Browse content similar to 28/06/2011. Check below for episodes and series from the same categories and more!
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Petrol bombs on the streets of Athens as a general strike against | :00:06. | :00:13. | |
further austerity measures turns violent. Clashes outside parliament | :00:13. | :00:21. | |
on the eve of a crucial vote on more spending cuts and tax rises. | :00:21. | :00:24. | |
After all the tension, bitterness and frustration of recent days, it | :00:24. | :00:29. | |
was almost inevitable that there would be an outbreak of violence. | :00:29. | :00:32. | |
Further clashes tonight, as Greece is told it must pass the measures | :00:32. | :00:37. | |
to get international help to stop it going bankrupt. We'll be | :00:37. | :00:39. | |
assessing whether the Greek government can deliver the | :00:39. | :00:44. | |
necessary reforms. Also tonight... As public sector workers prepare to | :00:44. | :00:46. | |
strike on Thursday, David Cameron insists plans to reform their | :00:46. | :00:56. | |
:00:56. | :01:00. | ||
These strikes are wrong for you, for the people you serve, for the | :01:00. | :01:04. | |
good of the country. Another high street chain in | :01:04. | :01:07. | |
trouble, as household incomes see their biggest fall since the late | :01:07. | :01:09. | |
1970s. Hidden charges on credit and debit | :01:09. | :01:13. | |
cards - travel companies are told to be upfront with the customer. | :01:13. | :01:16. | |
And what a difference 24 hours makes as Wimbledon's defending | :01:16. | :01:26. | |
:01:26. | :01:52. | ||
champion, Rafael Nadal, brushes off Good evening. There have been more | :01:52. | :01:55. | |
violent clashes on the streets of Athens tonight after a day of | :01:55. | :01:56. | |
protests against the Greek government's latest austerity | :01:56. | :02:00. | |
measures. Masked demonstrators threw petrol bombs at riot police | :02:00. | :02:04. | |
on the eve of a key vote on more spending cuts and tax rises. With | :02:04. | :02:08. | |
Greece on the brink of bankruptcy, the government has to win the vote | :02:08. | :02:11. | |
tomorrow to secure an emergency international loan. Without it, | :02:11. | :02:14. | |
Greece will run out of money within weeks. From Athens, our Europe | :02:14. | :02:24. | |
:02:24. | :02:27. | ||
Late into the evening, there were clashes between police and | :02:27. | :02:32. | |
protesters outside Parliament. All pot of the day of protest against | :02:32. | :02:37. | |
an austerity package which Greek MPs will vote on tomorrow. Earlier, | :02:37. | :02:43. | |
the protest had turned violent. For hours there were running battles in | :02:43. | :02:48. | |
the square outside Parliament. Communications trucks were attacked | :02:48. | :02:52. | |
and set on fire. After all the tension, bitterness and frustration | :02:52. | :02:56. | |
of recent days, it was almost inevitable that there would be an | :02:56. | :03:03. | |
outbreak of violence. The police fired hundreds of volleys of stun | :03:03. | :03:07. | |
grenades and tear gas to clear the area in front of Parliament. Inside | :03:07. | :03:12. | |
the Greek government, there is real anxiety about the extent of these | :03:12. | :03:17. | |
protests. Away from the centre of the city, most parts of the Greek | :03:17. | :03:25. | |
economy were brought to a halt by a 48-hour strike. The government | :03:25. | :03:30. | |
insists austerity measures are needed to qualify the country for a | :03:30. | :03:35. | |
further emergency loan from the EU and the IMF. Without them, the | :03:35. | :03:39. | |
country is heading for bankruptcy, they say. But many Greeks do not | :03:39. | :03:44. | |
accept that. This does not get us out of the crisis. They are lying, | :03:44. | :03:48. | |
everybody knows that. Time and again, ordinary Greeks told me they | :03:48. | :03:58. | |
:03:58. | :03:59. | ||
were not to blame for the debt crisis. The IMF and the European | :03:59. | :04:03. | |
Union and the Greek government are trying to make us pay a debt which | :04:03. | :04:05. | |
trying to make us pay a debt which we did not create. The Greeks are | :04:05. | :04:12. | |
facing years of budget cuts, �25 billion by 2015. 150,000 public- | :04:13. | :04:18. | |
sector jobs will go. There will be a range of new tax increases, | :04:18. | :04:22. | |
including some on the lowest paid. Over and above all of that, �44 | :04:22. | :04:28. | |
billion worth of state assets will be sold off. In the debate in | :04:28. | :04:31. | |
parliament, the opposition made it clear they do not accept the | :04:31. | :04:32. | |
clear they do not accept the Government's argument for more | :04:32. | :04:40. | |
austerity. I also fought, said the Leader of | :04:40. | :04:44. | |
the Opposition, so that I could send a message that the | :04:44. | :04:48. | |
Government's's policy is wrong, and has surpassed the limits which the | :04:48. | :04:55. | |
Greek people can handle. Government supporters were defiant. I believe | :04:55. | :05:00. | |
today's protests just make it stronger for us to believe and see | :05:00. | :05:05. | |
and understand the responsibility of our vote. Late tonight, and many | :05:05. | :05:09. | |
Greeks are still on the streets, defying the pleadings from the | :05:09. | :05:12. | |
European Union and the IMF that there is no alternative to | :05:12. | :05:16. | |
austerity. And we can speak to Gavin in Athens | :05:16. | :05:25. | |
now. There is such intense pressure on the Greek government, they seem | :05:25. | :05:31. | |
to be stuck between a rock and a hard place. That's right. There are | :05:31. | :05:36. | |
skirmishes still going on, the air is heavy with tear gas. There is | :05:36. | :05:40. | |
something of a rock concert going on in the Square, and people are | :05:40. | :05:44. | |
attacking government ministries. That's the domestic pressure. And | :05:44. | :05:48. | |
we are after midnight here in Athens. But there's also huge | :05:48. | :05:52. | |
pressure coming from Europe. The President of the European Council | :05:52. | :05:56. | |
today said these were critical hours for Greece and for the | :05:56. | :06:00. | |
eurozone. The new head of the IMF, appointed today, said, if I have | :06:00. | :06:07. | |
one message for Greece, it is that they have to find national unity in | :06:07. | :06:10. | |
support of the Government's austerity measures. But so far, | :06:10. | :06:15. | |
there's little sign that that is appearing. Another EU commissioner | :06:15. | :06:19. | |
said this was a moment of great crisis for the eurozone. I think | :06:19. | :06:23. | |
tomorrow it is likely that these austerity measures will be passed. | :06:23. | :06:27. | |
But the big question is, bearing in mind what is going on behind me at | :06:27. | :06:35. | |
the moment, will faithfully be able Here, David Cameron has told around | :06:35. | :06:38. | |
three quarters of a million public sector workers in England and Wales | :06:38. | :06:41. | |
that it's wrong for them to strike on Thursday over planned reforms to | :06:41. | :06:44. | |
their pensions. The Prime Minister told the teachers, lecturers and | :06:44. | :06:47. | |
civil servants that the proposed changes were "essential and fair". | :06:47. | :06:57. | |
:06:57. | :06:57. | ||
Our deputy political editor, James For sum, it is time to get ready to | :06:57. | :07:01. | |
strike. Across the country, activists like these are cutting | :07:01. | :07:05. | |
and pasting and sticking their placards, preparing for Thursday, | :07:05. | :07:08. | |
when up to three-quarters of a million public sector workers are | :07:09. | :07:12. | |
expected to close hundreds of schools, courts, Jobcentres and | :07:12. | :07:19. | |
other government offices in protest against pension changes. | :07:19. | :07:24. | |
My pension will be worth �46,000 less. I will have to work an extra | :07:24. | :07:29. | |
six years for that, and also pay �60 extra a month, which I will | :07:29. | :07:34. | |
find very difficult. In Birmingham today, David Cameron avoided a | :07:34. | :07:38. | |
demonstration outside, but inside he threw his personal weight behind | :07:38. | :07:42. | |
the pension reforms, saying they were fair to the taxpayer, and | :07:42. | :07:45. | |
would still leave many in the public sector better off than those | :07:45. | :07:49. | |
in the private sector. To those considering strike action | :07:49. | :07:54. | |
at a time when discussions are ongoing, I would say to you, these | :07:54. | :07:58. | |
strikes are wrong - for you, for the people you serve and for the | :07:58. | :08:02. | |
good of the country. The problem is that we are all | :08:02. | :08:07. | |
living about six years longer than we were in 1980. That means the | :08:07. | :08:12. | |
public sector pension funds are facing a black hole of almost �10 | :08:12. | :08:16. | |
billion by 2015. So the Government wants most public sector workers to | :08:16. | :08:22. | |
pay more into the pensions, and to work until they are 66. David | :08:22. | :08:25. | |
Cameron was not just making his case to the unions, he was | :08:25. | :08:29. | |
appealing to a wider audience. The battle for public opinion will be | :08:29. | :08:34. | |
as vital as the argument over the detail. The leader of one of the | :08:34. | :08:37. | |
unions striking this week insisted it was sprinter who was getting it | :08:37. | :08:40. | |
wrong. I think the Prime Minister's | :08:40. | :08:43. | |
comments today show how out of touch he is with ordinary people in | :08:44. | :08:48. | |
this country. He is urging them not to strike while forcing them to | :08:48. | :08:51. | |
work eight years longer, pay thousands of pounds more and get | :08:51. | :08:56. | |
half of the pension back. Once upon a time, activists might have relied | :08:56. | :09:01. | |
on the unconditional support of the Labour Party, but not today. | :09:01. | :09:05. | |
I think the strikes are a mistake. They should not be going ahead | :09:05. | :09:09. | |
because they will inconvenience parents and children. Public sector | :09:09. | :09:12. | |
pensions need to be reformed, but the Government has got to take its | :09:12. | :09:16. | |
share of the responsibility, because they have gone about the | :09:16. | :09:19. | |
negotiations in a reckless and provocative way. My message to both | :09:19. | :09:25. | |
sides is, get round the table. now, the politicians' appeals are | :09:25. | :09:29. | |
falling on deaf ears, and the negotiations and preparations for | :09:29. | :09:37. | |
the strikes continue. One of the main hotels in Kabul in | :09:37. | :09:41. | |
Afghanistan is under attack tonight. At least 10 people are reported to | :09:41. | :09:44. | |
have been killed. The Intercontinental is on a hill on | :09:45. | :09:48. | |
the edge of Kabul, it is one of the few Western-style hotels in the | :09:48. | :09:52. | |
city. The streets around it have been sealed off. There are reports | :09:52. | :09:55. | |
of three suicide bombers detonating their explosives, heavy machine-gun | :09:55. | :10:00. | |
fire, and one attacker is said to be targeting security forces from | :10:00. | :10:03. | |
the hotel would. The Taliban is reported to have claimed | :10:03. | :10:09. | |
Household incomes have suffered their biggest fall for more than 30 | :10:09. | :10:12. | |
years. The new figures came as the Bank of England Governor, Mervyn | :10:12. | :10:14. | |
King, warned the country was facing a "very substantial squeeze" on | :10:14. | :10:17. | |
living standards. Retailers are feeling the effects - the discount | :10:17. | :10:20. | |
department store TJ Hughes and Thorntons are the latest on the | :10:20. | :10:23. | |
high street to run into trouble. Our chief economic correspondent, | :10:23. | :10:33. | |
:10:33. | :10:35. | ||
It is a hard road ahead for households. The prices of many | :10:35. | :10:40. | |
everyday items are rising rapidly and pushing up inflation. But wage | :10:40. | :10:45. | |
increases are lagging behind, leaving people worse off. Today, | :10:45. | :10:49. | |
the Bank of England's Governor, challenged about high inflation, | :10:49. | :10:54. | |
told MPs he understood the pressures facing families. | :10:54. | :10:59. | |
Inflation is clearly uncomfortably high, this is a symptom, not a | :10:59. | :11:04. | |
cause, of a very substantial squeeze on real living standards. I | :11:04. | :11:08. | |
do not believe it is easy to do much about that. This is the way in | :11:08. | :11:12. | |
which we as a country are adjusting to the consequences of the | :11:12. | :11:16. | |
financial crisis. Official figures confirmed the | :11:16. | :11:26. | |
:11:26. | :11:28. | ||
It is the biggest fall in household income since 1977. Household | :11:28. | :11:34. | |
spending has fallen by 0.5% over the same period. All that helps | :11:34. | :11:40. | |
explain why more retailers have run into trouble. The department store | :11:40. | :11:44. | |
chain TJ Hughes said today it was set to call in administrators - | :11:44. | :11:48. | |
4,000 jobs are at risk. Chocolate maker Thorntons said it would shut | :11:48. | :11:57. | |
at least 120 shops over three years. Yesterday, the this is chain -- the | :11:57. | :12:07. | |
fashion chain Jane Norman went into administration. More people are | :12:07. | :12:11. | |
shopping on the Internet, more non- food spending, which is putting | :12:11. | :12:16. | |
pressure on some long-established high-street names. Shoppers and | :12:16. | :12:21. | |
retailers may be feeling the pain, but some argue this is part of a | :12:21. | :12:25. | |
necessary rebalancing, with a move away from borrowing and consuming | :12:25. | :12:32. | |
towards saving and investment. Manufacturing is growing steadily, | :12:32. | :12:36. | |
boosted by strong exports, and there have been calls for policy | :12:36. | :12:39. | |
makers to support growth in this kind of industry. | :12:39. | :12:43. | |
They have got to find a way of recruiting the economy, getting | :12:43. | :12:48. | |
growth to come from investment and trade, replacing the consumption | :12:48. | :12:53. | |
driven growth of the past 10 years with something more substantial. | :12:53. | :12:57. | |
The theory is that there will be long-term gain for the economy, but | :12:57. | :13:04. | |
involves pain right now for the high street and for the consumer. | :13:04. | :13:08. | |
In Libya, rebels say they have captured a major underground | :13:08. | :13:13. | |
complex of weapons bunkers. They were able to take the arms dump | :13:13. | :13:18. | |
following a NATO air strike. Our world affairs correspondent, Mark | :13:18. | :13:24. | |
Doyle, was taken to the front line to see it. | :13:24. | :13:30. | |
We arrived shortly after a rebel fight to clear the arms dump of any | :13:30. | :13:34. | |
Coloureds still loyal to Colonel Gaddafi, but not before rebel | :13:34. | :13:39. | |
sympathisers had begun collecting their prize. The opposition | :13:39. | :13:49. | |
:13:49. | :13:50. | ||
fighters in this part of Libya are mainly ethnic Berbers. They now | :13:50. | :13:53. | |
want their share of the rebel action. They have pushed forward, | :13:53. | :13:58. | |
but not without difficulty. When we joined them at their front line on | :13:58. | :14:03. | |
the way to Tripoli, a burnt-out car was being salvaged, they need the | :14:03. | :14:13. | |
:14:13. | :14:20. | ||
spare parts. And Colonel Gaddafi's Go, go, go. We escaped without | :14:20. | :14:27. | |
problems. But there have been many casualties on the rebel side. This | :14:27. | :14:32. | |
man was shot in the wrist with a large-calibre bullet. It was touch | :14:32. | :14:36. | |
and go whether he would keep the use of his hand. The rebels tell us | :14:36. | :14:42. | |
that NATO bombed the arms depo a few days ago and the complete | :14:43. | :14:45. | |
obliteration of this bunger is evidence enough. Until now, the | :14:45. | :14:50. | |
rebels have always insisted they're the ones at a disadvantage because | :14:50. | :14:54. | |
they have only small arms while Colonel Gaddafi has the long-range | :14:54. | :14:58. | |
artillery. The capture of this arms and ammunition dump may change all | :14:58. | :15:03. | |
that. The next time the rebels go to their frontline, fresh arms and | :15:03. | :15:10. | |
ammunition are likely to go with them. | :15:10. | :15:20. | |
:15:20. | :15:21. | ||
Coming up on tonight's programme: Booming in Brazil - how Latin | :15:21. | :15:23. | |
America is racing ahead where Britain trails behind. | :15:23. | :15:25. | |
Universities in England will be able to compete for more students | :15:25. | :15:32. | |
under plans unveiled by the Government today. With fees due to | :15:32. | :15:35. | |
rise in 2012 to a maximum of �9,000 a year, Ministers say it means | :15:36. | :15:39. | |
students will be able to judge if they are getting the best return | :15:39. | :15:41. | |
for their money. Our education correspondent Reeta Chakrabarti is | :15:41. | :15:44. | |
here with the details. Thank you, Sophie. Well, English | :15:44. | :15:49. | |
universities come in many shapes and sizes, offering academic and | :15:49. | :15:54. | |
vocational courses. Their differences will be more stark from | :15:54. | :15:58. | |
next year with tuition fees ranging from a maximum of �9,000 to �6,000 | :15:58. | :16:01. | |
with further education colleges doing degrees for less. Ministers | :16:01. | :16:04. | |
want future students to know more about what they'll get, viewing | :16:04. | :16:06. | |
them as consumers who'll demand more because they'll be paying more. | :16:06. | :16:09. | |
So students will be able to compare universities according to hours of | :16:09. | :16:12. | |
teaching, teaching quality and what the expected future salary is for | :16:12. | :16:21. | |
graduates once they leave. We will put students at the heart of the | :16:21. | :16:25. | |
system, improving the academic experience with universities and | :16:25. | :16:28. | |
colleges more accountable to their students than ever before. We will | :16:28. | :16:34. | |
also take steps to improve social mobility without compromising | :16:34. | :16:38. | |
academic excellence or institutional autonomy. There are | :16:38. | :16:43. | |
other changes to the university landscape too. At present, student | :16:43. | :16:46. | |
numbers are fixed for each institution, but next year they'll | :16:46. | :16:51. | |
compete for a quarter of those students, with the prestigious | :16:51. | :16:53. | |
university recruiting more of the brightest, getting at least two As | :16:54. | :16:58. | |
and a B and new universities being allowed to recruit more on prize, | :16:58. | :17:02. | |
any courses costing less than �7,500, but because the overall | :17:02. | :17:06. | |
number of students will stay the same, allowing some to expand means | :17:06. | :17:10. | |
that some could get squeezed and be forced to close. | :17:10. | :17:14. | |
This London university could be one to feel the pressure. It's charging | :17:14. | :17:19. | |
an average of �7,500. Its Vice Chancellor is worried he could lose | :17:19. | :17:22. | |
up to a third of his students. Inevitably, universities in the | :17:22. | :17:28. | |
middle perhaps who can't compete with the A-A-B, an upward shift of | :17:28. | :17:32. | |
that could get squeezed. Of course that's a real concern because we | :17:32. | :17:35. | |
offer the widening participation. We offer the students who have not | :17:35. | :17:38. | |
had chance to go to university before, the first of their families | :17:38. | :17:42. | |
ever to go into higher education. Critics say expanding cheaper | :17:42. | :17:45. | |
universities is all about cutting costs because it's the Government | :17:45. | :17:48. | |
that pays the tuition fees up front and at least half of the | :17:48. | :17:52. | |
universities are charging the maximum for all or some courses. | :17:52. | :17:56. | |
Far more universities are charging �9,000 than the Government planned | :17:56. | :17:59. | |
for, causing huge political embarrassment for the Government | :17:59. | :18:03. | |
and creating a funding crisis with the Treasury, and that the real | :18:03. | :18:07. | |
substance of this White Paper is a desperate drive to cut fees no | :18:07. | :18:15. | |
matter what the effect on quality. These are big changes, and tomorrow | :18:15. | :18:18. | |
the Education Secretary in Scotland will outline how he plans to plug a | :18:18. | :18:20. | |
multi-million-pound university funding gap. Ministers have ruled | :18:20. | :18:23. | |
out raising fees for Scottish students, but might charge those | :18:23. | :18:27. | |
from England, Wales and Northern Ireland more. | :18:27. | :18:30. | |
Thank you very much. Travel companies have been | :18:30. | :18:33. | |
threatened with legal action by the Office of Fair Trading over | :18:33. | :18:36. | |
misleading charges for online debit and credit card bookings. The | :18:36. | :18:38. | |
Government says it will work with the regulator to ensure people | :18:39. | :18:43. | |
don't face excessive surcharges when using their cards online. Our | :18:43. | :18:49. | |
personal finance correspondent Simon Gompertz reports. | :18:49. | :18:55. | |
Credit and debit card charges have taken off, with easyJet adding at | :18:55. | :19:00. | |
least �8 to most card sales and total airline surcharges climbing | :19:00. | :19:05. | |
to �300 million a year. Rail booking agencies are charging too. | :19:05. | :19:10. | |
Trainline levies �3.50 for credit card bookings. Charges for using | :19:10. | :19:15. | |
debit cards should be banned, says the Office of Fair Trading, but for | :19:15. | :19:19. | |
now, it's threatening court action where it judges that consumers are | :19:19. | :19:25. | |
being misled over what surcharges they have to pay. We're glad that a | :19:25. | :19:29. | |
number of companies have agreed to increase the transparency of their | :19:29. | :19:32. | |
fur charging but where they don't go far enough, we'll take action to | :19:32. | :19:37. | |
ensure that consumers can make the right choice. On the High Street | :19:37. | :19:40. | |
you rarely, if ever, face those charges, so what you see is what | :19:40. | :19:44. | |
you get, even though bank and card companies charge the shops to | :19:44. | :19:47. | |
process the payments. If you're buying online, you can't use cash, | :19:47. | :19:51. | |
and often what you see is not what you get because it can be hard to | :19:51. | :19:55. | |
find out what the surcharges are, so you could end up paying tens of | :19:55. | :20:01. | |
pounds to use a card when in fact the cost of processing the payment | :20:01. | :20:07. | |
is 2% if it's a credit card and just 20p on average if it's a debit | :20:07. | :20:10. | |
card. EasyJet and Trainline said they'd work with the Office of Fair | :20:10. | :20:16. | |
Trading, though Ryanair argued that it wouldn't have to change its fees. | :20:16. | :20:21. | |
Shoppers in Belfast made it clear how much they disliked card | :20:21. | :20:25. | |
surcharges. Surely, it would be more convenient for them paying by | :20:25. | :20:28. | |
card, you know, as opposed to anything else. What's the | :20:28. | :20:30. | |
alternative? There is no alternative. It's ridiculous. I | :20:30. | :20:34. | |
think you ask for one payment. That's all you should be paying, | :20:34. | :20:38. | |
shouldn't be paying any extra. There could be more restrictions in | :20:38. | :20:43. | |
store for surcharges. A European directive is being drawn up to | :20:43. | :20:46. | |
prevent companies levying anymore than processing the true cost of a | :20:46. | :20:50. | |
payment. Now, while Greece grapples with its | :20:50. | :20:53. | |
huge national debt and the rest of Europe tries to extricate itself | :20:53. | :20:56. | |
from the legacy of the financial crisis three years ago, other parts | :20:56. | :21:00. | |
of the world are booming. One of those countries is Brazil. With its | :21:00. | :21:03. | |
wealth of natural resources, the country grew by over 7% last year. | :21:03. | :21:09. | |
But could the boom be fuelling a new bubble? Our economics editor | :21:09. | :21:13. | |
Stephanie Flanders has been to find out. | :21:13. | :21:18. | |
Brazil today feels like the opposite of the UK. House prices, | :21:18. | :21:24. | |
investment, growth - it's going down in Britain. In Brazil, it's | :21:24. | :21:30. | |
going up. Brazil's economy grew by 7.5% last year compared with just | :21:30. | :21:33. | |
1.3% growth in the UK. We're hitching a free ride up the coast | :21:33. | :21:39. | |
to see how the richest man in the country plans to exploit its | :21:39. | :21:44. | |
biggest advantage - its abundant natural resources, including newly | :21:44. | :21:48. | |
discovered oil. Unlike us, they're better off when the price of all of | :21:48. | :21:51. | |
these basic commoditys is going up. When it's finished, this new super- | :21:51. | :21:55. | |
port will be the biggest in the Americas this. Pier runs three | :21:55. | :21:58. | |
kilometres out from the mainland and when it's done, you'll be able | :21:58. | :22:02. | |
to get four container ships all docking here at the same time. | :22:02. | :22:06. | |
There will be another port further out able to take the biggest tanker | :22:06. | :22:09. | |
in the world, the Chinamax, and the clue is in the name. The bulk of | :22:09. | :22:13. | |
the business of this place for the foreseeable future will be sending | :22:13. | :22:17. | |
raw materials like iron ore to China. | :22:17. | :22:22. | |
Eike Batista's father sold raw materials to Japan when it was | :22:22. | :22:26. | |
taking off. His son, already worth $30 billion, wants to do the same | :22:27. | :22:31. | |
for China. The rich resources, OK, in Brazil, we have a lot of them | :22:31. | :22:37. | |
still. The Chinese are mining 4% iron ore in the ground. We mine 40% | :22:37. | :22:43. | |
iron ore. But as usual, when it comes to China, the traffic isn't | :22:43. | :22:48. | |
all one-way - far from it. The growth of the last ten years has | :22:48. | :22:51. | |
created a whole new class of consumer here in Brazil, but | :22:51. | :22:55. | |
they're not spending their new money on Brazilian goods. Last year | :22:55. | :22:59. | |
alone, imports from China went up by 60%. Most of what you can see | :22:59. | :23:07. | |
here is made in China, and so were 80% of the costumes in this year's | :23:07. | :23:10. | |
Rio Carnival. Money has been pouring into property - maybe a bit | :23:10. | :23:15. | |
too much of it. In some Rio shanty towns, prices have trebled in the | :23:16. | :23:20. | |
last three years and mortgage lending to poorer families has | :23:20. | :23:24. | |
taken off, even with lending at an eye-watering 25%. The people | :23:24. | :23:29. | |
started to see they could buy their own houses, making their own dream | :23:29. | :23:32. | |
come true, which is having your own house and stop paying rent for the | :23:32. | :23:37. | |
rest of their lives, so they don't really think much of the high | :23:37. | :23:42. | |
interest they pay. What they think is that they're making their dream | :23:42. | :23:46. | |
come true. Like many emerging markets, Brazil's economy is a bit | :23:46. | :23:51. | |
too hot, while places like Britain and the US are too cold. The world | :23:51. | :23:55. | |
would all be better off if we could be somewhere in between, but no | :23:55. | :23:59. | |
prizes for guessing who is having more fun. | :23:59. | :24:02. | |
In cricket, England have beaten Sri Lanka comprehensively at the Oval | :24:02. | :24:05. | |
this evening. They bowled the tourists out for a rain-affected | :24:05. | :24:10. | |
total of 121 to win the first one- day international by 110 runs. | :24:10. | :24:18. | |
There are four matches still to play in the series. | :24:19. | :24:21. | |
The defending Wimbledon men's champion Rafael Nadal will be able | :24:21. | :24:24. | |
to defend his title after all. His future in the tournament looked in | :24:24. | :24:27. | |
doubt last night when he injured his foot on court. But a scan | :24:28. | :24:30. | |
revealed there was no damage and he's fit to fight his quarter-final | :24:31. | :24:33. | |
match against America's Mardy Fish tomorrow. Our sports correspondent | :24:33. | :24:39. | |
Tim Franks reports. Rafa Nadal, the muscle man of | :24:39. | :24:44. | |
tennis, was in such pain last night, he thought he'd broken his foot. It | :24:44. | :24:48. | |
was only this evening that he was up for a limber on the practise | :24:48. | :24:52. | |
courts - good news for everyone except his future opponents, but | :24:52. | :24:57. | |
the experts say Nadal's approach to the game will catch up with him. | :24:57. | :25:01. | |
mean, he's wonderful to watch, but the positions he gets into and the | :25:01. | :25:05. | |
force he uses on every shot in comparison with someone like Roger | :25:05. | :25:09. | |
Federer, who is sort of almost like a ballet dancer - is just totally | :25:09. | :25:15. | |
different. Should Andy Murray, training earlier today, win his | :25:15. | :25:19. | |
game tomorrow along with Rafael Nadal, they'll face each other in | :25:19. | :25:22. | |
the semi-finals. Andy Murray's best preparation may be to steer clear | :25:22. | :25:27. | |
of the TV. APPLAUSE | :25:27. | :25:33. | |
Yesterday, it showed Nadal, even on one foot, able to defeat the highly | :25:33. | :25:38. | |
talented Juan Martin Del Potro. APPLAUSE | :25:38. | :25:42. | |
Most mortals, it seems, couldn't beat Nadal if he were bound and | :25:42. | :25:46. | |
gagged and staked to the baseline. So the tale of Rafa's foot has | :25:46. | :25:49. | |
provided one twist to these Championships, but the fleetest | :25:49. | :25:53. | |
footwork of the day has had to belong to the Wimbledon | :25:53. | :25:56. | |
administrators, who have had to reschedule a slew of rain-sodden | :25:56. | :26:02. | |
matches. Even under the roof of Centre Court, the weather demanded | :26:02. | :26:11. | |
it be heard. The unseeded Sabine Lisicki was en | :26:11. | :26:15. | |
route to winning her quarter-final but not before she'd been made to | :26:15. | :26:17. | |
flinch. Her next match will be against former champion Maria | :26:17. | :26:21. |