>> yes, unlike in germany, party funding in austria is not, as such, a criminal offense. you have to do something to be guilty of corruption. in austria, you have to bribe an official or persuade them to commit a violation of office. >> rachat aliyev spent just one day in detention in vienna before being released on bail. after just two days he was granted a residency permit, while the austrian authorities took three years to process the extradition request from kazakhstan, and then the request was refused on the grounds that rachat aliyev could face political persecution back home. aliyev now claims to be part of the optician -- opposition in ca zach san francisco. for the widow of the murderered bank manager it's a preposterous notion. >> rash are rash was always a -- rachat aliyev was also a member of the ruling class. nobody supported him me. austria is reifersing to extradite him. >> the chairman of the europe parliament's committee of legal affairs is bebuildered. he wants austria to clarify its position. >> i cannot fathom how they can take no action in light of th

he said he wanted to go to austria. so okay we went to austria. he said we're going to ride the white horses. and two women owned the stables. you people know about white horses of austria? some of you don't know. they have the white horses. so we got there and i remember seeing two ladies that came out. they knew who he was, you know. and he said, i want to ride a white horse. and she said, all we have is white ones. i remember her saying that. and she said, i have one that you might like it ride. she said, you see that one over there. yeah. hitler bought that but it never got there. that was his happy day. he road that one horse. bradley came, bradley came and got me and brought me back. i went back to germany and he stayed there and i had to get all his stuff ready. out of his van and get his papers, maps, and everything. rolled up and put away. because he was going to leave. so the war was over in may. i stayed there until november to get him squared away. and okay, so i got all his things squared away and he said i should take a rest because

two days later he called me and said, you want to take me to austria. i said, where in austria. he said, i will ride the white horses. so the calgarymen in louisiana, they close down, the jeeps took over his sources. so he got permission to sell horses and get ready and the equipment and we didn't have no mo caliber. so they sold the horses to hollywood. and they gathered up and sold them to the people there in louisiana and the ones they couldn't get rid of, he opened the gate and let them go. he said, get rid of all the junk and we had no more calvary. he said he wanted to go to austria and ride the white horses. and two women owned the stables. you people know about white horses of austria? some of you don't know. they have the white horses. so we got there and i remember seeing two ladies that came out. they knew who he was, you know. and he said, i want to ride a white horse. and she said, all we have is white ones. i remember her saying that. and she said, i have one that you might like it

for france austria reliabefsf prompting thefund.lasted sowngrade the ninecountries. ontance and very odd as far as >> the the the eu agencies and disclosure of the data used to e debts. the worriedll hurt their abilityckle debt. it is at yeardowngrade of the yen is they will shift to of the countries whosegs were downg and ts positive monday. closed for day. to see opening this go toegard at the tokyo stock what kind of startseeing there? >>ai.e start. at the levels and a bitunting aft 1% on the up up 3 topix. nikkei closed week lowhe u.s. markets off monday may see nevertheless follo poors downgrade eurozone bailout fun the we may see capped there. the day also talking aboies and theeuro let's have ano the there. and yen you mentio did hit lows we saw a negative on orters with exposure to m canon, cinimum oath u.s. or week ains on earnings names like manufacturing and data is d this investors may stay ahead of th also, we havchina's gdp numbers, and we have seen considera growth in slight slow littlethere for companies sell markets. ramin, to add of catherine had a

and austria losing their plans to play greats join me for a closer look because. it's five pm here in moscow this is our to coming to you live with me and he said now a our top story the arab league is divided over a qatari proposal to send troops into syria tunisia as president has warned it could see violence flare up across the whole region but the emir of qatar is leading the calls for arab action in syria to put a stop to the ten month long fighting bear he was also a key player in the arab league's role in opposing colonel gadhafi is ruling libya meanwhile syria has announced the release of four prisoners during the uprising the move complies with the arab league peace plan which syria accepted in november. first reports from damascus. free at last strings of people leave the syrian prison into the arms of eagerly waiting family and friends and waiting to see loved ones who haven't been seen for many months prisoners delighted i'm relieved to be given back their freedom here at this prison on the outskirts of damascus these are the prisoners being selected f

heavy snow has brought almost everything to a stop in austri austria's western area. skiers are happily making due despite some complaining of how tiring it can be skiing through that deep snow. and you look at that beautiful snow, and you think about the fact that it was 60 degrees here in the northeast. >> in a lot of areas. so many places would love to ship some of that snow. all the ski resorts are struggling. it's almost a sad sight you have to go to austria. >> could we get some of that over here? >>> all right. time for an early look at some of the stories we'll follow throughout the day here on nbc. >>> if a first amendment battle that could head to the supreme court, a federal appeals court will review whether the small town of manchester, missouri, can enforce a law designed to prevent an anti-gay group from protesting near funerals. >>> in los angeles, a hearing is scheduled for singer chris brown. it's a progress report after brown pleaded guilty to assaulting his former girlfriend rihanna. >>> on a happier note, the dallas mavericks head to the white hous

and turning up the heat wave of credit rating downgrades pound europe depriving france and austria of their top notch grades a mounting concern that the bloc belling to control it that epidemic. next on our sea the author of dictatorship to democracy jean sharp's book is described by some as the blueprint for nonviolent revolutions and if she can now asked whether his concept is realistic. i'm sitting down with jean sharp his book from dictatorship to democracy is seen by many as a guide on how to carry out a revolution through nonviolent means it's often referred to as the bible of color revolutions dr sharp looking at how revolutions unfold in the arab world do you see it as transition from dictatorship to democracy. in the true and says. this is a bringing down the old system the old it's or the system and it doesn't seem to you that people there are trading one form of oppression for another their health that happens. if that happens and it's a good set to bring down a person. but. so they have to be very careful what we think stage actions were and very careful what they have now

[laughter] the gun wasn't made in germany it was made in austria. there was no model called the glock seven. ceramica was not involved in constructing it and you can't see on the detection machines. this speech, like "the new york post" headline and so many other similar episodes was pure gold. the gun aficionado's had a complete field day making fun of the speech. t-shirts were made up and all of this was done for free. the glock benefited from all of this. that is the origin from the ceramic gun from germany that i guess you can think bruce willis for that. anybody else? yes, the man the front. >> i know that people's possessions get very cemented about these things on both sides. so i'm wondering if weather in the various contacts you have with the speed and's associates and salesman did they feel the need at any time to address the moral dimensions of profited off of the weapon? >> i'm not sure people work for glock or any other gun manufacturer view the dimension in the sense that you were suggesting. by and large people who manufacture and mar

an international ice hockey big rivalry as you know you'll use the winter olympics get underway in austria. first of all and strike a sign a letter says he wants to end his career with russian premier league side angy the cameroon forward has been a big hit with the southern russian club since joining them last august on a three year contract the thirty year old has scored eight goals in eleven league games and is reportedly earning twenty million euros a year making him one of the world's highest paid players and apparently seven this in the league which is in the middle of its winter break however better says he remains committed to the club especially if they fulfil their ambition of achieving champions league football. who i think will end my playing career at a time she the quality of the football and the life i have that has been a real surprise i'm not that young now but even though i'm thirty because super eight to a very high level and john thirty five thirty six it depends on how much success we have and we return to european competition but if the project works the way our and t

and then you have austria on the south. >> the population of the czech republic now is how much? >> 10 million and the slovaks' have 5 million. it used to be a 15 million nation and it split 2 to 1. >> the capital is prague, which i understand is one of the most beautiful cities in the absolute world. >> that is correct. >> and a great tourist attraction, i would say. if you put all the czech people together, all of those of czech background, what are the characteristics of the culture and the people? >> it is difficult to ask an ambassador, of course. it is like, if i say something, it is self promoting. >> just the two of us. >> i think czechs are a very tolerant people. they can very much accept all sorts of different opinions, difference cultures. on the other hand, they have been through a very long time of communist oppression, so they are very particular about our national sovereignty, about any sort of state domination or something like that. so, this is why within europe, during the european debate, we basically have more in common with perhaps great britain and some of

nations including the aaa scores of france and austria to rogers joins us now via broadband he's a fine that's all commentator and co-founder of the quantum hedge fund thanks for being with us mr rogers s. and p's announcement like i said came after markets closed on friday it's been a tense weekend for financier's waiting to see how the markets open on monday so far the reaction com what does that indicate. no way it means that you shouldn't bother to pay any attention to the rating agencies everything they've done in the past fifteen or twenty years has been wrong i stopped bothering him long ago everybody knows that france is no longer aaa everybody knows that italy is no longer as highly rated as it used to be the market knows all of this this is not news i know you have to report something but this is not news to people in the market nevertheless sometime markets do react to these rating slashes bias in pay and other agencies specifically saying this time around that europe's austerity budget policies which you argue we already obviously know are not enough to get out of the debt c

glock companies are privately owned in austria. there is very little public financial -- we don't know exactly how much cash gaston glock has. my guess is he would not rate very high on the fortune list, the forbes list. that is because of the phenomenal period we have just been through with our own financial world where incomes have gotten so crazily out of black. this is the man who makes tangible product as opposed to conjures things up on wall street. his fortune is fast but we don't know how fast. >> in terms of the fortune, is he known for any good philanthropic deeds for example? >> no. the gentleman in the hat. >> my question is this. given the relative dominance of glock in the police department's, over two decades, what sort of performance record has accumulated in the realm of gunfights the police have gotten into? >> interesting question. there is no national database about -- that describes the performance of one firearm versus another. you are inevitably in the realm of anecdote talking to veteran police officers and

and turning up the heat a wave of credit rating downgrade pound here are depriving france in austria of their top notch grades. failing to control its debt. next we have an in-depth look for you at the prospects for a solution to the longstanding tensions between kosovo ethnic albanian and sir populations that's in our special report next on r.t. . this young serbian came here a couple of weeks ago. it's a well known bridging course of. it divides the city into two parts serbian and albanian. he thought he was going to fight to defend serbia but for now his only weapon is an axe and keeping his tent near the barricades is his only combat mission. he's only seen his potential adversary kosovar albanians from a distance there on the other bank of the river. because . this is serbian land both here in the other side of the breach. or the choppers coming here every day make a lot of noise. they keep children away. can do their jobs properly this unnerves the people. every hour helicopters make life uncomfortable for the slot georgevitch along with several thousand others living in the vi

france and austria are backing the funds. s&p last friday stripped these two countries of their prized aaa ratings and downgraded seven other nations including spain, italy and portugal. the one notch rating cuts for france and austria led to lowest reliability of the debts prompts rating agencies to downgrade the fund. meanwhile they released a statement on the s&p downgrade of the bailout fund. he stressed the downgrade will not reduce the lending capacity of 440 billion euros. the statement says the fund will continue to be backed by unconditional and irrevocable guarantees by member states. other ratings agencies and fits ratings maintain the topnotch rating. now here in japan finance minister says there will be no change in his government's policy to help out euro zone nations through esfs bond purchases. >> translator: we don't think confidence in these bonds will waiver. japan has been buying them constantly. and our stance will not change. >> on the possibility of japan's market intervention to halt the yen's sharp ri

spain sought its credit ratings cut and austria lost its aaa rating. other european countries were also said to be downgraded. the downgraded discussed here at the palace tonight and and other affected european capitals was not the only bad news for the eurozone today. talks aimed at reducing kris's debt burden has now run into difficulties. protests against spending cuts have continued. greece needs to do a new negotiation. there is the prospect of a greek default. >> it is 99% certain that they will be part of the debt. when you look at the greek economy and the rate it is contracting. >> friend's account support from germany saying that the judgment of the ratings agency should not be overestimated. the eurozone crisis was threatening once again. reaction fromome some of our other correspondents across europe. we begin first with the french capital. >> sarkozy is a prisoner of his own rhetoric. he spent much of last year promising to safeguard the aaa and now he probably regrets that because he had to back pedal fast and say it does not matter quite

france and austria are among six countries backing the bonds issued by the bailout fund. s and p stripped the countries of their prized aaa ratings and downgraded seven others, including spain, italy, portugal. one notch rating cuts for france and austria meant lower reliability of efsf debts, prompting the ratings agency to downgrade the fund. >>> the european union blasted s and p's decision to downgrade the nine eurozone countries. >> it is inconsistent on substance and very odd as far as timing is concerned. >> the spokesperson for the european commission also said the eu plans to toughen regulations on ratings agencies and called for disclosure of the data used to evaluate sovereign debts. the eu is worried down grades will hurt their ability to tackle debt. meanwhile, the euro continues to flounlder. it is at an 11 year low against the yen following downgrade of the european nations and the facility. yen is 97.31. they will shift to bond auction of the countries whose ratings were downgraded. >>> despite the weaker euro and down grades, european markets ended in the

france and austria are among the six countries backing the bonds issued by the bailout fund. s&p last friday stripped these two countries of their prized aaa ratings and downgraded several other nations including spain, italy and portugal. the one notch rating cuts for france and austria meant lower reliability of efsf debts prompting the ratings agency to downgrade the bailout fund. >>> the european union blasted s&p's decision to downgrade the nine euro zone country. >> it is inconsistent on substance and it's very odd farce the timing is concerned. >> the spokesperson also said the eu plans to toughen regulations on ratings agencies. he called for disclosure of the data they used to evaluate sovereign debts. the eu is worried that their downgrades will hurt its ability to tackle debt. meanwhile, the euro continues to flounder. the common currency is hovering at an 11-year low against the yen following the downgrade of the nine euro zone nations as well as the european stability facility. the euro now changing hands at 97.45 to 50 against the yen. market sources say the foc

in austria that has a aaa. rating and lost it and we gather. if it is banned the european financial. stability facility lost its standing. the situation in europe becomes moot difficult from a financial point of view to handle all s. and p. another reaching rating agencies they are often blamed for for for organizing for the global economic and canonic meltdown for for actually being the drivers of problems in world economy there's this reputation that they're losing doesn't still mean they still have a say in the world economic issues will they will they be listened to in dallas by the world leaders that we certainly have a big role because well mainly institutions insurance companies and pension funds which are large to have. assets of the sort. rate and therefore if borne loss' is a aaa rating it means that it looses a certain part of of the market in pyrrhic really. the rating agencies or tend to be behind but they are acting too late and if you take the more securities better they gave aaa or rating. the problem was about they thought. mor

winter olympics that got underway in austria on friday the official seemed happy with his prestigious task i would like to say that the olympic spirit in the run up to the senior games which will take place as the black sea resort in two years' time. will be the longest ever in terms of the duration of one two three one hundred twenty three. relays which will cover of the territory of the biggest the country and the walt all the time zones and we will cover the ninety five per cent of this biggest territory and the distance will be bigger than a quarter of the year more than forty five thousand kilometers but we will give the unique opportunity for all the people of russia to be in the game. and that's all the sports bison. is it is. it. more. becoming the bust out of state to block military intervention in syria is bloodshed continues but president dustup remains defiant blaming terrorist groups also by the west with the time well now and it's time to smog. mixed reactions france says it's not chronic pain in the wake of losing its top credit rating status germany warns europe becaus

standard and poor's downgraded nine european countries including the stronger ones like france and austria both received a negative outlook considering the european leaders inability to cope with the debt crisis the weaker spain and italy were downgraded to an economist say they are one step closer to the greeks and now rio being part of europe russia has to come up against the global challenges but as for now it's managed to cope and economy is still growing. oh mr alston to walk into the show thank you very much for coming my pleasure well on the eve of this year's davus i want to comment form the organizers warned that i quote the world is facing significant and urgent challenges that we have. of only on prospects for future growth and the cohesion of societies and quit while it's struck me that exactly the same words we used last year during the forum well it is just a repetition of the same very good phrase but does that mean that the world politician the world policymakers approved and mabel during the year to do anything to tackle the crisis except ride war it's. a pretty accurate a

the lowest unemployment rate among eurozone states was recorded in austria, at 4.0%. >>> the u.s. has released employment data for december and the results beat market expectations. the u.s. labor department says the jobless rate dropped 8.5% from 8.7%. the previous month. the figure was better than the market forecast of about 8.7% and the lowest in almost three years. employers generated 200,000 more jobs in the nonfarm sector, which sensitive to economic trends. the transportation and warehouse industry added 50,000 jobs. most of those gains occurred in the courier and messenger sector. >>> michael woodford's campaign to return to the top post at olympus is over. he says his tussle with the optical equipment maker has taken too much of a toll on his family. that means he won't lead a proxy fight on behalf of some investors to push for new management and a new board of directors in the wake of the company's accounting scandal. >> if i'd come back, even with the majority, olympus' main bank and creditor wouldn't want me. didn't want me, and i don't want to see that for olympus. i

winter olympics that got underway in austria on friday the official seemed happy with his prestigious task i would like to say that he has to share the olympic spirit in the run up to the senior games which will take place as the black sea resort in two years' time. will be the longest ever in terms of the duration of one two three one hundred twenty three the. relay which will cover of the territory of the biggest three in the walt all the time zones and we will cover the ninety five per cent of this biggest territory and the distance will be bigger than a quarter of the year more than forty five thousand kilometers but we will give the unique opportunity for all the people of russia to be in. that sort of bison. more news today violence has once again flared up. these are the images the world has been seeing from the streets of canada. giant corporations to rule the day. for. peace soon which brightened if you move about songs from fans to pressure. the screws don't talk t.v. dot com. caught up becomes the first out of state impact but a trip to venture to syria if bloodshed continu

the games begin the longer winter olympics get going on friday we have a low down what to expect in austria. says he wants to finish his career with a russian premier league outfit and. a cameron ford has been a big hits one of the southern russian clubs since joining them last year on a three year contract the thirty year old scored eight goals games perhaps hoping to justify his lot on a salary i reporter makes him the waltz highest paid player. says he remains committed to remaining with one g. . not thinking about a move abroad while he also touched upon the issue of racism in russian football. today i think i will finish my career and now the life i have is such a surprise i'm not too young but even even thirty years old i can still play to a very very good level and to thirty five thirty six years old it depends on the amount of success i have whether i return to competition in europe but if the project works how i wish now and you want i will finish my career here in russia i haven't experienced racism we know that roberta connors has known band experience but generally i think it's

also, austria and germany will remain a aaa. this has been very good news there that investors heard here. and it felt great rief, the dax s been jumping up by nearly 2%. on the software shares went down sharply. germany's second-biggest software maker announced that the company missed its target for last year. software papers lost by nearly 20%. and sap shares went down. >> we will stay in frankfurt f r the blue-c-chip dax up by a 2.4% at the closing bell. the euro stoxx 50 finishing at 2347, gaining. in new york, the dow up by 0.6%, 12,466. the euro trading at a value of $1.2787. running the world's most valuable brand, apple has made it tim cooke the highest paid ceo in the u.s. he did over as ceo shortly before steve jobs died in october, and he has been rewarded handsomely for what apple's board called his critical contribution to the company's success and a smooth leadership transition.n. earnings documents filed for 2011 show that his pay package was valued at $378 million, mostly made up of apple shares. by contrast, the

begin and overall you winter olympics skate going on friday we have the lowdown on what to expect in austria. possible for one samuel eto says he wants to finish his career at the russian premier league side. cameron ford has been a big hit of a southern russia club since joining them last year and a three year contract the thirty year old scored eight goals seventy games was helping to justify his annual twenty million euro salary which reportedly made him the was highest paid player however it's all says he remains committed to remaining with angie saying he's not thinking about a move abroad while he also touched on the issue of racism within russian football . today i think i will finish my career and now the life i have is such a surprise and not too young but even even thirty years old i can still play at a very very good level until thirty five thirty six years old it depends on the amount of success i have whether i return to competition in europe but if the project works how i wish now and you want i will finish my career here in russia i haven't experienced racism we know that robe

the games organizing committee to flame relay an all girl youth winter olympics by got underway in austria and friday there fishel seemed happy with his prestigious task like his companions to share the limp experience in the run up to the senior games which will take place in the black sea resort of sochi in two years' time. it will be the longest ever in terms of the duration the one two three one hundred twenty three days relay which will cover of the territory of the biggest con three in the vault all nine time zones and we will cover the ninety five per cent of the biggest territory in the distance will be bigger than it what the whole of the year more than forty five thousand kilometers but we will give the unique opportunity for all the people of russia to be in gaze. right around surveyed sport is coming up next and carol be here with all the latest news. well with the. technology innovation all the developments around russia. the future. if you. could take three. three. three. three. two three. three blog. for your media project free media. the week's top stories on our take the s

the lowest unemployment rate among eurozone states was recorded in austria, at 4.0%. >>> the u.s. has released employment data for december and the results beat market expectations. the u.s. labor department says the jobless rate dropped 8.5% from 8 .7%. the previous month. the figure was better than the market forecast of about 8.7% and the lowest in almost three years. employers generated 200,000 more jobs in the nonfarm sector, which sensitive to economic trends. the transportation and warehouse industry added 50,000 jobs. most of those gains occurred in the courier and messenger sector. >>> michael woodford's campaign to return to the top post at olympus is over. he says his tussle with the optical equipmentmaker has taken too much of a toll on his family. that means he won't lead a proxy fight on behalf of some investors to push for new management and a new board of directors in the wake of the company's accounting scandal. >> if i'd come back, even with the majority, olympus' main bank and creditor wouldn't want me. didn't want me, and i don't want to see that for olympus. i

once in austria of the top notch grades of mounting concern that the blocks failing to control its debt epidemic. also russia's failed mars probe focus groups fall into the ocean two months after its launch dispelling fears it might cause damage to the to earth on return but we have been getting conflicting reports about whether it's actually ended up in the pacific all the atlantic or somewhere in between the one of the next couple of hours. midnight thirty one moscow time next then the author of dictatorship to democracy speaks to us gene sharp's books described by some as the blueprint for nonviolent revolutions art is going to teach you can now ask whether that concept though is realistic. i'm sitting down with gene sharp his book from dictatorship to democracy is seen by many as a guide on how to carry out a revolution through nonviolent means it's often referred to as the bible of color revolutions dr sharp looking at how revolutions and fall in the arab world do you see it as transition from dictatorship to democracy i see a first step in the. in the sense of bringing down the al

and teenage kids inaugural youth winter olympics start in austria this friday we have the lowdown on the big names to watch the stars for the future. first of all the striker samuel eto says he wants to end his career with russian premier league side angie cameron forward has been a big hit to the southern russian club since joining the last august through a contract the thirty year old has scored eight goals in eleven games was reportedly twenty million euros a year better than what the words live by players occurring seventh in the week which is that i would leave it to them to break however it says he remains committed to the club especially if they fulfil their ambition the champions champions league football. today i think i will finish my career and she now the football in the life i have with such a surprise i'm not too young but even if on thirty years old i can still play at a very very good level until thirty five thirty six years old but it depends on the amount of success i have whether i return to competition in europe but if the project works how i wish and how angie wa

begin be in order all winter olympics get going on friday we have the lowdown on what to expect in austria. on the ice where we started with the continental hockey league it's not too often the heavyweights c.s.k. . struggle to make an into the playoffs but a place in the last sixteen was essentially up for grabs when the sides met on that whedon's day constantine to top off watch the action. ok darby between sports talk into his car was to become even more important as the teams battled hard for a place which comes with a chance of a playoff in the western conference both sides were under extreme pressure to ask us off for ten defeats in eleven matches among them a repeat of the cage hill record a humiliating loss to our move a nothing well spark tuck struggle to get back on winning form with a new coach behind the bench and they should aim to with no real science for success the game started cautiously with both teams putting defense first the hosts had possession but it was the visitors who broke the deadlock mean away through the opening period we call it a fork in must first in the re

in austria. on the ice where we start and with the kontinental hockey league it is not too often that. struggle to make it into the playoffs but place in the last sixteen was essentially what was off for grabs when the sides met when constantine to top off watch the action. ok the darby between sparta tuck into his car was to become even more important as the teams battled hard for eighth place which comes with a chance of a playoff in the western conference both sides were under extreme pressure to scott's offer to end the feeds in eleven matches among them a repeat of the cage hill record a humiliating last two or more nothing while spar tuck struggled to get back on winning form with a new coach behind the bench and they said a anchor with no real science for success the game started cautiously with both teams putting defense first the hosts had possession but it was a day visitors who broke the deadlock mean away through the opening period but a horror king was forced from the rebound after y

lower the rating by a notch in response, french president sarkozy holding crisis talks and reports that austria could lose their aaa rating and italy, spain, and portugal could see their ratings drop by at least two for whichs. and, by the way, it could boomerang back to us and we could go down a notch as banks continue to face incredible pressures. j.p. is seeing profits plummet 23 percent last quarter and europe's problems being blamed and a lot of banks here exposed big time to what is going on over there including bank of america now warning things are getting so tough it is ready to retreat from u.s. markets. if the president is banking on a strong u.s. economy to win for more years economic forecaster says it is not looking too good. and to harry's credit, he did say a lot of this stuff would fall this year. harry it is coming into play here. what do you making of this? >>guest: well, i agree, europe, we have said this, young debt crisis will come back and keep coming back, temporary band-aids will not work. the bond markets pulled the plugs and germany is saying you have to have austerit

the currency union second largest economy which has been stripped of its top notch status along with austria the e.u. commission has described the decision as inconsistent says our silvia has more from brussels. this comes at a time when optimism was just about going up when it comes to the euro zone with some positive data coming out first week of two thousand and twelve well clearly a new such as this would again down to investor confidence and a stall that process now france one of the countries is leading the efforts and bringing about this fiscal compact agreed upon by the european leaders now this downgrade of frenzy was not entirely unexpected i mean s. and p. had given it warnings the last year and even a lot of the analysts we've been talking to had said that a french downgrade was imminent so now that it has actually happened still the markets reacted negatively to all of this is happening because of france's role in the bailouts is one of the reasons in the role in the bailouts of greece of italy through the european central bank as well as of portugal so it has left the financial

imposing on people isn't working standard and poor's lowered nine countries scores with france and austria stripped of their top aaa status but reaction around the euro zone was mixed with some expressing disbelief and others like germany's foreign minister calling for europe to have its own ratings agency south or angela merkel said there is a long road ahead when it comes to rebuilding investor confidence yet there's now a nervous wait to see how world stock markets will respond on monday dunlop when from the institute for democracy and cooperation in paris says europe's leaders have become accustomed to blaming the ratings agencies for their trouble downgrading shows that those strongest countries are not as strong as we thought they were even austria has been downgraded so this idea that a call europe can somehow save the periphery even though it is not an ability it's true that these agencies are not above reproach they've made a lot of mistakes in the past and goodness knows the financial services industry including the ratings agencies is far from perfect but i think that european l

its last the credit scores of nine countries on friday including france which lost its aaa status and austria another ratings agency moody's says it will maintain france's top rating but will continue to review this position despite all this there was no panic among leaders at least publicly germany's foreign minister has even proposed a europe that its own credit agencies financial commentator john rogers says that facing the u.s. base rate in companies is fast running out. he shouldn't but bother to pay any attention to the rating agencies everything they've done in the past fifteen or twenty years has been wrong the fact is you do need somebody competent and somebody who can examine and decide who is who is often and who is not so you know it's only until a few months ago that they had the united states has a aaa credit united states is the largest debtor nation in the history of the world it's absurd that it's true as was aaa so you just need somebody competent who can go in there it doesn't matter whether it's russian or australian american or european just so you have somebody competent

downgrading shows that those strongest countries are not as strong as we thought they were even austria has been downgraded so this idea that a call europe can somehow save the periphery even that is not hannibal and it's true that these agencies are not above reproach they've made a lot of mistakes in the past and goodness knows the financial services industry including the ratings agencies is far from perfect but i think that european leaders are being completely paranoid when they blame the ratings agencies for their problems any fool can see that there is a massive debt problem in europe the fact is there's been a lull in the crisis but that was really to do with the christmas or new year holidays they have assessed the situation and they have come to the conclusion as have many other people that the situation in the eurozone is untenable and i think when the euro finally collapses as it will do surely within i would think probably the next year that we will see this announcement downgrading of france and as having been one of the decisive moments. well germany came out of the downg