e.u. bailout fund may need to be increased yet again as fears mount that europe sovereign debt crisis couldn't go to spain and italy but also little relief on the u.s. front where investors are fearing another recession have led american stocks leading to wall street's worst day in the three years since the global financial crisis began. anti-government protesters in syria reject president assad's decree legalising opposition parties as activists say more than a hundred have died since the weekend and the continuing assault by troops in the rest of city of hama reacting to the bloodshed the un security council condemned the government's deadly crackdown on protesters and called for internal political dialogue to end the violence. and a french court has ordered an investigation into possible misuse of public funds by the new international monetary fund chief christine legarde when she was france's finance minister she took over from dominic strauss kahn at the i.m.f. only last month after he stepped down from the post when he was charged with sexual assault in new york. coming up our documentar

e.u. at konami government but are refusing to expand the bailout fund and release euro bonds. because activists say a british investigation.

e.u. bailout fund and of the release of euro bonds which many experts said could prove to be a viable solution the french and german leaders put the emphasis on closer integration of e.u. countries as a way out of the crisis political analyst and author f william and believes the proposed measures just won't be enough and will only create the illusion of stability. i think the collective economic government that merkel and sarkozy are talking about is really a desperate political ploy to try to create the illusion of stability where the underlined stability doesn't yet exist there is no political will not in germany nor in the rest of the eurozone countries for as surrendering national sovereignty to a collective entity that has any decision powers so it's simply a shimmer that's been thrown out there to try to calm the markets the alternative really is is to get a stable export market relations and i think above all with russia the central asian republics china and the rest of asia in the middle east and if that is created then you can have a growth vector that leads you out of this debt impa

e.u. bailout fund suggesting that it's only and spain collapse if their economy goes on and that she and germany europe's largest economy won't help instead merkel is piling the pressure on the states for even more painful measures that it's at least prime minister silvio berlusconi says he'll bring forward the government spending cuts in italy boy a year now italians already furious saying they'll oppose those measures so there were talk of a national strike and it's really at the moment obviously worrying news there the g seven g twenty groups of leading economies have held an emergency conference call to say that they've got the situation under control but investors are voting with their feeds here in europe and they say they just don't trust them the fact that's america's in panic off the losing its aaa credit rating and it's squeaky bum time for investors at the moment. right daniel bush told live from brussels thanks for that. now the debt crisis in the u.s. trade or it uncertain despite athol being a very good buy a last minute deal in congress last week as were important i reports there'

e.u. bailout of greece requires investors to take a loss of what they hold and one of the lloyds of build an even bigger loss yesterday lost. ok well just briefly why is the panic that was specially since america finally decided on dealing with its debts well it's because greece floor limber scary is enormous but what we're really frightened italy's crisis talks with the european union because the eurozone is number three economy or even worse the global economic crisis in two thousand and eight in fact there was any time in the euro's history and investors are also coolio of splaying to record numbers and use them to drive countries fall where we really are in trouble and it's the investors who make good decisions that one of the world's biggest lenders. slowish has exposure to a time in government that goes well lose other troubled countries like greece ireland the portugal which suggests they just sort of believe that those countries promise is that they can get their house in order or critical. but it's also all those cars on here in our business to ask is keeping a close eye about a

e.u. bailouts of greece requires investors to take a loss on what they hold and the royal lloyd's of build an even bigger loss yesterday on losses ok well just briefly why the panic that was specially says america finally decided on dealing with its debt. because greece law and the scary messages are not what we're really frightened italy's crisis talks with the european union biggest problem of the eurozone is number three economy or even worse than at the height of the global economic crisis in two thousand and eight in fact there was any time in the euro's history and investors are also pulling out of splaying to record numbers and leave them to drive countries fall if we really are in trouble and it's the investors who make the decisions and one of the world's biggest lenders. has slashed his exposure three times in government that as well as other troubled countries like greece are in the courts which suggests they just sort of believe that those countries promise is that they can get their house in order or credible. my carry through is a hong kong basic second of headhunter and busi

e.u. bailout want to expand to help deal with the question. also wants the fund to be able to buy government bonds the crisis is now in the gulf in two of its largest economies italy and spain both countries saw their borrowing costs shoot up again but even omics journalist patrick young says the banks have to stop cashing in on the troubles. begin repeating unions be alight fundies on the verge of running out of money as soon as one of the. major economy such a spanner italy default and every day the market is saying it is terrified of the debt that has been built up in the system and it's appalled by the fact that nobody in the euro zone wants to actually lead a side of this problem i think the public is being kept in the dark and it's been sent a lot of smooth messages from the political classes that don't really hold up to the stark reality of markets i think the problem is that ultimately banks are going to have to lose money as part of this entire play they originally bought a lot of these bonds thinking that would be an endless nerve of

e.u. bailout fund suggesting that if it's only and spain collapse if their economy goes under that she germany europe's largest economy won't help instead merkel is piling the pressure on the states for even more painful measures that it's only as prime minister silvio berlusconi says he'll bring forward the savage government spending cuts it's only by a year now it's already furious thing bill oppose those measures so there are talk of a national strike you need to be at the moment obviously worrying news there expose thing for more moves to be gone for europe to recover from this crisis the italian government one point eight trillion euros now that means nothing to anybody but that is bigger than the total government debt arland portugal and greece put together before the end of the year it will need to sell bourne's debt which is equivalent to the whole greek government bond market in other words all of the greek debt that we've been talking about for weeks and weeks and weeks is being . italy is huge need is just big to manage to anyway be rescued in the way that all their economies have s

e.u. bailout fund or releasing euro bonds to help keep the single currency afloat artie's dental reports. the key decision is they have announced a single united eurozone government they also announced a corporation tax to unite the corporation taxes of germany and france so we're moving slowly towards a fiscal union which is what many had predicted but of course there's one small problem which is the people of europe have been almost because the president of france faces an election next year where he's already trailing behind his rivals and suspects this may make him even more important because the people of europe but in polls in a new polls they say that they. are european integration angela merkel the chancellor of germany says they showed great courage to do this and they dismissed the use of euro bourne's which many have said would be the solution agreed eventually they said the euro notes a miracle there not a cure and france and germany won't guarantee all the countries that so they refuse to bail out the royal problems in countries like italy and spain they also denounce the rum

e.u. bailout of greece requires investors to take a loss on what they hold and one of the lawyers are built an even bigger loss yesterday on borish losses ok well just briefly why the panic that was specially since america finally decided on dealing with its stats really is because greece reuland the scary risk is enormous but what we're really frightened italy's crisis talks with the european union because the eurozone is number three economy or even worse look at the global economic crisis in two thousand and eight in fact there was any time in the euro's history and investors are also clearance of splaying it record numbers and use them to join countries fall that we really are in trouble and it's the investors who make the decisions and one of the world please let me just break your bank a slush has exposure to time your government bit as well lose out of trouble countries like greece are in the fourth school which suggests they just so believe that those countries promises that they can get their house in order or credible. and i thought all those cars on here are too ya business task

e.u. bailout fund to expound germany's finance minister project of the call saying questioning the decisions of the recent use summit would only cause more worries on the markets economic journalist patrick young says it's high time of banks start cashing in on the troubles. through the european union's bailout fund is on the verge of running out of money as soon as one of those major economies such as spinner italy default and every day the market is saying it is terrified of the debt that is being built up in the system and it took hold by the fact that nobody in the euro zone one stock she leader so i can this problem i think the public is being kept in the dark and it's been sent a lot of smooth messages from the political classes that don't really hold up to the stark reality of markets i think the problem is that ultimately the banks are going to have to lose money as part of this entire play they originally bought a lot of these almost thinking there would be an endless nirvana of cheap interest rates for all of these countries and effectively they give it up but players over governme

e.u. bailout fund suggesting that if spain collapse if their economy goes on that she germany europe's largest economy won't instead mcaleese piling the pressure on those states for even more painful measures that it's in these prime minister silvio berlusconi says hugh bring forward the savage government spending cuts you need to leave boy a year now italians already furious saying they'll oppose those measures so there are talk of a national strike committee at the moment obviously. the big g. seven g. twenty groups of leading economies have held an emergency conference call to say that they've got the situation on the control but investors are voting with their feet here in europe and they say they just don't trust them. that's america's in panic off to losing its aaa credit rating and it's squeaky bum time for investors at the moment. well johan over editor in chief of trans magazine which is belgium's leading business journal says although this plunge isn't as sharp as the two thousand and eight fallout the two still bear comparison. lehman was a kind of big bang where it's now we are mor

e.u. bailout fund suggesting that if spain if their economy goes on that she and germany europe's largest economy won't instead mcaleese piling the pressure on those states for even more pain from the measures that it's in these prime minister silvio berlusconi says hugh bring forward the savage government spending cuts he needs and the boy a year now it's already furious thing bill oppose those measures so there are talk of a national strike committee at the moment obviously. the big g. seven g. twenty groups of leading economies have held an emergency conference call to say that they've got the situation on the control but investors are voting with the feeds here in europe and they say they just don't trust them the fact that's america's in panic off the moving its aaa credit rating and it's time for investors at the moment. well asian markets have closed in the red following a rocky trading session. has more from a third largest economy india all the markets are down here reacting very strongly we're hearing strong words from chinese political leaders as well one chinese newspaper actu

e.u. bailout of greece requires investors to take a loss on what they hold and what of all lloyds are built an even bigger loss yesterday on morrish last. ok well just briefly why is the panic there was specially since america finally decided on dealing with its debts because greece reuland the scary design of what we really frightened italy's crisis talks with the european union biggest problem of the euro zone as number three economy or even worse than the global economic crisis in two thousand and eight in fact they're worse than that any time in the euro's history and investors are also clearly out of spain it record numbers and it is the joy of countries that we really are in trouble and it's the investors who make the decisions and one of the world's biggest lenders your brain has slashed his exposure to the time you've got to move this as well as other troubled countries like greece ireland the portugal which suggests they just over leave those countries promise is that they can get their house in order or credible. reason is a hard call basic second of head hunter and business consu

e.u. bailout of greece requires investors to take a loss on what they hold and royal lloyd's are built an even bigger loss yesterday morrish losses ok well just briefly why the panic there was special reasons america finally decided on dealing with its debts because greece laura linger scary best doesn't know what we really frightened italy's crisis talks with the european union biggest problem the eurozone is number three economy or even was. the global economic crisis in two thousand and eight in fact there was any time in the euro's history and investors are also clearly out of splaying it record numbers and if the joint country falls then we really are in trouble and it's the investors who make the decisions and one of the world peace members campaign has slashed his exposure to time in government that as well as out of trouble countries like greece spoiling the portugal which suggests they just don't believe that those countries promise is that they can get their house in order or credible ok thank you very much for that i will certainly be following this closely artie's daniel bushe

e.u. bailout fund suggesting that if it's early and spain collapse if their economy goes under that she germany europe's largest economy won't help instead merkel is piling the pressure on the states for even more painful measures that italy's prime minister silvio berlusconi says he'll bring forward the savage government spending cuts in italy by a year now it's already furious saying bill oppose those measures so there are talk of a national strike in italy at the moment obviously worrying news there a big g. seven g. twenty groups of leading economies have held an emergency conference call to say that they've got the situation under control but investors are voting with their feet here in europe and they say may just don't trust them the fact that's america's in panic after losing its aaa credit rating and it squeaky bum time for investors at the moment now to turn a bushel in brussels well asian markets closed in the red to fall in a rocky trading session. has more from asia's third largest economy in the. all the markets are down here asia is reacting very strongly i we're hearing strong w