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 constitutions by the summer of 2012. >> they both spoke out against the euro-bombs, speaking for a tax for financial transactions. >> is it conceivable that all of the 17 nations in the euro zone would agree to these types of proposals? are they enough to address the debt crisis? our correspondent has been covering the paris talks for us. >> it is conceivable that the other members could agree to those proposals. not only was that like this in the past, with france and germany coming up with an idea, but also, i think, all of the measures and proposals that were made, they were already within discussion. so it is not completely out of the blue. presenting ideas that already exist. workin

germany and france focused on three main proposals. eurozone leaders should coordinate economic policy, members should enshrined that ceilings in their constitutions, there should be a tax in the financial transactions, securities to cover the eurozone are not planned, and are opposed by a coalition partners. >> you can only solve eurozone problems by running up less debt. the deficit spree has to be stopped. otherwise, there cannot be stability. everything else merely deals with the symptoms. in the case of eurobonds, an attempt to put out a fire with petrol. >> the opposition accuses the government of dragging its feet for too long. >> , an economic governance and taxation of financial markets used to be considered the devil's work. they have to accept reality. >> france and germany need the backing of european partners to come into effect. >> how has brussels been reacting to these proposals? we will put a work -- we will put that question to our correspondent. >> one of my colleagues summarized like this. nobody is happy, but nobod

well if you look at the fundamentals i think france is quite different from from the other countries but nevertheless france also has a debt problem the overall debt level is very high and now that the u.s. government debt has been downgraded there's obvious fear of who will be next in the game and we've seen the problems with spain and italy recently and i think it's quite natural that the markets at this stage are concerned about france as well so i think that the french government is under some strong pressure to act. but it's not i would not say the situation is as dramatic as it is or has been for example with greece and ireland and portugal as you say there have high debt levels is it possible will eventually see a downgrade of france's credit rating in the near future. well i think if france implemented the measures that it has indicated for the budget to be to reduce so long a period i would say france credit rating would be rather stable and that is what the rating agencies have said but requires some political will to implement these changes and i think that is the big if s

or from our perspective we can cross live to france. the director and founder of the french center for intelligence studies joins us from there thank you very much indeed for being with us here on our to report suggests that tripoli has seen the worst bloodshed since the beginning of the uprising so if he is weak and cornered as they claim how come there's still such strong resistance at the moment. i don't think it's really strong resistance but that is the as always a lot of people are going to help him because you know most of the tribal the western libya they are not we scarcely but they are not against the past month they are been very boring from nato. all beings and because this is the book mission are protected in eastern libya and we are protected so they have received a lot of money from the west some didn't so it's not to move this is why they don't take it they don't take any action against gaddafi but they were not involved with the insurgents for the past week so what happens next then eric if gadhafi does go with the loya

and this is what it looked like the day the tour de france came to town. the mayor paid the tour de france around 80 thousand dollars for the right to have one of the legs of the gruelling cycling competition start in his community. >>towns like his can wait up to 20 years for the right to host the tour de france. >>it's not surprising - the windfall from tourism and media exposure can be huge. cugnaux's population more than tripled to 50,000 overnight >>all these people need to drink, to eat and sometimes spend money in shops and they have to stay. they have to go to restaurants, to pubs bars and they are looking for hotel rooms and many people of cugnaux ask their family all around france to come spend two or three days here. so in terms of economic impact its a very good return. >>reporter: unlike most mass spectator sports, fans of the tour de france will see real action for just a few seconds. in the mountains where the pace is slower it can be longer as the cyclists are spread out, but if fans turned out just for the race most would be very disappoin

on friday investors will watching france with a very keen eye. this is because the country's second quarter growth figures have yet to come out. let me show you where growth was. it was at 9.9%. the issue is it may well fall to 9.2%. and, andrew, if that is the case and falls to 9.1%, it prevejtss france from reining in its deficit by just the year 2013. if growth doesn't stack up, it's going to be difficult some say for france to balance its debts just as other euro-zone nations are having the same problem. >> absolutely. the cold front and austerity measures, more austerity, more austerity. so you've just got to wonder, this is not squaring up, is it? such a difficult time for the policy maker at the moment. anyway, we're going to be talking much more about that during the show. you're watching "world business today." we're going to take a short break and from the uncertainty of the markets to bedlam in the streets, when we come back, we'll be taking a look at the true cost of the riots in the united kingdom. stay with us. then my eye doctor to

contributing to america's a lack of trust in congress and remember when our nation grew so outraged with france in the run up to the iraq war that we tried to change the name of french fries to freedom fries and that as a daily take i'll tell you why millionaires and billionaires in america may be restarting this campaign real soon. where in the world is paul ryan who. is cutting from constituents or at least apparently. group of one employed constituents staged a sit in outside congressman paul ryan's district office last week upset with the fact that their congressman isn't holding any free town hall meetings during the august recess ryan is holding corporate sponsored town halls and charged people fifteen bucks to ask a prescreen question however yesterday those constituents tried once again to meet with their congressman they were again denied entry into the building by the police take a look. at a complaint sign if you are the building you can't be in the part of the building premises inside the building at all or. the traffic. up and down the sidewalk is much allowed in the east of englan

fifty dollars in your pocket when you got to france which was one hundred fifty francs at the time. was it hard to find your place you had to find in any local already seen the artistic establishment yes did you feel like no one needs you over there. my fate was a difficult one in the sense. that but almost nine hundred seventy want. i was a vision of mine was held by i didn't invest in his gallery and you know very nice a well known gallery going to my you're my old school my muse who because she was his muse. his entire property. to some litigation but she laid her hands on all his house his duty is everything he had ever created in his lifetime. something delayed is anything but poor. from a death of our own stalk using right now. well we did she was in love with me and my work it. came to france. and gave me as a gift a small shutoff and trumbull here. three days later she king to the chateau with a contract for ten years. the way was an absolute give. russia today that is a market. i was wise enough to see she was out to milk me. under its terms i was supposed to do as i was to

gloomy forecast for economic growth in france despite the country announcing new austerity measures of twelve billion euros cuts and tax cuts for the rich. and the republic up cause your vote for a new president through much of the country lying in ruins after years of struggling to make independence from. international news income and life from my headquarters in moscow where it's now just past eight pm and six pm in libya where british tornado jets of five cruise missiles that colonel gadhafi is command and control bunker in his hometown of sirte it comes despite natures previous denials that it would assist rebels in the hunt for the libyan leader and u.n. calls to arrest the leader not kill him all of these were financial reports now from tripoli. gadhafi still remains the goal number one for the rebels and since the beginning of the commission here in the libyan capital tripoli we've been hearing numerous reports and we've been here in numerous statements by leaders all of the rebels that his whereabouts first as you remember they've announced that they catch captured say for his

she settled in france and. the return of work to russia began with the first exhibition there since he went into exile continue to shoot she's worked in russia. political repression and to. the architects and builders of st petersburg to be should make its paintings that exhibit international museums the peace cultures and all squares in venice in francisco new york in-laws mikail is our guest on spotlight today. this is essentially mr chirac in thanks for coming to our program michel let's walk down memory lane a bit as we all know that you were expelled from the soviet union in one thousand someone you want i was initially also restrict you all the citizenship. what was the office full explanation of what was the office or reason for expelling your from the country my view is that it was cool for you but in your rule since i was not one of the chosen people my expulsion was quite a complicated one if your water. i was arrested and then taken to the kind of state security for a so-called chance. explained to m

france becomes the first e.u. 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

francs. in fact with the euro dollar forty wanted to have the swiss franc is rapidly approaching parity with the euro and it just took era when the u.s. dollar that happened very recently and now it's at a thirty percent premium and look at this list right i mean the years imagine where the yen would be a debate if your pant hadn't flushed you quote a fifty billion dollars down the toilet last week to buy u.s. dollars and of course u.s. treasuries what is japan doing with all those dollars that are buying their blind treasuries because they want to but because they think there's a gun to their head but but they're mistaken so instead of paying somebody to hold your dollars sell your dollars and get into this was frank or get into gold and i've got about thirty seconds left i just want to go back and revisit the gold standard idea clearly as you point out what would the problem today's inflation and my return to golf standard you are coming back to it with something that will hopefully restrai

to pull a reeded france may be vulnerable to downgrade following cut to the u.s. yeah well there's a tremendous ripple effects are thing what this downgrade because the u.s. dollar is course connected to the u.s. treasury bond market and it's connected to the thigh bone connected to the hip bone connected to the foot bone connected to the yeah baby it's automatic that it's only downgraded start to pull the thread on the u.s. dollar the whole kit and caboodle gets on ravel yeah you all might also say however that it's all related to s. and p. itself and moody's and fitch because the u.s. and france are in such bad shape due to all the so-called aaa rated collateralized debt obligations and other credit derivatives that s. and p. allowed to be rated aaa and then these country's banks bought these toxic debt yeah that's an interesting part of the history isn't it you know during the period leading up to the financial crisis the selling of collateralized debt obligations c.d.o. zas their known and other flora and fauna of the derivatives fear spawned by the which are

good to have you with us this hour so germany and france have proposed what would be a dramatic centralization of power to help get the eurozone out of its debt crisis chancellor angela merkel and president because of course he want a single eurozone government with the power to monitor whether member nations are following its decisions daniel bushell has more for us from brussels 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 asked because the the president of france faces an election next year where he's already trailing behind his rivals and is suspected this may make him even more unpopular because the people of europe haven't been asked but in polls in opinion polls they say that they don't want the european integration angela merkel the chancellor of germany says they showed great courage to do this and they dismi

to make sure it profits france only maintaining forces. presence in libya even though the resolution. yes but keeping troops in the country means heavy costs drag on latest polls say most french people now oppose the military intervention this n.p.c.s. further bloodshed and the hefty price tag to deal with it now surpassed by the guess what he meant was the war is far from over and this invasion is already costing much more than we could back fears a growing that libya's new leaders are too divided to win the peace. points to the rebels murder last month of the military chief general yunis experts warn widespread rebel looting and executions beat france's problems they have only just begun their new bushell r.t. paris. well the you asked britain and france are preparing a un resolution now will lift a fuel embargo on libya and allow the rebels to gain access to one hundred billion dollars of frozen assets meanwhile dmitri medvedev says russia will consider establishing diplomatic relations with the libyan rebels but only if they are able t

jack lang everyone to be thankful that france inspired action at the united nations corporations in states that voted for u.n. intervention are rubbing their hands one of the first members of the french team. who. was a reprise into t.v. off to tell the difference or company. is not very far from of course french all drawn towards hall has been named as this was big enough rubble all for a go go has threatened to look brazil russia and china for quote political issues there are three states who refused strong sanctions against gadhafi those nations had voles contracts with the former regime a russian official says quote we've lost libya completely it is well known that it is a wall for all that these so-called position government has promised to give the old two from france officially claims its war mission is over but analysts tippit to secretly stay you'll be in libya make sure it profits france only many jaylene force is. presence in libya even though it's not part of the resolution. yes but keeping troops in the country means heavy. because stray gone latest polls say most french peopl

country under the premise of fighting the euro debt crisis the blocks to dominate members germany and france have said they'll push for closer economic integration with deficit rules written into member states constitutions investors didn't take the news well with u.s. markets closing in the red over fears of euro zone viability and a new figures showing economic growth in the region had almost ground to a halt even before last week's turmoil daniel bushell is in brussels. 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 haven't been asked 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 unpopular because the people of europe but in polls in opinion polls they say that they don't you. the european integration angela merkel the c

>> on the case in france, i don't think so. i think the case in france is a very long shot. it happened seven, eight years ago. there is really no explanation why this woman didn't file this complaint sooner. so it's a very long shot. there is not much to fear from strauss-kahn about this suit. but the civil case in the bronx now from the woman might be another question. you know, it's going to be there and we're going to talk about this again and again and again. if the civil case goes forward. >> emanuel, since i have you, i would be remiss not to ask you about something that happened today between french president sarkozy and mahmoud gentleman bril, he's the head of the libyan rebels, national transitional council. the ntc. sarkozy really took the lead pushing nato into action in libya. given this image that we see here, the ntc flag, the french flag and these two leaders, what is the reaction to this in france today? >> you know, sarkozy bet a lot on the libya war if you will. maybe some would say even his reelection. he felt like he and all of people saw him as -- the r

concerned about france as well so i think that the french government is under some strong pressure to act requires some political will to implement these changes and i think that is the big if so if france is able to convince the market that it will implement these tough ventures then i think we could see some civilization in the markets. time for a look at some other news from around the world syrian security forces have been need their clampdown on to regime protesters following friday's prayers when mass riots erupted in several towns at least ten of protestors were shot dead in separate clashes across the country after police opened fire on the crowds that's after american secretary of state hillary clinton called for wider international sanctions on syria the ongoing and red state which began in march is said to have claimed seven hundred lives. at least one person has been killed and around forty injured after a passenger train derailed in central poland it was on the way from also to the southern city of kut to the caring almost three hundred people when the engine of three of

to france yes fifty dollars in your pocket when you got to france which was somewhat hundred fifty francs at the time right where there's it wasn't hard to find your place give you have to find any shame on the local already seen the artistic establishment yes bullish did you feel like no one needs you over there. i think it was a difficult line in the sense. that but almost in nineteen seventy want a large personal i was a vision of mine it was held by dean in bed and his gallery and in a very nice a well known gallery oh my you're my old school music who because she was his muse gave cleaned up his entire property. to some litigation but she laid her hands on all his house his duty is you can do everything he had ever created in his lifetime . something the ladies anything. but poor kirk without number as he hails from a data of our own stalk is using right on the beach really. well because she was in love with me and my work. and i came to france she saw me and gave me as a gift a small shuttle and from here i she just did me. three days later shipping to the chateau with a contract fo

while the leaders of france italy in the u.k. of all the nonce they'll be holding individual talks with the leaders of the libyan transitional government next week nazis daniel bushell brings us the latest details from paris. the french president has spoken to the rebel leader. by telephone on monday and announced that he's invited him for talks on wednesday said that libya is a potentially rich country but it needs support and aid to rebuild in fact paris is behaving as if it's all over now. the war is finished and the fact in fact officially announced its military mission in libya is complete but experts here do express fears that the divisions between the rebels themselves that they lack a common enemy and get their feet if gadhafi has indeed now gone may mean there is further violence as those splits between the rebels are exposed in brussels diplomats and analysts saying that the united states has really taken a backseat here see an opportunity to take a leading role french defense minister says that the talks will find a ro

have resorted to methods unseen since the two thousand and eight crisis to try and calm the markets france italy spain and belgium have decided to ban short selling on the shares of banks and other financial companies practice sees investors selling borrowed stocks that are expected to fall in price before buying them back and keeping the difference short selling has been blamed for increasing recent market volatility meanwhile france has been battling speculation it was going to lose its aaa school which was finally reaffirmed by ratings giants on wednesday investors however remain unconvinced the country's finances are solid enough recent figures show stagnation in growth on the banking sector has been battling health remains young hard in the from the european school of management and technology says it's the banks that are once again it's actually. part of these rescue managed measures have been taken to to rescue the banking system. especially with the banks in southern europe and i think this needs to be addressed but overall we also have this kind of political situation where it has

in an effort to stabilize the markets for european nations have banned short selling on banks france italy spain and belgium opera hitting bets which allow investors to profit from falls in the price of financial stocks the move follows high volatility in the sector fears about their exposure to eurozone government debt david jones a market strategist index believes this will only provide short term relief. and that's helping the markets today we've got for example here in london barclays is one of the top prizes in the dice and we are seeing strength in banks but it is like history repeating itself we've got a similar levels of volatility we had three years ago in september two thousand and eight there was widespread short selling bans but over the next month financial markets still dropped another fifteen to twenty percent so again traders in europe at least so far are back convinced the short selling bans are necessary to change anything. similar to how the markets are doing in the final half hour of trading in the u.s. they are still positive that's after a strong recovery on fir

and france have proposed what would be a dramatic centralization of 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 to ati's daniel was in brussels this is all just being discussed they just addressed the media what else was said following that merkel sarkozy meeting daniel. 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 there's one small problem which is the people of europe have been almost because the the president of france faces an election next year where he's already trailing behind his rivals and it's suspected this may make him even more unpopular because the people of europe haven't been asked but in polls in the opinion polls they say that they do

france they are looking for contracts they are looking for all being they are not people business and people libya is destroyed completely and they're kept there for the team there is no infrastructure at all so i believe that leap in peak is very critical for their you know that they want to share how much. business actually was a good eat. that is you know you can see me been put on this kind of council and. that is especially within france we don't know yet but they're frantically that need to what is looking for a price and believe in a future government should pay and will be paid a very heavy price for it is not. a free service no definitely there is something behind that. i suspect that nato would like to have military bases in libya i suspect that you know british and french company is looking for exploration contracts abdel-bari atwan thank you very much. as you know sixteen years old on communities mars that's not to say that science or should not be honest for his crimes on. no rational person can deny that charge has been promised. and will be punished. as ours must be exe

the and i think it's quite natural that the markets at this stage are concerned about france as well so i think that the french government is under some strong pressure to act requires some political will to implement these changes and i think that is the big if so if france is able to convince the market that it will implement these tough measures then i think we could see some stabilization in the markets. well more news coming tonight catching videos are always there for you on our website here's a taste of what's online right now at our. short spot on the korean peninsula and fresh tensions between the north and south and analysts predicting souls of twenty twelve elections will bring big changes in relations. and an alien abduction is more likely than sensible congressman at least according to the majority americans are rapidly losing trust in their lawmakers for more on those stories and plenty of others had to ulti dot com. let's have a look at some other news now from around the world in brief and syrian security forces have renewed their clampdown on regime protesters follow

france and germany proposed a single collective eurozone governments led by the president to steer the block out of its troubles have the power to oversee its decisions are being implemented. the skies over moscow welcome the world of aviation the scores of the latest jets performed breathtaking stunts of this year's met show. and a market in bodies a gruesome organ trade in india is on the rise with authorities accused of colluding with those illegally preying on poverty stricken people sacrificing their health from like our top stories this. international news and comment live from moscow this is r.t. with twenty four hours a day so germany and france are proposed what would be a dramatic centralization of 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

well i have to laugh at the term collective economic government from the heads of state of france and germany it sounds like a throwback to these old soviet union air or something. the alternative really is is to get. stable export market relations 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 impasse that the eurozone countries are in without that and so long as as the dollar system dominates international financial relations that moody's standard and poor's do the rating on sovereign debt for european union countries and that there is no independent european credit rating agency and there isn't is no. growth perspective and only austerity there is no out to this crisis never think that there is one in expanse and. then an injection of euro bonds into the market after slightly what berlin and paris have refused to do here why is that. well it goes right to the fundamentals of the sovereignty the euro was created as a rotten compromise back

discord over closer european harmony france and germany a unified economic front to save the struggling hero while investors are left unimpressed with. the stuff for twelve noon here in the russian capital watching r.t. however the british inquiry into its agents use of torture overseas has been slammed before it had a chance to get started it was revealed that britain was prepared to use harsh interrogation if the potential information that was gained was considered important enough about flood human rights groups to boycott the inquiry saying it lacks credibility as a lawyer and that reports. walking a tightrope of pay. first it's emerged that's how britain security agencies were encouraged to decide when to talk terror suspects. held ground in afghanistan and in guantanamo bay between two thousand and two and two thousand and five he says he was tortured and accuses the u.k. of being complicit in that torture only now is the level of the official complicity being revealed i am completely one hundred percent sure but i would not have gone to guantanamo autoblog wrong headed papin coul

franc in fact with the euro dollar forty want to have the swiss franc is rapidly approaching parity with the euro and it just took parity with the u.s. dollar that happened very recently and now it's at a thirty percent premium and look at the swiss franc i mean the yen imagine where the yen would be debated to pan had flushed the equivalent of fifty billion dollars down the toilet last week to buy u.s. dollars and of course u.s. try. what does japan do with all those dollars that are by their blind treasuries not because they want to but because they do there's a gun to their head but they're mistaken so instead of paying somebody to hold your dollars sell your dollars and get into this was frank or get into gold i've got about thirty seconds left i just want to go swing back and revisit the gold standard idea clearly as you point out what with the problem today is inflation and by returning to the gold standard you are coming back with something that will hopefully restrain government from spending and from the printing presses from rolling out of full speed so what clearly you kn