loan signaling it might need. i came back in about fifteen minutes with another update for you definitely thanks very much indeed for this and well we're moments away from the latest program where the world's number one of whistleblower joins us on here on r t that's coming your way right after the headlines stay with us. there hasn't been anything good on t.v. . it is to get the maximum political impact. before the source material is what helps keep journalism on the we. we want to present. something real. is the.

a little in the dead domino rolls across the euro zone cyprus becoming to fifth state to admit it needs a bailout well spain awaits its own hundred billion euro lifeline. six pm in moscow i met good to have you with us here on r t our top story nato's condemned the downing of a turkish fighter jet by syria but fell short of calling it an attack on the alliance that something member of the bloc had wanted to push for an emergency meeting in brussels saying damascus committed an act of aggression or he's tests are sillier reports. well it was a very short statement at the end of this closed door meeting essentially nato said that to syria's downing of the turkish jets is unacceptable and the need to condemns it in the strongest possible terms and also that it stands by turkey in a show of solidarity when asked to elaborate on what specific actions could follow after this most and simply did not want to give any details and he says that he hopes and things that it just will not happen again emergency meeting was called by turkey under article four of the treaty of nato which states that sh

your screen just that so we're going to talk about some other troubled economies in the euro zone cyprus europe is pushing cyprus to take a full package worth ten billion euros resisting the country's attempt to limit the emergency aid to its banking system the land is in focus is the second largest lender cyprus popular bank which took heavy losses due to his exposure to greece well considering a bailout for europe cyprus has also asked russia for a direct slowed sigman maybe. rory you'll be joined by marina controversial have all the latest enjoy the afternoon. in just a moment we'll be doing the headlines you're not the world's number one whistleblower julia songs today announces you seeking asylum in ecuador we have the latest edition of the exclusive interview program with julian r. sargent just a moment. well . science technology innovation all the names developments from around russia we've got the future covered. more news today violence is once again flared up. these are the images go viral.

cyprus has become the fifth country to ask for financial help in the form of billions of euros to prop up its ailing economy the government says its banking sector has been heavily exposed to the crisis in neighboring greece and cyprus plans to continue talks for a loan from outside the e.u. countries such as russia or china follows ireland portugal greece and spain which of sort luncheon rescues from brussels earlier spain saw twenty eight of its banks downgraded by ratings agency moody's after madrid asked for a loan of up to one hundred billion euros the crisis of. the euro zone is trapped in a vicious circle. what we see now is that this this crisis reached sort of a tipping point especially in the case of cyprus and spain where what you call a missed call the do loop sort of the mutual dependence of banks and states and one another is reached the point where the state is no longer capable to prop up its own banks and the banks are no longer capable to prop up their one government so basically what needs to happen is that external forces need to come in to prop up this real governm

here we go the debt strike in cyprus is calling for another bit of help from russia yet it's me just as a country house requested a five billion euro credit to support its financial system now this comes off to moody's cut the writings of top cypriot banks that maybe depends on the troubled greek a quote of the last year russia provided the republic with two and a halt million year i learned which at the same time ten percent of cypriot g d pay . more than care of it back in fifteen minutes with another ok thanks for that k.c. . well that should in the sergeant's probing talk show is up next try to off the headlines. wealthy british style the sun comes out on the front. market why not come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report. says if you're followed up on my debt snowball the. chinese are sort of a twelve pack and i can't part of our long. and it goes back to a time when people would write out of their forces in the wild west and pick up these future days imp

the situation now that yeah that's right carol we have been following the story and it's because cyprus is the latest country the european country just feeling the pain right now and it's very much russia to the rescue so let me give you the details on this one now as you say russia says it is indeed ready to help cyprus out and it is a debt stricken country right now and it's going to be lending an emergency loan of five billion dollars now the request came after top cypriot banks were downgraded due to their high exposure to the troubled greek economy in the last year russia provided the republic with two point five billion euros and that's equivalent to ten percent of the cypriot g.d.p.'s it's not the first time that they've asked russia for a little bit of help to help them out of a sticky situation a lot of their banks are exposed to grace as i say so with that in mind that have a look at the european markets because they have actually recently opened in the last twenty minutes or so to see the figures and see what the sentiment is really looking like that the phone is a relatively

seconds but right now i want to talk about cyprus because they're off to russia for some help and russia is going to give actually this is get well this is interesting now it's a case of russia to the rescue for five for us now russia says it's willing to loan five billion dollars to the troubled economy and the us after a request was put forward after major cypriot banks were downgraded due to the high exposure to the greek economy is not the first time the two countries have been linked last year russia provided the republic with two point five feet in your eyes and the us could hit ten percent of cypriot g.t. pay as a sidebar in courses well we've just had some results come in spain in italy reaching all time highs cyprus has got a downgrade but so has spain as well and that's really putting pressure on those borrowing costs. right so spain ten year bond yields seven percent attorney in as well we got five point three percent so the pressure is on in europe today demanding a higher borrowing cost us the situation right now as you can see got a foot see that probably three quarters of

if i ok europe is pushing cyprus to take a full bailout package was ten pretty near as now resistingthe country's attempt to limit the emergency aid to its banking system now the lend in focus is the second largest said the popular bank which took heavy losses due to exposure to grief now walk considering a bailout for europe cyprus has also rough so far direct signaling it might need. ok so next hour it's all about your. now they will be i think about that all right thanks very much katie as we tour the world on the world markets i'll bring you the headlines next here on r.t. . we have a vocal war lords will give him a note so we have a lot of groups of the called citizens who sues also abusing the woman right enough to my mother it was like many of them out age it wasn't forced marriage it's the smadi when i was fourteen yes you can liberate other women and you certainly can't do it through the barrel of a gun only effective social changes can be the afghans themselves afghan men and women we believe are going to stun them not to be cross paths without the participation of its chem

is now expected to cover can't cover and as a result of that the cyprus is not intruding on the line on the edge of applying for the bailout itself if greece goes on a disorderly fashion and i thought very small probability to that of about twenty percent roughly speaking down the whole how breaks loose across the eurozone and it is most likely what will happen is that the eurozone and the certainly i.m.f. will have to put a stop on greek bonds has been used as collateral in the emergency committee assistance operations with the national banks and also in the e.c.b. and that's the result of the police will not have lots of fun. thinks it's over my will to fall effectively on the payment system capital controls will come in political system will become destabilized once again behavior is the greeks oh it is talking about food they're still going to provisions as we know from the reports from athens and from the us through these there is a capital flight going on that capital flight is going to accelerate through the illegal black market channels where people will be withdrawn from the