17/12/2011 BBC Weekend News

Another bleak assessment of the eurozone crisis. A key credit

rating agency says a solution is now beyond reach. Six eurozone

countries including Spain and Italy are warned their credit worthiness

may be downgraded. More than 400 people are killed as

a tropical storm hits the Philippines.

Fresh clashes in Egypt one year on from the event that sparked the

Arab Spring. And discounts to woo shoppers but

have they been they enough to spark Good evening. Governments around

Europe are taking stock of another grim prediction about the eurozone.

The credit ratings agency Fitch says it believes a solution to the

crisis is now beyond reach. It's warned it may downgrade the credit

worthiness of six eurozone members including Spain and Italy. Here,

the former Chancellor Lord Lamont has warned that time is running out

to stop what he called an explosion in the eurozone. Our Business

Correspondent Joe Lynam reports. Few of the Commons on this eurozone

crisis have been as pessimistic as those from the credit rating agency

Fitch, which said a comprehensive deal to save the single currency is

now beyond reach. And more pressingly, 6 and euros countries

face an immediate downgrade which means Italy, Spain, Ireland,

Belgium, Slovenia and Cyprus might soon have to pay even more on the

markets for the Government to borrow money. What Fitch had done

our state the condition they would like to see before considering the

eurozone crisis is probably being resolved, and what strikes them at

the moment is that they don't find the kind of co-ordination in the

eurozone they would like to see. Although firms like Fitch play a

huge role in causing the financial crisis for years ago, they once

again find themselves at the centre of the current eurozone crisis

which could affect us all. Even though they are seemingly removed

from our day-to-day lives, credit rating agencies do matter.

Especially in this eurozone crisis. That's because markets listen

carefully to the opinion. The lower the rating, the higher the interest

paid by companies and countries and that means governments have less

money to spend on stuff like hospitals, schools and wages.

Norman Lamont knows a thing or two about recession currency blocs. He

was the Chancellor when Britain was forced out of the European

exchange-rate mechanism in 1990 to almost 20 years later. He is now

concerned. This has to be taken extremely seriously. So far, the

eurozone have been in a state of denial about the nature of the

crisis. And the extent of the crisis. The treaty designed to save

the euro agreed at last week's summit may already be unravelling

with a detrimental impact on all European citizens.

Our Political Correspondent Iain Watson is here. A really stark

warning on the eurozone from Lord Lamont, saying it might explode.

Absolutely, he said the eurozone was in denial about the nature of

the crisis, but he was Conservative Chancellor of the Exchequer in the

1990s and presided over Britain for the out of the exchange-rate

mechanism and he issued a stark warning and said the eurozone now,

unless there was urgent action, would have to contract or explode

and Nick Clegg it warned of an explosion of a different kind, not

economic, but political explosion. He said times get tough, xenophobia

and chauvinism are on the increase. Not to take no pop but Euro-

sceptics, but also at the SNP and the UK Independence Party, accusing

them of peddling the politics of grievance. Both parties reject that.

The Commons from Nick Clegg smacked of desperation, they said. Also

Newsnight on one of the names it came to symbolise the financial

crisis. Northern Rock was the symbol for a long time because it

was the first bank which had been nationalised during the crisis in

order to save it. The Government announced last month it was going

to sell it off at a loss, but tonight the National Audit Office

has announced its going to look into whether that sailors going to

be representative of value for money for the tax payer. They went

report in till next July. Tonight, Labour are calling for the Treasury

to postpone the sale altogether but the Government say we got the best

value for money we possibly could under the circumstances and we are

taking independent advice and the sale will go ahead. OK, many thanks

indeed. More than 400 people have been

killed in a tropical storm in the Philippines. Tens of thousands of

people on the island of Mindanao have moved to evacuation centres,

and soldiers have been mobilised to help with the rescue effort.

Gabriel Gatehouse has more details. The people of the Philippines are

no strangers to flooding. But tropical storms caught the island

of Merkozy by surprise. Most people were asleep when the flash floods

struck on Friday night -- Mindanao. Rivers burst their banks and

residents searched desperately for higher ground. They found shelter

where they could, some stranded on rooftops waiting to be rescued.

TRANSLATION: All we could see were lights flashing and he made a whole

lot through the roof to climb out on two and stayed on top of the

roof for the whole time. Filipino military says thousands of

its soldiers are involved in the rescue effort but, for many, help

us come too late. We found two bodies over here, this villager

said, and three more over there and now we are looking for bodies in

the nearby village. The islands of the Philippines are battered by

around 20 major storms every year. But most take a more northerly

route. Rescue workers say it's possible the number of dead may be

so high this time because the people of Mindanao simply are not

used to bear in the full brand of 50 mph wind like those of this

tropical storm. A year ago today a young fruit

seller set fire to himself in Tunisia because he said he was

being harrassed by the authorities. They were trying to stop him

trading. That single act began the Arab Spring uprisings which topped

decades-old dictatorships across the Arab world. But while Tunisia

and Libya are making progress, today protestors have again taken

to the streets in the Egyptian capital Cairo. Our Middle East

correspondent Jon Donnison reports. Tunisians gather today to remember

that one man who changed the Middle East. His mother addressed the

crowd. She tells them her son symbolise the beginning of the

revolution. And says she appreciates all the martyrs who

have died this year. Meanwhile, in Libya, the American Defence

Secretary was in Tripoli. He offered congratulations on another

move towards democracy. They have to determine what their needs are,

what kind of assistance is required. And whatever they need, the USA

will be happy to respond. Libya's revolution that climaxed here in

what is now called martyr's Square, was, in many ways, the most

conclusive, a 42 year long dictatorship ending with Colonel

Gaddafi's death. Libyans are enjoying their revolutionary

honeymoon but across the region, a process of change is far from over.

Egypt are still volatile. Clashes in Cairo continue today. These are

security forces savagely beating protesters who say the pace of

change is too slow. One man eventually tries to get up. A

second looks to be unconscious at best. At least eight people have

died since Friday. 11 months after the fall of Hosni Mubarak, and

halfway through new elections, the future direction of the country is

far from clear. And in the Yemen this weekend, there were more anti-

government protests, even though the President agreed to finally

step down last month after over 30 years in power. But provoking most

concern is Syria. The UN says more than 5,000 people have been killed

since the uprising began against the President. One young Tunisian

was the trigger for the Arab Spring. A year on, for millions of people

across the Middle East, it's not over.

New fishing quotas have been announced for the UK after all

night talks in Brussels. The deal includes increases in quotas for

catching cod and haddock. The UK Fisheries minister said the result

was the best that could be achieved. But some Scottish fishing

communities are still unhappy about a reduction in the number of days

they can spend at sea. James Shaw reports.

This is a strenuous job for the crew in rough weather. Once, not so

long ago, fish stocks around Britain were plentiful. That was

before dramatic reductions caused by overfishing. Now what species

can be caught and when are matters for closely argued negotiations

amongst the fishing nations of Europe. The UK government says this

year's deal is the best possible. Scottish ministers are less

convinced. And industry leaders in Scotland say it is not a good deal

at all. The problem, they say, is being allowed fewer days at sea.

There's no way you can claim this is a success. It's not a success.

The perversity is, there is fish to catch, and there may not be time to

catch at all. The new agreement will allow UK fishermen to catch

more of some species like cod and haddock in certain areas. And that

is a concern for fish conservationists. What's wrong with

the deal being struck today is that the advice the scientists have been

producing has been completely ignored and that is unacceptable

for the future of fish stocks. Britain's love affair with fish and

chips shows no sign of ending but preserving fish stocks is still a

pressing concern and we need to strike a balance between demand and

sustainability for it to continue for the foreseeable future.

The Labour Party in Scotland has elected a new leader. Johann Lamont

said her priorities are tackling youth unemployment, getting the

economy to grow and providing more support for carers.

Now with Christmas just around the corner, it's been one of the

busiest shopping days of the year. An estimated 11 million Britons

have taken to the high streets and shopping centres, spending more

than �1 million a minute. Fiona Trott joined the shoppers in

Gateshead. Only a week to go. And here in

Gateshead, stores are doing their best to seduce the shoppers. Some

are offering 50% off. It is tempting, but if it tempting enough

to bring out the credit card and throw caution to the wind?

haven't got the money and we can't have it. I don't have a credit card.

I used to have it. I don't like the thought of paying it after

Christmas. It adds up Andy De Beers how much your spending. On the

credit card, I try not to go overdrawn too much. I've been quite

careful. The next few days are vital. Some retailers rely on

Christmas for up to 30% of their annual turnover and they are clever

and uses discounting incentives. Customers know it, which is why

they wait until the last minute. It's a game, but it seems to work.

I think we have been pleasantly surprised because, throughout the

whole year, it's been a picture of doom and gloom and we have all

known we have got to work harder to actually drive sales, but we are

seeing some positive results. It's good at the moment, actually.

Retailers have been smiling in London's West End for it was as

busy as ever at this time of year. The British Retail Consortium

estimates shoppers across the UK spend �2.5 billion today, a welcome

boost following poor sales in November. And, with Christmas Eve

falling on a Saturday this year, panic buyers will be putting more

money into the tills this time next week.

Now with the sports news, here's Olly Foster.

He's done her shopping. I wish!

There were three draws and three wins in today's six Premier League

matches. All the goals are on Match of the Day straight after the news,

so for those of you who don't want me to give you the results, you

know the drill. Chelsea were the only team in the top five playing

today, but they were held to a one- all draw at Wigan. Jordi Gomez

pounced on an error by Petr Cech to equalise in the last two minutes.

Wigan stay in the relegation zone but the bottom two both lost. Owen

Coyle says he takes full responsibilty for Bolton's current

position. They lost 2-0 at Fulham. That keeps them bottom, one point

behind Blackburn Rovers another defeat for Steve Kean's side, 2-1

at home to West Bromwich Albion. Here are the other results. Everton

got a late equaliser against Norwich. 1-all the final score. No

goals between Newcastle and Swansea and Peter Crouch got the winner for

Stoke at Wolves. Rangers are seven points clear at the top of the

Scottish Premier League again after a tough 2-1 win against Inverness.

Elsewhere, Hibs lost at Aberdeen, Hearts eased past Dunfermline,

Dundee Utd got a late equaliser at Kilmarnock. Motherwell still third

after a draw with St Mirren. Second placed Celtic are at St Johnstone

tomorrow. In rugby union's Heineken Cup, there were wins today for

Leinster, Ulster and Gloucester. Glasgow drew their match with

Montpellier, while Leicester kept their European hopes alive with a

stunning comeback against Clermont Auvergne. Despite trailing by nine

points at half-time, Julian Salvi's try helped them to a 23-19 victory.

Big Bucks has extended his unbeaten run over Hurdles. It now stands at

14 after Ruby Walsh steered him to an easy victory in the Long Walk

Hurdle at Ascot today. The Paul Nicholls trained eight year old is

now two away from Sir Ken's record of 16 consecutive race wins set in

the 1950s. And the Nottingham fighter Carl

Froch faces American Andre Ward in Atlantic City overnight. It's the

final of the Super Six tournament, which has seen the best super-

middleweight boxers fight each other over the last two years.

Froch and Ward are putting their WBC and WBA belts on the line. And

you can hear the fight live on BBC Radio 5 Live from 2.30am. And

that's the sport. Thank you very much indeed. That's

it. You can see more on all of today's stories on the BBC News

Good evening. I wouldn't get too excited about a white Christmas

just yet. It's going to turn milder next week but it's cold at the

moment. Temperatures close to freezing right now. Some rain

showers particularly towards the western fringes and snow in

Scotland, northern England, giving a light covering in places. In fact,

that sleet and snow ending up in the Midlands through tomorrow

morning. A light covering. Heading towards the south-east, but I

wouldn't hold your breath. A few wintry showers arriving in the

morning. Brighter skies and sunshine for the West Country.

Showers on the coastal fringes at 9am. An icy stare across Wales,

particularly when you have snow over the high ground. Plenty of

sunshine a during the day. Northern Ireland, ice will be hazardous out

there particularly with showers moving from the north coast. Rain

showers for the western coast of Scotland as well but most of it

will be frozen solid in the morning with a lot of snow on the ground.

It could be slippery. Through the day, wintery showers will fade away

from the south-east and although there will be shut was on coastal