the european central bank is offering unlimited loans to banks for as much as the gear in order to stave off a possible credit crunch. the bank of england says it will pump another 75 billion pounds into the british economy. >> this was a jean-claude trichet/press conference as the president of the european central bank. retirement celebration it was not. rather, a hard-headed look at mounting problems. interest rates remained at the same, but he signaled concern about slowing economies, even as inflation remains above the ecb's targets. >> the government decided to keep the key ecb interest rates unchanged. this confirms our view that inflation is likely to stay above 2% in the months ahead or to decline. conditions are likely to dampen the pace of economic growth in the second half of the year. >> he said the ecb would take measures to lend to banks that might find themselves in difficulty because they have lent to greece or other countries with public finances in trouble. analysts are already concerned at times that banks are increasingly loath to lend, and finding it harder to raise

the consequences of them not doing that and failing would be much more serious. >> the european central bank is worried about the downside of an increase of unemployment and slowing growth even as euros on inflation remains at 3%. there is also the fear of how to bolster the banks. that would mean serious money if you want to tell the markets that banks will remain safe. the water is getting much chop year. -- choppier. >> despite the announcement, president ramallah -- president obama made a fresh appeal to european leaders to resolve the crisis. he strongly hoped a clear plan of action would emerge with the next month. >> what i had been seeing of the last month as a recognition by record -- by european leaders of the urgency of the situation. i am confident they want to get this done. i think there are some technical issues they are working on in terms of how they get a big enough -- holiday gift and not -- how they get enough firepower. euro members to maybe in a weaker position. they have to act fast. >> the united nations says almost 3000 people have died in syria since pro-democracy p

but without having that money co from the european central bank it simply can't be as effective. he european central bank is the only institution in europe whose firepower is unquestioned. they can lend as much as they want if the have the conviction the refusal t play that role is the single biggest strumable--tumbling block. >> the iro of all of this is thathis firewall, this rescue couldave been very easily provided by the ecb, the european central bank making clear that it stood behind solvent countries. because it is unwilling to do that. because it's unwilling to provide financing directly to this rescue fund t becomes much, much me difficult so they have chosen these kind of two alternatives. one is this special purpose vehicle that greg talked about which is trying to be somewhat similar to what was used in the u.s. and the other is to use the rescue money as a kind of first loss insurance. so for example, italy a new bond the rescue money will provide credit that says if you default we'll insurance you against the first 20% loss. because they insurance against the first 2

so daniel it's almost as though the european central bank's now washing its hands off the problem saying it's done its part so what happens next. well the patience of european central bank does seem to be running l.t. says that it can't really take the whole burden on itself it really needs the governments to come through the european governments to come through and take some action because the latest country problems in spain it's seeing problems with its solidarity a failure of solidarity is how the downgrade of its rating again which is going to make it even harder for it to raise money and pay off its debts we're expecting protests tomorrow perhaps the biggest protests so for new austerity measures in spain now russia's prime minister has come out and said that your risk of much could solve this problem if they wanted to. win. the crisis is more political than a financial issue according to different estimates between one and one and a half trillion dollars is needed the number is big but the eurozone can handle it it's a political issue because in order to get out of those resources

then there is the european central bank. despite resistance from german banks, the ec be has been buying bonds from troubled countries. should this prove worthless, germany could part with more taxpayer money. in addition, the issuing bank of greece, portugal, italy, and spain are getting tax infusions from the eu, known as target loans. these are also put by germany for 113 billion euros. all germany's stakes currently add up to 379 billion euros. this is far more than the german federal government have budget for the entire year of 2011. >> our business reporter is with us now for more input. we are talking huge sums of money. the german taxpayer is not happy about putting this bill. what does this mean for the german economy? it is horrible for the taxpayer. the burden for the german government is very tight. some experts already expect a recession. >> why is it so crucial for banks to accept this severe hair cut voluntarily? >> it is very important but the rating agencies keep their current ratings. if they see the hair c

over the european central bank says political decisions are needed to save the region's finance. the european central bank is washing his hands of the crisis. and governments now. all have more in just a few moves. now four pm on a friday here in moscow this is artsy with me we're reception welcome to the program the u.n. human rights chief has called for international action in syria to avoid a full blown civil war as the number of people killed in the conflict by now exceeds just over three thousand activists claim thirty six died in the latest clashes between security forces and i meet defectors and fought alongside the opposition but the government insists they're not revolutionaries but rather the gangs that are threatening the public. story. about one hundred eighty kilometers north of the mass this is a city of honest on the site of five days of recent deadly clashes between security forces and protesters in which at least thirty died it's close of the cities of homs and hama where most anti assad protests would sneak in place evidence of fighting in oliver stone is going t

true sure pull for the month of september which is due out on friday and that's despite the european central bank president. speaking of increased downside risk to europe speaking of which a second look at the european shares and they are also seeing a very positive session second session in a row european central bank is offering new emergency loans to banks to help steady the financial system and their financial stocks were gaining in russia pretty much the same picture very positive finally a rebound after four sessions of losses in the r.t.s. game four and a half percent my sex more than four percent in the first day session alone if we look at the main movers financials also feeling wells burbank up four point eight percent shares of course gazprom are five point three percent on higher oil prices but our spot scare was the outstanding gain of the coal miners up almost eleven percent as you've said at a stop negotiating the sale of its forty percent stake in the company's. business will be back in fifty five minutes time with a final first day business update. thank . you. feet. hello this i

stubborn debt crisis that there have to be the lead of last resort and not the central bank if continued activism from the european central bank were to continue in helping out europe with the debt crisis then there would be a moral hazard of sorts whereby countries would start to become too dependent assistance from the european central bank and would not. produce enough of an effort in trying to stabilize their own finances and addressing the key ills of the weaker links of the europeans and to come out of the crisis so i think it's a signal that is meant to put greater pressure on countries that are experiencing fiscal difficulties in order to get their act together to stabilize the fiscal path to stabilize deficit and to improve the state of their finances. so you look at the markets this traditionally we start with commodities oil is mostly extending gains from the highest close known as the month investors are bullish on crude as european leaders are pledging to deliver a plan to keep the debt crisis from snapping demand for fuel brands of this is down just one cent per barrel lights we desire thirty two cen

and the european central bank says it's not done enough and it's time for governments to take the lead in saving the region's economies spain's credit score is slashed. from.

the european central bank has called on national governments to do their part to ease the debt burden. spoke ahead of a key meeting of will finance ministers who are gathering in paris to hammer out some lucian's to the crisis our europe correspondent daniel bushell. the patience of european central bank does seem to be running out it says that it can't really take the whole burden on itself it really needs the governments to come through the european governments come through and take some actions because the latest country problems with spain it's seeing problems with its solidarity a failure of solidarity is how the downgrade of its rating again which is going to make it even harder for it to raise money and pay off its debts we're expecting protests tomorrow perhaps the biggest protests so far over you will start to measure in spain now russia's prime minister has come out and said that your government could solve this problem if they wanted to when you might. crises more political than a financial issue according to different estimates between one and one and a half trillion dolla

from european central bank bank. shareholders are being. called to pay again and again and again are the. taxpayers in the euro zone despite germany having dated positively to expand the size and power of the year pin band out to fund already critics are questioning whether that will be enough insights now turn to the many challenges the year is still faces heat the problem with a move from. other european countries then the german banks movie and. the european you know. will be affected. not just for being with past measures failing to have the facts and it's political leaders continue to struggle to convince the public the future of the euro is a still hangs in the balance but these protests. continue many people hate it greece is a country now at risk of having not only a financial but a democratic deficit as well sir. outside the parliament building in athens egypt's ruling military council has agreed to to amanda the country's election law giving in to the demands of protesters political groups also threaten to boycott upcoming polls f

if continued activism from the european central bank were to continue in helping out europe with the ebt crisis then there would be a moral hazard of sorts whereby countries would start to become too dependent assistance from the european central bank and would not. produce enough of an effort in trying to stabilize their own finances in addressing the key ills of the weaker links of the european zone to come out of the crisis so i think it's a signal that is meant to put greater pressure on countries that are experiencing fiscal difficulties in order to get their act together to stabilize the fiscal path to stabilize deficit and to improve the state of their finances. from deutsche bank russia there were these comments take a look at the markets this sell oil is extending gains from the highest close in almost a month investors are bullish and fruit is european leaders pledged to deliver a plan to keep the debt crisis from snapping the demand for fuel this hours up nineteen cents light sweet one and a half dollars per barrel. european stock markets are high on hopes years and officia

if continued activism from the european central bank were to continue in helping out europe with the crisis then there would be a moral hazard of sorts whereby countries would start to become too dependent on such assistance from the european central bank and would not. produce enough of an effort in trying to stabilize their own finances in addressing the key ills of the weak or the links of the europeans to come out of the crisis so i think it's a signal that is meant to put greater pressure on countries that are experiencing fiscal difficulties and knowledge to get their act together to stabilize the fiscal path to stabilize deficit and to improve the state of their finances. are going to be a markets we started originally with commodities or oil is extending gains from the highest close in almost a month versus a bullish going through those european leaders pledged to deliver a plan to keep the crisis from snapping demand for fuel brant is trading at one hundred twelve dollars per barrel light sweet as adding forty cents to eighty seven dollars twenty cents back. to the stock mark

and the european central bank says it's. time for governments to take the lead in saving the region's economy. story and business process is ready to act against the european energy legislation banning energy supplies gas pipelines the need for a pullback the book and more on that. around the clock around the world this is r.t. live in moscow the total number killed in the syrian conflict nell stands at well over three thousand activists sent least twelve of guided fresh bottoms off to security forces opened fire on protesters were calling for nationwide demonstrations in support of army defectors who joined the opposition the government insists that revolutionary gangs that threaten the public as well. about one hundred eighty kilometers north of damascus is a city of unrest on the site of five days of recent deadly clashes between security forces and protesters in which at least thirty died it's close to the cities of homs and hama where most anti assad protests have been seen was evidence of fighting in oliver stone is goi

jobless claims rose less than expected last week and also this by european central bank president speaking of increased downside risk to the region speaking of europe european stocks in the life with banks leading against the european central bank is offering new emergency loans to banks to help steady the financial system therefore the optimism and russia finally saw a bounce back after several sessions of losses. for alpha said that my sixty four percent if you look at some of the main movers is the outstanding gain again i just on the eleven percent as one of its main shareholders you have said it will stop negotiations on something you forty percent stake in the company envision financials are also positive. business r.t. will be back in fifty five minutes time kevin is next with the headlines to stay. even the books of the. sacred. magic is the essence of life. whether it is a buddhist prayer. or a shamanistic which. crossroads of two religions. faith is strong and spirit is hard. mission free accreditation free clothes for churches free commitment three. three stooges free. old free

jobless claims rose less than expected last week and despite european central bank president john to a tree shape speaking of increased downside risks to the region european stocks in turn have also seen a very strong second in a row with a session on thursday the european central bank is offering new emergency loans to banks to help steady the financial system therefore banks were the main leaders and the russia finally bounced back after four sessions of harsh losses r.t.s. is up four percent at the close my six more than four percent if you look at some of the individual the share movements on the my six world logically gazprom has other energy shares was trading up five point three percent of the clothes that are . eleven percent the company said that while its one of its major shareholders your dad says it stopped negotiating the sale of its forty percent stake in the company and banking stocks were also jumping on the bandwagon of financial stocks going up massively and i continued that concludes this edition of the business news on. the headlines. moved. to. tears and. if. if.

of the european central bank says it's don't care and it's time for governments to take the lead in saving the continent economies the top stories this hour. around the clock around the world of this is r.t. live in moscow the total number killed in the syrian conflict now stands at one over three thousand activists at least twelve of died in fresh violence our security forces opened fire on protesters were calling for nationwide demonstrations in support of army defectors who joined the opposition and government insists they're not revolutionaries but armed gangs that threaten the public so that syria has more. about one hundred eighty kilometers north of damascus is a city under a stone a site of five days of recent deadly clashes between security forces and protesters in which at least thirty died it's close of the cities of homs and hama where most anti assad protests have been seen in place evidence of fighting in oliver stone it's plain to see there was an air of suspicion it turns mood only broken by children now smiling but only two weeks ago these youngsters were witness to violen

out of the european central bank says it's now.

european central bank is washing its hands of the crisis saying it's. now taken me all have more in just a few. worldwide news twenty four seven this is r.t. live from moscow with me will research. defectors have reportedly crossed over to fight alongside opposition forces in northern syria and the government insists that just gangs threatening the public not revolutionaries on the u.n. a human rights office has raised the tally of those killed during the seventh month long uprising to now over three thousand. reports. about one hundred eighty kilometers north of the mass this is a city of understand the site of five days of recent deadly clashes between security forces and protesters in which at least thirty died it's close to the cities of homs and hama where most of protests have been taking place evidence of fighting in oliver stone it's plain to see there was an air of suspicion. only broken by children now smiling but only two weeks ago these youngsters were witness to violent. in their hometown and like this eleven year old we heard very heavy fi

gains from wednesday's very strong performance european central bank is offering new emergency loans to banks to help steady the financial system russian market spinal you saw a comeback after four sessions of deep losses the r.t.s. gaining four and a half percent my sixty four percent at the end of the first day session well logically enough gas problem was up five point three percent as were other energy shares on higher commodity prices call mine are spot scared us the outstanding form of the session eleven percent gains as you but i'll says it stopped negotiating the sale of its cool to the cent stake in the company banking stocks were also gaining burbank around five percent in positive territory but that concludes this edition of the business news on r.t. kevin is next with headlines to stay with us. if. the british stock. market. find out what's really happening to the global economy stronger for no holds the global financial headlines kaiser reports. this is our top story. thousands of wall street activists furious being used to prop up corporate america contestants staged th

the european central bank is washing your hands of the crisis. and governments now have to take the lead or have more than just the free movement of. the world's second largest maker of consumer goods unilever is buying into russia. more on the deal in business in about twenty minutes. broadcasting live from the center of this is artsy with me rule research showing. defectors have reportedly crossed over to fight alongside opposition forces in northern syria but the government insists they are armed gangs threatening the public and they're not revolutionaries and the u.n. and human rights office has raised the tally meantime of those killed during the seventh month uprising at over three thousand participants are still. about one hundred eighty kilometers north of the mass this is a city of on the west on the side of five days of recent deadly clashes between security forces and protesters and which at least thirty died it's close to the cities of homs and hama where most anti assad protests have been taking place evidence of fighting in oliver s

and the european central bank says it's done enough and it's time for governments to take them.

and the european central bank says it's done all it can and it's now time for governments to take the lead in saving of the region's economy. it is friday evening here in moscow you without me welcome to the program seven people have been killed in separate incidents by syrian security forces who reportedly opened fire on the regime protesters the total number of casualties in the conflict is now well up of three thousand and that's prompted the human rights watch group in the chiefs a call for international action so avoid a full blown civil war activists claim troops also clashed with army defectors who fought alongside the opposition and the government insists nothing but bandits to threaten the public are silly reports. about one hundred eighty kilometers north of the mass this is a city of on the last on a site of five days of recent deadly clashes between security forces and protesters in which at least thirty died it's close to the cities of homs and hama where most anti assad protests have been taking place evidence of fighting in oliver stone is plain to see there was an air

the european central bank says it's done only when it's time for governments to take the lead and saving. the companies . and business runs his way to act against new european energy legislation banning energy supplies from owning gas pipelines joining me on that and that this was a question. around the clock around the world this is our to live in moscow the total number killed in the syrian conflict now stands at one over three thousand activists say at least twelve people have died in fresh violence often security forces opened fire on protesters are calling for nationwide demonstrations in support of join the opposition the government says they're not revolutionaries but gangs that threaten the public so syria has more. about one hundred eighty kilometers north of the mass this is a city of understand the site of five days of recent deadly clashes between security forces and protesters in which at least thirty died it's close to the cities of homs and hama where most anti assad protests have been seen in place evidence of fighting in oliver stone is going to see it was an air of susp

and the european central bank says it's done all it can it's now time for governments to take the lead in saving the region's economy. and this is this hour the world's second largest maker of consumer goods. and agency percent stake in russian leading cosmetics maker an idea worth four hundred euros germany for more on that and other stories. it is now a five pm on friday here in moscow r t is broadcasting worldwide. the u.n. human rights chief has called for international action in syria so avoid a full blown civil war as the number of people killed in the conflict now exceeds three thousand and. thirty six died in the latest clashes between security forces and army defectors who fought alongside the opposition and the government insists they're not revolutionaries but gangs that threaten the public. has the story. about one hundred eighty kilometers north of the mass this is a city of on the west on the site of five days of recent deadly clashes between security forces and protesters and which at least thirty died it's close to the cities of homs and hama where most anti assad prote