01/07/2012 BBC Weekend News


01/07/2012

Similar Content

Browse content similar to 01/07/2012. Check below for episodes and series from the same categories and more!

Transcript


LineFromTo

Be chairman of Barclays resigns in the wake of the rate fixing scandal

:00:16.:00:22.

saying it shows an unacceptable standard of behaviour. Marcus Agius

:00:22.:00:25.

will formally announce his departure in the morning but there

:00:25.:00:28.

is still pressure on the chief executive and on other banks.

:00:28.:00:32.

David Cameron says a referendum on Europe is a possibility when the

:00:32.:00:36.

time is right. Violent thunderstorms wreak havoc

:00:36.:00:42.

on the east coast of America as a state of emergency is declared.

:00:42.:00:48.

What an opening! And Spain gives Italy a lesson in counting as they

:00:48.:00:58.
:00:58.:01:06.

score four to be crowned champions Good evening. The chairman of

:01:06.:01:08.

Barclays, Marcus Agius, is resigning in the fall-out from the

:01:08.:01:18.

bank being fined for rate fixing. Admitting that it demonstrated an

:01:18.:01:21.

unacceptable standard of behaviour. There will be a formal announcement

:01:21.:01:24.

in the morning, days after Barclay's was fined nearly �300

:01:24.:01:27.

million for fixing interbank interest rates. In a moment, we

:01:27.:01:30.

will speak to our business editor Robert Peston, who broke the news

:01:30.:01:33.

that the Barclays chairman was to stand down. But first, this report

:01:33.:01:41.

from Ben Thompson. The rate fixing scandal has sent

:01:41.:01:45.

shockwaves through the industry but tonight it claimed its first high-

:01:45.:01:50.

profile victim. Marcus Agius, the chairman of Barclays, will resign.

:01:50.:01:55.

The fixing of interbank lending rates has already cost the bank

:01:55.:02:00.

�298 million in fines. A total now that those at the top of the bank

:02:00.:02:08.

had refused to quit. Mr Agius, who is also won the BBC's board, joined

:02:08.:02:11.

Barclays in 2006. Tomorrow, his departure will be officially

:02:11.:02:15.

announced. This goes to the heart of the British economy and the

:02:15.:02:19.

heart of the city of London. I really hope that the authorities

:02:19.:02:24.

react aggressively and fast in the next few days. But Barclays is just

:02:24.:02:31.

one of more than 20 banks currently under investigation. Rival RBS

:02:31.:02:34.

sacked four of its traders at the start of the year, a move designed

:02:34.:02:41.

to prove it was, and is, in control of the crisis. Today, the head of

:02:41.:02:45.

the city watchdog called for greater powers to bring sanctions

:02:45.:02:49.

against those involved. Further steps were made to give us the

:02:49.:02:54.

ability to bring critical charges in particular areas of market abuse,

:02:54.:02:59.

but they did not cover the LIBOR market. I think if we should look

:02:59.:03:02.

further to see if we should strengthen these powers on top of

:03:02.:03:08.

what we have got at the moment. after a surge of shareholder

:03:08.:03:14.

activism, like these protests, the Business Secretary Vince Cable says

:03:14.:03:18.

it is the shareholders, not government or regulators, who

:03:18.:03:23.

should hold management boards to account. Barclays boss Bob Diamond

:03:23.:03:28.

will have to answer to MPs that the Treasury Select Committee on

:03:28.:03:31.

Wednesday. With growing public anger, there will also be questions

:03:31.:03:35.

about whether he, too, should now step down.

:03:35.:03:41.

Our business editor Robert Peston is here. Why did Marcus Agius feel

:03:41.:03:46.

he had to go? In his resignation statement that will be released

:03:46.:03:51.

tomorrow, as I understand it, Marcus Agius will say that this

:03:51.:03:55.

market rigging scandal, the disclosure that Barclays managers

:03:55.:04:00.

were lying about the interest rate and Barclays was paying to borrow,

:04:00.:04:07.

has dealt a devastating blow to this bank's reputation. It was

:04:07.:04:11.

clear to many politicians and shareholders that somebody at

:04:11.:04:15.

Barclays had to carry the can and Marcus Agius decided last night,

:04:15.:04:19.

the buck stopped with him. The board had already decided they

:04:19.:04:25.

wanted Bob Diamond to stay. Marcus Agius felt there was no alternative

:04:25.:04:30.

but for him to quit. But once he does, where does that leave

:04:30.:04:35.

Barclays and does it make Bob Diamond's position secure?

:04:35.:04:40.

Diamond, the chief executive, will be appearing in front of MPs on

:04:40.:04:44.

Wednesday. One of the things he has got to talk about is an

:04:44.:04:47.

extraordinary meeting, or conversation he had with the deputy

:04:48.:04:52.

governor of the Bank of England, Paul Tucker, in 2008, which I

:04:52.:04:58.

learned about earlier today. In that conversation, they talked

:04:58.:05:04.

about the damage to Barclays' public reputation at the time of

:05:04.:05:07.

the credit crunch, from the perception that it was having to

:05:07.:05:11.

pay a high interest rate to borrow. This led people to believe it was

:05:11.:05:17.

weak as a bank. For some reason or another, we are not quite clear why,

:05:17.:05:21.

Barclays managers took away from that conversation, her belief that

:05:21.:05:25.

somehow the Bank of England had instructed them to lie about the

:05:25.:05:31.

interest rates they were paying. The Bank of England did not issue

:05:31.:05:35.

that instruction but Bob Diamond will undoubtedly be asked by MPs

:05:35.:05:40.

what it was he took away from that conversation with the deputy

:05:40.:05:43.

governor of the Bank of England, and indeed, there will also be

:05:43.:05:47.

questions about his own involvement and knowledge of Barclays line

:05:47.:05:52.

about these interest rates. Robert, thank you very much.

:05:52.:05:55.

The prime minister has suggested Britain could have a referendum on

:05:55.:05:59.

its relationship with the European Union, when the time is right. In a

:05:59.:06:02.

newspaper article, David Cameron said he and the British people were

:06:02.:06:04.

not happy with the current relationship. Labour says the

:06:04.:06:07.

Conservative position on Europe is a shambles. Here is our political

:06:08.:06:15.

correspondent, Carole Walker. So is David Cameron prepared to

:06:15.:06:20.

give the British people a say on Europe in a referendum? The answer,

:06:20.:06:25.

quite possibly, but not yet. The Prime Minister says with Europe

:06:25.:06:29.

changing fast, we need to establish a new relationship with our

:06:29.:06:33.

partners and then consider had to get the support of the British

:06:33.:06:37.

people. This could be at a general election or in a referendum as the

:06:37.:06:41.

Foreign Secretary explained this morning. The Prime Minister is

:06:41.:06:47.

saying, the time to decide is when we know how Europe is going to

:06:47.:06:50.

develop over the coming months and years with the eurozone crisis, and

:06:50.:06:56.

when we know whether we can get a better relationship. When will the

:06:56.:07:01.

Prime Minister consult us? Probably not before the next election in

:07:02.:07:04.

2015. What about the question? David Cameron wants it to be on a

:07:04.:07:10.

new relationship with Les EU power. But an in or out referendum remains

:07:10.:07:17.

possible. On Friday, the Prime Minister seemed to rule a

:07:17.:07:21.

referendum out. On Sunday morning he hints he is ruling a referendum

:07:21.:07:24.

in. The Foreign Secretary has been sent out to say the position has

:07:24.:07:30.

not changed. Frankly, it is a shambles. Some Conservatives have

:07:30.:07:33.

welcomed the Prime Minister's move as a step in the right direction,

:07:33.:07:36.

but others say he has to make a much clearer commitment now if he

:07:36.:07:42.

is going to convince the public. What we want is the promise of a

:07:42.:07:46.

referendum, in the next Parliament, a promise on the statute book in

:07:46.:07:50.

this Parliament for a referendum in the next Parliament, so people can

:07:50.:07:54.

have their say. It gives us a chance to have an informed debate

:07:54.:07:58.

about what sort of relationship we want. To add to the pressure on the

:07:58.:08:02.

Prime Minister, tomorrow his former Defence Secretary, Liam Fox, will

:08:02.:08:07.

call for negotiations now on a new, looser relationship with Europe.

:08:07.:08:10.

With a government prepared to recommend leaving the EU if it does

:08:10.:08:15.

not get what it wants. The party's rivals say the Prime Minister is

:08:15.:08:19.

still denying the public a referendum which they want. What he

:08:19.:08:23.

is doing is give a vague promise that there might be a referendum in

:08:23.:08:27.

the future but it will not be about our membership of the euro shim --

:08:27.:08:31.

European Union. If he thinks he has buried the issue into the long

:08:31.:08:36.

grass, he has another think. Prime Minister knows his stance

:08:36.:08:40.

will not please his Liberal Democrat coalition partners to take

:08:40.:08:44.

a very different view on Europe. And Carole is a Westminster for us

:08:44.:08:51.

now. Where does this debate go now as far as David Cameron is

:08:52.:08:56.

concerned? I think certainly the intervention of Liam Fox will raise

:08:57.:09:03.

the stakes and galvanise the MPs who were not happy with what they

:09:03.:09:08.

have heard so far. Liam Fox has kept a low profile since he had to

:09:08.:09:12.

leave the Cabinet over the role of his adviser. The Prime Minister

:09:12.:09:16.

will make a statement tomorrow. I think the danger for him is he will

:09:16.:09:20.

find his offer of a possible referendum in future, far from

:09:20.:09:25.

meeting the demand of his Tory MPs, will simply fuel those who want a

:09:25.:09:29.

much firmer, clearer commitment to a referendum on Europe. And at the

:09:29.:09:34.

same time, David Cameron appears to have annoyed his coalition partners.

:09:34.:09:38.

Vince Cable said that the whole idea of a referendum was horribly

:09:39.:09:44.

irrelevant at the time of upheaval across Europe. Thank you.

:09:44.:09:46.

The government is planning changes to the test taken by foreign

:09:46.:09:49.

nationals who wish to become British citizens. The revised

:09:49.:09:51.

version will require greater knowledge of British achievements

:09:51.:09:54.

and history, testing candidates on figures such as William Shakespeare

:09:54.:10:04.

and the Duke of Wellington. Ben Geoghegan has more details.

:10:04.:10:10.

Sultanas brassiere came to the UK from Bangladesh five years ago. To

:10:10.:10:14.

become a British citizen she has to pass a test about life in the UK.

:10:14.:10:19.

She has already had one go but her first attempt was unsuccessful.

:10:19.:10:24.

you want to live here, you have to know all the information, all the

:10:24.:10:30.

rules and the way of living here, the way of the culture here. It is

:10:30.:10:35.

important. It is quite hard, but it is important. This is the handbook

:10:35.:10:38.

to life in the UK which people who want to settle in this country can

:10:39.:10:43.

be asked to learn. There are sections on British history as well

:10:43.:10:48.

as human rights, and advice as well on claiming some benefits. The

:10:48.:10:52.

government wants to change this so there is more focus on British

:10:52.:10:56.

culture and people's responsibilities. People are almost

:10:56.:11:00.

encouraged to see what they can get out of the country, rather than

:11:00.:11:05.

what they can contribute. The emphasis is moving towards people

:11:05.:11:07.

having an understanding of the country they are joining,

:11:07.:11:13.

effectively, is absolutely right. The new guide will include key

:11:13.:11:17.

figures and events from British history, like Shakespeare, the

:11:17.:11:22.

Battle of Trafalgar and Florence Nightingale. In this jubilee year,

:11:22.:11:30.

we have heard a lot of the National Anthem. In future, people could be

:11:30.:11:34.

tested on the words of the first verse. This man runs cities has run

:11:34.:11:40.

-- citizenship courses in the east of London. Bear in mind, at the

:11:40.:11:44.

majority of people may not be from a Christian background and it could

:11:44.:11:48.

be against their religious beliefs and personal beliefs. The national

:11:48.:11:54.

anthem itself, is a little bit too biased or unfair to these people.

:11:54.:11:58.

The government hopes its new guide will help migrants become better

:11:58.:12:02.

citizens. Critics say the changes will put up unnecessary barriers

:12:02.:12:12.
:12:12.:12:17.

for people who want to live in the Mexico has been voting for a new

:12:17.:12:20.

President. The leading candidate, Enrique Pena Niete, has vowed to

:12:20.:12:23.

reduce poverty and bolster the economy. He has also pledged to

:12:23.:12:26.

crack down on the drug-related violence that has plagued parts of

:12:26.:12:28.

the country. Millions of people are without

:12:28.:12:30.

power tonight after the thunderstorms that have hit the US

:12:30.:12:34.

east coast. The storms were fuelled by a heatwave that has seen record-

:12:34.:12:36.

breaking temperatures. Four states have now declared a state of

:12:36.:12:43.

emergency. Jonny Diamond reports from Washington. The US capital has

:12:43.:12:48.

seen nothing like it. A storm which raced in from the West tearing down

:12:48.:12:55.

trees, pulling up power lines and even flipping a small plane. 70 and

:12:55.:13:00.

80 miles an hour or winds ripped roofs off and left roads blocked.

:13:00.:13:04.

It has been compared to a hurricane but hurricanes come with warnings

:13:04.:13:10.

and time to prepare. With the storm there was neither. There was a loud

:13:10.:13:16.

boom! I said, Oh, my God, that lightning has hit something close.

:13:16.:13:22.

Across Washington, crews are trying to fix traffic lights, power lines

:13:22.:13:26.

and telephone exchanges. Some of the damage will take time to clear,

:13:26.:13:31.

toppled trees outside the city's embassies will require heavy

:13:31.:13:37.

lifting equipment. Across four states and here in Washington DC,

:13:37.:13:41.

there are scenes like these where huge winds have torn down trees and

:13:41.:13:46.

pulled out power lines. The storm - - the storm struck in the middle of

:13:46.:13:51.

a heat wave. It is horribly hot here. Life without electricity is

:13:51.:13:56.

dangerous for some and utterly miserable for others. Ham and her

:13:56.:14:04.

mother lost power on Friday night - - Hannah. We are starting to get

:14:04.:14:11.

sticky, no air-conditioning. There is no air-conditioning and a water

:14:11.:14:15.

tank storage which is run by electricity. When the water has

:14:15.:14:19.

gone from the tank, and thus the electricity comes back on, there

:14:19.:14:24.

will be no water. More than a dozen people have been killed by the

:14:24.:14:27.

storm. Much property has been destroyed and millions are waiting

:14:27.:14:34.

for the lights and the air- conditioning to come back on.

:14:34.:14:38.

Sport now and for all the details of the Euro 2012 final we can cross

:14:38.:14:43.

to the BBC Sports Centre. Quite a night.

:14:43.:14:48.

It was indeed. Spain have made football history tonight and in

:14:48.:14:52.

some style. They outclassed Italy in the final in Kiev to retain

:14:52.:14:56.

their title and become the first team to win three consecutive

:14:56.:14:59.

international tournaments. Olly Foster is outside the Olympic

:14:59.:15:09.
:15:09.:15:10.

History has been made here in Kiev. To think that Spain's tactics were

:15:10.:15:16.

criticised leading into the final. They won 4-0, 80 Lee the latest to

:15:16.:15:22.

suffer a final Inquisition. -- Italy. The cacophony of conference

:15:22.:15:27.

on the streets of Kiev was Spanish, and they had every right to enter

:15:27.:15:32.

this eastern outpost of European football with a certain swagger.

:15:32.:15:36.

The Italians come a penalty conquerers of England in this very

:15:36.:15:40.

city never thought they would be back until those semi-final

:15:40.:15:50.
:15:50.:15:52.

pyrotechnics from Balotelli against It was that other manner of

:15:52.:15:56.

Manchester City, Silva, who provided the first spark in this

:15:56.:16:03.

final. Silva, one of Spain's six- man midfield, picked out by

:16:03.:16:07.

Fabregas. No strikers in the team, but they were not shy in coming

:16:07.:16:13.

forward. The Italians threatened, Castano with a hat-trick of chances

:16:13.:16:18.

that found Casillas every time. The Spaniards only needed the tiniest

:16:18.:16:22.

of cracks to prise the second goal before half-time. Jordi Alba, a

:16:22.:16:27.

defender on scoring duty. Di Natale almost made an impact for Italy

:16:27.:16:31.

with his first touch. The Italians used all three substitutes, and

:16:31.:16:35.

when one of them, a Thiago Motta, was stretchered off with half an

:16:35.:16:39.

hour to play, the match was effectively over. Playing Spain is

:16:39.:16:44.

hard enough, with 10 it was impossible. Torres scored the

:16:44.:16:47.

winner four years ago to win the European Cup, he made sure they

:16:47.:16:54.

were keeping it. He set up a 4th for another substitute, Juan Mata.

:16:54.:16:59.

The matadors showed no mercy. The Spanish dynasty it is dominating

:16:59.:17:08.

all before them, claiming the prize So, a very familiar climax to Euro

:17:08.:17:13.

2012, all the major book Portrait these stay with Spain. Now it is

:17:13.:17:18.

onto the road to Brazil, the World Cup, in 2014. The Spanish will be

:17:18.:17:23.

going for the quadruple! England's cricketers have won the

:17:23.:17:26.

second one-day international against Australia with ease at the

:17:26.:17:33.

Oval. Bopara start for England, hitting 82. They chased down the

:17:33.:17:38.

target at 252, with six wickets to spare. Alastair Cook's side now

:17:38.:17:43.

have a 2-0 lead. Great Britain have suffered further

:17:43.:17:46.

disappointment in the relay at the European athletics championships. A

:17:46.:17:49.

day after the women's team were disqualified, the men have had

:17:49.:17:54.

their hopes of a medal dashed. Their challenge in the four by 100

:17:55.:17:59.

Download Subtitles

SRT

ASS