nicolas sarkozy saying it was too herly. let's have a look at the three proposals. what we had was a proposal to have eurozone leaders meeting at least twice a year. those discussions would be designed to coordinate economic policy further to move one step towards a fiscal union. we of course have a monetary union, but we don't have the fiscal rules to back that up. we also have a plan to tax financial transactions, perhaps to curb some of the speculation in the bond markets that has now priced three eurozone countries into bailout territory, portugal, ireland and greece. finally we had a call to force eu member countries to adopt golden standards designed to balance their budget deficits. that last point, though, some economists have been telling me may be wishful thinking. there's a reason for this. we should recall for the moment that the limits for the deficits for these eurozone countries was just 3%. countries like france have a deficit that stands in excess of double that own figure. it's going to be increasingly difficult bringing down those deficits, partic

nicolas sarkozy has added for closer economic governance. the loss of sovereignty that could result from the eurozone scheme, as well as the highest interest rate germans would pay, could be an immensely difficult sell for angela marco. and yet french and german leaders will be acutely aware that they will need something big to reverse the downward cycle of the past few months. it is the integrity of the single currency at stake. that is why huge emphasis is being placed on the meetings here at the palace. the germans are already plain down expectations. they know the decisions and the leaders made here could well determine the future of the eurozone experiment. bbc news, paris. >> colonel gaddafi has called on his supporters to free libya from traders and nato. his broadcast appeal was made over a telephone line from an undisclosed location. rebel forces advanced into two accounts that control access to tripoli, zawihah and gharyan. the rebels will control the main supply route and, from aaa. >> tripoli is starting to feel like a city under

power to help get the eurozone out of its debt crisis chancellor angela merkel and president nicolas sarkozy want a single euro zone government with the power to overrule decisions made by individual nations well let's cross the rockies daniel was in brussels this is all just being discussed they just addressed the media what else was said following that merkel sarkozy meeting. yes the key decision is they have announced a single united eurozone government which can overrule national governments they also announced the 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 the one small problem which is the people of europe have been almost nicolas sarkozy the president of france faces an election next year where he's already trailing behind his rivals and. this may make him even more unpopular because the people of europe you know split in poland in a pin you polls they say that they don't won't close the european integration angela merkel the chancellor of germany says they showed gre

just to watch here is nicolas sarkozy a rotting cow by over there. opinion of him at the moment. his opinion ratings are the lowest since he took office because his terrible reckless mismanagement of the economy. cozy nonetheless is taking a foreign policy view which we've seen all along since. of playing global management on foreign policy through nato operations in afghanistan and libya and cote d'ivoire now what you have to look at this. began yes this began as an east west dialogue with the russian foreign minister saying be cautious now we must look it's a north south conflict and south african foreign minister said today they will not recognize the interim government if mr gadhafi is. so we're beginning to see the seeds of a north south conflict as before we saw the seeds of west and cautionary. cautionary statement from the russian foreign minister. can explain a bit and this is the north south conflict. that the south african and indeed let's quickly talk about the african support for gadhafi the african union hasn't exactly been that thank you very much right thank you v

nicolas sarkozy interruption his thoughts interrupted his vacation -- nicolas sarkozy had to interrupt his vacation. traders in france, italy, spain, and belgium wealth up to a new straitjacket, a ban on short-selling. some say it was introduced by countries at most risk of a sovereign debt crisis. the message to european leaders is that restricting trade does not change the fundamental problem. without more funds, the currency might be near the end of the line in its present form. >> for more on this wild week in the global markets, i'm joined by the assistant managing editor who wrote this week's cover article entitled "the decline and fall of europe and maybe the west." is it really that bad? >> it is it really -- this week has been a wild ride. but we have seen is a real crisis point. europe will blow. the debt levels are unsustainable. we just heard about the new austerity measures in italy. the question is whether europe will come together and whether the germans will say that they will bail out italy and spain. it is coming down to that. this is a monetary union plus a political

nicolas sarkozy and angela merkel have bound to give the euro zone a true economic government. speaking after talks in paris, the leaders said that they would impose a tax on financial transactions, seeking to impose a governing body headed by the european union. they insisted that the existing blocks, the bailout fund is sufficient. >> president sarkozy said that he and change it -- chancellor merkel would commit to a balanced finances, and that they should write a goal in to their constitutions. under pressure to produce redoubt -- results because of recent market turbulence, they are under pressure to produce commitment to the common market currency. >> we have decided to work on strengthening the euro as our common currency. germany and france are committed to this end. it is obvious that the european union must integrate financial and economic policy making. >> they called for a limit on euro zone nation debt. to be chaired by the european council president. >> we hope that the 17 member states of the euro zone will commit to blighting balanced budgeting in to their consti

power to host the head of libya's transitional national council nicolas sarkozy said that he and nato will continue to supply military equipment to the rebels as long as they need it no he didn't mention the un resolution authorizing intervention in libya which many think actually expressly rules out military supplies to libya in the rebel leader. said that he sees a driving force in the nato campaign against gadhafi troops the french and british have invited libya's government to a meeting on september the first with e.u. leaders that they will meet quote not military allies but friends but the british prime minister's office has also released a statement saying that the meeting will help to build a free and democratic libya during wednesday's meeting sarkozy also cuts france's economic growth for costs and announced eleven billion dollars in. measures the french president being accused of trying to bury this very news in the euphoria of war victory but they're all signs that the war isn't producing the results because they wanted more in this report. was the first power to recognize

he spoke today to french president nicolas sarkozy about the developments in libya. as you know president nicolas sarkozy talking to the president also about foreign aid and plans for a french international partners meeting next week on this very subject. a few moments ago, i also reached u.n. ambassador susan rice and asked her about the next steps for the rebel government. >> as you know it's a fluid situation and there's still pockets of fighting in the capital of tripoli and elsewhere. but what seems clear is that the rebels have made enormous progress and have reached the tipping point where it seems certain the days of the gadhafi regime are coming to a close. that said, what will come next is what we hope and expect will be an inclusive transitional government. of which is tnc will form the core. they have put together a rather detailed road map for how they see the transition unfolding. but this is going to be a challenge for them and for the libyan people because there are no institutions of state. there's no history of accountable or normal governance of an

angela merkle is not renowned for her sense of urgency, but no longer can she are nicolas sarkozy hide from the decisions that must be taken. the longer europe takes, the more intractable the problems seem to become. yet, there was discussion of a bigger bailout fund, no sign that germany or france will fully guarantee the debts of their neighbors, and no sign that either country has found a solution to the crisis threatening the growth of their own economies. >> we think member states in the eu have to be more responsible. they have to ensure that the points of this package be maintained. that means we have to look at the budget. we have to reduce the, in debt. >> today's emergency summit was designed to reassure investors. but ahead of the meeting, european stocks were falling again. the major reason was european growth figures for the second quarter, flat at 0.1%. is that a blip or a worrying sign contagion is spreading to the engine room of the european economy? in france, polls suggested 46% of people asked the german chancellor to find the answers. less expressed the same confide

ignore the advice with investors on how to save the euro zone from going on angela merkel and nicolas sarkozy want to make government that are refusing to expand the bailout fund and release your awards. aviation the sensation is a fifth generation pfizer has made its international debut. isn't flying out it's not just cutting edge aircraft take to the skies in the capital. now the republicans up here in the russian caucasus is gearing up for an early election a following the death of its president stakes are high for any future leader as the region still recovering from conflicts with neighboring georgia next week one of the presidential candidates prime minister. about the challenges his country faces . we are in the republic of a pause here where preparations are under way for the august presidential election so hey sean what is the country's prime minister and also one of the candidates and he's here with us today the upcoming election is the second presidential election after a clause in games recognition of what does it say about the policy as more than an independent state. we have bee

power to help get the eurozone out of its debt crisis chancellor angela merkel and president nicolas sarkozy want a single eurozone government with the power to monitor whether member nations are following its decisions daniel bushell has the latest now force in brussels. the key decision is they have a single united euro zone government which can overrule national governments 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 lost because sarkozy 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 your you know his but in polls in the opinion polls they say that they don't you close the european integration angle or 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 agr

or strongest economies fail to claim calm fears of a deepening crisis angola merkel and nicolas sarkozy call for the creation of a central economic body which would ensure euro zone members take more financial responsibility but they brushed aside suggestions of expanding the e.u. bailout fund or releasing euro bonds to help keep the single currency afloat artie's daniel bushell 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. because the the president of france faces an election next year where he's already trailing behind his rivals and suspected this may make him even more important because the people of europe haven't been asked but in polls in the opinion polls they say that they don't need to omit the european integration angle or merkel the chancellor of germany says they showed great courage to do

the french president nicolas sarkozy is announced to hold a conference with the leaders of the libyan transitional government later this week and artie's daniel bushell brings us more now from paris the french defense minister says that has called for me to give paris to plan calls for libya french france's foreign ministry says that troops are on the way level and the nicolas sarkozy the french president will meet with groovy head of the transition later today france is that the transition. as it moves forward now as it plans its future. is a potentially prosperous country but it needs assistance from the west to construe those plans to brussels the representatives have said that's as the you. state seems to be taking a backseat in these negotiations they see an opportunity to fill that vacuum you admitted that hard work lies ahead and that the divisions between rebel factions means that it will be a difficult time because when there was a single enemy there fee was very easy for various factions some with very different interests to come together and now there are fears that this ma

ignored the advice of investors on how to save the euro zone from going under angela merkel and nicolas sarkozy want an economic government but are refusing to expand the ballot fund and release of euro bonds. plus activists say a british investigation into torture allegations is a farce after the government says only it will decide whether to actually release the results it's claimed british officers have been involved in the forceful interrogation of prisoners overseas for years. now the republic in russians and russia's caucuses is gearing up for an early election following the death of its president stakes are high for any future of leader as the region is still recovering from conflict with neighboring georgia next we talked with one of the presidential candidates prime minister sergei shamba about the challenges his country faces. we are in the republic of a pause here where perpetrations are underway for the august presidential election sergei sean but is the country's prime minister and also one of the candidates and he's here with us today the upcoming election is the second presidenti

president nicolas sarkozy has political rivals in the dispositive moment because the libyan people i was going to call them he reiterated the backing of the global provisional council he will give that speech to immediately give up what he has left as the outcome of brutal victory is no longer in doubt because the idea is that he has immediately ordered his fork in the price and to give way to the legitimate as he called it nuclear north or keep now going that he has really to live transmission in the last twenty four hours and that the libyan people will never allow or go to . a major exporter of energy because he will never allow the collaborator of the french to rule in the new clothes libyan the crushing the uprising in tripoli as brutal troops are closing in on the capital also worrying is that they will tripoli that the rebels were caught food water and electricity to the capitals are you given the all just based because they're very wary but that's only a million now security here in the european union to see a stroke if you will use the international criminal court employment

well the french president nicolas sarkozy has announced he'll hold a conference for the leaders of the libyan transitional government later this week and artie's daniel bushell brings us more details from paris. the french defense minister says that has called for a meeting in paris to plan what he calls a road map for libya french france's foreign ministry says that talks are on the way level and that nicolas sarkozy the french president will meet with djibril the head of the transition later today france says that the transitional council will need help as it moves forward now as it plans its future it added the libya is a potentially prosperous country but it needs assistance from the west if it's to comes through with those plans to brussels the you were representatives have said that as the united states seems to be taking a back seat in these negotiations they see an opportunity to fill the vacuum admitted the hard work lies ahead and the deep divisions between rebel factions means that it will be a difficult time because when there was a single enemy get their feet it was very e

map for libya french france's foreign ministry says that talks are on the way level and that nicolas sarkozy the french president will meet with djibril be head of the transition later today monday france says that the transitional council will need help as it moves forward now as it plans its future it added that libya is a potentially prosperous country it is needs assistance from the west if it's to construe those plans to brussels the you are representatives have said that as the united states seems to be taking a backseat in these negotiations they see an opportunity to fill that vacuum admitted that hard work lies ahead and the divisions between rebel factions mean that it will be a difficult time because when there was a single enemy in gadhafi was very easy for various factions some with very different interests to hold together and now there are fears that this may collapse and there may be a power vacuum fronts in fact claimed that mission in libya is over now defense experts here in the european union are concerned by such statements because with the absence of gadhafi in any sort

president nicolas sarkozy is cutting short his son a holiday to hold an emergency meeting on the euro crisis as fears grow france could be next in line to lose its top credit rating. and activists in russia take matters into their own hands when it comes to catching paedophiles who escaped justice as current sex crimes laws slammed for being inadequate. international news and comment live from moscow this is r.t. with twenty four hours a day just turned midday here in the russian capital sporadic violence has broken out in cities across the u.k. for a fourth night in a row more than half a dozen volunteers spots a flare over the past few days buildings were set ablaze and shops looted hundreds of people have been arrested and one man's been confirmed dead and joins us now from the british capital with the latest we understand the streets of london a relatively calm at the moment but what's the situation like in the rest of the country. yeah much calmer last night as i was going home from the office last night all the shops and buildings had all been barricaded ready for really a nice

meantime the french president nicolas sarkozy will hold talks with the leader of the libyan transitional government later today by telephone and a multinational oil giants have already started to move their workers into now the vacant well fields he's trying to push we're going to the latest reaction now from europe the french defense minister gerard long says that has called for a meeting in paris to plan what he calls a road map for libya french france's foreign ministry says the talks are underway at the highest level and that nicolas sarkozy the french president will meet with gibril be head of the transitional council later today monday france is that the transitional council will need help as it moves forward now as it plans its future libya is a potentially prosperous country but it needs assistance from the west if it's to come through with those plans to brussels the you were representatives have said that as the united states seems to be taking a backseat in these negotiations they see an opportunity to fill that vacuum you admitted the hard work lies ahead and the divisions be

president nicolas sarkozy had a court a row holding the. libyan leader well let me reiterate the backing of the group provisional council you'll get out immediately. you have a letter at the outcome of rebel victory is no longer in bell. should immediately order he's full of the peace process and to give way to the commitments as he called individuals or at least he has really transmissions in the last twenty four hours you've got to leave your people will never allow all of that goes across because you get a major exporter of energy that he will never allow a big. problem approach to rule and also it was libyans are crossing in tripoli as rubble troops are closing in on a crowd sourced from what worryingly that they will really have the room. and electricity to the capital larry given you want to. do this very morning because. i think you're a hero here and you will be used to it because local people use the queen's national criminal court in going they can go to you got to charge you five minutes interventions in the capital because that'

president nicolas sarkozy has political rivals in the dispositive moment the. libyan people call them a really great. backing of the rebel provisional kelto you will get that immediately get what he had left as the outcome of rebel victory is no longer in del bosque the idea that it should immediately all that is forbidden to cease fire and to give way to the legitimate as he called it libya north or the now because he has really to live transmissions in the last twenty four hours you know the libyan people will never allow all of the goods across the globe to be a major exporter of energy that he will never allow the collaborator the equal of the french to rule those libyans to crush the uprising in tripoli as brutal troops are closing in on the capitals also what worrying is that they will really impress the rebels. food water and electricity to the capital where you've given the oldest open with is that very worrying find that for me the billions back now the security here in your opinion to see a flock of people who use the international criminal court in b

president nicolas sarkozy has political rivals in the study of. the libyan people all the myriad created backing of the global provisional caldor nuclear program that immediately. he had left at the ruble victory is no longer in doubt but at the idea that it should immediately all that is forbid the pie and to give way to the legitimate as he called it nuclear north or the now lucky has really to live transmission in the last twenty four hours you know the libyan people will never allow all of the good from a major exporter of energy because it will never allow the collaboration. of the french to rule you close libyans to crush the uprising in tripoli as group of troops are closing in on a crowd source we also know already that they will tripoli that the rebels will. food water and electricity to the councils are you given the oldest open with base because they're very worried that for me as billions in fact security here in the european union to see a flock of people huge international criminal court in boilerplate in thought they did nothing to

president nicolas sarkozy had that he called the rebels in the moment the. libyan people and he reiterated backing a. provisional council he will look cool get out immediately get what he had to lead at the outcome of rebel bigotry is no longer in doubt because the idea to get out and should immediately order his fall is peaceful and to give way to the legitimate as he called it individuals or at least now that he has really. in the last twenty four hours he got to the libyan people will never allow all of that goes across the globe and be a major exporter of energy that he will never allow the collaborators of the french to rule. libya of the crossing in tripoli as rebel troops are closing in on the capital he warns of what they will really help the rebels. water and electricity to the capital there even given the order when it comes to their very worrying. really and i think you're a hero here and you're going to feel as local people the international criminal court in going played in order to justify military intervention in the capital because that's in

ignored the advice of investors on how to save the euro zone from going under and of the merkel and nicolas sarkozy once an e.u. economic government are refusing to expand the ballot fund and release your obama. because activists say a british investigation into torture allegations is a farce after the government says it will decide whether to actually release the results it's going to british officers have been involved in the forcible interrogation of prisoners overseas for years. now the story of the eco warriors who put themselves on the line to protect the environment special report is next. yes so. that's the mission here that's where exactly he is rated ok. for giving a warning to the oriental bluebird that they are violating the emperor he will sanctuary there if you comply with morning so we delivered a serious blow to them in order to be. to walk down the street see a child being abused and do nothing you don't stand there and watch whales die and hold a banner and do nothing. our oceans are dying we've already removed ninety percent of the fish from the oceans and we're continuing to exp

. >> merkel and nicolas sarkozy have stood together, with germany note -- not supporting the idea has -- with france not supporting the idea with germany -- there are voicing fears that are expressed by many that this threat may push up the german borrowing costs. >> we consider this to be the wrong option. there would be detrimental for nations like germany that are economically strong. that have a good credit rating and pay lower interest ratings. >> the opposition believes that the coalition is blocking the best way out of the crisis. >> in my view, germany is opposing the one very effective means of limiting speculation, the joint bonds. >> some say more broad cooperation with it keep speculators from playing these nations against each other in the market. >> we need a clear statement about how the cooperation will take place, not just in crisis management but economic policy as well. >> the message from the chancellor's office is clear, berlin is against european bonds. >> some leading groups are backing the call for these bonds, despite the government's opposition. the president

. >> el presidente francÉs nicolÁs sarkozy pospuso sus vacaciones. >> es el miedo y la desesperanza quenifica? es un instrumento muy sensible y muy irregular, sobre reacciona, es arisco, histÉrico de alguna manera. >> el efecto es a corto plazo. >> la bolsa de nueva york se habÍa recuperado cuando la reserva dijo que planeaba mantener los intereses bajos pero los inversionistas este miÉrcoles echaron un ojo y como ya el panorama es menos que favorable el peso mismo ganÓ la batalla. >> amÉrica latina tambien sufrÓo el coles taz aunqtazo. >> hay preocupaciÓn en que tienes inversiones en la bolsa quizÁs su bondfondo de retiro ae la pÉrdida no la sienta a marcar. >> y eso se traduce en que lo que menos se necesita en estos momentos que viene a ser desempleo, jorge. >> martÍn muchisimas gracias y seguimos con el tema porque usted por ejemplo a quiÉn le echa la culpa de problemas econÓmicos de estados unidos. >> para eso sirven las encuestas y la Última culpa al presidente y culpa a el congreso, ya ambos partidos. >> y como nos muestra graficamente lourdes m desde washington 7 de cada 10 nort

nicolas sarkozy and angela merkel say that they will send a letter to the european council presidenton wednesday. they are counting on him to convince remaining members -- remaining members. let's it is important and right that these members move together toward greater commitment, including asking their parliament to open the commission. adding a completely new quality to the heroes on. -- euro zone. >> the head of the new economic government should be [unintelligible] >> the plan adds a new dimension. germany's politicians thought i had avoided a great the fault in rescuing the single currency. >> today the euro zone states have shown that we are up to the challenge. >> european leaders, expected to enjoy their summer break, turning the senate compromise is into laws. question marks started to undermine their plans. the most important, was the euro safety net big enough they turned their attention to italy. italy's finance minister had to watch as rome's bond yields increased in cost. expressing reservations, they doubted in an open letter that the compromise was enough. speculator

worries about italy and spain interrupted august vacations today for angela merkel and nicolas sarkozy. the contagion from europe infecting what's happened here and then going back across the pond. what do you see happening with this jobs report first? >> well i think you said it yourself. the real issue right now is a crisis of confidence. in the u.s. the facts are changed dramatically in the last few days. i mean the economy's kind of bumping along the bottom and the jobs report this morning really wasn't too bad. it wasn't that great, but it wasn't really that shockly surprising. what is halting the markets right now the fear. fear about the future of the euro zone and whether the euro zone lieders can get a grip on the crisis and the stock is spinning out of control. also fear about the u.s. and as the realization dawns that the economy's bumping along the bottom and going to really be slowing down, there's a realization that the government haven't got many tools left to actually fight any slow down with because monetary policy options are almost exhausted and the fiscal policy opt

france's president nicolas sarkozy came back from his rivera vacation for an emergency meeting. shares in france's biggest bank plunged almost 15%. top banks in england, italy, and germany were also hammered. europe matters to the u.s., because about 29% of foreign sales for s&p 500 companies last year came from there. >>> no surprise financial stocks led markets lower here as well. bank of america, citigroup, and goldman sachs each lost more than 10% of their market value. safe haven gold rose above $1,800 an ounce for the first time ever. another safe harbor, the ten-year treasury note rose sharply, while its yield tumbled. the dow has now lost more than 2,000 points in less than three weeks. yesterday's volatility was heightened by wild swings of heavy volume set off by computer trading programs. almost double the year's daily average were treated on wednesday. >>> walt disney dropped overnight a day after posting quarterly results. on the up side, cisco shares soared after its results edged past the street's expectations. and finally, apple closed as america's number one com

yesterday a long-term debt reduction plan from german chancellor angela merkel and french president nicolas sarkozy did little to calm worries about europe's economic problems. investors had hoped for the introduction of a single euro bond. instead, the two leaders proposed a new tax on financial transactions. that took a toll on bank stocks here at home and dragged down shares of new york's stock exchange parent nyse euro next. meanwhile an uptick in global manufacturing offset concerns over the still sluggish housing market as investors sold off oil in fears of weak demand. some surprisingly upbeat earnings limited some of the day's losses. walmart shot up 4% on its rising income and higher full year forecast. likewise, home depot rose on the heels of healthy earnings and a boosted year end outlook. that retail optimism may fade this morning after dell's late day earnings failed to impress investors. google shares took a hit after standard & poor's downgraded its stock from buy to sell after its decision to buy motorola mobility. bank of america is reportedly in talks to sell off some real estate