tv [untitled] May 18, 2012 12:00pm-12:30pm EDT
the euro crisis looms large over the g eight summit in america and with president obama expected to urge more rescue measures from the e.u. as he helps his campaign for reelection. plus outrage in iran over plans to merge two of america's gulf allies which terrell owens corning a u.s. plot to reshape the region. also this hour gyptian of hope the revolution would bring them change but it seems it is only brought rocketing crime rates and unsafe streets. international news and comment twenty four hours a day this is. as the u.s.
president hosts this year's g eight summit is expected to pressure eurozone members to apply a more expensive bandage to their open single currency wound but barack obama's admitted to having his hands tied on some issues as reelection worries dominate his thoughts. has more from washington. there are several challenges for this year's g. eight summit one is facing its host obama has his hands tied with an election coming up in november a lot of focus for him on trying to stay in the white house so he's going to have to balance domestic and international considerations at this camp david summit something that's never easy but even more so when you have voters to please and global leaders to reassure it's always a difficult thing to do even more difficult during the election he has in one sense to reassure american allies that america has remained strong and committed to the g eight and it has an important role to play at the same time he has to be sensitive
to what his constituents in america are thinking about domestic concerns the economy unemployment housing all of the things that remain an issue the obama already told the world that more ready to compromise on global issues through the election given it was by accident in that hot mike sit down with dmitri medvedev but with that incident aside many experts say that it's very unlikely we'll see progress on bilateral issues with russia per se on missile defense or iran's nuclear program in the election year now another challenge facing the group as a whole is the question many are asking does the g. eight format still work it's true that most countries of the world see the g eight as outdated most countries in the world don't recognize the the singular leadership of the united states and its western european allies so in terms of what might come out of the g eight i think that again substantive policy decisions are unlikely
rather this is going to be a much more much more geared towards padding obama's image as the host of the summit and showing the world that obama is this sort of a uniting uniting force rather than the divide. the force that he has seemed to be for the for his first term now in terms of uniting one of the main goals and focus of this summit will be the euro crisis the goal there to try to get the new french president on board with all of the massive austerity cuts that were seen throughout europe this is something that european leaders will certainly be looking for obama to try to unite all of them on how to move forward with that but again a lot of critics think the g. eight is an outdated format and then you have all the speculation as to why president putin didn't come perhaps it's because he does understand how important the g twenty is especially when it comes to the financial turmoil that we're seeing across the world not of course will be held in mexico in june reporting from
washington and he's now a party. this year's g eight gathering is looking increasingly likely euro crisis summit with the german led focus on austerity likely to come under scrutiny. this handicap sentiment is spreading fast across the whole of europe along with fears about greece leaving the euro we report on the gathering storm clouds shortly here on r.t. . the first thousands of protesters are rallying in bahrain against their government's planned integration deal with saudi arabia earlier demonstrators also took to the streets in iran calling the gulf project a u.s. point to reshape the region to iran's unhappy about the plans by two of washington's key arab allies to cement a military and political alliance islamic state fears that washington's history to be unity push to force it into a corner to run the summoned bahraini diplomats for an explanation one iranian professor told r.t.
that america's gulf allies are desperately clinging to power. this is basically for the survival of the dictatorship in bahrain because the dictatorship the king is immensely unpopular the vast majority of the people of bahrain want to throw the regime but unfortunately the west supports the saudis and the dictatorship but what ron is concerned about is that the saudi regime will attempt to an x. . ray in because the dictator is immensely unpopular here been able to keep control and in order for the revolution. saudi forces to effectively occupy the country it's very interesting that the people about this fight of this this small country has put up so much resistance and i think this itself shows the immense weakness that lies behind the saudi
regime but the iranians believe that the fact that the united states supports the bahraini and saudi dictatorships also makes them responsible for the both the bloodshed as well as the current situation of large. well we're closely following the situation in bahrain online head to our web site r.t. dot com for the latest updates. coming out the ruler of bahrain decides to abandon his kingdom torn by protest to attend the queen's jubilee lunch at buckingham palace. and fisherman for sale north korea demands two hundred thousand dollars for the return of twenty nine chinese men captured but see the details on those stories and plenty of other stories for you and r.t. dot com.
a british banknote printing firm della rue has reportedly started preparation for drachma production this comes as billions of euros were drawn from greek banks this week as people grow increasingly worried over the safety of their savings let's talk to our correspondent laura smith she's in london so true this is quite a development isn't it of what stage is this printing. well it's really important to stress that this is only a contingency plan and i'm absolutely sure that no drachmas are currently rolling off the press at the lowry but all of this all of the same it's it is an interesting development the room is one of the world's biggest news printing companies it also does passports driving licenses that those kinds of high security documentation so it does high security paper and printing already around one hundred fifty countries really from on the in here to dam the own kind of
everything in between and this is only a contingency plan but it's also important to say that investors seem to be getting behind it they're seeing shares increasingly as a sort of safe haven from great turmoil and so much so that their shares of risen by eleven percent just in the last month they are preparing to do it of course any greek exit from the year it would spark a massive demand for trucking and not clear whether domestic producers would be able to meet that demand international companies are preparing for that scenario so all these factors have triggered these contingency plans and the other pressures to do this at this stage. well this is not the only contingency plan of course that we've seen we've recently seen for the first time ever the e.u. trade commissioner admitting that he also and his colleagues the european commission and the european central bank are working on a contingency plan just in case of greece crashes out of the euro to avoid contagion into the into the rest of the financial markets and also of course the bank of england governor mervyn king has also come out and said that he says the
euro zone's tearing itself apart from the inside basically says he and his colleagues are also working on what would happen in that scenario and of course what we're seeing in greece at the moment is really sort of turmoil further turmoil that has come out of this this failed election really that we saw earlier this month where no decisive result was come to a note none of the parties could form a coalition so of course greece at the moment has a new prime minister but that's only an interim measure while we wait for the new election the seventeenth of june but the worry is for all these people that greeks will eventually elect an anti austerity party which would mean that there would there would be no more austerity so the greeks wouldn't be able to meet the conditions of the euro zone they would receive no more bailouts and so almost by default they would then fall out of the euro zone and of course you mentioned the reports that greece is the greeks have drawn about
a billion euro is out of their banks in the last ten days and that looks more and more like a slow but steady run on the entire greek banking system fitch the ratings agency has also recently downgraded greece even further down the list with an investment rating so really it's all sort of guessing. here and. the indeed in greece as you say but what is being done to keep the whole of the euro zone together now. while there's a lot of talk at the moment e.u. leaders all say that they want the euro zone to stay together they don't want this this greece falling out with this and then for it to possibly create this kind of house of cards effect where greek leaving on its own doesn't make the whole system collapse but greek greece leaving makes make spain and italy look a little bit more shaky and really take it out from the bottom so. merkel the german chancellor and on the new french president have both said that they want to make it work they'll do whatever it takes because the problem is that they're
coming at it two very different angles very pro authority all on the pro spending anti you can't really so they've got to find some compromise from those two very different positions david cameron we saw earlier this week urging germany to do all it could to keep the euro zone together that the europeans want to make up for not possibly not a very popular message to be coming from him and the country outside the usa so what they're looking at doing is not just keeping greece in but then in the worst case scenario preventing this contagion that could spread into the rest of europe sixteen spanish banks have been downgraded recently so that's also a very bad effect in terms of contagion and analysts say that if greece did drop out then it's a possible ten years of global financial turmoil so e.u. leaders coming from very different positions really have an awful lot to sort out in the coming days and weeks live in london thanks very much indeed for that update . the worst victims of the euro crisis of the millions of europeans who have lost
their jobs and incomes almost hauffe of all of spain's youth a loner to work and yet this is not stopping brussels from spending felton's of euros on bureaucratic whoring processes for ministers or correspondent as this report. good income great working hours generous benefits career growth and essentially a job for life it's no surprise that the tens of thousands of applicants across the european union vie for permanent posts in the e.u. institutions are is one of them i applied because maybe i get the chance to become a staff member its job more secure can transfer to another position after two years walking the halls of these buildings are thousands of men and women who want this massive uber shimmery managing the union for five hundred million citizens no doubt requires manpower but so many people are crying foul or talks players money is concerned it costs between seven thousand and fourteen and a half thousand euros to simply go through the process of hiring one permanent
staff is an awful lot it's probably the same amount that a company would pay only creating a chief executive say a more personal but of course ridiculous by no means to fund the bill why is it that these stories keep on emerging i think in all honesty. officials who really matter they don't seem to care. and things but. they are asking for more money year after year after year this time the e.u. commission is asking for a budget increase of six point eight percent for two thousand and thirteen taking the total amount to one hundred thirty eight billion heroes about twenty three million of which will go to the european personnel selection office or eb so in charge of selecting potential permanent staff selected candidates are then placed on a reserve list for about a year commission various e.u. institutions can choose if you kick people reserve list this list is only valid for
a certain time off to wish these people probably find jobs so where's the value added in the cost of hiring people could be much higher we also need to select people on the broader. possible geographical bases so we need to make sure that people from all countries represented there is an additional cost for that she adds that in an exercise comparing the costs of each new hire and twenty nine international bodies including the world bank and the united nations episodes average cost per person is still lower but in this context. where millions of jobless e.u. citizens are hanging by a thread critics say that no amount of justification is going to make this situation appear like taxpayers' money well spent yes or cilia r.t. brussels. police in germany detained around four hundred demonstrators during an
occupy protest in frankfurt offices say around fell's and protesters staged sit ins erected barricades and tore down the road signs across the city the demonstration was part of a four day long rally called block which began on wednesday supporters walked into the city center to block access to the european central bank which is located in downtown frankfurt the rest come just days after an occupy camp was cleared in front of the bank five thousand police officers have been assigned to patrol demonstrations due to take place this weekend. you're with r.t. on air and online with you twenty four hours a day still ahead for you this hour. the overly strong arm of the law anger rages in the u.s. serve an alarming rise in police brutality cases find out more on that story in
just a few minutes from now here on r.t. . the first be careful what you wish for that's what egyptians are learning the hard way last year's uprising and the revolution brought about change but mainly by destabilizing the country it's left people facing chaos and a massive crime wave a burglary and armed robberies auntie's early in the going to reports from current . it's not just protests the disrupt peace on the streets of cairo just ask taxi driver. it was calm before the revolution one hundred percent where in a total mess now i used to drive anywhere wherever they want us came from never refused a customer now i park my car in the garage at six pm and go home i put a special security system on it so it would be harder to steal. robberies car thefts all have become part of a daily life in large cities like cairo and alexandria since after the revolution
many people say the police at times simply choose to turn away when a crime is being committed. all hell broke loose after the uprising i know some who escaped from prison there are still stealing and looting the use guys who steal cars for them and then use those cars to deliver cocaine and hash to drug addicts and. people see this was something unheard of before the arab spring and the mayhem that followed the uprising of january two thousand and eleven many believe thousands of convicts escaped from unguarded prisons a crime wave has followed with egyptian media reporting more than twenty five hundred murders and some two thousand abductions since their revolution yet the police are accused of doing little. the police a lot of respect a lot of. the tools that they had to work with like the weapons.
of the different people for that this. has been treating my. for the last thirty years i would say for a long time maybe for six. this police is not nothing to us we are the police and in my opinion the minister charged with enforcing the law has a very different view saying the situation is under control i want to say that. i told the members of the people's council look at the results we managed to achieve in record time i'm sure that no one could have done as much as we had a total collapse of everything stability was nonexistent i delivered all numbers regarding organized crime groups robberies and thefts they were committing and the achievements we've made. that in the meantime until camera turns to egypt ibrahim and others will continue to close up shop early in his room before sunset fearful
not only for their property and possessions but for their safety and lives in cairo in a ghost go. a massive explosion and fire hit an ammunition dump belonging to russia's minister of defense and the country's far east official said number of weapons exploded when they were being disposed of the explosions have been raging for hours preventing firefighters from battling the flames is also force a suspension of the translight barrier railway part of which is located just a few kilometers from the site of the incident bushels of the port a special amphibious aircraft to fight the fire one person is reported injured while more than two thousand have been evacuated from nearby villages. tom let's take a look at some other news that is making headlines around the world today thousands about to take you back to this taking to the streets in the northern syrian city of aleppo where human rights groups are reporting that people have been injured by tear gas and live ammunition dollars also this is elsewhere with regime forces reviewing their involvement in the town of ras attempt to break up defensive lines
set up by the opposition meanwhile the u.n. chief says al qaeda militants were behind the deadly suicide car bombings that killed fifty five people in syria last week thank you mood also said the death toll from the crisis now stands at ten thousand. simultaneous blasts of struck an outdoor bird market in eastern baghdad killing five people and wounding dozens of others the bombings took place in the sure neighborhood when the air it was crowded with shoppers violence has decreased in iraq in the past few years however insurgent attacks on security forces and civilians continue in an attempt to undermine the shiite led government. was a report in the world of data buses crashed off a bridge in central vietnam killing thirty four people and injuring dozens of crowded coach was travelling to the city in the south when the driver lost control causing the vehicle to plunge eight hundred meters into a river over eleven thousand people die each year in vietnam in traffic related incidents. they're called on to up hold the law but does that mean they abide
by an increase in cases of police officers using excessive force or sparked public outrage across the united states and some fear it just might be too late to turn the tide then a question of reports. spectators in the small california courtroom gas but a video off a man lying on the ground screaming they're killing me while being severely beaten by police at first when thirty seven year old schizophrenia sufferer calley follows appeared on corporative the officers gave him a terrifying warning. and i. heard. later in the video you can hear tallness repeated the apologizing to the police and even crying for his father's house old. girl. they continued their assault with tests and teachers she lost consciousness and died in hospital five days later
it sparked a series of protests across california and demanding justice for victims of police brutality yes this was no isolated case while police officers in a neighboring californians it's we are standing trial for the down the county thomas here in downtown l.a. people came out onto the streets to remember the first anniversary offering now there is not will be shooting the killing of dale garrett it's with blood increasingly on the hands of police officers across the country many people here say police are using excessive force far more than necessary dail guard was shot by an officer twice in the back the police chief insisted the decision to open far fell within the rules but many here find it hard to understand how shooting a man from behind constitutes self-defense since nine hundred eighty three only one california cop has been convicted with killing on duty after oscar grant was shot
dead a new year's day two thousand and nine the auckland officer told his trial that he meant to draw in for his taser not his gun to a sentence to the minimum two years he was free in months. but for. police shootings are on the rise across the state the latest just two months ago in the death of unarmed nineteen year old kendrick mcdade shot seven times during the watch turned out to be the false report a froggery community groups aids time the police came under the people's control laws and the justice system that applies to normal folks working people there's a whole different set of laws and justice that applies to the police when there's rarely any any form of justice that's brought to the police said i mean they make their own noise or they're above the law really cases of police using excessive force happened prime earning poor mainly black neighborhoods but kelly thelma's
killing in a wealthy middle class town shows the bonder east of police violence are shifting and californians one turn a blind eye anymore when the question of archie reporting from los angeles california twenty four minutes past the hour now in the russian capital let's look at the business of creating your business so you facebook is now up and running understand what's happening well there was some technical difficulties to begin with. which is a slight concern when you considering it is the most hyped i.p.o. certainly the eyes one i've ever heard about but it is now trading is performing on the nasdaq right now but to say the truth is a little bit underwhelming right now we're looking guys of around six percent but as i say considering we had all that hype about the tech offering it is for a moderate indie now you know why is a big win phil for a company that began just eight years ago i a face that prices stock at thirty eight dollars per share and that was at the top
of expectations all of us all from basically capital says given the low revenue streams full facebook the high valuation holding on to the says could be a whisk for investors. it's been placed the head. quite high while suppose i would be very surprised if the stock actually performed really well in the aftermath it may in the next in the first two sessions given that demand seems to be a pretty high and more than even the issue but. the current shareholders are only sell in the placement but they're also sell afterwards reducing their stakes for mines are a lot of petroleum investors already unless they've been in facebook and such as private equity funds and that that will kept any gains in the spark and then the investors look at performance i doubt it would lead to extra positive sentiments particularly because the money has been taken from the market and demand has been taken out from from other stuffs. all the stocks it's going to have to the u.s.
bourse at the moment to see how they're performing in the first part of their trading day the dow jones around a ten percent and the down sees me and the nasdaq around a third of a percent down and that's worth facebook has listed it share that that is what helped out the bourse so all those going to europe and see how that's getting on in the last hour of their trading session got the foot down one point three percent the dax not in negative territory today there were loads of sentiments going on we had sixty spanish banks been downgraded by moody's we also had greece they have their credit rating reduced from a minus b. to triple c. as well as that comments made by the german finance minister wolfgang just google he was saying that he's anticipating that the sovereign debt crisis in the euro zone to continue for another two years with the g. eight leaders meeting today i'm sure the greek situation will be on the agenda of
topics to discuss and get on to the common currency as you know all the sentiment applying it to the single currency was what one twenty seven thirty one that the ruble last her if it is trading up to. the u.s. dollar on the year and that's as investors really move away from risky assets such as the russian current getting into the russian starts with the it was a poor performance today it wasn't nearly as bad as earlier on in the session when we had losses of around. the myself but as you can see it's been a tumultuous week to say the least let's get on and talk about some stocks to have a snapshot of how they finished up the day we had. yesterday lost seven percent today over there were eight percent down gas promus well already suffering because demand is expected to go down should we see the grex it as it's being called from about although one of the ferry if you saw it today that managed to gain around a quarter of a percent so let's talk about the my sex and see what exactly is happening to put
it in. perspective for you now in the last thirty days the index lost around twelve percent and is now trading at around two year lows on me while it's not all doom and gloom because russia's g.d.p. growth of four point nine percent in the first quarter of the year and that was above expectations far stronger than any european nation and we can't have what the us markets without seeing those oil prices will see that they are in days declining and that is adding pressure to the forces here in moscow and explains why we're seeing a loss is that this way so that's how the markets look though for this hour i'm going to be following facebook and see if it is any more thanks very much indeed busy session there for you because you think that's ok you there with business more from a bit later now in a few minutes here on r.t. join a summer trip around the russian capital in the latest episode of moscow out that self that headline still to come with me live in moscow.